THE HAGUE, Netherlands, April 29, 2003 – New Skies Satellites N.V. (AEX, NYSE: NSK), the global satellite communications company, announced today that it has acquired through its previously announced share repurchase program a total of 12,042,407 ordinary shares, or 92 percent of the total authorized buy back program, at an average price of $4.01. The shares are currently held as treasury stock. New Skies will seek authorization at its upcoming Annual General Meeting of Shareholders to cancel the treasury shares.

As part of the share repurchase program, New Skies bought back shares from many of its pre initial public offering shareholders, including the stakes of Deutsche Telekom, KDDI Corporation, SingTel Optus, Singapore Telecom and Teleglobe, representing approximately 96 percent of the total share buy back program. New Skies intends to buy back the remaining shares authorized under the share purchase program following the announcement of the first quarter 2003 results on May 7, 2003.

Dan Goldberg, chief executive officer of New Skies, said: ”I am very pleased with the progress we have made to date under the share repurchase program, an initiative that underscores our confidence in the strength of our business, our optimism regarding our prospects going forward, and our unwavering commitment to promote shareholder value. Because we believe that the company’s share price does not reflect its fair value, the buy back, in our view, serves shareholders by accreting value to those who do not elect to sell and, at the same time provides an exit path to those who do.“

Goldman Sachs International and ABN AMRO Rothschild are acting as advisors to the company, and Goldman Sachs International is acting as agent for the company, for the share repurchase program.

About New Skies Satellites (AEX, NYSE: NSK)
New Skies Satellites is one of only four fixed satellite communications companies with truly global satellite coverage, offering video, voice, data and Internet communications services to a range of telecommunications carriers, broadcasters, large corporations and Internet service providers around the world. New Skies has six satellites in orbit, ground facilities around the world and one additional spacecraft under construction. The company also has secured certain rights to make use of additional orbital positions for future growth. New Skies is headquartered in The Hague, The Netherlands, and has offices in Beijing, Johannesburg, New Delhi, São Paulo, Singapore, Sydney and Washington, D.C. Additional information is available at www.newskies.com.