X0202 4 2005-05-10 0 0000756502 SKYTERRA COMMUNICATIONS INC SKYT 0001233563 HARBERT DISTRESSED INVESTMENT MASTER FUND LTD C/O INTERNATIONAL FUND SERVICES THIRD FL BISHOP SQUARE REDMONDS HILL DUBLIN IRELAND L2 00000 IRELAND 0 0 1 0 0001224055 HMC DISTRESSED INVESTMENT OFFSHORE MANAGER LLC ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 0 0 1 0 0001233566 HMC INVESTORS LLC ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 0 0 1 0 0001233569 FALCONE PHILIP 555 MADISON AVE 16TH FLOOR NEW YORK NY 10022 0 0 1 0 0001233571 HARBERT RAYMOND J ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 0 0 1 0 0001233573 LUCE MICHAEL D ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 0 0 1 0 Common Stock 2005-05-10 4 P 0 47840 32.37 A 968060 D Common Stock 2005-05-10 4 P 0 0 0 A 968060 I By Harbert Distressed Investment Master Fund, Ltd. Common Stock 2005-05-10 4 P 0 7160 32.37 A 29940 I By Alpha US Sub Fund VI, LLC These securities are owned by Harbert Distressed Investment Master Fund, Ltd., which is a Reporting Person. These securities may be deemed to be beneficially owned by HMC Distressed Investment Offshore Manager, L.L.C. ("HMC Management"), the investment manager of Harbert Distressed Investment Master Fund, Ltd., HMC Investors, L.L.C., its managing member ("HMC Investors"), Philip Falcone, a member of HMC Management and the portfolio manager of Harbert Distressed Investment Master Fund, Ltd., Raymond J. Harbert, a member of HMC Investors, and Michael D. Luce, a member of HMC Investors. Each such Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. These securities may be deemed to be beneficially owned by HMC Investors, Philip Falcone, who is the portfolio manager of Alpha US Sub Fund VI, LLC, Raymond J. Harbert and Michael D. Luce. Each such Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Harbert Distressed Investment Master Fund, Ltd., HMC Distressed Investment Offshore Manager, L.L.C., By: HMC Investors, L.L.C., Managing Member, By: /s/ Joel B. Piassick 2005-05-12 HMC Distressed Investment Offshore Manager, L.L.C., By: HMC Investors, L.L.C., Managing Member, By: /s/ Joel Piassick 2005-05-12 HMC Investors, L.L.C., By: /s/ Joel Piassick 2005-05-12 By: /s/ Philip Falcone 2005-05-12 By: /s/ Raymond J. Harbert 2005-05-12 By: /s/ Michael D. Luce 2005-05-12