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Technology Stocks : Loral Space & Communications

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To: Don Limb who started this subject	1/31/2003 10:14:41 PM
From: ebg51	Read Replies (1) of 10852

Loral says Alcatel dispute may have material impact Friday January 31, 6:42 pm ET WASHINGTON, Jan 31 (Reuters) - Loral Space & Communications Ltd. (NYSE:LOR - News) said on Friday an arbitration tribunal had ruled in favor of rival Alcatel Space (Paris:CGEP.PA - News) on most of its claims alleging breaches of an operational agreement, and if there are damage awards Loral's finances could be impacted. ADVERTISEMENT Loral, the New York-based satellite communications firm, said the ruling also was against Loral on its counterclaims. "If the arbitral tribunal finds that Alcatel has sustained damages, there could be a material adverse effect on Loral's consolidated financial position and results of operations," the company said in a Securities and Exchange Commission filing. Further hearings were scheduled for May, Loral said. Company officials had no immediate comment. In previous regulatory filings Loral has said it did not think the matter would have a material adverse effect. In 2001 the French Alcatel filed arbitration proceedings against Loral that challenged its termination of an agreement on certain satellite programs and asserted various alleged breaches related to exchange of information. Loral's satellite manufacturing business was originally founded by Loral, Alcatel, Alenia Aerospazio (Milan:SIFI.MI - News) and Aerospatiale in 1991. Loral has said in the past that the agreements with Alcatel have "outlived their usefulness due to the evolution of the space industry and the emergence of Alcatel as a direct competitor of Loral's." Shares of Loral closed off 4 cents to 44 cents on the New York Stock Exchange. Its shares have traded as high as $2.78 and as low as 22 cents over the past 52 weeks.

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