> V2*3*4*5*6*7*8*9*:*;*<*=*>*?*@*A*B*C*D*E*F*G*H*I*J*K*L*M*N*O*P*Q*R*S*T*U*V*W*X*Y*Z*[*\*]*^*_*`*a*b*c*d*e*f*g*h*i*j*k*l*m*n*o*p*q*r*s*t*u*v*w*x*y*z*{**}*~*********** l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1Courier New1Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)**_($* #,##0_);_($* (#,##0);_($* ""_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* ""_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* ""??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* ""??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)60%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0) + ) , * Ј ~~ ؈ ~~#؈ ~~"؈ ~~ ؈ ~~8#܈ ~~7#܈ ~~3#܈ ~~9"܈ ~~4#܈ ~~3"܈ ~~7"܈ ~~9#܈ ~~"؈ ~~83ffff̙̙3f3fff3f3f33333f33&<Information Statement Pursuant &pTo the common stockholders of E֤ADDITIONAL INFORMATIONvTABLE OF CONTENTS$&TABLE OF CONTENTS (1)*pTABLE OF CONTENTS (2)ȷTABLE OF CONTENTS (3)&[QUESTIONS AND ANSWERS ABOUT THE&'QUESTIONS AND ANSWERS ABOUT (1)&EpQUESTIONS AND ANSWERS ABOUT (2)&QUESTIONS AND ANSWERS ABOUT (3)&QUESTIONS AND ANSWERS ABOUT (4)&T"QUESTIONS AND ANSWERS ABOUT (5)&"eQUESTIONS AND ANSWERS ABOUT (6)&aQUESTIONS AND ANSWERS ABOUT (7)&QUESTIONS AND ANSWERS ABOUT (8)&QUESTIONS AND ANSWERS ABOUT (9)&WQUESTIONS AND ANSWERS ABOU (10)&{QUESTIONS AND ANSWERS ABOU (11)&QUESTIONS AND ANSWERS ABOU (12)&QUESTIONS AND ANSWERS ABOU (13)&GQUESTIONS AND ANSWERS ABOU (14)SUMMARY& Hughes Electronics Corpora New EchoStar6 New EchoStar (1)#{ New EchoStar (2)$aStructure of the Transactions INew EchoStar Common Stock$(New EchoStar Common Stock (1)&eConditions to Completing the Tr%Required Stockholder Approvals$Comparative Market Price Data{Income Statementd
Balance SheetNO TITLE& Hughes Selected Historical and *= Income Statement (1)r Income Statement (2)}
Balance Sheet (1)&Z
EchoStar Selected Historical anG
Income Statement (3)&
GM Common Stock Historical Per &GM Common Stock Pro Forma Per S&uPEchoStar Common Stock Historica&ԅEchoStar Common Stock Equivalen&=New EchoStar Common Stock Pro F&EchoStar Common Stock Pro Forma%RISK FACTORS&\ Risks Relating to New Echo&֒Materially Adversely Affect Hug&[ Risks Relating to the Busi&
Risks Relating to the (1)&^7
Risks Relating to the (2)&*q
Risks Relating to the (3)&
Risks Relating to Liquidit&
Risks Relating to Liqu (1)&f Risks Relating to Regulato&Q Risks Relating to Regu (1)&^ Risks Relating to Regu (2)&y Risks Relating to the CapiTTHE TRANSACTIONSW8THE TRANSACTIONS (1)o Introduction&S Background Regarding GM146& The Hughes Recapitali& The Hughes Recapi (1)&6O The Hughes Recapi (2)&y Other SeparationRelat# The Hughes EchoStar Merger# The Hughes EchoStar Me (1)#F The Hughes EchoStar Me (2)#σ The Hughes EchoStar Me (3)&U HughesEchoStar Merger Fina PanAmSat Stock Sale&, Alternatives to the Transa&#e GM146s Development of the %
GM146s Development of (1)& Merrill Lynch Fairness Opi&( Merrill Lynch Fairness (1)&` Merrill Lynch Fairness (2)& Merrill Lynch Fairness (3)&assumptions underlying the anal&assumptions underlying the (1)&;assumptions underlying the (2)&Kqassumptions underlying the (3)&assumptions underlying the (4)&assumptions underlying the (5)&assumptions underlying the (6)&iFassumptions underlying the (7)&{assumptions underlying the (8)&gassumptions underlying the (9)&assumptions underlying the (10)&'assumptions underlying the (11)&%Rassumptions underlying the (12)&assumptions underlying the (13)&ƿassumptions underlying the (14)&assumptions underlying the (15)&)assumptions underlying the (16)&r^assumptions underlying the (17)&assumptions underlying the (18)&jassumptions underlying the (19)&yassumptions underlying the (20)&2assumptions underlying the (21)&gassumptions underlying the (22)&assumptions underlying the (23)&assumptions underlying the (24)&4assumptions underlying the (25)&>assumptions underlying the (26)&gxassumptions underlying the (27)&assumptions underlying the (28)&assumptions underlying the (29)&"financial point of view to the %gvfinancial point of view to (1)%financial point of view to (2)%financial point of view to (3)%financial point of view to (4)%OQfinancial point of view to (5)%rfinancial point of view to (6)%financial point of view to (7)%jfinancial point of view to (8)%z+financial point of view to (9)%`financial point of view t (10)%financial point of view t (11)%yfinancial point of view t (12)%financial point of view t (13)%=financial point of view t (14)%Avfinancial point of view t (15)&7 Credit Suisse First Bost&; Credit Suisse First (1)&'1 Goldman Sachs Fairnes&s Goldman Sachs Fai (1)& Goldman Sachs Fai (2)& Goldman Sachs Fai (3)&3+ Pro Forma Combination&a Pro Forma Combina (1)& Pro Forma Combina (2)& Pro Forma Combina (3)&
Relative Valuation of&}N Relative Valuatio (1)& Relative Valuatio (2)&f Relative Valuatio (3)&% Relative Valuatio (4)&=! Relative Valuatio (5)&iy! Relative Valuatio (6)&!EchoStar Background and Conside&!EchoStar Background and Con (1)&/"EchoStar Background and Con (2)&Av"EchoStar Background and Con (3)&̺"EchoStar Background and Con (4)&" Deutsche Banc Alex Br&3# Deutsche Banc Ale (1)&Xj# Deutsche Banc Ale (2)#NO TITLE (1)&# Deutsche Banc Ale (3)&$ Deutsche Banc Ale (4)&T$ Deutsche Banc Ale (5)&~$ Deutsche Banc Ale (6)&r$ Deutsche Banc Ale (7)&)% Deutsche Banc Ale (8)&O% Deutsche Banc Ale (9)&a% Deutsche Banc Al (10)&% Deutsche Banc Al (11)&% Deutsche Banc Al (12)&,&Material US Federal Income Tax %g&Material US Federal Income (1)&j&DESCRIPTION OF PRINCIPAL TRANSA&I& Proposal of Matters Relati&' Requisite GM Common Stockh&mT' Requisite GM Common St (1)&ו' Requisite GM Common St (2)&'' Requisite GM Common St (3)&L( Requisite GM Common St (4)&8( Covenants of GM Hughes and&r( Covenants of GM Hughes (1)#( Certain Other Covenants#) Certain Other Coven (1)#@) Certain Other Coven (2)#y) Certain Other Coven (3)#3) Certain Other Coven (4)#\) Certain Other Coven (5)&* Preservation of the TaxFre&c\* Other General Indemnificat&x* Other General Indemnif (1)&E* Other General Indemnif (2)&
+ Other General Indemnif (3)&O+ Other General Indemnif (4)&+ The Hughes Recapitalizatio&t+ The Hughes Recapitaliz (1)&+ Hughes Recapitalization Cl&*0, Hughes Recapitalizatio (1)&Xg, Hughes Recapitalizatio (2)&J, Hughes Recapitalizatio (3)&, Hughes Recapitalizatio (4)&$ Ancillary Separation Agree&c Conversion of EchoStar Com& Boards Committees and Offi&^ Boards Committees and (1)&#. Boards Committees and (2)&U. Boards Committees and (3)&. Boards Committees and (4)&. Boards Committees and (5)&/ Boards Committees and (6)&MR/ Boards Committees and (7)&#/ Boards Committees and (8)&/ Boards Committees and (9)&@0 Boards Committees and (10)&W0 Boards Committees and (11)&(0 Boards Committees and (12)&Z0 Boards Committees and (13)&N1 Representations and Warran&T1 Representations and Wa (1)&,1 Representations and Wa (2)&E1 Director and Officer Indem&2 Director and Officer I (1)&`2 Termination Fees Expense R&2 Termination Fees Expen (1)&t2PanAmSat Stock Purchase Agreeme&?3 Purchase Price Form of Con&M3 Purchase Price Form of (1)&3 Purchase Price Form of (2)&3 Purchase Price Form of (3)&4 Purchase Price Form of (4)&A4 Purchase Price Form of (5)&4 Purchase Price Form of (6)&4 Purchase Price Form of (7)4 Indemnificationr45 Indemnification (1)yn5 Indemnification (2)&5 Employee Matters Agreement&5 Employee Matters Agree (1)*6GM CAPITALIZATIONe6GM CAPITALIZATION (1)6Shareholders Equity57Income Statement (4)&C7Condensed Consolidated FinanciaN7Shareholders Equity (1)V8Income Statement (5)&8Condensed Consolidated Fina (1)8Income Statement (6)	CONDENSED CONSOLIDATED FINA (2)&9CONDENSED CONSOLIDATED FINA (3)&79CONDENSED CONSOLIDATED FINA (4)&R8:CONDENSED CONSOLIDATED FINA (5)d:Income Statement (7)&%;CONSOLIDATED STATEMENT OF OPERA&x;CONSOLIDATED STATEMENT OF O (1)&y;CONSOLIDATED STATEMENT OF O (2)&Y;CONSOLIDATED STATEMENT OF O (3)&2<CONSOLIDATED STATEMENT OF O (4)&r<CONSOLIDATED STATEMENT OF O (5)<Income Statement (8)&SH=CONSOLIDATED STATEMENT OF O (6)&B=CONSOLIDATED STATEMENT OF O (7)&=CONSOLIDATED STATEMENT OF O (8)&>CONSOLIDATED STATEMENT OF O (9)KI>Board of Directors>Executive Officers#>GM CAPITAL STOCK;>GM CAPITAL STOCK (1)%?GM Preferred Stock"]? Liquidation Preference&9?GM146s DualClass Common Stock C&C?GM146s DualClass Common Sto (1)&@ Diverging Interests of GM &2=@ GM Board Policy Statement %@ GM Board Policy State (1) @ECHOSTAR CAPITAL STOCK&@ EchoStar Series D Converti!ANEW ECHOSTAR CAPITAL STOCKcACommon Stock&ʟALimitation on Liability of Dire&xASection 203 of the Delaware Gen&BSection 203 of the Delaware (1)$IBCertain Governance Provisions%B New EchoStar Common StockiB
