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To: Eric L who wrote (12600)	6/19/2000 11:42:00 AM
From: foundation	Respond to of 13582

NEW YORK--(BUSINESS WIRE)--June 19, 2000--Globalstar (NASDAQ:GSTRF - news) today issued the following statement to clarify its future funding requirements. ``Globalstar has been consistently open and candid with the investment community regarding its funding requirements,'' said Bernard L. Schwartz, chairman and chief executive officer of Globalstar. ``We have previously reported that Globalstar has sufficient funds on hand to continue the deployment of the Globalstar system and that we will most probably require additional funding in the September/October timeframe. At that time we expect to be in a more favorable position due to stronger evidence of deployment progress. ``We are confident in our ability to raise funding as required to meet Globalstar's needs and at the appropriate time will consider several options available to us including support from our partners. Globalstar, with substantial participation from its partners, has raised $4 billion for system development and deployment. They are aware of our funding requirements and have indicated intentions to support the project to its successful conclusion. We see no need to accelerate our timetable, and thus, to date, no plan has been submitted to our partners or to anyone else. Reports that requests for additional funding have been made and rejected are inaccurate,'' Mr. Schwartz concluded. The company has previously stated that, without giving effect to any revenue and assuming that a $250 million bank credit is allowed to expire at the end of June 2000, Globalstar will need a maximum of $160 million by year-end 2000, an amount which will be offset by revenues received to that point. The company, which reports minutes of use and revenue on a quarterly basis, noted that while the roll-out of service has been slower than expected, recent activity continues to provide positive evidence of a steady build-up. Usage continues to increase weekly and service providers remain confident that Globalstar will succeed in penetrating its selected markets. Within the past few weeks: Commercial service was introduced in China and the United Kingdom; also Globalstar Saudi Arabia began the soft launch of its service, bringing Globalstar service to a very high-potential market where over 90% of the country has no cellular coverage. In Russia, another very large market, the first gateway is in operation with full commercial service to begin within the next few weeks.

To: Eric L who wrote (12600)	6/19/2000 11:52:00 AM
From: Ruffian	Respond to of 13582

Brazil Anatel To Announce Wednesday Chosen PCS Frequency Dow Jones Newswires SAO PAULO -- Brazilian communications regulator Anatel will announce Wednesday the frequency selected for the Personal Communications Services licenses to be auctioned this year, the agency said in a press release late Friday. The agency has been deliberating the choice for more than a year and has been the subject of intense lobbying from two rival camps. On one side are proponents of the 1,800 megahertz frequency, which is only suited for the Global System for Mobility, or GSM technology. The other frequency, 1,900 megahertz, is defended by vendors and carriers using Code Division Multiple Access, or CDMA technology, although it also works with GSM. Critics of the 1,900 mhz option object to using up the limited radio spectrum before the arrival of third- generation communications technology, which will demand great spectrum capacity. GSM equipment manufacturers also see the regulator's choice as their chance to introduce the technology in Latin America, where they are conspicuously absent. -By Margarita Palatnik, Dow Jones Newswires; (5511) 813-1988; mpalatnik@aol.com