SingTel and ProtoStar Announce Joint TT&C and Capacity Agreements

New Asian DTH Satellite Operator to Utilize SingTel’s Tracking, Telemetry and Control (TT&C) Center and SingTel to Lease Capacity on ProtoStar’s First Satellite

Singapore and San Francisco, CA, November 26, 2007 -- ProtoStar Ltd., a Bermuda corporation, and Singapore Telecommunications Ltd. (SingTel) announced a two-pronged agreement today for SingTel to provide ProtoStar with satellite control services and at the same time lease C-band capacity on ProtoStar’s first satellite.

In making the joint announcement in Singapore, Philip Father, President and CEO of ProtoStar Ltd., and Titus Yong, SingTel’s Vice President for Satellite, emphasized the growing strategic relationship that these agreements represent for the two organizations.

“The agreement with ProtoStar is significant because it enables SingTel to extend its existing coverage into new markets,” Mr. Yong said. “This further strengthens our position as Asia’s leading communications group. It also clearly demonstrates SingTel’s ability to offer comprehensive managed satellite solutions, and not just bandwidth services.”

For ProtoStar, the agreement supports its strategy of selectively outsourcing support programs and provides a quality anchor customer for ProtoStar I’s extensive C-band capacity.

“ProtoStar has been working closely with SingTel for some time on joint opportunities, so these agreements now formalize what has been a positive evolving strategic partnership,” Mr. Father said while in Singapore. ”The decision to locate our new Asian headquarters office in Singapore is consistent with our desire to continue to develop our relationships with both SingTel and the Infocomm Development Authority.”

Mr. Yong added, “SingTel’s innovations are transforming the way satellite operators do business. Our value-added services and applications reduce costs for our customers and boost their business productivity.”

Under terms of the agreement, Sing Tel will augment its operations center in Singapore to provide telemetry, tracking and control (TT&C) services for the ProtoStar I satellite. ProtoStar I is currently being manufactured at Space Systems/Loral in Palo Alto, CA, for a May 2008 launch on an Arianespace launch vehicle. ProtoStar is developing a satellite constellation of high-powered geostationary satellites that will provide a satellite network enabling robust direct-to-home (DTH) television services in Asia.

About ProtoStar
ProtoStar, a Bermuda corporation with U.S. operations in San Francisco, California and Asian operations headquartered in Singapore, was formed to acquire and operate high-power geostationary satellites optimized for DTH satellite television in the Asia-Pacific region. The firm is led by seasoned veterans from the satellite, direct-to-home television, telecommunications and finance industries. For more information, visit: www.protostarsat.com.

About Singapore Telecommunications Limited (SingTel)
SingTel is Asia's leading communications group with operations and investments around the world. Serving both the corporate and consumer markets, it is committed to bringing the best of global communications to customers in the Asia Pacific and beyond.

With significant operations in Singapore and Australia (through wholly-owned subsidiary SingTel Optus), the Group provides a comprehensive portfolio of services that include voice and data services over fixed, wireless and Internet platforms.

To serve the needs of multi-national corporations, SingTel has a network of 37 offices in 19 countries and territories throughout Asia Pacific, Europe and the United States. These offices enable SingTel to deliver reliable and quality network solutions to its customers, either on its own or jointly with local partners.

The Group also has major investments in Bangladesh, India, Indonesia, the Philippines and Thailand. It recently announced its latest investment in Warid Telecom in Pakistan. Together with its associated companies, SingTel will have a major presence in eight regional cellular markets with a total of more than 130 million customers.

SingTel employs more than 19,000 people worldwide and had a turnover of S$13.15 billion (US$8.40 billion) and net profit after tax of S$3.78 billion (US$2.42 billion) for the year ended 31 March 2007. More information can be found at www.singtel.com.