running, this one providing internet telephony services to the Columbia Broadcasting System, better known as American TV network CBS.

The company is called deltathree.com ("d3''). It is a subsidiary of Bermuda-based RSL Communications, Ltd. (RSL), which is quoted on the Nasdaq exchange.

Yesterday, d3 announced the signing of an advertising agreement with the CBS website, www.cbs.com. The agreement makes d3 the exclusive advertiser of internet telephony services on the CBS web site for two years.

On the CBS site, customers will be able to download PC-to-phone software for calls from their PCs to regular telephones. A range of ancillary services will allow customers, for example, to order internet telephony calling cards and send internet greeting cards.

The new company is another competitor in the dramatic changes which are sweeping the telecommunications industry.

According to the agreement, d3 will receive prominent positioning on the CBS web pages, including fixed links and banners throughout the site. The links will connect customers to a communications centre created specifically for CBS by d3.

"CBS and d3 are a perfect fit,'' said Elie Wurtman, d3 chairman. "Customers use the CBS web site to retrieve information today so it's only logical that they have readily available access to telephony in addition to the communications services already available to them.'' RSL is an international facilities-based carrier that provides integrated product and service solutions to customers around the world. It operates in 21 countries that account for more than 75 percent of the world's telecommunications traffic. The RSL global network, RSL Net, has more than 126,000 route kilometres on 34 major cable systems.