SES Reports Strong First Half 2007 Results and Raises Full Year Guidance

SES (Paris:SESG) (LuxX:SESG):

FINANCIAL HIGHLIGHTS

-- Revenue increased 11% to EUR 789.1 million (2006: EUR 710.5
million)

-0-
*T
-- recurring, same scope revenue grew 6.8% to EUR 785 million
*T

-- EBITDA rose 10% to EUR 548.2 million (2006: EUR 499.5 million)

-0-
*T
-- recurring, same scope EBITDA grew 11.0% to EUR 558 million
*T

-- Industry-leading infrastructure EBITDA margin of 82.2%

-- Net operating cash flow increased 29% to EUR 703.4 million
(2006: EUR 544.2 million)

-- Operating profit grew 7% to EUR 298.8 million (2006: EUR 278.5
million)

-- Net profit was EUR 207.8 million (2006: EUR 215.6 million)

-0-
*T
-- 2007 net income impacted by one-off NSS-8 launch failure
charge of EUR 11.6 million after-tax

-- 2006 result includes gain of EUR 15.4 million on SES Re
S.A. disposal
*T

-- Weighted earnings per share increased by 8% to EUR 0.42 (2006:
EUR 0.39)

-- Group backlog (contracted future revenues) of EUR 6.2 billion
at 30 June, representing over four times the last twelve
months' infrastructure revenues

-- Group utilisation rate at 30 June 2007 was 75% (770 of 1,031
commercially available transponders)

-- Financial guidance for 2007 Revenue and EBITDA raised

-- Distribution policy enhanced

SES, the pre-eminent satellite operator worldwide, today reported
strong results for the period ending 30 June 2007, and raised its
guidance for the remainder of the year.

Revenue, EBITDA and operating profit all grew strongly in the
period. Net operating cash flow was EUR 703.4 million and thus
significantly ahead of prior year based on strong EBITDA and some
one-time items in the period. Earnings per share increased by 8% to
EUR 0.42.

"The first half of this year has been one of continued strong
financial performance and commercial success." said Romain Bausch,
President and CEO of SES. "We are increasing revenue across the group,
while efficiently managing costs, and delivering on our overriding
objective of increasing shareholder value. This strong operating and
financial performance in the period has enabled us to raise financial
guidance for 2007, despite the weakening of the U.S. dollar versus the
euro. We have enhanced our distribution policy, improving shareholder
returns, and enter the second half of the year in a very healthy
state"

Business Review

SES made solid progress in the first six months, with the second
quarter building on the successes of the first quarter.

The results for the period reflect the full six months'
contribution from SES NEW SKIES and ND SatCom, and the partial
contribution from assets which, as part of the split-off transaction
with GE, left the group on 30 March 2007.

The buyback and cancellation of 19.5% of the outstanding economic
shares in the framework of the GE transaction was completed in the
second quarter. This transaction has the impact of significantly
reducing shareholders' equity. The reduction in the number of shares
will deliver a permanent enhancement of Earnings Per Share in the
future.

Significant steps were taken to improve the terms of satellite as
well as launch vehicle procurements, with SES AMERICOM initiating a
fleet replacement plan with manufacturer Orbital Sciences, and SES
signing a multi-launch agreement with Arianespace and ILS. These
agreements will reduce the procurement costs of satellite programmes,
and reduce risks to future revenues by providing flexible, multiple
launch options for our satellites.

Operationally, all group companies made progress, with new
commercial agreements being complemented by the achievement of
synergies and cost savings across the group.

The contract backlog remains strong at EUR 6.2 billion, slightly
reduced from the 31 December 2006 figure of EUR 6.5 billion owing to
normal conversion to income, certain assets and their associated
backlog leaving the group, and the decline in the U.S. dollar exchange
rate. The backlog at 30 June 2007 represented over four times the last
twelve months' satellite infrastructure revenues.

At the end of June 2007, the number of commercially utilised
transponders across the group was 770, representing a utilisation rate
of 75%.

-0-
*T
Transponder
utilisation Utilised % Available
----------------------------------------------------
ASTRA segment 233 87% 266
AMERICOM segment 332 74% 447
NEW SKIES segment 205 64% 318
----------------------------------------------------
SES Group 770 75% 1,031
*T

SES ASTRA

SES ASTRA showed a very strong operational performance and
continued its growth across Europe with another significant increase
of its household reach and of the number of transmitted channels. The
reach of the ASTRA satellite system grew to over 109 million TV
households in 35 European and North African countries within the ASTRA
footprint, with more than 2,000 video, audio and interactive channels
now being delivered via the 13 ASTRA and the two SIRIUS satellites.
The number of High Definition (HD) channels broadcast by ASTRA
increased to 27, making the ASTRA satellite system the largest HD
platform in Europe.

