November 29, 1994 FCC ANNOUNCES THE RECEIPT OF DOWNPAYMENTS FROM THE HIGH BIDDERS IN THE AUCTION OF 30 REGIONAL NARROWBAND PCS LICENSES Federal Communications Commission ("FCC") announces receipt of downpayments totaling $57,192,316 from the winning bidders in the auction of 30 Regional Narrowband Personal Communications Service (PCS) licenses. These payments were received on Wednesday, November 16, 1994. The regional narrowband PCS auction closed on Tuesday, November 8, 1994 after nine days and 105 rounds of active bidding. The FCC raised $490,901,787 in gross revenues for the Treasury, including a bid withdrawal penalty of $2,128,987 assessed against PAGEMART II, INC. Within five (5) business days following the close of the auction all of the winning bidders submitted the downpayments to the Commission's lockbox bank. The additional funds are required to supplement the bidders' upfront payment to bring their total deposit to twenty (20) percent of the winning bid amounts. Winning bidders who are qualified designated entities eligible for installment payments are only required to bring their total deposits to ten (10) percent of their winning bids. Such designated entities must pay the remaining ten (10) percent within five (5) business days after grant of the license. (over) HIGH DOWN- WINNING BIDDERBID AMOUNT PAYMENT AMOUNT ADELPHIA COMMUNICATIONS $ 52,940,007.00 $ 2,671,283.42 (changed from LISA-GAYE SHEARING, INC.) (Net high bid amount less 40% bidding credit) $ 31,764,004.20 ADVANCED WIRELESS $ 53,621,666.00 $ 9,398,401.20 MESSAGING, INC. AIRTOUCH PAGING $ 31,218,001.00 $ 5,233,367.00 AMERITECH MOBILE $ 9,500,000.00 $ 1,795,821.00 SERVICES, INC. BENBOW P.C.S. VENTURES, INC. $ 35,681,000.00 $ 1,635,743.00 (Net high bid amount less 40% bidding credit) $ 21,408,600.00 INSTA-CHECK SYSTEMS, INC. $ 8,000,013.00 $ 591,643.30 MOBILEMEDIA PCS, INC.$ 53,669,092.00 $ 9,407,886.00 PAGEMART II, INC. $ 92,599,020.00 $ 18,375,765.00 (bid withdrawal penalty) $ 2,128,987.00 PCS DEVELOPMENT CORPORATION $ 151,544,001.00 $ 8,082,406.06 (Net high bid amount less 40% bidding credit) $ 90,926,400.60 For additional information, please contact Audrey Spivack of the FCC's Office of Public Affairs at (202) 418-0500 and Jackie Chorney of the FCC's Office of Bureau Chief at (202) 632-6940. -FCC-