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Technology Stocks : CellularVision (CVUS): 2-way LMDS wireless cable. -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (842)	1/11/1998 9:55:00 AM
From: James Fink	Respond to of 2063

I have looked at CVUS's stock chart going back to the IPO in February 1996. The lowest stock price ever was 4 3/8. The lowest closing stock price ever was 4 7/8. Unless CVUS is going bankrupt, we are very near the low, based on past price performance.

To: Night Writer who wrote (842)	1/11/1998 10:07:00 AM
From: James Fink	Read Replies (1) \| Respond to of 2063

The following is an excerpt from the October 1997 edition of CED Magazine, which argues that the appellate court should not stay the LMDS auction EVEN IF it should decide that BOCs and cable companies should be allowed to own LMDS licenses in their local service areas. The reason? Because these companies can simply buy the auction winners after the fact, probably for the same amount of money they would have spent to bid for the LMDS licenses in the auction: When the FCC laid out the final channel plan and the auction rules, it also decided who would be eligible to bid, and who would not. In order to promote competition, incumbent local exchange telephone companies and cable companies are not eligible to bid for the Block A licenses in their service areas. The telephone companies were not happy about that decision at all. Some filed court appeals. They could now go to the courts and ask for a stay of the auctions, on the grounds that they will be irreparably harmed if the auctions take place and the courts later overturn the eligibility restrictions--they will have lost the opportunity to bid for the LMDS spectrum. On the other hand, maybe someone will argue that if they are found eligible to own LMDS licenses, they can just as easily buy out the auction winner later, as they can bid and win in the auction itself. It's only money, after all.

To: Night Writer who wrote (842)	1/11/1998 5:15:00 PM
From: Bernard Levy	Read Replies (1) \| Respond to of 2063

NightWriter: In spite of my lack of extreme enthusiasm for CVUS, I view it as extremely undervalued at its current price. The market currently values the entire company, license included at $80M. Patient investors should be well rewarded. In fact, I do not understand why anybody would want to sell at the current price, when the auction is just around the corner. Even an auction delay of 2 or 3 months would not truly justify selling. To provide a benchmark, consider for examply Winstar. It is now one of the hottest stocks in the telecom sector. Yet, it was only at $10 last May. I bet that all those who sold in May must feel like a bunch of fools. The same could easily happen to CVUS. Bernard