Wilton, CT , December 20, 2004 — PanAmSat Holding Corporation (the “Company”) announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock.
Morgan Stanley & Co. Incorporated, Citigroup Global Markets Inc. and Merrill Lynch & Co. are serving as joint book-running managers of the offering.

When available, copies of the preliminary prospectus relating to the offering may be obtained from Morgan Stanley & Co. Incorporated, Prospectus Departments, 1585 Broadway, New York, NY 10036, (Tel: 212-761-4000), Citigroup Global Markets Inc. Prospectus Department, Brooklyn Army Terminal, 7th Floor, 140 58th Street, Brooklyn, NY 11220, (Tel: 718-765-6813) or Merrill Lynch & Co., Prospectus Department, 4 World Financial Center, New York, NY 10080, (Tel: 212-449-1000).

Through its owned and operated fleet of 24 satellites, the Company is a leading global provider of video, broadcasting and network distribution and delivery services.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.