TSTR Stock Advances 29% on Financing.

M2 PRESSWIRE-8 February 2008-Emerging Stock Report: TSTR Stock Advances 29% on Financing(C)1994-2008 M2 COMMUNICATIONS LTD

RDATE:08022008

Communications Sector- TerreStar Corporation (NASDAQ:TSTR) and its subsidiary TerreStar Networks Inc., which is building the nation's first integrated mobile satellite-terrestrial (MSS/ATC) communications network, announced that EchoStar Corporation, Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund LP and other investors have entered into a series of separate agreements constituting a commitment of $300 million in investments in TerreStar - with $200 million made available today at closing and the balance dedicated to funding the TerreStar-2 satellite.

This financing will be used in part to fund the completion and launching of TerreStar-1. Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications, the manufacturer of TerreStar-1 today reported that "the main body is 100 percent complete; reference performance testing is underway; and TS-1 is scheduled to enter TVAC [Thermal Vacuum testing] on February 16, 2008.

The worldwide telecommunications markets are set for extraordinary growth, doubling from $123 billion in 2004 to $282 billion by 2010. Source- http://www.researchandmarkets.com/reports/296317/worldwide_telecommunications_and_communications

In early morning trading the Company is up 29% to $5.83 on volume of over 1,829,570.

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