Intelsat (Luxembourg) S.A. Watch

from S-4/A 10 pages Form of Exchange Agent and Depositary Agreement

from S-4 10 pages Form of Exchange Agent and Depositary Agreement

from S-4 9 pages [Form of Exchange Agent Agreement]

from S-4 5 pages Fifth Supplemental Indenture (This “Fifth Supplemental Indenture”) Dated as of July 3, 2006, Among Intelsat (Bermuda), Ltd., a Company Organized Under the Laws of Bermuda (“Intelsat Bermuda”), Intelsat Intermediate Holding Company, Ltd., a Company Organized Under the Laws of Bermuda and a Direct Wholly Owned Subsidiary of Intelsat Bermuda (“Intermediate Holdco”), Intelsat Subsidiary Holding Company, Ltd., a Company Organized Under the Laws of Bermuda and an Indirect Wholly Owned Subsidiary of Intelsat Bermuda (The “Issuer”) and Wells Fargo Bank, National Association, a National Banking Association, as Trustee Under the Indenture Referred to Below (The “Trustee”)

from S-4 9 pages [Form of Exchange Agent Agreement]

from S-4 4 pages Third Supplemental Indenture (This “Third Supplemental Indenture”) Dated as of July 3, 2006, Among Intelsat (Bermuda), Ltd., a Company Organized Under the Laws of Bermuda (The “New Guarantor”), Intelsat Intermediate Holding Company, Ltd., a Company Organized Under the Laws of Bermuda and a Wholly Owned Subsidiary of the New Guarantor (The “Issuer”), Intelsat, Ltd., a Company Organized Under the Laws of Bermuda (The “Co-Obligor”) and Wells Fargo Bank, National Association, a National Banking Association, as Trustee Under the Indenture Referred to Below (The “Trustee”)

from S-4 5 pages Second Supplemental Indenture (This “Second Supplemental Indenture”) Dated as of July 3, 2006, Among Intelsat (Bermuda), Ltd., a Company Organized Under the Laws of Bermuda (The “Issuer”), Intelsat Intermediate Holding Company, Ltd., a Company Organized Under the Laws of Bermuda and a Wholly Owned Subsidiary of the Issuer (The “Successor”), Intelsat, Ltd., a Company Organized Under the Laws of Bermuda (The “Co-Obligor”) and Wells Fargo Bank, National Association, a National Banking Association, as Trustee Under the Indenture Referred to Below (The “Trustee”)

from S-4/A 4 pages Fourth Supplemental Indenture (This “Fourth Supplemental Indenture”) Dated as of December 28, 2005, Among Intelsat Uk Financial Services Ltd., a Company Organized Under the Laws of England and Wales (The “New Guarantor”), Intelsat Subsidiary Holding Company, Ltd., a Company Organized Under the Laws of Bermuda (The “Issuer”) and Wells Fargo Bank, National Association, a National Banking Association, as Trustee Under the Indenture Referred to Below (The “Trustee”)

from S-4 9 pages [Form of Exchange Agent Agreement]