Eutelsat Communications Reports Strong Increase in Results for 2006-2007

Eutelsat Communications Reports Strong Increase in Results for 2006-2007

PARIS, July 26/PRNewswire-FirstCall/ --

- Revenue Growth of 4.8%, Sustained by Strong Momentum of Video
Applications

- Improvement in Profitability With EBITDA(1) Margin at 78.7%, Maintained
at the Highest Level Among Leading Fixed Satellite Service Operators(2)

- Strong Increase in Consolidated Net Income to 170 Million Euros (40
Million Euros in 2005-2006)

- Proposed Distribution of EUR0.58 Per Share

- EBITDA Margin Objective for 2007-2008 Revised Upwards to Above 77.5%
and Revenue Objective of Between 840 and 850 Million Euros

Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL), one
of the world's leading satellite operators, today reported results for the
year ended June 30, 2007.

Twelve months ended June 30 2006 2007 Change

Key elements of the consolidated income statement

Revenues EURm 791.1 829.1 +4.8%
EBITDA EURm 616.5 652.6 +5.9%
EBITDA margin % 77.9 78.7 +0.8 pt
Consolidated net income EURm 40.2 170.0 N.A.
Diluted earnings per share EUR 0.122 0.718 N.A.

Key elements of the consolidated cash flow statement

Net cash flow from operating activities EURm 501.1 527.7 +5.3%
Capital expenditure EURm 230.9 350.1 +51.6%
Operating free cash flow EURm 270.2 177.6 -

Key elements of financial structure

Net debt EURm 2,228 2,295 +3%
Net debt/EBITDA x 3.6 3.5 -0.1x

Key operational metrics

Backlog EURbn 4.0 3.7 -7.5%
Leased transponders Units 373 404 +8.3%

Commenting on 2006-2007 results, Giuliano Berretta, Chairman
and Chief Executive Officer of Eutelsat Communications said: "This new year
of growth confirms the strong momentum of our markets and the effectiveness
of our strategy which combines the development of our in-orbit resources,
positioning in the most profitable applications of the Fixed Satellite
Services sector, and innovation.

With the launches of our HOT BIRD(TM) 7A and HOT BIRD(TM) 8 satellites we
have substantially renewed capacity at our premium video neighbourhood at 13
degrees East and opened three new orbital positions by redeploying in-orbit
satellites. The opening of the 9 degrees East position, which can be combined
with the HOT BIRD(TM) neighbourhood for television channel reception with a
single antenna, brings the Group important potential for development in
Europe and the Mediterranean Basin. As a result of the priority allocation of
additional resources to Video Applications in order to support the strong
dynamic of digital broadcasting, we have been able to increase the share of
video in our business portfolio to over 72%, thereby reinforcing strong
visibility on revenues.

In parallel, we have continued to develop our portfolio of value added
services on Internet markets, with a strong focus on addressing corporate and
local administrations, and have launched new broadband access solutions for
the specific markets of business aviation and rail transport.

Encouraged by this year's excellent performance, by our privileged
position in emerging markets and by prospects for growth presented by
high-definition television and mobile services, we are confident in our
ability to pursue earnings growth over the long-term. Our revenue target for
2007/2008 is between 840 and 850 million euros and we have revised upwards
our EBITDA margin objective to above 77.5%."

EXCELLENT OPERATING PERFORMANCE

- Revenue growth of 4.8% associated with an increase of Video
Applications, the most profitable segment of the FSS(3) industry, to 72.2% of
total consolidated revenue(4)

- Continuing long term visibility secured by 3.7 billion euro backlog

- In-orbit resources strengthened and optimised with 43 additional
operating transponders and opening of 3 new orbital positions

Revenue growth of 4.8%(5), driven by strong momentum of Video
Applications

Revenues by business application (in millions of euros)

12 months ended June 30 2006 2007 % change

Video Applications 528.6 590.4 +11.7
Data & Value Added Services 169.1 159.0 -6.0
Multi-usage 69.7 59.1 -15.1
Other 6.3 9.2 N.A.
Sub-total 773.7 817.7 +5.7
One-off revenues(6) 17.4 11.4 -34.5
Total 791.1 829.1 +4.8

Full year 2006-2007 revenues include 11.4 million euros of penalties
related to late delivery of the HOT BIRD(TM) 7A satellite. Excluding one-off
revenues and at a constant exchange rate, revenue growth came at 6.8%.

