FCC ROUNDTABLE ON 
          THE ECONOMICS OF MERGERS BETWEEN LARGE ILECS
                    Friday, February 5, 1999
                  The Commission Meeting Room
       The Portals II, 445 12th St. S.W., Washington, DC
                                
                    ROUNDTABLE PARTICIPANTS
                                
Moderator:     William Rogerson, Chief Economist, FCC
               Panelists:     Dennis Carlton, University of Chicago 
          Robert Crandall, Brookings Institution
          Joseph Farrell, UC Berkeley
          Robert Gertner, University of Chicago
          Richard Gilbert, UC Berkeley
          Michael Katz, UC Berkeley
          Robert Litan, Brookings Institution
          Roger Noll, Stanford University
          William Sheperd, University of Massachusetts

                             AGENDA
                                
9:00 - 9:15              Welcome

9:15 - 10:00             Session 1      Potential Benefits of the Mergers

          5 minutes of opening remarks by Dennis Carlton, Robert Gertner and Roger Noll 
     
                              10:00 - 10:45       Session 2       Effects on Benchmarking/Diversity

     5 minutes of opening remarks by Joseph Farrell, Robert Crandall, and Dennis Carlton

10:45 - 11:00       Break

                                   11:00 - 11:45       Session 3      Effects on Actual and Potential Competition

     5 minutes of opening remarks by Robert Litan, William Sheperd, and Richard Gilbert

                                   11:45 - 12:30       Session 4      Effects on Ability and Incentive of ILECs to
                                   Raise Rivals' Costs

     5 minutes of opening remarks by Michael Katz and Dennis Carlton

12:30 - 12:45       Session 5      Conclusions and Final Remarks