Fwd: VeriSign temporarily suspends SiteFinder under ICANN Pressure

[Raul Echeberria]

At 04:38 p.m. 03/10/2003 -0400, Alan Davidson wrote:
>Attached is Verisign's press release from this afternoon. Very interesting.
>
>         - Alan


It has not been suspended yet.

Raul




>>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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