In order to support the current momentum of digital broadcasting markets
which are particularly sustained in Europe, Russia, the Middle East and
Africa, the Group significantly strengthened resources dedicated to Video
Applications, with:

- the continuing renewal of capacity at the HOT BIRD(TM) neighbourhood.

- the opening of new orbital positions.

- the reallocation of capacity previously used for other applications
which became available following the expiry of contracts.

As a consequence, Video Applications represent 72.2% of activity
(excluding one-off revenues), confirming the Group's excellent visibility on
revenues.

Consolidated revenues by business application, excluding one-off revenues

12 months ended June 30 2006 2007

Video Applications 67% 72.2%
Data & Value Added Services 21% 19.4%
Multi-usage 9% 7.3%
Other 3% 1.1%
Total 100% 100%

Video Applications: strong growth (+11.7%) driven by dynamic of emerging
markets and allocation of additional in-orbit resources

In 2006-2007, Video Applications showed an increase of 61.8 million
euros, to 590.4 millions euros, strengthening the Group's leadership in
extended Europe(7) and reflecting strong development in Russia, central
and eastern Europe, the Middle East and Africa. The main elements were:

- 23% year-on-year growth in the number of channels broadcast across
Eutelsat's fleet:

- In European Union countries served by the HOT BIRD(TM) (13 degrees
East) and EUROBIRD(TM) 1 (28.5 degrees East) premium video neighbourhoods,
channels increased by 13%. At the end of the fiscal year, the Group's leading
HOT BIRD(TM) neighbourhood, which was strengthened in October 2006 by the
entry into service of HOT BIRD(TM) 8, was broadcasting 1,097 channels to 121
million cable and satellite homes in extended Europe, of which close to 48
million homes are equipped for Direct-to-Home (DTH) reception.

- Benefiting from strong take-up of digital broadcasting markets in
Russia, central and eastern Europe, the Middle East and Africa, the Group's
other major video neighbourhoods showed a 47% increase in channels broadcast.
This growth was particularly supported by the 7 degrees West and 25.5 degrees
East positions serving the Middle East. It is also demonstrated by the
expansion of the pay-TV platforms Total TV in Serbia, TV Romania in Romania,
NTV+ and Tricolor in Russia, Digiturk in Turkey, and MultiChoice Africa and
Gateway in Africa.

- The opening of the 7 degrees West position, with the entry into service
in July 2006 of ATLANTIC BIRD(TM) 4, followed by the opening of the 9 degrees
East position with the relocation in May 2007 of EUROBIRD(TM) 9, enabled the
activation of contracts signed respectively with the Egyptian operator
Nilesat and Portugal's new pay-TV platform TV Tel.

- At June 30, 2007, Eutelsat's fleet was broadcasting 22 HDTV channels
(compared with 12 channels at June 30, 2006) of which 17 are commercial
channels and five are promotional channels.

Number of channels broadcast by Eutelsat's fleet

Change over 1 year
As of June 30 2006 2007 Units In %

Premium video neighbourhoods 1,227 1,381 154 +13%
Major video neighbourhoods(8) 759 1,113 354 +47%
Other orbital positions 135 114 -21 -16%
Total 2,121 2,608 +487 +23%

Data and Value Added Services: ongoing development of Value Added
Services (+5.0%), notably the D-STAR broadband access service

With the transformation of certain short-term contracts into long-term
contracts and the reallocation to Video Applications of capacity made
available with the expiry of certain contracts, revenue from Data Services
was down by 11.6 million euros, to 127.6 million euros.

Conversely, Value Added Services revenues confirm a steady growth of 5.0%
over the fiscal year, to 31.4 million euros. This activity is mainly
dedicated to high-speed Internet access in areas not served by terrestrial
networks. It was particularly sustained by continued deployment of the D-STAR
broadband Internet access service. As of June 30, 2007, 7,424 D-STAR
terminals were activated, representing an increase of 40% over the fiscal
year. Sub-Saharan Africa and North Africa accounted for more than half of
this growth, with 1,326 additional terminals activated over the period,
demonstrating strong demand in these markets.

