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Sea Launch Re-Negotiates Contract with Intelsat

LONG BEACH, Ca., Jan. 21, 2003 - Sea Launch Company, LLC, has 
negotiated an agreement with Intelsat to reassign an earlier launch 
contract to a future payload requirement.

Following a decision last November to terminate the Intelsat 10-01 
mission, and a more recent decision to launch the Intelsat 10-02 
payload on a Proton vehicle, Intelsat elected to negotiate with Sea 
Launch for a firm future launch service. The original contract, signed 
Dec. 12, 2001, called for a Sea Launch Zenit-3SL rocket to place an 
Intelsat spacecraft into geosynchronous transfer orbit in 2003.

"We are delighted that we have been successful in negotiating a 
continuation of this contract," said Ramu Potarazu, president of 
Intelsat Global Service Corporation, in signing the new agreement. 
"Sea Launch is one of the world's leading launch service providers and 
we would not want to lose an opportunity to fly with them. We are now 
looking forward to our future mission on Sea Launch."

The Sea Launch team had progressed well into its mission planning on 
the Intelsat 10-01 launch, when Intelsat determined it would assign 
the remaining payload to the Proton vehicle. While disappointed with 
the outcome of the decision, the team will now work toward this next 
assignment.

"Our experience in working with Sea Launch has been nothing but 
exemplary," said Terry Edwards, director of Intelsat's Launch Vehicle 
Program Office.  "They invested considerable work in the mission 
integration phase for the Intelsat 10 mission and, in fact, exceeded 
our expectations."

Sea Launch President, Jim Maser, noted that the new contract "reflects 
the strong relationship already established between Sea Launch and 
Intelsat and reiterates Intelsat's confidence in Sea Launch's growing 
record of reliability and accuracy. As I stated earlier when we first 
announced our agreement to launch an Intelsat payload, our mission 
managers and launch team are well prepared to meet all the needs of 
our highly experienced custo mer."

Sea Launch Company, LLC, based in Long Beach, Calif., and sold 
commercially through Boeing Launch Services (www.boeing.com/launch), 
provides reliable, cost-effective, heavy lift launch services for 
commercial satellite customers. The Sea Launch partners include 
Boeing, RSC Energia, SDO Yuzhnoye/PO Yuzhmash and the Kvaerner Group. 
Established in 1995, Sea Launch has a current backlog of 17 firm 
launch contracts, including a manifest for five missions in 2003. As 
the world's only services provider launching from the Equator, Sea 
Launch offers the optimal starting point for spacecraft heading to 
Geostationary Orbit. For additional information, visit the Sea Launch 
web site at: www.sea-launch.com

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Contact:
Paula Korn
562 254-5684
daniel.c.beck{at}boeing.com

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