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


To: Geoff Goodfellow who wrote (3906)4/15/1999 3:42:00 AM
From: djane  Respond to of 29987
 
Fifth Successful Launch Adds Four More Satellites to Globalstar Constellation

Business Wire - April 15, 1999 03:00

NEW YORK--(BUSINESS WIRE)--April 15, 1999--

Company Maintaining Aggressive Launch Schedule to Ensure Timely

Service Launch

Globalstar (NASDAQ:GSTRF) today announced the successful launch of an additional four low-
earth-orbiting (LEO) satellites into space, bringing the total number of Globalstar satellites that have
been successfully launched to 20. Globalstar's satellites, manufactured by prime contractor Space
Systems/Loral, were launched on April 14, at 8:46 p.m. EDT, aboard a Soyuz-Ikar launch vehicle
from the Baikonur Cosmodrome in Kazakhstan.

All four Globalstar satellites were separated from the upper stage at an altitude of 920 kilometers (571
miles) above the Earth. Engineers at Globalstar's ground control center in San Jose, Calif., acquired the
satellites' signals at 12:29 a.m. EDT, April 15, using the six Globalstar telemetry command unit
gateways located in Aussaguel, France; Yeoju, South Korea; Dubbo, Australia; Bosque Allegre,
Argentina; Delareyville, South Africa; and Clifton, Texas. During the next several weeks, Globalstar
engineering teams will raise the satellites to their operational altitude of 1,414 kilometers (878 miles).

"With this, our third successful launch this year, we remain right on schedule with our plan to initiate
service in the third quarter of 1999, using an initial 32-satellite constellation," said Bernard L. Schwartz,
chairman and chief executive officer of Globalstar. "Launches are scheduled to continue once a month
from now until December when the full Globalstar constellation is complete."

The Globalstar system will provide affordable satellite-based personal communications services to a
broad range of subscribers and users. Globalstar's service will enable people to make and receive
phone calls, short messages, e-mails and other data messages practically anywhere in the world.
Globalstar plans to have at least 32 satellites in orbit in order to start commercial service later this year,
and to have 52 satellites in space by the end of 1999, including four in-orbit spares.

Globalstar, led by founding partner Loral Space & Communications, is a partnership of the world's
leading telecommunications service providers and equipment manufacturers, including Qualcomm
Incorporated, AirTouch Communications, Alcatel, Alenia, China Telecom (HK), DACOM,
Daimler-Benz Aerospace, Elsacom (a Finmeccanica/Elsag Bailey Company), France Telecom,
Hyundai, Space Systems/Loral and Vodafone. For more information, visit Globalstar's web site at
www.globalstar.com

Loral Space & Communications (NYSE:LOR) is a high technology company that primarily
concentrates on satellite manufacturing and satellite-based services, including broadcast transponder
leasing and value-added services, domestic and international corporate data networks, global wireless
telephony, broadband data transmission and content services, Internet services, and international
direct-to-home satellite services. For more information, visit Loral's web site at www.loral.com

CONTACT: Jeanette Clonan
(212) 338-5658




To: Geoff Goodfellow who wrote (3906)4/15/1999 1:50:00 PM
From: Geoff Goodfellow  Read Replies (1) | Respond to of 29987
 
Inmarsat To Kick Off Round Of Satellite Privatizations
By ANTHONY DOVKANTS
Dow Jones Newswires

LONDON -- Inmarsat[ inmarsat.org & via-inmarsat.org ]is about to break free of its bureaucratic shackles and take its first steps as a privatized satellite company.

The business, which was formed by a group of 28 governments in 1979, Thursday will lead a wave of privatization's within the satellite industry when its shareholders meet to elect a board.

The move marks the beginning of a two-year plan to bring Inmarsat to the stock market.

Inmarsat will become the first of three intergovernmental satellite businesses to be privatized.

Intelsat and Eutelsat are expected to follow by 2001.

The London-based mobile satellite communications group is also going private in a bid to raise funds for its $2 billion project Horizon, which is a plan to provide Internet services via satellites.

Since its formation in 1979 under an intergovernmental treaty to provide communications for ships, there have been restrictions on the way Inmarsat's shareholders were allowed to invest in the business.

BT, which has a 9% holding in Inmarsat, would only have ever been able to invest 9% into any given program.

The restructuring of Inmarsat means that companies will be able to take bigger or smaller positions in a project.

The company's sales increased 5.8% to $401 million in 1998 from $378 million and earnings before interest, taxes, depreciation and amortization rose 4.9% to $321 million from $306 million.

As part of the privatization, major shareholders such as British Telecommunications PLC (BTY), Comsat Corp. (CQ) of the U.S., France Telecom (F.FTL) and Telstra (TLS), of Australia, will be able to trade in Inmarsat shares amongst themselves.

BT and other businesses were appointed by their respective governments to run and represent their country's interests at Inmarsat.

Inmarsat, which is behind communications used by airlines, merchant ships and news media, said the board will meet Monday for its first meeting.

The company isn't disclosing the nominees for election to the board.

-By Anthony Dovkants;44-171-832-9059;adovkants@ap.org