DBSI Signs Spacecraft and Launch Service Contracts
Worth $47 Million for LEO Satellite System MILL VALLEY, Calif. (ots-PRNewswire) - DBS Industries, Inc. (OTC Bulletin Board: DBSS) today announced it has signed contracts totaling million with Surrey Satellite Technology Ltd. (SSTL) in the UK and with Eurockot, a joint venture partner of Daimler Chrysler Aerospace (Dasa), Germany and Khrunichev State Research and Production Space Center, Russia. The contract covers spacecraft construction and launch services associated with its planned constellation of six low-earth-orbiting (LEO) satellites for two-way data messaging. "We are gratified to have partners with the international prestige and qualifications of SSTL and Eurockot, who will enable DBSI to stay on the critical path toward its in-service date," said Fred W. Thompson, president and chief executive officer of DBSI. "SSTL is a recognized commercial manufacturer and operator of LEO satellites which has designed, built and launched 14 microsatellites for commercial customers," Thompson added. "These customers required communications services, remote sensing and technology verification, as well as space science missions with civil and military applications." Thompson added: "Both SSTL and Eurockot, an experienced launch services provider, have signed share purchase agreements to make an equity investment in DBSI, the terms and conditions of which will be disclosed during the coming month." Alcatel Space Industries, France, which has been working under a $2 million contract with DBSI since last December for system engineering, payload and ground segment specifications, has requested additional time to complete the technical specifications and agree on final terms for an "end-to-end, in orbit" contract. DBSI has granted the extension and will continue to work with Alcatel, while also continuing to talk with other qualified companies who are candidates to become prime contractor and communications payload manufacturer. Final contract terms will be completed within the next month, at which time the prime contractor and communications payload manufacturer will be appointed to join the consortium. The satellite system will utilize the license issued by the Federal Communications Commission on April 1, 1998 to E-SAT, Inc., a company jointly owned by EchoStar Communications (Nasdaq: DISH) and DBS Industries. DBSI said it expects to launch the first group of three satellites in the first quarter, 2001. DBSI's system will target hard-to-locate utility meters and other fixed assets, first in the US and later, as operating permits are obtained, in other countries around the world. Low- power transmitters utilizing Code Division Multiple Access (CDMA) technology will transmit usage, safety and other messages to satellites circling the globe in near-polar orbit. Gunther Stamerjohanns, chief executive officer of Eurockot, expressed satisfaction with the DBSI contract: "We have had a long association with DBSI and the E-SAT project and we are delighted that we have been selected as the launch partner for this exciting program," he commented. "We have every confidence in the E-SAT project and are delighted to participate in this exciting venture," said Professor Martin Sweeting OBE, managing director of SSTL. "The design and build of the E-SAT constellation will exploit the extensive skills and experience which the company has acquired in sophisticated microsatellite technology over the last 20 years." DBSI is a development stage company dedicated to providing low-cost data messaging services to businesses around the world. Through its jointly-owned E-SAT licensee, it plans to concentrate on the hard-to-access sector of the Automated Meter Reading (AMR) market, which has been estimated to include more than 130 million units worldwide. SSTL, a University of Surrey company, was formed to make the cost-effective small satellite techniques developed by the University's researchers available in the commercial marketplace. Independent from the University, SSTL retains close links with the advanced research and educational facilities on the campus. Based at the Surrey Space Centre, which contains state-of-the-art clean room facilities, SSTL not only designs and builds commercial satellites, but also runs highly successful microsatellite technology transfer and training programs. Eurockot is the joint venture of DaimlerChrysler Aerospace (Dasa), Germany, and Khrunichev State Research and Production Space Center, Russia, to market the Russian Rockot launch vehicle as a readily available, proven and competitive launch system to the LEO satellite market. Rockot is a three-stage liquid propellant launcher with the reignitable, highly maneuverable Breeze upper stage. The booster units (1st and 2nd stage) consist of the highly-reliable SS-19 ICBM, to which the newly developed upper stage Breeze is added. NOTE: This press release contains forward looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in a forward looking statement. Factors that might cause such a difference include, but are not limited to, the availability of project financing for the LEO satellite system on terms and conditions favorable to DBSI and other factors set forth in the company's documents filed with the Securities and Exchange Commission. Readers should not place undue reliance on forward looking statements, which only reflect the view of management as of the above date. The company does not undertake the obligation to publicly revise these forward looking statements to reflect subsequent events or circumstances. Readers should carefully review the risk factors described in other documents the company files from time to time with the Securities and Exchange Commission. ots Original Text Service: DBS Industries, Inc. Internet: http://www.newsaktuell.de Contact: Michael Vernetti of DBSI, 415-380-8055, email@example.com; or Neal Rosen of Kalt Rosen Chase & Co., 415-397-2686, for DBS Industries Web site: http://www.dbsindustries.com
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