Intelsat names McGlade as acting CFO

Intelsat has accepted the
resignation of its Chief Financial Officer, Jeffrey Freimark, to be
effective June 5, 2008. Mr. Freimark is leaving to pursue other
opportunities. Intelsat
’s Chief Executive
Officer, David McGlade, has been appointed Acting Chief Financial
Officer, and will continue to serve as CEO. An external search for a
permanent CFO has commenced.

Mr. McGlade stated, “Jeff ’s
oversight of the PanAmSat acquisition financing and his involvement in
the integration process, together with his focus on assuring our
compliance with the Sarbanes-Oxley Act, were important factors in our
corporate success over the past few years. We thank him for his
contributions to Intelsat, and we wish him the best in his future
endeavors. Our business is performing well. Last month, Intelsat
reported a strong quarter with record revenues and successfully launched
the Galaxy 18 satellite. We remain focused on executing our proven
business plan. ”