RESTON, Va., May 24, 2007 – ICO Global Communications (Holdings) Limited (ICO) (NASDAQ: ICOG) today announced that it has signed a Launch Services and Dual Launch Study Agreement with ILS International Launch Services (ILS). With this contract, ICO has established a Proton launch services agreement for up to five launches in the 2009 through 2011 timeframe. In addition, ILS will design and propose a dual launch capability for ICO's Medium Earth Orbit (MEO) satellites.
Bob Day, ICO's Senior Vice President, Space Systems, commented, "ILS is well-known for their reliability, and with the lift capacity of the Proton Breeze M launch vehicle, ICO looks forward to the cost effective launch of ICO's Boeing satellites or those of another satellite vendor. Our goal, of course, is to add satellites to our existing ICO MEO constellation in a timely and economic manner."
"ILS successfully placed the first satellite in orbit for ICO in 2001," said Frank McKenna, President of International Launch Services. "We are very pleased to continue our direct support of ICO in this exciting next chapter of their business."
ICO Global Communications (Holdings) limited (www.ico.com) is a next-generation satellite communications company based in Reston, Virginia. ICO is developing an advanced hybrid system, combining both satellite and terrestrial communications capabilities, in order to offer wireless voice, data, video, and Internet services on mobile and portable devices.
ICO Point of Contact
Debbie Macomber, ICO
About ILS International Launch Services Inc.
ILS is a joint venture of Space Transport Inc., Khrunichev State Research and Production Space Center and RSC Energia of Moscow. ILS is incorporated in Delaware in the United States and is headquartered in McLean, Va., a suburb of Washington, D.C. For more information, visit www.ilslaunch.com.
Safe Harbor Statement
This press release contains forward-looking statements, including statements regarding the launch of additional satellites through ILS's launch services. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from our expected results, including challenges in developing a dual launch capability, obtaining launch-ready MEO satellites and regulatory uncertainties regarding our MEO system. More information about risks is contained in ICO's most recent Annual Report on Form 10-K and its other filings with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release speak as of the date hereof, and ICO undertakes no obligation to revise or update any forward-looking statements for any reason.