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To: DaveMG who wrote (144)	7/18/1999 12:26:00 AM
From: DaveMG	Read Replies (2) \| Respond to of 426

Nextwave There is a 73 page "Disclosure Statement Accompanying the Joint Plan of Reorganization. (6/25/1999) available at: nextwavetel.com It is an interesting read. Excerpts include: "NextWave's 163 million POP CDEF-block footprint represents the third largest in the United States and the only national PCS footprint other than those of Sprint and AT&T." "NextWave intends to be a leading provider of wireless Internet access and voice communication services, and plans to build and operate the first nationwide wireless packet-switched network specifically designed to offer a combination of untethered high speed wireless Internet access and voice-over-Internet Protocol (“IP”) service." "NextWave believes that by deploying the only nationwide 3G wireless network, designed specifically to support high speed wireless Internet access, it will be uniquely positioned to capture market share in the emerging wireless data market." "The build-out will require significant amounts of vendor financing as well as new cash investments to provide working capital through the point at which NextWave becomes cash flow positive ... NextWave's business plan requires approximately $2.5 billion in capital expenditures through the commercial launch of its PCS markets, depending upon whether NextWave ultimately decides to use GSM or CDMA technology." "NextWave intends to use the most up-to-date, state-of-the-art technology available at the time of implementation of its PCS network. Current digital technologies being considered, CDMA and GSM are currently operating on 2G platforms. 3G technology is likely to become a global standard that will offer superior capacity and operating characteristics. If 3G equipment is available with the time frame required by NextWave, the Company plans to utilize 3G equipment. If 3G equipment is not available at the time of network construction, NextWave's choice of 2G technology must provide a cost-effective transition to 3G technology. The future modification and transfer from one technology to another would potentially create additional cost for NextWave not shared by its competitors."