Globalstar, Inc. (Nasdaq: GSAT), a leading provider of mobile satellite voice and data services to businesses, governments, and individuals, announced today that May 21, 2007 is the scheduled date (California time) for the first launch of four Globalstar first-generation ground spare satellites. These four satellites, together with four additional satellites due to be launched later this year, will be used to augment the company’s current first-generation LEO (low earth orbit) satellite constellation.
Globalstar is investing over $110 million in the two launches, which are to be conducted by the Russian-European launch services company Starsem (Arianespace, Astrium, Roscosmos, Samara Space Center) from the Baikonur Cosmodrome in Kazakhstan. Globalstar will once again be using the highly reliable, human-rated Soyuz launch vehicle, which Starsem used to successfully launch twenty-four Globalstar satellites from Baikonur in 1999.
“Now that the launch team has arrived at the Cosmodrome, I would like to thank Starsem and its contractors as well as Space Systems/Loral, the prime contractor for the first generation satellites and their sub-contractor Thales Alenia Space for facilitating the smooth and flawless deliveries of the launch vehicle and the spacecraft,” said Megan Fitzgerald, Senior Vice President, Strategic Initiatives and Space Operations for Globalstar, Inc. Ms. Fitzgerald added, “The team will now perform the preflight preparations needed prior to integrating the satellites with the launch vehicle.”
Mr. Jean-Yves Le Gall, Starsem and Arianespace Chairman and Chief Executive Officer, also noted his satisfaction, “With the arrival of the Globalstar satellites to Baikonur, joining the Soyuz launch vehicle from TsSKB-Samara, the Fregat upper stage from NPO-Lavotchkin and the satellites dispenser from Astrium, I am very pleased to welcome once again the entire Globalstar team to the Starsem launch facilities. We are proud to have the chance to perform Soyuz launches 7 and 8 for Globalstar and look forward to our continued participation in the Globalstar success.”
Globalstar plans to use its current constellation plus these additional eight first-generation satellites as it manages the transition through to the launch of the Globalstar II second-generation constellation, which is expected to begin in late 2009. About Globalstar, Inc.
With over 250,000 activated satellite voice and data units, Globalstar offers high value, high quality satellite services to commercial and recreational users in more than 120 countries around the world. The Company’s voice and data products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset tracking, data monitoring and SCADA applications.
Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as “Globalstar plans to use these eight additional first-generation satellites as it manages its transition through to the launch of the Globalstar II second-generation constellation, which is expected to begin in late 2009,” that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Globalstar’s control, including demand for the Company’s products and services; problems relating to the construction, launch or in-orbit performance of its existing and future satellites, problems relating to the ground-based facilities operated by it or by independent gateway operators; its ability to attract sufficient additional funding if needed to meet its future capital requirements; competition and its competitiveness vis-a-vis other providers of satellite and ground-based communications products and services; the pace and effects of industry consolidation; the continued availability of launch insurance on commercially reasonable terms, and the effects of any insurance exclusions; changes in technology; its ability to continue to attract and retain qualified personnel; worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis; and legal, regulatory, and tax developments, including changes in domestic and international government regulation.
Any forward-looking statements made in this press release speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and the Company undertakes no obligation to update any such statements. Additional information on factors that could influence Globalstar’s financial results is included in its filings with the Securities and Exchange Commission, including its annual report on form 10-K for the year ended December 31, 2006.
