19 August 2010

Asia Satellite Telecommunications Holdings Limited („AsiaSat‟ - SEHK: 1135), Asia‟s leading satellite operator, today announces its 2010 interim results for the six months ended 30 June 2010.

Asia Satellite Telecommunications Company Limited ("AsiaSat") made steady progress through the first half of 2010 in line with the Chairman‟s outlook in March, and the Company is reporting stronger results for this half year than for the same period in the prior year. The excellent performance was achieved despite the limited global economic recovery and, looking ahead, we continue to be cautiously optimistic about the medium-term future.

The first half of 2010 was marked by several corporate developments. The Board announced that I would retire as AsiaSat‟s Chief Executive Officer and be appointed as Executive Chairman of the Company, and that the Deputy Chief Executive Officer, William WADE, would be appointed Chief Executive Officer of AsiaSat, both effective on 1 August 2010. Further details are set out below.

Our exciting new Direct-to-Home (DTH) project in Taiwan was launched in June and is making good progress. As the year advances, we continue to see growing interest in High Definition Television (HDTV) in the region and, of course, AsiaSat played its part in facilitating the most watched television event in history, the 2010 FIFA World Cup.

Turnover for the first half of 2010 was HK$690 million (2009 : HK$545 million), an increase of HK$145 million, amounting to some 27% over the equivalent period in 2009. The main increase was due to encouraging growth in our core business, revenue generated through a lease agreement for exclusive use of AsiaSat 2, and the leasing of transponders to DISH-HD Asia Satellite Limited ("DISH-HD Asia Satellite"), our Taiwan joint venture.

Our wholly-owned subsidiary, SpeedCast Holdings Limited ("SpeedCast"), also reported an increase with first-half revenue up HK$24 million as a result of continued strong customer demand.

Operating expenses in the first half of 2010, excluding depreciation and amortisation, amounted to HK$166 million (2009 : HK$158 million), up by HK$8 million. This increase was related substantially to in-orbit insurance incurred for our new satellite, launched in the second half of last year.

The profit attributable to equity holders for the first half of 2010 was HK$305 million (2009 : HK$253 million), up by 21%. The increase was achieved mainly from steady growth in revenue, as mentioned above. Despite the impact of the increased operating costs, also noted above, and additional depreciation charges associated with our new satellite, the profit improvement was most encouraging.

During the period, the Group generated a net cash inflow of HK$618 million (2009 : outflow of HK$424 million) after paying capital expenditure of HK$202 million (2009 : HK$666 million) and dividends of HK$125 million (2009 : HK$121 million). As at 30 June 2010, the Group reported a cash and cash equivalents balance of HK$2,102 million (31 December 2009 : HK$1,484 million). The Group continues to be debt free.

The Board has resolved to declare an interim dividend of HK$0.08 per share (2009 : HK$0.08 per share), the same as last year. The interim dividend is payable on or about 4 November 2010 to equity holders on the share register as at 8 October 2010. The share register will be closed from 4 to 8 October 2010, both days inclusive.

In March, the Board announced that I, Peter JACKSON, would retire as Chief Executive Officer of AsiaSat on 31 July 2010, and then be appointed as Executive Chairman of the Company on 1 August 2010 and remain as an Executive Director of the Company until 31 July 2011. The Board noted that, in my new capacity of Executive Chairman, combined with the continuing role as Executive Director of the Company, I would maintain a strategic involvement in the Group and its success. After this transitional period, it is the current intention that I shall retire from the Group on 31 July 2011.

It was also announced that William WADE, previously Deputy Chief Executive Officer of AsiaSat and an Executive Director of the Company, would be appointed by the Board to succeed me as Chief Executive Officer of AsiaSat with effect from 1 August 2010.

Construction of this new satellite by Space Systems/Loral in the U.S. is progressing on schedule towards its planned launch in late 2011. It is based on the powerful SS/L 1300 series satellite platform with its design and performance similar to that of our most recent satellite, AsiaSat 5.

World Cup fever and HD came together from 11 June to 11 July 2010 when Eurovision, the premier distributor of sports and news content for the world‟s top broadcasters and media platforms, leased additional C-band transponders on AsiaSat 5. This added capacity was needed to support the HD and SD broadcasts of all 64 FIFA World Cup tournament matches. The Eurovision signals from South Africa were transported via its dedicated fibre network to AsiaSat‟s Tai Po Earth Station in Hong Kong for uplink to AsiaSat 5, which provided broadcast coverage for the whole Asia-Pacific region.

