TerreStar Announces New Chairman.William Freeman to Lead TerreStar's Continued Evolution RESTON, Va. -- TerreStar Networks TerreStar Networks is a Reston, VA-based company that operates integrated satellite and terrestrial telecommunications systems. It is a subsidiary of TerreStar Corporation. Inc., a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of Motient Corporation (MNCP), announced today that William Freeman was elected and will serve as its chairman of the board. Mr. Freeman has served as a director on TerreStar's board since May 2005. "I could think of no one better to take the reins to take the guidance or government; to assume control. See also: Rein as I join David Grain from Motient in our transition to focus on TerreStar Global's continued development," said Jared (Jerry) Abbruzzese, former chairman of TerreStar Networks Inc. "I recommended him to the board, I nominated him for appointment and I have full confidence in his abilities. He has served TerreStar with distinction and has a strategic, clear and focused vision to bring TerreStar to market." "In 2005, we had an exciting idea to build the nation's first integrated mobile satellite/terrestrial communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. . Today that idea is on the brink of reality," said William Freeman, chairman of the board, TerreStar Networks Inc. "I look forward to building on the success of the last couple of years and continuing to grow value for our shareholders. This is an exciting time for TerreStar and I'm honored to help lead this opportunity to transform mobile communications." "Bill brings years of telecommunications and operations experience that will help lead TerreStar as we mature from a development-phase company to one focused on execution and operations," said Robert H. Brumley, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Motient Corporation and its subsidiary TerreStar Networks Inc. "This is a natural evolution for us both and I'm pleased he will assume a greater leadership role as we bring into reality the nation's first integrated satellite/terrestrial communications network." William M. Freeman has served as a director of TerreStar's board since May 2005, and served as chairman of its audit committee and compensation committees. From 2004 to 2005, Mr. Freeman was the CEO of Leap Wireless International, Inc. From 1994 to 2004, Mr. Freeman was a senior executive at Verizon. He served as president - Public Communications Group from 2000 to 2004. From 1998 to 2000, Mr. Freeman was president and CEO of Bell Atlantic-New Jersey and from 1994 to 1998 he served as president and CEO of Bell Atlantic-Washington D.C. Mr. Freeman currently is a member of the board of directors of the CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group, Inc., a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. , and Value Added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. Communications, Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . He is vice chairman of the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of Drew University and a member of the board and a past chairman of the board of Junior Achievement Worldwide. About TerreStar Networks Inc. TerreStar (www.terrestar.com), a subsidiary of Motient Corporation (MNCP), plans to build, own and operate North America's first next-generation integrated mobile satellite and terrestrial communications network that will provide universal access and tailored applications throughout North America over conventional wireless devices. With a first-to-market launch strategy in 2008, TerreStar expects to offer customer-designed products and applications over a fully optimized 4G IP network. About TerreStar Global TerreStar Global, a subsidiary of Motient Corporation (MNCP), plans to build, own and operate a Pan-European resilient, interoperable two-way communications network to address public protection and disaster relief as well as provide broadband connectivity in rural regions to help narrow the digital divide. As Europe's first next-generation integrated mobile satellite and terrestrial communication network, TerreStar Global plans to deliver universal access and tailored applications over a fully-optimized IP network. TerreStar Global is a Bermuda registered company. About Motient Corporation Motient is the controlling shareholder of TerreStar Networks Inc. and TerreStar Global Ltd., and a shareholder of SkyTerra Communications and Mobile Satellite Ventures Mobile Satellite Ventures (MSV) is a Reston, VA company that develops telecommunications systems that integrate satellite and terrestrial radio communication technologies into one system. LP. For additional information on Motient, please visit the company's website at www.motient.com. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and : This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the strategy of Motient, its plans, and the transactions described in this press release. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, proposed, potential and similar words and terms in connection with future results. We assume no obligation to update or supplement such forward-looking statements. |
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