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EXHIBIT 12.1
STATEMENT REGARDING COMPUTATION OF DEFICIENCY
OF EARNINGS TO FIXED CHARGES AND DEFICIENCY OF EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
The Company's deficiency of earnings to fixed charges and deficiency of
earnings to combined fixed and preferred stock dividends were computed as set
forth below.
<TABLE>
<CAPTION>
(In Thousands)
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Six Months Six Months
Ended Ended Year Ended December 31,
June 30, June 30, --------------------------------
2000 1999 1999 1998 1997
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<S> <C> <C> <C> <C> <C>
Interest, including amounts capitalized $16,578 $ 2,814 $ 5,884 $ 3,939 $ 4,151
Amortization of debt discounts,
premiums and capitalized costs 2,376 116 1,051 1,114 0
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Fixed charges $18,954 $ 2,930 $ 6,935 $ 5,053 $ 4,151
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Net loss $50,651 $31,575 $ 66,292 $84,164 $59,328
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Deficiency of earnings to fixed charges $50,651 $31,575 $ 66,292 $84,164 $59,328
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Preferred stock dividends 24,557 0 37,905 0 0
Accretion on preferred stock 1,324 0 329 0 0
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Deficiency of earnings to combined
fixed charges and preferred dividends $76,532 $31,575 $104,526 $84,164 $59,328
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</TABLE>
