Geotek Reports Record Third Quarter Results; Revenues Increase 63 percent.

MONTVALE, N.J.--(BUSINESS WIRE)--Nov. 12, 1997--Geotek Communications Inc., (NASDAQ: GOTK) an international wireless mobile communications company, today announced financial results for the third quarter. Consolidated revenues of Geotek's wireless communications and communications products operations, for the three months ended Sept. 30, 1997, were $39.0 million, compared with $30.9 million, in the prior quarter and $23.9 million for the same period of 1996. The 63 percent increase over the prior year is primarily attributable to increased revenue from the sale of FHMA(R) infrastructure and systems to third party network providers in Korea and includes an 850 percent increase in revenues attributable to growth on the U.S. network. Consolidated revenues for the nine months ended Sept. 30, 1997 were $92.6 million compared to $67.9 million, in the prior year, an increase of 36 percent.

As of Sept. 30, 1997, the company had a total of $171.5 million in available capital, lines of credit, and pending transactions including $33 million in cash, a $20 million line of credit, up to $100 million in vendor financing from Hughes Network Systems ("HNS"), and $18.5 million in cash from the sale of Bogen Communications International ("BCI").

"As we continue to focus our energies and resources on addressing the market opportunity to provide our mobile business solutions, we are also devoting considerable efforts to satisfy our 1998 capital needs, which are on-track, as demonstrated by the recent sale of our interest in Bogen," said Yaron Eitan, chairman and CEO. "Our core wireless business continues to make strong progress. We are actively selling our product, overall customer satisfaction is up and we have concluded our third consecutive quarter of accelerated subscriber growth."

During the third quarter of 1997 net product sales were $30.2 million, compared with $22.9 million for June 30, 1997, and $15.1 million for the year prior. The 100 percent increase, over the prior year, resulted primarily from the sale of FHMA infrastructure equipment to third parties by Geotek Technologies Inc. Service revenues were $8.7 million for the third quarter of 1997, compared with $8.0 million for June 30, 1997, and $8.8 million for the year prior. In December 1996, the company deconsolidated its German networks, which were merged with RWE Telliance A.G.'s mobile radio network, and began accounting for the merged entity under the equity method of accounting. For comparative purposes, excluding the German networks, service revenues increased 15 percent to $8.8 million in the third quarter of 1997, from $7.6 million in the year prior.

The net loss attributable to common shares for the three months ended Sept. 30, 1997 was $59.3 million (87 cents per share), compared with $47.4 million (76 cents per share) for the three months ended June 30, 1997 and $37.2 million (63 cents per share) for the same period in the prior year. The net loss for the nine months ended Sept. 30, 1997 was $146.3 million ($2.30 per share), compared with $97.6 million ($1.69 per share) for the same period in the prior year.

Consistent with the company's expectations, the net loss was primarily attributable to costs associated with the roll-out of the company's US digital network, subscriber acquisition costs, engineering and development expenses associated with the introduction of the portable unit, as well as enhancements to FHMA(R)-related equipment and applications, increased equity losses in subsidiaries resulting from the on-start of network operations in Korea, and interest and dividends associated with the company's debt and equity securities.

Robert Kerstein, chief financial officer, said, "As is often the case with fast growing start-up companies in the wireless industry, Geotek will continue to incur substantial operating losses as it opens new markets and adds new subscribers. In order to achieve our build-out schedule we are actively pursuing financing alternatives to meet our ongoing capital requirements."

Financial Highlights

During the third quarter of 1997, the company generated revenues from wireless operations of $25.9 million, compared with $18.3 million, for June 30, 1997, and $10.0 million for the year prior. The 159 percent increase over the prior year resulted primarily from the recognition of approximately $14.7 million in revenue by Geotek Technologies Inc., for the sale of digital wireless infrastructure equipment to Korea and includes subscriber growth on the company's U.S. network.

Revenues for the company's US digital network operations were approximately $1.9 million for the three months ended Sept. 30, 1997, compared with $1.0 million for the prior quarter and $0.2 million for the same period in the prior year. Digital subscriber units activated at the end of the third quarter were approximately 10,000 compared with 5,400 in the second quarter, and 1,100 units in the prior year.