During the fiscal year 2006-2007, the Group continued to
extend Value Added Services with the development of new broadband Internet
access solutions for mobile markets:

- Business aviation(9) : the Group launched a new service based
on D-STAR which provides business jet passengers with office-in-the-sky
communications, including in-flight Internet access in European airspace.
The new service has been selected by ARINC, a world leader in aviation
communications, which has already deployed the service for over 40
business jets.

- Rail transport: Eutelsat has partnered with Alstom, Orange and
Cap Gemini to provide the SNCF, the French national railway operator,
with a turnkey multimedia portal and Internet access service which is
currently being tested.

Multi-usage: growth in government services

Revenues mainly reflect the reallocation to Video Applications of certain
capacity previously leased to the satellite operator Arabsat following the
expiry in April 2007 of the corresponding contract, and the depreciation of
the US dollar against the Euro.

Within this segment, government services revenue grew 8.3% over the
fiscal year 2006-2007, reflecting renewal of all contracts which had expired
during the period under review, as well as signature of additional contracts
following the entry into service of EUROBIRD(TM) 4 which offers strong
coverage of the Middle East.

Continuing excellent visibility secured by backlog

Main backlog(10) indicators

As of June 30 2005 2006 2007

Value of contracts (in billion euros) 3.1 4.0 3.7
Weighted average residual life of contracts (in 7.0 7.7 7.3
years)
Share of Video Applications 87% 92% 92%

At 3.7 billion euros, the backlog represents 4.5 times annual
revenues(11). The slight erosion of the backlog compared with June 30, 2006
reflects the higher average fleet age, a major part of the backlog being
composed of contracts for the entire operational life of the corresponding
satellite, which are generally concluded or renewed upon entry into service
of new satellites.

The backlog and its profile provide the Group with long-term visibility
on revenues and operating cash flows.

In-orbit resources increased with opening of 3 new orbital positions

During fiscal year 2006-2007, the Group continued to renew, develop and
optimise its in-orbit resources. As of June 30, 2007, the Group was operating
24(12) satellites from 20 orbital positions.

The entry into service of HOT BIRD(TM) 7A and HOT BIRD(TM) 8(13)
at the 13 degrees East neighbourhood enabled the renewal of capacity at
this premium position and the redeployment of three satellites to new orbital
positions, increasing the number of operational transponders from 462 to 505:

- From 7 degrees West, ATLANTIC BIRD(TM) 4 offers a high-power
footprint optimised in particular to serve the Middle East and North
Africa for DTH broadcasting.

- From 9 degrees East, EUROBIRD(TM) 9, whose technical
characteristics are similar to the HOT BIRD(TM) satellites, allows
households equipped with off-the-shelf dual-feed domestic dishes to
receive channels from 13 and 9 degrees East. EUROBIRD(TM) 9 also brings
additional capacity adjacent to the premium HOT BIRD(TM) video
neighbourhood to support customer growth across Europe, notably for High
Definition Television and for pay-TV platforms targeting linguistic
communities.

- From 4 degrees East, EUROBIRD(TM) 4 allowed the activation of
capacity leases for Multi-usage applications over the Middle East.

Increase of 8.3% in the number of leased transponders as of June 30, 2007

Capacity available in stable orbit and number of leased transponders (in
units)

As of June 30 2005 2006 2007

Operational transponders(14) 474 462 505
Leased transponders 343 373 404
Fill rate (%)(15) 72.4% 80.7% 80.0%

The Group's strong commercial performance is reflected in the lease of 31
additional transponders at June 30, 2007 compared to June 30, 2006. This
increase is mainly attributable to:

- Growth in emerging markets, in particular at major video
neighbourhoods, which is fully in line with Group strategy.

- A fill rate maintained above 95% at premium video neighbourhoods.

CONTINUED IMPROVEMENT OF FINANCIAL INDICATORS

- Improvement in profitability with EBITDA(16) margin at 78.7%,
maintained at the highest level among leading Fixed Satellite Service
operators(17)

- Strong decrease in interest charges reflecting refinancing of senior
debt

- Substantial reduction of effective tax rate following simplification of
corporate structure

- Strong increase in consolidated net income at 170.0 million euros (up
129.8 million euros)

Extract from the consolidated income statement (in millions of euros)(18)

12 months ended June 30 2006 2007 Variation %

Revenues 791.1 829.1 +4.8%
Operating expenses(19) (174.6) (176.5) +1.1%
EBITDA 616.5 652.6 +5.9%
EBITDA margin (as a % of revenues) 77.9% 78.7% +0.8 pt
Depreciation and amortisation(20) (285.8) (300.8) +5.3%
Other operating revenues (costs)(21) (27.0) 10.8 N.A.
Operating income 303.7 362.5 +19.4%
Operating margin (%) 38.4% 43.7% +5.3 pts

At only 21.3%, operating expenses as a percentage of revenues decreased
by nearly one percentage point owing to continued tight control over cost
structure. In particular, while maintaining the same level of coverage, the
Group reduced its in-orbit insurance costs upon renewal of the annual
contract in November 2006.

Combined with the excellent commercial performance over the fiscal year,
this strict management translates into EBITDA growth of nearly 6%. Excluding
one-off revenues, the EBITDA margin would have been 78.4%.

The 5.3% increase in depreciation and amortisation expenses is mainly due
to:

- Entry into service in October 2006 of HOT BIRD(TM) 8.

- Accounting over the entire fiscal year of HOT BIRD(TM) 7A which entered
into service in April 2006.

These two operations fully offset the decrease in depreciation expenses
related to the depreciation of EUROBIRD(TM) 4 (formerly HOT BIRD(TM) 3) and
to the extension of the estimated lifetime of certain satellites.

Other operating revenues (costs) mainly include:

- 37.5 million euros income related principally to insurance
compensations for the damage incurred following the technical incident on
the W1 satellite during the previous fiscal year, for which agreements
were reached during fiscal year 2006-2007.

- 25.0 million euros expense corresponding to the depreciation of
EUROBIRD(TM) 4 following the technical incident on October 4, 2006.

Operating income consequently increased by 58.8 million euros, taking the
operating margin up to 43.7%.

Extract from the consolidated income statement (in millions of euros)

12 months ended June 30 2006 2007 Variation
(%)

Operating income 303.7 362.5 +19.4
Financial result (179.6) (108.2) -39.8
Income from equity investments 5.8 7.9 +36.2
Income tax (89.7) (92.2) +2.8
Consolidated net income 40.2 170.0 N.A.
Minority interests 9.8 10.6 +8.2
Net income Group share 30.4 159.4 N.A.

Combined with the 19.4% growth in operating income, the 129.8 million
euro year-on-year increase in consolidated net income is attributable to:

- Absence of the non-recurring net charge (44.5 million euros)
taken in the previous fiscal year in relation to debt restructuring.

- Decrease by 26.9 million euros in interest charges resulting from
the refinancing of senior debt during the previous fiscal year and
reduction of the fiscal year average debt following the IPO in December
2005.

- Substantial improvement in the effective tax rate at 36.3% for
fiscal year 2006-2007 following the simplification of the Group's
corporate structure which was achieved according to plan.

- Growth in income from equity investments reflecting the excellent
financial performance of Hispasat, the leading satellite operator in
Spanish and Portuguese-language markets, of which Eutelsat owns 27.69%.

SOLID FINANCIAL STRUCTURE

- Net cash flow from operating activities representing 64% of revenues

- Net debt to EBITDA ratio stable at 3.5x, compared with June 30, 2006

Net cash flow from operating activities rose 5.3% to 528 million euros.
Compared with the previous fiscal year, the 91 million euros decrease in
operating free cash flow(22) reflects a 119 million euros increase in capital
expenditure at 350 million euros. These are notably dedicated to the launch
of HOT BIRD(TM) 8, to the manufacturing of HOT BIRD(TM) 9 and W2M, as well as
to the procurement during the fiscal year of HOT BIRD(TM) 10, W2A and W7.

Compared with a year ago, net debt(23) was up 67 million euros as of June
30, 2007, reflecting the investment programme and the consolidated
distribution in November 2006 of 124 million euros.

As a reminder, financial debt is completely hedged against
interest rates fluctuations, wholly until November 2011 and partly until June
2013.

INNOVATION AND IN-ORBIT INFRASTRUCTURE

AT THE HEART OF THE INVESTMENT POLICY

During fiscal year 2006-2007, Eutelsat Communications pursued
its strategy to strengthen its in-orbit infrastructure and to invest in new
technologies through:

- HOT BIRD(TM) 10: this high-power satellite equipped with 64
Ku-band transponders will be dedicated to video broadcasting from the 13
degrees East neighbourhood. With similar technical characteristics to HOT
BIRD(TM) 8 and HOT BIRD(TM) 9, it will allow the Group to operate the HOT
BIRD(TM) position with three satellites, each able to substitute any of the
others, thereby completing the customer redundancy programme at this
location. The entry into service of HOT BIRD(TM) 9 which was ordered during
the previous fiscal year, followed by that of HOT BIRD(TM) 10 will also
enable redeployment of HOT BIRD(TM) 7A (38 transponders) to 9 degrees East
and HOT BIRD(TM) 6 (32 transponders) to another location.

- W7: this satellite will be equipped with 70 Ku-band
transponders connected to six beams serving Europe, Russia, Africa, the
Middle East and Central Asia. To be copositioned with Eutelsat's W4
satellite, its mission will be to replace the Ku-band capacity of the SESAT 1
satellite and expand Group capacity at 36 degrees East.

- W2A: equipped with 46 Ku-band transponders, its main mission
will be to replace and expand capacity of the W1 satellite at 10 degrees East
for video applications, and broadband services across Europe, Africa and the
Middle East. Also equipped with a 10-transponder C-band payload, W2A will
boost the Group's C-band capacity for services across Africa.

- W2A will also be equipped with an S-band payload to be
operated in partnership with SES, which will offer bidirectional services
and, for the first time in Europe, mobile multimedia broadcast services
(mobile TV, radio...) directly to user terminals.

OUTLOOK

For fiscal year 2007-2008, Eutelsat Communications has the following
objectives, assuming constant scope of consolidation:

- revenues of 840 to 850 million euros, or between 2.7% and 4%
growth, based on 2006-2007 revenues, excluding one-off revenues.

- EBITDA margin revised upward to above 77.5%.

ATTRACTIVE DISTRIBUTION POLICY

The July 25, 2007, Board of Directors decided to submit to the approval
of shareholders the distribution of EUR0.58 per share to be taken from the
"Share Premium".

Going forward, Eutelsat Communications policy is to distribute to
its shareholders between 50% and 75% of net income Group share.

OTHER INFORMATION

CORPORATE GOUVERNANCE

Pier Francesco Guarguaglini, Chairman and CEO of Finmeccanica, was
coopted by the July 25, 2007 Board of Directors of Eutelsat Communications to
replace Frank Dangeard, Chief Operating Officer of Thomson who resigned his
post.

The May 10, 2007, Board of Directors' meeting also coopted Jean-Luc
Archambault, CEO of Lysios, and Bertrand Mabille, COO of SFR Entreprises, to
replace Patrick Sayer, Chairman of the Executive Board of Eurazeo, and
Gilbert Saada, Director of Investments and Executive Board member of Eurazeo.
These mandates are for four years.

These decisions of the Board of Directors will be submitted to
shareholder approval at the next annual shareholders meeting.

The Board of Directors of Eutelsat Communications is now composed of 10
directors of which two are independent.

APPOINTMENT OF A NEW CHIEF FINANCIAL OFFICER

To be effective on September 17, 2007, the Group appointed Catherine
Guillouard as Chief Financial Officer and member of the Group Executive
Committee, in replacement of Claude Ehlinger. Born in 1965 and graduated from
the French National School of Administration (Ecole Nationale
d'Administration), 1991-1993 Gambetta promotion, Mrs Guillouard held a number
of positions within the French Treasury Department (Direction du Tresor)
before joining Air France in 1997. She has held a number of positions within
the Air France Group and since January 2005 has occupied the post of Senior
Vice-President, Finance.

RECENT EVENTS

- Liquidity offer: Eutelsat Communications announced today its
intention to launch, at the end of August 2007, an offer to buy up to 11
million ordinary shares of its non-listed subsidiary Eutelsat S.A.,
representing slightly over 1.1% of the capital, of which 2 million shares
are currently held by employees.

As of June 30, 2007, Eutelsat Communications held 95.24% of
the share capital of Eutelsat S.A..

The consideration would be either in cash or through exchange
in ordinary shares of Eutelsat Communications. The maximum dilution arising
from this transaction is estimated at close to 3.4 million shares of Eutelsat
Communications, which represent 1.56% of the share capital.

- S-band: the European Commission has cleared the set-up of a joint
venture with SES Astra to operate an S-band payload on the W2A satellite.

- Satellite Ka-Sat: the Board of Directors held on July 25, 2007
authorised the Group to acquire a Ka-band satellite.

Consolidated financial statements and corporate accounts available at
http://www.eutelsat.com

Conference call

Eutelsat Communications will hold a conference call in English today for
analysts and investors to comment on its earnings. The call will start at
15:00 Paris time (New York: 09.00, London: 14.00). Call-in numbers are
+44-207-138-0845 and +1-718-354-1152 in English, and
+33-1-70-99-42-67 for the translation into French.

A presentation will be available on the Group's website
(http://www.eutelsat.com) from 08:00 Paris time on July 26, 2007.

A replay of the call will be available at 18:30 Paris time until August
3, 2007, midnight, by dialling: +44-207-806-1970 or +1-718-354-1112 (in
English), or +33-1-71-23-02-48 (translation into French), access code:
9044672#.

Financial calendar

- November 6, 2007: revenues for first quarter ended September
30, 2007

- November 9, 2007: annual shareholders' meeting.

The above financial calendar is provided for information
purposes only. It is subject to change and will be regularly updated.

About Eutelsat Communications

Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is
the holding company of Eutelsat S.A.. With capacity commercialised on 24
satellites that provide coverage over the entire European continent, as well
as the Middle East, Africa, India and significant parts of Asia and the
Americas, Eutelsat is one of the world's three leading satellite operators in
terms of revenues. At 30 June 2007, Eutelsat's satellites were broadcasting
over 2,600 television channels and 1,100 radio stations. More than 1,000
channels broadcast via its HOT BIRD(TM) video neighbourhood at 13 degrees
East which serves over 120 million cable and satellite homes in Europe, the
Middle East and North Africa. The Group's satellites also serve a wide range
of fixed and mobile telecommunications services, TV contribution markets,
corporate networks, and broadband markets for Internet Service Providers and
for transport, maritime and in-flight markets. Eutelsat's broadband
subsidiary, Skylogic, markets and operates services through teleports in
France and Italy that serve enterprises, local communities, government
agencies and aid organisations in Europe, Africa, Asia and the Americas.
Headquartered in Paris, Eutelsat and its subsidiaries employ 529 commercial,
technical and operational experts from 27 countries.

http://www.eutelsat.com

Appendix

Quarterly revenues by business application

Three months ended
In millions of euros 30/09/2006 31/12/2006 31/03/2007 30/06/2007

Video Applications 142.8 147.0 148.8 151.8
Data & Value Added Services 40.8 40.8 39.2 38.2
Multi-usage 14.7 14.8 15.1 14.6
Other 1.3 1.9 2.5 3.6
Sub-total 199.5 204.4 205.7 208.1
One-off revenues - 11.4 - -
Total 199.5 215.8 205.7 208.1

Share ownership structure as of June 30, 2007(24)

In percentage Economic rights Voting rights
Abertis Telecom 31.74% 31.74%
CDC Infrastructure(25) 25.94%(26) 25.94%
Public 42.32% 42.32%

Satellite launch schedule

Satellite Launch date schedule Transponders
W2M Sept.-Dec. 2008 26 Ku
HOT BIRD(TM) 9 Jun.-Aug. 2008 64 Ku
HOT BIRD(TM) 10 Jan.-Mar. 2009 64 Ku
W2A Jan.-Mar. 2009 46 Ku / 10 C / S
W7 Jun.-Aug. 2009 70 Ku

Note: In order to assess when a new satellite should enter into service,
an additional one to two months should be assumed after launch date.

(1) EBITDA is defined as operating income before depreciation,
amortisation and other operating income/charges (impairment charges, dilution
profits (losses), insurance compensations, etc.).

(2) SES, Eutelsat Communications, Intelsat

(3) Fixed Satellite Services

(4) Based on revenues excluding one-off revenues

(5) At constant exchange rate, revenue growth was 5.9%

(6) Non-recurring revenues comprise late delivery penalties and outage
penalties.

(7) Extended Europe is defined as Western Europe, Central and Eastern
Europe, Russia and Central Asia, Middle East, North Africa and Sub-Saharan
Africa

(8) Orbital positions 7 degrees West (Middle East, North Africa), 36
degrees East (Russia, Africa), 16 degrees East (Central Europe), 7 degrees
East (Turkey), 5 degrees West (France), 9 degrees East (Europe) and 25.5
degrees East (Middle East)

(9) See press release dated January 4, 2007.

(10) Backlog represents future revenues from capacity lease agreements
(including contracts for satellites yet to be delivered). These capacity
lease agreements can be for the entire operational life of the satellites.

(11) Based on revenues excluding one-off revenues

(12) Eutelsat operates capacity on the Telecom 2C satellite which is in
inclined orbit.

(13) HOT BIRD(TM) 7A went into service in April 2006 and HOT BIRD(TM) 8 went
into service in October 2006.

(14) Number of Eutelsat's fleet transponders in stable orbit as of June
30, 2007, excluding 28 Ku-band spare transponders at the HOT BIRD(TM)
neighbourhood.

(15) The utilisation rate is based on Eutelsat's fleet capacity in stable
orbit, excluding capacity on Telecom 2D and Telecom 2C which are both in
inclined orbit.

(16) EBITDA is defined as operating income before depreciation,
amortisation and other operating income/charges (impairment charges, dilution
profits (losses), insurance compensations, etc.).

(17) SES, Eutelsat Communications, Intelsat.

(18) For more detail, please refer to the Group consolidated
financial statements.

(19) Operating expenses are defined as cost of operations plus
sales & administrative expenses.

(20) Comprises amortisation expense of 44.5 million euros corresponding
to the intangible asset "Customer Contracts and Relationships" identified
during the acquisition of Eutelsat S.A. by Eutelsat Communications.

(21) In fiscal year 2005-2006, other operating costs were
primarily due to a 24.9 million euros impairment of the value of the W1
satellite following the technical incident on August 10, 2005.

(22) Operating free cash flow is defined as net cash flow from operating
activities less acquisition of satellites and other property, plant and
equipment, net of disposals.

(23) Net debt includes all bank debt and all liabilities from long-term
lease agreements, less cash and cash equivalents and marketable securities
(net of bank credit balances).

(24) Based on information brought to the knowledge of the Company.

(25) CDC Infrastructure is a subsidiary of Caisse des Depots et
Consignations.

(26) Including 0.65% owned by CDC Fonds Propres (subsidiary of Caisse des
Depots et Consignations).

For further information
Press
Vanessa O'Connor
Tel: +33-1-53-98-38-88
voconnor@eutelsat.fr

Frederique Gautier
Tel: +33-1-53-98-38-88
fgautier@eutelsat.fr

Investors
Gilles Janvier
Tel: +33-1-53-98-35-30
investors@eutelsat-communications.com

Source: Eutelsat Communications

For further information: Press: Vanessa O'Connor, Tel: +33-1-53-98-38-8, voconnor@eutelsat.fr; Frederique Gautier, Tel: +33-1-53-98-38-88, fgautier@eutelsat.fr; Investors: Gilles Janvier, Tel: +33-1-53-98-35-30, investors@eutelsat-communications.com

-------
Profile: intent