SES ASTRA's utilisation rate at 30 June 2007 was 87%, or 233 of
266 commercially available transponders (as reported at 31 March 2007:
88%, or 232 of 263 commercially available transponders). Improved
power management performance on the SIRIUS 2 satellite enabled a
further three transponders to be returned to commercial availability.

A key driver of commercial growth and long-term development of SES
ASTRA was the major agreement with CANAL+ in France to transmit its
full pay-TV programming offer for the French market from 19.2 degrees
East as its single orbital position. SES ASTRA thereby consolidates
and secures its position in the important French market. The agreement
provides that CANAL+ takes several new ASTRA transponders in addition
to those already contracted. It also foresees a framework for the
long-term growth requirements of CANAL+. CANAL+ will also offer a new
Free DTT for the French market, TNTSAT, via satellite from 19.2
degrees East.

SES ASTRA also further strengthened its position in the UK market
with a contract to increase capacity for the broadcaster ITV. In July,
SES ASTRA signed two important contracts with the German public
broadcasters ARD and ZDF, each adding a full transponder for digital
transmission, with services commencing in the first quarter of 2008.

SES SIRIUS grew its business and market position primarily by a
new transponder agreement with Arqiva/Hallmark and by contracting
several new channels for direct-to-home (DTH) reception in the Baltic
countries, bringing the number of DTH channels now available through
SES SIRIUS in this market to more than 50. Furthermore, SES SIRIUS
contracted several new major Finnish channels for the Finnish DTH
platform Viasat.

The successful launch of the new ASTRA 1L satellite on 5 May from
Kourou in French Guiana and its activation for commercial use at the
orbital position 19.2 degrees East in early July have laid the ground
for a redeployment of the ASTRA satellite fleet. This redeployment
includes the move of ASTRA 2C from 19.2 degrees East to 28.2 degrees
East, scheduled for the third quarter of this year. With this
redeployment, SES ASTRA will be able to offer 16 additional
transponders on ASTRA 2C, of which at least 10 will be for DTH in the
UK and Ireland while the remaining transponders can provide other
services across Europe thus extending the capacity for the UK and
Irish markets. The second redeployment will be the move of ASTRA 1E
from 19.2 degrees East to 23.5 degrees East, permitting the further
development of 23.5 degrees East as the third prime orbital position
for DTH reception in Europe. Furthermore, SES ASTRA will be able to
add eight more transponders to the eight currently offered on ASTRA
2B's steerable beam, which is presently positioned over West Africa.

In the services sector, SES ASTRA continued the development of its
new digital platform, entavio, in Germany, and signed a major contract
with the German pay-TV operator Premiere to offer its programme also
on entavio-enabled receivers. The market launch of entavio is being
prepared for 1 September at the international consumer electronics
show IFA (Internationale Funkausstellung), in Berlin.

APS (ASTRA Platform Services) grew, with customers launching
twelve new digital TV channels including My Estate TV, StarSat, Tier
TV and Spirit-on-TV. Contract renewals were made with 13 channels,
among them HSE24 and Tele 5. The BLUCOM interactive service is in use
by twelve German TV and radio channels. New BLUCOM providers are,
amongst others, HSE24, uprom and arvato mobile. BLUCOM combines
television and mobile technology as a return path and can be received
via entavio receivers.

In March, SES ASTRA launched its innovative broadband satellite
service ASTRA2Connect with a first anchor customer, Filiago, in
Germany. Filiago markets the broadband internet access to
end-consumers. SES ASTRA is in discussions with telecommunication
operators and DSL providers in many different countries for the
introduction of the new interactive product into these markets.

ND SatCom experienced substantial revenue growth, primarily
delivered from the SATCOM BW Step 2 project for the German Armed
Forces. Other growth came from the provision of fixed and mobile
satellite solutions as well as SNG (Satellite News Gathering) systems
to the European broadcast scene. Furthermore, ND SatCom faced
increasing demand from the government, energy and enterprise sectors
for meshed VSAT networks and services. Three major satellite
communications product launches for the commercial, government and
defence markets pave the way for further growth.

SES ASTRA has an active satellite procurement programme to support
its future development. The SIRIUS 4 satellite is due for launch in
the fourth quarter of this year, delivering additional capacity for
Europe and also for Africa. ASTRA 1M, scheduled to be launched in the
first half of 2008, is a replacement satellite at the prime orbital
position of 19.2 degrees East, while ASTRA 3B will be launched in late
2009 and deliver additional capacity for European DTH at the
developing prime orbital position of 23.5 degrees East, as well as new
capacity for the Middle East region via its extended footprint.

SES AMERICOM

SES AMERICOM achieved solid first half financial results and
benefited from efficient cost management during this period.

