PanAmSat Completes 30-Month, $2.0 Billion Modernization Plan with Successful GALAXY IIIC Satellite Launch; World’s Most Modern Fleet Increases to 22 Spacecraft

Versatile Powerhouse to Offer Video, VSAT, Broadcast Services, TVRO and Direct-to-Home at Prime U.S. Orbital Location

Long Beach, CA, 15 June 2006

PanAmSat Corporation (NASDAQ: SPOT) today announced the successful launch of its Galaxy IIIC satellite, the 22nd spacecraft in its fleet. Galaxy IIIC’s deployment completes PanAmSat’s 30-month, $2.0 billion modernization program that placed an additional seven satellites into space. The spacecraft will operate at 95 degrees west longitude, a key orbital position in the coveted Galaxy neighborhood.

Galaxy IIIC, which contains 24 C-band and 52 Ku-band transponders, rocketed into space this evening at 3:39 p.m. local time (6:39 p.m. EDT) from the Sea Launch Odyssey platform, located on the equator in the Pacific Ocean. Approximately one hour later, PanAmSat achieved acquisition of the spacecraft. The powerful and flexible Galaxy IIIC will support customers from PanAmSat’s video, VSAT and broadcast services units, as well as direct-to-home services for DIRECTV Latin America.

“Today’s event marks a milestone in the history of PanAmSat. With the successful launch of Galaxy IIIC, PanAmSat completes its 30-month, $2.0 billion fleet modernization program,” said Joe Wright, president and CEO of PanAmSat. “Galaxy IIIC is a perfect example of why customers choose PanAmSat: it’s versatile, robust and technologically advanced. As we move ahead, we look forward to working with our customers, leveraging the power of our fleet, and strengthening our leadership position in the industry.”

The 4850-kilogram Galaxy IIIC, a 702-model spacecraft built by Boeing Satellite Systems, has 24 C-band and 24 Ku-band transponders covering the continental United States, as well as 28 Ku-band transponders covering Latin America. Ultimately operating at 95 degrees west longitude, the satellite will take over for Galaxy IIIR and complement Galaxy VIIIi. Galaxy IIIR, which currently resides in the 95 degrees west longitude slot, will co-locate with Galaxy IIIC until it is put into service in the fall of 2002.

“Today’s launch marks the end of a very important chapter in the history of our company and the beginning of another exciting one,” said Jim Frownfelter, executive vice president and chief technology officer of PanAmSat. “Over the course of the past 30 months, our team has labored together to assemble one of the most versatile and robust spacecraft systems in the market. This fleet is critical to our resource base. PanAmSat will now be able to provide customers with even greater capabilities as well as work with them to develop additional services and applications specifically for their business. ”

Galaxy IIIC’s roster of customers includes: Chevron, China Central TV, HBO, Hughes Network Systems, MicroSpace, Scientific Atlanta and Verestar, Inc. In addition, Galaxy IIIC will be the complementary platform for DIRECTV Latin America, which reaches more than 1.6 million subscribers in 28 markets in Latin America and the Caribbean.

Galaxy IIIC is part of the Galaxy neighborhood, which boasts the top names in the cable industry. Along with Galaxy XI at 91 degrees WL, Galaxy XR at 123 degrees WL, Galaxy V at 125 degrees WL and Galaxy IX at 127 degrees WL, Galaxy IIIC is part of the “Power of Five” antenna program, which provides cable operators with simultaneous access to five Galaxy neighborhood satellites ensuring continuous delivery to cable head ends.