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

To: Pseudo Biologist who wrote (4654)	9/29/1998 1:24:00 PM
From: Valueman	Read Replies (1) \| Respond to of 10852

Loral Wins KaStar Twin Birds New York - September 219, 1998 - Space Systems/Loral (SS/L), a Loral Space & Communications company (NYSE:LOR), announced today that it has signed an agreement with KaStar Satellite Communications Corp. (KaSTAR) to construct two advanced Ka-band spot beam satellites. The contract is valued at over $300 million. Under the contract, Space Systems/Loral will provide two satellites operating on allocated Ka-band spectrum and potentially Ku-band digital satellite services (DSS) spectrum. One satellite will operate at 109.2 degrees W.L. and the other at 73 degrees W.L., with spot beam capability to South America. The first satellite will be delivered on orbit no later than February 2002. Both will feature on-board processing which will enable more cost-effective data rate service than the Internet and data services provided by current wireline and wireless high-speed data transmission suppliers. KaSTAR, a Denver, Colo.-based company, will provide multimedia capacity and services such as "Internet by Satellite." The KaSTAR Intelligent Satellite System will operate like a "switch in the sky" and provide high-speed, two-way interactive digital transmission on demand to ground network operators as well as direct-to-site options for enterprises and remote locations. KaSTAR intends to provide flexible, low-cost, multimedia services initially across the U.S. and subsequently around the world, as well as augment terrestrial systems. The KaSTAR satellites are unique because they provide extremely flexible broadband at low cost due to spot beams and on-board processing capabilities. KaSTAR's prime Ka-band locations of 109.2 degrees W.L. and 73 degrees W.L. provide full U.S. coverage and also offer a unique opportunity for partnering with direct broadcast services (DBS) and other satellite operators to provide combined services of high-speed Internet access and other digital transmissions. David Drucker is the founder and director of KaSTAR. Tom Moore, previously vice president of Integrated Services Architecture at Cable Television Laboratories (CableLabs), is the chief operating officer.