Speedus Announces Globalstar Offer

Speedus Announces Globalstar Offer 


NEW YORK, Nov. 14  /PRNewswire-FirstCall/ -- Speedus Corp.  today announced that
it has made a proposal to acquire all of the assets and operations of
Globalstar. Terms are confidential because of the competitive nature of the
bankruptcy sale process.

Globalstar is a leading provider of global mobile satellite telecommunications
services, offering both voice and data services from virtually anywhere in over
100 countries around the world.

On February 15, 2002, Globalstar and certain of its subsidiaries filed voluntary
petitions under Chapter 11 of the Bankruptcy Code. Globalstar and its debtor
subsidiaries remain in possession of their assets and properties and continue to
operate their businesses as debtors-in-possession.

In the event that the proposal by Speedus Corp. is accepted, the closing of the
transaction would be subject to a number of conditions, including FCC and
Bankruptcy Court approval, and there is no assurance that the transaction would
close.

Additional information on Speedus Corp. and its services is available at
http://www.speedus.com/ or by calling 718.567.4300.

Statements contained herein that are not historical facts, including but not
limited to statements about the Company's product, corporate identity and focus,
may be forward-looking statements that are subject to a variety of risks and
uncertainties. There are a number of important factors that could cause actual
results to differ materially from those expressed in any forward- looking
statements made by the Company, including, but not limited to, the continuing
development of the Company's sales, marketing and support efforts. 

DATASOURCE: Speedus Corp.



CONTACT:  Thomas M. Finn of Speedus Corp., [phone],





Web site:  http://www.speedus.com/ 

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