Of the 447 transponders commercially available in the SES AMERICOM
satellite fleet, 332, or 74%, were contracted at 30 June 2007 (as
reported at 31 March 2007: 73%, or 327 of 447 commercially available
transponders).

Turner Broadcasting System, Inc. has signed a multi-year agreement
for two additional transponders aboard the AMC-3 and AMC-5 satellites
to deliver CNN news gathering and special events programming.

ION Media Networks has extended its distribution agreement with
SES AMERICOM. The programming distribution agreement extension is
scheduled to run through the life of the AMC-1 satellite, which was
launched in 1996. The hybrid C- and Ku-band spacecraft is located at
103 degrees West, where it is home to national television networks
broadcasting to thousands of cable head-ends that reach tens of
millions of homes throughout the country.

AMC-18, which was launched on 8 December 2006, became operational
on 1 February 2007 from its assigned orbital location of 105 degrees
West. The all C-band spacecraft can deliver and receive signals from
50 states, the Caribbean and Mexico and has been designated as the
third HD-PRIME(TM) satellite.

SES AMERICOM announced in May that it has ordered a replacement
satellite, AMC-5R, plus a ground spare, with an option to add up to
three more spacecraft under the terms of its contract with Orbital
Sciences Corporation. AMC-5R and the identical ground spare will be
hybrid satellites, carrying 24 C-band and 24 Ku-band transponders of
36 MHz each.

Other SES AMERICOM satellite launches remain as scheduled. The
launch of AMC-14, fully contracted by EchoStar, is scheduled for
December 2007. AMC-21 is due for launch in the second quarter of 2008
and will offer television and enterprise distribution services across
all 50 United States, the Gulf of Mexico, the Caribbean, and Central
America from the orbital position of 125 degrees West. Finally, Ciel-2
is scheduled for launch in late 2008 by our partner Ciel Satellite LP.
This all-BSS Ku-band satellite is also fully contracted by EchoStar
and will operate from 129 degrees West.

As part of the restructuring of US teleports, the Holmdel teleport
operations located in New Jersey were sold to Maritime
Telecommunications Networks, Inc., on 1 June 2007, supporting
SES AMERICOM's achievement of targeted cost savings.

SES AMERICOM announced in June 2007 commercial availability of its
Internet Protocol television (IPTV) solution, IP-PRIME(R) after
extensive and successful technical trials with large, medium and small
sized telcos across the United States. IP-PRIME(R) comes with existing
transport agreements for over 275 television channels and over 100
digital music channels. This programme line-up includes over 20 HDTV
channels, as well as pay-per-view programming and the ability to offer
video-on-demand services. IP-PRIME(R) content originates from the
IP-PRIME(R) IPTV Broadcast Center based in Vernon Valley, New Jersey,
where video and audio programming is received, prepared, and securely
delivered via AMC-9 to authorised users.

SES NEW SKIES

SES NEW SKIES achieved strong first half performance in all
business metrics, posting excellent revenue and EBITDA growth. First
half performance benefited from strong ongoing demand for enterprise
and government services, in particular in Africa, the Middle East and
Central Asia, aided by the transfer of other group assets, which
supported the capture of additional growth opportunities.

Following the NSS-8 launch failure in January, SES NEW SKIES
continued to market its available capacity in the Indian Ocean Region
and to increase its market presence while concluding the procurement
of a replacement satellite, NSS-12, planned for deployment in
mid-2009.

Of the 318 (425 x 36 MHz equivalents) transponders commercially
available in the SES NEW SKIES satellite fleet, 205 (280 x 36 MHz
equivalents), or 64% were contracted at 30 June 2007 (as reported at
31 March 2007: 63.5%, or 202 of 318 commercially available
transponders).

The first half was marked by several key contract signings
including a two-transponder, multi-year contract to provide internet
trunking to French Polynesia; a single transponder, five year contract
to Telikom PNG of Papua New Guinea for GSM backhaul services; and a
contract to broadcast two new free-to-air DTH channels with STV of
Cameroon in West Africa. SES NEW SKIES also concluded significant new
contracts with Star One / Embratel for additional capacity on NSS-7
and NSS-806 and with Impsat on NSS-10 to support their fast growing
VSAT Networks in Latin America. In addition, SES NEW SKIES continued
to expand its services to the United States government and other key
government customers through several important renewals and new
contracts in the Atlantic, European and Middle Eastern markets.

The rapid procurement of a replacement satellite, NSS-12,
following the launch failure of NSS-8, demonstrates our commitment to
respond promptly to the evolving market needs of our customer base.
During the second quarter SES NEW SKIES announced that Space
Systems/Loral will construct this C/Ku hybrid satellite, carrying 40 x
36 MHz equivalent C-Band and 48 x 36 MHz equivalent Ku-band
transponders, to serve as the replacement for NSS-8.

