Worth an estimated 12 billion francs (about $2 billion), this order will enable Arianespace to fulfill launch demand during the period 2000-2002, based on the concurrent operation of the Ariane 4 and Ariane 5 launch systems. To date, European industry has booked orders for a total of 160 launch vehicles in this family: 11 Ariane 1, 17 Ariane 2 and 3, 116 Ariane 4, 16 Ariane 5. Arianespace's commitment to European industry will continue in 1998, with another Ariane 5 order, and financing arrangements to cover enhanced production and launch rates.

As of November 25, 1997, Arianespace is responsible for the management, maintenance and operation of ELA 3, the Ariane 5 launch pad in Kourou, French Guiana. Arianespace has operated ELA 2, Ariane 4 launch pad, since 1986.

``The European space industry has once again demonstrated its ability to join forces and rise to the challenge of ever-greater competitiveness and quality,'' emphasized Arianespace Chairman and CEO Jean-Marie Luton. ``This solidarity provides the indispensable support needed to ensure the operational continuity of Ariane 4 and Ariane 5 -- one of the key factors in our success.''

Satellite operators from around the world can count on flexible, available launch solutions, based on the concurrent operation of Ariane 4, and the new Ariane 5 system, slated for a controlled, regular service entry. Arianespace will offer 12 to 14 launches a year, with most of these missions launching two satellites at a time.

As we approach the 21st century, the number of geostationary commercial satellites is expected to increase by 50%, while the trend is toward heavier satellites, weighing 4,000 to 4,500 kg (8,800 to 9,900 lb.). At the same time, a number of new low-orbit constellations are anticipated.

Arianespace's orderbook now stands at 42 satellites to be launched, worth an estimated 20 billion francs (about $3 billion).

Arianespace, an industrial and commercial company, is the world leader in the provision of commercial space transportation services. Arianespace markets and sells Ariane launch services, manages the production of the European launcher, and provides launch operations from the Guiana Space Center in French Guiana. Since its creation, Arianespace has signed 181 launch contracts, successfully placed into orbit 133 satellites for commercial, international and government organizations, and 26 auxiliary payloads for experimental purposes or academia, industry and government.