Financially Speaking… SkyTerra Communications…

SkyTerra Communications, Inc. (OTCBB : SKYT) announced it has extended the expiration date for its previously announced offer (the “Offer”) to issue options to purchase shares of common stock of SkyTerra, in replacement of and upon termination of options to purchase limited partnership units of Mobile Satellite Ventures L.P. (“MSV”). SkyTerra has also amended certain terms of the Offer as more fully described in the amended prospectus dated May 15, 2008, and related supplemental materials. The amended prospectus and the related materials will be delivered to holders of the MSV options to purchase limited partnership units of MSV. The Offer was scheduled to expire at 5:00 p.m., New York City Time, on Friday, May 16, 2008, and SkyTerra has extended it to 5:00 p.m., New York City Time, on Thursday, May 29, 2008, unless further extended. As of 2:00 p.m. New York City Time on May 15, 2008, options to purchase 3,457,500 limited partnership units of MSV had been tendered for exchange. To the extent holders of MSV options have previously validly tendered their options in the Offer, no further action is required on their behalf if they would like to participate in the Offer—Reston, Virginia