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To: Uncle Frank who wrote (52305)	12/3/1999 8:51:00 AM
From: Ruffian	Respond to of 152472

Australia's AAPT Earmarks A$250M For Queensland CDMA SYDNEY -- AAPT Ltd. (A.AAP), an Australian telecommunications company, said Friday it has earmarked A$250 million for the development of its code division multiple access, or CDMA, mobile network in Queensland state. The company, which is around 80%-owned by Telecom Corp. of New Zealand (NZT), also plans to conduct its national CDMA roll out from the Gold Coast, Queensland. AAPT is on track to launch the service in the second half of 2000 and will progressively roll out the service throughout Australia's populated areas, AAPT and the Queensland state government said in a joint statement. The company reiterated that it is considering listing the CDMA business as a separate company. Around 0350 GMT, shares in AAPT were up 12 cents at A$5.15, in a market up 0.5% at 3089.6 points. -By Graham Morgan; 61-2-8235-2962 graham.morgan@dowjones.com Briefing Book for: A.AAP \| NZT \| A.TNZ \| BEL