Globalstar Announces October 21st Launch Date of Four Satellites
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.
CONTACT: Globalstar, Inc.
+1 (408) 933-4006