The NSS-12 satellite is designed to provide SES NEW SKIES and its
customer base with additional high-power capacity and enhanced
coverage of Africa, the Middle East and India from the 57 degrees East
orbital position. The NSS-9 satellite, under construction by Orbital
Sciences, is scheduled to launch into the orbital position of 183
degrees East in early 2009.

Outlook and Modelling guidance

The outlook for the group remains favourable and, notwithstanding
the significant decline in the U.S. dollar / euro exchange rate, the
strong first half performance has enabled us to raise the revenue and
EBITDA guidance for 2007 (see Appendix). Moreover, achievements such
as the multiple spacecraft procurement agreement and the
multi-launcher agreement help to improve our future capital
requirements and reduce the risks associated with satellite launch
programmes. These represent important commercial advantages for SES.

In the short term, SES foresees strong growth in EBITDA driven by
revenue growth, synergies and costs management. Infrastructure EBITDA
margin is expected to remain above 80%, supported by strong market
demand and high transponder fill rates, while operating profit should
develop in the same trend as EBITDA. Earnings per share growth is
driven by operational growth and the reduced number of shares in issue
following the share buybacks in 2007.

Distribution policy

In the light of the positive financial development and favourable
outlook for the group, coupled with its strong cash flows, SES
management has reviewed the group's financial strategy, including the
targeted leverage and the distribution policy, concluding that there
is considerable scope to increase returns to shareholders while
maintaining SES's investment grade credit rating status.

Accordingly, the Board has endorsed management's recommendation
that the group achieves and maintains a target leverage of 3.5x Net
debt / EBITDA. This targeted leverage will be secured through a
continued focus on investment for growth. The Board intends to propose
a EUR 0.60 per share dividend to be paid in April 2008 (2007: EUR
0.44) increasing thereafter by at least 10% per annum. Any residual
cash will be applied to share buybacks.

In the longer term, SES is expected to continue its growth path
and to maintain its focus on cost reductions and synergies that can be
achieved within the group, thus improving the delivery of shareholder
value.

-0-
*T
SES, SOCIETE ANONYME
FINANCIAL REVIEW
For the six months ended June 30, 2007 (in euro millions)
*T

KEY FINANCIAL HIGHLIGHTS

(Graphs omitted, please see www.ses.com)

-0-
*T
development 2007 Q1 Q2 Q3 Q4 YTD
Quarterly
---------
Revenue 399.5 389.6 789.1
Operating expenses (124.3) (116.6) (240.9)
-----------------------------------------
EBITDA 275.2 273.0 548.2

Depreciation (127.5) (102.4) (229.9)
Amortisation (9.8) (9.7) (19.5)
-----------------------------------------
Operating profit 137.9 160.9 298.8
-----------------------------------------
*T

Revenue

-0-
*T
Six months to Six months to
June 30, 2007 June 30, 2006 Variance %
Revenue 789.1 710.5 + 78.6 + 11.1%
*T

The growth in revenues of EUR 78.6 million is attributable to both
the impact of changes in the Group's scope of operations and a
proforma increase in 6.8% in the revenues as compared to the same
period of 2006.

The changes to the consolidation scope affecting the revenues of
the periods under review were:

1. 30 March 2006 - Acquisition of 100% shareholding in New Skies
Satellites;

2. 30 June 2006 - Acquisition of remaining 75% shareholding (and
consolidation of) ND SatCom; and

3. 30 March 2007 - Sale of AsiaSat, SATLYNX and the AMC-23
business as part of the GE split-off transaction

The components of the increase in revenues compared to the first
half of 2006 are illustrated below.

(Graph omitted, please see www.ses.com)

The organic growth of EUR 50 million primarily reflects higher
transponder revenues at ASTRA, additional ND SatCom sales delivered
from the SATCOM BW project, and the beneficial impact of increasing
transponder utilisation on the SES NEW SKIES fleet.

Operating expenses and EBITDA

-0-
*T
Six months to Six months to
June 30, 2007 June 30, 2006 Variance %
Operating expenses (240.9) (211.0) -29.9 -14.2%
-------------------------------------------------
EBITDA 548.2 499.5 + 48.7 +9.7%
*T

Higher operating expenses reflect the change in the consolidation
scope outlined above. At 69.5% the EBITDA margin was not significantly
changed from the prior period level of 70.3%.

Both the infrastructure and services business contributed
positively to the EBITDA in the period - the operating performance of
the two primary business segments can be analysed as follows:

-0-
*T
Elimination /
Infrastructure Services Unallocated Total
Revenue 681.6 149.1 (41.6) 789.1
Operating expense (121.6) (144.9) 25.6 (240.9)
EBITDA 560.0 4.2 (16.0) 548.2
EBITDA margin % 82.2% 2.8% 69.5%
*T

Building on the strong first quarter, the SES infrastructure
margins continued their favourable development, achieving a margin of
over 82% for the first half of the year, an increase of 3% points
versus 2006. This improvement is derived from an increased market
demand and higher fill rates over a relatively flat cost base, and
supported by certain favourable one-off items.

