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Gold/Mining/Energy : JDS Fitel -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (708)	2/4/1999 9:59:00 AM
From: Technopeasant	Respond to of 815

Not for distribution........still living in the old world I see. THE FURUKAWA ELECTRIC CO. - ANNOUNCEMENT RE PRIVATE PLACEMENT TORONTO, ON-- The Furukawa Electric Co., Ltd. announced today that it has agreed to sell via private placement, 3.13 million common shares of JDS FITEL Inc. (JDS - TSE) at $60.00 per common share through CIBC Wood Gundy Securities Inc. The closing is expected to take place on or about February 16, 1999. As a result of the offering, Furukawa will continue to hold approximately 37.4 million common shares of JDS FITEL, or the equivalent of approximately 48% of the outstanding common shares of JDS FITEL (approximately 45% on a fully-diluted basis). The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. Not for distribution in the U.S.