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To: djane who wrote (3227)	3/2/1999 10:09:00 AM
From: Skywatcher	Read Replies (2) \| Respond to of 29987

You are ONE HELLUVA news machine DJANE! Thanks...this thread is back on track with the latest and greatest updates and discussions...and the fact that the price of the stock is back on motion in the right direction doesn't hurt either ;-) chris

To: djane who wrote (3227)	3/2/1999 5:30:00 PM
From: djane	Respond to of 29987

Forbes. Building Iridium's Infrastructure March 2, 1999 forbes.com:80/forbes/99/0308/6305098s4.htm By Joanne Gordon THE POWER TO MAKE a wireless call from anywhere on the globe was the dream of Iridium. The venture, 20%-owned by Motorola, with 18 telecom partners around the world, has 66 satellites orbiting the earth and offices in 15 countries. That's a logistical nightmare. A traveler from Chicago makes a call from Istanbul to Paris. Iridium must track the call's length, account for local costs in various currencies, bill the caller and distribute the proceeds to the right overseas networks. Millions of times a month. Aspirin, please. Andersen built the underlying software and helped decide how to service and bill customers. It trained staffers in how to deal with callers from Australia to Canada. It designed billing to capture each call, ID callers, collect money and divide it up. Andersen customized and linked some 100 software packages. It built a database to sort calls and send details to regional offices. Local computers convert each call's cost to local currency and adjust for exchange rates and local taxes. After two years of work the system went live Nov. 1. Iridium expects to have 4 million to 5 million subscribers by 2002. \| back to top \| back to story Read more: By Joanne Gordon On the Cover From March 08, 1999 Issue

To: djane who wrote (3227)	3/2/1999 5:33:00 PM
From: djane	Respond to of 29987

briefing.com on IRID 13:10 ET ****** IRIDIUM WORLD COMMUNICATIONS LTD. (IRID) 21 3/4 -2 5/8. This provider of low earth orbiting satellites and terrestrial cellular systems continues to disappoint as the company warned last night that delays in a service roll-out would leave the company short of Q1 subscribers and revenue expectations. The revelations do not appear to be new, but the stock is still getting hit nonetheless on the view that some hope had been held that the company would somehow be able to meet expectations. While the company did not provide details on its Q1 financials, it appears that the subscriber and revenue miss in Q1 stems from products shortages and not having enough trained channels to sell its products, rather than inadequate demand. Still, given the pent-up demand that appears to exist for phones and pagers, it is too bad that delays in its service roll-out will prevent Iridium from meeting Q1 targets. Much of the blame seems to lie with its product manufacturers, Motorola and Kyocera of Japan, not being able to meet production demands. But investors are not taking kindly to the news regardless, continuing to sell Iridium stock. The stock has been on a downward path the past several weeks over concerns that Iridium may be in violation of its default agreements with its lenders. In fact, the stock has lost around 50% of its value from a recent high of $43 1/4 in early January after the company said the it was unlikely to see a rapid enough increase in subscriber growth to meet the targets agreed upon with its lenders. The fact that management has confirmed it is behind on the subscriber count it promised to bankers has not eased the pressures on the stock, although Iridium is working closely with its lenders to modify its $800 mln credit line. Still, while much of the delay in service rollout may not be Iridium's fault, the stock continues to suffer until management can prove that it can deliver the goods and live up to the covenants of its loan agreements.