Revenues for the company's National Band Three ("NB3") UK wireless network were $7.7 million for the three months ended Sept. 30, 1997 compared with $8.0 million for the three months ended June 30, 1997, and $7.1 for the prior year. Subscribers on the company's NB3 network as of Sept. 30, 1997 were 64,900, compared with 64,700 on June 30, 1997, and 62,300 in the prior year. The company also maintains its 50 percent interest in a German wireless network, TERRAFON, which it accounts for on the equity method. As of Sept. 30, 1997, the company's share of TERRAFON's 40,900 subscribers was 20,450 compared with 19,500 in the second quarter of 1997. Reflecting NB3 and TERRAFON interests, the company had approximately 85,350 analog units on the company's international networks as of Sept. 30, 1997.

Revenues from the company's Bogen Communications International (BCI) subsidiary were $13.1 million for the three months ended Sept. 30, 1997, compared to $12.5 million for the three months ended June 30, 1997, and $12.4 million for prior year. The increase resulted from higher core product sales. Revenues for the nine months ended Sept. 30, 1997 were $37.1 million compared with $34.1 million for the same period in the prior year. Consistent with the company's long-term business strategy of focusing on its core wireless activities, Geotek decided in November 1997 to dispose of its 64 percent interest in BCI. The company recently announced a letter of intent under which it will sell its equity interest in BCI for $18.5 million in cash.

Engineering and development expenses for the three months ended Sept. 30, 1997 were $14.4 million, compared with $9.0 million for the three months ended June 30, 1997, and $9.7 million for the same period in the prior year. The increase in cost was primarily attributable to enhancements in the company's digital wireless system and software applications, non-recurring costs associated with the development of the new portable subscriber unit and IBM switch development costs. Consistent with the company's past practices, software development costs were expensed, as incurred.

General and administrative expenses for the three months ended Sept. 30, 1997 were $13.1 million, compared with $11.6 million for the three months ended June 30, 1997, and $9.4 million in the prior year. Sales and marketing expenses for the three months ended Sept. 30, 1997 were $10.3 million, compared with $9.3 million for the three months ended June 30, 1997, and $8.7 million in the prior year. The increase is the result of higher costs associated with the operational support of the roll-out and growth of the US networks as well as expenses incurred to support equipment sales activities in Korea and a digital solution in the United Kingdom, and is consistent with the company's expectations.

Geotek Communications Inc. is an international provider of mobile business solutions, services and digital wireless communications products and technologies. The company owns interests in and operates mobile networks in the United States, Korea, Canada, the United Kingdom and Germany. The company also develops, manufactures, markets, licenses and supplies communications systems based on its proprietary FHMA(R) technology. For more information on Geotek, visit the company's Web site (www.geotek.com). -0- This report contains certain "forward-looking" statements. The company desires to take advantage of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995 and is including this statement for the express purpose of availing itself of the protections of such safe harbor with respect to all of such forward-looking statements. Examples of forward-looking statements include company projections with respect to: a) the commercial implementation, scale up and operation of its US Network, the timing of the roll-out of its US Network and growth in its subscriber population; b) the company's future financial results, capital needs, sources of financing and economic conditions in markets the company serves; c) the company's prospects in foreign countries, including its ability to successfully manufacture sufficient quantities of equipment in a timely and profitable basis and d) the effect of certain legislation and governmental regulations on the company. The company's ability to predict any such projected results or to predict the effect of any legislation or other pending events on the company's operating results is inherently uncertain. Therefore, the company wishes to caution each reader of this report to carefully consider the specific factors discussed with such forward-looking statements and contained in the company's Annual Report on Form 10K for the year ended Dec. 31, 1996 and most recent 10Q's as such factors in some cases have affected, and in the future (together with other factors) could affect, the ability of the company to achieve its projected results and may cause actual results to differ materially from those expressed herein. -0- FHMA(R) is a registered trademark of Geotek Communications Inc.

