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PanAmSat Corp. Moves Headquarters

July 30, 2001

WILTON, Conn. (AP) _ PanAmSat Corp., which provides global video and data broadcasting services via satellite, announced Monday it consolidated its headquarters from four locations in Greenwich into one complex in Wilton.

The new, 75,000-square-foot headquarters will enable the company to reduce operating expenses and improve efficiencies and communications between departments, PanAmSat said.

``For the first time in five years, all of our professionals employed at the corporate headquarters are under the same roof, increasing the exchange of ideas and cooperation between multiple organizations that serve our customers,″ said R. Douglas Kahn, PanAmSat’s president and chief executive officer.

PanAmSat operates a network of 21 in-orbit spacecraft and seven technical facilities to deliver entertainment and information to cable television systems, TV broadcast facilities, Internet service providers and others. PanAmSat has 900 employees and is 81 percent owned by Hughes Electronics Corp., a unit of General Motors Corp.

PanAmSat fell $1.52 to $32.98 in afternoon trading on the Nasdaq Stock Market.

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On the Net:

http://www.panamsat.com

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