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USN to Expand Global Reach and TT&C Service Offerings With Significant Acquisition

Posted on: Wednesday, 20 February 2008, 12:00 CST

NEWPORT BEACH, Ca., Feb. 19 /PRNewswire/ -- Universal Space Network, Inc. (USN), a leading provider of space operations and ground control and communications services, announced today that it has acquired the assets of Honeywell Technology Solutions Inc.'s (HTSI) DataLynx systems, which consists primarily of satellite Telemetry Tracking and Command (TT&C) antennae and related equipment located in Poker Flat, Alaska, as well as related monitor and control equipment at the DataLynx control center in Columbia, Maryland. As part of this transaction, USN also received a contract to provide TT&C services to HTSI for over 20 NASA orbiting satellites. Near Earth LLC, a New York based investment banking firm, acted as advisor to USN on this transaction.

"Today's acquisition marks a major milestone for our company. With the addition of HTSI's DataLynx Alaskan assets and new contracts for NASA missions, USN will become the largest commercial supplier of low earth orbiting satellite TT&C services in the United States," said Joe Rothenberg, USN President and Chief Customer Service Officer. "We look forward to expanding our relationship with NASA and Honeywell in providing mission critical ground station services for these and other future endeavors,"

Tom Ingersoll, USN's Chief Executive Officer, described the impact of today's announcement on the growing space economy by saying, "Although the outsourcing of TT&C operations and services is relatively new within the space industry, the financial and programmatic benefits to customers are already proving to be very significant when projected over the life of a satellite mission. The acquisition we've announced today will only continue this trend and further the drive for effective, cost-saving solutions in space related activities and services." Ingersoll added, "USN is bringing a proven commercial business model to the marketplace that will help lower the cost of space projects and operations. As companies like ours continue to grow and demonstrate reliability and effectiveness, the amount of outsourcing will only increase."

USN's global customer base will immediately benefit from this acquisition, as it brings additional network capacity on-line in the northern latitudes, which will substantially augment the Company's existing communications assets in Alaska, Hawaii and Australia. USN plans to integrate these newly acquired facilities and equipment into its current operations which are managed from control centers in Horsham, PA and Newport Beach, CA. USN's services are currently a critical part of several DoD, NASA and international space missions.

About Universal Space Network

Universal Space Network, Inc. (USN) is a leader in space operations for telemetry, tracking and command (TT&C) services. Offering responsive, reliable and cost-effective solutions to the global space community, USN provides unparalleled coverage through a seamless network of worldwide satellite tracking and communications assets. These assets include those owned by USN and those of our collaborative partners. Together with its partner, Swedish Space Corporation, USN is also part of the PrioraNet global network. The company has offices in Newport Beach, CA., and Horsham, PA. For more information, please visit http://www.uspacenetwork.com/.

About Near Earth LLC

Near Earth is a specialized investment bank that brings the highest quality senior level attention to companies in the greater commercial satellite/space, telecom, media, entertainment, and technology industries. Near Earth provides a full range of capital raising, advisory and consulting services to companies and their Boards. Near Earth also provides financial advisory services, valuation, structuring, and due diligence support to private equity, hedge and distressed debt funds. For more information please visit http://www.nearearthllc.com/.

Universal Space Network, Inc.

CONTACT: Tyler Beardsley of JANSON Communications for Universal SpaceNetwork, Inc., +1-703-393-9500

Web site: http://www.nearearthllc.com/http://www.uspacenetwork.com/

Source: PRNewswire

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