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To: Valueman who wrote (5035)	6/4/1999 11:08:00 AM
From: djane	Read Replies (2) \| Respond to of 29987

ICO Global Communications Extends Rights Offering by Three Weeks Friday June 4, 10:46 am Eastern Time Company Press Release LONDON--(BUSINESS WIRE)--June 4, 1999--ICO Global Communications (Holdings) Limited (Nasdaq:ICOGF - news) announced today that its rights offering has been extended three weeks to a new expiration date of June 24, 1999. Subscriptions under the rights offering totalled $407 million at the close of business in New York on June 3, 1999. The amount was less than the $500 million minimum required for the rights offering to be completed at that time. The ICO Board of Directors decided to extend the offering to give a number of strategic investors more time to subscribe or to increase their subscriptions. Shareholders of record on June 24, 1999 will be granted one non-transferable right for each ordinary share owned. Each right entitles the shareholder to purchase one ordinary share and to subscribe for additional ordinary shares at the subscription price of $5.00 per ordinary share. Rights may be exercised in advance but not later than June 24, 1999. The rights offering will permit shareholders to purchase up to 207,607,618 ordinary shares of ICO. ICO will issue a revised prospectus on or about June 7 to reflect the extension of the rights offering. A copy of the revised prospectus can be obtained by contacting the information Agent, Georgeson & Company Inc., at Wall Street Plaza, New York, NY 10005, telephone 800\223-2064 or 212\440-9800. Subscriptions received through June 3, 1999 will be carried over to the new expiration date. Shareholders who wish to withdraw their subscriptions may do so by notifying the Subscription Agent. The Subscription Agent is The Bank of New York and can be reached by calling 212\815-6173, by sending a facsimile to 212\815-6213, or by writing to The Bank of New York, Tender and Exchange Department, P.O. Box 11248, Church Street Station, New York, NY 10286-1248, U.S.A. Donaldson, Lufkin & Jenrette Securities Corporation will coordinate the global distribution of the rights and the ordinary shares that may be purchased upon exercise of the rights. Dealer managers include Donaldson, Lufkin & Jenrette; Salomon Smith Barney; and Lazard Freres & Co. LLC, as well as ING Baring Furman Selz LLC, ABN AMRO Rothschild (a division of ABN AMRO Incorporated), Deutsche Bank Securities, J.P. Morgan & Co., Banc of America Securities LLC, and Tokyo-Mitsubishi International plc. Lazard Freres & Co. LLC has been retained as financial advisor to ICO in connection with this offering and will assist with the solicitation of ICO's strategic investors. ICO's transfer agent, The Bank of New York, will serve as Subscription Agent for the rights offering. Georgeson & Company will serve as the Information Agent for the rights offering. Editors' Note ICO Global Communications (Nasdaq:ICOGF - news) was established in January 1995 as a private company to provide global mobile personal communications services by satellite, including digital voice, data, facsimile, high penetration notification, and messaging services. ICO Global Communications was listed on Nasdaq in July 1998. Contact: ICO Global Communications Joseph Tedino, 202/887-8111, mobile: 202/255-0892 Email: joseph.tedino@ico.com More Quotes and News: ICO Global Communications (Holdings) Ltd (Nasdaq:ICOGF - news) Related News Categories: computers, internet, telecom Help Copyright © 1999 Business Wire. All rights reserved.