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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: donss who wrote (3866)	6/25/1998 4:28:00 PM
From: Valueman	Read Replies (1) \| Respond to of 10852

Don: Yes--it is all about the secondary. All: Launch of U.S. Satellite Delayed MOSCOW (AP) - The launch of an American satellite on a Russian booster has been postponed for almost a year, a news agency reported today. GE American, the owner of the satellite, told its Russian partners that it wanted to install a new antenna array on the satellite, according to Interfax. The launch had been scheduled for July. The decision may have been caused by flaws in the old array, or because GE wanted to modify the satellite for a different orbit, Interfax reported. Because the Russian Proton-K booster rocket built for the launch has a service life that expires in July 1999, it will be used instead to launch a Telstar-6 communication satellite for AT&T Skynet in October, Interfax reported.

To: donss who wrote (3866)	6/25/1998 4:38:00 PM
From: Joseph F. Trombetta	Read Replies (1) \| Respond to of 10852

Wednesday June 24, 6:58 pm Eastern Time Company Press Release Loral Prices Public Offering of Common Stock NEW YORK--(BUSINESS WIRE)--June 24, 1998--Loral Space & Communications Ltd. announced today that it has priced the public offering of 20 million shares of its common stock at $27.00 per share. The net proceeds of the offering will be $524 million before exercise of an overallotment option of three million shares. Loral intends to use the proceeds of the offering to invest in its existing core businesses, to pursue emerging satellite service opportunities worldwide and for possible acquisitions. The company also plans to use offering proceeds in connection with its previously announced offer to purchase 4.2 million outstanding partnership interests in Globalstar, L.P. held by Globalstar's founding service provider partners. The offering is being managed by a group of underwriters led by Lehman Brothers Inc.; Bear, Stearns & Co. Inc.; Donaldson, Lufkin & Jenrette Securities Corporation; BancAmerica Robertson Stephens; C.E. Unterberg, Towbin; CIBC Oppenheimer and NationsBanc Montgomery Securities LLC. A prospectus relating to the offering may be obtained from Lehman Brothers Inc., c/o Automatic Data Processing, Inc., Prospectus Plus, 536 Broadhollow Road, Melville, NY 11747, Tel.: (516) 254-7106 and Fax.: (516) 249-7942. Loral Space & Communications (NYSE:LOR - news) is a high technology company that primarily concentrates on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value-added services, domestic and international corporate data networks, global wireless telephony, broadband data transmission and formatting, Internet connectivity, digital audio radio services, and international direct-to- home satellite services.