SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): FEBRUARY 11,
1997
COMSAT CORPORATION
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(Exact name of Registrant as specified in Charter)
DISTRICT OF COLUMBIA 1-4929 52-0781863
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(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification
Number)
6560 ROCK SPRING DRIVE, BETHESDA, MD 20817
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(Address of principal executive offices) Zip Code
Registrant's telephone number, including area code (301) 214-
3000
NOT APPLICABLE.
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(Former name or former address, if changed since last report).
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ITEM 5. OTHER EVENTS
Attached to this report as Exhibit 99.1, and incorporated by reference
in this item, is a Press Release of the Corporation, distributed on
February 11, 1997, on the status of INTELSAT restructuring.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) Exhibits (listed according to the number assigned in Item 601 of
Regulation S-K).
EXHIBIT NO. DESCRIPTION
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99.1 Press Release dated February 11, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
COMSAT CORPORATION
By: /S/ Alan Korobov
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Alan Korobov
Controller
Date: February 11, 1997
<PAGE>
EXHIBIT INDEX
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EXHIBIT NO. DESCRIPTION
- ----------- -----------
99.1 Press Release dated February 11, 1997
<PAGE>
EXHIBIT NO. 99.1
COMSAT CORPORATION NEWS RELEASE
FROM: COMSAT Corporation
6560 Rock Spring Drive
Bethesda, MD 20817
PHONE: 301 214 3442
FAX: 301 214 7130
DATE: February 11, 1997
FOR IMMEDIATE RELEASE
- ---------------------
COMSAT STATEMENT ON STATUS OF
INTELSAT RESTRUCTURING
BETHESDA, Md. -- COMSAT Corporation commented today on the final
report of the INTELSAT 2000 Working Party to be presented at the April 1997
Assembly of Parties, a meeting of the 140 governments who are members of
the International Telecommunications Satellite Organization (INTELSAT).
While the report reflects positive momentum to proceed with the
restructuring of INTELSAT, it does not contain final recommendations on
some important issues, including the number of satellites to be transferred
to the affiliate and the level of external ownership in the new company.
When the Assembly meets in April, it is expected to determine future work
to be undertaken and a timetable for restructuring. Additional progress
needs to be made on the issues before a final consensus proposal can emerge
for review and adoption at a future INTELSAT Assembly of Parties.
As a result of these developments, it appears that key substantive
decisions may not occur until 1998. In the interim, however, COMSAT plans
to continue to actively work with and support the U.S. Government in joint
efforts to restructure INTELSAT.
--more--
COMSAT and (graphic trademark) are the registered trademark of COMSAT
Corporation.
<PAGE>
COMSAT Statement -- Page 2
COMSAT Corporation (NYSE:CQ) is a global provider of international
communications services and products. COMSAT World Systems is the U.S.
Signatory to INTELSAT and a 19-percent owner in the system.
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CONTACT: Janet Dewar Vice President, Corporate Affairs (301)214-3442
Allen Flower Chief Financial Officer (301)214-3660
