Williams has signed an agreement with The Genesys Group, an international teleconferencing services provider and the market leader in Europe and Asia, which will acquire the video conferencing business unit. Terms of the transaction contemplated in the agreement were not disclosed. Howard Janzen, president and chief executive officer of Williams Communications, said the company is moving forward with its previously announced plan to sell a minority interest of the company in an initial equity offering. Janzen said while the timing of the IPO may not coincide with the mid-year goal described in Williams' 1998 annual report, the company remains committed to complete the equity offering as soon as possible. Williams, through its subsidiaries, provides a full range of communications and energy services.
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Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission.