Satmex Second Priority Bondholders Oppose EchoStar Sale Transaction

5 March 2010

Holders of more than $100 million of second priority senior secured notes (the "Second Priority Notes") issued by Satélites Mexicanos, S.A. de C.V. ("Satmex"), representing approximately 55% of the principal amount outstanding of such notes, have informed Satmex that they oppose the recently announced contingent sale transaction proposed by Satmex, EchoStar Corporation ("EchoStar") and MVS Comunicaciones. Such noteholders (the "Objecting Noteholders") have indicated their willingness to entertain alternative transaction proposals, including a stand-alone refinancing for Satmex, that would repay Satmex first priority senior secured notes (the "First Priority Notes") in full, reduce total debt of Satmex, provide a more meaningful recovery to holders of the Satmex Second Priority Notes and provide Satmex with sufficient financing to launch a replacement satellite and operate its business.

On February 26, 2010, Satmex and EchoStar announced the execution of a Stock Purchase Agreement pursuant to which EchoStar proposes to acquire Satmex, subject to satisfaction of a number of conditions. Such conditions are described in greater detail in a Form 6-K filed by Satmex on or about February 26, 2010, and include conditions relating to Satmex's ability to redeem certain of its debt securities, including Satmex's second priority senior secured notes, at a significant discount, and the execution prior to March 15, 2010 of lock-up agreements by holders of at least a majority of the First Priority Notes and Second Priority Notes.

Each of the Objecting Noteholders has indicated that it is willing to entertain any alternative transaction proposal, including a stand-alone refinancing, that provides aggregate consideration to holders of Second Priority Notes that is meaningfully more than that implied by the current EchoStar agreement.

Jefferies & Company, Inc. is assisting the ad hoc committee with the exploration of potential refinancing alternatives. Ropes & Gray LLP serves as counsel to the ad hoc committee.