Harbinger Capital Partners Special Situations Fund, L.P. and Harbinger Capital Partners Master Fund I, Ltd. or Harbinger Funds, both affiliated investment funds of Harbinger Capital Partners LLC announced Monday that they intend to sell, in aggregate, 64,277,249 ordinary shares in Inmarsat Plc (ISAT.LN), constituting 14% of the issued share capital of Inmarsat and representing the remainder of the Inmarsat shares held by the Harbinger Funds.

MAIN FACTS:

-Credit Suisse and UBS Investment Bank have been appointed as Joint Bookrunners with respect to the Transaction and have also consented to the waiver of certain lock-up arrangements which were in place following the sale of 65,000,000 Inmarsat shares by the Harbinger Funds on October 5, 2010.

-Bookbuilding in relation to the Transaction will commence immediately.

-It is expected that the books will close on or before close of business on February 8, 2011.

-Pricing and allocations are expected to be announced as soon as practicable following the closing of the books.

-Inmarsat shares closed Monday at 688 pence

-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com