Globalstar's Soyuz No. 8 Launch Campaign Proceeding On
Schedule in Baikonur
Additional Satellites to Augment First Generation Network
and Will Transition to Second-Generation Constellation
MILPITAS, Calif., Oct. 17, 2007 (PRIME NEWSWIRE) -- Globalstar, Inc. (Nasdaq:GSAT), a leading provider of mobile satellite voice and data services to businesses, governments, and individuals, announced today that October 21, 2007 is the scheduled date for the launch of four Globalstar first-generation ground spare satellites. These four satellites, together with four satellites that were launched on May 30th, will be used to augment the company's current first-generation LEO (low earth orbit) satellite constellation.
Globalstar has invested over $120 million for the two 2007 launches of four satellites each by the Russian-European launch services company Starsem. Like the previous launch in May of this year, this launch will be conducted from the Baikonur Cosmodrome in Kazakhstan. Globalstar will once again be using the highly reliable, human-rated Soyuz launch vehicle, which Starsem has used to successfully launch a total of twenty-eight Globalstar satellites.
"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 deliveries of the launch vehicle and the spacecraft," said Tony Navarra, President of Global Operations for Globalstar, Inc. Mr. Navarra added, "We are eagerly anticipating this launch as these satellites will really serve a dual role for Globalstar. Although they represent the completion of our current generation space segment, these satellites along with the four launched earlier this year, will also facilitate a seamless transition into our second-generation constellation beginning in 2009."
Globalstar plans to integrate the eight first-generation satellites launched in 2007 and potentially other, older first-generation satellites into the replacement constellation, which is designed to be compatible with the current Globalstar satellites and products.
About Globalstar, Inc.
With over 275,000 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 integrate the eight first-generation satellites launched in 2007 and potentially other, older first-generation satellites into the replacement constellation, which is designed to be compatible with the current Globalstar satellites and products," 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.