SES services continued to grow their contribution to Group revenue
reaching 18.7% at the half year, up 3.8% points verses 2006. While
services delivered a positive EBITDA contribution their reported
performance was reduced by the investment in start-up intiatives and
new projects. Excluding revenue of EUR 0.8 million and expenses of EUR
14.4 million relating to these projects services achieved a margin of
12.0%.

Operating profit

-0-
*T
Six months to Six months to
June 30, 2007 June 30, 2006 Variance %
Depreciation (229.9) (205.3) -24.6 -12.0%
Amortisation (19.5) (15.7) -3.8 -24.2%
-------------------------------------------------
Operating profit 298.8 278.5 +20.3 +7.3%
*T

The rise in the Group's depreciation charge was mainly driven by
three factors:

1. The full six-month impact of depreciation on the SES NEW SKIES
acquired fleet of five satellites;

2. The impact of satellites entering or leaving service in 2006
and 2007: AMC-23 (February 2006 - sold to GE on March 30 2007); ASTRA
1KR (June 2006) and AMC-18 (January 2007). ASTRA 1L, launched on May 4
2007, entered the depreciation cycle on July 8, after the period end.
No satellites ceased being depreciated during this period; and

3. The launch failure of NSS-8 in January 2007 which resulted in
an accelerated write-down of project costs totalling EUR 15.9 million
in Q1.

Net financing charges

-0-
*T
Six months to Six months to
June 30, 2007 June 30, 2006 Variance %
Net interest expense (78.1) (56.0) - 22.1 - 39.5%
Capitalised interest 12.4 8.8 + 3.6 + 40.9%
Net foreign exchange
gains 16.4 18.3 - 1.9 - 10.4%
------------------------------------------------
Subtotal (49.3) (28.9) - 20.4 - 70.6%

Gain on changes in
shareholdings -- 15.4 - 15.4 - 100.0%
------------------------------------------------
Net financing
charges (49.3) (13.5) - 35.8 - 265.2%
------------------------------------------------
*T

The increase in net financing charges of EUR 35.8 million is
driven by the EUR 22.1 million higher net interest expense and the
one-off gain of EUR 15.4 million taken in Q1 2006 on the disposal of
the Group's interest in SES Re S.A., a subsidiary involved in
re-insurance activities.

The rise in net interest charges reflects both a higher average
net debt level and an increase in the effective interest rate paid by
the Group on its borrowings reflecting market developments.

Income tax expense

-0-
*T
Six months to Six months to
June 30, 2007 June 30, 2006 Variance %
Income tax expense (44.1) (47.3) + 3.2 + 6.8%
*T

The tax charge for the period fell by EUR 3.2 million to EUR 44.1
million reflecting the EUR 15.5 million lower profit before tax. The
effective tax rate for the first half of 2007 was 17.7%, compared to
17.9% in the corresponding period in 2006.

Net profit

-0-
*T
Six months to Six months to
June 30, 2007 June 30, 2006 Variance %
Net profit of the
Group 207.8 215.6 - 7.8 - 3.6%
*T

Net profit is lower than the corresponding period in 2006 despite
the higher operating profits generated. This reflects mainly the EUR
15.4 million of the SES Re transaction noted above. Excluding this
transaction 2006 first half net earnings were EUR 200.2 million.

Cash flow

-0-
*T
Six months to Six months to
June 30, 2007 June 30, 2006 Variance %
Net operating
cash flow 703.4 544.2 + 159.2 + 29.2%
Free cash flow 376.7 (242.3) + 619.0 --
*T

Net operating cash flow in the first half of 2007 was
significantly higher than the corresponding period of 2006, mainly due
to strong customer cash inflows and the settlement of certain
insurance receivables.

Free cash flow, which was negative in the first half of 2006 due
to the acquisition of New Skies Satellites and ND SatCom was strongly
positive again in the first half of 2007. Since the transaction with
GE was for the acquisition of Treasury shares, this has little impact
on operating or free cash flow of the period, rather being dealt with
as part of financing activities.

Net debt

-0-
*T
June 30, December
2007 31, 2006 Variance %
Cash (excluding cash
equivalents) (279.4) (393.4) + 114.0 + 29.0%
Loans and borrowings 3,666.2 3,296.6 + 369.6 + 11.2%
-----------------------------------------
Net debt 3,386.8 2,903.2 +483.6 + 16.7%

Net debt / EBITDA 3.00 2.68 +0.32 +11.9%
*T

Net debt rose in the period due mainly to the payment of EUR 653.8
million made to GE in the framework of the split-off transaction. This
explains the increase in Net debt/EBITDA compared to the year ended
December 31, 2006.

