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

To: Steven Bowen who wrote (1077)	2/10/1998 10:27:00 AM
From: James Fink	Read Replies (1) \| Respond to of 2063

Steve, CVUS has 16 million shares outstanding. Using this figure increases the per-pop value needed to support the share prices listed to as follows: $7 -- 13.02 per pop $10 -- 18.60 per pop $15 -- 27.90 per pop $18 -- 33.49 per pop $22.5 -- 41.86 per pop

To: Steven Bowen who wrote (1077)	2/10/1998 11:13:00 AM
From: Brian Coakley	Read Replies (1) \| Respond to of 2063

Steven, Excellent post. Just my opinion, but I don't feel that the LMDS spectrum will get the full "credit" for 13 channels, like WCII might get for their channel pop calculations. Unfortunately, I think the calculation that everyone else (wall st) will use after this auction will be per population, and not per channel pop. I hope you are right on the valuations! Regards, Brian

To: Steven Bowen who wrote (1077)	2/19/1998 7:02:00 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 2063

Steve, I'm not entirely clued into CVUS and the LMDS auction because I haven't read enough yet. Can you please help me out? As I understand it, you're saying that if a channel pop is worth $2.50 then CVUS (with 12.4M shares outstanding) is worth over $22/sh. Also, I see Winstar has already bid over $3 per channel pop for the other A block license in NYC... at the same time I see CVUS trading at $6/sh!! Is this the opportunity of a lifetime or did I misunderstand something? How much is CVUS worth and how do you arrive at that number? Thanks, Rob