SPACECOM RECOVERY PROGRAM INCLUDES REGAINING FUNDS AND BRINGING SATELLITE TO REPLACE AMOS-6

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SPACECOM RECOVERY PROGRAM INCLUDES REGAINING FUNDS AND BRINGING SATELLITE TO REPLACE AMOS-6 06.09.2016 Tel Aviv, 5 September 2016: Spacecom announced today that it is developing a plan of action following the loss of the AMOS-6 communication satellite due to the explosion of SpaceX's Falcon 9 rocket on the launch pad. The company has begun measures to recover funds invested in the project.

The company's management is reviewing the situation following the loss of AMOS-6 which occurred while SpaceX's Falcon 9 rocket suddenly exploded on the launch pad at 09:07 U.S. EST on Thursday, September 1, 2016.

David Pollack, Spacecom CEO and president, stated, Spacecom has crafted a plan of action which represents the foundation upon which we shall recover from AMOS-6's loss. Our program includes, among other measures, exploring the possibility of procuring and launching a replacement satellite. Working quickly and efficiently, management is engaging with current and potential partners to move forward.

Pollack continued, Spacecom will serve all of its current and future financial commitments.

Some of Spacecom's current Ku-band clients on AMOS-2 that were to be relocated to AMOS-6 will be relocated to AMOS-3. For others, the company is planning to help find capacity on other satellites or possibly on a satellite that will be relocated, either permanently or temporarily, to the 4 West orbital position.

A condition of Spacecom's merger with companies from the Beijing Xinwei Group announced on September 24, 2016 was the AMOS-6's successful launch and completion of in orbit testing. Spacecom has updated Xinwei regarding the loss of the satellite and together the parties shall explore possibilities to amend the current agreement to reflect the new situation.

About Spacecom:

Spacecom (Space-Communication Ltd.), operator of the AMOS-2 and AMOS-3 satellites co-located at 4 W, and AMOS-4 at 65 E, provides high-quality broadcast and communication services to Europe, the Middle East, Africa, and Asia via direct-to-home (DTH) and direct broadcast satellite (DBS) operators, Internet service providers (ISPs), telecom operators, network integrators and government agencies.

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

CONTACTS:

World Media:

Josh Shuman, S&A Communications

+972-54-498-5833

[email protected]

US Media:

Jennifer Hoil, Sage Communications

+1-703-533-1863

[email protected]

LINK:	http://amos-spacecom.com/press/spacecom-recovery-program-includes-rega...
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