PA Panamsat Holding Cor

PanAmSat Adopts Dividend Policy and Declares Initial Dividend WILTON, Conn., March 21 /PRNewswire-FirstCall/ -- PanAmSat Holding Corporation (NYSE:PA) today announced that its board of directors has adopted a dividend policy reflecting an intention to distribute a substantial portion of the cash generated by its business in excess of operating expenses and working capital requirements, interest and principal payments on its indebtedness and capital expenditures as regular quarterly dividends to its stockholders. Consistent with this policy, the PanAmSat board of directors declared a partial quarterly dividend for the period from March 22, 2005, to March 31, 2005, in the amount of $0.043056 per share, payable on or about April 15, 2005, to stockholders of record as of March 31, 2005. PanAmSat expects to continue to pay quarterly dividends at an annual rate of $1.55 per share through at least March 31, 2006. "The initiation of a regular quarterly cash dividend demonstrates our optimism for PanAmSat's future as well as confidence in our ability to continue generating strong cash flows," said Joseph Wright, PanAmSat's chief executive officer. "PanAmSat has a history of generating significant cash flows from operating activities due to the Company's stable and predictable revenue stream, high operating margins and prudent management of operating expenses, as well as capital costs." While PanAmSat intends to pay regular quarterly dividends pursuant to its new dividend policy, all subsequent dividends will be declared by the PanAmSat board of directors at its discretion. About PanAmSat Through its owned and operated fleet of 23 satellites, PanAmSat (NYSE:PA) is a leading global provider of video, broadcasting and network distribution and delivery services. In total, the Company's in-orbit fleet is capable of reaching over 98 percent of the world's population through cable television systems, broadcast affiliates, direct-to-home operators, Internet service providers and telecommunications companies. In addition, PanAmSat supports the largest concentration of satellite-based business networks in the U.S., as well as specialized communications services in remote areas throughout the world. For more information, visit the Company's web site at http://www.panamsat.com/. DATASOURCE: PanAmSat Holding Corporation CONTACT: Kathryn Lancioni, VP, Corporate Communications of PanAmSat Holding Corporation, +1-646-293-7415 Web site: http://www.panamsat.com/

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