Welcome to the Globalstar earnings conference call. (Operator Instructions) I would now like to turn the call over to Dean Hirasawa, Director of Public and Investor Relations.

Thank you for joining us for today’s conference call to discuss the results for Globalstar, Inc. for the quarter and six months ended June 30, 2008. Before we begin please note the following. This call may contain forward-looking statements within the meaning of Federal securities law. Factors that could cause results to differ materially are described in the Safe Harbor section of today’s press release and in Globalstar’s SEC filings including the quarterly report on Form 10-Q for the three months ended June 30, 2008 which will be filed later today. Both the press release and this conference call include discussions of certain non-GAAP financial measures as defined under SEC rules. We have provided a reconciliation of each of those non-GAAP measures to the most comparable GAAP measure in the press release. Please note that the information in this call is accurate only as of the date of this live teleconference which is Monday, August 11, 2008. Today’s press release containing certain financial information is available on the company website at www.Globalstar.com. Later this afternoon an audio recording of this conference call will be available via telephone dial in and a web cast recording will also be made available on the company’s website. Presenting today will be Jay Monroe, Chairman and CEO of Globalstar, Inc.; Fuad Ahmad, Senior Vice President and CFO; and Tony Navarra, President of Global Operations. Also joining the call today is Thomas Colby, Chief Operating Officer of Globalstar. All four gentlemen will be available following the prepared remarks to take questions as time allows. At this time I would like to turn the call over to Mr. Monroe.

Thank you all for joining today for Globalstar’s quarterly earnings call. There is now less than one year to go before we take delivery of our first second generation satellites and as a result we have been extremely busy here at Globalstar. There’s a lot of material to cover so let’s begin. Before discussing the four areas of the business which we update quarterly let me mention where Globalstar sits within the now rapidly changing wireless telecomm state and what that means for our satellite business. As everyone knows the global market or wireless voice and data services is growing rapidly. Today roughly 3 billion of 6 billion people in the world have mobile phones or mobile data devices and last year there were 700 million sold compared to only 200 million computers. What we’re living through is a computing shift from the desktop to the mobile device as mobile phones become ever more capable. As many emerging markets once skipped over land line phones altogether and went straight to wireless because the wireless infrastructure was so much less expensive so fast sections of the world today are beginning to skip the computer altogether and go straight to less expensive mobile computing devices. So called smart phones are growing at approximately 100% per year as evidenced by the extraordinary success of the iPhone and the Blackberry which are basically just small computers. Everywhere productivity and rise in GDP are directly linked to the availability of good communications and the availability of reliable data systems. Nowhere is this more true than in emerging and remote markets. For people outside of terresterialist wireless range all of these services can now go over Globalstar’s network in part because the consumer devices can shortly be manufactured cheaply enough to economically address markets such as…

Let me begin by stating that our aggressive focus on subscriber retention, the growth of our Simplex business and sequentially stable revenues remained firmly on track. We ended the second quarter of 2008 with 315,911 total customers in our system an increase of 22,652 from March 31, 2008 and 31,785 from December 31, 2007. For the three months ended June 30, 2008 we had $16.7 million of service revenue and $16 million of adjusted service revenue compared to $16 million and $16.9 million respectively for the first quarter of 2008. Year-to-date service revenue and adjusted service revenue were $132.7 million and $32.9 million respectively. For the three months ended June 30, 2008 equipment sales revenue was $6.3 million compared to $6.1 million for the first quarter of 2008. Year-to-date equipment revenue sales was $12.5 million. Total operating expenses for the quarter ended June 30, 2008 were $35.1 million compared to $33.7 million for the first quarter of 2008. Net growth in operating expenses was due primarily to an increase of $1.1 million in the cost of services related to the acquisition of our independent gateway operator in Brazil, higher second generation research and development costs as well as increased depreciation and amortization expenses of $1.1 million. These cost increases were partially offset by lower costs of subscriber equipment and decreased MG&A expense. Operating expenses for the six months ended June 30, 2008 were $68.8 million. For the quarter ended June 30, 2008 we recorded an adjusted EBITDA loss of $2 million compared to an adjusted EBITDA loss of $1.5 million for the first quarter of 2008. This slight decline in adjusted EBITDA is related to certain second generation research and development expenses and our aggressive and successful SPOT rollout program. Adjusted EBITDA loss for the six months ended June 30th was $3.5 million. We reported retail ARPU of $38.57 and adjusted retail RPU of $6.63 or the quarter ended June 3, 2008. This compared to $38.14 and $40.28 respectively for the first quarter of 2008. Year-to-date retail RPU and adjusted retail RPU was $38.36 and $38.45 respectively. Moreover our retail monthly insurance for the first six months of 2008 was 1.5%. Cash capital expenditures for the construction of our second generation system were approximately $128 million for the first six months of 2008. Finally we ended the second quarter of 2008 with available liquidity of approximately $179.6 million. With that I’ll turn it over to Tony.

