PanAmSat Holding Corporation Announces Extension of Exchange Offer For Senior Discount Notes WILTON, Conn., May 18 /PRNewswire-FirstCall/ -- PanAmSat Holding Corporation announced today that it is extending the expiration date for the exchange offer relating to all of its outstanding 10-3/8% senior discount notes. The exchange offer relates to the exchange of $416,000,000 in aggregate principal amount at maturity of the Company's outstanding 10-3/8% senior discount notes due 2014 (CUSIP Numbers 69831YAA3, 69831YAB1 and U69808AA8) issued on October 19, 2004 (the "Original Notes") for a like principal amount in new notes registered under the Securities Act of 1933 (the "Exchange Notes"). The exchange offer, which commenced April 18, 2005 and was previously set to expire on May 17, 2005, will now expire at 5:00 p.m., New York City time, on May 24, 2005, unless extended. Except for the absence of transfer restrictions under the federal securities laws, registration rights, and certain special interest rate provisions applicable to the Original Notes, the Exchange Notes are identical to the Original Notes. Except for the extension of the expiration date, all terms and conditions of the exchange offer remain unchanged and in full force and effect. As of May 17, 2005, holders of approximately $415,870,000 in aggregate principal amount at maturity of Original Notes have tendered Original Notes pursuant to the exchange offer. Requests for assistance regarding the exchange offer or for copies of the exchange offer materials should be directed to The Bank of New York, the exchange agent for the exchange offer, at (212) 815-5098. Through its owned and operated fleet of 23 satellites, PanAmSat 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% 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. PanAmG. 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 Corporation, +1-203-210-800 Web site: http://www.panamsat.com/

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