| | supplemental indenture implementing the amendments to the 2028 Notes and the related indenture. The amendments amend each of the indentures for the Notes, among other things, to eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions contained in each indenture. Intelsat Corp will make a payment to each security holder of the 2014 Notes that validly tendered its 2014 Notes, and did not validly withdraw, and validly delivered its consent prior to the 2014 Consent Time, and did not validly revoke such consent, equal to $1,035.00 per $1,000 principal amount of the notes for which such security holder provided its consent, including accrued and unpaid interest. Intelsat Corp will make a payment to each security holder of the 2028 Notes that validly tendered its 2028 Notes, and did not validly withdraw, and validly delivered its consent prior to the 2028 Consent Time, and did not validly revoke such consent, equal to $1,200.00 per $1,000 principal amount of the notes for which such security holder provided its consent, including accrued and unpaid interest. Holders tendering their 2014 Notes after the 2014 Consent Time but before the Expiration Time will receive the tender offer consideration of $1,005.00 per $1,000 principal amount of 2014 Notes tendered. Holders tendering their 2028 Notes after the 2028 Consent Time but before the Expiration Time will receive the tender offer consideration of $1,160.00 per $1,000 principal amount of 2028 Notes tendered. Upon the terms and conditions described in each Offer to Purchase and Consent Solicitation Statement, payment for Notes accepted for purchase will be made (1) with respect to 2014 Notes and 2028 Notes validly tendered and not validly withdrawn at or prior to the 2014 Consent Time and the 2028 Consent Time, respectively, promptly after such acceptance for purchase (which is currently expected to be on or around September 30, 2010), and (2) with respect to 2014 Notes and 2028 Notes validly tendered after the 2014 Consent Time and 2028 Consent Time, respectively, but at or before the applicable Expiration Time, promptly after such Expiration Time (which is currently expected to be October 15, 2010, unless the applicable Tender Offer is extended). Intelsat Corp will pay accrued and unpaid interest on all Notes tendered and accepted for payment in the Tender Offers from the last interest payment date to, but not including, the date on which the Notes are purchased. Additional Information Intelsat Corp has retained Credit Suisse Securities (USA) LLC to act as the dealer manager and solicitation agent for the 2014 Tender Offer and the 2014 Consent Solicitation. Global Bondholder Services Corporation will act as the Information Agent and Wells Fargo Bank, National Association will act as the Depositary for the 2014 Tender Offer and the 2014 Consent Solicitation. Questions regarding the 2014 Tender Offer and the 2014 Consent Solicitation should be directed to Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll-free) or (212) 538-2147 (collect). Requests for documentation should be directed to Global Bondholder Services Corporation at (866) 470-4500 (toll-free) or (212) 430-3774 (collect). Intelsat Corp has retained Deutsche Bank Securities Inc. to act as the dealer manager and solicitation agent for the 2028 Tender Offer and the 2028 Consent 
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