April 18, 2005–On April 15, the U.S. Federal Communications Commission announced that it has found Intelsat to be in compliance with all of the privatization requirements of the ORBIT Act. The FCC found that Intelsat has substantially diluted the ownership of its former signatories and thus, the FCC determined, Intelsat may now provide direct-to-home, direct broadcast satellite, Ka- and V-band satellite services, among others.
The ORBIT Act, which was passed by the Congress in 2000, mandated the privatization of the former intergovernmental organization. As the FCC recognized, Intelsat was purchased in January 2005 by four private equity firms, which bought out the ownership interests of Intelsat’s former shareholders.
“The FCC has recognized that Intelsat has completed its transformation into a fully private company, able to provide a complete range of satellite solutions in the competitive marketplace,” said Intelsat’s Executive Vice President and General Counsel, Phillip Spector. “Going forward, Intelsat is concentrating our efforts on providing the services our customers demand and on increasing shareholder value,” he added.
About Intelsat
As a global communications leader with 40 years of experience, Intelsat helps service providers, broadcasters, corporations and governments deliver information and entertainment anywhere in the world, instantly, securely and reliably. Intelsat’s global reach and expanding solutions portfolio enable customers to enhance their communications networks, venture into new markets and grow their businesses with confidence. For more information, visit www.intelsat.com.
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, uncertainties and other factors, many of which are outside of Intelsat’s control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Detailed information about some of the known risks is included in Intelsat’s annual report on Form 20-F for the year ended December 31, 2004 on file 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.
