SES SHAREHOLDERS APPROVE 1998 ACCOUNTS AND ELECT NEW BOARD OF DIRECTORS Dividend of LUF 91 (EUR 2.26) per A share to be paid on 30.4.99

The shareholders of Société Européenne des Satellites S.A. (SES), at their Annual General Meeting today, approved the Company's 1998 accounts and elected a new Board of Directors (see attachment).

SES' revenues for 1998 increased by 15% over the previous year to LUF 20,851 million (EUR 517 million). The Company's net income rose by 11% to LUF 7,106 million (EUR 176 million), with an increase of 14% in operating profit. Earnings per A share grew to LUF 190.8 (EUR 4.75) from LUF 172.0 (EUR 4.26) in 1997.

The shareholders of SES today approved the proposed dividend of LUF 91 (EUR 2.26) per A share. This dividend (up 11% versus the previous year), will be paid to A shareholders and holders of SES FDRs (Fiduciary Depositary Receipts) on April 30, 1999.

Listing on Frankfurt Stock Exchange initiated

The Company has initiated the necessary procedures for a listing of SES FDRs on the Frankfurt Stock Exchange. The aim is to increase the visibility of the SES stock and to attract new investors active on the largest stock exchange in "Euroland".

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About SES

SES is the owner and operator of ASTRA, Europe's leading satellite system with an audience of almost 75 million households in 22 European countries, as well as a major shareholder in ASIASAT (34.13% since January 15, 1999). ASIASAT is the prime Asian satellite operator providing broadcast and telecommunications services to 53 countries in the Asian/Pacific region. The combined footprints of ASTRA and ASIASAT cover three quarters of the world's population.

SES is listed on the Luxembourg Stock Exchange under the form of Fiduciary Depositary Receipts (symbol: SES) and quoted on SEAQ International in London and XETRA.

Attachment: List of the Members of the Board of Directors as designated by SES shareholders at their Annual General Meeting of April 15, 1999.

BOARD OF DIRECTORS AS OF APRIL 15, 1999

Mr. EmileBernardin*
Mr. Georges Bollig
Mr. Ernst Wilhelm Contzen
Mr. Paul-Henri Denuit
Mr. Roland de Kergorlay
Mr. Henri Germeaux
Mr. Richard Goblet d'Alviella
Mr. Raymond Kirsch
Mr. Thomas Kraushaar*
Dr. Joachim Kröske
Mr. Paul Meyers
Mr. Gaston Reinesch
Mr. Victor Rod
Mr. Philippe Sahut d'Izarn
Mr. Georges Schmit
Mr. Thomas Schneider*
Mr. Gaston Schwertzer
Mr. René Steichen
Mr. François Tesch
Mr. Gerd Tenzer
Mr. F. Otto Wendt

(*Employee representatives)