FINANCIAL HIGHLIGHTS
                     (Amounts in millions of US dollars)
 
                                                         Three months ended
                                                              March 31,
                                                         2003           2002
     Statement of Operations Data:
     Revenue                                            $20.8          $22.6
     EBITDA                                              11.2           13.0
     Operating income (loss)                             (0.7)           1.2
     Interest expense, net*                              (7.8)         (10.0)
     Loss before income taxes                            (8.4)          (8.9)
 
     *Includes net foreign exchange gain (loss)
 
     Other Data:
     Capital expenditures
      Construction in progress-Satmex 6                  11.1           30.2
      Other, net                                          0.0            0.1
 
     Non-Financial Data:
     Bookings                                            16.1           29.7
 
 
                                                       March 31, December 31,
 
                                                         2003           2002
     Non-Financial Data:
     Backlog                                            287.3          328.8
 
     Balance Sheet Data:
     Cash and cash equivalents                           16.3           26.8
     Restricted and segregated cash                                      6.8
     Other current assets                                17.1           18.3
     Total current assets                                33.4           51.9
 
     Fixed assets                                       954.3          955.1
 
     Other assets                                         4.0            4.1
 
     Total assets                                       991.7        1,011.1
 
     Current maturities of long-term debt                 1.0            1.0
     Total current liabilities                           21.3           31.0
 
     Total long-term debt                               523.1          523.4
 
     Total liabilities                                  629.7          642.4
     Total stockholders' equity                         362.0          368.7
 
     Total liabilities and stockholders' equity         991.7        1,011.1