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

To: dumbmoney who wrote (2592)	3/18/2000 7:47:00 PM
From: dumbmoney	Respond to of 2693

Iridium LLC Announces End of Service motorola.com March 17, 2000 ? Iridium LLC announced today that it would terminate the provision of commercial service as of 11:59 p.m. EST on Friday, March 17, 2000. The U.S. Bankruptcy Court for the Southern District of New York approved use by the Company of its secured lenders? cash collateral to commence the wind down of its operations and the sale of its assets. Motorola has advised Iridium that it intends to maintain the Iridium satellite system for a limited period of time to allow subscribers in remote locations to obtain alternative communications. "I am deeply saddened by this outcome," said Iridium COO Randy Brouckman. "I particularly regret the impact this will have on our customers. Iridium achieved significant milestones, and I want to thank the more than 160 countries that licensed the service and the distribution partners around the world who helped market Iridium. Finally, I have had the honor and privilege to work with a world class team both here at Iridium LLC and at our Gateway partners around the world and I want thank them for all their hard work." Iridium LLC filed for Chapter 11 bankruptcy protection on August 13, 1999. Iridium LLC became the world?s first global satellite phone and paging company on November 1, 1998. Its network of 66-low earth orbiting satellites combined with existing terrestrial cellular systems enables customers to communicate around the globe. Iridium World Communications, Ltd. (IRIDQ) is the public investment vehicle of Iridium LLC. ### Iridium is a registered trademark and service mark of Iridium IP LLC. Additional media contacts: Robert Beury Iridium LLC

To: dumbmoney who wrote (2592)	3/18/2000 7:50:00 PM
From: dumbmoney	Read Replies (1) \| Respond to 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.