Starsem has once again demonstrated the ability of Soyuz to meet the commercial launch services needs of customers worldwide. Our on-target May 30 mission orbited four satellites for Globalstar and clears the way for another Starsem flight this summer with an additional four spacecraft.

Both missions are extremely important to Globalstar, which was the first operator to utilize Starsem's launch services. These eight new spacecraft will augment Globalstar's current operating constellation, and improve the quality of two-way voice and data service through the launch of its second-generation satellite constellation. Starsem has launched 28 spacecraft to date for Globalstar, and we thank the company for its continued confidence.

Since Starsem's maiden flight in February 1999, we have performed a total of 18 Soyuz missions, successfully lofting small and medium-sized communications satellites, an advanced meteorological platform, as well as scientific and demonstrator spacecraft.

Starsem will continue to demonstrate the versatility of Soyuz with our upcoming flights: in addition to the next Globalstar launch, we also will orbit Canada's Radarsat 2 satellite and Europe's Giove-B navigation spacecraft.

In parallel, preparations are continuing for the introduction of Soyuz at Europe's Spaceport in French Guiana. Construction of the new launch pad is well advanced, and the initial Soyuz vehicles to be operated from French Guiana already are in production.

When Soyuz joins the heavy-lift Ariane 5 and lightweight Vega vehicles at the Spaceport, a new chapter will begin in the operating lifetime of this truly remarkable launcher.

Jean-Yves LE GALL
Starsem Chairman & Chief Executive Officer
June 5, 2007