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IRIDIUM REPORTS SUCCESSFUL MEETING

 GENEVA, Jan. 28 /PRNewswire/ -- Representatives from 18 of 21 intended investors in Iridium, Inc., met for the first time as a group at an investor forum here this week to review the status of technical, marketing and financial plans for Iridium.
 The meeting generated enthusiasm and support for the Iridium design and agreement of the group to move ahead. Attending the meeting were representatives from Asia, the Pacific Rim, the Mideast, Africa, Europe and North, South and Central America.
 The intended investors have signed subscription agreements or letters of intent. These are non-binding until closing and represent an investment level beyond the $800 million targeted for the initial round of financing. The number of investors and funding level may change by closing, which is expected to occur in the first half of 1993.
 "We are very pleased by the enthusiastic participation of investors from around the world at this historic event," said George Fisher, chairman and chief executive officer of Motorola, Inc., which sponsored the forum.
 The investors asked not to be identified specifically at this time, citing confidentiality and non-disclosure agreements and requirements for interface with their governments. Motorola described the group as "financially strong and technically competent to support the marketing and other objectives of the global consortium."
 The Iridium system is a proposed $3.37 billion global telecommunications network being designed to use hand-held, wireless telephones that will communicate through a constellation of 66 low- earth-orbit satellites casting more than 3,000 spot beams on the surface of the earth. The Iridium network intends to offer its subscribers voice, paging, facsimile, data and radiodetermination satellite services (RDSS). Current plans estimate the launching of the Iridium system constellation of satellites to begin in 1996 with commercial service anticipated in 1988.
 -0- 1/28/93
 /CONTACT: Timothy R. Kellogg, 708-576-5301, or John M. Windolph, 202-371-6889, both for Iridium/


CO: Iridium, Inc. ST: IN: TLS SU:

KD -- DC002 -- 9997 01/28/93 03:00 EST
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Publication:PR Newswire
Date:Jan 28, 1993
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