Comparison&B Indemnification and Limita&,.C Indemnification and Li (1)&fC Indemnification and Li (2)&BC State AntiTakeover Statute&C State AntiTakeover Sta (1)&D State AntiTakeover Sta (2)&@ND State AntiTakeover Sta (3)D Appraisal Rights D Appraisal Rights (1)$D Record DateEGM Class H Common Stock"iEGM Class H Common Stock (1)"4E Matters to be Approved&E Matters to be Approved (1)&cF Matters to be Approved (2)&KF Matters to be Approved (3)&TF Certain Employee Savings P&F Certain Employee Savin (1)&F Certain Employee Savin (2)&8(G Certain Employee Savin (3)`GBeneficial OwnershipG NonEmployee DirectorsGNO TITLE (2)&H Named Executive Officers and \aHNO TITLE (3)"GH Certain Beneficial OwnersHNO TITLE (4)IBeneficial Ownership (1)&kPISecurity Ownership of Certain B&ISecurity Ownership of Certa (1)&7ISecurity Ownership of Certa (2)JNO TITLE (5)IJNO TITLE (6)JNO TITLE (7)&JDISCLOSURE REGARDING FORWARDLOO&KDISCLOSURE REGARDING FORWAR (1)&NDIVISION I COMMON STOCK AND (7)&NDIVISION I COMMON STOCK AND (8)&/ODIVISION I COMMON STOCK AND (9)OAND CLASS H COMMON STOCK#OAND CLASS H COMMON STOCK (1)# PAND CLASS H COMMON STOCK (2)#wPAND CLASS H COMMON STOCK (3)#0PAND CLASS H COMMON STOCK (4)#y!QAND CLASS H COMMON STOCK (5)#jQAND CLASS H COMMON STOCK (6)#QAND CLASS H COMMON STOCK (7)&RMerrill Lynch Pierce Fenner 38 %LRMerrill Lynch Pierce Fenne (1)%uRMerrill Lynch Pierce Fenne (2)%RMerrill Lynch Pierce Fenne (3)$SBear Stearns Fairness Opinion$YSBear Stearns Fairness Opi (1) SPERSONAL AND CONFIDENTIAL&SDeutsche Banc Alex Brown FairnezSBalance Sheet (2)%+TIndependent Auditors146 Report
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }U5}$
DISH Network CORPPRE 14C
03/18/2002IAInformation Statement Pursuant to Section 14(c) of the Securities4 , ? Preliminary Information Statement :
2 ? Confidential, for Use of the Commission/'Only (as permitted by Rule 14c5(d)(2))3+ ? Definitive Information Statement
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(TaUI=X! =PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant ADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }0.
DISH Network CORPPRE 14C
03/18/2002JBTo the common stockholders of EchoStar Communications Corporation: Charles W. Ergen
.
&Chairman of the Board of Directors andChief Executive Officer+#EchoStar Communications Corporation
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(T`TH<$TH<=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of ETABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}@
DISH Network CORPPRE 14C
03/18/2002ADDITIONAL INFORMATION ?8 0GM: At GM?s website, ?www.gm.com? by selecting
.
&?Investor Information?, then selecting.&?Financial Data? and finally selecting?SEC Filings?;
?6.Hughes: At Hughes? website, ?www.hughes.com?%by selecting ?Investor Relations? and%then selecting ?SEC Filings?; ?=5PanAmSat: At PanAmSat?s website, ?www.panamsat.com?%by selecting ?Investor Relations? and4,then selecting ?SEC Filings/ Annual Report?;and ?=5EchoStar: At EchoStar?s website, ?www.echostar.com?/'by selecting ?about us?, then selecting2*?Investor Relations? and finally selecting?SEC Filings?.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D@lthD[)@4Ai=PF0*8X>
@
l @[%
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }y<}$ }}$
@
DISH Network CORPPRE 14C
03/18/2002TABLE OF CONTENTS Page
7/ QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS~
SUMMARY~
2
The Companies
~
2
'Description of the Transactions~
:%Structure of the Transactions~
V3+Recommendation of the GM Board of Directors~
^3+EchoStar Board of Directors and Stockholder~
^ ApprovalsRegulatory Matters~
bNo Appraisal Rights~
f!New EchoStar Common Stock~
f4,New EchoStar Board of Directors and Officers~
n5Interests of Directors and Executive Officers~
r"of GM, Hughes and EchoStarTiming~
r1)Conditions to Completing the Transactions~
r0(Considerations Relating to Time Interval~
v.&Between GM Common Stockholder Approval*"and Completion of the Transactions&Required Stockholder Approvals~
z80Matters To Be Approved by GM Common Stockholders~
~DZlym%l"b7^eB !"#$%&'()*+,./0123456789:;<=>? GM Consent Mechanics ~
~ !,!$Tax Consequences of the Transactions!!~
!!""Accounting Treatment""~
""#%#Comparative Market Price Data##~
##$3$+Selected Historical and Pro Forma Financial$$~
$$%%Data&3&+Unaudited Comparative Per Share Information&&~
&&''Recent Developments''~
''() RISK FACTORS))~
))*1*)Risk Factors Relating to the Transactions**~
**+:+2Risk Factors Relating to GM After the Transactions++~
++,3,+Risk Factors Relating to New EchoStar After,,~
,,the Transactions./ THE TRANSACTIONS//~
//0'0Description of the Transactions00~
001(1 GM Background and Considerations11~
1v12.2&EchoStar Background and Considerations22~
2V233Regulatory Requirements33~
3344No Appraisal Rights44~
445.5&Stockholder Litigation Relating to the55~
5566Transactions77Accounting Treatment77~
77878/Material U.S. Federal Income Tax Considerations88~
889$9Relating to the Transactions::Resale Limitations::~
::;<$=____________________________1>)Created by Morningstar Document Research.0?(http://documentresearch.morningstar.com/D[l4oi@O'a&Y5^*=PF0*8X>
@B??>>==//))
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }8}$ }U}$
J
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/' DESCRIPTION OF PRINCIPAL TRANSACTION~
AGREEMENTS Implementation Agreement~
'GM/ Hughes Separation Agreement~
)!Hughes/ EchoStar Merger Agreement~
)!PanAmSat Stock Purchase Agreement~
2*"Certain Other Ancillary Agreements~
N GM CAPITALIZATION~
V7/ GENERAL MOTORS UNAUDITED PRO FORMA CONDENSED~
Z*" CONSOLIDATED FINANCIAL STATEMENTS<4 HUGHES UNAUDITED PRO FORMA CONDENSED CONSOLIDATED~
v FINANCIAL STATEMENTS5 NEW ECHOSTAR UNAUDITED PRO FORMA CONDENSED~
*" CONSOLIDATED FINANCIAL STATEMENTS1) ECHOSTAR UNAUDITED PRO FORMA CONDENSED~
Dlym%hRE9n@4* !"#$%&'()*+,./0123456789:;<=>?* " CONSOLIDATED FINANCIAL STATEMENTS!8"0 NEW ECHOSTAR DIRECTORS AND EXECUTIVE OFFICERS""~
""##Board of Directors##~
##$$
Committees$$~
$$%%Executive Officers%%~
%%&3&+Director and Executive Officer Compensation&&~
&&'( GM CAPITAL STOCK((~
(())Introduction))~
))**GM Preferred Stock**~
**++GM Preference Stock++~
++,6,.GM?s DualClass Common Stock Capital Structure,,~
,,0(GM?s Board of Directors Policy Statement~
.!/ ECHOSTAR CAPITAL STOCK//~
//00Introduction00~
001%1EchoStar Class A Common Stock11~
112%2EchoStar Class B Common Stock22~
223%3EchoStar Class C Common Stock33~
334 4EchoStar Preferred Stock44~
44535+Limitation of Liability and Indemnification55~
5566Matters707(Nevada Law and Limitations on Changes in77~
7788Control9%: NEW ECHOSTAR CAPITAL STOCK::~
:
:;;Introduction;;~
;
;<<Common Stock<<~
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<==Preferred Stock==~
==>>Stockholder Rights Plan>>~
>>?/?'Limitation on Liability of Directors of??~
??DlXLz$kua1+O@ABCDEFGHI@@New EchoStarA7A/Section 203 of the Delaware General CorporationAA~
AABBLawC%CCertain Governance ProvisionsCC~
CCDDStock Exchange ListingDD~
DDEF$G____________________________1H)Created by Morningstar Document Research.0I(http://documentresearch.morningstar.com/cHuiA=PF0*8X>
@IIHHGG:://((""
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }6}$ }U}$
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)!Book Entry; Uncertificated Shares~
$Transfer Agent and Registrar~
80 COMPARISON OF RIGHTS OF HOLDERS OF GM CLASS H~
"/'COMMON STOCK, ECHOSTAR COMMON STOCK AND!NEW ECHOSTAR COMMON STOCKIntroduction~
"
Comparison~
&*" SHARES ELIGIBLE FOR FUTURE SALE~
jThe Transactions~
j!GM Employee Benefit Plans~
jCharles W. Ergen~
nGeneral Motors~
nAOL Time Warner~
n)! MARKET PRICE AND DIVIDEND DATA~
vGM Class H Common Stock~
v%EchoStar Class A Common Stock~
z1)New EchoStar Class A Common Stock and New~
z%EchoStar Class C Common StockD
lym%n[6 c XL% !"#$%&'()*+,./0123456789:;<=>? *!" GM CONSENT SOLICITATION MATTERS!!~
!~!"4",Solicitation of Written Consent of GM Common""~
"~"##Stockholders$0$(Security Ownership of Certain Beneficial$$~
$$%/%'Owners and Management of General Motors&5&Interests of Executive Officers and Directors&&~
&&''of GM and Hughes(0)( ECHOSTAR STOCKHOLDER APPROVAL MATTERS))~
))*%*EchoStar Stockholder Approval**~
**+0+(Security Ownership of Certain Beneficial++~
++,),!Owners and Management of EchoStar5Interests of Executive Officers and Directors~
..of EchoStar/0 LEGAL MATTERS00~
0012
EXPERTS22~
223/4' DISCLOSURE REGARDING FORWARDLOOKING44~
445
STATEMENTS6.7& WHERE YOU CAN FIND MORE INFORMATION77~
778=95 APPENDIX A: THE FIRST GM CHARTER AMENDMENT?ARTICLE999A199:1FOURTH OF THE GM AMENDED AND RESTATED CERTIFICATE/;'OF INCORPORATION AFTER GIVING EFFECT TO1<)THE FIRST CHARTER AMENDMENT TO EFFECT THE=TRANSACTIONS>>?6 APPENDIX B: THE SECOND GM CHARTER AMENDMENT?ARTICLE???B1?DW
lI8_&2&mWKg*@ABCD9@1FOURTH OF THE GM AMENDED AND RESTATED CERTIFICATE/A'OF INCORPORATION AFTER GIVING EFFECT TOMBETHE SECOND CHARTER AMENDMENT REFLECTING ____________________________\CTTHE COMPLETION OF THE TRANSACTIONS Created by Morningstar Document Research.0D(http://documentresearch.morningstar.com/P?=PF0*8X>
@DDCCBBAA@@??==<<;;::997755442200))!!
