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To: JohnG who wrote (84775)	10/25/2000 8:31:17 PM
From: FaultLine	Respond to of 152472

A few interesting paragraphs from the Bellsouth site: =========== bellsouth.com BELLSOUTH SPECIAL MEETING OF SHAREHOLDERS Technology Wireless carriers in Latin America typically choose from among four signal transmission technologies for cellular frequency communications — two analog and two digital. The earlier analog standards include Advanced Mobile Phone Service, or AMPS, and narrowband AMPS, or N-AMPS. The digital signal transmission technologies include Time Division Multiple Access, or TDMA, and Code Division Multiple Access, or CDMA. Wireless carriers offering service at higher PCS frequencies all use a digital transmission technology. Digital technologies offer more capacity and lower network costs per subscriber than the older analog technologies and allow carriers to offer more value-added services. The two different digital standards are incompatible with each other. TDMA and CDMA handsets typically include AMPS transceivers to facilitate roaming into areas where the digital technology of the subscriber’s home system is not available. A third digital cellular technology that is commonly deployed in Europe and some other parts of the world is Global System for Mobile Communications, or GSM. Our most recent competitors in the Venezuelan wireless service market have deployed GSM technology. We have deployed digital technologies in all of our current Latin American markets except for Uruguay, where CDMA digital service at PCS frequencies is expected to supplement the existing analog network by the end of the year. We are also installing an all-digital CDMA network using PCS frequencies in our newest operation in Guatemala. We use either TDMA or CDMA in our Latin American operations, selecting the type of digital technology for each particular market that optimizes the combination of cost, quality and capacity available at the time. We do not believe the choice of digital transmission technology, whether TDMA or CDMA, plays any role in the decision by a material number of potential customers in our Latin American markets when selecting a wireless service provider. However, while roaming capability is available, whether through utilization of AMPS technology or the digital network of a competitor, the lack of a common digital technology across all of our Latin American companies means that customers will not presently be able to roam onto the digital networks of all of our other Latin American companies. Overview of Country Operations BellSouth owns all or a substantial interest in each of its Latin American companies. Our largest operations by revenue are in Venezuela, Brazil and Argentina. We also have operations in Chile, Ecuador, Nicaragua, Panama, Peru, Uruguay and Guatemala. In addition, we have recently acquired a controlling interest in a wireless operator in Colombia, which has in turn acquired another Colombian wireless provider. We typically play a lead role in the management and direction of our Latin American companies. In some cases, the ownership structure of these companies reflects government requirements that local owners hold an interest in the companies’ telecommunications licenses. When entering new markets in Latin America, we typically seek to build strong relationships with one or more local partners who are more familiar with the country’s business and political environment. =============== A review of each country then follows. --FaultLine