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GE American Communications and Lockheed Martin Global Telecommunications Form Joint Venture to Bring Advanced Satellite Services to Asia Pacific

JV to Deploy New Ku-Band Geostationary Spacecraft

PRINCETON, NJ, August 11, 1998 Two of the industrys leading satellite service providers GE American Communications (GE Americom) and the newly formed Lockheed Martin Global Telecommunications today agreed to form a joint venture to deploy a new satellite system that will serve the communications needs of the burgeoning Asia Pacific region. The two companies will each own an equal share of the new venture.

The new spacecraft, called GE-1A, will provide a wide range of services including television distribution and wideband internet applications to businesses and consumers in Asia Pacific. Based on a geostationary, Ku-band design, the new satellites powerful transponder capabilities enable a wider range of users to receive satellite signals through receiving antennas as small as 65 centimeters.

"The GE-1A venture will allow us to serve over 80% of the worlds population when combined with our significant European, North American and South American presence," said John F. Connelly, Chairman and Chief Executive Officer of GE Americom. "Our customers around the world as well as those based in the Asian region will welcome the new and powerful connectivity of GE-1A. We will be opening Asian regional offices to deliver the highest quality customer service," he added.

"In Asia-Pacific, where terrestrial facilities are either unavailable or cost-prohibitive, broadcast service providers now have another option for meeting the regions growing demand for direct-to-home services," said John V. Sponyoe, Chief Executive Officer of Lockheed Martin Global Telecommunications. "Satellite communications, and the powerful transponder capabilities of the GE-1A, provide the best solution for expanding universal access to communications within Asia Pacific and other capacity-strapped markets," he said.

The GE-1A satellite takes advantage of Lockheed Martins award-winning A2100 bus, offering the most powerful transponder capabilities currently operating in the marketplace. The satellites main coverage will be targeted to the fast developing Indian, Northeast Asian, Chinese and Philippine regions. The system is expected to meet pent-up bandwidth demand resulting from insufficient fiber-optic terrestrial infrastructure by the regions broadcasters, providers of consumer entertainment services and Internet Service Providers.

The GE-1A, which will have 28 Ku-band transponders, is scheduled to launch in July 1999. The satellite is planned to be located at 97 E. L.

Lockheed Martin Global Telecommunications offers space-based telecommunications solutions for state-of-the-art mobile telephony, direct broadcast/direct-to-home, broadband and fixed satellite services. Headquartered in Bethesda, Maryland, Lockheed Martin is a highly diversified global enterprise principally engaged in the research, design, development, manufacture and integration of advanced-technology systems, products and services. The Corporation's core businesses span space and telecommunications, electronics, information and services, aeronautics, energy and systems integration. Employing approximately 170,000 people worldwide, Lockheed Martin had 1997 sales surpassing $28 billion.

With over 20 years of experience, GE Americom is one of the worlds largest satellite operators and a pioneer in satellite distribution of television programming. GE Americom operates 11 satellites providing satellite-based solutions for North America, Europe, the Middle East and Asia with the launch of GE-1A. In South America, GE Americom is an equity investor in the NahuelSAt satellite system. Some of GE Americoms key international customers include Viacom, Time Warner/Turner, Discovery, NBC, NHK, Disney, Deutsche Welle and Merlin. Through its subsidiary GE Capital Spacenet, GE Americom provides VSAT and global network solutions in over 40 countries.

GE Americom is a GE Capital business. GE Capital with assets of over US$250 billion, is a global, diversified financial services company with 28 specialized businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, CT., provides equipment management, mid-market and specialized financing, speciality insurance and a variety of consumer services, such as car leasing, home mortgages and credit cards, to businesses and individuals around the world. GE is a diversified manufacturing, technology and services company with operations worldwide.

Contact: Monica Morgan
609-987-4143

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