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }y<}$ }}$
DISH Network CORPPRE 14C
03/18/2002TABLE OF CONTENTS Page
( APPENDIX C: FAIRNESS OPINIONSC1:2Merrill Lynch, Pierce, Fenner ? Smith IncorporatedC1
Fairness Opinion%Bear Stearns Fairness OpinionC63+Credit Suisse First Boston Fairness OpinionC11&Goldman Sachs Fairness OpinionC152*Deutsche Banc Alex. Brown Fairness OpinionC191) APPENDIX D: HEC HOLDINGS, INC. BALANCED1
SHEET$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6ym%zm
]=PF0*8X>
@:
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }:
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS . &The GM/ Hughes separation transactions
7
/also include certain other related transactions/'that generally address matters relating,$to the separation of Hughes from GM.
1)GM does not currently have the ability to5exchange shares of the Hughes holding company2*for shares of GM Class H common stock. One1)of the effects of the amendment to the GM%restated certificate of incorporation3+that GM common stockholders are being asked80to approve pursuant to this consent solicitation1)is to authorize the GM board of directors4,to make this exchange on the terms describedin this document./'For more information, see pages 76, 169and 183.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dlvj^R:v:.f%]dD8,=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }mB
O
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS 0 (In order to illustrate the effect of the
0
(Hughes recapitalization on this fraction4,(and, as a result, on GM?s retained economic/'interest in Hughes), we have calculated
2
*the fraction based on the number of shares1)of GM Class H common stock outstanding as:2of , 2002 and the number of shares of GM Class H0(common stock that would be issued, based2*on certain assumptions, upon the mandatory.&conversion of GM?s Series H preference3+stock. Based on the fraction so calculated,5about % of Hughes? earnings would have been0(allocable to the GM Class H common stock0(for purposes of determining earnings per3+share and amounts available for the payment.&of dividends. The remaining portion of4,Hughes? earnings, about %, would have been3+allocable to the GM $1 2/3 par value common/'stock. In this example, this percentage/'would represent what we sometimes refer0(to as GM?s retained economic interest in4,Hughes prior to the Hughes recapitalization.4,After the payment of a $4.2 billion dividendD, lvj^R:v7j*g"_![ !"#$%&'()*+,./0123456789:;<=>? 4 ,from Hughes to GM and the related adjustment!?!7of the fraction pursuant to the Hughes recapitalization"0"((based on the average market price of GM#/#'Class H common stock during a specified$<$4period ending on , 2002), the fraction calculated%5%as of , 2002 as described above would have&2&*resulted in the allocation of about % of'1')Hughes? earnings to the GM Class H common(2(*stock. The balance of about % would have)1))been allocated to the GM $1 2/3 par value*6*.common stock. In this example, this percentage+.+&would represent GM?s retained economic,=,5interest in Hughes after the Hughes recapitalization..1.)Thus, as illustrated above, GM?s retained/./&economic interest in Hughes would have0.0&been reduced by an amount commensurate111)with the amount of the dividend, or about222*%, based on the average market price of GM3/3'Class H common stock during a specified454period ending on , 2002. The actual amount5850of the Hughes dividend, as well as the reduction646,of GM?s retained economic interest in Hughes707(and the amount, if any, of GM?s retained8880economic interest in Hughes after the reduction,929*will not be known until immediately before:.:&the completion of the transactions and;4;,could vary materially from this illustrative<1<)calculation based on a number of factors,=0=(including the average market price of GM>/>'Class H common stock during a specified?3?+period preceding the time of the completionD
lm]Wnp.bTQ@ABCDEFGHIJKLMN@0@(of the proposed transactions. The numberA4A,of shares of Class C common stock of the newB/B'Hughes holding company, if any, that GMC2C*will hold immediately after the completionD0D(of the Hughes splitoff will be based onE5Ethe amount of GM?s retained economic interestF2F*in Hughes, if any, after that interest hasGG%been reduced to reflect the dividend.HI*I"For more information, see page 76.JK$L____________________________1M)Created by Morningstar Document Research.0N(http://documentresearch.morningstar.com/"$=v4q=PF0*8X>
@NNMMLL
l N
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}=

DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS ?3 +eliminate duplicate programming and utilize
/
'reclaimed broadcast spectrum to deliver+#more program and service offerings;
?4
,standardize the EchoStar and DIRECTV settop/'boxes, which is expected to both reduce/'manufacturing costs and enable improvedantipiracy protection; ?5combine and improve the distribution networks of EchoStar and DIRECTV; ?.&consolidate customer service and other&facilities and infrastructure; ?,$reduce subscriber acquisition costs,/'subscriber churn, programming costs and'eliminate duplicative overhead; ?,$introduce localintolocal broadcast0(channel service in all designated marketareas;DOlvj^R.L@YxKg !"#$%&'()*+, ?, $expand twoway highspeed broadband;!!!" "?;"3expand highdefinition television, videoondemand,##0#(payperview and educational programming$$$offerings; and%& &?2&*generate new sources of local and national'''advertising revenue.()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/;b*=PF0*8X>
@,,++**
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}2
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS ?2 *GM?s receipt of the dividend of up to $4.2
billion from Hughes; ?2*GM?s benefit from debt reduction resulting

%from any GM debtforequity exchanges.&as described below in Question 12; and ?0(GM?s retention of any shares of stock in1)the new EchoStar following the completion,$of any GM debtforequity exchanges.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4vj^R.L`=PF0*8X>
@
l 1!
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}8
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DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS ?5 each share of the new EchoStar Class A common
1
)stock will entitle the holder to one vote2*in the election of directors and all other%matters submitted to stockholders for
their approval; ?5each share of the new EchoStar Class B common/'stock will initially entitle the holder0(to 10 votes in the election of directors7/and all other matters submitted to stockholdersfor their approval; and ?5each share of the new EchoStar Class C common1)stock will entitle the holder to a number1)of votes in the election of directors and3+all other matters submitted to stockholders0(for their approval that will ensure that2*the new EchoStar Class C common stock held2*by GM (other than stock that is subject to%GM debtforequity exchanges) and the0(new EchoStar Class C common stock issued2*to certain of GM?s historical stockholders/'together possess 50.5% of the aggregateD lvj^R.Ag}B6Ja~ !"#$%&'()*+,./0 4 ,voting power of the new EchoStar immediately!!!%following the Hughes/EchoStar merger.""4",The calculation of the exact number of votes##4#,per share of the new EchoStar Class C common$$4$,stock will not be made until the time of the%%.%&completion of the transactions because&&2&*the calculation will be subject to certain''0'(variable factors that will be determined((3(+between now and that time. We estimate that))2)*the holders of the Class C common stock of**5*the new EchoStar would be entitled to between++'+three and five votes per share.,$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&@gwDbVJ"=PF0*8X>
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l >4[d
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }I;
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DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS 1 )GM and Hughes would not agree to complete
1
)the transactions unless they were assured3+that the Hughes splitoff would be taxfree3+to GM and its stockholders for U.S. federal
2
*income tax purposes. In fact, GM?s receipt80of a ruling from the IRS confirming the taxfree5nature of the Hughes splitoff is a condition6.to the obligation of GM and Hughes to complete.&the transactions. The Hughes splitoff6.will only be taxfree to GM for these purposes.&if, among other things, General Motors2*and certain of its historical stockholders2*hold stock possessing more than 50% of the2*total voting power of the stock of the new2*EchoStar in the transactions. Accordingly,2*the terms of the various classes of common1)stock of the new EchoStar are designed to2*ensure that the stock of new EchoStar held2*by GM (other than stock that is subject to%GM debtforequity exchanges) and the3+stock of the new EchoStar issued to certain0(of GM?s historical stockholders together2*possess at least 50.5% of the voting powerD6 lvj^R:u2c[SL !"#$%&'()*+,./0123456789:;<= 2 *of the new EchoStar for at least the first!!%two years after the Hughes splitoff."#5#At the same time, EchoStar wanted to preserve$2$*at least to some degree the greater voting%4%,power that the EchoStar Class B common stock&.&¤tly has relative to the EchoStar'3'+Class A common stock. This was particularly(9(1important given that Mr. Ergen, as the beneficial)3)+owner of all of the EchoStar Class B common*5*stock and about 90% of the total voting power+9+1of EchoStar, was required to reduce substantially,4,,his current voting power in the new EchoStar1)in order to address the tax objectives of.7./GM and Hughes with respect to the transactions./8/0Mr. Ergen agreed to such a substantial reduction010)of his own voting power, including giving1/1'up voting control of EchoStar, in order222*to provide the holders of EchoStar Class A333+common stock the opportunity to participate444,in the potential benefits expected to accrue545,to them as a result of the completion of the6 6Hughes/ EchoStar merger.78*8"For more information, see page 83.9:$;____________________________1<)Created by Morningstar Document Research.0=(http://documentresearch.morningstar.com/@ Du0l)XC{9n>2=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}y<
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS ?: 2the receipt of the requisite GM common stockholder
2
*approval of each of the proposals relating80to the transactions, as described in Question 14below;
?4,the expiration or termination of the waiting2*periods applicable to the Hughes/ EchoStar.&merger under the HartScottRodino Act5and any similar law of foreign jurisdictions; ?/'the absence of any effective injunction.&or order which prevents the completionof the transactions;$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:vj^R.5`U=PF0*8X>
@
l 19
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}y<
1
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS ? %the receipt of Federal Communications
/
'Commission approval for the transfer of7/licenses and other authorizations in connection0(with the Hughes/ EchoStar merger and the
Hughes splitoff; ?1)the receipt of all other approvals of, or:2the making of all other filings with, governmental:2authorities required to complete the transactions,5other than approvals and filings, the absence6.of which, in the aggregate, are not reasonably0(likely to have a material adverse effecton the new EchoStar; ?1)the receipt by General Motors of a ruling:2by the IRS to the effect that the Hughes splitoff3+will be taxfree to GM and its stockholders%for U.S. federal income tax purposes; ?5the availability of financing for the Hughes/EchoStar merger; ?3+the approval for listing on either the NYSED lvj^R.Fkn>PD !"#$%&'()*+,./0 1 )or the Nasdaq of the Class A common stock!!4!,and Class C common stock of the new EchoStar""8"0that will be outstanding after the transactions;###and$% %?0%(the ability of the new EchoStar to issue&&.&&a minimum amount of equity immediately'''%following the Hughes/ EchoStar merger((,($without violating certain agreements))0)(with General Motors that are designed to**2**preserve the taxfree status of the Hughes+++splitoff to GM.,$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&@cEh=PF0*8X>
@00//..
