NEWS July 22, 1997 JON GARCIA TO LEAD PCS FINANCING ISSUES TASK FORCE Jon Garcia of the Commission's Office of Plans and Policy will lead a Task Force on Personal Communications Services (PCS) C and F Block Financing Issues. The Task Force, which also includes representatives from the Commission's Wireless Telecommunications Bureau and Office of General Counsel, will evaluate proposals for alternative financing arrangements submitted by PCS C and F block licensees and recommend to the Commission how to respond to those proposals in an expeditious manner. By Public Notice dated June 2, 1997, the Wireless Telecommunications Bureau, at the request of several licensees, invited interested parties to comment on a number of issues concerning PCS financing terms. In addition to establishing a comment period cycle ending on July 8, 1997, the Bureau held a public forum on June 30, 1997 to discuss the issues of debt restructuring and the current capital markets for financing these licenses. Mr. Garcia, who received his J.D. cum laude from Harvard Law School, holds an M.Sc. (with distinction) from the London School of Economics and an A.B. (honors) from Georgetown University. He was previously a consultant with McKinsey & Company in Washington, D.C. and an attorney with Paul, Weiss, Rifkind, Wharton & Garrison in the firm's Washington, D.C. office. -FCC-