SkyTerra Increases Further Ownership of MSV

NEW YORK, Oct. 10, 2006/Satnews Daily/ — SkyTerra Communications, Inc. (OTCBB: SKYT) said on Monday it has executed a definitive agreement with BCE, Inc. to acquire BCE’s stake in Mobile Satellite Ventures LP (MSV).

SkyTerra said it will issue approximately 21.4 million shares of its non-voting common stock to BCE in exchange for approximately 7.6 million limited partnership interests in MSV and the corresponding shares in the corporate general partner, reflecting the same exchange ratio used in the recent transactions with MSV’s other partners.

SkyTerra said that with the completion of the transaction, which is expected to occur no later than January 5, 2007, SkyTerra will own all of the outstanding common stock of MSV’s general partner and approximately 83 percent of the outstanding limited partnership interests of MSV, prior to dilution for management options.

SkyTerra said its ownership will increase to 100 percent of the limited partnership interests of MSV, prior to dilution for management options, upon completion of the remaining exchanges under the existing agreement with the Motient Corporation.

Jeffrey A. Leddy, CEO and president of SkyTerra, said that with the transaction, the ownership and control structure of MSV will be simplified, adding this will further enhance MSV’s ability to pursue strategic opportunities and relationships.

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