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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Tom Genna who wrote ()6/1/2000 1:24:00 PM
From: John Curtis   of 27311
 
Here's an Globalstar announcement today about signing a Basic Order Agreement with Uncle Sammy, courtesy of Dabenks of Yahoo:

messages.yahoo.com

Thursday June 1, 10:21 am Eastern Time

Company Press Release

U.S. General Service Administration Approves Globalstar
Phones for Purchase

U.S. Federal Government Agencies Now Authorized to Buy Globalstar Mobile Satellite Phones and Services

NEW YORK--(BUSINESS WIRE)--June 1, 2000-- Globalstar, the global mobile satellite service, has signed a Basic Order
Agreement (BOA) with the U.S. General Services Administration (GSA), allowing all federal government agencies as well as other authorized users of GSA sources of supplies to purchase Globalstar products and services.

``We are extremely pleased that we are now able to provide Globalstar mobile satellite solutions to the government,'' said Tony Navarra, president of Globalstar. ``Not only does this open up another excellent marketing opportunity for us, but also it is a strong vote of encouragement to have the U.S. Government make our services available to the entire federal community.''

Globalstar phones, which are already being field tested by several U.S. government agencies and are now being used by members of the armed forces and federal law enforcement organizations, can allow federal employees to stay in touch from virtually anywhere across dozens of countries in six continents both within and outside the range of cellular service.

The GSA provides equipment and services to agencies in all branches of the federal government, as well as to the country's armed forces. Among its many services, the GSA provides telephones and related telecommunications products, at the best value, to enable federal employees to accomplish their respective missions. GSA contracts account for $40 billion of goods and services bought annually from the private sector.

Globalstar, led by founding partner Loral Space & Communications, is a partnership of the world's leading telecommunications service providers and equipment manufacturers, including co-founder Qualcomm Incorporated, Alenia, China Telecom (HK), DACOM, DaimlerChrysler Aerospace, Elsacom (a Finmeccanica Company), Hyundai, TE.SA.M (a France Telecom/Alcatel company), Space Systems/Loral, and Vodafone AirTouch. For more information, visit Globalstar's web site at www.globalstar.com.

Loral Space & Communications (NYSE:LOR - news) is the managing partner and, at 40 percent, is the largest equity owner of Globalstar. Loral is a high technology company that concentrates primarily on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value-added services, domestic and international corporate data networks, global wireless telephony, broadband data transmission and content services, Internet services, and international direct-to-home satellite services. For more information, visit Loral's web site at www.loral.com.

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I'd like to think "some" of those phones will come equipment with a product near and dear to our hearts.

John~
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