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.
About Intelsat

Intelsat has empowered customers to navigate the world of global communications for over 40 years. Intelsat is the leading provider of fixed satellite services (FSS) worldwide, delivering advanced transmission access for information and entertainment to some of the world’s leading media and network companies, multinational corporations, Internet service providers and governmental agencies. Intelsat also offers seamless service for voice, data and video transmission unmatched in the industry. With the globalization of content, broadband, telecom, HD and IPTV fueling next-generation growth, the ever expanding universe of satellite services are the cornerstones of today’s Intelsat. Real-time, advanced communications with people anywhere in the world is closer, by far.