Satmex Responds to Noteholders' Involuntary Chapter 11 Filing

May 27, 2005, 01:00 ET from Satmex

    MEXICO CITY, May 27 /PRNewswire/ -- Yesterday, Satelites Mexicanos, S.A.
 de C.V. (Satmex) received notification that certain of its creditors had filed
 a chapter 11 involuntary petition in the U.S. Bankruptcy Court for the
 Southern District of New York seeking a financial reorganization.
     Satmex anticipated this filing as one of several likely scenarios. The
 company is currently evaluating its options and will respond appropriately in
 the near term.
     Satmex intends to maintain continuous communication with its
 counterparties during this process with the objective of working
 collaboratively toward an equitable and just solution to its financial
     Satmex has explained the steps it has taken to its customer base, in
 anticipation of this possibility, ensuring the continuity of the company's
 world-class customer service and of day-to-day operations.
      For further information, please contact:
      Guillermo de la Mora
      for Satmex