  We compute the exact string vacuum backgrounds corresponding to the
non-compact coset theory $SU(2,1)/SU(2)$. The conformal field theory defined by
the level $k= 4$ results in a five dimensional singular solution that
factorizes in an asymptotic region as the linear dilaton solution and a $S^3$
model. It presents two abelian compact isometries that allow to reinterpreting
it from a four dimensional point of view as a stationary and magnetically
charged space-time resembling in some aspects the Kerr-Newman solution of
general relativity. The $k=\frac{13}{7}$ theory on the other hand describes a
cosmological solution that interpolates between a singular phase at short times
and a $S^1 \times S^2$ universe after some planckian times.
