THE HAGUE, the Netherlands, November 25, 2002 - New Skies Satellites N.V. (AEX, NYSE: NSK) will today begin implementing the share buyback program announced in the company’s third quarter results release on October 29, 2002. As previously announced, New Skies management plans to hold the repurchased shares as treasury stock.

Subject to prevailing market and trading conditions and, as and when appropriate, the renewal of authorizations from New Skies’ shareholders, New Skies expects to repurchase up to 10 percent of its issued share capital, or approximately 13 million shares.

Goldman Sachs International and ABN AMRO Rothschild will be advisors to New Skies on the share repurchase program, with Goldman Sachs acting as sole broker for the company. The program will be available to all New Skies shareholders, including those holding ordinary shares in registered or bearer form, as well as those holding American Depository Shares (ADSs).

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 five satellites in geosynchronous orbit and ground facilities around the world. Additionally, the company is scheduled to launch its NSS-6 pan-Asian satellite in mid-December and has another spacecraft under construction, which is being designed to serve the Americas from a new orbital location. 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 Johannesburg, London, New Delhi, São Paulo, Singapore, Sydney and Washington, D.C. Additional information is available at: www.newskies.com.

For more information, please contact:

Boris Djordjevic,
Investor Relations, New Skies Satellites +31 70 306 4183
bdjordjevic@newskies.com

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