To: Lazarus who wrote (8390 ) 3/5/1999 1:58:00 PM From: pitchlyn Respond to of 15987
Quite a thought provoking News release from PLFM today -----> (Stock UP modestly (0.69 X 0.73 cents, up 15%) after MM shakeout earlier this week: ) Friday March 5, 9:03 am Eastern Time Company Press Release Platforms International Technology Symposium and Press Conference LOS ANGELES--(BUSINESS WIRE)--March 5, 1999-- Howard A. Foote, President and CEO of Platforms International Corporation (OTC:BB ''PLFM'') announced today the Platforms Technology Symposium and Press Conference was held on schedule at the Los Angeles Renaissance Hotel on March 3, 1999. ''I'm pleased to report,'' stated Mr. Foote, ''the Symposium provided a dynamic forum for the public presentation of our wireless telecommunications and satellite deployment technologies, as well as for a number of announcements on the realization of some of our most significant corporate goals and objectives. In attendance were a number of distinguished members of the investment community, the aerospace and telecommunications industries, as well as Mr. Sergei Yakevlov, Chief Designer and COO of the Yakevlov Aircraft Company, and Mr. James Hollister, President and CEO. Both distinguished visitors served on the Executive Panel and spoke about the strategic partnership between Platforms and the Russian Commonwealth Aerospace Technology Consortium. ''The Technology Symposium included business and technical briefings on the Airborne Relay Communications (''ARC'') System and the ORBNET TU-160 High Altitude Air Launch (''HAAL - 2000'') Program, including time-to-market projections, competitive market positions, and relevant financial information. ''The final segment of our Conference consisted of a series of announcements on the significant accomplishments of each of our operating divisions, as follows.'' PICTEL: NEWS BLACKOUT -- U.S., Brazil, and Scandinavia material business transactions in process of finalization. Strict Nondisclosure and "Quiet Period" agreements prohibit disclosure or comments on the transactions ongoing in this division at this time. Mutual announcements and press releases are forthcoming, and shall be issued as soon as agreements are concluded. ORBNET: -- Finalized Strategic Partnership Agreement with Russian Commonwealth Aerospace Technology Consortium. On March 3, 1999, received Decree from Government of the Ukraine authorizing the sale of three (3) TU-160 Blackhawk supersonic bombers (demilitarized), plus spare parts, to Platforms International Corporation. The three planes and spare parts, valued at USD$350 to $600 million are being sold to Platforms for twenty million (USD$20,000,000), plus a twenty (20%) percent revenue participation interest in Orbital Network Services Corporation ("OrbNet"). The three TU-160 Blackhawks shall be used as the most powerful and cost-effective reusable satellite launch vehicles on the market today, as well as the asset base that will secure the financing required to fund the "HAAL-2000" Program. Discussions are currently under way with CPAs to determine proper treatment and disclosure of asset acquisitions on Platforms financial statements. - FLIGHT DYNAMICS CORPORATION: -- Currently Finalizing Section 506, $5 Million Offering For Flight Dynamics, Corporation. OFFERING TARGET DATE: MARCH 15, 1999 -- Currently finalizing contract terms and conditions for corporate acquisition of Composites Unlimited, Inc. ACQUISITION FINALIZATION TARGET DATE: MARCH 22, 1999 ''Thank you for your support. We will keep you apprised of the dynamic developments ongoing at our company through forthcoming press releases.'' NOTE: If you wish to obtain a Platforms Press Kit and/or a videotaped transcript of the 1999 Symposium and Press Conference, the videocassette will be available in approximately two weeks. You may place your orders through our Investor Relations Department at: (818) 981-9031. -------------------------------------------------------------- Check out the graph:tscn.com