Intelsat Announces Proposed Redemption of Floating Rate Senior Notes due 2013 and Floating Rate Senior Notes due 2015

Pembroke, Bermuda, 9 January 2008

Intelsat, Ltd., the world’s leading provider of fixed satellite services, today announced, at the request of the new investors referred to below, that Intelsat (Bermuda), Ltd. intends to redeem all of its outstanding $260 million Floating Rate Senior Notes due 2013 (the “2013 Notes”) and $600 million Floating Rate Senior Notes due 2015 (the “2015 Notes” and, together with the 2013 Notes, the “Notes”). The redemption of the Notes is conditioned upon consummation of the acquisition of Intelsat Holdings, Ltd. (the “Acquisition”), the indirect parent of Intelsat (Bermuda), Ltd., by affiliates of funds advised by BC Partners Holdings Limited, Silver Lake and certain other investors and the receipt from the new investors of sufficient moneys to effect the redemption.

Intelsat (Bermuda), Ltd. has issued a notice of redemption pursuant to each of the indentures for the 2013 Notes and the 2015 Notes stating that it intends to redeem all of such Notes on February 7, 2008, or such later date to which such redemption may be extended by Intelsat (Bermuda), Ltd. in its sole discretion (such date, as it may be extended, the “Redemption Date”). The redemption price for the 2013 Notes will be equal to 100% of the principal amount of the 2013 Notes plus a premium determined in accordance with the indenture for the 2013 Notes and accrued and unpaid interest thereon to the Redemption Date. The redemption price for the 2015 Notes will be equal to 102% of the principal amount of the 2015 Notes plus accrued and unpaid interest thereon to the Redemption Date.