NewSat Limited Updates On The Passage To Launch Date For Australia's First Independent Next Generation Satellite Jabiru-1

3 February 2010

NewSat Limited, is pleased to provide an update on the passage to launch Australia's first Independent Next Generation Satellite program.

In January, NewSat met with the Presidents and CEOs of a number of the Worlds leading international space companies. The Company's plan to launch Jabiru-1, which will cover Australia, South East Asia, the Middle East and sectors of Africa, is well researched and eagerly anticipated.

This international acceptance and recognition provides further confidence in NewSat's initiative to launch Jabiru-1 in the final quarter of 2012, in advance of the anticipated National Broadband Network (NBN) satellite initiatives.
With options to a number of orbital satellite slots and over two years of developmental research including working with insurers to ensure sufficient underwriting, NewSat understands satellite and space better than any other Australian owned organisation and will unveil its complete strategy, its partners and its funding plan before June 30th 2010.

Negotiations are continuing with respect to;

- Which orbital slot will be used
- Who will launch the satellite
- Who will build the satellite
- Who will insure the satellite
- Who will be the principal technical consultants
- Who will be the bankers and financial advisors
- Who will be the equity partners
- Who will provide export finance
- Who will oversee legals
- What the final cost will be.

NewSat will undertake the TT & C for Jabiru-1 and will also be the sales and marketing arm for the satellite, which will be important to provide for its future.

Jabiru-1 plans to have a minimum of fifty percent of transponders pre-sold by June 30th 2010.

Once realised, Jabiru-1 will be the first independent next generation satellite for Australia, it will leverage NewSat's global coverage of 75 percent of the world and further cement the Company's position as Australia's largest independently operated Satellite Communications Company.