Intelsat Announces Expiration and Final Results of the Tender Offer for Senior Notes of Intelsat, Ltd.

Pembroke, Bermuda, 12 February 2009

Intelsat, Ltd., the world’s leading provider of fixed satellite services, today announced the expiration and final results of the previously announced cash tender offer (the “Tender Offer”) by its subsidiary, Intelsat Subsidiary Holding Company, Ltd. (“Intelsat Sub Holdco”), to purchase the maximum aggregate principal amount of Intelsat, Ltd.’s outstanding 7.625% Senior Notes due 2012 (CUSIP No. 45820E AB8) (the “7.625% Notes”) and Intelsat, Ltd.’s outstanding 6.50% Senior Notes due 2013 (CUSIP No. 45820E AH5) (the “6.50% Notes,” and together with the 7.625% Notes, the “Notes”) that Intelsat Sub Holdco can purchase for $375,000,000 (excluding accrued interest), at a purchase price per $1,000 principal amount determined in accordance with a modified “Dutch auction” procedure on the terms and conditions set forth in an Offer to Purchase dated January 14, 2009 (the “Offer to Purchase”). The Tender Offer expired at 12:00 midnight, New York City time, on February 11, 2009.

Intelsat Sub Holdco has accepted for purchase all of the Notes validly tendered (and not validly withdrawn) in the Tender Offer. The aggregate principal amount of the 7.625% Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer was $114,159,000, representing approximately 19.0% of outstanding 7.625% Notes. The aggregate principal amount of the 6.50% Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer was $346,450,000, representing approximately 49.5% of outstanding 6.50% Notes. The Clearing Premium (as defined in the Offer to Purchase) for the Notes is $100.00 per $1,000 principal amount of Notes tendered. The consideration payable per $1,000 principal amount of Notes is listed in the table below.

Series of Notes CUSIP No. Total Consideration(1) Tender Offer Consideration(2) Accrued Interest(3)
7.625% Senior Notes due 2012 45820E AB8 $817.50 $787.50 $24.78
6.50% Senior Notes due 2013 45820E AH5 $735.00 $705.00 $18.24

(1) Consideration payable per $1,000 principal amount of Notes tendered on or prior to the Early Participation Date (as defined in the Offer to Purchase), which includes the $30.00 early participation payment.
(2) Consideration payable per $1,000 principal amount of Notes tendered after the Early Participation Date and on or prior to the Expiration Date (as defined in the Offer to Purchase).
(3) Accrued interest payable per $1,000 principal amount of Notes.

Intelsat Sub Holdco intends to fund the payment of the Notes purchased in the Tender Offer with the proceeds of its offering of 8.875% Senior Notes due 2015. Intelsat Sub Holdco will pay to The Depository Trust Company the total consideration payable to holders in the Tender Offer, and MacKenzie Partners, Inc., the depository for the Tender Offer, will irrevocably instruct The Depository Trust Company to pay the validly tendering holders the total tender offer consideration, including accrued and unpaid interest on the accepted Notes from the last applicable interest payment date to, but not including, the date of settlement.