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March 13, 2000

 JSAT / NTT COMMUNICATIONS MERGE


Japan Satellite Systems Inc. (JSAT) and NTT Communications Corporation (NTT) have reached a formal agreement on NTT's investment in JSAT and the transfer of NTT satellite assets to JSAT. NTT will invest 31.45 billion yen (US$286.4 million) in JSAT. NTT will also transfer its assets, which include satellites (N-STAR a and b) and other equipment worth approximately 31.5 billion yen (US$286.9 million) to JSAT. The investment and transfer of assets is scheduled for completion by the end of March 2000. The soon to be launched satellite, NSat-110 will now be known as JSAT-110.

      

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March 13, 2000

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