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Oracle, Philippine Phone Company Sign Pact

May 16, 1997|(Associated Press)

Philippine President Fidel Ramos visited Silicon Valley to praise a high-tech alliance he hopes will catapult his nation into the 21st century. Ramos watched as the heads of Oracle Corp. and Philippine Long Distance Telephone Co. signed a preliminary agreement to build a telecommunications and computer network. The project, called Phil-Net, initially will put Oracle's low-cost network computers on college students' desks, giving them access to the Internet and satellite educational programs. "We must access the smartest technology so that the next generation of Filipinos will have the skills they need to compete in the global economy," Ramos said. The deal is a boost for the Redwood Shores-based network computer, a simplified version of the personal computer that Oracle Chairman Larry Ellison has vigorously promoted for more than a year. Oracle shares rose $1.625 to close at $45.95 on Nasdaq.

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