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             GEOTEK COMMUNICATIONS, INC. AND SUBSIDIARIES
                      CONSOLIDATED BALANCE SHEETS
             (Dollars in thousands, except per share data)
                              (Unaudited)

                                   Sept. 30, 1997  Dec. 31, 1996
       ASSETS
Current assets:
Cash and cash equivalents             $  33,223    $ 103,605
Restricted cash                           7,949        9,418
Accounts receivable,
 principally trade, net                  17,197       15,435
Accounts receivable,
 related party                            1,292         --
Inventories, net                         28,956       28,150
Prepaid expenses
 and other current assets                25,814       23,384
  Total current assets                  114,431      179,992

Investments in affiliates                37,980       36,972
Property, plant
 and equipment, net                     122,584       93,581
Intangible assets, net                   93,901       91,508
Other assets, principally
 debt issuance costs                     16,497       28,069
                                      $ 385,393    $ 430,122

  LIABILITIES AND
 SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable - trade              $  18,697    $  20,587
Accrued expenses
 and other                               57,867       49,279
Notes payable, banks
 and other                                4,163        8,075
Current maturities,
 long-term debt                             460          261
  Total current liabilities              81,187       78,202

Long-term debt                          253,618      215,430
Other non current
 liabilities                                940        1,008
Minority interest                           832          438

Redeemable preferred stock               40,000       40,000

Commitments and
contingent liabilities

Shareholders' equity:
  Preferred stocks,
  $.01 par value:                            11           11
  Common stock, $.01 par value:
     Authorized 200,000,000
     shares, issued 69,723,000
     and 60,026,000 shares
     respectively, outstanding
     69,485,000 and 59,788,000
     shares, respectively                   697          600
  Capital in excess of par value        477,303      429,483
  Foreign currency
   translation adjustment                (3,177)         942
  Accumulated deficit                  (464,632)    (334,606)
  Treasury stock, at cost
  (238,000 common shares)                (1,386)      (1,386)
                                          8,816       95,044
                                      $ 385,393    $ 430,122

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             GEOTEK COMMUNICATIONS, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF OPERATIONS
             (Dollars in thousands, except per share data)
                              (Unaudited)

                      Three Months Ended      Nine Months Ended
                         September 30,          September 30,
                    ------------------------ ----------------------
                          1997       1996         1997          1996
                         ------     ------       -----       -------
Revenues:
Net product sales    $   30,260 $   15,170 $     67,863 $     43,398
Service income            8,750      8,775       24,726       24,463
                     ---------- ---------- ------------ ------------
Total revenues           39,010     23,945       92,589       67,861
                     ---------- ---------- ------------ ------------

Costs and expenses:
Cost of goods sold       30,495     10,411       61,480       30,344
Cost of services          7,888      6,785       20,526       19,033
Engineering
 and development         14,371      9,734       31,444       26,021
Marketing                10,314      8,678       27,474       24,571
General
 and administrative      13,103      9,447       33,476       25,431
Depreciation              5,599      4,342       14,151        9,242
Amortization
 of intangibles           1,174      1,482        3,487        4,000
Equity in losses
 of investees             1,024        149        4,633        1,169
Interest expense          8,338      8,547       27,297       23,870
Interest income            (346)    (1,739)      (3,629)      (4,910)
Other income, net           (31)       (53)        (143)        (848)
                     ---------- ---------- ------------ ------------
Total costs
 and expenses            91,929     57,783      220,196      157,923
                     ---------- ---------- ------------ ------------

Loss from operations
 before taxes
     on income
and minority interest   (52,919)   (33,838)    (127,607)     (90,062)
Taxes on income            (681)      (538)      (2,026)      (1,918)
Minority interest          (119)      (125)        (393)        (228)
                     ---------- ---------- ------------ ------------

Net loss                (53,719)   (34,501)    (130,026)     (92,208)
                     ---------- ---------- ------------ ------------

Preferred dividends      (5,614)    (2,683)     (16,325)      (5,389)
                     ---------- ---------- ------------ ------------

Loss applicable
to common stock      $  (59,333) $ (37,184)  $ (146,351)  $  (97,597)
                     ========== ========== ============ ============

Weighted average
 number of
 common shares
 outstanding         68,373,000   59,209,000   63,724,000   57,779,000
                    ============ ============ ============ ===========

Per common share:
 Net loss applicable
 to common shares    $   (0.87)  $    (0.63)  $     (2.30) $    (1.69)
                     ============ ============ ============ ==========

CONTACT: Geotek Communications Inc., Montvale

Randy Miller/Elysa Gonzalez

201/930-9305