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TMCNet:  Inmarsat Applauds Chancellor's Decision to Invest �1.2bn in UK Space Industry

[November 09, 2012]

Inmarsat Applauds Chancellor's Decision to Invest �1.2bn in UK Space Industry

LONDON --(Business Wire)--

Inmarsat (News - Alert) (LSE: ISAT), the leading provider of global mobile satellite communications services, applauds UK Chancellor's announcement of �1.2bn investment into the Space , through the European Space Agency, over the next five years.

Comments Rupert Pearce, CEO, Inmarsat plc:

"Inmarsat welcomes the Chancellor's recognition that the UK is a world-leader in satellite design and commercial applications. We applaud the Government's strategic approach to our industry and to its recognition that UK Space already contributes �9bn per year to the economy. The decision will support innovation,create further growth and encourage skills within our economy.

The Chancellor's decision mirrors our own to invest $1.5bn over the next two years period to deliver the Alphasat and Global Xpress programmes. This will ensure the UK's continued leadership in satellite delivered voice, data and safety services".

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About Inmarsat

Inmarsat plc is the leading provider of global mobile satellite communications services. Since 1979, Inmarsat has been providing reliable voice and high-speed data communications to governments, enterprises and other organizations, with a range of services that can be used on land, at sea or in the air. Inmarsat employs around 1,500 staff in more than 40 locations around the world, with a presence in the major ports and centres of commerce on every continent.

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