Inmarsat Holdings Limited, a wholly-owned subsidiary of Inmarsat plc (LSE: ISAT), the leading provider of global mobile satellite communications services, yesterday reported consolidated financial results for the 3 months ended September 30, 2006.

·Third quarter total revenue $129.2 million up 8% year over year

·Mobile satellites services revenue up 10% year over year

·EBITDA $89.4 million up 20% year over year

·Strong performance across all business sectors

·BGAN revenue $5.3 million year to date, 5,547 subscribers

·BGAN take-up strong in new markets

·ACeS integration on track, first revenues from hand-held services

·SwiftBroadband demonstrated, on track to support in-flight mobile trials

Andrew Sukawaty, Inmarsat’s Chairman and Chief Executive Officer said, “Across the board it was a strong revenue and EBITDA performance for the third quarter.We recorded significant year over year and sequential quarterly revenue growth in all our reporting sectors.We are pleased with the contribution from our new BGAN service during the third quarter and in the continued interest this is generating among new and existing customers.Taking into account the expected impact of volume discounts in the fourth quarter, we are now well positioned to deliver results in line with market expectations for the full year.”

Mobile Satellite Services

The maritime sector revenue performance was driven by the combination of continued growth in maritime data revenue and further stabilization in maritime voice revenue.The main driver of maritime data growth continues to be the take-up and higher average usage of our Fleet service terminals.Activations of Fleet terminals continued during the quarter in line with earlier quarters this year.Maritime voice revenue for the quarter was stable on higher traffic volumes, including a small contribution from new terminals as a result of the collaboration with ACeS.

Improved land sector revenue year over year was driven by increased demand for land data services offsetting lower demand for voice services.Higher demand for land data services was driven by the continued growth in demand for our R-BGAN service and a contribution of $3.2 million during the third quarter from our new BGAN service, offset in part by lower GAN traffic.Land voice revenue during the quarter continued to be impacted by price declines and to some degree by competition.In September, Inmarsat announced a collaboration with ACeS International to introduce a hand-held and other satellite voice services designed to compete directly for the first time with the services of other MSS operators.This new service, available initially in the Asian region, contributed a small amount of revenue during the quarter and we expect this to grow when geographical coverage of the service is expanded during 2007 to be available in key markets where Inmarsat has lost share in voice services in the past.

BGAN revenue was $3.2 million for the quarter and $5.3 million for the first nine months of the year.At the end of the quarter there were 5,547 active BGAN subscribers registered on our network.While BGAN has been readily taken up by a number of heavy users of our services, particularly the media agencies, overall the pattern of take-up indicates that we are generating demand from new customers and from existing customers using new applications.These new customers have used the service in a number of countries where the penetration of our established services, such as GAN, has historically been limited.Furthermore, we have not detected any significant migration to BGAN from our established services.  The reception of BGAN from both end customers and distributors continues to be very positive and encouraging for its continued growth.

Revenue from the aeronautical sector continued the strong growth seen over the past several quarters as a result of increased demand for Inmarsat’s Swift 64 service.The increase in active Swift 64 terminals recorded during the quarter slightly exceeded the record number of new active terminals reported in the second quarter.During October, Inmarsat announced the first tests of the SwiftBroadband service that is expected to be commercially available during 2007 and is the service that will be used by a number of airlines to trial in-flight mobile passenger services.

Leasing revenue for the quarter was boosted by new business signed at the end of the second quarter and which contributed a full quarter of revenue during the third quarter.

Impact of volume discounts

The volume discounts we offer to our distributors have an increasing impact on our margins as the year progresses.As our distributors reach certain volume targets we reduce our wholesale prices and this process reduces our margins until the end of the calendar year when our rates are then reset to their pre-discount level.Volume discounts have their greatest impact on our wholesale prices during the fourth quarter.As a result and consistent with prior years, revenue for the fourth quarter 2006 is expected to be lower than revenue reported for the third quarter 2006.

Liquidity

At the end of the third quarter we had net external debt of $821.1 million made up of cash of $49.0 million and total external debt of $870.1 million.In addition to our cash resources, we had a revolving credit facility with an amount available but undrawn at the end of the first quarter of $300 million.Cash used to fund capital expenditure during the quarter was $31.7 million.After the end of the third quarter, on the October 29, 2006, Inmarsat used approximately $48.5 million of cash to pay the Inmarsat plc 2006 interim dividend.

We are also announcing today that Michael Butler will become President of Inmarsat plc, in addition to his current position of Chief Operating Officer, reflecting his central role in the core business and his involvement in the development of the broader business.

Our full financial report for the third quarter can be accessed via our website at www.inmarsat.com/investor_relations/.Copies of the financial reports will also be filed with the SEC later today on form 6-K.

Inmarsat plc

Inmarsat Holdings Limited, through its subsidiary Inmarsat Finance II plc, is the issuer of $450 million of 10.375% Senior Discount Notes due 2012.Inmarsat Group Limited, through its subsidiary Inmarsat Finance plc, is the issuer of $310.4 million of 7.625% Senior Notes due 2012.Both Inmarsat Holdings Limited and Inmarsat Group Limited are required by the terms of the Notes outstanding to report quarterly financial results.Inmarsat plc is the ultimate parent company of the Inmarsat group and its next results will be preliminary results for the year 2006 and are expected to be reported in March 2007.

Other Information

Inmarsat management will discuss the third quarter results and other financial and business information in a conference call on Wednesday, November 15, at 3:00 p.m. London time (GMT), (United States, 10:00 a.m. EST).  To access the call please dial +44 (0)1452 542 300.  The conference code is 9859780.  The call will also be recorded and available for one week after the event.  To access the recording please dial +44 (0)1452 550 000 and enter the conference code 9859780.

Forward-looking Statements

Certain statements in this announcement constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.These forward-looking statements involve risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those projected in the forward-looking statements.These factors include: general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance of programmes, or the delivery of products or services under them; structural change in the satellite industry; relationships with customers; competition; and ability to attract personnel.You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement.We undertake no obligation to update or revise any forward-looking statement to reflect any change in our expectations or any change in events, conditions or circumstances.

(1)Active terminals are the number of subscribers (BGAN and R-BGAN) or terminals that have been used to access services at any time during the preceding twelve-month period (other services except hand-held) registered at September 30.Active hand-held terminals are the average number of terminals active on a daily basis during the period.

(2)Active terminals as at September 30, 2006 include 10,388 ACeS terminals and 5,547 BGAN subscribers (as at September 30, 2005: nil and nil, respectively). The average daily active number of hand-held SIM cards was 14,274.

Contact:

Inmarsat, London, UK

Investor EnquiriesMedia Enquiries

Simon Ailes, +44 20 7728 1518Christopher McLaughlin, +44 20 7728 1015

[email protected]                          [email protected]