Sea Launch announced today it has signed an
additional agreement with PanAmSat Corporation (NASDAQ: SPOT), to launch the
Galaxy XIII/Horizons-1 satellite in the 4th Quarter of 2002. The new
spacecraft will support both PanAmSat’s cable program distribution services
as well as a new joint venture with Japan’s JSAT Corporation for expanded
Ku-band services in North America and extended services to Japan and Asia
via a Hawaii-based relay station.

“We are very pleased to announce this agreement today,” said Will Trafton,
president and general manager of Sea Launch, who made the announcement in
Paris while speaking to a gathering of industry attendees at Satellite 2001
Europe. “This strengthens an already solid relationship between PanAmSat and
Sea Launch and also demonstrates Sea Launch’s growing market position.”

Built by Boeing Satellite Systems, the world’s largest satellite
manufacturer, the 601 HP model spacecraft will provide a variety of digital
video, Internet and data services to North America, Central America, Alaska
and Hawaii. The spacecraft’s Ku-band payload, which will be known as
Horizons-1, is being constructed for PanAmSat’s and JSAT’s Horizons joint
venture and will be jointly owned by the two companies. The C-band portion
of the new spacecraft will be known as Galaxy XIII and will be operated
separately as part of PanAmSat’s Galaxy cable neighborhood, which serves the
domestic U.S. cable industry.

“Sea Launch successfully launched PAS-9 in July 2000, which currently
broadcasts programming from top international broadcasters and cable
programmers to cable systems and satellite TV households throughout the
Americas,” said Robert A. Bednarek, PanAmSat’s executive vice president and
chief technology officer. “In addition to our planned launch of Galaxy IIIC
next year aboard Sea Launch, this additional agreement further demonstrates
our confidence in their capabilities.”

From its equatorial launch site at 154 degrees West Longitude, the Sea
Launch rocket will lift Galaxy XIII/Horizons-1 to a lofted perigee
geosynchronous transfer orbit on its way to a final orbital position at 127
degrees West Longitude. The spacecraft will carry a total of 48 active
transponders, 24 in Ku-band and 24 in C-band. While it is designed for a
15-year lifespan, Sea Launch’s direct insertion into equatorial orbit is
expected to yield additional years of service.

PanAmSat Corporation is the premier provider of global video and data
broadcasting services via satellite. Operating a global network of 21
in-orbit spacecraft and seven technical facilities, the company delivers
entertainment and information to cable television systems, TV broadcast
affiliates, direct-to-home TV operators, Internet service providers,
telecommunications companies and corporations worldwide. PanAmSat is 81
percent owned by HUGHES Electronics Corporation. For more information on
PanAmSat, visit the company’s web site at

JSAT is a leading satellite operator in the Asia-Pacific region. The company
owns and operates eight satellites in seven orbital slots. JSAT provides
communications and broadcasting services that offer a range of unique
features made possible by satellite communications which is well suited to
support the high-volume, wide-distribution, high-speed networks. Based on
its corporate slogan, “JSAT, Expanding Horizons,” the company is working to
actively expand its business. JSAT is listed on the First Section of the
Tokyo Stock Exchange. For more information on JSAT, visit the company’s web
site at

Sea Launch Company, LLC, based in Long Beach, Calif., provides reliable,
cost effective, heavy lift launch services for commercial satellite
customers. The international partnership includes the Boeing Commercial
Space Company (U.S.), the Anglo-Norwegian Kvaerner Group (Norway), RSC
Energia (Russia) and SDO Yuzhnoye/PO Yuzhmash (Ukraine). Established in
1995, Sea Launch has completed six highly successful missions and has a
current backlog of 17 firm launch contracts. As the world’s only services
provider launching from the Equator, Sea Launch offers the optimal starting
point for spacecraft heading for geostationary orbit. For additional
information, visit the Sea Launch website at:


Contact: Paula Korn, 562.499.4729,