ICO will become the main sponsor of the project that will henceforth be called the ICO Global Challenge, and the balloon�s call sign will change to ICO Global. In addition ICO�s logo will be prominently displayed on both the balloon and the capsule.

The Control Centre for this year�s attempt at circumnavigating the globe will be at the ICO Satellite Control Centre in Uxbridge. The new Control Centre is a bespoke state of the art communications and satellite control facility that will be ideal for tracking the progress of the ICO Global balloon around the world. The centre will also act as the main facility from which any search and rescue operations will be managed in the event that the balloon lands before completing a full circumnavigation of the world.

The total sponsorship package on completion of a successful global flight will be in excess of $5 million and will consist of staged payments at the achievement of milestones throughout both the launch phase and flight itself. The Virgin team will continue to manage the project and, as part of the sponsorship package, Virgin will retain its distinctive logo, underneath ICO�s, on both the balloon and the capsule.

Virgin founder, Richard Branson, commented: "When ICO approached us to sponsor this year�s balloon flight, I was intrigued. It was the first truly entrepreneurial sponsorship offer I have ever had put to me; there is a financial incentive for our success, and the prospect of teaming up with one of the most innovative telecom companies in the world, which will be launching pocket-sized satellite mobile phones in the year 2000. Per, Steve and myself have all had our lives saved by satellite communications and telecommunications technology, so we more than almost anyone else appreciate innovation in this area.

"We have done an enormous amount of work on our balloon and capsule technology since last year and Steve Fossett has given a valuable input into our balloon development programme since the summer. We are heading down to Marrakech to be launch-ready later this month and we are all waiting for the right weather conditions some time between December and January".

ICO Chief Executive Officer Olof Lundberg said: "We are delighted to join with the Virgin Team in this exciting project. We are an excellent match. We all understand the value of pushing the envelope: in balloon travel, telephone technology and in global business."

Virgin Challenger Site

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