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NTT DoCoMo to Transfer Satellite Assets to JSAT and Acquire JSAT Common Stock

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TOKYO, JAPAN, July 31, 2003 ---JSAT Corporation and NTT DoCoMo, Inc. today reached an agreement on the transfer of NTT DoCoMo's interest in two jointly owned communications satellites—N-STARa and N-STARb—to JSAT. Pursuant to the agreement, NTT DoCoMo will hereafter lease the two satellites from JSAT to continue providing its proprietary satellite mobile communications service. The agreement will also see NTT DoCoMo acquire a strategic equity interest in JSAT to continue to ensure the provision of reliable service.

JSAT presently owns and operates eight communications satellites, offering communications and broadcasting services for both domestic and international markets. NTT DoCoMo holds an interest in two of those satellites,
N-STARa and N-STARb, which it uses to provide the WideStar service.

The agreement will enable JSAT and NTT DoCoMo offer even more reliable services, and presents the opportunity for the two companies to actively explore new avenues of collaboration in the satellite mobile communications business.

The details of the agreement are as follows.

Transfer of Satellite Assets

  1. Date of Transfer
    August 1, 2003 (planned)
  2. Details of Transfer
    NTT DoCoMo will transfer its interest in communications satellites
    N-STARa and N-STARb to JSAT. (Mobile Satellite Service (MSS) mission: S-band*, C-band*)
  3. Value of Assets to be Transferred
    Approx. 3.3 billion

*S-band: 2.6GHz/2.5GHz frequency band suitable for mobile communications,
C-band: 6GHz/4GHz frequency band

Acquisition of Shares

  1. No. of Shares to be Acquired
    NTT DoCoMo will acquire 4,749 shares of JSAT 's common stock. (Approx. 1.24% of total number of shares issued and outstanding; total paid-in capital: approx. 1.7 billion)
  2. Method of Share Acquisition
    NTT DoCoMo will acquire JSAT-held treasury stock.
  3. Date of Acquisition
    August 20, 2003 (planned)

Reference

  1. Profiles of the Two Companies
    Name JSAT Corporation NTT DoCoMo, Inc.
    Head Office 1-11-1 Marunouchi,
    Chiyoda-ku, Tokyo,
    Japan    		 2-11-1 Nagata-cho,
    Chiyoda-ku, Tokyo,
    Japan
    President President and CEO
    Kiyoshi Isozaki    		 President and CEO
    Keiji Tachikawa
    Capital 53,769 million 949,679 million
  2. Present Ownership of N-STARa and N-STARb
      JSAT NTT DoCoMo
    N-STARa 70% 30%
    N-STARb 70% 30%

About JSAT
JSAT Corporation is a leading satellite operator in the Asia Pacific region. The company owns and operates eight satellites in seven orbital slots. JSAT provides communications and broadcasting services that offer a variety of solutions to a wide range of customers. Based on its corporate slogan, "JSAT, Expanding Horizons," the company is actively expanding its operation internationally and cultivating new customer sectors. JSAT is listed on the First Section of the Tokyo Stock Exchange. For more information, visit www.jsat.net.
About NTT DoCoMo
NTT DoCoMo is the world's leading mobile communications company with more than 46 million customers. The company provides a wide variety of leading-edge mobile multimedia services. These include , the world's most popular mobile internet service, which provides e-mail and internet access to over 39 million subscribers, and , launched in 2001 as the world's first 3G mobile service based on W-CDMA. In addition to wholly owned subsidiaries in Europe and North and South America, the company is expanding its global reach through strategic alliances with mobile and multimedia service providers in the Asia-Pacific, Europe and North and South America.
NTT DoCoMo is listed on the Tokyo (9437), London (NDCM), and New York (DCM) stock exchanges. For more information, visit www.docomo.ne.jp/english

i-mode and FOMA are trademarks or registered trademarks of NTT DoCoMo, Inc. in Japan and other countries.
WideStar is a registered trademark of NTT DoCoMo, Inc. in Japan.

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