l B>
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }mB
B
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS . &Satisfaction of the condition relating
4
,to new EchoStar?s ability to issue a minimum2*amount of equity will depend upon a number;3of factors that will not be known until immediately
2
*before the completion of the transactions,0(including the average market price of GM/'Class H common stock during a specified0(period preceding such time. In addition,80if necessary in order to satisfy this condition,/'the terms of the transaction agreements/'require that GM make certain reductions3+to the number of shares of the new EchoStar<4Class C common stock eligible for GM debtforequity/'exchanges after the transactions and/or1)to the amount of the dividend that Hughes5would pay to GM in connection with the Hughes0(recapitalization. You should understand,1)however, that, as indicated in Question 17/above, the number of shares of the new EchoStar=5Class C common stock available for GM debtforequity4,exchanges under the terms of the transaction1)agreements could be reduced automatically7/if the value of GM?s retained economic interestDQ lvj^R:v+j*d!UH !"#$%&'()*+,./0123456789:;<=>? / 'in Hughes following the Hughes dividend!8!0would result in GM holding less than 100 million"1")shares of the new EchoStar Class C common#/#'stock after the Hughes/EchoStar merger.$$%0%(We estimate that, were the circumstances&2&*at the time of the transactions to conform'2'*to certain assumptions described elsewhere(0((in this document, after giving effect to)/)'the required reductions, this condition*1*)would be satisfied as long as the average+4+,price of GM Class H common stock during such,6,.specified period were to exceed $ per share../.'However, GM may also choose voluntarily/?/7to reduce further the number of such GM debtforequity020*shares and/or the dividend amount in order1:12to satisfy this condition so that the transactions272/can be completed. Any such voluntary reductions373/by GM would have the effect of further reducing454the average market price of GM Class H common525*stock necessary to satisfy this condition,616)but also reducing the amount of liquidity717)to be provided to GM in the transactions.838+We cannot assure you that GM would make any909(such voluntary reductions, and a failure:/:'by GM to make such voluntary reductions;2;*could result in the transactions not being<<
completed.=>$?____________________________D ly8_]ZK
H@A1@)Created by Morningstar Document Research.0A(http://documentresearch.morningstar.com/=PF0*8X>
@AA@@??
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }6
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS 4 ,the expiration or termination of the waiting
/
'period applicable to the PanAmSat stock%sale under the HartScottRodino Act,/'the absence of any effective injunction
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&or order which prevents the completion2*of the PanAmSat stock sale and the receipt4,of FCC approval for the transfer of licenses3+in connection with the PanAmSat stock sale.1)If the PanAmSat stock sale were to occur,5Hughes would remain a wholly owned subsidiary0(of General Motors, and GM Class H common.&stockholders would remain stockholders1)of GM, but Hughes would sell its indirect)!interest in PanAmSat to EchoStar.3+For more information, see pages 92 and 204.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dlvj^R:z;w4VO7+=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}I;
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS ?/ 'a majority of the outstanding shares of
0
(GM $1 2/3 par value common stock, votingas a separate class;
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'a majority of the outstanding shares of5GM Class H common stock, voting as a separate
class; and ?91a majority of the voting power of the outstanding2*shares of GM $1 2/3 par value common stock4,and GM Class H common stock, voting together4,as a single class, based on their respective2*per share voting power as set forth in the1)GM restated certificate of incorporation.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>u0vj^R.^R{%7xl`8=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }I;
3
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS  %corporation law. However, even though
.
&such approval is not legally required,91GM is submitting all aspects of the transactions,.&including the Hughes/ EchoStar merger,
5
to GM common stockholders for their approval.0(Thus, by voting to approve the proposals/'relating to the transactions, GM common2*stockholders will be ratifying all aspects%of the transactions, including, among2*other things, the Hughes/ EchoStar merger.1)You should understand that the completion5of the Hughes/ EchoStar merger is conditioned6.on the completion of the GM/ Hughes separation4,transactions. This means that if GM?s common1)stockholders do not approve the proposals%relating to the transactions, neither/'the Hughes/ EchoStar merger nor the GM/2*Hughes separation transactions will occur.%The transactions have been structured1)so that, immediately after the completion/'of the Hughes splitoff, the businesses/'of Hughes and EchoStar will be combinedDlvj^R:v8t2ZJ
O !"#$%&'()*+,./012 0 (pursuant to the Hughes/ EchoStar merger.!!"1")The GM board of directors has unanimously#7#/approved the GM/ Hughes separation transactions$5$and the Hughes/EchoStar merger and recommends%.%&that GM common stockholders, including&/&'GM $1 2/3 par value common stockholders'0'(and GM Class H common stockholders, vote(2(*to approve each of the proposals described)3)+in this document by executing and returning*6*.the enclosed consent card as soon as possible.+,/,'For more information, see pages 171 and~
./$0____________________________11)Created by Morningstar Document Research.02(http://documentresearch.morningstar.com/*7hg ^SG=PF0*8X>
@221100
l &
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }=
&
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS 1 )Although these two proposals are separate
;
3matters to be voted upon by GM common stockholders,1)these proposals are expressly conditioned4,on each other. This means that BOTH of these
3
+proposals must be approved by GM $1 2/3 par0(value common stockholders and GM Class H5common stockholders in order for GM to obtain4,the requisite GM common stockholder approvalof the transactions.5In addition to these two proposals, GM $1 2/34,par value common stockholders and GM Class H0(common stockholders are also being asked7/to approve a third proposal, which is a further0(amendment to the GM restated certificate%of incorporation to eliminate certain4,provisions relating to the GM Class H common7/stock after the completion of the transactions.3+However, the completion of the transactions0(is not conditioned upon the requisite GM5common stockholder approval of this proposal.3+For more information, see pages 81 and 287.Dlvj^R:m)a\XJ !"#$% !"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/9d=PF0*8X>
@%%$$##
l 5A5G
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }:
5
DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS 2 *Under the rules of the NYSE, on which GM?s
0
(common stock is listed, brokers who hold1)shares in street names may not consent on4,behalf of customers to nonroutine proposals
0
(such as the approval of the transactions0(without specific instructions from those2*customers. If your shares of GM $1 2/3 par3+value common stock and/or GM Class H common2*stock are held in street name by a broker,1)your broker will vote your shares only if/'you provide instructions to your broker80on how to vote. You should follow the directions0(provided to you by your broker regarding0(how to instruct your broker to vote your/'shares. Without your instructions, your3+shares of GM common stock will not be voted2*in connection with the transactions, which3+will have the same effect as voting againstthe transactions..&EchoStar Common Stockholders. EchoStar/'common stockholders do not need to take0(any action because a trust controlled byDlvj^R:w3q.l$e"th* !"#$%&'()*+,./01234 1 )Charles W. Ergen, as the holder of all of!2!*the outstanding shares of EchoStar Class B"0"(common stock, which represents about 90%#4#,of the voting power of EchoStar, has already$0$(executed a written consent approving the%4%,Hughes/ EchoStar merger. However, we believe&0&(that it is important for EchoStar common'5'stockholders to be informed about the Hughes/((%EchoStar merger. Thus, this document,)2)*which we urge EchoStar common stockholders*6*.to review carefully, is being sent to EchoStar+1+)common stockholders for their information,
,only../.'For more information, see pages 289 and/~
/01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/.}=u5q+h\P(=PF0*8X>
@443322
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }}@
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DISH Network CORPPRE 14C
03/18/20024,QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS Q20.3 +Should I send in my stock certificates now?
A20.:2No. You should NOT send in your stock certificates=5at this time. You will receive further correspondence
.
®arding the exchange of shares after%the transactions have been completed. Q21.0(Are there different procedures if I hold0(my GM shares through an employee savings
plan? A21.4,Yes. If you are a GM $1 2/3 par value common4,stockholder or GM Class H common stockholder/'and you participate in certain employee%savings plans identified elsewhere in.&this document, your consent will serve6.as a voting instruction for the plan trustees,2*plan committees or independent fiduciaries1)of those plans, who will vote your shares%in accordance with your instructions..&Procedures differ among these employee0(savings plans with respect to the voting2*of shares for which no voting instructionsDlvj^R:@b"h)h&j !"#$%&' 7 /are received and these procedures are explained!5!in greater detail elsewhere in this document.""#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/t\PD=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14)! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}7
)
DISH Network CORPPRE 14C
03/18/2002SUMMARY ?. &?General Motors? or ?GM? means General
/
'Motors Corporation and its consolidated'subsidiaries, including Hughes.
