Abstract
A space astrometry project is presented which is aimed at obtaining a catalogue of positions, proper motions and parallaxes of 500 000 stars on the entire sphere with accuracy on the level of few milliarcseconds. This system of coordinates, which should be a rotating one, must be linked to the dynamic system and extragalactic reference objects by the satellite observations of planets, asteroids and several QSO's. A rather simple scheme of an astrometric facility consisting of two telescopes on board of a rotating satellite is proposed. The main principles for compilation of the output catalogue in the AIST project are discussed.
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