The Hague, The Netherlands, November 8, 2005 - New Skies Satellites B.V., the global satellite communications company, today announced the completion of the sale of its Australian subsidiary, New Skies Networks PTY Limited, to Multiemedia Limited for US$10 million.

New Skies Networks Ltd., an operator of two teleports in Adelaide and Perth, Australia, will now be known as NewSat Networks Pty Ltd, and will operate as an Australian registered company.  The new owner, Multiemedia Limited, is a provider of next generation technology and communications services based in Australia. The sale was previously announced in August. The company will use the net proceeds of the sale transaction to repay a portion of the outstanding borrowings under its term loan facility.