Digital Access Raises $450M

Bethesda, Md. -- Digital Access Inc. -- a
telecommunications start-up planning to offer cable, telephone and data services to
businesses and residences -- said last week that it raised $450 million in equity funding
to build digital networks in "several" U.S. markets.

A news release said investors include Bachow &
Associates, California State Teachers' Retirement System, Cornerstone Equity, First Union
Capital Partners, Fleet Equity Partners, Goldman, Sachs & Co. Asset Management, M/C
Venture Partners, Norwest Equity Partners L.P., Providence Equity and Spectrum Resources
Inc. Bachow's senior managing director founded Digital Access.

Bachow said in the release that the $450 million in equity,
plus debt, will fund the build-out and ramp-up phases of building the networks in several

Ultimately, the plan calls for passing 1.5 million
residential and commercial customers in target markets. A spokesman did not return a phone
call last week seeking more information.