Globalstar (GSAT) to Delist from Nasdaq Stock Market

Globalstar, Inc. (NASDAQ: GSAT) received notice from the Listing Qualifications Department of the NASDAQ Stock Market (NASDAQ) that Globalstar's common stock will be delisted effective at the opening of business on Friday, December 21, 2012. NASDAQ is taking this action due to the Company's common stock trading below the minimum bid price of $1.00 in excess of the period permitted by NASDAQ listing rules.

As Globalstar previously announced, in September, 2011, NASDAQ notified the Company that its common stock was no longer in compliance with the minimum $1.00 per share bid price requirement for continued listing. As a result of an appeal initiated by the Company, the period for compliance was extended and any delisting was deferred. Globalstar recently requested a further extension of the compliance period and a deferral of delisting, which was declined by NASDAQ in the notice received on December 19, 2012.

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