Iridium LLC today notified the U.S. Bankruptcy
Court that Iridium LLC had not been able to attract a qualified buyer by the deadline set
by the court. Iridium LLC announced that it will terminate its provision of commercial
service after 11:59 p.m. tonight, and that it will begin the process of liquidating its
assets.

Motorola, Inc. (NYSE:MOT) today issued the following statement:

Motorola will maintain the Iridium satellite system for a limited period of time, while
the deorbiting plan is being finalized. During this period, we also will continue to work
with subscribers in remote locations to obtain alternative communications. However, the
continuation of limited Iridium service during this time will depend on whether the
individual gateway companies, which are separate operating companies, remain open.

 

Motorola is extremely disappointed that Iridium LLC has not succeeded in its effort to
emerge from voluntary bankruptcy. Motorola and other Iridium investors have worked very
hard to support Iridium LLC’s efforts to reorganize and continue operating the
business. Unfortunately, that has not happened.

Iridium is an example of a proven, pioneering technology. Many of our finest people
worked together worldwide to implement a global communications system that was, from a
technology standpoint, an extraordinary achievement. Going forward, Motorola will continue
to look for new opportunities that will provide a path to the future. But, as in the case
of Iridium, Motorola will continue to absorb the risk through a conservative management of
its balance sheet.

In order to support those customers who purchased Iridium service and equipment
directly from Motorola, customer support call centers and a website that are available 24
hours a day, seven days a week have been established by Motorola. Included in the
information for customers is a list of alternative satellite communications services.

Motorola, Inc. (NYSE:MOT) is a global leader in providing integrated communications
solutions and embedded electronic solutions. Sales in 1999 were $30.9 billion.