RESTON, VA–( EMWNews – April 7, 2008) – ICO Global Communications (Holdings) Limited

(ICO) (NASDAQ: ICOG) today announced that its subsidiary, ICO North

America, Inc., has closed on the funding of its recently announced $40

million working capital facility agreement. The facility was arranged by

Jefferies Finance LLC, an affiliate of Jefferies and Company, and was

funded by several major lenders on the terms and conditions previously

announced.

ICO also announced two major developments related to the launch of the ICO

G1 satellite. On April 2, the Federal Communications Commission (FCC)

granted ICO its request for a milestone extension reflecting the planned

launch date of the ICO G1 satellite. Under the revised milestones, ICO is

to launch the satellite by April 15, 2008, and certify the mobile satellite

services systems operational by May 15, 2008. Copies of the April 2 FCC

orders can be found on www.ico.com.

Also on April 2, the ICO G1 satellite was mated to its launch vehicle, an

Atlas V, and final preparations are underway for its launch on April 14,

2008 from Cape Canaveral, Florida. The ICO G1 spacecraft was constructed

by Space Systems/Loral, the Atlas V launch vehicle was constructed by

Lockheed Martin Commercial Launch Services, and United Launch Alliance is

the launch provider for the ICO G1 mission.

“A week from today we will launch one of the largest commercial satellites

ever built,” commented Tim Bryan, chief executive officer of ICO. “With

today’s closing of our $40 million working capital facility, coupled with

last week’s positive FCC action on our milestone extension request, we have

the momentum we need to forge ahead in delivering an exciting new

generation of mobile interactive services.”

About ICO

ICO Global Communications (Holdings) Limited is a satellite communications

company developing an advanced next-generation hybrid media system,

combining both satellite and terrestrial communications capabilities. ICO

is deploying a mobile interactive media service known as ICO mim™. ICO

mim will combine ICO’s unique interactive satellite capability with

nationwide coverage to deliver a new level of navigation, enhanced roadside

assistance and the ultimate mobile video experience, including 10-15 live

channels of premium television content. ICO mim will utilize the DVB-SH

worldwide standard for mobile video services. ICO is based in Reston,

Virginia. For more information, visit www.ico.com.

Safe Harbor Statement

This press release contains forward-looking statements, including

statements regarding the timing of the launch of ICO’s G1 satellite, as

well ICO’s plans to offer a new generation of mobile interactive services.

The forward-looking statements involve risks and uncertainties that could

cause actual results to differ materially from our expected results,

including the potential for further launch delays. More information about

risks is contained in ICO’s most recent Annual Report on Form 10-K and its

other filings with the U.S. Securities and Exchange Commission. The

forward-looking statements in this press release speak as of the date

hereof, and ICO undertakes no obligation to revise or update any

forward-looking statements for any reason.