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

To: Jon Koplik who wrote (2202)	6/15/2002 11:23:40 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 2737

Text of 6/13/02 DJ Newswires : Leap Wireless Fraud -2: Uses Better Validation Systems (I just want to get all of the various Leap news (which was all totally ignored) "in print" here). (I am still not sure where page 1 (or "-1") was. I cannot find it). Jon. ************************************* Leap Wireless Fraud -2: Uses Better Validation Systems DOW JONES NEWSWIRES SAN DIEGO -- Leap Wireless International Inc. (LWIN) said it has seen a "significant reduction" in the mitigation of fraud after taking steps to implement processes, systems and controls to detect fraud and screen for those engaged in fraudulent activity. When Leap Wireless reported first quarter results in May, the company said it observed a "significant increase in the occurrence of fraud ... over that experienced in the preceding year." The company defined fraud as people using its service under a false name as well as third-party dealers reporting wireless phones as sold and then activating them under a false name or selling phones to people not eligible to use Leap Wireless' service. In a press release Thursday, Leap Wireless said the implemented measures include improved credit-card and customer validation systems and reviews of dealer performance. Leap Wireless also confirmed that it expects to meet minimum covenants for earnings before interest, taxes, depreciation and amortization added to vendor facilities earlier this year. The company, which wasn't immediately available to provide more information on those targets, has confidence in this goal because of progress in mitigating fraud and expectations that the business will perform consistent with plan. Updated June 13, 2002 7:34 a.m. EDT Copyright © 2002 Dow Jones & Company, Inc. All Rights Reserved