Globe Wireless, a leading provider of maritime communications solutions, has completed a $57 million equity private placement with existing and new investors to support the development of new services and rapid growth of the Company. Principal participants included SEACOR SMIT Inc, Summit Accelerator Fund, Waterview Partners, L.P. and Wheatley Partners. In addition to SEACOR SMIT Inc, the participants included several current customers of Globe Wireless.

The proceeds from the Private Placement will be used by the Company to continue to expand its current products, services and infrastructure. Frank Coles, Managing Director of Globe Wireless stated, "We are very pleased about completing this placement. Not only will it allow us to accelerate the delivery of cutting edge solutions for our customers, but it is also a very solid endorsement from both the investment community and our customer base that we are the leader in the marketplace."

The digital Maritime Data Network(TM), owned and operated by Globe Wireless, provides reliable and low cost communications to and from ships at sea, anywhere in the world. Globe Wireless also uses the Network to provide worldwide, 24-hour, on-line customer support, message delivery confirmations, notice of satellite messages waiting ashore, and a variety of additional value-added services to the maritime community.

In November 1999, Globe Wireless introduced the Globe Communications Center (GCC), a complete solution for communications and data transfer between ship and shore. GCC combines the best of satellite and radio technology to provide customers with the most powerful and cost-effective communications solution available today. As of March 2000, there are approximately 3400 vessels using Globe Wireless' products and services.

Globe Wireless is 100% dedicated to serving the maritime community. The Company offers complete communications solutions by combining service and technology to simplify maritime communications. Advanced satellite and digital radio technology is used to transmit messages and data files to and from vessels anywhere in the world. Globe Wireless currently offers worldwide sales, 24-hour customer support, and global installation and repair services. Products include the Globe Communications Center(TM), the GlobeEmail® electronic messaging system for sending and receiving all types of written communications, GlobeTransfer(TM) for automatically moving data files to and from shore, special accounts for Crew messaging, Ship's Bulletin News and the GlobeOffshore® workboat management system.