GLOBALSTAR ACQUIRES INDEPENDENT SATELLITE GATEWAY OPERATOR IN CENTRAL AMERICA

Globalstar, the world‘s most widely used handheld satellite phone and a provider of satellite voice and data services to business, announced today that it has signed a definitive agreement to acquire 100% of the stock of Globalstar Americas Telecommunications, Ltd., Globalstar Americas Holdings Ltd., and Astral Technologies Investments, Ltd.

These three companies are currently privately held and are authorized by Globalstar to provide Globalstar service throughout Central America, including Belize, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Costa Rica. They also own and operate the Globalstar satellite gateway ground station located near Managua, Nicaragua. The gateway provides Globalstar satellite customers with access to the local public telephone system throughout the region.

The transaction is expected to close in mid-January 2006 and upon closing will be effective for financial purposes at the close of business on December 31, 2005.

Complete Press Release:
http://www.globalstarusa.com/