AVN.L Regulatory News (AVN)

10 Sep 2007 07:01

Avanti Communications Group Plc10 September 2007 Date: 10 September 2007On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")Embargoed until: 0700hrs Avanti Communications Group plc• Secures satellite launch services Avanti Communications Group plc (AIM: AVN), the satellite operator, is pleasedto announce it has signed a contract to purchase launch services for the launchof its first satellite, HYLAS, on schedule and within budget from SpaceExploration Technologies Corporation, USA ("SpaceX"). A launch window enabling the satellite to be launched between March and December2009 has been booked. The satellite will be launched from the SpaceX launchfacility on the US Air Force Range at Cape Canaveral, Florida. Avanti has alsosecured options for further launches. Avanti's Chief Executive, David Williams, said: "I am pleased to report the completion of another significant project milestone.The SpaceX Falcon 9 launch vehicles that we will use are also planned for use totransport US astronauts to the International Space Station, so for us to securea service of this quality within the budget is pleasing. SpaceX share ourvision of changing the speed and economics of space services so we look forwardto working together." - ends - Enquiries to: Avanti Communications Group plc http://www.avanti-communications.com/David Williams 020 7749 1600 Redleaf Communications Ltd http://www.redleafpr.com/Emma Kane/Samantha Robbins/Adam Leviton 020 7822 0200 sr@redleafpr.com Notes to Editors: About Avanti Communications - Avanti Communications Group's shares were admitted to AIM on 16 April 2007; - Avanti Communications Group is the only licensed fixed satellite operator headquartered in the UK (and one of only eight such groups operating in Europe); - Avanti has the right to provide satellite services using licensed radio frequency spectrum which provides coverage of Europe, India, The Middle East, Central Asia, Africa and Latin America. - Avanti's first satellite, called HYLAS is under construction and due for launch in 2009; the company plans further satellite projects. - Avanti, which has over 10 years' experience in the satellite industry, currently provides satellite data communications services to customers in Europe using leased satellite capacity which it will transfer to HYLAS on launch; - Its customers include broadband service providers, businesses of all sizes, the British and foreign governments, the European Union and the European Space Agency; - The core applications for which Avanti expects HYLAS capacity to be used are broadband, corporate data networks, video distribution and military/ security. - Avanti recently signed a debt facility agreement to borrow £32m. The debt facility provides sufficient capital for Avanti to complete the financing of its satellite construction, launch, insurance and operation together with working capital. No further funding is expected to be required for the HYLAS project; About Space Exploration Corporation Inc ("SpaceX") SpaceX is developing a family of launch vehicles intended to reduce the cost andincrease the reliability of both manned and unmanned space transportationultimately by a factor of ten. With its Falcon line of launch vehicles, SpaceXis able to offer light, medium and heavy lift capabilities, as well as deliverspacecraft into any inclination and altitude, from low Earth orbit togeosynchronous orbit to planetary missions. The Dragon spaceship is designedto transport up to seven astronauts, as well as both pressurised andunpressurised cargo to Earth orbit and back. This information is provided by RNS The company news service from the London Stock Exchange