WASHINGTON, February 26, 2003 – New Skies Satellites N.V. (AEX, NYSE: NSK), and Intelsat Global Sales & Marketing, Ltd., two leading providers of global satellite communications services, today announced an arrangement to use their existing orbital and satellite resources at a single orbital location to expand their respective commercial service offerings to the Americas, Europe, Africa and the Middle East.

Under the terms of the agreement, New Skies will allow use of its C-band frequency rights at 340 º East, where the U.S.-licensed hybrid Intelsat 603 satellite is currently providing Ku-band services. In return, each company will separately market the satellite’s C-band capacity for the delivery of video, Internet and data services throughout the Atlantic Ocean region, sharing revenues from C-band operations.

Each company may also offer “cross-strapped” services, where customer transmissions may be uplinked to the satellite in the C-band and downlinked in the Ku-band, and vice versa.

In addition, the two companies are exploring opportunities for a similar arrangement using New Skies’ NSS-513 satellite, which was replaced in the Pacific Ocean region by NSS-5 in December 2002.

Dan Goldberg, New Skies’ CEO, said: “This agreement is a positive development for both New Skies and Intelsat. Although we compete vigorously with Intelsat around the world, satellite operators are increasingly entering into such agreements when it makes good business sense to do so. This agreement is consistent with that broader trend in our industry and is a reflection of our ability to make productive use of our expansion orbital locations without making additional capital expenditures or incurring significant incremental expenses.”

“We are pleased to have reached this agreement with New Skies,” stated Conny Kullman, CEO, Intelsat, Ltd. “We believe that this will allow us to maximize revenues, minimize costs and optimize orbital resources.”

The Intelsat 603 satellite began operations in July 1992 and employs 64 C-band and 24 Ku-band transponders (36 MHz equivalent). The satellite’s Global, Hemi and Zone C-band beams offer comprehensive coverage of the Americas, Europe, Africa and the Middle East. In its current inclined orbit, Intelsat 603 is expected to provide services until July 2008.



About Intelsat
Intelsat, Ltd. offers telephony, corporate network, video and Internet solutions around the globe via capacity on 26 geosynchronous satellites in prime orbital locations. Customers in approximately 200 countries rely on Intelsat satellites and ground resources for quality connections, global reach and reliability.

About New Skies Satellites
New Skies Satellites (AEX, NYSE: NSK) 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, including four serving the Americas. 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.

Contact:

Jeff Bothwell
+1 202 478 7100
+31 6 1131 0183
jbothwell@newskies.com
Elizabeth Hess
+31 70 306 4133
+31 6 2906 2492
ehess@newskies.com



Some of the statements in this news release constitute "forward-looking statements" that do not directly or exclusively relate to historical facts. These forward-looking statements reflect our intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside our control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Because actual results could differ materially from our intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this news release with caution. New Skies Satellites does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

# # #