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

To: gtc123 who wrote (1334)	2/26/1998 2:08:00 PM
From: James Fink	Read Replies (1) \| Respond to of 2063

Larry, I think excess eligiblity means that a bidder has the power to bid -- based on upfront payments -- on, for example, five licenses but currently has outstanding bids on only two licenses. As the auction continues, the FCC will require that more and more of a bidder's eligibility actually be exercised. If the eligibility is not exercised, it will be lost ("use it or lose it"). Once excess eligibility is zero, bidders will not be able to bid on any new markets without withdrawing bids from existing markets on which it has oustanding bids. It will be a zero sum game at that point.