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NewSat receives Malaysian satellite regulator's confirmation

30 December 2013

NewSat Limited advises that it has received a copy of the confirmation letter issued by the Malaysian Communications and Multimedia Commission (MCMC) to MEASAT Satellite Systems Sdn Bhd (MEASAT) with respect to the use of the orbital slot 91.5°E for the

Jabiru-1 satellite.
As part of the transaction with MEASAT, in which MEASAT agreed to purchase US$197 million of Jabiru-1 satellite capacity payable over the 15 year life of the satellite, NewSat agreed to locate the satellite in an orbital slot held by MEASAT at 91.5°E, providing coverage over both MEASAT's and NewSat's target markets. Use of this orbital slot for the satellite owned by NewSat required the confirmation of the MCMC.

The confirmation letter issued by the MCMC is the last of the conditions precedent requiring input from a party other than the lenders or NewSat.

This confirmation finalises the export credit process. NewSat will now submit documentation demonstrating it has satisfied the Export Credit Agencies' conditions precedent to allow drawdown on the facilities to complete the construction of its Jabiru-1 satellite for launch in 2015. As previously announced, part of the submission will include a limited number of waivers of other conditions which have been agreed with the lenders