Contract backlog

-0-
*T
June 30, December
2007 31, 2006 Variance %
Fully protected contract
backlog 6,248.0 6,497.3 - 249.3 - 3.8 %
*T

Half of the reduction in contract backlog in the period can be
directly attributed to the disposal of the Group's interest in SATLYNX
and AsiaSat in March 2007. The balance is a combination of the effect
of the weakening US dollar on SES AMERICOM and SES NEW SKIES backlog
and normal fluctuations due to the timing of the renegotiation of
contracts with long-term customers.

-0-
*T
SES, SOCIETE ANONYME
INTERIM CONDENSED CONSOLIDATED INCOME STATEMENT
for the six months ended June 30, 2007 (in euro millions)

12 months to
Six months to Six months to December 31,
June 30, 2007 (1) June 30, 2006 (1) 2006 (2)

Revenue (3) 789.1 710.5 1,615.2

Operating expenses
(4) (240.9) (211.0) (534.8)

Depreciation (4) (229.9) (205.3) (438.6)
Amortisation (4) (19.5) (15.7) (36.5)
------------------------------------------------
Operating profit 298.8 278.5 605.3

Finance revenues (4) 28.0 40.4 92.0
Finance costs (4) (77.3) (53.9) (172.8)
------------------------------------------------
Profit for the period
before tax (5) 249.5 265.0 524.5

Income tax expense
(6) (44.1) (47.3) (99.4)
------------------------------------------------
Profit for the period
after tax (7) 205.4 217.7 425.1

Share of associates'
result 2.4 (2.1) 10.5
------------------------------------------------
Profit for the period 207.8 215.6 435.6
------------------------------------------------

Attributable to:
Equity holders of
parent 207.5 215.8 435.8
Minority interest 0.3 (0.2) (0.2)
------------------------------------------------
Net profit of the
Group 207.8 215.6 435.6
------------------------------------------------

Weighted basic and diluted earnings per share

A - shares (Euro) 0.42 0.39 0.82
B - shares (Euro) 0.17 0.16 0.33
C - shares (Euro) 0.42 0.39 0.82
*T

1. Has been subject to a review by the company's auditors in
accordance with ISRE 2410

2. Extracted from the 2006 Annual Report of SES S.A.

3. Revenues include continuing operations amounting to 771.3,
679.8, and 1,555.2 - and discontinued operations amounts of
17.8, 30.7 and 60.0 - for the periods ended June 2007, June
2006 and December 2006 respectively;

4. Operating expenses, depreciation, amortisation and net
financing charges include continuing operations amounting to
523.0, 423.6, 1,046.7 - and discontinued operations of 16.6,
21.9 and 44.0 - for the periods ended June 2007, June 2006 and
December 2006 respectively;

5. Pre-tax profit includes continuing operations amounting to
248.3, 256.2, 508.5 - and discontinued operations of 1.2, 8.8
and 16.0 - for the periods June 2007, June 2006 and December
2006 respectively;

6. Income tax expense includes continuing operations amounting to
43.6, 46.3 and 96.4 - and discontinued operations of 0.5, 1.0
and 3.0 - for the periods June 2007, June 2006 and December
2006 respectively;

7. Profit for the period after tax includes continuing operations
amounting to 204.7, 209.9 and 412.1 - and discontinued
operations of 0.7, 7.8 and 13.0 for the periods June 2007,
June 2006 and December 2006 respectively.

-0-
*T
SES, SOCIETE ANONYME
INTERIM CONDENSED CONSOLIDATED BALANCE SHEET
for the six months ended June 30, 2007 (in euro millions)

December
June 30, June 30, 31, 2006
2007 (1) 2006 (1) (2)
Non-current assets
Property, plant and equipment 2,638.1 3,335.9 3,067.7
Assets in the course of construction 802.4 494.7 695.0
------------------------------
Total property, plant and equipment 3,440.5 3,830.6 3,762.7

Intangible assets 2,978.2 3,511.9 3,382.6
Financial and other non-current assets 51.3 169.8 145.9
------------------------------
Total non-current assets 6,470.0 7,512.3 7,291.2

Current assets
Inventories 26.0 21.4 23.3
Trade and other receivables 260.5 233.8 288.5
Prepayments 37.4 46.2 42.3
Valuation of financial instruments 31.4 12.8 2.6
Short-term investments 17.2 0.7 24.8
Cash and short-term deposits 279.4 275.2 393.4
------------------------------
Total current assets 651.9 590.1 774.9

------------------------------
Total assets 7,121.9 8,102.4 8,066.1
------------------------------

