Globalstar Smashes the Satellite Airtime Price Barrier by Launching Unlimited Loyalty Rate Plan
MILPITAS, Calif., April 10 /PRNewswire-FirstCall/ -- Globalstar, Inc. (NASDAQ:GSAT), a leading provider of mobile satellite voice and data services to businesses, governments, and individuals, announced today that, anticipating the transition to its "Globalstar II" second-generation constellation, it has launched a new satellite airtime rate plan which will provide new and existing customers in the United States with unlimited satellite voice minutes for calls to the US, Canada and Caribbean. Beginning immediately Globalstar "Unlimited Loyalty" rate plan customers will be able to purchase unlimited satellite airtime at prices that set the new standard for value in the mobile satellite services (MSS) industry. The new plan also incorporates a unique declining monthly price schedule that automatically reduces the monthly fee at the completion of each calendar year.
Globalstar Unlimited Loyalty customers will pay just $49.99 per month for the remainder of 2007 for Globalstar satellite network access and unlimited home airtime satellite voice minutes. In 2008 the monthly fee will be reduced to $39.99 per month. In 2009 and 2010 the customer will pay only $19.99 per month. The unique promotion will be available for a limited time only and comes with a fixed price guarantee through the duration of the customer agreement, which ends on June 30, 2010.
"At prices previously unheard of in the mobile satellite services industry, this plan is an ideal solution for those people who felt satellite airtime was simply too expensive and beyond their reach," said Dennis Allen, Senior Vice President of Sales and Marketing for Globalstar, Inc. Mr. Allen added, "While we prepare to transition to our Globalstar II second-generation constellation, our customers have this tremendous opportunity to take advantage of a plan that simply sets a new standard in satellite airtime pricing." In late 2006 Globalstar announced it had signed an agreement with Alcatel Alenia Space for the design, manufacture and delivery of 48 new satellites for the company's second-generation constellation. With the first-generation satellites exceeding their expected design life, the company is also investing over $110 million to launch eight additional first generation satellites with the first four satellites scheduled for launch in May. Assuming the successful launch of eight spare satellites scheduled for this year, using the spares along with its functional first-generation satellite network, Globalstar will provide two-way voice and data satellite service to its customers through the launch of and transition to the Globalstar II second- generation constellation.
Unlimited Loyalty plan customers will also be eligible to purchase an optional additional full year of unlimited voice service after the first satellite launch of the second-generation constellation. For additional sales information and terms and conditions please contact Globalstar Sales at 1 877 SATPHONE (1 877 728-7466) or via email at About Globalstar, Inc.
With over 250,000 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 "The company is spending over $110 million to launch eight additional first generation satellites with the first four scheduled to launch in May," and "Globalstar will provide two-way voice and data satellite service to its customers through the launch of and transition to the Globalstar II second-generation constellation," 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. DATASOURCE: Globalstar, Inc.
CONTACT: Dean Hirasawa of Globalstar, Inc., +1-408-933-4006, or Web site: http://www.globalstar.com/
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