EXHIBIT 12
Ratio of Earnings to Fixed Charges:
Three Months Ended Nine Months Ended
September 30, September 30,
----------------- ------------------
1999 2000 1999 2000
------- -------- -------- --------
(in thousands)
Net loss................................. $(6,256) $(12,445) $(22,922) $(20,057)
Add fixed charges:
Interest expense including
amortization of debt issuance cost.. 3,962 4,128 11,058 12,246
------- -------- -------- --------
Loss..................................... $(2,294) $ (8,317) $(11,864) $ (7,811)
------- -------- -------- --------
Fixed Charges
Interest expense including amortization
of debt............................... $ 3,962 $ 4,128 $ 11,058 $ 12,246
Capitalized interest................... 258 -- 1,858 --
------- -------- -------- --------
Total Fixed Charges...................... $ 4,220 $ 4,128 $ 12,916 $ 12,246
------- -------- -------- --------
Ratio of Earnings to Fixed Charges....... -- -- -- --
Deficiency of Earnings to Cover Fixed
Charges................................. $ 6,514 $ 12,445 $ 24,780 $ 20,057