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Technology Stocks : CDRD (CD Radio)
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To: Russian Bear who wrote (306)11/12/1997 6:21:00 PM
From: Candle stick  Read Replies (2) of 904
 
Wait a minute! Its a spoof! It clearly says that they have received votes for "more than 50%" THATS NOT ENOUGH! They needed 95% to agree. This press release is just announcing WHAT STAGE of the vote they are at! This is a last ditch atempt at a press release to prop the stock and hope to get more consents by deadline Fri. Nov 14th, midnight.

Wednesday November 12, 4:49 pm Eastern Time
Company Press Release

CD Radio Preferred Stock Consents Received

WASHINGTON--(BUSINESS WIRE)--November 12, 1997--CD Radio Inc. (Nasdaq: CDRD - news) announced today
that it has received the consents of holders of more than 50% of its outstanding Common and Preferred Stock for certain
amendments to the terms of its Preferred Stock relating to the Company's ability to redeem the Preferred Stock.

The Company is offering to exchange shares of 10 1/2% Series C Convertible Preferred Stock for its existing Preferred Stock
on the terms and conditions contained in its exchange offer dated October 31, 1997. The exchange offer expires Friday,
November 14, 1997.

CD Radio holds one of two FCC national satellite radio broadcast licenses. The Company is building a satellite-to-car 50
channel radio system for the broadcast of music and other programming to motorists throughout the United States.

------And remember, no matter what happens the MINIMUM dilution will be 3.5 million shares...........;^)
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