?5
?Hughes? means Hughes Electronics Corporation*"and its consolidated subsidiaries. ?%?Hughes Holdings? means HEC Holdings,/'Inc., which is currently a wholly owned2*subsidiary of General Motors. This company0(will become the parent company of Hughes4,in connection with the GM/ Hughes separation5transactions and will be merged with EchoStar.&in the Hughes/ EchoStar merger. Hughes5Holdings will be the issuer of the securities1)that will be issued in these transactions0(and that are described in this document. ?0(?EchoStar? means EchoStar Communications6.Corporation and its consolidated subsidiaries. ?2*?New EchoStar? means the surviving company5of the merger of Hughes Holdings and EchoStarD lwSzn5K_m !"#$%&'( * "and its consolidated subsidiaries.!" "?."&?we? means GM, Hughes, Hughes Holdings##.#&and EchoStar, as the context requires.$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/Dc
=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}I;
7
DISH Network CORPPRE 14C
03/18/2002+# Hughes Electronics Corporation ?, $DIRECTV. DIRECTV includes businesses
3
+in the United States and Latin America and,.&with DIRECTV Broadband, Inc., formerly5known as Telocity Delaware, Inc., constitutes
1
)Hughes? directtohome broadcast segment.2*As of December 31, 2001, DIRECTV had about.&10.7 million subscribers in the United3+States and 1.6 million subscribers in LatinAmerica. ?.&Hughes Network Systems. Hughes Network0(Systems, which has more than a 50% share4,of the global market for very small aperture.&terminal private business networks and5101,000 DIRECWAY broadband consumer customers0(as of December 31, 2001, constitutes the1)network systems segment of Hughes. Hughes1)Network Systems is one of the two largest,$manufacturers of DIRECTV? subscriber2*equipment, having shipped over 8.0 million5units. Hughes Network Systems is also leading7/the development of SPACEWAY?, a nextgeneration0(satellitebased broadband communicationsD lsg[7UiMg}0I !"#$%&'()*+,./0123456 6 .platform that is expected to provide customers!!4!,with highspeed, twoway data communications""3"+on a more costefficient basis than systems##.#&that are currently available. SPACEWAY$$6$.is expected to launch service in North America%%%in 2004.&' '?3'+PanAmSat. PanAmSat, a publicly held company((9(1of which subsidiaries of Hughes own approximately))3)+81%, constitutes Hughes? satellite services**9*1segment. PanAmSat owns and operates 21 satellites++0+(that are capable of transmitting signals,,2,*to geographic areas covering a substantial3+portion of the world?s population. PanAmSat..8.0provides satellite capacity for the transmission//5/of cable and broadcast television programming0010)from the content source to the consumer?s11&1home or to the cable operator.23$4____________________________15)Created by Morningstar Document Research.06(http://documentresearch.morningstar.com/2^sG;GX d=PF0*8X>
@665544
l Q6
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}:
DISH Network CORPPRE 14C
03/18/2002 New EchoStar ?8 0GM?s receipt of a dividend of up to $4.2 billion
from Hughes; ?5as and to the extent applicable, GM?s benefit
.
&from debt reduction resulting from any)!GM debtforequity exchanges; and ?7/as and to the extent applicable, GM?s retention0(of shares of New EchoStar Class C common0(stock following the completion of any GM"debtforequity exchanges.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6ymIfw+a=PF0*8X>
@
l <pz
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}:
<
DISH Network CORPPRE 14C
03/18/2002 New EchoStar ?, $Hughes Recapitalization. Immediately
3
+before the splitoff of Hughes from General6.Motors, Hughes will declare and pay a dividend2*of up to $4.2 billion to General Motors in

%exchange for a commensurate reduction5of GM?s retained economic interest in Hughes.0(This reduction of GM?s retained economic80interest in Hughes will be effected by adjusting0(the GM Class H fraction, as described in2*greater detail elsewhere in this document.1)We sometimes refer to the payment of this7/dividend as the ?Hughes dividend distribution.?/'After the Hughes dividend distribution,1)GM will contribute all of the outstanding1)stock of Hughes to Hughes Holdings, which/'will result in Hughes Holdings becoming0(the parent company of Hughes. After this.&contribution, General Motors will hold5a number of shares of Hughes Holdings Class C7/common stock equal to the number of outstanding7/shares of GM Class H common stock plus a number4,of shares representing the remaining portionD
lymI_w+=y.Ib !"#$%&'()*+,./0123456789:; 5 of GM?s retained economic interest in Hughes.!!0!(We sometimes refer to these transactions""6".collectively as the ?Hughes recapitalization.?###$ $?/$'Hughes SplitOff. Immediately after the%%6%.Hughes dividend distribution and the reduction&&4&,of GM?s retained economic interest in Hughes''0'(pursuant to the Hughes recapitalization,((.(&General Motors will distribute to each))/)'GM Class H common stockholder one share**/*'of Hughes Holdings Class C common stock++7+/in exchange for each share of GM Class H common,,5,stock they own. As a result of this exchange,3+all outstanding shares of GM Class H common..0.(stock will be redeemed and canceled. Any//0/(shares of Hughes Holdings Class C common0040,stock that are not distributed to GM Class H11/1'common stockholders will continue to be22/2'held by General Motors immediately upon33/3'the completion of the Hughes splitoff.44/4'The number of shares of Hughes Holdings5565.Class C common stock, if any, held by GM after666the78$9____________________________1:)Created by Morningstar Document Research.0;(http://documentresearch.morningstar.com/< cOi/HbzSG;=PF0*8X>
@;;::99
l 
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}=

DISH Network CORPPRE 14C
03/18/2002 New EchoStar ?3 +eliminate duplicate programming and utilize
/
'reclaimed broadcast spectrum to deliver+#more program and service offerings;
?4
,standardize the EchoStar and DIRECTV settop/'boxes, which is expected to both reduce/'manufacturing costs and enable improvedantipiracy protection; ?5combine and improve the distribution networks of EchoStar and DIRECTV; ?.&consolidate customer service and other&facilities and infrastructure; ?,$reduce subscriber acquisition costs,/'subscriber churn, programming costs and'eliminate duplicative overhead; ?,$introduce localintolocal broadcast0(channel service in all designated marketareas;D4lymIg[
t9Hf# !"#$%&'()*+, ?, $expand twoway highspeed broadband;!!!" "?;"3expand highdefinition television, videoondemand,##0#(payperview and educational programming$$$offerings; and%& &?2&*generate new sources of local and national'''advertising revenue.()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/;b*=PF0*8X>
@,,++**
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)New EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}$4
DISH Network CORPPRE 14C
03/18/2002%Structure of the Transactions ?3 +BEFORE THE TRANSACTIONS: the organizational
1
)structures of GM, Hughes Holdings, Hughes%and EchoStar before the Transactions;
?.
&THE HUGHES RECAPITALIZATION: the steps1)involved in and the effects of the Hughes.&recapitalization on GM and Hughes; and ?2*AFTER THE TRANSACTIONS: the organizational1)structures of GM, Hughes Holdings, Hughes.&and New EchoStar immediately after the
Transactions.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8yma=W3QG
=PF0*8X>
@
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}8
#
DISH Network CORPPRE 14C
03/18/2002!New EchoStar Common Stock ?1 )each share of New EchoStar Class A common
1
)stock will entitle the holder to one vote2*in the election of directors and all other%matters submitted to stockholders for
their approval; ?1)each share of New EchoStar Class B common/'stock will initially entitle the holder0(to 10 votes in the election of directors7/and all other matters submitted to stockholders0(for their approval, subject to reduction.&under certain circumstances during the/'first two years after the completion of5the Hughes splitoff to preserve the taxfree1)status to GM of the Hughes splitoff; and ?1)each share of New EchoStar Class C common1)stock will entitle the holder to a number1)of votes in the election of directors and3+all other matters submitted to stockholders+#for their approval that will ensureD! l}qeAX7LfZ
w !"$ ____________________________1!)Created by Morningstar Document Research.0"(http://documentresearch.morningstar.com/
(=PF0*8X>
@""!!
l .zae
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common Stock!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}:
.