We indicated in our 2009 Annual Report that the satellite industry in Asia might escape the worst of the global economic downturn. This proved to be correct in the first half of 2010 and is demonstrated in the positive interim results.

While there is still more capacity in the market than demand, the broadcasting industry‟s requirements for satellite communications are traditionally more recession-proof than other sectors of the economy. They are also our primary demand driver. Today, as market leader in the Asia-Pacific region, AsiaSat serves over 100 broadcasters, delivering some 300 television channels region wide, and we continue to win new business.

We also continue to see growing regional demand for HDTV, and this represents an area of significant potential for AsiaSat as the region catches up with the more developed U.S. and European markets. In addition we are now seeing some early activity in Three Dimensional Television (3D TV) as it gains traction, and 3D TV sets are increasingly available in retail outlets across the region.

The growing number of new DTH satellite television and Internet Protocol Television (IPTV) platforms serving Asia gives further grounds for medium-term optimism. It is these platforms that are driving the launch of new television channels in the region, despite the sluggish economies. Regrettably, there are still regulatory barriers to free competition in certain regional DTH markets but we believe that, in due course, consumer demand and commercial considerations will result in governments lifting restrictions on foreign investment. This will further stimulate growth.

Underpinning AsiaSat‟s success and its future in Asia Pacific are the inherent advantages that satellites have over terrestrial broadcasting systems. In particular, satellites can achieve ubiquitous coverage to even the most remote areas. This allows them to provide backbone connections for internet and mobile telephony especially across wide-spread regions with disparate centres of population, as in our region. We believe that this driver will become increasingly relevant in the long term as governments of developing nations look to expand their communications infrastructure.

SpeedCast, a wholly-owned subsidiary of AsiaSat, provides two-way very small aperture terminal (VSAT) services and broadband backbone access to customers in countries in Asia and beyond.

For the first six months of 2010, the turnover of SpeedCast was HK$95 million (2009 : HK$71 million), an increase of 34%, and net profit was HK$8 million (2009 : HK$5 million). We are pleased with this company‟s positive growth.

DISH-HD Asia Satellite, a joint venture between AsiaSat and EchoStar Corporation, was formed in June 2009 to deliver DTH satellite television services in Taiwan and other targeted regional markets. The company officially launched its services in Taiwan in June 2010 and is currently providing its customers with a choice of 36 HD or enhanced SD channels.

For the first six months of 2010, DISH-HD Asia Satellite incurred a loss of some HK$54 million (2009 : Nil), of which AsiaSat‟s share was approximately HK$27 million (2009 : Nil).

The first half of 2010 was encouraging and, as we move into the second half, our core businesses continue to perform well. Core satellite revenue at 30 June 2010 was substantially up; our subsidiary, SpeedCast, is making excellent progress; and our new partnership with EchoStar is off to a good start. Behind these achievements is the reliability of AsiaSat‟s satellite fleet that delivers consistently high-quality service to our customers. This performance is recognised by the market as we continue to win industry awards for excellence.

I have referred to the recent global economic downturn and to the relatively low impact that it had on our industry and on AsiaSat in particular. That said, while not being complacent, we have full confidence in the services we provide as well as in our core financial strength, debt-free balance sheet and market-leading position. These assets will serve us well in the future.

As I assume the new position of Executive Chairman, I would like to thank Sherwood DODGE for his leadership and valuable contribution to the Company while serving as Chairman of the Board since June 2009.

I would also like to thank the Board of Directors for their confidence in me and for their kind remarks in their March announcement. In turn, on behalf of the Board of Directors and the management and staff of the Company, I would like to congratulate William WADE on his appointment to Chief Executive Officer.

In conclusion, I thank our customers, suppliers and equity holders for their unfailing support and encouragement. I thank my fellow Directors for their valuable contribution, and I thank the staff members of the Group whose outstanding work and commitment is responsible for AsiaSat‟s continued market leadership in the Asia-Pacific region.

Peter JACKSON

Executive Chairman

Hong Kong, 19 August 2010