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

To: P2V who wrote (2353)	12/5/1998 11:08:00 AM
From: P2V	Read Replies (1) \| Respond to of 5390

* Ericy & Globalstar (Contract "bearing fruit") Duhbull Bloody 'eck ! (Sorry Mika, couldn't resist) From Nokia thread -- Message 6697593 Original press release -- ericsson.se Date: Apr 03, 1998 Ericsson OMC Ltd. has signed two contracts totalling USD 204 million (SEK 1,630 million) with US based company, Globalstar for the supply of hand-held and stationary satellite phones. The contract values are USD 120 million and USD 84 million respectively. These are the first contracts for satellite phones that Ericsson has signed with a global satellite operator. The hand-held terminals can be used in two modes: satellite and GSM. The satellite communication mode enables the terminal to be used even in remote areas where there is little or no GSM coverage, whereas the GSM mode can be used in areas of good reception. The hand-held terminals are suitable for users who need to make and receive calls at all times, no matter where in the world they are located. They are ideal for people who are on the move and who are likely to travel to remote places. The stationary telephone terminals are suitable for remote areas where previously telecom operators have not installed a mobile or wired system due to the large investment required. The terminal, for example, could be situated in a small remote village in a phone booth for the villagers' use. It also interfaces to ordinary telephones, pay-phones, data ports and fax machines. Globalstar is a satellite-based, wireless telecommunications system designed to provide voice, data, fax and other telecommunications services to users worldwide. It will sell access to a worldwide network of regional and local service providers, including strategic partners. Globalstar anticipates having the system working by mid-1999. Ericsson's 100,000 employees are active in more than 130 countries. Their combined expertise in fixed and mobile networks, mobile phones and infocom systems makes Ericsson a world leading supplier in telecommunications. Additional information about Ericsson and its products can be found on the World Wide Web at ericsson.com Additional information about Globalstar and its products can be found on the World Wide Web at globalstar.com FOR FURTHER INFORMATION, PLEASE CONTACT Kathy Egan, Vice President, Communications, Ericsson Inc. Tel. +1 212 685 4030 Per Bengtsson, Vice President, Investor Relations, Ericsson Inc. Tel. +1 212 685 4030