Acquisition Is Finally An Acquired Taste for CIP Canada

Stratos Global Corporation [TSX:SGB] announced CIP Canada Investment, Inc. has acquired beneficial ownership of all of the issued and outstanding common shares of Stratos through a Plan of Arrangement under the Canada Business Corporations Act, for a cash purchase price of C$7.00 per share. The total transaction value, including the assumption of debt, is US$636 million. CIP Canada is a wholly-owned subsidiary of Communications Investment Partners Limited (“CIP”), a professional investment company with a focus on satellite services. The transaction was indirectly financed by Inmarsat Finance III Limited, a wholly-owned subsidiary of Inmarsat plc. Additional funds remain available from Inmarsat Finance III to support CIP Canada’s funding of a tender offer for Stratos’ outstanding bonds that is required as a result of the acquisition. Inmarsat Finance III will have a call option exercisable beginning on or, in certain circumstances, before April 2009, and expiring in December 2010, to acquire 100 percent of CIP Canada. Until the call option becomes exercisable, Robert M. Franklin, an independent Canadian resident trustee, will hold legal title to the Stratos shares and exercise sole voting control over Stratos—Bethesda, Maryland