DISH Network CORPPRE 14C
03/18/2002!New EchoStar Common Stock ?5 extraordinary matters for which a stockholder
5
vote is required under applicable corporation/'law, such as mergers, amendments to the1)New EchoStar certificate of incorporation
/
'(including changes in the rights of the3+shares of New EchoStar Class B common stock1)and any increase in the authorized number0(of shares of New EchoStar Class B common3+stock or New EchoStar Class C common stock)and dissolution; ?1)matters for which a stockholder vote will3+be required by the rules of the NYSE or the/'Nasdaq, as applicable, including, among0(other things, certain issuances of stock2*in excess of 20% of the total voting powerof New EchoStar; ?0(any sale or acquisition of a significant!business of New EchoStar; ?3+any amendment by stockholders to the bylawsof New EchoStar;D l}qeASlPD\5 !"#$%&'()*+, ! !?5!any issuance of common stock (or equivalents)""7"/of New EchoStar in excess of 10% of the average##6#.fully diluted shares over the prior 12 months;$$$and%& &?8&0the adoption by New EchoStar of any equitybased''1')benefit plan for directors and employees.((()*$+____________________________1,)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/ Ou(=PF0*8X>
@,,++
l 5Z
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1) Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}y<
5
DISH Network CORPPRE 14C
03/18/20021)Conditions to Completing the Transactions ?: 2the receipt of the requisite GM common stockholder
2
*approval of each of the proposals relatingto the Transactions;
?4
,the expiration or termination of the waiting2*periods applicable to the Hughes/ EchoStar.&merger under the HartScottRodino Act5and any similar law of foreign jurisdictions; ?/'the absence of any effective injunction.&or order which prevents the completionof the transactions; ?4,the receipt of FCC approval for the transfer/'of licenses and other authorizations in3+connection with the Hughes/ EchoStar merger!and the Hughes splitoff; ?1)the receipt of all other approvals of, or4,the making of all filings with, governmental:2authorities required to complete the Transactions,5other than approvals and filings, the absence6.of which, in the aggregate, are not reasonablyD; lymaU1TH_Tt%> !"#$%&'()*+,./01234 0 (likely to have a material adverse effect!!!on New EchoStar;"# #?1#)the receipt by General Motors of a ruling$$:$2by the IRS to the effect that the Hughes splitoff%%3%+will be taxfree to GM and its stockholders&&&%for U.S. federal income tax purposes;'( (?5(the availability of financing for the Hughes/)))EchoStar merger;*+ +?3++the approval for listing on either the NYSE,,1,)or the Nasdaq of the New EchoStar Class A4,common stock and New EchoStar Class C common..0.(stock that will be outstanding after the///Transactions; and01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/.!t&8,Ja, =PF0*8X>
@443322
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the TrComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}I;
DISH Network CORPPRE 14C
03/18/2002&Required Stockholder Approvals ?/ 'a majority of the outstanding shares of
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(GM $1 2/3 par value common stock, votingas a separate class;
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'a majority of the outstanding shares of5GM Class H common stock, voting as a separate
class; and ?91a majority of the voting power of the outstanding2*shares of GM $1 2/3 par value common stock4,and GM Class H common stock, voting together4,as a single class, based on their respective5per share voting power pursuant to provisions0(set forth in the GM restated certificateof incorporation.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>z0xl`
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }}$
DISH Network CORPPRE 14C
03/18/2002%Comparative Market Price Data
Share Price Share Price
Equivalent
Equivalent GM $1 2/3
GM
EchoStar
(EchoStar Class A(GM Class H Par ValueClass H
Class A
Common Stock) forCommon Stock) for
Common Stock
Common Stock
Common Stock
GM Class H
EchoStar Class A
Price
Price
Price
Common StockCommon Stock
October 26, 200133333F@33333.@
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price Data
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
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DISH Network CORPPRE 14C
03/18/2002Income Statement
2
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }%}$ }}$ }}
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DISH Network CORPPRE 14C
03/18/2002
Balance Sheet
2
*As of and for the years ended December 31, Pro Forma Pro Forma
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2001(b)
~
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~
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~
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~
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$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@wD}qMu+~rJ=PF0*8X>
@
l 5!
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }I}y<
5
DISH Network CORPPRE 14C
03/18/2002NO TITLE~
. &Earnings per share attributable to the
4
,GM Class H common stock are determined based4,on the relative amounts of Hughes net income.&available for the payment of dividends
1
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4,The amounts for GM Class H common stock have2*been adjusted to reflect the threeforone:2stock split, in the form of a 200% stock dividend,paid on June 30, 2000.~
:2The amounts for GM Class H common stock subsequent/'to its recapitalization, as part of the2*Hughes restructuring transactions, present/'the earnings attributable to GM Class H7/common stock subsequent to its recapitalization/'on December 17, 1997 related to Hughes,%consisting principally of its digitalDlv^XKM}>v !"#$%&'()*+,./01234 8 0entertainment services, satellite communications!,!$services and satellitebased private"%"business networks businesses.#~
$5$The amounts for GM Class H common stock prior%/%'to its recapitalization, as part of the&2&*Hughes restructuring transactions, present'/''the earnings attributable to GM Class H(2(*common stock prior to its recapitalization)/)'on December 17, 1997 related to Hughes,**%consisting principally of its defense+++#electronics, automotive electronics,2,*and telecommunications and space business.~
.9.1Amounts represent GM?s automotive, communications/+/#services and other operations only.01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/.G;s4v;[OC=PF0*8X>
@443322
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLEIncome Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}7
DISH Network CORPPRE 14C
03/18/2002?7Hughes Selected Historical and Pro Forma Financial Data ?0 (the taxfree spinoff of Hughes? defense
4
,electronics business to holders of GM $1 2/31)par value common stock and old GM Class H
common stock;
?6.the transfer of Delco Electronics Corporation,0(Hughes? automotive electronics business,2*to GM?s Delphi Automotive Systems business4,sector, which is now a separate corporation;and ?2*the recapitalization of the old GM Class H5common stock into the GM Class H common stock&that is currently outstanding.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/</k_SG#9]=j=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }}$ }
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D
DISH Network CORPPRE 14C
03/18/2002Income Statement
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////////////$0 Cash and cash equivalents0~
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0+01 Total current assets11~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! 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Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }}$ }U}$ } U}
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Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }0.}$ }U}$ }U} $ }$}
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Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)Income Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }}$ }
}$ }
} $ }
}
$ }
}$ }
}$
"
DISH Network CORPPRE 14C
03/18/2002A9EchoStar Selected Historical and Pro Forma Financial Data
2
*As of and for the years ended December 31,~
F~
B
~
>~
:~
6
/'(in millions, except subscriber and persubscriber data) Other Data:
2* DISH Network subscribers (in thousands)~
j~
2R
~
J5
~
R~
B3+ Average monthly revenue per subscriber)\H@
ףp=F@
{GZE@
C@@C@ EBITDA(1)~
~
~
N
~
~
66. Less amortization of subscriber acquisition ? ?
?
~
~
costs6. EBITDA, as adjusted to exclude amortization~
~
~
N
~
f~
N'of subscriber acquisition costs Net cash flows from:
Operating activities~
~
&
~
~
?Investing activities~
~
~
~
~
Financing activities~
.~
Z
~
b
~
~
$____________________________DXli]QE=q&\Kh\ !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X>
@!!
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical an!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }8}$ }}$
DISH Network CORPPRE 14C
03/18/2002Income Statement
As of and for
the year endedDecember 31,~
F
(in millions)*" Statement of Operations Data: Total revenues~
% Total operating costs and expenses~
" Operating profit (loss)~
7/ Net loss attributable to common stockholders~
Balance Sheet Data: Total assets~
Longterm debt~
Stockholders? equity~
B$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dlzn2yU$G\k*znF=PF0*8X>
@b
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }6}$ } }$ }
}$
DISH Network CORPPRE 14C
03/18/20021)GM Common Stock Historical Per Share Data
As of and forthe year endedDecember 31, 2001
GM $1 2/3
GM Par ValueClass HCommon StockCommon Stock3+ Basic earnings per share from continuing{Gz? operations5 Diluted earnings per share from continuingRQ? operations# Cash dividends per share~
? Book value per share
ףp=8@ףp=
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }I;}$ } }$ }
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DISH Network CORPPRE 14C
03/18/20020(GM Common Stock Pro Forma Per Share Data
As of and forthe year endedDecember 31, 2001
GM $1 2/3
GM Par ValueClass HCommon StockCommon Stock91 Giving Effect to the GM/ Hughes Separation Transactions :3+ Basic earnings per share from continuing333333@
$? operations5 Diluted earnings per share from continuing
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }!}$ }
}$
DISH Network CORPPRE 14C
03/18/20027/EchoStar Common Stock Historical Per Share Data
As of and for
the year endedDecember 31, 2001
Loss per share
ܿ
# Cash dividends per share ? Book value per shareQ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.sg[O{W_SG=PF0*8X>
@:
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }!}$ }
}$
DISH Network CORPPRE 14C
03/18/2002A9EchoStar Common Stock Equivalent Pro Forma Per Share Data
As of and for
the year endedDecember 31, 2001
Loss per share
ףp=
# Cash dividends per share ? Book value per shareQ2@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.i]QE qMUI==PF0*8X>
@:
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }!}$ }
}$
DISH Network CORPPRE 14C
03/18/2002:2New EchoStar Common Stock Pro Forma Per Share Data
As of and for
the year endedDecember 31, 2001
Loss per share
Q
# Cash dividends per share ? Book value per share33333+@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.pdXLxT
\PD=PF0*8X>
@:
l R%
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro FRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }!}$ }
}$
DISH Network CORPPRE 14C
03/18/20026.EchoStar Common Stock Pro Forma Per Share Data
As of and for
the year endedDecember 31, 2001
Loss per share
ףp=
# Cash dividends per share ? Book value per share$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.th\PX`TH =PF0*8X>
@:
l \
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro Forma! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}7
DISH Network CORPPRE 14C
03/18/2002RISK FACTORS ?2 *the Transactions, including the GM/ Hughes
/
'separation transactions and the Hughes/1)EchoStar merger, and how they will impact1)GM, Hughes, EchoStar and New EchoStar and
+
#your investment in these companies; ?&GM after the Transactions; and ?6.New EchoStar after the Transactions, including0(with respect to its business, liquidity,0(financing activities, regulatory mattersand capital stock.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8Z~rNgx%WK?=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}7
DISH Network CORPPRE 14C
03/18/2002+# Risks Relating to New EchoStar ? %coordinating geographically separated
organizations; ?+#integrating technologies (including
6
.the development of a costeffective integrated
receiver); ?3+integrating personnel with diverse businessbackgrounds; and ?/'combining different corporate cultures.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8sg[7gWK=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}U5
DISH Network CORPPRE 14C
03/18/2002D<Materially Adversely Affect Hughes#146; Financial Condition. ?4 ,the expiration or termination of the waiting
/
'period applicable to the PanAmSat stock%sale under the HartScottRodino Act;
?/
'the absence of any effective injunction.&or order which prevents the completion'of the PanAmSat stock sale; and ?4,the receipt of FCC approval for the transfer3+of licenses in connection with the PanAmSatstock sale.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6<fZNB9<0aUI!=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}U5
DISH Network CORPPRE 14C
03/18/2002;3 Risks Relating to the Business of New EchoStar ?0 (providing service to multiple television
2
*sets within the same household at a lesser)!incremental cost to the consumer;
?
