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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: CMon who wrote (2133)	6/28/1999 3:50:00 PM
From: StormRider	Read Replies (1) \| Respond to of 2693

Seven Seas Communications Cuts Iridium Equipment Prices Monday June 28, 2:00 pm Eastern Time Company Press Release FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--June 28, 1999--In support of Iridium's announcement of changing market strategies and lowering prices for satellite telephones, Seven Seas Communications is cutting equipment costs to its customers dramatically effective immediately. Iridium's announcement yesterday paves the way for Seven Seas to increase support levels for its targeted markets and to pass substantial savings along to its customers. ''Seven Seas is extremely excited about the new direction that Iridium is taking,'' says Paul Adkins, general manager for Seven Seas Communications. ''It is encouraging to see Iridium attacking its problems head-on.'' Headquartered in Ft. Lauderdale, Florida, Seven Seas Communications is a premier provider of satellite communications to the marine, oil and gas, government, mining and construction industries worldwide. Recent office expansions in industry centers such as Houston, Anchorage, Seattle and Washington, DC, combined with an established dealer network throughout the world attest to Seven Seas' dedication to serving the needs of customers in these industries. Seven Seas provides a full suite of satellite services and equipment including Iridium, Inmarsat A, B, M, Mini M, and Oceancell (AMSC). Seven Seas reports a positive response from the initial service price reductions announced in late May. With the dramatic reductions in equipment pricing announced yesterday, Iridium establishes a price point that has never been seen before in global mobile satellite communications. ''While Inmarsat and Oceancell services will continue to be an important part of overall product mix, we expect Iridium to play an increasingly important role,'' says Adkins. ''We are committed to providing the best and most cost effective service and equipment to our customers. Iridium is now positioned to be successful.'' For additional information about Seven Seas Communications please visit the website at www.sevenseascom.com, call 1-800-566-9600 or contact Patti Aston, Director, Marketing Communications, phone: 301/987-2213, e-mail: paston@sevenseascom.com. Iridium North America is the sole owner and operator of Iridium services in North America. Iridium North America is headquartered in Tempe, Arizona and services the United States, Canada, Bermuda and Puerto Rico. Iridium North America is backed by industry leaders at the forefront in integrating communication services: Motorola, Inc., Sprint Corporation and Iridium Canada, Inc. For additional information, please visit the web site at (http://www.Iridium.com) or call 1-888-Iridium. Iridium World Communications (NASDAQ:IRID - news) is the public investment vehicle of Iridium LLC. -------------------------------------------------------------------------------- Contact: Seven Seas Communications Patti Aston, 301/987-2213 or 800/566-9600 e-mail: paston@sevenseascom.com website: www.sevenseascom.com or Iridium World Communications, 1-888-Iridium website: iridium.com