Satmex Announces Appointment of New Chief Executive Officer

Dec 01, 2006, 00:00 ET from Satmex

    MEXICO CITY, Dec. 1 /PRNewswire/ -- Satelites Mexicanos, S.A. de C.V.
 ("Satmex" or the "Company"), Mexico's leading satellite service provider,
 today announced that it has appointed Raul Cisneros Matusita to serve as
 the new CEO of Satmex, effective November 30, 2006, to help chart a new
 direction for the Company. Mr. Cisneros's appointment was made on the same
 day the Company officially concluded its U.S. bankruptcy case.
     Mr. Cisneros brings to Satmex over 22 years of experience, specializing
 in turnaround strategies, asset sales and restructurings. Most recently, he
 has been an operative partner of Advent International Corp., supervising
 investments in mortgage lending institutions, leasing operations and
 turnaround of distressed assets. He was also Deputy Director General of
 Compania Mexicana de Aviacion through January of 2006, entrusted with the
 successful sale of Mexico's leading airline to Grupo Posadas, and for three
 years, Director of Asset Administration and Financial Planning. For five
 years, he was the CEO of Consultoria Internacional, a leading foreign
 exchange trader and from 1996 to 1999, he was appointed by Banco de Mexico
 to turnaround or sell troubled corporations.
     Mr. Cisneros succeeds Sergio Miguel Angel Autrey Maza, who was
 designated by Satmex's Board as interim CEO in February 2005. Mr. Autrey
 will continue serving as a member of Reorganized Satmex's Board of
     Mr. Cisneros, stated: "It is an honor to take the reins of this great
 company. I am excited about the opportunity to work together with the
 entire Satmex team and with our customers, suppliers and shareholders and
 other constituents towards long-term success."
     Mr. Cisneros added that, "The Company is pleased that in only a matter
 of a few months, it exited its U.S. bankruptcy case having achieved the
 implementation of its restructuring set out in the restructuring agreement
 entered into between Satmex and representatives of its primary creditor
 constituencies in March of this year and approved by the Mexican Bankruptcy
 Court in Satmex's former Concurso Mercantil proceeding. This is a historic
 day for the employees of Satmex and everyone else that worked tirelessly to
 achieve these goals. The restructuring of our indebtedness and our speedy
 emergence from chapter 11 will enhance our financial stability and enable
 us to continue delivering our premier satellite services to our customer
 base going forward."
     Safe Harbor Disclosure: This press release contains forward-looking
 statements within the meaning of the Securities Act of 1933 and of the
 Securities Exchange Act of 1934. Such forward-looking statements include,
 but are not limited to, those related to Satmex's future performance.
 Forward- looking statements are not intended to be a guarantee of future
 results, but instead constitute Satmex's current expectations based on
 reasonable assumptions. Actual results could differ materially from those
 stated in Satmex's forward-looking statements due to risks, uncertainties
 and other factors. Important factors that could affect actual results are
 discussed in Satmex's filings with the Securities and Exchange Commission,
 including, but not limited to, the risks discussed under Item 3 "Risk
 Factors" in Satmex's 2005 Annual Report on Form 20-F. Readers are
 encouraged to read Satmex's filings to learn more about the risk factors
 associated with Satmex's business. Satmex undertakes no obligation to
 update or revise any forward- looking statements, whether as a result of
 new information, future events or otherwise.