%providing local and other programming/'in a larger number of geographic areas;and ?0(bundling their analog video service with1)expanded digital video services delivered1)terrestrially or via satellite, efficient/'twoway highspeed Internet access, and4,telephone service on upgraded cable systems.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<ocWK'G;s&A=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}6
DISH Network CORPPRE 14C
03/18/2002;3 Risks Relating to the Business of New EchoStar ?/ 'develop its internal and external sales
forces; ?( develop installation capability;
?/'develop customer service operations andinformation systems; ?.&maintain the existing relationships of5Hughes and EchoStar with third party vendors;and ?3+expand, train and manage its employee base.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<YocWK'_Sx'th@=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}I;
&
DISH Network CORPPRE 14C
03/18/2002;3 Risks Relating to the Business of New EchoStar ? %limitations and disruptions resulting
3
+from the imposition of government controls; ?91difficulties meeting export license requirements;
?%obtaining and/or maintaining licenses*"necessary to conduct its business; ?*"economic or political instability; ?trade restrictions; ?changes in tariffs; ?currency fluctuations; ?5greater difficulty in pursuing legal remedies7/against foreign business partners or customers; ?7/greater difficulty in safeguarding intellectual
property; and ?6.difficulties in managing overseas subsidiariesDlocWK'j`T
y>2i !"#$% % and international operations.!"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/bd=PF0*8X>
@%%$$##
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}2
DISH Network CORPPRE 14C
03/18/2002;3 Risks Relating to the Business of New EchoStar ?* "the quality of their construction;
?0(the durability of their component parts;
?2
*the ability to continue to maintain proper.&orbit and control over the satellite?s
functions; ?2*the efficiency of the launch vehicle used;and ?%the remaining onboard fuel followingorbit insertion.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:5ocWK'cAxP=PF0*8X>
@
l !
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}8
!
DISH Network CORPPRE 14C
03/18/2002QI Risks Relating to Liquidity and Financing Activities of New EchoStar ?7 /unanticipated additional financing requirements
.
&to fund capital expenditures and costs/'and expenses in connection with funding2*its operations, domestic and international
/
'investments and its growth strategy and&the repayment of indebtedness; ?.&departures from Hughes? and EchoStar?s)!respective current business plan; ?unforeseen delays; ?cost overruns; ?unanticipated expenses; ?$regulatory developments; and ?&technological and other risks.$____________________________1)Created by Morningstar Document Research.DlYMA5s(MAnb/#K?3 0 (http://documentresearch.morningstar.com/H=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}$4
DISH Network CORPPRE 14C
03/18/2002QI Risks Relating to Liquidity and Financing Activities of New EchoStar ?& incur additional indebtedness;
?issue preferred stock;
?
sell assets; ?&create, incur or assume liens; ?*"merge, consolidate or sell assets; ?/'determine not to selfinsure certain ofits satellites; ?0(enter into transactions with affiliates;and ?3+pay dividends and make other distributions.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DlYMA5{J>PA=PF0*8X>
@
l !PP
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}8
!
DISH Network CORPPRE 14C
03/18/2002H@ Risks Relating to Regulatory Matters Affecting New EchoStar ?1 )the relocation of satellites to different
/
'orbital locations if the FCC determines3+that relocation is in the public interest;
?3
+the rejection by the FCC of the replacement6.of an existing satellite with a new satellite; ?,$regulation by governments, including7/the U.S. government, of satellite transmissions1)that have the potential to interfere with1)government operations, or other satellite%or terrestrial commercial operations,1)which could interfere with New EchoStar?s,$contractual obligations to customers)!or other business operations; and ?.&revocation of currently unused orbital6.slots provided to New EchoStar if not utilized*"prior to certain expiration dates.$____________________________1)Created by Morningstar Document Research.DlbVJ>2lH_4F 0 (http://documentresearch.morningstar.com/H=PF0*8X>
@
l 8<͑
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}I;
8
DISH Network CORPPRE 14C
03/18/2002H@ Risks Relating to Regulatory Matters Affecting New EchoStar ? %potential loss of currently allocated
0
(frequencies if those frequencies are not6.used by a certain date or if other obligations80with respect to those frequencies are determined
(
by the FCC not to have been met; ?/'potential loss of frequencies available3+pursuant to a ?special temporary authority?4,granted for up to 180 days which the FCC may80refuse to grant or renew and that may be subject,$to restrictive conditions, including3+special temporary authority for EchoStar IIand EchoStar III; ?.&third party opposition against some of0(New EchoStar?s authorizations or pending'and future requests to the FCC; ?.&relocation of satellites either within91or slightly outside the ?cluster? of a particular6.orbital location, or from one orbital location2*to another, where New EchoStar has various/'types of authorizations, which requiresDz lbVJ>2BOw,F !"#$%&'()*+,./01234567
FCC approval;!" "?3"+requests by the states of Alaska and Hawaii##/#'that the FCC impose conditions relating$$6$.to certain aspects of EchoStar?s and DIRECTV?s%%7%/service, which the FCC has denied for specified&&0&(conditions but has cautioned that it may''/''impose similar requirements as a result(( (of a pending rulemaking;)* *?/*'arguments from the states of Alaska and++4+,Hawaii that EchoStar?s and DIRECTV?s service,,6,.to these states from various orbital locations4,does not comply with FCCimposed obligations...to serve those states;/0 0?/0'required approvals from the FCC for the1151launch and operation of additional satellites22'2at specified orbital locations;34$5____________________________16)Created by Morningstar Document Research.07(http://documentresearch.morningstar.com/4Is(7Xf, @4(=PF0*8X>
@776655
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}I;
'
DISH Network CORPPRE 14C
03/18/2002H@ Risks Relating to Regulatory Matters Affecting New EchoStar ?0 (inadvertent failure to file with the FCC

%the necessary application to transfer91control over certain Earth station authorizations*"in connection with an acquisition;
?.&foreign government objection to use of6.certain Cband spectrum for certain telemetry,( tracking and control operations; ?2*lapse of authorizations for use of certain7/extended Cband spectrum for certain telemetry,2*tracking and control operations, for which4,EchoStar has timely applied for an extensionof that authorization; ?0(an FCC ruling that will allow commercial.&terrestrial services and hamper future3+satellite operations in the extended Cbandfrequencies; ?5proceeding regarding the FCC?s interpretation%of the ?must carry? requirements; andDlbVJ>/@NvjTH !"#$%& ?4 ,several other pending requests, applications!!)!!and petitions on various matters."#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/xj^R*=PF0*8X>
@&&%%$$
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)THE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}$4
DISH Network CORPPRE 14C
03/18/2002@8 Risks Relating to the Capital Stock of New EchoStar ?3 +competition and changes in the subscription
television industry; ?regulatory changes;
?&launch and satellite failures; ?%operating results below expectations; ?,$New EchoStar?s strategic investmentsand acquisitions; and$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6j^RF"VJD=PF0*8X>
@
l 7
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}0.
DISH Network CORPPRE 14C
03/18/2002THE TRANSACTIONS ?. &the GM/Hughes separation transactions;
?#the Hughes/EchoStar merger;
?
the PanAmSat stock sale; ?%the GM debtforequity exchanges; and ?%certain related transactions.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2znJj^=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONS Introduction! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}8
DISH Network CORPPRE 14C
03/18/2002THE TRANSACTIONS ?* "GM?s reasons for the Transactions;
?1)alternative transactions involving Hughes3+which have been considered by GM and Hughes
2
*in connection with developing the proposed
Transactions; ?.&background information relating to the4,development by GM and Hughes of the proposedTransactions; and ?2*certain other important matters, including7/the recommendation of the GM board of directors,$and the effects of the Transactions.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<znJZ4Q =PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1)! Background Regarding GM146! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}y<
/
DISH Network CORPPRE 14C
03/18/2002 Introduction ?: 2the receipt of the requisite GM common stockholder
1
)approval of the proposals relating to the
Transactions;
?4
