Winstar Comm. (WCII) Message Board

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Technology Stocks : Winstar Comm. (WCII)

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To: SteveG who wrote (3618)	1/30/1998 3:04:00 PM
From: Steven Bowen	Read Replies (2) of 12468

OK, I just talked to Frank Jepson, Sr. V.P. of Capital Market Relations regarding all the reported insider selling. He confirmed that the large seller of the stock was Dennis Patrick, who had 100% of his net worth tied up in WinStar stock following the takeover of his Milliwave Company one year ago. The move was totally a deversification move for him. He still holds over one million shares. The other sellers were minor, such as Nate Kantor, who regularly this time of year makes charitable contributions of WinStar stock. The amount was negligible compared to his holdings. On a side note; he told me that Dennis Patrick left the company several months ago. This was news to me. It was such a big deal when he joined the company, then he quietly slipped out the back door. For those rather newbies here, Mr. Patrick was an ex chairman of the FCC whose company, Milliwave, acquired many 38 GHz licenses in the same manner that WinStar had. WinStar bought his company in an all stock deal and he joined WinStar's BOD. It was pretty news worthy at the time.

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