StarBand Exits Bankruptcy

Starband
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• Court OKs StarBand's Bankruptcy Exit
• Files to emerge from bankrtupcy

November 14, 2003
After 18 months in bankruptcy time-out, StarBand is getting back into the game. The high-speed satellite Internet service provider says it has been cleared by the U.S. Bankruptcy Court in Delaware to emerge from Chapter 11.

StarBand, which filed for bankruptcy protection in May 2002 following a major dispute with one of its key partners, can now begin to implement its reorganization plan. The company plans to officially emerge by the end of this month.

Zur Feldman, the chairman and CEO of StarBand said that over the past 18 months his company has launched several new products, opened new sales channels and improved its overall operating efficiencies. He called the company "wiser, stronger and ready to grow."

StarBand's finances have improved with the conversion of approximately $113 million of bank debt to equity.

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