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Technology Stocks : MTNT: Motient Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Dave Swanson who wrote (52)	2/7/2002 9:26:19 AM
From: Dorine Essey	Respond to of 55

New Wireless Platform Pushes the Boundaries of Enterprise Application Development; Developers Get Access to Wireless Push to PDAs for the First Time February 07, 2002 07:00:00 AM ET SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 7, 2002--Yambay Technologies Pty. Ltd., the Asia Pacific region's largest dedicated supplier of software products for handheld computing devices, together with Motient Corp. MTNTQ, owner and operator of the nation's largest wireless data network, today launched Yambay's MACH(TM)(1) Wireless Platform (Enterprise Edition) on the Motient(TM) network. The product offers a compelling set of features which enables developers to meet the needs of enterprise customers, including wireless push with acknowledged delivery, 128 bit security and behind-the-firewall deployment. Initially launched for the Palm OS, the MACH(TM) Wireless Platform supports most popular application development tools through simple, open-standard APIs. The product is aimed at system integrators and developers looking to extend the functionality of applications beyond the limitations of the browser without needing to become experts in the underlying wireless network or to get trained up on new development tools. Wireless push with acknowledged delivery can be used by the developer to manage server initiated delivery of data to the PDA even when the device is switched off. Using this technology a user may receive emails, instant messages and job dispatch notices, for example, seamlessly to three independent applications. One of the significant advantages over technologies like SMS is that the server receives a delivery acknowledgement from the device without user intervention thereby facilitating enterprise-grade reliability. "Our experience with enterprise wireless solutions suggests that successful products require an intuitive, zero-frustration, interface that works both in and out of wireless coverage. The acknowledged push feature, in particular, is key to achieving the business process changes which justify the investment by the enterprise," said Leon Levit, CEO of Yambay. "In the MACH Wireless Platform, we believe we have achieved our primary objective in the development of a highly scalable and robust wireless gateway, which doesn't tie the enterprise into costly, proprietary technologies." "We are pleased to be the network provider for Yambay's new MACH Wireless Platform," said Dan Croft, vice president of wireless Internet services for Motient. "Our network extends Yambay's solution to millions of people across the country. Together, our offerings provide developers with a new level of wireless software innovation."

To: Dave Swanson who wrote (52)	3/11/2002 9:22:19 AM
From: Dorine Essey	Read Replies (1) \| Respond to of 55

Motient Completes Next Step in Reorganization Plan March 11, 2002 08:45:00 AM ET Court Approves Motient's Disclosure Statement Detailing the Plan to Eliminate $335 Million in Bondholder Debt RESTON, Va., March 11 /PRNewswire-FirstCall/ -- On March 1, 2002, Motient took another important step forward in completing its financial restructuring. The U.S. Bankruptcy Court for the Eastern District of Virginia has approved Motient's (OTC Bulletin Board: MTNTQ) Disclosure Statement describing its Amended Joint Plan of Reorganization (the Plan). Motient Corporation, the owner and operator of the nation's largest wireless data network, anticipates that it will complete its pre-negotiated restructuring and exit Chapter 11 soon after April 25, 2002, the scheduled date of the court confirmation hearing to approve the Plan. Motient remains on its previously announced schedule to complete its restructuring initiative during the Spring of 2002. It has filed a Current Report on Form 8-K with the SEC containing its Disclosure Statement and Plan of Reorganization, which can be obtained from the SEC web site. The restructuring Plan will complete the pre-negotiated bondholder agreement to eliminate $335 million in bondholder debt and an associated $40 million in annual interest payments. Under the terms of the Plan, bondholders will convert Motient's senior notes to equity in the company. "Our anticipated quick exit from bankruptcy and the elimination of 100 percent of our bondholder debt, positions Motient for long-term financial viability and success, and we are looking toward profitability," said Walter Purnell, CEO of Motient. "Throughout our restructuring we have focused on growing our business through the expansion of our network and introduction of new products, while continuing our commitment and service to our customer base of more than 270,000 subscribers." On or about March 7, 2002, all classes entitled to vote, were sent ballots with Motient's Disclosure Statement which includes the Plan as an exhibit. The deadline for voting on the Plan is April 16, 2002, and the Confirmation Hearing is scheduled for April 25, 2002.