Equity
Attributable to equity holders of the
parent 1,595.9 3,001.7 3,012.2
Minority interest 31.5 33.4 32.9
------------------------------
Total equity 1,627.4 3,035.1 3,045.1

Non-current liabilities
Interest-bearing loans and borrowings 3,168.8 2,766.8 2,947.3
Provisions and deferred income 284.2 85.6 210.4
Deferred tax liabilities 793.6 807.6 806.0
------------------------------
Total non-current liabilities 4,246.6 3,660.0 3,963.7

Current liabilities
Interest-bearing loans and borrowings 497.4 579.5 349.3
Trade and other payables 288.9 287.5 310.1
Valuation of financial instruments 24.1 21.4 22.1
Income tax payable 160.9 166.4 144.1
Deferred income 276.6 352.5 231.7
------------------------------
Total current liabilities 1,247.9 1,407.3 1,057.3

------------------------------
Total liabilities 5,494.5 5,067.3 5,021.0

------------------------------
Total equity and liabilities 7,121.9 8,102.4 8,066.1
------------------------------
*T

(1) Has been subject to a review by the company's auditors in
accordance with ISRE 2410

(2) Extracted from the 2006 Annual Report of SES S.A.

-0-
*T
SES, SOCIETE ANONYME
INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW
for the six months ended June 30, 2007 (in euro millions)

Six months to Six months to
June 30, 2007 June 30, 2006

Consolidated net income before taxes 249.5 265.0

Adjustment for non-cash items 239.5 165.0
---------------------------
Consolidated operating profit before
working capital changes 489.0 430.0

Changes in operating assets and
liabilities 214.4 114.2
---------------------------
Net operating cash flow 703.4 544.2

Cash flow from investing activities
Purchase of intangible assets (9.5) --
Purchase of property, plant and equipment (271.8) (196.0)
Acquisition of subsidiary, net of cash
acquired -- (621.2)
Disposal of subsidiaries sold in GE
transaction, net of cash (69.6) --
Realised proceeds on the settlement of
swaps 40.3 33.2
Other flows from investing activities (16.1) (2.5)
---------------------------
Total cash flows from investing activities (326.7) (786.5)

Cash flow from financing activities
Movements on borrowings 394.7 736.7
Dividends paid to equity holders of the
parent (185.6) (215.2)
Treasury shares acquired & cancelled in GE
transaction (653.8) --
Net proceeds of other Treasury shares
(acquired) / sold 1.6 (154.3)
Other cash flows from financing activities (11.7) 35.4
---------------------------
Total cash flows from financing activities (454.8) 402.6

Net foreign exchange movements (35.9) (81.9)

(Decrease) / Increase in cash (114.0) 78.4
---------------------------

Net cash at beginning of the period 393.4 196.8
---------------------------
Net cash at end of the period 279.4 275.2
---------------------------
*T

-0-
*T

SES, SOCIETE ANONYME
SEGMENTAL ANALYSIS OF RESULT FROM OPERATIONS
for the six months ended June 30, 2007
(in euro millions)
*T

For the year ended December 2006, the Group's operations were
reported for the following five separately organised and managed
areas:

1. 'Europe, Middle East and Africa';

2. 'Americas';

3. SES NEW SKIES;

4. 'Asia'; and

5. 'SES GLOBAL & other participations'

Following the acquisition of SES NEW SKIES in 2006, management
responsibilities for certain operations were re-allocated which
resulted in a change in the definition of these primary segments.
These changes were mainly the following:

1. Responsibility for the management of the former "Asia"
operations, primarily the operations of SES ASIA S.A. and the
Group's interest in AsiaSat, was assigned to the SES NEW SKIES
management team; and

2. The responsibility for the commercial management of certain
satellite assets in the ASTRA and AMERICOM fleets, whose
footprints were outside Europe and North America respectively,
was also re-assigned to the management team of SES NEW SKIES.

Reflecting these changes, SES has amended its internal management
and reporting structure - reducing the previous five segments to four.
These are as follows beginning January 2007:

1. ASTRA;

2. AMERICOM;

3. NEW SKIES; and

4. SES S.A. & Other Participations

The Group accounts for inter-segment sales and transfers as if the
sales or transfers were to third parties at current market prices.
Prior period figures have been restated to reflect the changes above.

