MEXICO CITY, Jan. 22 /PRNewswire/ -- Satelites Mexicanos, S.A. de C.V.
(Satmex) announced last week in Mexico that it had received full payment under
the claim presented as a result of the total loss of the Solidaridad 1
satellite, which occurred on August 27, 2000. The company also announced that
the funds would be largely dedicated to the construction and launch of the
replacement satellite, Satmex 6.
"We now have the resources necessary to finance the construction and
launch of the new satellite within the expected period. This confirms our
commitment to all of Satmex's stakeholders, including our clients, the Mexican
authorities, as well as the financial community," noted Lauro Gonzalez, CEO of
Satmex is a leading Mexican satellite operator in the Americas that leases
C and Ku band capacity on the Solidaridad 2 and Satmex 5 geostationary
satellites. Through its business partners in the NAFTA region and Latin
America, Satmex delivers over 170 DTH channels to thousands of households, as
well as news and entertainment to approximately 500 million viewers throughout
the continent. Satmex provides high-speed connectivity to ISPs and digital
broadcast services providers (DBS). Everyday, millions of long distance
telephone calls are transmitted by the Satmex fleet. Distance learning, rural
telephony and telemedicine, among others, are delivered through the Satmex
satellites, contributing to the development of rural regions, the integration
of Latin America and the rest of the continent, as well as more efficient
communications in the world's largest cities.
Satmex is a member of the Loral Global Alliance, offering its customers
the advantages of a worldwide network of satellite capacity currently
available on the Solidaridad 2 and Satmex 5 satellites, the eight-satellite
Telstar fleet, on the just launched Europe*Star 1 and on planned Brazil
satellites. Through this Alliance, Satmex provides global satellite
solutions, focusing on the needs and requirements of the Americas. For more
information, please visit the Satmex web site at http://www.satmex.com.
Principia is a leading Mexican telecommunications company that is majority
owned by the Autrey family and Mr. Lauro Gonzalez. In 1997, Principia and
Loral Space & Communications were selected to acquire 75 percent of Satmex in
connection with the privatization of Mexico's fixed satellite services. In
association with Loral Space & Communications and Vodafone AirTouch
Communications, Principia founded Globalstar de Mexico in 1996.
Loral Space & Communications (NYSE: LOR) is a high technology company that
concentrates on satellite manufacturing and satellite-based services,
including broadcast transponder leasing and value added services, domestic and
international corporate data networks, global wireless telephony, broadband
data transmission and content services, Internet services and international
direct-to-home satellite services. For more information, visit Loral's web
site at http://www.loral.com.