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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Vayda who wrote (6365)	8/6/1999 11:55:00 AM
From: Jim Parkinson	Read Replies (1) \| Respond to of 29987

The Gilder article is a must read for anyone holding G/Lor or anyone thinking about. His foresight in 1994 re: CDMA overtaking TDMA has proven to be right on as well as his 1995 comment when an Iridium engineer told him that Iridium's architecture (TDMA) was "set in concrete," after which Gilder said "then it will sink like a stone." He has good things to say about demand too and especially good things to say about Loral's future. A must read! It made my day.

To: Jeff Vayda who wrote (6365)	8/6/1999 12:45:00 PM
From: brian h	Read Replies (1) \| Respond to of 29987

Jeff and all, This press release explains why GSTRF dropped more than it should the last couple of trading days besides the fall out of the general market. It is also a good news for LORAL shareholders to be able to get G* equity interest at a cheaper price. NEW YORK--(BUSINESS WIRE)--August 6, 1999-- Globalstar announced today that it has completed a previously announced $500 million credit facility with a group of banks, led by Bank of America, for the build-out of the Globalstar system. The agreement provides for a $100 million three-year revolving credit facility, a $100 million hree-year term loan and a $300 million four-year term loan. The credit facility is guaranteed by two subsidiaries of Loral Space & Communications, the managing general partner and largest equity owner of Globalstar. The guarantee is secured by certain Loral assets, including the Telstar 6 and Telstar 7 satellites. In consideration for the guarantee, Loral received warrants to purchase an aggregate of 3.45 million Globalstar partnership interests (equivalent to approximately 13.8 million shares of common stock of Globalstar Telecommunications Limited) at an exercise price of $91.00 per partnership interest (equivalent to $22.75 per share of GTL common stock, the average of the high and low trading prices of GTL common stock on August 5, 1999). Brian H.