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

To: Valueman who wrote (4991)	12/9/1998 8:56:00 AM
From: jopawa	Read Replies (1) \| Respond to of 10852

Wednesday December 9 2:34 AM ET Pentagon Says Hughes Gave Too Much Data To China WASHINGTON (Reuters) - A preliminary Defense Department report found that Hughes Electronics Corp. gave China information potentially damaging to U.S. national security after a Chinese rocket carrying a Hughes-built commercial satellite crashed in 1995, The Washington Post said Wednesday. The Post quoted administration officials as saying the Pentagon concluded that Hughes ''went well beyond what should have been allowed'' when it told China the crash was caused by problems with the rocket's fairing, a heat-resistant shroud covering the satellite. One official told the paper that top Pentagon officials wanted additional questions answered before a final report was sent to Congress. The report was prepared by Air Force Intelligence and the Defense Technology Security Administration at the request of two congressional committees investigating the transfer of sensitive space technology to China. The Post quoted a Hughes spokesman who said that no one at the company had seen the report but that it stood by earlier statements that it had not transferred any information that China could use to improve its ballistic missiles. Ballistic missiles do not have fairings. Hughes and Loral Space & Communications Ltd (NYSE:LOR - news). are under investigation by the Justice Department and two congressional committees for their role in transferring technology to the Chinese after satellites belonging to Hughes and Loral were destroyed in two Chinese rocket explosions. The Hughes satellite was to have been launched into space in 1995, but the Chinese Long March rocket carrying it exploded only seconds after takeoff, prompting Chinese officials to blame the satellite. Hughes asked for and received permission from the Commerce Department to discuss its views on what happened, although the company was told to be careful not to disclose rocketry data that could assist Beijing in developing military missiles. Hughes says its conversations with the Chinese were very general.