LightSquared Statement Regarding Inmarsat Notice

 

February 20, 2012

 

LightSquared has received a notice of completion from Inmarsat relating to the first phase of the companies’ 2007 multi-phase agreement to reallocate spectrum resources. As part of the first phase, Inmarsat is required to fulfill certain obligations important to the deployment of LightSquared’s 4G-LTE integrated terrestrial and satellite network and protection of their respective customers.

 

LightSquared has raised several matters that require resolution before the first phase comes to a close. The terms of the agreement allow for additional time to resolve pending questions before phase one is complete and the final payment is due.

 

LightSquared is committed to fulfilling its business plan to bring world-class wireless broadband connectivity to millions of Americans and believes that Inmarsat will remain an important partner in the company’s future endeavors.