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PANAMSAT ISSUING PROXY FOR MERGER

GREENWICH, Conn.-PanAmSat Corp. said it will issue to its shareholders a proxy statement detailing the planned merger of PanAmSat and the Galaxy satellite services business of Hughes Communications Inc.

The U.S. Securities and Exchange Commission recently reviewed and declared effective the new company’s registration statement. Approval of the merger by PanAmSat shareholders is the final step to conclude the merger. Shareholders will vote during a meeting May 8.

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