As a result of this agreement and previous capital infusions, OrbComm�s equity will increase by over US$100 million, mostly due to the conversion of certain payables to Orbital and Teleglobe. Also as a result of this agreement, which has been approved by the companies� respective Boards of Directors, Teleglobe becomes the majority owner and sole general partner of OrbComm.

"Orbital has been, and will continue to be, fully committed to the success of OrbComm," said Mr. David W. Thompson, Orbital�s Chairman and Chief Executive Officer. "We will continue to actively participate in OrbComm�s business activities, but without the need for further capital investments on our part if we so choose. Through this agreement, we are carrying out our long-standing strategy of maintaining a very significant ownership stake in the high-growth and high-margin potential of OrbComm and our other satellite services ventures, such as ORBIMAGE and ORBNAV.

"Our equity position in OrbComm and these other start-up companies is complemented by our space and ground infrastructure and satellite access products sectors that provide us with growing revenues and earnings. By eliminating our share of the future capital requirements for OrbComm, this agreement significantly eases our cash needs as we aim to generate improved financial results in 2000," added Mr. Thompson.

Mr. Claude S�guin, Executive Vice President, Finance, and Chief Financial Officer of Teleglobe, said, "This agreement enables OrbComm to continue its rapid growth and capitalize on the market leadership it has established at a time when significant progress is being made in a significant number of industry segments worldwide.

As a strategic investor, Teleglobe intends to continue to provide equity financing to OrbComm, which is also actively pursuing opportunities for third party equity in the partnership. While Teleglobe maintains its focus on its Internet strategy and GlobeSystem investment, we believe this agreement will allow Teleglobe to enhance the value of its investment in OrbComm."

"I am delighted by the partners� continuing commitment to OrbComm and the enhanced strength of the business as a result of this agreement. We believe this agreement enables us to accelerate our growth and deliver on the growing market demand for OrbComm services," said Mr. Scott L. Webster, Chairman and Chief Executive Officer of OrbComm.

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