NewSat acquires world class media port facilities and profitable business from new skies satellites

The purchase comes with very substantial back-log of contracted secure revenue over the next three years and will extend NewSat's reach into the oil, gas, mining, broadcasting and Government sectors. It will deliver immediate cash flow positive results for the company and its shareholders.

New Skies Networks achieved total revenues of A$22.9 million for the fiscal year ended 31 December 2004 and an after tax net profit of A$5.4 million.

The new entity, known as NewSat Networks Pty Ltd will provide services in the Middle East, Africa and Europe through it's Dubai based offices.

This announcements follows NewSats recent launch of the iDirect platform to compliment it's already successful ViaSat based business in the region.

Paul Seaton, General Manager - Middle East and Africa stated that NewSat will now be able to provide satellite coverage to 75% of the world's population, up from 60%, including Europe, the Middle East, Africa and Asia. It will make NewSat one of the largest and most modern media port operators and satellite service providers. The company will now be in a position to provide an unparalleled level of services.

Adrian Ballintine, Founder and CEO of Multiemedia, described the purchase as good news for the ICT industry and a significant investment that reflected the growing nature of the company.

"The services offered by New Skies Networks are in direct synergy with our existing businesses, in particular our satellite delivery arm NewSat which is already proven to be one of the most advanced and fastest growing satellite communications companies in the Middle East and Africa."

The acquisition will see Multiemedia take ownership of a substantial network of assets including two modern media port facilities. These media ports act as a gateway between the satellites and the earth to broadcast video, voice and data.

Politically, geographically and climatically Australia offers a safe environment to house media port facilities. "Satellite technology is the future of general communications, entertainment, education and health services particularly in regional and remote parts of the world where traditional cable copper fibre networks are not appropriate or available," Ballintine said.

NewSat and NewSat Networks will work alongside each other to service all segments of the satellite services market and provide customers with a high level of service.