<PAGE>
Rule 424(b)(3)
Registration No. 333-75677
GLOBALSTAR TELECOMMUNICATIONS LIMITED
PROSPECTUS SUPPLEMENT NO. 1 DATED MAY 19, 1999
TO PROSPECTUS DATED APRIL 20, 1999
The Selling Holders table on pages 31 - 33 of the Prospectus is hereby
amended to update the information regarding the following entities and their
respective number of shares of Preferred Stock and Common Stock:
<TABLE>
<CAPTION>
Number of Shares Number of Shares
of Preferred of Conversion
Selling Holders Stock Shares
- --------------- ----- ------
<S> <C> <C>
R2 Investments, LDC(1) 599,850 1,289,650
Paloma Securities L.L.C.(2) 112,500 241,869
Donaldson, Lufkin & Jenrette Sec.Corp. 102,000 219,295
Susqehanna Capital Group 59,800 128,567
Hudson River Trust Growth + Income Account 57,900 124,482
American Century Heritage Fund 55,800 119,967
Equitable Life Assurance Separate Account -Convertible 37,300 80,193
Hudson River Trust Balanced Account 31,900 68,583
TCW Leveraged Income Trust LP 30,000 64,498
TCW Leveraged Income Trust LP II 30,000 64,498
Memphis Light, Gas + Water Retirement Fund 27,200 58,478
Hudson River Trust Growth Investors 26,700 57,403
Paloma Strategic Securities Limited 22,500 48,373
BNP Arbitrage SNC 20,000 42,999
Forest Fulcrum Fund LP(3) 16,500 35,474
<PAGE>
The Frist Foundation 6,000 12,899
Equitable Life Assurance Separate Account - Balanced 2,100 4,514
David Lipscomb University General Endowment 1,900 4,084
Forest Alternate Strategies Fund II LP A5I(4) 1,100 2,364
Forest Alternate Strategies Fund II LP A5M(5) 500 1,074
- -------------------------------------------------
(1)......Increase from formerly 569,850 Shares of Preferred Stock.
(2)......Reduction from formerly 120,000 Shares of Preferred Stock.
(3)......Name correction: Formerly listed as "Forest Fukeum Fund LP".
(4)......Name correction: Formerly listed as "Forest Alternate Strategies Fund II LP ASI".
(5)......Name correction: Formerly listed as "Forest Alternate Strategies Fund BLP ASM"
</TABLE>
-2-
