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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: Rono who wrote (2097)	6/3/2002 1:36:25 PM
From: Rono	Respond to of 2737

"In June 2001, we acquired wireless licenses in Buffalo and Syracuse, New York from MCG PCS, Inc. and issued, as partial consideration for those wireless licenses, an $18.0 million promissory note that matures in June 2002. The note accrues interest at the rate of 8.5% per annum, compounded quarterly." From 3/31/02 10Q EDIT: "In connection with our acquisition of wireless licenses in Buffalo and Syracuse, New York that closed in June 2001, the seller has asserted that based on the prices of certain wireless licenses auctioned by the FCC in Auction 35, it is entitled to a purchase price adjustment under the purchase agreement for such licenses of approximately $39.8 million. The arbitration concerning this claim is pending at this time. Under the terms of the purchase agreement, if we are obligated to pay a purchase price adjustment, we are entitled to pay such additional amounts in cash or Leap common stock, at our discretion. We believe the seller?s position is without merit, and we are vigorously defending against the claim of the seller."