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Exhibit 1

                             [IRIDIUM LETTERHEAD]


FOR IMMEDIATE RELEASE                  Contact:      John M. Windolph
                                                     202-326-5626

                        IRIDIUM OPERATING LLC ESTABLISHES
                       $1 BILLION SECURED CREDIT FACILITY
                                 (NASDAQ: IRIDF)

(Washington, D.C. - December 23, 1997) On December 19, 1997, Iridium LLC
finalized a $1,000,000,000 secured credit facility with a syndicate of lenders
(the "Secured Bank Facility"). The borrower under the Secured Bank Facility is
Iridium Operating LLC, a newly formed wholly owned subsidiary of Iridium LLC.
Chase Securities Inc. and Barclays Capital, a division of Barclays Bank PLC,
are Global Arrangers for the Secured Bank Facility. Iridium Operating LLC's
ability to draw under the Secured Bank Facility is contingent upon its ability
to meet certain milestones in the development, testing and operation of the
Iridium System. The Secured Bank Facility matures on September 30, 1998.
Iridium Operating LLC may extend the maturity up to June 30, 1999 if it can
demonstrate by July 1, 1998 that it has sufficient funds available to meet
budgeted project costs through the extended maturity. The Secured Bank Facility
is secured by substantially all of the assets of Iridium Operating LLC and by
all of the membership interests in Iridium Operating LLC.

           In connection with the establishment of the Secured Bank Facility,
Iridium LLC consummated an asset drop-down transaction (the "Asset Drop-Down
Transaction") with Iridium Operating LLC, pursuant to which substantially all of
the




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assets and liabilities of Iridium LLC were transferred to Iridium Operating LLC,
including, without limitation, all outstanding Series A, Series B and Series C
Senior Notes of Iridium LLC. The Asset Drop-Down Transaction was consummated in
order to facilitate the granting of the security interests required under the
Secured Bank Facility.

           Pursuant to the Asset Drop-Down Transaction, Iridium Operating LLC
has succeeded to Iridium LLC as obligor of Iridium LLC's Series A, Series B and
Series C Senior Notes. Under the indentures relating to those Senior Notes,
Iridium Operating LLC has been substituted for Iridium LLC with respect to the
Senior Notes, and Iridium LLC has been released from those obligations.

           Iridium LLC is developing a global wireless communications network
that will combine the worldwide reach of 66 low-earth-orbit satellites with
land-based wireless systems to enable subscribers to communicate using handheld
telephones and pagers virtually anywhere in the world.

           Iridium World Communications, Ltd. (NASDAQ: IRIDF), the public
investment vehicle of Iridium LLC, completed an initial public offering in early
June. Proceeds from the offering were used by Iridium World Communications,
Ltd. to purchase membership interests in Iridium LLC totaling approximately 8.5
per cent of the Company.

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           IRIDIUM is a registered trademark and service mark of Iridium
LLC.(C) 1997



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