GLOBALSTAR GRANTED ACCESS TO RUSSIAN MARKET.MOSCOW--(BUSINESS WIRE)--April 3, 1996--Globalstar (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GSTRF GSTRF Globalstar Telecommunications Ltd ) announced today that it has received official government approval to market its worldwide satellite communications system In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. in Russia. The decision was made by the Governmental Commission on Electrical Communications (GCES GCES Glen Canyon Environmental Studies ) at the Ministry of Telecommunications of the Russian Federation and signed by V. B. Bulgak, chairman of GCES and the Minister of Communications. Globalstar L.P. and Rostelecom Joint Stock Company, Russia's leading telephone and communications operator, agreed to form a joint venture that will become the exclusive service provider of Globalstar service in Russia. As such, Rostelecom will be responsible for the transmission of any international Globalstar calls within the Russian Federation and for obtaining the necessary operating permits and licenses for providing the Globalstar service in Russia. Globalstar now has exclusive service provider agreements in more than 90 countries, representing 70 percent of the Globalstar business plan. Globalstar has also obtained more than 80 percent of the financing required to complete the $2.160 billion project. The Globalstar system of 48 low earth orbit (communications) low earth orbit - (LEO) The kind of orbit used by communications satellites that will offer high bandwidth for video on demand, television, and Internet communications. satellites will provide digitally crisp and continuous voice, data, facsimile and position location services worldwide. Globalstar is both a technological and economical business solution for worldwide mobile and fixed telephony. The system is designed to integrate with existing terrestrial telecommunications systems, not bypass them. All calls through the Globalstar system in Russia will be routed through the ground based gateway stations owned and operated by the Russian joint venture. A recent feasibility study by the Government Telecommunications Project Institute of Moscow found that the Globalstar system would be of benefit to a wide variety of users throughout the Russian Federation. The study showed that the Globalstar system was particularly well suited to providing telecommunications services in rural, sparsely populated and hard to reach regions of Siberia, the Far East, Chukotka, Kamchatka and Sakhalin. Globalstar, based in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , is an international consortium including the Loral Corporation, QUALCCOMM, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. ., AirTouch Communications, Alenia Spazio, Alcatel, DACOM DACOM Differential-Absorption Carbon Monoxide Monitor DACOM Diode Laser Based Differential Absorption Instrument DACOM Differential-Absorption Carbon Monoxide Measurements , Daimler-Benz Aerospace, Elsag Bailey, France Telecom, Hyundai, Space Systems/Loral and Vodafone Group. CONTACT: Tom Ross (212) 338-5656 |
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