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MDA announces On-Orbit Satellite Servicing business formation and contract awards for spacecraft and first life extension customer-New venture to be called Space Infrastructure Services (SIS) - SSL selected to provide first advanced satellite servicing spacecraft - SES, a world leading satellite-enabled solutions provider, contracts for first refueling mission SAN FRANCISCO, June 28, 2017 /CNW/ - SSL MDA Holdings Inc., a global communications and information company, today announced important milestones in its progress to bring transformational on-orbit satellite servicing to market. Space Infrastructure Services LLC (SIS), a new U.S. company, will commercialize sophisticated satellite servicing capabilities, including refueling. SIS will be majority owned by Finance Technology Leverage LLC (FTL), a global investment company headquartered in Silicon Valley, along with other U.S. investors, with SSL MDA Holdings maintaining a minority ownership share. Full financing for the venture is expected to conclude in the coming weeks. "This new venture is designed to provide satellite operators with more options in fleet management," noted Howard L. Lance, President and CEO of SSL MDA Holdings. "Both commercial and government satellite operators are looking for flexibility in managing capital expenditures and better ways to incorporate resiliency into their fleets. By combining our world-class capabilities in satellite manufacturing and robotics together, SSL MDA is uniquely positioned to enable this next-generation capability." On-orbit satellite servicing will provide operators with the ability to enhance the existing use of space assets through life extension, inspection, and repair. In addition, satellite servicing provides a capability to perform partial assembly in orbit, either augmenting existing satellites, replacing elements from modular satellites or constructing larger satellites freed from the mass and size constraints of launch. Spacecraft Manufacturing Contract "FTL is committed to advancing space-related industries by supporting key technologies and markets," said Ray Conley, Managing Partner of FTL. "On-orbit refueling and repairing of spacecraft is a critical step in humanity's march toward a vibrant and exciting frontier. We believe that SSL has assembled the world's premier team to make SIS the leaders in this vital new arena." First Commercial Customer "Satellite servicing on orbit will be essential to next-generation architectures for communications satellites," said Martin Halliwell, Chief Technology Officer of SES. "We are pleased to be working on a refueling mission that may enable us to get more value out of atellites already on orbit. Refueling will be relatively quick and we will be able to maintain control of our spacecraft at all times." Once orbital demonstrations under the RSGS program are complete, SIS will receive the satellite servicing vehicle to operate throughout its lifetime. Steve Oldham, Senior Vice President Business Development with SSL MDA, is responsible for the SIS business. About SES About FTL About MDA MDA's business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development. MDA's established global customer base is served by more than 4,800 employees operating from 15 locations in the United States, Canada, and internationally. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA. About SSL MDA Holdings About SSL Related Websites www.mdacorporation.com Forward-Looking Statements This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the strategic business venture entered into between MDA and its business partner. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include, but are not limited to, certain contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include, but are not limited to: risks associated with executing the parties strategy and plans for securing future commercial customers; the introduction of competing technologies; unexpected technical or marketing difficulties; unexpected deterioration of economic and financial conditions; the imposition of budgetary constraints or deferment of funding for programs in which the Company or its customers participate; risks associated with satellite manufacturing, including competition, cyclicality of end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of factory and personnel; certain customers are highly leveraged and may not fulfil their contractual payment obligations, including vendor financing; risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; risk associated with financial factors such as volatility in exchange rates, increases in interest rates and restrictions on access to capital; failure of third parties and subcontractors; failure of systems to meet performance requirements; failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards, or failure to maintain technological advances and offer new products to retain customers and market position; and other risks including litigation. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Except as required by law, MDA disclaims any obligation or undertaking to update or revise the information herein. For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online under the Company's profile at www.sedar.com or on the Company's website at www.mdacorporation.com. The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release. Contact Wendy Lewis | SSL Media Contact | 1-650-852-5188 | [email protected] Wendy Keyzer | MDA Media Contact | 1-604-231-2743 | [email protected] Marissa Poratto | MDA Investor Relations | 1-604-331-2044 | [email protected] SOURCE MacDonald, Dettwiler and Associates Ltd. |