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

To: jopawa who wrote (4992)	12/9/1998 5:12:00 PM
From: Valueman	Read Replies (1) \| Respond to of 10852

As expected, SS/L gets another Intelsat bird order: INTELSAT Board Approves Buy of New Satellite; Considers Next Steps in Restructuring Process WASHINGTON, Dec. 9 /PRNewswire/ -- Meeting here 3-8 December 1998, the 125th Meeting of the INTELSAT Board of Governors approved the purchase of a fifth satellite in the INTELSAT IX satellite series. The INTELSAT 905 spacecraft, built by SS/Loral, will be delivered in early 2002 and will provide additional capacity in the Atlantic or Indian Ocean Regions, depending on the successful launch and deployment of the four INTELSAT IX satellites already on order. Considerable progress was made toward the commercialization of INTELSAT. The Board tasked INTELSAT Management with developing business plans for a number of specific structural options for presentation to the next meeting of the Board in March 1999. The Board has scheduled two additional days in March to devote to the analysis of the business plans, including the related financial and legal ramifications. The Board expects to narrow the number of structural options at that time. The schedule remains on target, with the expectation that a final recommendation will be presented to the Assembly of Parties in October 1999. INTELSAT owns and operates a global communications satellite system. With forecasted 1998 revenues of approximately US$1 billion, the INTELSAT system provides voice/data, video, and Internet services to over 200 countries and territories via satellite. For more information, visit the INTELSAT Web site at www.intelsat.int. SOURCE: INTELSAT