financing that is earmarked for working capital and the purchase of equipment.

The company is currently reviewing bids from four equipment manufacturers including AT&T, Motorola, Phoenix Wireless and Northern Telecom, for the design and installation of a wireless network for the Island.

Next month a decision on which equipment to deploy is expected. Technical specifications on the selected network will then be submitted to the Department of Telecommunications as part of the ongoing process to make the company operational.

The company must also complete inter-connectivity agreements with the Bermuda Telephone Company Ltd. and Cable & Wireless Plc and finalise cell sites.

The company has not yet decided when to launch a planned $3 million to $5 million IPO, and will have to wait for Government regulations, which have still not yet been finalised, before finalising details.

One of four companies newly-licensed to provide telecommunications services under a new Government telecommunications policy, it will provide digital cellular communications using a technology referred to as Code Division Multiple.

Available within a year, the service is to be clear, secure wireless communications using the latest developments in wireless technology, including pocket size telephones.

Chairman and CEO, Mr. Kurt Eve, has also confirmed the appointment of Mr.

Michael Leverock as chief operating officer, responsible for the daily operations of the company.

Mr. Leverock was the founder of Global Access Bermuda, one of the first applicants for a telecommunications licence in the recent review. The application was not approved.

Mr. Kurt Eve (left) and Mr. Michael Leverock