Company Press Release:
Israel — Gilat Satellite Networks Ltd. (Nasdaq: GILTF) announced Wednesday that StarBand Communications Inc. has filed a registration statement with the US securities and exchange commission for an initial public offering of common stock lead managed by Merrill Lynch & Co., with Credit Suisse First Boston, Salomon Smith Barney, CIBC World Markets and ING Barings as co-managers. Gilat, through its affiliate, owns approximately 40 percent of StarBand.
StarBand, launching nationwide service in the fourth quarter 2000, is a provider of two-way, always-on high-speed Internet access via satellite to residential and small office/home office customers across the United States.
A registration statement relating to these securities has been filed with the securities and exchange commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy.
Gilat Satellite Networks Ltd., with its global subsidiaries Spacenet Inc., Gilat Europe and Gilat Florida Inc., is a provider of telecommunications solutions based on VSAT satellite network technology.
The Company provides satellite-based, end-to-end enterprise networking and rural telephony solutions to customers across six continents, and markets interactive broadband data services.
The Company is a joint venture partner, with Microsoft Corp., EchoStar Communications Corp. and ING Furman Selz Investments, in StarBand Communications Inc., America’s first consumer, always on, nationwide, two-way, high-speed satellite Internet service provider.
StarBand is based in McLean, Va. SkyBlaster(TM), Skystar Advantage(R), SkyWay(TM), DialAway(R) and FaraWay(TM) are trademarks or registered trademarks of Gilat Satellite Networks Ltd. or its subsidiaries.