Hong Kong, 12 September, 2007 – Asia Satellite Telecommunications Company Limited (“AsiaSat”) has acquired majority control of Speedcast through the acquisition of the 23.39% and 1.26% stakes of Tech System Limited (TSL) and of Yahoo! Inc., respectively. 

SpeedCast, headquartered in Hong Kong, is one of the fastest growing VSAT operators in Asia, with over 150% annual compounded revenue growth since 2001. The company offers a full range of satellite telecommunications services including broadband access, corporate networking, voice, multimedia content and internet content distribution services in over 25 countries in the Asia Pacific region.

Phoenix Corporate Finance Partners LLP acted as exclusive financial adviser to the selling shareholders of Speedcast.

The transaction marks the nineteenth announced TMT situation on which Phoenix partners have advised since 2004. 

About AsiaSat
AsiaSat, the leading regional satellite operator in Asia, serves over two-thirds of the world's population with its three satellites, AsiaSat 2 at 100.5ºE, AsiaSat 3S at 105.5ºE and AsiaSat 4 at 122.2ºE. The AsiaSat satellite system provides services to both the broadcast and telecommunications industries. Over 270 television channels and 130 radio channels are now delivered by the company's satellites, reaching over 96 million households, with more than 360 million viewers across the Asia Pacific region. Many telecommunications customers use AsiaSat for services such as public telephone networks, private VSAT networks and high speed Internet and multimedia services. AsiaSat is a wholly-owned subsidiary of Asia Satellite Telecommunications Holdings Limited, listed on both the Hong Kong (SEHK: 1135HK) and New York (NYSE: SAT) stock exchanges.

About Phoenix
Phoenix Corporate Finance Partners LLP is a private investment banking firm providing a comprehensive array of investment banking services, principally to middle-market growth companies in the TMT space.  The Partners of Phoenix Corporate Finance Partners have over 100 years of bulge-bracket investment banking experience with amongst others CSFB, Morgan Stanley, Citigroup, Lehman Brothers, and Bear Stearns.  The Partners have originated and executed more than 200 transactions during their careers with over $200 billion in transaction value and are dedicated to bringing the breath and depth of this experience to bear for the benefit of their clients.  With a portfolio of capabilities that includes Financial Advisory, Mergers & Acquisitions, Private Placements or Debt & Equity, Restructuring & Turnaround Advisory, Valuation Services and Opinions, Phoenix Corporate Finance Partners offers extraordinary resources for its clients seeking sophisticated financial advisory and other investment banking services.  www.phoenixllp.com 
Contact:
Phoenix Corporate Finance Partners LLP
4 Park Place
London SW1A 1LP
Tel: +44 (0) 20 7898 9223
Fax: +44 (0) 20 7898 9101