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Technology Stocks : CAWS - Wireless Cable (New and Improved) -- Ignore unavailable to you. Want to Upgrade?

To: VanGo101 who wrote (4819)	3/11/1998 12:05:00 PM
From: Ken Turetzky	Read Replies (1) \| Respond to of 5812

ATEL to be de-listed: Nasdaq Stock Market Informs American Telecasting, Inc. of Intent to Delist Class A Common Stock PR News Wire via Dow Jones COLORADO SPRINGS, Colo., March 10 /PRNewswire/ -- American Telecasting, Inc. ("ATI") (Nasdaq: ATEL) announced today that the staff of The Nasdaq Stock Market, Inc. has informed ATI that Nasdaq has determined that ATI is not in compliance with the new net tangible assets/market capitalization/net income requirement pursuant to NASD Marketplace Rule 4310(c)(02) and that the Company's Class A Common Stock is scheduled for delisting from the Nasdaq Stock Market on March 16, 1998. Nasdaq procedures permit the Company to request a temporary exception to the new requirements by sending a hearing request to Nasdaq prior to the close of business on March 13, 1998, and that such request will stay the delisting. The Company intends to submit such a hearing request. Compliance with the new net assets/market capitalization/net income requirements will require the Company's Class A Common Stock to trade consistently at prices greater than $1-3/8 per share, which is above the current trading price of the stock. ATI is unable to predict whether any appeal would be successful. If the appeal is unsuccessful, the Class A Common Stock would be removed from listing on the Nasdaq Stock Market and it would likely be more difficult to buy or sell the Class A Common Stock or to obtain timely and accurate quotations to buy or sell. In addition, the delisting process could result in a decline in the trading market for the Class A Common Stock, which could potentially depress the Company's stock and bond prices, among other consequences. American Telecasting, Inc. is one of the largest operators of wireless cable television systems in the United States, serving approximately 140,000 video subscribers in 33 markets, as of September 1997. Wireless system operators use MMDS, MDS, and ITFS microwave frequencies at approximately 2.5 GHz to deliver multiple channel subscription television programming and high speed Internet access services. For more information, visit ATI's web sites at amtele.com or wantweb.net, or call 719-260-5533. American Telecasting, Inc. headquarters are located at 5575 Tech Center Drive, Suite 300, Colorado Springs, Colorado, 80919. /CONTACT: David K. Sentman, Senior Vice President and CFO of American Telecasting, Inc., 719-260-5533/ 18:05 EST