UPDATE: Globalstar Issues Response Related to Kerrisdale's FCC Filing

Globalstar, Inc.

issued the following statement in response to Kerrisdale Capital's ("Kerrisdale") recent filing with the Federal Communications Commission ("FCC"): Kerrisdale's FCC filing is nothing more than another attempt by a short seller to drive the price of Globalstar's stock down for its own short term financial gain. Terrestrial Low Power Service ("TLPS") represents a differentiated, premium and immediate solution to global Wi-Fi congestion, and we are confident in our ability to capitalize on this opportunity for our shareholders. Kerrisdale's arguments demonstrate a lack of understanding of our company and our industry, and are now contradictory. Last week, Kerrisdale claimed that Wi-Fi congestion was a myth. This week, Kerrisdale has changed its position and undermined a core component of its own thesis by asserting that Wi-Fi congestion may actually exist and that easing the rules regarding the use of Channel 13 "could be an especially valuable resource for wireless local area network[s]." While Kerrisdale's story continues to change, Globalstar and the broader communications industry remain consistent. Industry regulators and major industry participants agree that Wi-Fi congestion is real and must be addressed. We have made tremendous progress at the FCC regarding TLPS and look forward to the Commission adopting its proposed rules promptly. We do not believe there is anything in Kerrisdale's filing that will affect this timing.