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Technology Stocks : IRID - Iridium World Communications IPO Announced!

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To: dumbmoney who wrote (2592)3/18/2000 7:50:00 PM
From: dumbmoney  Read Replies (1) of 2693
 
URGENT NOTIFICATION

motorola.com

URGENT NOTIFICATION ? URGENT NOTIFICATION ? URGENT NOTIFICATION

March 18, 2000



Dear Valued Motorola Customer:

On March 17, 2000, Iridium LLC notified the U.S. Bankruptcy Court that it had not been able to attract a qualified buyer by the court?s deadline.

Iridium LLC announced that it was terminating commercial service after 11:59 p.m. (EST-USA) March 17, 2000, and that it was beginning the process of liquidating its assets.

Motorola will continue to maintain the Iridium satellite constellation for a limited period of time, while the deorbiting plan is being finalized. During this period, we will attempt to continue limited service for subscribers in remote locations who may not have alternative communications. However, the continued availability of Iridium service for these remote customers during this time will depend on whether the other independently-owned and operated gateway companies remain open. We understand that Iridium North America ("INA") has decided to stay open on a limited basis, as will the Motorola-owned Service Providers, MCSI and MWINS. Motorola is urging other gateways to do the same.

We urge you to share this information with anyone within your organization who uses Iridium service.

Throughout its history, Motorola has been a company that strives to pioneer new technologies and the markets they create. Iridium is an example of a proven, pioneering technology. Many of our finest people worked together, worldwide to implement a global communications system that was, from a technology standpoint, an extraordinary achievement. Going forward, Motorola will continue to look for new opportunities that will provide a path to the future. Motorola and other Iridium investors worked very hard to support Iridium LLC?s efforts to reorganize and continue operating the business. Unfortunately, that did not happen. However, we continue to believe that satellite technology will ultimately open a new chapter in the history of communications.
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