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

To: gdichaz who wrote (4557)	9/14/1998 9:14:00 AM
From: brian h	Respond to of 10852

Chaz and all, Monday September 14, 4:18 am Eastern Time Loral Orion, India's Natelco form JV for Internet NEW DELHI, Sept 14 (Reuters) - U.S.-based international satellite communications company Loral Orion on Monday announced a tie-up with Indian telecommunications provider Natelco to deliver satellite-based Internet and private network services. The joint venture, Loral Orion India Ltd, will provide high-speed Internet access via satellite to and from India for business clients, Internet service providers (ISPs) and software development firms, Loral Orion president W. Neil Bauer said. Loral Orion, a subsidiary of Loral Space and Communications (NYSE:LOR - news), will hold 49 percent of the venture and Natelco 51 percent. ''Throughout Asia, Loral Orion is seeing untapped demand for reliable business communications, including high-speed Internet access to the United States,'' Hans Giner, president of Loral Orion Asia Pacific, told a news conference. ''Loral Orion and Natelco anticipate even greater demand as many software technology parks and new ISPs are entering the market that is adding about 10 percent more users each month,'' Giner said. Giner said he expected the number of Internet subscribers in India to rise to about two million by year 2000 from 150,000 now. India will soon end a three-year-old state monopoly on Internet access, by allowing an unlimited number of ISPs. ''The joint venture will offer Loral Orion's WorldCast Internet access services and value-added services, including Internet bursting services that allow customers to expand bandwidth as needed,'' Loral Orion said in a statement. Loral Orion will also offer advanced transmission technologies to the joint venuture, including digital video broadcasting which delivers more efficient and secure transmissions, the company said. Loral Orion said the joint venture initially would use international satellites covering the Indian region, then use the Orion 3 satellite once it became operational in early 1999. Natelco provides a radio paging service in 25 Indian cities as well as turnkey VSAT (very small aperture terminals) services. Brian H.