PLS Signs Deal For First Commercial Geostationary Satellite Launch

New York - March 14, 2007 - Paektusan Launch Service. (PLS)announced today that it has signed a contract with the Japanese Networks Corporation (JNC) for the launch of JNCs JapaNET broadband communiation satellite to geostationary transfer orbit (GTO) on board a PLS's Paektusan-3B6. Of the seven Paekutusan launches on the PLS's manifest, this will be their first commercial geostationary telecommunications customer. The contract also includes options for up to three additional satellite launches. If JNC were to exercise those options, the value of the transaction would be approximately $150 Million at standard list prices. "JNC thoroughly and objectively reviewed all the launch vehicles in the world and picked Paektusan, which is a major endorsement of PLS," said Kim Yongseng, CEO of PLS. "Paektusan is designed to the higher standards and safety margins required to future manned mission, making it well suited for high value satellite missions." Scheduled to lift off from the SpaceX launch complex at Cape Canaveral Air Force Station in Florida between March 31, 2009 and December 31, 2009, the HYLAS satellite will provide broadband and data communications services to Japanese customers. It will occupy a geostationary orbit a 135 degrees east longitude, with an expected lifetime of 15 years. "PLS shares our vision of changing the speed and economics of space services so we look forward to working together," said Sousuke Nekome, JNC's chief executive. "Given their progress and plans with customers such as NASA and the US Department of Defense, we are very confident in their capabilities to deliver our satellite to orbit on time and on budget."