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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (6842)	8/25/1999 7:12:00 PM
From: djane	Respond to of 29987

Text of I* ad in the WSJ Top>Business & Finance>Investments>Sectors>Services>Communications Services>IRIDQ (iridq) Timber_dc, the WSJ text by: Go_Iridium (88/M/Rio Rancho, NM) 30300 of 30303 Rob, Below is the text of the Wall Street Journal by Richardson, IRIDQ's CEO, as best as I can type. Go_Iridium To Iridium Customers, Partners and Investors Worldwide: Iridium has enjoyed significant achievements as the pioneer in handhold satellite communications. Our network of 66 satellites has made remote communications a reality, and the network is working better than ever. Trailblazers, however, face unique challenges, and we have made some mistakes in launching our service. We recognize our missteps and are working diligently to correct them. Our single most important goal is to provide world class Service to Our Customers. To meet our goal, we must get our financial house in order. Iridium LLC recently filed for Chapter 11 reorganization in an effort to conclude a comprehensive financial restructuring under an orderly court-supervised process. Chapter 11 is devised under U.S. law to allow companies to financially reorganize so that they may be successful in the long run, and we are in productive discussion with our major shareholders to bring this process to a speedy conclusion. I want to assure our customers, investors and partners worldwide that Iridium will continue to provide its pioneering, high-quality global telecommunications service without interruption. We are still in business, and it is business as usual. While our financial issues have dominated the headlines, the real news at Iridium has been the changes we have made on the operational side. We have new senior management in place and a new marketing focus, including reduced and simplified service and equipment pricing. We are responding to the evolving needs of the Marketplace. We have introduced new, specialized products and accessories targeted at specific industries such as maritime, aeronautical and remote operators. These efforts are showing results. Our largest investors-including Motorola and Nippon Iridium Corporation fully support our efforts to restructure, remain committed to our success and join us in the expectation that a reorganization plan can be achieved in the very near term. We are confident that we will soon put our financial restructuring behind us so that we can focus on the most important aspect of our business: providing a reliable means of communication, even in the most remote regions of the world. Our customers range from pilots in Alaska to pipeline workers in Brazil; from ranchers in Australia to fishermen in Russia even explorers at the Poles. Our customers have used the Iridium service in all climates, and Iridium is now an essential tool of their trade. I want to thank these customers for their faith in our service. We know that we will continue to see growing numbers of people who will trust Iridium to keep them in touch no matter where their next assignment takes them.