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Filed by ICO-Teledesic Global Limited.
Pursuant to Rule 425 under the Securities Act of 1933
Commission File No: 333-46230
Subject Companies: New ICO Global Communications (Holdings) Limited
Teledesic Corporation
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The following press release was issued by ICO-Teledesic Global Limited
on October 6, 2000.
Media Contacts:
Teledesic
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Roger Nyhus, +1.425.602.6500; [email protected]
David Bowermaster, +1.425.602.6500; [email protected]
Corporate Office: +1.425.602.0000; [email protected];
www.teledesic.com
Motorola
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Kathi Haas +1.480.456.2517, [email protected]
TELEDESIC AND MOTOROLA AGREE TO END SYSTEM AGREEMENT AS TELEDESIC
PREPARES TO MERGE WITH ICO-TELEDESIC GLOBAL
BELLEVUE, Wash. - Oct. 6, 2000 - Teledesic LLC and Motorola, Inc. (MOT:NYSE)
have agreed to end their Teledesic system agreement in the wake of Teledesic's
plans to merge with ICO-Teledesic Global Limited, Teledesic announced today.
The mutual decision by Teledesic and Motorola to end the system agreement that
called for Motorola to serve as prime contractor of the Teledesic system gives
Teledesic the flexibility to pursue alternative approaches for building its
global, broadband satellite communications network.
The McCaw organizations and Motorola will maintain a close relationship, and
Motorola remains an investor in Teledesic.
Telecommunications pioneer Craig McCaw and Microsoft founder Bill Gates are
Teledesic's two primary founding investors. Strategic investors also include
Motorola, Saudi Prince Alwaleed Bin Talal, The Boeing Company and The Abu Dhabi
Investment Company. Teledesic is the first licensed satellite communications
network that will enable affordable, worldwide access to advanced
telecommunications services such as computer networking, broadband Internet
access and interactive multimedia. Teledesic will deliver broadband data and
value-added services over a global network optimized for the Internet Protocol.
Teledesic (pronounced "tel-eh-DEH-sic") is based in Bellevue, a suburb of
Seattle, Washington, with offices in Brussels, Belgium; London, United Kingdom;
Madrid, Spain; Munich, Germany; Ottawa, Canada; Riyadh, Saudi Arabia; and
Washington, D.C.
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Editors' Note: Teledesic and Internet-in-the-Sky are registered service marks
of Teledesic LLC.
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We urge you to read the Prospectus filed by ICO-Teledesic Global Limited and
New ICO Global Communications Holdings with the Securities Exchange Commission
as part of a Registration Statement on Form S-4 on September 20, 2000, because
it contains important information. The Prospectus will be sent to stockholders
of ICO-Teledesic Global Limited, New ICO Global Communications (Limited) and
Teledesic Corporation in connection with the solicitation of their approval of
the proposed mergers of ICO-Teledesic Global Limited with New ICO Global
Communications (Holdings) Limited and Teledesic Corporation with a subsidiary
of New ICO.
You may obtain a free copy of the Registration Statement on Form S-4 (File No.
333-46230) and other documents filed by the companies with the Commission at
the Commission's web site at www.sec.gov. The Registration Statement may also
be obtained from the Commission's public reference room located at 450 Fifth
Street, NW, Washington, D.C. 20549 or at one of the Commission's other public
reference rooms in New York, New York and Chicago, Illinois. Please call the
SEC at 1-800-SEC-0330 for further information on the public reference rooms.
The Registration Statement may also be obtained from ICO-Teledesic Global
Limited by contacting ICO-Teledesic Global Limited, 2300 Carillon Point,
Kirkland, WA 98033, Attention: Barbara Worlein.
