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Technology Stocks : Orckit (ORCT) -- Ignore unavailable to you. Want to Upgrade?

To: nic who wrote (1137)	4/20/1998 5:05:00 PM
From: FreedomForAll	Respond to of 1998

If I remember correctly TXN paid $395 million for AMTX. That would be about $28 for each ORCTF outstanding share. BUT, I don't think the insiders would sell for that price. (I wouldn't voluntarily, but I didn't want to give up my AMTX shares either.) David

To: nic who wrote (1137)	4/20/1998 5:10:00 PM
From: FreedomForAll	Read Replies (1) \| Respond to of 1998

Microsoft to seed Israeli fund By Reuters Special to CNET NEWS.COM April 20, 1998, 11:30 a.m. PT TEL AVIV, Israel--Microsoft (MSFT) will invest $7.5 million in the Orion Israel Fund, an Israeli venture capital fund, Microsoft's executive vice president Steve Ballmer said today. "We will invest where we see opportunities, particularly outside of the United States--where venture capital is more developed--and we know that the local software industry will be good for us," Ballmer told a news conference at Ben Gurion airport near Tel Aviv. This is Microsoft's first investment in an Israeli venture fund. The software giant will also have an option to invest an additional $7.5 million in specific projects and will provide Orion with due diligence and managerial support. The fund intends to raise $100 million over the next few months and plans to invest in Israeli Internet technology companies. Ballmer also announced that Microsoft will provide the know-how to help Israel establish a demo of its computerized Accessible Government project. "The Accessible Government project is working to open up the interaction between the citizens and the government over the Internet," he said. In the first stage, the project will allow the public to comment on the legislative process via the Internet. The company's only research and development center outside the United States is located in Haifa, Israel. It employs about 150 people.

To: nic who wrote (1137)	4/20/1998 5:28:00 PM
From: D.J.Smyth	Respond to of 1998

no, other than an extrapolated misunderstanding. when amanti was purchased by Texas Ins., Orckit's market value was approximately $245 million. Amanti was purchased for a 60% premium to Orckit's market value. if Orckit had been given the same relative value, Orckit's relative share price would have been approximately $28. We still have Orckit trading under the relative value of Amanti, with Orckit garnering a significant contract with GTE, the revenue from which will nearly double Orckit's revenue stream over the next two years (estimates being on the conservative side). And this is one contract. There are also the potential European and South American contracts yet to be realized, but which could be announced any day. I should have stated that Orckit could be trading at $40 relative to (a) increased contracts and (b) the premium paid for Amanti (my personal extrapolation).