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Sea Launch Completes IS-27 FROB Report

Sea Launch

Bern, Switzerland, June 3, 2013 (GLOBE NEWSWIRE) -- Sea Launch AG hasannounced that the Failure Review Oversight Board (FROB) issued its final summary report of findings on May 31, following its review of the investigation into the cause of the January 31, 2013 failed launch attempt of the IS-27 spacecraft. It had been previously reported that the FROB concluded that the failure was isolated to the Zenit 3SL 1st stage hydraulic power supply unit (BIM) with no other contributors identified.

Corrective actions are expected to be complete on the existing flight units in the June/July time frame and do not involve any design changes to the flight hardware. The corrective actions focus on additional standalone inspections and testing of the BIM prior to installation into the Zenit 1st stage engine compartment.

The FROB membership, including independent reviewers and subject matter experts, unanimously concurred with the investigation findings and cleared the Zenit 3SL for return to flight pending closure of the corrective actions, which they affirmed will preclude a similar failure in the future.

Officials representing Sea Launch AG and Energia Logistics Ltd., Sea Launch's prime technical subcontractor, are now set to travel to present the FROB's findings to the customer and insurance communities during the month of June.

Kjell Karlsen, president of Sea Launch said, "We are now poised to brief the space community so as to assure all that we are implementing the corrective actions necessary for our success going forward." Sergey Gugkaev, chief executive officer of Sea Launch, added, "We wish to express our sincere gratitude to the Investigation Commission participants including RSC Energia, Yuzhnoye SDO, Yuzhmash and the National Space Agency of Ukraine as well as the independent FROB membership team who have done an expert job and who have now positioned us for return to flight operations."

About Sea Launch AG

Sea Launch AG provides launch solutions to the industry's satellite operator community based on the Zenit launch system. These services include the provision of all-inclusive launch services incorporating schedule assurance, financing, risk management; insurance and creative contracting solutions to meet the changing demands of the commercial launch market. Sea Launch AG owns and manages the primary technology, patent and other intellectual property and tangible assets of the company. These include the launch platform Odyssey and the Sea Launch Commander vessels located in the Home Port facility in Long Beach, California, and the unique know-how associated with launching satellites from an ocean-based launch platform located directly on the equator. The Sea Launch system offers the most direct and cost-effective route to geostationary orbit for commercial communications satellites, providing diversity of supply, affordability and flexibility for the industry's satellite operators. For more information, please visit the Sea Launch website at: www.sea-launch.com.

CONTACT: Peter Stier +1 (562) 499-4726 peter.g.stier@sea-launch.com

Source: Sea Launch