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Is it be safe to apply for H1-B Visa and L1-B extension parallelly?

Edison, NJ |

Hi, My L1-B I-94 is expiring in Oct-2013 and my company is planning to file my I-94 extension before its expiry. Due to low approval rate of L1-B ext, I am planning to apply for H1-B as well. I want to know what would be my status if both gets approved. Do I have a choice to work on either L1 or H1 ??

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