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Technology Stocks : NEXTEL -- Ignore unavailable to you. Want to Upgrade?

To: Ken Benes who wrote (5179)	3/17/1998 10:38:00 AM
From: Arnie Doolittle	Read Replies (2) \| Respond to of 10227

Look for over 5 million shares traded today. Here's the reason for today's action: Company Press Release SOURCE: Nextel Communications, Inc. Nextel International Invests in Japan MCLEAN, Va., March 17 /PRNewswire/ -- Nextel Communications, Inc. (Nasdaq: NXTL - news) today announced that its wholly owned international subsidiary, Nextel International, Inc., has purchased a 21% stake in a Japanese wireless operator for approximately $32 million in equity and shareholder loans. The Japanese wireless operator currently provides digital specialized mobile radio services to approximately 40,000 subscriber units in the 1.5 GHz frequency band and expects to begin offering integrated services (including mobile telephone service) in Tokyo later this year. The Japanese operator's nationwide 12 MHz license to provide interconnect and digital dispatch capabilities covers areas of Japan where approximately 125 million people live or work. Nextel Communications, Inc., based in McLean, Virginia, and Nextel International, Inc., based in Seattle, Washington, now own licenses to provide wireless services in areas of the world where more than 633 million people live or work. On a proportionate ownership basis, such licensed frequency coverage represents more than 431 million people in 12 of the world's top 25 cities, including major metropolitan population centers in Argentina, Brazil, Canada, Japan, Mexico, Shanghai, Philippines, Peru and the United States.