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Press Release |
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Sky Station International
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Formation of Sky Station
Africa Announced WASHINGTON, D.C., -- July 1, 1998 -- Mr. Jean Jipguep, former Deputy Secretary General of the International Telecommunication Union (ITU), and Mr. R. Moses Thompson, co-founder of Sky Station International (SSI), jointly announced today the formation of Sky Station Africa, the corporate entity which will provide Sky Station technology and service to the continent of Africa. Mr. Jipguep will serve as the Chairman and Mr. Thompson as President and CEO of the new entity. Sky Station International has pioneered technology that utilizes a solar powered lighter-than-air platform held geostationary in the stratosphere to provide high capacity wireless telecommunications services to large metropolitan regions. Worldwide regulatory approval for the use of stratospheric platforms was granted by the ITU in November 1997 and by the U.S. Federal Communications Commission (FCC) earlier that year. "Sky Station Africa has been initially funded through a substantial investment from our strategic partner, US/Africa Ventures Inc. With this capital commitment, we will begin to explore with both international development agencies and the private sector how to best bring this technology to the emerging nations of Africa. Telecommunications is the single most important infrastructure component to further economic development. Sky Station's technology provides the most flexible and cost efficient delivery system to provide that infrastructure. I am proud to have been elected Chairman of this new revolutionary initiative," said Mr. Jipguep. Mr. Thompson stated, "I am pleased to also announce that the International Finance Corporation (IFC) with support from the Italian Trust Fund has provided a grant to the company in order to undertake market by market feasibility studies for Sky Station's technology. This study will commence immediately and the results will be incorporated into an overall financial model that will be used to attract additional capital to Sky Station Africa for the purpose of financing platform deployment in local African markets." Roger Shearer, Chairman and CEO of US/Africa Ventures said, "I am proud that US/Africa Ventures has accepted a leadership role for this important initiative. Sky Station technology holds great promise for Africa and Sky Station Africa's mission will be to bring that technology to individual countries as rapidly as possible. We expect to deploy the first platform in 2001 which is when the first platforms will be available. Sky Station International has made a clear commitment to insure that Africa is at the forefront of this new technology deployment."
For further information please contact: Artemis Scantalides, Manager, Corporate Communications
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