December 21,2004 

Antrix Corporation Limited, the commercial arm of ISRO, and MEASAT Global Bhd (BLOOM:MGB MK), ("MEASAT") signed an agreement to form a Joint Venture Company ("JV Co") to pool their satellite capabilities, in a major move to develop a satellite neighbourhood for millions of broadcasting and telecommunications customers across the wider Asia Pacific region. The Prime Minister, Dr Manmohan Singh and Malaysian Prime Minister, YAB Dato' Seri Abdullah Ahmad Badwai, witnessed the exchange of the landmark agreement between Antrix and MEASAT last evening (December 20, 2004) at New Delhi.

The Joint Venture, which will be equally owned by the two companies, represents a significant breakthrough and major step in the ongoing cooperation between the Indian and Malaysian satellite sectors. The JV Co will leverage capacity from both the high powered Indian and Malaysian, MEASAT, satellite fleets to provide commercial satellite services across the wider Asia-Pacific region.

"We have been working closely with MEASAT across a number of areas over the last few years, including the provision of its satellite" said Mr K R Sridhara Murthi, Executive Director, Antrix. "We are excited to be able to extend our cooperation through this joint venture, and position INSAT to be a leading satellite system serving the wider Asia-Pacific market".

By pooling agreed capacity from these neighbouring satellites in the strategically located orbital slots of 93.5 degree East longitude and 91.5 degree East longitude, the JV Co will be able to provide C-band satellite services to over 70 percent of the world's population, and Direct-to-Home (DTH) quality Ku-band satellite services to over 160 million TV households across South Asia, Malaysia, Indonesia and Indo-China.

The JV will leverage the MEASAT Teleport and Broadcast Center for the provision of leading edge satellite services, and explore feasibility of the development of a worldclass customer teleport in India.

As part of the ongoing cooperation between the two organisations, MEASAT has also signed a Letter of Intent with Antrix to procure a new satellite, MEASAT-4 from ISRO. The satellite will provide additional Ku-band capacity for the MEASAT fleet, as well as the opportunity for the Indian and Malaysian space communities to work together.

Detailed discussions on technical and commercial issues are at an advanced stage, with the satellite expected to be procured for scheduled launch Q1 2007.

"We have used Indian space technology and expertise on the MEASAT-1 and MEASAT-3 programs", said Y Bhg Tun Haji Mohammed Hanif Omar, Director, MEASAT Satellite Systems Sdn Bhd. (formerly known as Binariang Satellite Systems Sdn. Bhd.). "We are pleased to be able to work with ISRO/Antrix on a new satellite which will further our joint interests across the region," Tun Hanif concluded.

About ANTRIX

Antrix Corporation, the premier space marketing company of India, offering state-of-the-art products and services developed by Indian Space Research Organisation across global markets. In this role, Antrix markets satellite capacity from India's INSAT fleet of satellites which, with eight geostationary satellites, represents one of the largest domestic communication satellite systems in the region; and image data and services from Indian Remote Sensing Satellite constellation, which is supported by a network of twenty international ground stations.

In addition to satellite services, Antrix also offers cost effective commercial communications spacecraft, based on INSAT and GSAT platforms developed by ISRO; and, launch services. To date, ISRO has launched four commercial satellites, with contracts for three more over the next two years secured. For more information visit www.antrix.org

About MEASAT