SES Closes Split-off Transaction With GE

SES (Paris:SESG) (LuxX:SESG) announces that it has closed the
split-off transaction with GE signed on February 13th, 2007 (press
release) following satisfaction of the closing conditions. SES has
exchanged GE's entire holding of 103,149,900 shares in SES for 100% of
a split-off company, SES International Holdings, Inc. (SIH). The
reference price for each SES share was agreed as EUR 12, resulting in
a total transaction value of EUR 1.238 billion, together with an
additional cash amount of EUR 45 million, included as a result of
closing on this date. SIH holds cash and assets, including the
following:

-0-
*T
The AMC-23 satellite and its related business
100% of SATLYNX
49.5% of Bowenvale (representing a 34.1% interest in AsiaSat)
5.5% of Orbcomm
EUR 609.7 million cash
*T

The announced transfer of the shares in Star One (approximately
20% of the total equity of that company) to SIH will take effect once
the approval of the Brazilian regulator, Anatel, is obtained. This is
expected to occur shortly.

Pursuant to the resolution of shareholders of SES at an
Extraordinary General Meeting held on March 15th, 2007, SES will
cancel shares representing 19.5% of its share capital on April 5,
2007.

States Romain Bausch, President & CEO of SES: "With the completion
of this transaction SES achieves two important business objectives: to
restructure and optimise the company's portfolio of assets following
the acquisition of SES NEW SKIES and to remove the perceived share
overhang which did exist since GE had announced its intention to
divest from its interest in SES. The total non-cash assets transferred
to SIH represent approximately 8% of SES' total assets and the cash
contribution will not impede the refinancing capacity of SES nor the
future development of our business. The cancellation of the GE stake
in SES will create significant additional shareholder value while
taking the free float up to 70% and considerably simplifying the share
capital structure."

About SES

SES (Paris:SESG) (LuxX:SESG) wholly owns three market-leading
satellite operators, SES ASTRA in Europe, SES AMERICOM in North
America, and SES NEW SKIES, which provide global coverage and
connectivity. The Company also holds strategic participations in SES
Sirius in Europe, Ciel in Canada and Quetzsat in Mexico. SES provides
outstanding satellite communications solutions via a fleet of 36
satellites in 25 orbital positions around the globe. Additional
information on SES is available at: www.ses.com