Financial Problems at Sea Launch

Sea Launch Files Chapter 11 to Address Financial Challenges
“Sea Launch Company L.L.C. and Sea Launch Limited Partnership and subsidiaries (“Sea Launch” or “Company”), a leading provider of launch services to the commercial satellite industry, has filed voluntary petitions to reorganize under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware in Wilmington. The members of Sea Launch have unanimously determined that Chapter 11 reorganization is in the best interests of the Company, its customers, shareholders, employees and other related parties.”