SES CONFIRMS INTENTION TO LIST ON LUXEMBOURG STOCK EXCHANGE

Société Européenne des Satellites SA (SES), of Luxembourg, the operator of ASTRA, Europe's leading direct-to-home satellite system, today confirmed its intention to seek a listing on the Luxembourg Stock Exchange and a quotation on SEAQ International before mid-July. SES will not receive any proceeds from this transaction.

The planned listing will combine an offering to domestic retail and institutional investors in Luxembourg and an offering to international institutions, outside of Luxembourg (excluding the USA). Application for the listing on the Luxembourg Stock Exchange will be made for Fiduciary Depositary Receipts (FDRs), with each FDR to be issued in respect of one existing A share of SES.

Deutsche Bank, Dresdner Kleinwort Benson and Morgan Stanley Dean Witter have been appointed joint global coordinators for the offering and will be bookrunners for the international tranche.

Banque Générale du Luxembourg SA has been appointed bookrunner for the Luxembourg offering. The retail and institutional offering in Luxembourg will account for a significant portion of the issue.

Further details about the timing of the offering and the availability of a preliminary offering memorandum will be announced shortly.

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