New Skies Satellites in $1.16 Billion Merger with SES Global

December 14, 2005

Cleary Gottlieb is representing Goldman, Sachs & Co., as financial advisor to New Skies Satellites in its pending all-cash merger with SES Global. The enterprise value of the transaction is $1.16 billion. The transaction is conditional upon New Skies shareholder approval, customary closing conditions, and clearances from relevant regulatory agencies, including the U.S. Federal Communications Commission. It is anticipated that the transaction will close in approximately six months. Shareholders owning approximately 55% of New Skies’ shares have agreed to vote in favor of the transaction.

New Skies, a Bermudan company with its main operating subsidiary headquartered in The Hague, is the world’s fifth largest satellite operator based on transponder capacity, with five spacecraft positioned at strategic orbital locations around the globe and an additional satellite due for launch in 2006.

SES GLOBAL owns market-leading satellite operators in Europe and the United States and holds strategic participations in satellite operators in Asia and Latin America. SES also provides network solutions and bandwidth to the U.S. government and its contractors.