ORBCOMM completes sale; company will continue operations under new ownership

International Licensees, a consortium of ORBCOMM licensees and other investors, was established by Gene Song and Don Franco. Mr. Song is Chairman of ORBCOMM Asia Ltd. and Korea ORBCOMM Ltd., with experience in the securities and venture capital markets. Mr. Franco is Chairman of SATCOMM International Group Ltd., a major shareholder in ORBCOMM’s European licensee, and has spent his entire career in communications and media ventures.

NEW YORK, April 26, 2001 — Consolidated Edison Company of New York, Inc. (Con Edison) said it will invest $2.4 billion over the next five years to upgrade its electric delivery system, which serves New York City and Westchester County.

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