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To: Bill Harmond who wrote (77940)	9/21/1999 4:04:00 PM
From: dbblg	Read Replies (1) \| Respond to of 164684

OT LWIN QCOM spinoff, moving on vendor financing from LU. They have been rolling out a low/no-frills local-only prepaid wireless solution called Cricket--30 bucks, unlimited calling. Seems to be going well, though they are running into some people who keep their phone lines open 24/7, which screws with their planning assumptions. Coming up w/valuation is tough, since Cricket is kind of unique, and the assumptions the rest of the industry uses about marketing, customer acquisition, and infras. costs don't apply. There are also overseas units... After getting whipsawed in WCII and NXTL, I decided I don't have the patience for infrastructure plays and sold the little LWIN I had about 10 points ago. :(

To: Bill Harmond who wrote (77940)	9/22/1999 10:19:00 AM
From: H James Morris	Respond to of 164684

William, Lwin? I just got back to San Diego last night,so I'm trying to catch up. Lwin is a spin off from Qcom, based right here in San Diego. I think I've made comments on it here before.Btw, another SD based holding I have is Cymi. More pork chops yesterday;-) >> San Diego, Sept. 21 (Bloomberg) -- Shares of Leap Wireless International Inc., a phone-service provider, rose 31 percent after it said it will buy $660 million in wireless equipment from Lucent Technologies Inc. and Ericsson AB, indicating that Leap will soon roll out its network into new U.S. markets. Leap rose 5 3/8 to a record 22 7/8 in trading of 6.6 million shares, more than 19 times the three-month daily average. The San Diego-based company, which offers wireless service in Chattanooga, Tennessee, was spun off from Qualcomm Inc. last year. It will use the equipment to expand into other markets. Lucent and Ericsson said they will finance the purchases of $330 million of equipment and services from each company. ``The access to $660 million in network financing will enable the company to meet an aggressive roll-out schedule of new U.S. market launches,' said Kevin Roe, an analyst at ABN Amro, in a note this morning. Leap will buy digital wireless gear including base stations and call routing switches to expand its Cricket Communications wireless service, which provides local phone service at flat rates. Lucent and Ericsson will also provide network design and training services for the Cricket network. Leap has the rights to buy additional licenses that would let the company offer its Cricket service to 24 million more people in cities such as Charlotte, North Carolina; Salt Lake City, Utah; and Albuquerque, New Mexico.<<