THE HAGUE, Netherlands, May 25, 2004 - New Skies Satellites N.V. (AEX, NYSE: NSK), the global satellite communications company, today announced that it is engaged in advanced negotiations with a leading private equity firm regarding a proposal from this firm to acquire the Company. New Skies has also received proposals from other third parties and is in concurrent discussions with certain of these parties.

All current discussions contemplate a sale of substantially all of New Skies' assets and liabilities for cash at values representing a premium to the Company’s current share price. Any such sale would be followed by a liquidation of the Company and the distribution of the cash to its shareholders. New Skies' business and operations would be continued by the purchaser, with the effect of the transaction being a change in ownership of the New Skies business enterprise.

Any agreement to sell New Skies' assets would be subject to the approval of New Skies' Management and Supervisory Boards. Consummation of a transaction, once agreed, would be subject to a number of other conditions including approval by New Skies' shareholders at an Extraordinary General Meeting and receipt of necessary regulatory approvals. In view of these conditions, New Skies anticipates that a transaction would be completed, and liquidating distributions paid to shareholders, no sooner than the end of 2004.

New Skies cautioned that there is no certainty regarding the final terms and conditions (including price) or timing of any such agreement, nor can any assurance be given that the current discussions will result in any agreement to sell the Company. New Skies expects to be able to make a further announcement regarding these matters in the near future.

Company contact:
Elizabeth Hess
Corporate Communications, New Skies Satellites +31 70 306 4133
ehess@newskies.com +31 6 2906 2492