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PEWC PURCHASES IRIDIUM SHARES

 SCHAUMBURG, Ill., Jan. 11 /PRNewswire/ -- Motorola, Inc. (NYSE: MOT) and Pacific Electric Wire & Cable Co., Ltd. (PEWC) of Taipei, Taiwan, Republic of China, said that PEWC has become an investor in Iridium, Inc. by purchasing Iridium shares from Motorola and by assuming the remainder of a $40 million equity commitment by Motorola in Iridium.
 The commitment represents a five percent share in Iridium and reduces Motorola's commitment to approximately $230 million of the $800 million of Iridium, Inc. first-round equity financing, Motorola said.
 Iridium, Inc., an international consortium of telecommunications and industrial companies, will establish a global satellite communications system that will allow customers to call or be called anywhere on earth, anytime, using hand-held wireless telephones that communicate directly through a network of 66 low-earth-orbit satellites and gateway earth stations interconnected with the public telephone network. Iridium system services are expected to be operational in 1998.
 Pacific Electric Wire & Cable Co., Ltd. is a diversified international corporation with extensive interests in electric and telecommunications wire and cable manufacture, design, construction and maintenance of electric and telecommunications projects, real estate, leasing, construction and finance.
 Motorola is one of the world's leading providers of wireless communications, semiconductors, and advanced electronic systems and services. Products include two-way radios, pagers, personal communications systems, cellular telephones and systems, defense and aerospace electronics, automotive and industrial electronics, computers, data communications and information processing and handling equipment.
 -0- 1/11/94
 /CONTACT: George Grimsrud of Motorola, 708-576-2346/
 (MOT)


CO: Motorola, Inc.; Pacific Electric Wire & Cable Co., Ltd. ST: IN: TLS CPR SU:

WB -- NY043 -- 0998 01/11/94 12:16 EST
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Publication:PR Newswire
Date:Jan 11, 1994
Words:265
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