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Exhibit 99.1
For Immediate Release
FEDERAL COMMUNICATIONS COMMISSION
GRANTS TRANSFER OF COMSAT LICENSES
TO LOCKHEED MARTIN
Action Clears Way for Completion of Lockheed Martin/COMSAT Combination
BETHESDA, Maryland, July 31, 2000 - A Federal Communications Commission (FCC)
order released today granting COMSAT Corporation authority to assign its space
and earth stations licenses to a subsidiary of Lockheed Martin will permit
completion of a strategic combination between the two companies.
In issuing the order, the FCC noted that after the merger the resulting
competition "will promote wider service offerings and lower prices for consumers
in the United States and abroad."
Lockheed Martin and COMSAT indicated they would finalize their combination later
this week.
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CONTACT: Charles Manor, Lockheed Martin Global Telecommunications, 301/897-6258