-0-
*T
SES &
For the six Other
months ended NEW Partici-
June 30, 2007 ASTRA AMERICOM SKIES pations Elimination Total

Total revenue 470.1 202.7 130.2 0.0 (13.9) 789.1
Operating
expenses (132.9) (71.3) (34.6) (16.0) 13.9 (240.9)
-----------------------------------------------------
EBITDA 337.2 131.4 95.6 (16.0) -- 548.2
Depreciation (92.7) (76.0) (61.0) (0.2) -- (229.9)
Amortisation (18.0) (1.5) -- -- -- (19.5)
-----------------------------------------------------
Operating profit 226.5 53.9 34.6 (16.2) -- 298.8
-----------------------------------------------------

SES &
For the six Other
months ended NEW Partici-
June 30, 2006 ASTRA AMERICOM SKIES pations Elimination Total

Total revenue 404.2 228.4 83.6 4.7 (10.4) 710.5
Operating
expenses (86.2) (97.0) (25.9) (12.3) 10.4 (211.0)
-----------------------------------------------------
EBITDA 318.0 131.4 57.7 (7.6) -- 499.5
Depreciation (88.4) (86.0) (30.7) (0.2) -- (205.3)
Amortisation (13.9) (1.6) -- (0.2) -- (15.7)
-----------------------------------------------------
Operating profit 215.7 43.8 27.0 (8.0) -- 278.5
-----------------------------------------------------
*T

-0-
*T
APPENDIX

Guidance Table
for Modelling Purposes

Revenue and EBIDTA guidance - 2007

2007 Revenue and EBIDTA guidance
EUR million 14 February 2007 06 August 2007
1 EUR = 1 EUR = 1.34 Guidance New ranges
1.30 USD USD Update(1) @ 1 EUR
= 1.34
USD

Total
-Revenues 1.7%
1568-1608 1548-1588 Increase 1580-1610
-EBITDA 2.1%
1041-1081 1028-1068 Increase 1060-1080
Infrastructure
-Revenues 1.5%
1332-1369 1316-1353 Increase 1340-1370
-EBITDA 2.3%
1058-1089 1045-1076 Increase 1075-1095
Services
-Revenues(2) 309-334 305-330 maintain 305-330
-EBITDA(2) 27-39 26-38 maintain 26-38

(1) Updated for overall business development and Entavio project;
"Increase" percentage refers to guidance mid-point
(2) Services revenue and EBITDA excludes Entavio; EBITDA also
normalised for pre-commercial costs of start-up activities

--Increased revenue and EBITDA targets
--Tighter ranges underline the solidity of the guidance
--Reflects impact of the improved revenue mix and realisation of
synergies, delivering an infrastructure EBITDA margin above 80%
--Services businesses outlook maintained
*T

Additional information is available on our website www.ses.com

-0-
*T
PRESS / ANALYST TELECONFERENCES

A press call will be hosted at 11.00 CET today, 6 August 2007.
Journalists are invited to call the following numbers five minutes
prior to this time.
Belgium +32 (0)2 789 8726
France +33 (0)1 70 99 42 95
Germany +49 (0)30 9919 4895
Luxembourg +352 342 080 8584
UK +44 (0)20 7806 1966

A call for investors and analysts will be hosted at 14.00 CET today,
6 August 2007. Participants are invited to call the following numbers
five minutes prior to this time.
Belgium +32 (0)2 400 3463
France +33 (0)1 70 99 42 78
Germany +49 (0)30 2215 1089
Luxembourg +352 342 080 8654
UK +44 (0)20 7138 0813
USA +1 718 354 1157

A presentation, which will be referred to in each call, will be
available for download from the Investor Relations section of our
website www.ses.com

A replay will be available for one week on our website: www.ses.com
*T

Disclaimer / Safe Harbor Statement

-- This document does not constitute or form part of, and should
not be construed as, any offer for sale of, or solicitation of
any offer to buy, any securities of SES nor should it or any
part of it form the basis of, or be relied on in connection
with, any contract or commitment whatsoever.

-- No representation or warranty, express or implied, is or will
be made by SES, or its advisors or any other person as to the
accuracy, completeness or fairness of the information or
opinions contained in this document, and any reliance you
place on them will be at your sole risk. Without prejudice to
the foregoing, none of SES or its advisors accepts any
liability whatsoever for any loss however arising, directly or
indirectly, from use of this document or its contents or
otherwise arising in connection therewith.

-- This document includes "forward-looking statements". All
statements other than statements of historical fact included
in this document, including, without limitation, those
regarding SES's financial position, business strategy, plans
and objectives of management for future operations (including
development plans and objectives relating to SES products and
services) are forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and
other important factors that could cause the actual results,
performance or achievements of SES to be materially different
from future results, performance or achievements expressed or
implied by such forward-looking statements. Such
forward-looking statements are based on numerous assumptions
regarding SES's present and future business strategies and the
environment in which SES will operate in the future and such
assumptions may or may not prove to be correct. These
forward-looking statements speak only as at the date of this
document. Forward-looking statements contained in this
document regarding past trends or activities should not be
taken as a representation that such trends or activities will
continue in the future. SES does not undertake any obligation
to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise.