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Inmarsat To Concentrate On High Bandwidth Multimedia Services

Maritime Activity Reports, Inc.

November 3, 1999

As per the company's Board of Directors, Inmarsat has decided, after a comprehensive detailed analysis, that it will not be proceeding any further with direct investment in ICO Global Communications (Holdings) as it is not sufficiently compatible with Inmarsat's future growth strategy. "Our strategy is to focus on delivering global high bandwidth integrated multimedia mobile satellite communication services to the corporate market, and we are aggressively developing our business growth strategy in line with this," said Michael Storey, Inmarsat's president and CEO.
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