Astrolink and Partners Close $900 Million Equity

Investment to Provide Global Broadband Services Via Satellite Bethesda, Md. (PROTEXT) - Lockheed Martin GlobalTelecommunications, TRW, Telespazio and Astrolink LLC todayannounced they have reached a strategic milestone by closing anequity investment that allows Astrolink to provide the world'sfirst global, on-demand, wireless broadband service toenterprises and consumers worldwide. (Photo: http://www.newscom.com/cgi-bin/prnh/19990721/DCW004 ) As a result of the agreement, Astrolink has received $900million in cash equity, which was announced in May 1999. LockheedMartin Global Telecommunications owns 46% of the new company, TRWand Telespazio, a company of the Telecom Italia Group, each own27% of Astrolink. This milestone comes after a series of necessary approvalsfrom the European Union and the U.S. State Department dealing,respectively, with matters including the competitive impact ofAstrolink in the European market and technology transfer betweencompanies of the United States and those of Europe. "We are extremely pleased to have completed this transactionthat clearly illustrates the level of confidence and desire ourpartners have in working together," said Celso Azevedo, presidentand CEO of Astrolink, following yesterday's signing ceremony atAstrolink's headquarters in Bethesda. "The documents are signed,sealed and delivered, and Astrolink now is an independent companypoised to be 'first to market' on a global scale. Now is the timeto focus on building our network, developing our business, andcompleting our negotiations with additional strategic equitypartners," he continued. The annual potential for all global broadband services isexpected to grow to nearly US$200 billion by 2005, and space-based broadband services will capture 10-15 percent of thatmarket. "Astrolink expects to take a significant percentage ofthe space-based broadband service market," said Azevedo. Based in Bethesda, Maryland, Astrolink will focus on the high-growth area of global broadband data services, including high-speed Internet access, corporate data networks and multimediaapplications. Customers will be able to install small satellitedishes at businesses and homes, allowing quick and efficientconnection to high-speed networks. Astrolink will provide broadband, multimedia services tobusinesses and consumers worldwide beginning in 2003. Astrolinkwill also market its services through Internet, telecom andinformation technology service providers around the world. otsOriginal Text Service: Astrolink LLC Internet:http://www.newsaktuell.de Contact: Layli Sobhani of AstrolinkLLC, 301-581-4028, e-mail: layli.sobhani@astrolink.com; CharlesManor of Lockheed Martin Global Telecommunications, 301-581-2727,e-mail: charles.manor@lmco.com; Dan McClain of TRW, 310-812-4702,e-mail: Dan.McClain@trw.com; or Fabrizio Tomada of Telespazio,011-39-06-4079-3335, e-mail: Fabrizio_Tomada@telespazio.it Photo:http://www.newscom.com/cgi-bin/prnh/19990721/DCW004 APPhotoExpress Network, PRN1; PressLink Online, 800-888-6195 PRNewswire Photo Desk, 888-776-6555 or 201-369-3467 Web site:http://www.astrolink.com

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