Astrolink LLC Receives Approval From European Commission for Broadband Telecommunications Business.

BETHESDA, Md.--(BUSINESS WIRE)--June 28, 1999--

Astrolink LLC received the European Commission's (EC) final approval for the joint venture created by its three founding partners: Lockheed Martin Global Telecommunications, TRW, and Telespazio, a company of the Telecom Italia Group. Astrolink is one of the first global broadband satellite service venture to receive this approval. Astrolink will use next generation geostationary satellites to provide the world's first global, on-demand, wireless broadband service provider.

The EC application was filed on May 21, 1999 in response to the EC's competition rules for joint ventures wishing to conduct business in Europe. "The EC's approval of Astrolink applications marks a major milestone in the continuing development of our business. This step helps ensure that Astrolink can serve its customers in two continents immediately following the launch of our first satellite," said Celso Azevedo, president and CEO of Astrolink. "Astrolink can now accelerate the deployment of the world's fastest, most reliable global broadband service."

Astrolink announced US $900 million equity financing in May 1999. 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 multimedia applications. Customers will be able to install small satellite dishes at businesses and homes, allowing quick and inexpensive connection to high-speed networks.

Astrolink will provide broadband, multimedia services to businesses and consumers worldwide beginning in 2003. Astrolink will also market its services through Internet, telecom and information technology service providers around the world.