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

To: Anthony@Pacific who wrote (2320)	8/11/1999 7:14:00 PM
From: Anthony@Pacific	Respond to of 2693

Pacific Equity Investigations 2611 South Highway 101 Suite 100 Cardiff by the Sea, California 760-635-5900 August 11, 1999 To All Business Editors, For Immediate Release SANDIEGO, CALIFORNIA PACIFIC EQUITY INVESTIGATIONS Initiates coverage on IRIDIUM World Comm, INC Class A Shares, We rate Iridium Shares an Immediate SELL! Pacific Equity Investigations lead corporate and equity analyst Anthony Elgindy initiates coverage on Ticker, ( Nasdaq: IRID ) Pacific Investigation has independently verified and determined That Common Shareholders of Iridium cannot recover any of their Investment in the Common Shares Class A of Iridium World Comm. By Defaulting on Its debt earlier Today, Iridium has Breached all covenants of its Debt Obligations. Senior Bond Holders will NOT Likely agree to further concessions and Will Hold Motorala responsible for all guaranteed payments and obligations. However these Guarantees will fall woefully short of Keeping Iridium afloat. Pacific Equity has Independantly determined that This battle between IRIDIUM and its senior debt holders will most likely be resolved in Bankruptcy Court, barring a last minute Restructuring agreement. Regardless,, It is critical that holders of the common shares, realize that regardless of what the outcome is of these "alleged" continuing talks, The common shares will have almost no value whatsoever. The Common Shares are last on a long list following all of The Creditors of Iridium. "We absolutely believe that there is no solution except Bankruptcy, and no hope for the common shares, The only reason the stock isnt trading at a few pennies, is simply because The vast majority of the public isnt informed and Iridium has intentionally Ommited to adress the Common stock. The stock is worthless and both Motorola and Iridium know it." said Chief analyst and corporate Investigator, Anthony Elgindy. In the event of a Bankruptcy, shareholders will infact find their shares at or near a zero valuation.. Pacific Investigations is a California based Equity and research company that specializes in INDEPENDENT VERIFICATION of Market Valuations. For additional Info please visit us at: anthonypacific.com For Additional Info Contact: Matt Tyson, Esquire