RESTON, Va., April 19, 2005 (PRIMEZONE) -- Mobile Satellite Ventures (MSV) today announced that Evercore Partners has been selected to provide financial, fundraising and strategic advisory services to MSV. This engagement follows the Federal Communications Commission's (FCC's) February 28th publication of ground breaking rulemaking on the provision of hybrid terrestrial-satellite networks using ancillary terrestrial component (ATC). This FCC ruling, combined with the recent award of four omnibus patents for ATC technology, has led to increased funding and partnership opportunities for MSV. To assure its future success, MSV is moving to ensure the financial and partner support necessary for the timely roll-out of its hybrid terrestrial-satellite network.
Evercore Partners, a leader in financial advisory and investment banking services, has been engaged to assess financial and strategic transactional opportunities which will provide optimal growth and value potential to MSV and its stockholders as MSV constructs its new ATC network.
"With our ATC licenses and patents in hand, the time is now ripe to accelerate the financing of the next generation satellite and ground system. We are pleased with the interest potential parties have shown in our company and are aggressively pursuing strategic opportunities," stated Alexander H. Good, vice chairman and chief executive officer of MSV. "Evercore Partners has a long history in facilitating growth opportunities for telecommunication companies. We are very pleased they are engaged to work with us."
Roger Altman, chairman of Evercore Partners stated, "We are delighted to be working with MSV at this point in its development. We believe MSV is uniquely positioned with a tremendous spectrum position and significant intellectual property to be a major player in the roll-out of a ubiquitous wireless broadband network in conjunction with leading strategic partners."
About Mobile Satellite Ventures
Mobile Satellite Ventures is developing the next generation hybrid wireless network that will use a powerful satellite constellation working in unison with MSV's patented ancillary terrestrial component (ATC) technology to deliver seamless wireless services to end-users over standard wireless devices.
MSV is North America's premier provider of mobile satellite communications. Delivering service since 1996, MSV offers customers a wide choice of wireless data, voice, fax and dispatch radio services via its two MSAT satellites. MSV provides superior capacity and reliability for customers across North America, northern South America, Central America, the Caribbean, Hawaii and in coastal waters.
The MSV investor group includes Motient Corporation (Pink Sheets:MNCP), SkyTerra Communications (OTCBB:SKYT), TMI Communications, Columbia Capital, and Spectrum Equity Investors.
MSV has offices in Reston, Va., and Ottawa, On. For more information, visit MSV online at www.msvlp.com.
About Evercore Partners
Evercore Partners, based in New York and Los Angeles, is a privately held merchant bank. Evercore provides mergers and acquisitions as well as restructuring advisory services. Evercore, through its Evercore Capital Partners and Evercore Ventures affiliates, manages committed capital of $1.3 billion in private equity and venture capital investments. www.evercore.com