1.
    
    I have reviewed this annual report on Form 20-F of Satélites Mexicanos, S.A. de
C.V. (the Company);
 2.
    
    Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;
 3.
    
    Based on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the Company as of, and for, the
periods presented in this report;
 4.
    
    The Companys other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in
Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:
 a.
    
    Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the Company, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;
 b.
    
    Designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;
 c.
    
    Evaluated the effectiveness of the Companys disclosure controls and
procedures and presented in this report our conclusions about the effectiveness of
the disclosure controls and procedures, as of the end of the period covered by
this report based on such evaluation; and
 d.
    
    Disclosed in this report any change in the Companys internal control
over financial reporting that occurred during the period covered by the annual
report that has materially affected, or is reasonably likely to materially affect,
the Companys internal control over financial reporting; and
 5.
    
    The Companys other certifying officer and I have disclosed, based on our most
recent evaluation of internal control over financial reporting, to the Companys
auditors and the audit committee of the Companys board of directors (or persons
performing the equivalent functions):
 a.
    
    All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably likely
to adversely affect the Companys ability to record, process, summarize and report
financial information; and
 b.
    
    Any fraud, whether or not material, that involves management or other
employees who have a significant role in the Companys internal control over
financial reporting.
  By:
    /S/ LUIS FERNANDO STEIN VELASCOName:
    Luis Fernando Stein VelascoTitle:
    Chief Financial Officer