Countrywide Home Loans Selects Gilat's Spacenet Subsidiary to Provide a Satellite-Based Interactive Distance Learning Network.MCLEAN, Va.--(BUSINESS WIRE)--Aug. 12, 1999-- Spacenet's VSAT (Very Small Aperture satellite Terminal) A small earth station for satellite transmission that handles up to 56 Kbits/sec of digital transmission. VSATs that handle the T1 data rate (up to 1.544 Mbits/sec) are called "TSATs. satellite network to offer interactive training to more than 500 Countrywide offices nationwide Gilat Satellite Networks Gilat Satellite Networks is a publicly-traded Israeli company (NASDAQ: GILT. TASE) Gilat designs, develops and markets satellite and hybrid networking products, services and solutions to operators in 85 countries. Ltd. (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 : GILTF) today announced its Spacenet Inc. subsidiary has been selected by Countrywide Home Loans, Inc. to provide a Very Small Aperture Terminal (communications) Very Small Aperture Terminal - (VSAT) A kind of ground station used to contact a communications satellite such as INMARSAT. (VSAT) satellite communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. and an advanced software-based interactive distance learning system to more than 500 Countrywide offices nationwide. The system will enable Countrywide to provide software training to its nationwide field organization. Countrywide is the nation's largest independent residential mortgage lender. The Spacenet solution integrates Gilat's Skystar Advantage(R) VSAT network with specialized interactive distance learning software to enable Countrywide to rapidly and cost-effectively train its associates on new software applications and other aspects of business and operations. The system is also expected to be used in the future to support other types of corporate communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. . The training software, TrainNet Pro(TM), is a product of Gilat Communications Ltd. (NASDAQ: GICOF), a company related to Gilat. TrainNet Pro is a PC-based training system that enables highly effective interactive training to take place between a central instructor and a geographically dispersed group of students. The system combines live video with interactive voice, email, and online testing capabilities, effectively replicating the classroom environment for the distributed participants. Of particular significance in the Countrywide application is the system's ability to support "application projection." With this capability, the instructor can "project" PC screens of the particular software application being taught via IP multicast A one-to-many transmission of data over an IP network. It is used for a myriad of purposes including updating routers, announcing and discovering services and streaming media. IP multicast saves network bandwidth, because packets are transmitted as one stream over the backbone and only directly to each remote student. Each student sees, in real time, the PC screen precisely as it is seen by the instructor. Each field entry or mouse click is seen by the student, thus enabling the instructor to provide highly effective training to the entire distributed audience on what may be a complex software application. The Skystar Advantage VSAT network economically delivers training and multicast applications directly to the desktop. The network's two-way capability enables dramatic improvement in student/instructor interaction. The Countrywide network is the 10th U.S. contract awarded to Spacenet this year. "Until now, we have deployed traditional methods requiring employees to travel to central locations for critical sales training and introduction of new sales force productivity software. Our analysis shows that using VSATs to bring these functions to the desktop is expected to reduce our hourly, per-person corporate training costs significantly," said Michael Spalter, Countrywide's Senior Vice President, Enterprise Network Services. In addition to reducing training-related travel time and expenses, the new VSAT network is expected to enable Countrywide to leverage skilled instructors, increase productivity, and deliver timely corporate communications through the use of business TV programming. "We believe there is a strong trend in the enterprise marketplace for distance learning applications. Spacenet's integrated solution provides corporate training organizations with the technology and services to easily adopt this effective corporate training tool," said Shelly Revkin, Spacenet President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . About Countrywide Founded in 1969, Countrywide Home Loans is celebrating its 30th anniversary this year. A member of the S&P 500, Countrywide is the nation's leading independent residential mortgage lender and servicer. Headquartered in Calabasas, Calif., the company has more than 550 offices and over 11,000 employees nationwide. About Spacenet With headquarters in McLean, Virginia McLean is an unincorporated community located in Fairfax County in Northern Virginia. A small geographic area along Chain Bridge Road in Arlington County has a 22101 zip code and is also part of McLean. , Spacenet Inc. is a wholly-owned subsidiary of Gilat Satellite Networks Ltd. of Petah Tikva, Israel. Spacenet provides a wide range of satellite communications networks and services to companies throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . With the acquisition of Spacenet from GE Americom in December 1998, Gilat now offers a complete range of network services, including access to satellite transponder A receiver/transmitter on a communications satellite. It receives a microwave signal from earth (uplink), amplifies it and retransmits it back to earth at a different frequency (downlink). A satellite has several transponders. capacity, installation of network equipment, network monitoring The term network monitoring describes the use of a system that constantly monitors a computer network for slow or failing systems and that notifies the network administrator in case of outages via email, pager or other alarms. and control, as well as maintenance and repair. About Gilat Satellite Networks Gilat Satellite Networks Ltd. with its global subsidiaries, Spacenet Inc., Spacenet Services Europe GmbH, and Gilat Florida Inc. is a leader in VSAT (Very Small Aperture Terminal) technology, manufacturing and service. The Company provides satellite-based, end-to-end enterprise networking and rural telephony solutions to customers across six continents, and currently markets nationwide interactive broadband data services for U.S.-based corporations and service providers. Skystar Advantage(R), Clearlink(R), ISAT ISAT Illinois Standards Achievement Test ISAT International Subarachnoid Aneurysm Trial ISAT Information Science and Technology ISAT Information and Advisory Service on Appropriate Technology ISAT Illinois State Assessment Test (R), OneWay(TM), TwoWay(TM)-Ready Receiver, SkyWay sky·way n. 1. A route regularly used by airplanes; an air lane. 2. An elevated highway. Noun 1. skyway - a designated route followed by airplanes in flying from one airport to another (TM), DialAway(R), FaraWay(TM), SkySurfer(TM) and SkyBlaster(TM) are trademarks or registered trademarks of Gilat Satellite Networks Ltd. or its subsidiaries. TrainNet Pro(TM) is an Israeli trademark of Gilat Communications Ltd. Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission. Web users can visit Spacenet at www.spacenet.com and Gilat at www.gilat.com. |
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