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Globecomm Systems Receives One Year Services Contract from a Major United States Enterprise Customer Valued at $1.5 MillionHAUPPAUGE, N.Y. --(Business Wire)-- May 2, 2006 -- Globecomm Systems Inc. (NASDAQ:GCOM), a global provider of end-to-end value-added satellite-based communications solutions, announced today that the Company has received a one year services contract from an existing major U.S. enterprise customer valued at $1.5 million. Pursuant to the agreement, Globecomm's wholly owned subsidiary, Globecomm Network Services Corporation (GNSC), will provide a managed network solution for this customer including life cycle support services (LCSS) for new and existing sites. Recently, Globecomm announced a contract extension with a major financial institution in the U.S. On the heels of that agreement, this contract extension further demonstrates GNSC's ability to attract, retain and expand the networks of major Fortune 50 enterprise companies. This customer tapped GNSC's vast experience in providing VSAT and business continuity services during the recent hurricane season when major network outages at various locations disrupted its ability to conduct business transactions. The ability to provide a vast array of network service capabilities to these types of entities is helping build a reputation in the U.S. enterprise space, which the Company will continue to invest in for the foreseeable future. GNSC's currently provides LCSS to over 5,000 locations across the U.S. The suite of GNSC's LCSS includes, network monitoring, 24X7 help desk and technical support services, equipment installation, maintenance and repair. These services are required to maximize uptime and protect quality of service Ken Miller, Chief Executive Officer of Globecomm Network Services Corporation, said, "Performing Life Cycle Support Services at a high level has allowed us to build a foundation of satisfied Enterprise customers. We are extremely pleased to have extended our relationship with this key client. We feel this relationship will be instrumental in our effort to build next generation IP networks in the Enterprise space." About Globecomm Systems Globecomm Systems Inc. provides end-to-end value-added satellite-based communication solutions by leveraging its core satellite ground segment systems and network capabilities, with satellite communication services capabilities. The solutions Globecomm offers include satellite-based "next generation" networks, militarized commercial off the shelf products and services, voice over Internet Protocol (VoIP), video broadcast, business recovery, satellite-based terrestrial restoral, content delivery and other networks on a global basis. Globecomm's customers include communications service providers, commercial enterprises, Internet Service Providers, content providers and government and government-related entities. Based in Hauppauge, New York, Globecomm Systems also maintains offices in Washington, DC, Hong Kong, the United Kingdom and the United Arab Emirates. Certain of the statements contained in this press release may be deemed forward-looking statements. Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from these statements and matters include risks and other factors detailed, from time to time, in the Company's reports filed with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report for the year ended June 30, 2005 on Form 10-K and its Quarterly Report on Form 10-Q for the quarter ended December 31, 2005, which the Company urges investors to consider. These risks and other factors include, but are not limited to general and political and economic instability in the United States and abroad, including the hostilities in Iraq and Afghanistan. |
