Fwd: VeriSign temporarily suspends SiteFinder under ICANN Pressure

[Alan Davidson]

Attached is Verisign's press release from this afternoon. Very interesting.

        - Alan

>
>VeriSign Site Finder Service Update
>
>VeriSign Will Temporarily Suspend Web Navigation Service in Order to
>Continue to Work With Internet Community Towards a Long-Term
>Implementation
>
>MOUNTAIN VIEW, CA - October 03, 2003 - VeriSign, Inc. (Nasdaq:
>VRSN), the leading provider of critical infrastructure services for
>the Internet and telecommunications networks, today announced that
>it will temporarily suspend its Site Finder, a new service to
>improve Web navigation for Internet users.
>
>"Without so much as a hearing, ICANN today formally asked us to shut
>down the Site Finder service. We will accede to the request while we
>explore all of our options," said Russell Lewis, executive vice
>president of VeriSign's Naming and Directory Services Group. "During
>the more than two weeks that Site Finder has been operational, there
>is no data to indicate that the core operation of the Domain Name
>System or stability of the Internet has been adversely affected.
>ICANN is using anecdotal and isolated issues to attempt to regulate
>non-registry services, but in the interests of further working with
>the technical community we will temporarily suspend Site Finder."
>
>Launched September 15, Site Finder provides useful tools for
>Internet users who mistype a domain name or attempt to connect to a
>web site that doesn't exist. Instead of receiving a cryptic error
>message, users receive a Web page that offers a search box, a "Did
>You Mean?" listing of similar domain names, and a listing of popular
>categories related to the search request. Through Thursday, Oct. 2,
>Site Finder has been used more than 40 million times by Internet
>users to get where they want to go online.
>
>"The service has been well received by millions of Internet users
>who appreciate getting navigation tools as opposed to the 'dead end'
>of an error message," added Lewis.
>
>VeriSign announced on September 23 that it has established a
>Technical Review Panel comprised of Internet community leaders to
>help gather and analyze feedback about Site Finder. That panel will
>assist VeriSign in the long-term implementation of Site Finder.
>
>"The next several weeks will be a test as to whether innovation will
>occur within the Internet infrastructure. The fact is that while the
>Internet has been used for innovative purposes over the last decade,
>the core infrastructure has suffered from a lack of innovation,"
>said Lewis. "VeriSign will argue vigorously for innovation because
>it not only improves the Internet user experience but has
>implications for the vitality of the DNS system and economic
>competitiveness and job growth."
>
>About VeriSign
>
>VeriSign, Inc. (Nasdaq: VRSN), delivers critical infrastructure
>services that make the Internet and telecommunications networks more
>intelligent, reliable and secure. Every day VeriSign helps thousands
>of businesses and millions of consumers connect, communicate, and
>transact with confidence. Additional news and information about the
>company is available at www.verisign.com.
>
>For more information, contact:
>VeriSign Media Relations: Tom Galvin,
><mailto:tgalvin at verisign.com>tgalvin at verisign.com, 202.973.6600
>VeriSign Director of Government Relations: Shane Tews,
><mailto:stews at verisign.com>stews at verisign.com, 202.973.6600
>
>###
>
>Statements in this announcement other than historical data and
>information, including but not limited to new business relationships
>and new service offerings, constitute forward-looking statements
>within the meaning of Section 27A of the Securities Act of 1933 and
>Section 21E of the Securities Exchange Act of 1934. These statements
>involve risks and uncertainties that could cause VeriSign's actual
>results to differ materially from those stated or implied by such
>forward-looking statements. The potential risks and uncertainties
>include, among others, the uncertainty of future revenue and
>profitability and potential fluctuations in quarterly operating
>results due to such factors as increasing competition and pricing
>pressure from competing services offered at prices below our prices,
>market acceptance of our existing services, the inability of
>VeriSign to successfully develop and market new services or the
>failure of new services to gain customer acceptance, reduced demand
>for our services as a result of continued softness in information
>technology and telecommunications spending by our customers, and the
>risk that VeriSign's strategic relationships may not result in
>additional products, services, customers and revenues.  More
>information about potential factors that could affect the company's
>business and financial results is included in VeriSign's filings
>with the Securities and Exchange Commission, including in the
>company's Annual Report on Form 10-K for the year ended December 31,
>2002 and quarterly reports on Form 10-Q. VeriSign undertakes no
>obligation to update any of the forward-looking statements after the
>date of this press release.
>
>__________________________________________________
>
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