Excerpt: "Notice of settlement was announced by the law firm representing stockholders who will receive $22.5 million to settle a securities class action lawsuit related to Orbital Sciences' 1999 financial restatements. Under the agreement announced by Orbital in July, stockholders will receive $11 million in cash from National Fire Insurance and 2 million shares of stock discounted 10%, worth $11.5 million. No cash will come from Orbital."

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Editorial Comment/Correction - Revised Settlement summary re:
The Orbital Securities litigation.
Television Digest Report
Oct. 23, 2000
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Note: in our November 9, 2000 securities news summary, we printed a notice of settlement in the Orbital Sciences' case based on a Television Digest report dated Oct. 23, 2000.

Jonathan Plasse, counsel for the lead plaintiffs in the Orbital Securities litigation contacted us and mentioned that the settlement provides for the issuance of warrants, not stock as mentioned in our article (and was originally mentioned in the Television Digest, Oct. 23, 2000 article). Mr. Plasse provided the following information:

Revised Summary: "Notice of settlement was announced by the law firm representing stockholders who will receive $22.5 million to settle a securities class action lawsuit related to Orbital Sciences' 1999 financial restatements. Under the agreement announced by Orbital in July, stockholders will receive $11 million in cash (from Orbital's insurer) and warrants having a value of $11.5 million, which warrants will be exercisable for a period of three years at a price equal to 90% of the average of Orbital's stock price immediately prior to the settlement hearing." No cash will come from Orbital.