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Joe Wright  - We are pleased to announce the purchase of the Horizons-2 satellite which extends two significant partnerships that PanAmSat has developed over the past five years, ... First, PanAmSat and JSAT will double capacity in our Horizons joint venture, which has already proven to be a highly successful for both companies. This satellite will provide Ku-band growth capacity in North America for PanAmSat in 2007 through the next decade. And secondly, we are extending our relationship with Orbital Sciences as our primary supplier of small satellites which have become a critical part of our business strategy going forward.

We are pleased to announce the purchase of the Horizons-2 satellite which extends two significant partnerships that PanAmSat has developed over the past five years, ... First, PanAmSat and JSAT will double capacity in our Horizons joint venture, which has already proven to be a highly successful for both companies. This satellite will provide Ku-band growth capacity in North America for PanAmSat in 2007 through the next decade. And secondly, we are extending our relationship with Orbital Sciences as our primary supplier of small satellites which have become a critical part of our business strategy going forward.

Joe Wright
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