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Technology Stocks : Excel Communications

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To: Rob S. who wrote (2432)	12/20/1997 11:57:00 PM
From: Joe Jackson	Read Replies (1) of 2806

Rob, I have a friend who was meeting with Kenny on Friday night. I gave my friend a list of several questions I wanted him to ask Kenny. 1. What are the details about the Burns, Lukens resignation from the board? ans. This was not a surprise. It was planned to be that way from the beginning. They were to be on the board during the interim transition period of the merger. 2. Where does he expect the stock to go from here? ans. Predicts that it will be in the low 20s around the first of the year and 30 by end of second quarter. 3. What do you make of all of the short selling? ans. I think we will take care of that in the near future with the buy back. 4. What can we expect in new products. ans. Were are not planning to introduce any new products this year. The cost of introducine products that do not have complete coverage is to high. We will wait until the time is right. ie When we introduced Pagers there were only 49% of the reps in an area that had coverage. We now have 85% coverage but by beginning when we did was a mistake and not fair to those reps in undercovered areas. Dial one long distance is our bread and butter and where we want to concentrate. Our next major transition will be the roll out of the new commercial plans resulting from the Telco acquisition. (He is very excited about this and expects it to be a great success.) That will begin in Jan. They are planning a major introduction to the reps on Jan 20. After that our goal is to move into Local Service. (Probably a year away because of the same problems of high percentage of coverage and all of the buracratic obstacles). In the future we are looking toward Electrical service. Probably 3 years. In the mean time his big goal is to surpass Sprint in by next year to become the third largest provider of residential long distance (Assuming MCI/WorldCom are counted as one company by then.) 5. What about the rates increases? ans. The Dime Deal has been successful but has not been profitable because we lost money in the Intrastate (in state call) in some states where they are regulated. Excel had planned to eat the difference until they became deregulated with the introduction of local service. Since local service is not happening so quickly they can't afford to keep eating the loss. Therefore, the Dime Deal rates will be adjusted for Intrastate (In state calls) in some states for new customers coming in after 1 Feb and for all customers after May 98. It only affects certian states and Interstate (From state to state) will not change for any customers and remain at 10› per min all the time. These are responses that I have written in my own words after taking notes from my friend. They are not quotes but are my understand of the conversation.

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