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February 02, 2001

* Loral Space & Communications Ltd. is abandoning its plan to offer high-speed Internet service to consumers, Chief Executive Bernard Schwartz said. Loral will stick with its main businesses, which include making satellites and leasing satellite communications capacity to corporate customers, Schwartz said at the Carmel Group's DBS 2001 conference in Los Angeles. Loral will act as a supplier of Internet and other broadband services to its customers rather than sell directly to consumers. Loral owns 38% of Globalstar Telecommunications Ltd.

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