The Hague, The Netherlands, September 19, 2001 – New Skies Satellites N.V. (AEX, NYSE: NSK) announced today that the company has received the full payment it was due following the conclusion of an arbitration regarding New Skies’ cancellation of a satellite contract.

According to a unanimous decision by the three-person panel hearing the arbitration case, New Skies was entitled to a return of payments made amounting to $53,251,842.00. New Skies has carried the disputed amount on its balance sheet as a receivable since the fourth quarter of 1999. The arbitration case has been described in New Skies’ public financial disclosures.

The arbitration was conducted in Washington D.C. under the auspices of the International Chamber of Commerce Court of International Arbitration.

“The $53 million we have received as a result of the arbitration award adds to the company’s already strong cash reserves,” said Andrew Browne, Chief Financial Officer of New Skies Satellites. “With cash in the bank of $231 million and no debt, we are well-placed to fund our long term growth plans.”

ABOUT NEW SKIES SATELLITES (AEX, NYSE: NSK)
New Skies is a global satellite communications company with five satellites in geosynchronous orbit, three new spacecraft under construction and ground facilities around the world. New Skies offers video, voice, data and Internet communications services to a range of telecommunications carriers, broadcasters, large corporations and Internet service providers around the world.

Additional information is available at http://www.newskies.com, or please contact:
Elizabeth Hess, New Skies Satellites
Tel: +31 70 306 4133, Mobile: +31 6 2906 2492
ehess@newskies.com