Intelsat Announces Preliminary Results and Amendment to the Tender Offer For Senior Notes of Intelsat, Ltd.

Pembroke, Bermuda, 29 January 2009

Intelsat, Ltd., the world’s leading provider of fixed satellite services, today announced that its subsidiary, Intelsat Subsidiary Holding Company, Ltd. (“Intelsat Sub Holdco”), as of 5:00 p.m., New York City time, on January 28, 2009 (such date and time is referred to as the “Early Participation Date” in the Offer to Purchase dated January 14, 2009 (the “Offer to Purchase”)), has received tenders of $113,953,000 aggregate principal amount of Intelsat, Ltd.’s outstanding 7.625% Senior Notes due 2012 (CUSIP No. 45820E AB8) (the “7.625% Notes”) and $346,228,000 aggregate principal amount of Intelsat, Ltd.’s outstanding 6.50% Senior Notes due 2013 (CUSIP No. 45820E AH5) (together with the 7.625% Notes, the “Notes”) pursuant to Intelsat Sub Holdco’s previously announced cash tender offer for the Notes (the “Tender Offer”).

Intelsat, Ltd. also announced today that Intelsat Sub Holdco is amending the Tender Offer so that Intelsat Sub Holdco is now offering to purchase the maximum aggregate principal amount of outstanding Notes that it can purchase for $375,000,000 (excluding accrued interest) (the “New Maximum Payment Amount”), at the same purchase price and on the same terms and conditions set forth in the Offer to Purchase. The Tender Offer originally contemplated the purchase of the maximum aggregate principal amount of Notes that Intelsat Sub Holdco could purchase for $200,000,000 (excluding accrued interest).

Based upon the aggregate principal amount of Notes tendered as of the Early Participation Date, and assuming no change in such amount, the Clearing Premium (as defined in the Offer to Purchase) for the Notes would be $100.00 per $1,000 principal amount of Notes tendered.

The withdrawal date relating to the Tender Offer occurred at 5:00 p.m., New York City time, on January 28, 2009. Notes previously tendered and Notes that are tendered after the date hereof may not be withdrawn. The Tender Offer is scheduled to expire at 12:00 midnight, New York City time, on February 11, 2009, unless extended or earlier terminated by Intelsat Sub Holdco (the “Expiration Date”).

The Tender Offer is conditioned upon the satisfaction or waiver of certain conditions, including Intelsat Sub Holdco receiving funds from an incurrence of indebtedness in an aggregate amount at least equal to the New Maximum Payment Amount in the Tender Offer. Subject to applicable law, Intelsat Sub Holdco may also terminate the Tender Offer at any time before the Expiration Date in its sole discretion.

Additional Information

Intelsat Sub Holdco has retained Goldman, Sachs & Co. to act as the dealer manager for the Tender Offer. MacKenzie Partners, Inc. is the Information Agent and Depositary for the Tender Offer. Questions regarding the Tender Offer should be directed to Goldman, Sachs & Co. at (800) 828-3182 (toll-free) or (212) 357-4692 (collect). Requests for documentation should be directed to MacKenzie Partners, Inc. at (800) 322-2885 (toll-free) or (212) 929-5500 (collect). This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to purchase with respect to any Notes. The Tender Offer is being made solely pursuant to the Offer to Purchase and related documents. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of Intelsat Sub Holdco by the dealer manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

About Intelsat

Intelsat is the leading provider of fixed satellite services (FSS) worldwide, delivering information and entertainment for many of the world’s leading media and network companies, multinational corporations, Internet service providers and governmental agencies. Intelsat’s satellite, teleport and fiber infrastructure is unmatched in the industry, setting the standard for advanced transmissions of video, data and voice services. With the globalization of content, broadband, telecom, HD and mobility fueling next-generation growth, the ever-expanding universe of satellite communications is the cornerstone of today's Intelsat. Real-time, advanced communications with people anywhere in the world is closer, by far.

Contact

Dianne VanBeber
dianne.vanbeber@intelsat.com
+1 202 944 7406

Intelsat Safe Harbor Statement:

Some of the statements in this news release constitute "forward-looking statements" that do not directly or exclusively relate to historical facts. The forward-looking statements made in this release reflect Intelsat's intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, including known and unknown risks. Detailed information about some of the known risks is included in Intelsat's annual report on Form 10-K for the year ended December 31, 2007 and Intelsat's other periodic reports filed with the U.S. Securities and Exchange Commission. Because actual results could differ materially from Intelsat's intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this news release with caution. Intelsat does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.