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Technology Stocks : Loral Space & Communications

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To: Don Limb who started this subject	7/17/2002 1:50:38 PM
From: eikos	Read Replies (1) of 10852

Incest is best Wednesday July 17, 12:12 pm Eastern Time Globalstar Contracts For Next-Gen Satellite Constellation SAN JOSE -(Dow Jones)- Globalstar Telecommunications Ltd. (GSTRF) awarded Loral Space Systems & Communications Ltd.'s Space Systems/Loral unit a construction contract for a new two-gigahertz satellite system. Financial terms weren't disclosed. The contract calls for a new constellation of 56 low-earth-orbit, or LEO, satellites, supplemented with four geostationary orbit satellites that would provide additional system capacity, particularly for data applications, along with coverage to remote areas not easily served by Globalstar's LEO satellites. In a press release Wednesday, Globalstar said Space Systems/Loral will deliver all 60 satellites to the company on orbit starting in 2006. In July 2001 , the Federal Communications Commission granted Globalstar's 1997 application to use a two-gigahertz mobile satellite radio spectrum. The new contract fulfills the FCC requirement that Globalstar enter a construction contract for new satellites to use this spectrum by July 17, 2002 . Company Web site ssloral.com; globalstar.com

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