1. 2008 Annual Report 7 April 2009

2. 2  Financial Highlights  Updates on Operation

3. Financial Highlights

4. 4 2008 (HK$ M.) 2007 (HK$ M.) Turnover 403.7 451.6 Profit Attributable to Equity Shareholders 49.6 5.6 Annual Results

5. 5 Turnover Breakdown by Business

6. 6 Turnover Breakdown by Region

7. 7 2008 (HK$ M) 2007 (HK$ M) Turnover403.7451.6 Cost of Services(277.6)(314.8) Gross Profit126.1136.8 Other net income68.926.3 Administrative expenses(84.9)(81.9) Valuation (losses) / gains on investment properties -0.2 Impairment Loss recognised in respect of property, plant and equipment (8.4)- Consolidated Income Statement (1)

8. 8 2008 (HK$ M) 2007 (HK$ M) Profit from operations101.781.4 Finance costs(24.8)(55.3) Share of results of jointly controlled entities2.4(1) Gain on disposal of a subsidiary3.2- Gain on disposal of a jointly controlled entity9.6- Profit before taxation92.125.1 Income tax(42.6)(20.4) Profit for the year49.54.7 Minority interest(0.1)(0.9) Profit attributable to shareholders49.65.6 Profit per share – Basic (HK cents)12.001.35 Consolidated Income Statement (2)

9. 9 Expenses Breakdown

10. 10 Cost of Service Breakdown

11. 11 Note: EBITDA Margin represents earnings before interest income / expenses, other income, taxation, depreciation, amortization, impairment loss and share of results of jointly controlled entities as a percentage of turnover. EBITDA Margins

12. 12 Assets & Liabilities HK$ Million  Total Assets2,546  Total Liabilities506 (As at 31 December 2008)

13. 13 Gearing

14. 14 Cash  Free Cash:HK$122 million  Pledged Deposit :HK$1 million (As at 31 December 2008)

15. Updates on APT’s Operations

16. 16 Transponder Utilization Rates 31 Dec 0731 Dec 08 APSTAR VI59%72% APSTAR V (APT’s transponders) 72%72%83%

17. 17  SS/L FS1300  Commenced operation in August 2004  APT keeps 21 C & 10 Ku  The mission life is about 15 years  Utilization rates remains high with further increase potential APSTAR V

18. 18 APSTAR VI  Thales Alenia Space (f/k/a Alcatel Space) SB4100C1  High-power satellite with 38 C-band and 12 Ku-band  Started commercial operation on June 7, 2005  Operation mission life over 15 years  Utilization rate increased significantly

19. 19 Satellite TV Broadcasting Platform APT Satellite TV Development Ltd. (A Subsidiary)  Successfully established a satellite TV uplink and broadcasting services platform for broadcasting services under the Satellite TV Uplink and Downlink Licence of Hong Kong SAR  As at December 31, 2008, the Broadcasting Platform uplinks and broadcasts up to 87 satellite TV channels

20. APT Telecom Services Limited （ a subsidiary)  Provides VSAT and teleport uplink services to Hong Kong and Asian telecom users including satellite operators, telcos & ISPs  Provides two-way satellite internet services and teleport uplink services Satellite-based Telecommunications Service

21. Data Centre  Disposed APT Satellite Telecommunication Ltd., which provide Data Centre Business with its Telepark  Continue to provide Data Centre business in Tower 2 with cooperation with internationally renowned IT firm for an airliner of Hong Kong  Support broadcasting and telecom services of the Group  Additional Revenue will start in 2H 2009  Future growth potential

22. 22 New Satellites in China Market  Two new satellites launched in mid 2007 and one in 1H 2008  More satellite launching will result in intensive market competition  Cope with the market change with better services  As a whole, APT’s performance was not adversely affected

23. Business Outlook Global financial crisis leads to unfavourable business environment Market competition still be fierce due to supply over demand Market demand for transponders and services may be affected by financial crisis Better competitive edges further improves utilization rates

24. APT Satellite Holdings Limited 7 April 2009 www.apstar.com