Jeffrey-
This news item hit my Investor Insight program yesterday. Do you know if any connection to GST Telecommunications?
I've owed this stock for a few months and I'm still waiting for it to come back...I'm in at 15.
Jeff Christensen
BW1201 SEP 27,1996 10:39 PACIFIC 13:39 EASTERN
( BW)(CANADIAN-PROGRAMMING)(CIP.) Canadian Programming Concepts
Ltd., the predecessor of GST Global Telecommunications Inc.,
announces signing of letter of intent
Business Editors, Telecommunications Writers
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 27, 1996--
CANADIAN PROGRAMMING (VSE: CIP) GST Global Telecommunications Inc.
has signed a letter of intent to acquire 80 percent of the issued and
outstanding shares of Vitacom Corporation from Cable and Wireless
Holdings, Inc., the US subsidiary owned by Cable and Wireless
Holdings PLC, one of the worlds largest telecommunications providers,
will retain a 20 percent equity holding in Vitacom Corporation.
Vitacom is a telecommunications services provider based in
Mountain View, California and Latin America specializing in the
integration of fiber networks with satellite communications. Vitacom
sells cost effective private network solutions in the form of
equipment and services with emphasis on engineering, manufacture, and
integration of satellite communications systems, wireless extension
technologies and the services of Cable & Wireless Group. These
offerings encompass Internet, data, messaging, video and voice
communications. The company provides design, development and
manufacturing of VSAT equipment and services which are available to
all its customers.
Vitacom has considerable service resources which include
maintenance and repair facilities in California and Mexico, along
with maintenance capability throughout Latin America and Network
Operation Centers (NOC) in California and Mexico.
Vitacoms' network management systems are leaders in the VSAT
industry, providing real-time monitoring and control capabilities for
over 100 operating parameters of every earth station in the network.
At the heart of these capabilities are the Vitacom proprietary
Diagnostic and Monitoring System product line and Network Management
System which allows each station to operate unattended, yet fully
supervised from the Network Control Centers. These systems provide
continuous, automatic control of each remote earth station, maintain
a complete database of the equipment and operating parameters of each
station, and generate network operation statistics.
Vitacom has supplied over 1,000 earth stations and approximately
40 networks are presently in operation. Technicians at the Network
Control Centers monitor many of these networks and provide on-line
services for the remote stations. Diagnosis and problem resolution
occurs on a 24-hour basis.
Canadian Programming Concepts Ltd. has received Vancouver Stock
Exchange approval for its change of name to GST Global
Telecommunications Inc. GST Global Telecommunications Inc. will be
traded on the Vancouver Stock Exchange under the symbol GGB.
--30--dsl/clv*
CONTACT: Canadian Programming Concepts Ltd.
Rob Blankstein, 604/688-0553 or 800/667-4366
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