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

To: Ok2Launch who wrote (5210)	1/28/1999 4:53:00 PM
From: jopawa	Respond to of 10852

I'll post several articles from Reuters: Thursday January 28, 9:31 am Eastern Time Company Press Release Telstar 6 Launch Delayed MOSCOW--(BUSINESS WIRE)--Jan. 28, 1999--Loral Space & Communications (NYSE: LOR - news) announced today that, due to a problem with the digital computer on the fourth stage of the Proton launch vehicle, the launch of Loral Skynet's Telstar 6 satellite scheduled for January 30 has been delayed for not more than 30 days. Loral has been informed by Proton rocket manufacturer, Krunichev, that replacing the computer involves removing the rocket from the launch pad and demating its fourth stage. ''Naturally, we are disappointed by this unfortunate technical problem on the Proton rocket,'' said Terry Hart, president of Loral Skynet. ''We are confident, however, that a new launch date will be scheduled in the near term and our satellite will be fully operational by the end of the first quarter of 1999.'' Dr. Hart said the delay would in no way prevent Loral Skynet from continuing to meet commitments to customers for satellite transmissions. Telstar 6, which carries a total of 52 transponders -- 24 at C-band and 28 at Ku-band -- will be one of the most sophisticated and powerful communications satellites available to broadcasters and program distributors in North America, covering the continental United States, Puerto Rico, the Caribbean, and into Canada and Latin America. It will be launched on board a Proton rocket from the Baikonur Cosmodrome in the Republic of Kazakhstan. The state-of-the-art Telstar 6 satellite, manufactured by Space Systems/Loral, will provide Loral Skynet's broadcasting, education and news gathering customers with the clearest, and most interference-free broadcast video and data communications transmissions available in the industry today. Loral Space & Communications is a high technology company that primarily concentrates on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value-added services, domestic and international corporate data networks, global wireless telephony, broadband data transmission and content services, Internet services, and international direct-to-home satellite services. For more information, visit Loral's web site at loral.com.