ProtoStar Secures Funding for DTH Project in Asia; Appoints Former Hughes Executive as Chairman

SAN FRANCISCO, September 25, 2006/Satnews Daily/ — ProtoStar Ltd. has announced it has received a commitment for a $40 million financing for its project to provide a satellite network for direct-to-home  (DTH) providers in Asia.

ProtoStar also appointed current director Steven D. Dorfman as chairman of the board of directors and announced that VantagePoint Venture Partners’ managing director Duncan Davidson, has joined the company’s board.  Dorfman, formerly vice chairman of Hughes Electronics, is recognized as a leader and visionary in the satellite telecommunications industry.

ProtoStar is developing a satellite constellation of high-powered geostationary satellites that will provide a satellite network serving DTH service providers in Asia. The company’s initial plan is to create a three-satellite constellation with coverage of South Asia, Southeast Asia and China, an area containing more than three billion people. ProtoStar said it expects to complete construction and launch its first satellite, ProtoStar I, in the first quarter of 2008. ProtoStar I is a Space Systems/Loral manufactured 1300, a satellite utilized by many of today’s DTH operators.

ProtoStar said VantagePoint Venture Partners of San Bruno, California led the round of funding with participation from existing equity investors, New Enterprise Associates (NEA) and RedShift Ventures.

Philip Father, ProtoStar’s CEO, said the new funding and Dorfman’s expanded role as chairman will accelerate the company’s plans to provide customers with high powered, large block capacity in support of their DTH operations.

John Higginbotham, ProtoStar’s outgoing chairman, will remain on the board as an independent director. Commenting on his successor, he said he is delighted that Dorfman has agreed to take on the chairmanship as ProtoStar evolves from its development stage into a fully operational satellite provider. 

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