The Company announced that UK-based NTL, Inc., the UK’s leading provider of media solutions to the broadcast industry, and Wit SoundView Group, Inc., an investment banking group focused exclusively on the technology sector, have become founding strategic investors. Terms of the partnerships were not disclosed.

Scheduled for a late 2004 launch, Global Radio will broadcast traditional and innovative radio and data services to motorists, homes and businesses throughout Europe. The innovative satellite service will offer a choice of 60 to 70 all-digital channels, originating regionally and Europe-wide, continuously beaming news, sports and entertainment radio, Internet access and telematics data throughout the region.

Paul Heinerscheid, Global Radio’s chief executive officer, hailed the partnerships and license development as major milestones for his satellite digital radio company: "NTL and Wit Soundview bring solid strategic and business acumen to Global Radio," he says.

"We are also very appreciative of the Government of Luxembourg for its readiness to award Global Radio its concession to operate a satellite system, based on Article 20 of the media law dated 27 July 1991," he adds. Mr. Heinerscheid has been CEO of the emerging satellite-direct entertainment and data communications company since June 2000.

According to the protocol of agreement signed in December 2000, Global Radio is assured the support of the Luxembourg government in co-ordinating frequencies throughout Europe.

"Together, these developments move us closer to meeting the advanced radio and wireless data communications needs of Europeans from one end of the continent to the other," Mr.Heinerscheid says.

Peter Douglas, group managing director of NTL Broadcast and board member of Global Radio, says: "Digital is undoubtedly the way forward for radio, as we have shown by working closely with the UK digital radio groups. Having a Europe-wide satellite platform will benefit the medium enormously, giving radio programmers another powerful means of delivering their output."

"We are extremly excited to be one of the founding strategic investors in Global Radio," says Russ Crabs, president of Wit SoundView. "We believe this innovative satellite service will offer tremendous advantages throughout Europe. Moreover, this is a wonderful relationship for Wit SoundView to build upon as we continue to increase our investment banking presence in Europe," he adds.

NTL Broadcast is the UK's leading provider of media solutions for the broadcast industry. With a network of over 2,000 masts and towers, the company is the sole provider of transmission for ITV, Channel 4 and Channel 5 television, and supports most commercial radio stations in the UK. NTL also uplinks over 140 satellite TV channels and provides global feeds for news, sports and special events.

Wit SoundView Group, Inc. (NASDAQ: WITC) is an investment banking group focused exclusively on the Technology sector. Wit SoundView offers a strong complement of investment banking services, including public offerings and M&A, venture capital, private equity placements and strategic advisory. With one of the largest research teams in the sector, Wit SoundView produces comprehensive sell-side research on approximately 240 technology and Internet companies, developed for online and institutional audiences.

Headquartered in Luxembourg, the Global Radio system will consist of an initial fleet of three operational satellites and a terrestrial network, as well as business and spacecraft operations centers. Consumers will receive Global Radio programming on digitally enhanced vehicle, portable and home radio receivers built by leading OEM and aftermarket radio manufactures, capable of receiving both satellite and terrestrial transmissions. The firm will generate revenue through a combination of subscription fees, sponsorships, advertising revenue and data and telematics services. Listeners from Amsterdam to Athens, Birmingham to Berlin, will be able to receive a choice of 60-70 all-digital channels, originating regionally and Europe-wide. Global Radio will beam news, weather, sports, traffic and business and financial programming, plus a host of exciting new talk and entertainment formats. The service will be integrated with navigation services and mobile phones, and will enable download of Internet content such as MP3m stocks, sports and e-commerce.

For more information, call Global Radio at + 352 2615 11-1.

Link for more info: www.globalradio.lu