cigar-shaped white mettallilc object with four red and green lights positioned beside it - seen in daylight

It was in the afternoon and my friends and I were outside visiting and just enjoying the beautiful day.  One of us noticed a very bright white metallic low in the sky, but above the light poles.  We all just stood and stared at it and tried to make sense of it.  We thought it had to be a weather satellite gathering data.  It was shaped like a cigar and had four small red and green lights, positioned on its "corners," one above and to the left, one above and to the right, one below and to the left, and one below and to the right.  These small lights would take turns darting out for a few seconds and then reposition themselves by the bright white metallic cigar shaped object.  The larger object was metallic, but it looked unlike any metal we had ever seen.  It was so bright.
 We watched as all four of the small colored lights repositioned themselves at the same time beside the cigar shaped object, and then what happened next made us decide it could not be something from the earth.  It shot up and away at a 45 degree angle at an unbelievable speed.  It was there one moment, and then it was gone.
 We saw this in broad daylight, and it is as clear in my mind today as it was that day in the spring of '77.
Source of report indicates that date of the event is approximate.  PD