DIRECTV Latin America Bank of America – Merrill Lynch Global Telecommunications, Media & Technology Conference June 4, 2009

Bruce Churchill President DIRECTV Latin America

Cautionary Statement and Non-GAAP Financials

Cautionary Statement:This presentation includes certain statements that may be considered to be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). These forward-looking statements generally can be identified by words such as “believe,” “expect,” “estimate,” “anticipate,” “intend,” “plan,” “foresee,” “project” or other similar words or phrases. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. All of these forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or from those expressed or implied by the relevant forward-looking statement. Such risks and uncertainties include, but are not limited to: economic conditions; product demand and market acceptance; ability to improve customer service or create new and desirable programming content and interactive features; government action; political, economic and social uncertainties in many Latin American countries in which DTVLA operates; foreign currency exchange rates; competition; the outcome of legal proceedings; ability to achieve cost reductions; ability to renew programming contracts under favorable terms; technological risk; limitations on access to distribution channels reliance on satellites as a significant part of our infrastructure and we may face other risks described from time to time in periodic reports filed by us with the SEC.

Non-GAAP Financials:This presentation includes financial measures that are not determined in accordance with GAAP, such as Operating Profit before Depreciation and Amortization, Free Cash Flow and Cash Flow before Interest and Taxes. These financial measures should be used in conjunction with other GAAP financial measures and are not presented as an alternative measure of operating results, as determined in accordance with GAAP. DIRECTV management uses these measures to evaluate the profitability of DIRECTV subscriber base for the purpose of allocating resources to discretionary activities such as adding new subscribers, upgrading and retaining existing subscribers and for capital expenditures. A reconciliation of these measures to the nearest GAAP measure is posted on our website and is included at the end of this presentation package.

DIRECTV Latin America Three Platforms

SKY Brasil

74% ownership

1.7 million subscribers

DIRECTV Latin America Three Platforms

PanAmericana - DIRECTV

100% ownership

2.3 million subscribers

Sky Mexico

41% ownership

(non-consolidated)

1.8 million subscribers

DIRECTV Latin America Three Platforms

DTVLA – Three Platforms

DTVLA Platform Summary

Ownership Local Partner # of Subs

SKY Brasil 74% Globo 1.7M

PanAmericana 100% N/A 2.3M

DTVLA 4.0M

SKY Mexico 41% Televisa 1.8M

Region 5.8M

The 4th largest Pay-TV platform outside the USA

DTVLA – Strategic Pillars

SERVICE

TECHNOLOGY

CONTENT

“Best Television Experience”

DTVLA – Content Strategy

Emphasis on local programming

Strategic partnerships

Extensive lineup

Differentiated sports offering

Exclusive content

Enhanced and expanded coverage

Advanced Products

DVR

High definition

DTVLA – Local Programming

Strategic local programming partnerships

Televisa: - Premiere Spanish-language programmer

- Key channels in Mexico and rest of Latin America

- Supplier of sports content (Exclusive)

Globo: - Premiere Portuguese-language programmer

- Exclusive provider of Brazilian content

- Supplier of sports services (SporTV) and local football (Brasilerão)

Torneos y Competencias:

- Argentine football rights holder

- Top sports production house in Latin America

- Produce 10 hrs/week for DIRECTV Sports

Co-productions with various local broadcasters

DTVLA – Local Programming

“Over 150 local channels on the platform”

DTVLA – Differentiated Sports

Exclusive programming

La Liga Española: - Through 2012

- 5 exclusive games per week, incl. Barcelona or Real Madrid

- Barcelona vs. Real Madrid exclusive

- Other games simulcast

English Premiere League:

- 2 live games per week

- Replay additional games

Mexican Soccer: - 50% of all Local Mexican football games exclusive

- Local team blackouts

Golf Channel - Launched exclusively on DTVLA

Tennis - 10 ATP tournaments, full WTA tour (excl. majors)

DTVLA – Differentiated Sports

Enhanced and expanded coverage

World Cup 2010: - Mix of exclusive and non-exclusive

- All games air on the platform in HD (excl. Brazil)

- 6 hours of original programming per day

- 16:9 format in 2006 HD in 2010

- Launch 1 year in advance with Confederation Cup

Tennis: US Open, French Open, Wimbledon

- Mix channel covers six courts simultaneously

- Ability to watch any feed

Baseball: - MLB and local baseball in Venezuela

SPFC - Season pass to local Brazilian soccer

- Interactive features

- Monthly fee

DTVLA – Differentiated Technology

Advanced Products

DVR: - Superior product vs. competition

- Lower price

- Initial take-rates encouraging

HD: - PanAmericana in Q4 ‘08 (4 channels)

- Brazil in Q2 ‘09 (10 channels)

- Mexico in Q2 ‘10 (TBD)

DTVLA – Key Metrics

Note: Excludes Sky Mexico

Outlook 2007 2008 2009

Subscribers (000's) 3,279 3,883 ~4,500

ARPU (US$) 48.33$ 55.07$ ~$50

Monthly churn 1.38% 1.78% ~1.85%

SAC (US$) 361$ 366$ ~$380

Actual

DTVLA – 2009 Outlook

post-paid ~1.55 Equipment/Distribution $135Installation commission 25Other Sales Expenses 25

Churn ~1.85 Sub-Total Gross SAC $185

Hook-up fee ($90)

pre-paid ~4.70 Net-SAC $95

Payback period < 1 year

Monthly Churn % Pre-paid SAC (USD)

DTVLA – Financial Information

Note: Excludes Sky Mexico

(in US$ millions) Outlook 2007 2008 2009

Revenue 1,719$ 2,383$ ~ $2,550OPBDA 394$ 690$ ~ $650Operating profit 159$ 426$ ~ $320

CapExSubscriber related 296$ 393$ Non-SAC related 40 54 Sub-Total 336$ 447$ ~ $550

Cash flow before interest and taxes 140$ 269$ ~ $160

Actual