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To: SafetyAgentMan who wrote (6779)	9/13/1999 2:36:00 AM
From: djane	of 10852

Pacific Century plans global satellite fleet Published on Friday, September 10, 1999 INTERNET JOSEPH LO Richard Li Tzar-kai's Pacific Century Group has unveiled plans to launch a fleet of satellites providing high-speed Internet access across the globe. The company last night said it had formed a majority-owned 70:30 joint venture with DaimlerChrysler Aerospace (Dasa) of Germany. PC Matrix, which will be based in Hong Kong, will initially lease capacity from Asia Satellite Telecommunications' AsiaSat 3S satellite. Plans call for the subsequent development of PC Matrix's own fleet of satellites, with the first expected to launch in late 2002. The first satellite would serve the Asia-Pacific but the fleet would eventually be capable of serving the globe, Pacific Century and Dasa said. A key initial customer for PC Matrix will be Pacific Convergence Corp (PCC), a subsidiary of Mr Li's listed technology flagship, Pacific Century CyberWorks. PCC hopes to offer ultra-fast Internet connections to Asian homes through satellite downloads to local cable networks. A Pacific Century spokesman said the "point of PC Matrix is to eventually be its own satellite company" with the capacity to offer global interactive connectivity to the Internet through Ka and X-band satellites. "We expect this to be do-able by late-2002, at which time we would begin by serving the Asia-Pacific market first," the spokesman said. In a related development, Mr Li's Singapore-listed Pacific Century Regional Developments (PCRD) said it had sold another 180 million shares in China Online on Tuesday, following its sale of 500 million shares in the company on Monday. A spokesman said PCRD now held about 7.5 to 8 per cent of China Online's outstanding shares. Copyright (c)1999. South China Morning Post Publishers Ltd. All Rights Reserved.

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