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Motient Commences Rights Offering; Holders of Record as of December 17, 2004 Eligible to Participate.

LINCOLNSHIRE, Ill. -- Motient Corporation (MNCP) announced today that it had commenced a rights offering for the sale of up to 2,500,000 shares of its common stock. The rights offering was first announced in December 2004, and was undertaken by Motient to allow stockholders who were unable to participate in Motient's November 2004 private placement of its common stock to purchase common stock at the same price paid by the purchasers in that private placement.

Motient previously had granted to its stockholders of record as of the record date (December 17, 2004), non-transferable rights, on the basis of one right for each share of Motient common stock held on the record date, generally entitling the holders of the Rights to subscribe for newly issued shares of Motient common stock at a rate of .103 new shares for each one right held. At the record date, the subscription price was set at, and remains, $8.57 per share purchased. Holders of these rights have 30 days, or until September 7, 2006, to exercise their rights for subscription.

Motient will not issue more than 2.5 million shares in this rights offering, and if Motient receives valid subscriptions for more than 2.5 million shares, then the number of shares issued to each purchaser will be reduced on a pro rata basis, so that the total number of shares issued will total 2.5 million shares. Only holders of record on the record date that did not participate in the November 12, 2004 private placement of Motient's common stock are eligible to participate in this rights offering. Affiliates and/or related parties of those that participated in the November 12, 2004 private placement are also excluded from participation.

An automatically effective registration statement relating to the rights offering was filed with the Securities and Exchange Commission on August 8, 2006. The terms and conditions of the rights offering, as well as instructions regarding participation in the rights offering, are set forth in the prospectus dated August 8, 2006 that forms a part of the registration statement. The prospectus is being mailed to our stockholders of record on the record date, and is also available from Georgeson, Inc., the information agent for the rights offering, by request by calling toll free at (866) 821-2550, as well as through the SEC's website, www.sec.gov. Stockholders should contact Georgeson, Inc. with any questions regarding the rights offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Nothing in this press release should be construed as investment advice or otherwise as an invitation to engage in investment activity. No prospectus related to the rights offering has been, or will be, filed for registration with any authority outside of the United States. The rights and shares of common stock are not being offered or sold to any person outside the United States. You should carefully consider the risks and uncertainties described in the prospectus to be delivered by Motient, including the information incorporated by reference therein, before deciding whether or not to exercise your rights.

About Motient Corporation:

Motient is the controlling shareholder of TerreStar Networks Inc., a development-phase satellite communications company, and a minority shareholder of Mobile Satellite Ventures LP, an established satellite communications company. TerreStar and MSV are both in the process of developing next-generation hybrid networks that plan to provide ubiquitous wireless service by integrating land-based towers and powerful satellites. These new networks will deliver services to standard wireless devices everywhere in North America. For additional information on Motient, please visit the company's website at www.motient.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Aug 8, 2006
Words:644
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