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To: Glenn Petersen who wrote (2143)	9/15/2009 1:08:03 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

The management of [t]GHQ[/t] has executed repurchase agreements covering 40.8% of the shares that are eligible to vote at next week's shareholder meeting: GHL Acquisition Corp. Announces Additional Share Repurchase Agreements - 399,300 additional common shares to be repurchased at closing - Total of 16,325,196 common shares now subject to repurchase agreements - Repurchased shares to be voted in favor of Iridium acquisition - No further share repurchase agreements anticipated prior to closing of Iridium acquisition Press Release Source: GHL Acquisition Corp. On Monday September 14, 2009, 7:45 pm EDT NEW YORK, Sept. 14 /PRNewswire-FirstCall/ -- GHL Acquisition Corp. ("GHL Acquisition") (NYX: GHQ, GHQ.U and GHQ.WS) announced today that it has entered into additional agreements with certain holders of its common stock as a result of which an additional 399,300 shares of GHL Acquisition common stock will be repurchased upon closing of its acquisition of Iridium Holdings LLC ("Iridium"). The aggregate number of GHL Acquisition common shares subject to repurchase agreements now totals 16,325,196. The agreements provide that the shares will be repurchased for a price per share equal to the greater of $10.10 per share and the price per share at which GHL Acquisition common stock are sold in a future public offering. The sellers of the shares have also granted GHL Acquisition a proxy over the shares to be repurchased, and GHL Acquisition intends to vote the repurchased shares in favor of the acquisition of Iridium at the special meeting of shareholders scheduled for September 23, 2009. The aggregate number of shares now subject to these agreements represents approximately 40.8% of the 40 million shares of common stock eligible to vote on the acquisition proposal at the special meeting. The repurchases of the shares are subject to the closing of the Iridium acquisition and GHL Acquisition intends to use the proceeds of a future offering of common stock to finance these repurchases. GHL Acquisition does not plan to enter into further share repurchase agreements prior to the closing of its acquisition of Iridium. The special meeting of shareholders of GHL Acquisition to vote on the Iridium acquisition is scheduled for September 23, 2009, and the proxy statement describing the meeting has been mailed to holders of record of GHL Acquisition common stock as of August 27, 2009. Copies of the proxy statement can be obtained from MacKenzie Partners, Inc., by calling 800-322-2885, or from the SEC's website at www.sec.gov. <snip> finance.yahoo.com