CAI CLARIFIES TELQUEST POSITION.ALBANY, N.Y.--(BUSINESS WIRE)--March 27, 1996--CAI Wireless Systems, Inc. ("CAI (1) (Computer-Assisted Instruction) Same as CBT. (2) See CA. CAI - Computer-Aided Instruction ") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: CAWS) today announced that the Company has received inquiries concerning its interest in TelQuest Ventures, L.L.C. TelQuest Ventures, L.L.C. has applied to the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. for permission to up-link direct broadcast satellite (DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. ) services using the Canadian DBS frequencies at the full- CONUS 91-degree west orbital slot, through an agreement it has with Telesat Canada. CAI has no direct interest in TelQuest or in its operations. CAI does have an option to acquire a 15% interest in TelQuest Ventures, L.L.C. for an undetermined price. Jared E. Abbruzzese, Chairman and Chief Executive Officer of CAI, owns through affiliates a controlling interest in TelQuest Ventures, L.L.C. and currently serves as its Chairman. No other present CAI officer is involved in TelQuest Ventures, L.L.C. Any inquiries about CAI should be directed to its Chief Financial Officer, James P. Ashman, at 518/462-2632. Inquiries about TelQuest Ventures, L.L.C. should be directed to its Chief Financial Officer, William W. Sprague, at 212/333-8689. CAI currently operates six wireless cable systems in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Rochester and Albany, NY, Philadelphia, PA, Washington, DC, and Norfolk/Virginia Beach, VA. In addition, CAI has a portfolio of wireless cable channel rights in eight additional markets, including Long Island, Buffalo and Syracuse, NY, Boston, MA, Providence, RI, Hartford, CT, Baltimore, MD, and Pittsburgh, PA. CONTACT: Company Contacts: Jared Abbruzzese CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , CAI Wireless Systems, Inc. 518/462-2632 or Investor Relations Contact: Jason Thompson Lippert/Heilshorn & Associates 212/838-3777 |
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