Press Releases

Melbourne, Aug 18, 2009 (ABN Newswire) - NewSat Limited (ASX:NWT)(PINK:NWTLY) this month celebrated 10 years as a listed company and today announced several significant initiatives as the Company moves to its next phase of development.

New Chairman of the Board

With the maturing of the Company and the known challenges ahead, the Board has determined to expand and refresh its membership.

Current Chairman Mr. John Walker will stand aside at the next Board meeting after 8 years and make way for prominent Melbourne businessman Mr. Richard Green. Mr Walker will continue as a Director.

A search is well advanced for 2-3 additional Directors who will add new skills and connections to the Board.

Current long serving Director Mr. Chuck Ellison has indicated that he will not seek re election when his term expires in 2010.

Mr. