Completion of Exchange Offer and commencement of trading of SES GLOBAL FDRs

In accordance with the mandate given to the Fiduciary, Banque et Caisse d'Epargne de l'Etat, and the acceptance of the amendment agreement by the meeting of Fiduciary Depositary Receipt ("FDR") holders held in Luxembourg on 26th September 2001, the Fiduciary has contributed today, 9th November 2001 ("the Effective Date") those SES A shares, which it held as Fiduciary, to SES GLOBAL in exchange for the issue by SES GLOBAL of SES GLOBAL A shares. Each FDR has now been split into 10 (ten) FDRs.

Therefore, as from today, 9th November 2001, the FDRs will be trading as SES GLOBAL FDRs. FDR holders now have 10 SES GLOBAL FDRs for each SES FDR that they held, and the market price of each SES GLOBAL FDR will be adjusted accordingly.

Trading symbols:

Luxembourg Stock Exchange: SESG (from SES)

Frankfurt Stock Exchange: SDSL (unchanged)

The ISIN code and the WKN remain unchanged.