Intelsat Reports Loss

PEMBROKE, November 15: Satellite
services provider Intelsat reported revenue of $528.5 million and a net loss of
$172.5 million for the quarter ended September 30, 2006.

The results incorporate the impact of
the July 3, 2006, acquisition of PanAmSat Holding Corporation, which was
subsequently renamed Intelsat Holding Corporation.

The net loss reflects the impact of an
asset impairment charge of $49.0 million to write down the net book value of
one of the company’s satellites that experienced an anomaly in September,
2006. The net loss also reflects
the impact of restructuring costs of $19.9 million related to the company’s the
PanAmSat Acquisition.

For the nine months ended September 30,
2006, Intelsat reported revenue of $1.1 billion, a net loss of $305.4 million,
and EBITDA of $689.2 million. These results also reflect the asset impairment
charge. Intelsat Bermuda adjusted EBITDA was $842.5 million, or 75 percent of
revenue, for the same nine-month period.