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| CIRI Remains Active in Telecommunications | |
| CIRI has formed two new joint ventures with VoiceStream Wireless Corp. after exchanging its interests in prior ventures with VoiceStream Wireless for stock. These two new investments were formed to take advantage of continuing opportunities in wireless telephony, specifically in the developing personal communications services (PCS) industry. | |
| Cook Inlet/VS GSM IV PCS LLC (CIVS IV) was formed to acquire PCS licenses and systems in the private marketplace across the United States. To date, CIVS IV has purchased licenses in Philadelphia, Las Vegas, New Orleans, Omaha, and in smaller markets in Texas and Virginia. These markets will be operated using the globally dominant GSM standard. New Orleans, in particular, was a critical license as it represented one of the last major markets lacking a GSM provider. CIVS IV intends to complete construction of PCS systems in most of its license areas in 2001. The company also has a number of additional transactions underway to acquire other PCS licenses and is actively seeking additional opportunities. |  |
| Cook Inlet/VS GSM V PCS LLC (CIVS V) was formed to acquire PCS licenses in the Federal Communications Commission's (FCC) Auction 35. CIVS V participated in the bidding, which began Dec. 12, 2000, and ended Jan. 26, 2001, after 101 rounds of bidding.
CIVS V was the high bidder on 22 PCS licenses to provide service to more than 17.5 million people (Pops) in various markets including Seattle, San Diego, Baltimore, Indianapolis and North Carolina. CIVS V expects to initiate construction activity on new PCS systems in 2001, once the licenses are granted by the FCC. |
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