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[hanglinlll]

RESTON, Va., June 16 /PRNewswire-FirstCall/ -- TerreStar Networks Inc. (TerreStar), a majority owned subsidiary of TerreStar Corporation (TSTR), today announced that the launch of TerreStar-1 has been scheduled for July 1, 2009. TerreStar, after consultation with our vendors, has concluded its analysis of an on-orbit anomaly that occurred recently on another operator's satellite and believes that occurrence has no bearing on the flight worthiness of TerreStar-1. Arianespace, TerreStar-1's launch services provider, has agreed to this launch date.

"We have conducted extensive analysis and our vendors have also conducted exhaustive testing and analysis. As a result, we believe TerreStar-1 is ready to launch," Dennis Matheson, CTO of TerreStar said.

"We are pleased that our process has validated TerreStar-1's flight worthiness. Today's announcement means we are that much closer to bringing the next generation of mobile communications to North America," said Jeffrey Epstein, President of TerreStar.

Final authorization of the updated launch date is subject to FCC approval of a new launch milestone. No change to the August 30 FCC/Industry Canada operational milestone is necessary.

Arianespace has established a two hour launch window that will open at 16:14 GMT on July 1, 2009.

An updated countdown clock is available at TerreStar Networks Inc..


About TerreStar Networks Inc.

TerreStar Networks (TerreStar Networks Inc.), a majority owned subsidiary of TerreStar Corporation (NASDAQ: TSTR) , plans to offer a reliable and secure satellite terrestrial mobile broadband network that will provide voice, data and video services dedicated to helping solve the critical communication and business continuity challenges faced by government, emergency responders, enterprise businesses and rural communities. TerreStar expects to offer next generation mobile communications through a network of partners and service providers to users who need "anywhere" coverage throughout the United States and Canada.

TerreStar is building North America's first all-IP enabled, next generation mobile communications network over an integrated satellite-terrestrial system. The network will provide universal access and tailored applications to millions of users throughout North America via mass market commercial wireless devices.

TerreStar's system will operate in two 10-Mhz blocks of contiguous spectrum in the 2 GHz band throughout the United States and Canada. The company's spectrum footprint will cover a total population of nearly 330 million. (click here for coverage map)

The company's first satellite, TerreStar-I, currently under construction by Space Systems/Loral, will be the world's largest and most powerful commercial satellite ever deployed. With an antenna almost 60 feet across, and up to 500 dynamically-configurable spot beams, TerreStar-I will surpass current satellites in terms of signal sensitivity and the number of spot beams it can generate.

The satellite's powerful antenna will enable TerreStar to deliver services over a broad range of commercially available consumer-style wireless devices utilizing existing commercial chip technology including cell phones, PDAs, laptops and legacy devices such as Land Mobile Radios (LMRs)-effectively outdating bulky and cumbersome satellite phones.

TerreStar's innovative network management techniques based on adaptations of existing cellular/PCS system technologies will enable mobile devices to transition seamlessly (bi-directionally) between terrestrial and satellite modes.

[hanglinlll]

It starts to take off.

[kns98]

any idea of target price?

[hanglinlll]

$2 before launch and $4 after successful launch

[AKrider]

Nice, glad I bought in yesterday. Thanks for the heads up

[ghoshdd]

Guys - Do you think it will be good to buy today morning..

[fearles]

Good pick hanglinlll, I gave you props. I am a little late to the party (got in this morning at 1.57) but I am liking the ride so far.

[bhcfinance]

I would suggest anyone who bought in around $1.00 to take half their shares off to guarantee profit. Always be disciplined.

[InvestorGadget]

I bought in yesterday because I liked the prospects of the largest commercial satellite in the world being launched in under 2 weeks. I think the run-up will be announced as a big gainer and this will attract a lot more attention. Also, if the largest commercial satellite in the world is being launched, you can rest assured it will be broadcast throughout the world. EPPS before launch $3+, EPPS after launch $4.70+. JMO Thank you very much for the heads up, I am up 33% right now.

[soldtoosoon]

Agree with pps estimates. Look at Stockcharts Point and figure for confirmation: TSTR - P&F Charts from StockCharts.com[PA][D][F1!3!!!2!20]&pref=G
I bot in on May 15 because of the DGI IPO along with GSAT. Then realized the potential in TSTR, sold GSAT on May 15 right before its run, hence my sig.

GLA