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Globalstar Telecommunications Limited Stock to be Delisted From Nasdaq National Market; Application Submitted for Listing on Nasdaq SmallCap Market   NEW YORK, Jun 5, 2001 (BUSINESS WIRE) -- Globalstar Telecommunications Limited (NASDAQ:GSTRF) today announced that, on May 31, 2001, it received a Nasdaq Staff Determination indicating that the Company no longer complies with the Minimum Bid Price requirements for continued listing set forth in Market Place Rule 4450(a)(5) and that it is therefore subject to delisting from the Nasdaq National Market.   The Company has applied to transition its listing to the Nasdaq SmallCap Market, and, accordingly, delisting from the Nasdaq National Market has been stayed until a final determination regarding its application is made. There can be no assurance that the Company's application for listing on the Nasdaq SmallCap Market will be approved. If it is not approved, the Company's listing will be transferred to the Over-The-Counter Bulletin Board, a regulated quotation service that offers real-time quotes, last-sale prices and volume information on selected over-the-counter equity securities.   CONTACT:          Globalstar Telecommunications Limited                   Mac Jeffery, 212/338-5383                   or                   The Abernathy MacGregor Group                   Michael Pascale, 212/371-5999 URL:              http://www.businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.  Copyright (C) 2001 Business Wire.  All rights reserved.  -0-   KEYWORD:          NEW YORK INDUSTRY KEYWORD: TELECOMMUNICATIONS     [IMAGE]    ***IMPORTANT NOTICE AND DISCLAIMER REGARDING THIS COURTESY EMAIL***   At your request, as a subscriber to our service, this email alert is being sent to you as a courtesy and is for information  purposes only.  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