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Burma goes wireless
/* Written 11:23 pm Jun 26, 1994 by tun@xxxxxxxxxxxxxxx in igc:soc.cult.burma */
/* ---------- "Burma goes wireless" ---------- */
Date: Sun, 26 Jun 94 00:18:08 EDT
Subject: Burma goes wireless
InterDigital CEO says financing packages progressing; announces
BurmeseUltraPhone contract; confirms AT&T advance royalty payme GREAT NECK,
N.Y. (JUNE 24) BUSINESS WIRE - June 24, 1994--Dr. Donald L. Schilling,
president and chief executive officer of InterDigital Communications Corp.
(ASE:IDC), stated that, "The recent drop in InterDigital's stock is not
"The company is solid, viable, and continues to pursue valid business
opportunities. While I am disappointed in the delay associated with the
completion of our previously announced financing opportunities, I am
confident that the company will have sufficient financing to meet our
"Our current contracts and projects, such as the B-CDMA cellular overlay, are
proceeding on or ahead of schedule and our near-term contracts are
In addition, Schilling stated, "We have just been awarded a $1,207,763
contract from Myanma Posts and Telecommunications (MPT) in the Union of
Myanmar, formerly Burma, for delivery, installation, service, and training of
UltraPhone and we expect to receive revenues during the next three months."
The system will provide telephony services for rural modernization in Yangon
and Maubin provinces.
Dr. Joseph Garodnick, executive vice president for InterDigital, stated,
"This is the first wireless digital system introduced into Myanmar by the MPT
to improve and expand the country's telephone infrastructure. InterDigital
welcomes the opportunity to participate in this project by providing the
right wireless local access solution."
Schilling added, "In addition to the MPT contract and other wireless digital
product sales, the InterDigital Technology Corporation has already received
the major portion of the royalty advance from the recently signed AT&T
license agreement." -0- UltraPhone is a registered trademark -0- NOTE: Dr.
Donald L. Schilling, president and CEO, will conduct a conference call at
1:30 p.m. EDT, today, Friday, June 24. Those wishing to participate should
CONTACT: InterDigital, King of Prussia
Rob Wiltshire, 610/278-7800
KEYWORD: PENNSYLVANIA DELVAL NEW YORK
INDUSTRY KEYWORD: TELECOMMUNICATIONS COMPUTERS/ELECTRONICS COMED
Z REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
Transmitted: 94-06-24 09:40:19 EDT