30/04/2007

Spacecom Completes Final Funding Round for AMOS-3 Satellite

Tel Aviv, Israel – 30 April 2007: Spacecom (Tel Aviv Stock Exchange: SCC), the AMOS satellites operator, today announced that it has completed full funding for its AMOS-3 satellite, slated for launch in the fourth quarter of 2007. The US $33 million tranche was completed with institutional investors on the Tel Aviv Stock Exchange.
Spacecom will apply the funds to complete the AMOS-3 satellite launch program and to pay its main contractor, Israel Aerospace Industries’ (IAI) MBT Space Division.

"Completion of funding for AMOS-3 represents a tremendous milestone for Spacecom and for each team member whose contributions have made the constellation a reality,” said David Pollack, Spacecom president and CEO. “Our CFO Itzhak Shnaiberg and his team worked tirelessly in bringing together all of the elements needed for a successful round of financing, and we are very excited by the market’s demonstration of support for our newest satellite.”

In November 2006, Spacecom announced that it had already sold more than 50 percent of total capacity on AMOS-3, which is expected to begin commercial service following in-orbit tests in the first quarter of 2008. AMOS-3 will enhance Spacecom’s satellite constellation at the 4°West longitude orbital location, providing significant back-up capabilities and service reliability. The new satellite also will deliver new features, such as Ka-band and steerable beams, expanded capacity and coverage areas, and enable direct cross-Atlantic connectivity between the Middle East, Europe and the U.S. East Coast.

With the launch of AMOS-3, Spacecom will be even better positioned to take advantage of burgeoning market demand for HDTV and IPTV and to deliver a full range of services, including direct-to-home (DTH), video distribution, VSAT networks and broadband internet.
ABOUT SPACECOM
Space-Communication Ltd. (Spacecom) is the operator of the AMOS satellites, which provide high-quality broadcast and communication services to Europe, the Middle East, and the Atlantic bridge to the . The AMOS satellite constellation, consisting of AMOS-1 and AMOS-2 co-located at the prime orbital position of 4°W, serves Direct-To-Home and other television platforms in Europe and the Middle East , as well as provides a secure and stable transmission to government agencies. The extensive signal strength and prime location makes the AMOS platform particularly suitable for DBS and DTH operators, as well as a wide range of broadcasters, ISPs, telecommunications operators, and network integrators with Internet, voice, data and digital TV services.

Spacecom's AMOS-3 satellite is scheduled to be launched in 2007 to the 4°W orbital position, where it will offer extended coverage, as well as new capabilities such as Ka-band and steerable beams with global coverage.

Based in Israel, Spacecom is traded on the Tel-Aviv Stock Exchange (TASE) as SCC. Its major shareholders are Eurocom, Aerospace Industries, General Satellite Services Co. (GSSC) and Mer Services Group.

For more information please see http://www.amos-com  spacecom.
 

Corporate Contact

Ms. Donna Tal, Spacecom
Tel: 972-3-755-1000
donnat@amos-spacecom.com

World Media Contact

Josh Shuman, Shuman & Associates
Tel : +1-812-272-2596
joshs@shumanpr.com
 

US Media Contact

Cory Porter, Sage Communications
Tel: +1-703-584-5646
coryp@aboutsage.com