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To: djane who wrote (5033)	6/4/1999 11:06:00 AM
From: djane	Respond to of 29987

Development Activity Paused On Teledesic Constellation Friday June 4, 9:42 am Eastern Time Company Press Release SOURCE: Exigent International, Inc. MELBOURNE, Fla., June 4 /PRNewswire/ -- Exigent International, Inc. (Nasdaq: XGNT - news; CHX: XNT - news) today reported that subsidiary Software Technology, Inc. (STI), following the lead of strategic partner, Motorola, Inc., has suspended system engineering activity on the Teledesic ''Internet in the Sky'' program. Since February 1998 the Company has participated in a Strategic Alliance Agreement with Motorola, under which Motorola designated Exigent as the preferred supplier of command and control software for Motorola's future satellite constellations. Teledesic is a proposed communication satellite constellation consisting of 288 spacecraft in Low Earth Orbit. The system will provide access to global telecommunication facilities at ''fiber-like'' speeds and bandwidths. Commenting on the situation, Chairman and Chief Executive Officer B.R. ''Bernie'' Smedley said, ''We view this delay as temporary. The principle result of our action is that we have refocused a small group of our employees in Arizona pending Motorola's next-phase decision on its involvement in Teledesic. To date, however, we have derived significant technical benefits from the program: for the last eighteen months our most senior systems engineering talent have worked at solving the problems of the next generation of broadband satellite constellations.'' Smedley continued, ''Meanwhile, Exigent has now increased its pursuit of other broadband satellite business, beyond that formerly permitted under the Agreement with Motorola. We stand ready to fully participate in the commercial satellite industry as it moves ahead.'' According to Jeffery Weinress, Exigent's CFO, the Company is also analyzing the carrying value of the work, totaling approximately $1.5 million, that it performed under the strategic alliance. If this evaluation indicates that the value has been impaired, the Company will adjust the carrying value of the contract. This action could result in a non-cash impairment charge. Exigent International, Inc. (www.xgnt.com) is a holding company capitalizing on emerging high-technology opportunities, specializing in satellite command and control solutions for systems such as Iridium® and the NAVSTAR Global Positioning System (GPS). For more information contact: Jeffery Weinress, CFO at (407) 952-7550 or (888) 952-XGNT or FAX (407) 952-7555 or Email info@xgnt.com. Iridium® is a registered trademark and service mark of Iridium LLC. SOURCE: Exigent International, Inc. More Quotes and News: XNT - news Exigent International, Inc (Nasdaq:XGNT - news) Motorola Inc (NYSE:MOT - news) Related News Categories: aerospace/defense, airlines/aviation, computers, semiconductors, software, telecom Help Copyright © 1999 PRNewswire. All rights reserved.