,the expiration or termination of the waiting1)periods applicable to the Hughes/EchoStar.&merger under the HartScottRodino Act5and any similar law of foreign jurisdictions; ?/'the absence of any effective injunction.&or order which prevents the completionof the Transactions; ?4,the receipt of FCC approval for the transfer/'of licenses and other authorizations in3+connection with the Hughes/ EchoStar merger!and the Hughes splitoff; ?1)the receipt of all other approvals of, or:2the making of all other filings with, governmental:2authorities required to complete the Transactions,5other than approvals and filings, the absence6.of which, in the aggregate, are not reasonablyD lpLwk2x@4I\ !"#$%&'()*+,. 0 (likely to have a material adverse effect!!!on New EchoStar;"# #?3#+the receipt by GM of a ruling by the IRS to$$1$)the effect that the Hughes splitoff will%%2%*be taxfree to GM and its stockholders for&&)&!U.S. federal income tax purposes;'( (?5(the availability of financing for the Hughes/)))EchoStar merger;*+$,____________________________1)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/"#t$D8r=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! The Hughes Recapitali! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2) Certain Other Coven (3) Certain Other Coven (4) Certain Other Coven (5)! Preservation of the TaxFre! Other General Indemnificat! Other General Indemnif (1)! Other General Indemnif (2)! Other General Indemnif (3)! Other General Indemnif (4)! The Hughes Recapitalizatio! The Hughes Recapitaliz (1)! Hughes Recapitalization Cl! Hughes Recapitalizatio (1)! Hughes Recapitalizatio (2)! Hughes Recapitalizatio (3)! Hughes Recapitalizatio (4)! Ancillary Separation Agree! Conversion of EchoStar Com! Boards Committees and Offi! Boards Committees and (1)! Boards Committees and (2)! Boards Committees and (3)! Boards Committees and (4)! Boards Committees and (5)! Boards Committees and (6)! Boards Committees and (7)! Boards Committees and (8)! Boards Committees and (9)! Boards Committees and (10)! Boards Committees and (11)! Boards Committees and (12)! Boards Committees and (13)! Representations and Warran! Representations and Wa (1)! Representations and Wa (2)! Director and Officer Indem! Director and Officer I (1)! Termination Fees Expense R! Termination Fees Expen (1)!PanAmSat Stock Purchase Agreeme! Purchase Price Form of Con! Purchase Price Form of (1)! Purchase Price Form of (2)! Purchase Price Form of (3)! Purchase Price Form of (4)! Purchase Price Form of (5)! Purchase Price Form of (6)! Purchase Price Form of (7) Indemnification Indemnification (1) Indemnification (2)! Employee Matters Agreement! Employee Matters Agree (1)GM CAPITALIZATIONGM CAPITALIZATION (1)Shareholders EquityIncome Statement (4)!Condensed Consolidated FinanciaShareholders Equity (1)Income Statement (5)!Condensed Consolidated Fina (1)Income Statement (6)!CONDENSED CONSOLIDATED FINA (2)!CONDENSED CONSOLIDATED FINA (3)!CONDENSED CONSOLIDATED FINA (4)!CONDENSED CONSOLIDATED FINA (5)Income Statement (7)!CONSOLIDATED STATEMENT OF OPERA!CONSOLIDATED STATEMENT OF O (1)!CONSOLIDATED STATEMENT OF O (2)!CONSOLIDATED STATEMENT OF O (3)!CONSOLIDATED STATEMENT OF O (4)!CONSOLIDATED STATEMENT OF O (5)Income Statement (8)!CONSOLIDATED STATEMENT OF O (6)!CONSOLIDATED STATEMENT OF O (7)!CONSOLIDATED STATEMENT OF O (8)!CONSOLIDATED STATEMENT OF O (9)Board of DirectorsExecutive OfficersGM CAPITAL STOCKGM CAPITAL STOCK (1)GM Preferred Stock Liquidation Preference!GM146s DualClass Common Stock C!GM146s DualClass Common Sto (1)! Diverging Interests of GM ! GM Board Policy Statement GM Board Policy State (1)ECHOSTAR CAPITAL STOCK! EchoStar Series D ConvertiNEW ECHOSTAR CAPITAL STOCKCommon Stock!Limitation on Liability of Dire!Section 203 of the Delaware Gen!Section 203 of the Delaware (1)Certain Governance Provisions New EchoStar Common Stock
Comparison! Indemnification and Limita! Indemnification and Li (1)! Indemnification and Li (2)! State AntiTakeover Statute! State AntiTakeover Sta (1)! State AntiTakeover Sta (2)! State AntiTakeover Sta (3) Appraisal Rights Appraisal Rights (1) Record DateGM Class H Common StockGM Class H Common Stock (1) Matters to be Approved! Matters to be Approved (1)! Matters to be Approved (2)! Matters to be Approved (3)! Certain Employee Savings P! Certain Employee Savin (1)! Certain Employee Savin (2)! Certain Employee Savin (3)Beneficial Ownership NonEmployee DirectorsNO TITLE (2)! Named Executive Officers and NO TITLE (3) Certain Beneficial OwnersNO TITLE (4)Beneficial Ownership (1)!Security Ownership of Certain B!Security Ownership of Certa (1)!Security Ownership of Certa (2)NO TITLE (5)NO TITLE (6)NO TITLE (7)!DISCLOSURE REGARDING FORWARDLOO!DISCLOSURE REGARDING FORWAR (1)!DISCLOSURE REGARDING FORWAR (2)!WHERE YOU CAN FIND MORE INFORMA!WHERE YOU CAN FIND MORE INF (1)!WHERE YOU CAN FIND MORE INF (2)!WHERE YOU CAN FIND MORE INF (3)!DIVISION I COMMON STOCK AND CLA!DIVISION I COMMON STOCK AND (1)!DIVISION I COMMON STOCK AND (2)!DIVISION I COMMON STOCK AND (3)!DIVISION I COMMON STOCK AND (4)!DIVISION I COMMON STOCK AND (5)!DIVISION I COMMON STOCK AND (6)!DIVISION I COMMON STOCK AND (7)!DIVISION I COMMON STOCK AND (8)!DIVISION I COMMON STOCK AND (9)AND CLASS H COMMON STOCKAND CLASS H COMMON STOCK (1)AND CLASS H COMMON STOCK (2)AND CLASS H COMMON STOCK (3)AND CLASS H COMMON STOCK (4)AND CLASS H COMMON STOCK (5)AND CLASS H COMMON STOCK (6)AND CLASS H COMMON STOCK (7)!Merrill Lynch Pierce Fenner 38 Merrill Lynch Pierce Fenne (1) Merrill Lynch Pierce Fenne (2) Merrill Lynch Pierce Fenne (3)Bear Stearns Fairness OpinionBear Stearns Fairness Opi (1)PERSONAL AND CONFIDENTIAL!Deutsche Banc Alex Brown FairneBalance Sheet (2) Independent Auditors146 ReportU }$ }$}:
DISH Network CORPPRE 14C
03/18/2002OG Background Regarding GM#146;s Retained Economic Interest in Hughes ?8 0GM?s receipt of the Hughes dividend distribution
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to GM of up to $4.2 billion; ?5as and to the extent applicable, GM?s benefit
3
+from debt reduction resulting from debtfor5equity exchanges for up to 100 million shares6.of GM Class H common stock and/or New EchoStar0(Class C common stock, as applicable; and ?7/as and to the extent applicable, GM?s retention4,of any shares of New EchoStar Class C common0(stock following the completion of any GM"debtforequity exchanges.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:5[OC7~r .jxP=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Y!Information Statement Pursuant !To the common stockholders of EADDITIONAL INFORMATIONTABLE OF CONTENTSTABLE OF CONTENTS (1)TABLE OF CONTENTS (2)TABLE OF CONTENTS (3)!QUESTIONS AND ANSWERS ABOUT THE!QUESTIONS AND ANSWERS ABOUT (1)!QUESTIONS AND ANSWERS ABOUT (2)!QUESTIONS AND ANSWERS ABOUT (3)!QUESTIONS AND ANSWERS ABOUT (4)!QUESTIONS AND ANSWERS ABOUT (5)!QUESTIONS AND ANSWERS ABOUT (6)!QUESTIONS AND ANSWERS ABOUT (7)!QUESTIONS AND ANSWERS ABOUT (8)!QUESTIONS AND ANSWERS ABOUT (9)!QUESTIONS AND ANSWERS ABOU (10)!QUESTIONS AND ANSWERS ABOU (11)!QUESTIONS AND ANSWERS ABOU (12)!QUESTIONS AND ANSWERS ABOU (13)!QUESTIONS AND ANSWERS ABOU (14) SUMMARY! Hughes Electronics Corpora New EchoStar New EchoStar (1) New EchoStar (2)Structure of the TransactionsNew EchoStar Common StockNew EchoStar Common Stock (1)!Conditions to Completing the Tr Required Stockholder ApprovalsComparative Market Price DataIncome Statement
Balance Sheet
NO TITLE!Hughes Selected Historical and Income Statement (1)Income Statement (2)Balance Sheet (1)!EchoStar Selected Historical anIncome Statement (3)!GM Common Stock Historical Per !GM Common Stock Pro Forma Per S!EchoStar Common Stock Historica!EchoStar Common Stock Equivalen!New EchoStar Common Stock Pro F!EchoStar Common Stock Pro FormaRISK FACTORS! Risks Relating to New Echo!Materially Adversely Affect Hug! Risks Relating to the Busi! Risks Relating to the (1)! Risks Relating to the (2)! Risks Relating to the (3)! Risks Relating to Liquidit! Risks Relating to Liqu (1)! Risks Relating to Regulato! Risks Relating to Regu (1)! Risks Relating to Regu (2)! Risks Relating to the CapiTHE TRANSACTIONSTHE TRANSACTIONS (1) Introduction! Background Regarding GM146! The Hughes Recapi (1)! The Hughes Recapi (2)! Other SeparationRelat The Hughes EchoStar Merger The Hughes EchoStar Me (1) The Hughes EchoStar Me (2) The Hughes EchoStar Me (3)! HughesEchoStar Merger Fina PanAmSat Stock Sale! Alternatives to the Transa! GM146s Development of the GM146s Development of (1)! Merrill Lynch Fairness Opi! Merrill Lynch Fairness (1)! Merrill Lynch Fairness (2)! Merrill Lynch Fairness (3)!assumptions underlying the anal!assumptions underlying the (1)!assumptions underlying the (2)!assumptions underlying the (3)!assumptions underlying the (4)!assumptions underlying the (5)!assumptions underlying the (6)!assumptions underlying the (7)!assumptions underlying the (8)!assumptions underlying the (9)!assumptions underlying the (10)!assumptions underlying the (11)!assumptions underlying the (12)!assumptions underlying the (13)!assumptions underlying the (14)!assumptions underlying the (15)!assumptions underlying the (16)!assumptions underlying the (17)!assumptions underlying the (18)!assumptions underlying the (19)!assumptions underlying the (20)!assumptions underlying the (21)!assumptions underlying the (22)!assumptions underlying the (23)!assumptions underlying the (24)!assumptions underlying the (25)!assumptions underlying the (26)!assumptions underlying the (27)!assumptions underlying the (28)!assumptions underlying the (29)!financial point of view to the financial point of view to (1) financial point of view to (2) financial point of view to (3) financial point of view to (4) financial point of view to (5) financial point of view to (6) financial point of view to (7) financial point of view to (8) financial point of view to (9) financial point of view t (10) financial point of view t (11) financial point of view t (12) financial point of view t (13) financial point of view t (14) financial point of view t (15)! Credit Suisse First Bost! Credit Suisse First (1)! Goldman Sachs Fairnes! Goldman Sachs Fai (1)! Goldman Sachs Fai (2)! Goldman Sachs Fai (3)! Pro Forma Combination! Pro Forma Combina (1)! Pro Forma Combina (2)! Pro Forma Combina (3)! Relative Valuation of! Relative Valuatio (1)! Relative Valuatio (2)! Relative Valuatio (3)! Relative Valuatio (4)! Relative Valuatio (5)! Relative Valuatio (6)!EchoStar Background and Conside!EchoStar Background and Con (1)!EchoStar Background and Con (2)!EchoStar Background and Con (3)!EchoStar Background and Con (4)! Deutsche Banc Alex Br! Deutsche Banc Ale (1)! Deutsche Banc Ale (2)NO TITLE (1)! Deutsche Banc Ale (3)! Deutsche Banc Ale (4)! Deutsche Banc Ale (5)! Deutsche Banc Ale (6)! Deutsche Banc Ale (7)! Deutsche Banc Ale (8)! Deutsche Banc Ale (9)! Deutsche Banc Al (10)! Deutsche Banc Al (11)! Deutsche Banc Al (12)!Material US Federal Income Tax Material US Federal Income (1)!DESCRIPTION OF PRINCIPAL TRANSA! Proposal of Matters Relati! Requisite GM Common Stockh! Requisite GM Common St (1)! Requisite GM Common St (2)! Requisite GM Common St (3)! Requisite GM Common St (4)! Covenants of GM Hughes and! Covenants of GM Hughes (1) Certain Other Covenants Certain Other Coven (1) Certain Other Coven (2)