XTAR Names William R. Schmidt Vice President, Government Services
ROCKVILLE, MD. - May 29, 2007 - XTAR, LLC, a joint venture between Loral Space & Communications (NASDAQ: LORL) and HISDESAT, today announced that it has named William R. Schmidt vice president of government services. Mr. Schmidt will be responsible for the business development, sales, and marketing of XTAR's unique X-band services to the civil and military sectors of the U.S. government, including the Departments of Defense, State and Homeland Security, as well as allied governments. He reports to Dr. Denis Curtin, chief operating officer of XTAR.
Mr. Schmidt is a senior level executive with over 25 years experience leading teams in winning and performing on multi-million dollar domestic and international information technology, defense, aerospace and commercial projects. He joins XTAR from ARTEL Inc., where he served as director, global solutions. As a senior member of ARTEL's management team, he was focused on growing its overseas business and contributing to the implementation of ARTEL's strategic direction.
Prior to joining ARTEL, Mr. Schmidt brought his expertise in management, strategic planning and business development to multiple clients as a principal with Turner Consulting Services. Under his leadership, Turner helped its clients' book over $85 million in new business. Previously, he moved his career into telecommunications, information technology and information security by joining Data Systems Analysts, Inc., as director of business development, federal sector, where he helped double the size of the company's federal business.
After serving three years as a U.S. Army Air Crewman, Bill began his career in aerospace and defense as Manager, Government Training & Operations with the Link Division of Singer, where he held P&L responsibility for multi-million dollar U.S. government contracts. From program management, he moved into business development and marketing for Link, winning many domestic and overseas projects. He continued in positions of increasing management responsibility, working for other large multi-billion dollar multinationals such as Figgie International and Honeywell, where he led the team that won the largest Navy simulator procurement of $153 million.
A graduate of the University of Maryland, Mr. Schmidt holds a BS in market management and operations research. His security clearance is Secret.
XTAR, LLC is a privately owned and operated company selling X-band services to support both U.S. and Allied government users. The high-powered global, fixed and steerable beams on XTAR's two satellite payloads provide essential, flexible, real-time X-band capacity with coverage anywhere from Denver east to Singapore. XTAR's satellites offer "on-the-move" capability for mobile command posts, security and disaster response, as well as small ships and airborne relay sensor data. www.xtarllc.com. The company is a joint venture between Loral Space & Communications, which owns 56 percent, and HISDESAT, which owns 44 percent. For more information, visit XTAR's web site at http://www.xtarllc.com.
Loral Space & Communications is a satellite communications company. Its Space Systems/Loral division is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring and air traffic management. Through its Loral Skynet division, it owns and operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute broadband data, and provide access to Internet services and other value-added communications services. For more information, visit Loral's web site at www.loral.com.
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, Loral Space & Communications Inc. or its representatives have made or may make forward-looking statements, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions. Many of these factors and conditions are described under the caption "Risk Factors" in each of the company's annual report on Form 10-K for the fiscal year ended December 31, 2006 and its quarterly reports on Form 10-Q for subsequent periods. The reader is specifically referred to these documents, as well as the company's other filings with the Securities and Exchange Commission.
Contact: John McCarthy