Globalstar’s constellation of 48 operational satellites continues to provide service with operating parameters designed to maximize the quality of service to our worldwide subscribers. Our Simplex and SPOT satellite messenger customers continue to receive a greater than 98% messaging reliability and no interruption or degradation in service. We continue to move toward the launch of our second generation satellites and the expected return to the standard robust levels of two-way voice and data services. These services are currently being optimized for subscribers through the use of the OSAT tool which continues to provide our customers with a 95% connectivity probability. We’re pleased to announce that we have recently completed upgrades to the OSAT increasing both its functionality and ease of use. We hear from our customers that our duplex voice and data service availability has improved with the addition of eight new first generation satellites launched in May and October of last year and our own tests confirm that service reliability is greater. As predicted the last of these eight first generation satellites became fully operational in June. As Jay indicated earlier Thales Alenia Space has made significant progress in designing and constructing our second generation satellites. Four years after beginning our second generation discussions Thales has now commenced sub-system assembly, integration and test of our initial production satellites. Thales Alenia Space and Globalstar are very excited about this new phase or next phase of our satellite production and therefore we are pleased to announce we will be holding an event for investors and the press at the Thales facility in Cannes, France on August 26th. This event is significant to Globalstar as it exhibits important and concrete results of the progress of our satellite and constellation replacement strategy and effort. We are doing what we said we would do…

As Tony recently reminded a member of the press, Globalstar has a current and contracted future ground segment, we have a current and a second generation space segment and we have the world’s largest existing MSS voice and data customer base. We expect both our customer base and our revenues to grow dramatically once our new satellites are operational and the new ground infrastructure is rolled out. As you know, every company has to replace its satellites sometimes, it’s just the nature of space craft. Unfortunately for us, some of our capabilities declined before our new constellation was ready for launch. However, once of our largest MSS competitors does not expect its new constellation to be fully operational until 2016. Therefore, we will have the field for truly advanced mobile satellite services to ourselves for roughly seven years, assuming they eventually find a way to raise the $2.7 billion of necessary funding they indicate is required. If they should fail to do this, in time, they may experience the same challenges that we have endured. If they are late in deploying the second generation, we will have a longer period without serious competition. In either case, we expect to aggressively market cost effective high value products and services and fully reassume those competitive advantages that helped us establish our leadership position in this industry. In closing, I’d like to elaborate on something I touched upon earlier. Since January of this year when SPOT was highlighted at CES, the product as garnered awards and accolades from both media and users alike. Since that time, we have shipped or have commitments to ship more than 70,000 units and have established over 5,000 points of retail distribution. SPOT has been featured on countless blogs and on numerous media including The Wall Street Journal…

That concludes the prepared portion of the presentation. We will now take an opportunity to answer some questions.

I show no questions in queue at this time.

With that, we will bring the conference call to an end. Thank you again for joining us and please be reminded that later this afternoon and audio recording of this conference call will become available by a telephone dial in and a webcast recording will also be available on the Globalstar website. Thank you and good afternoon.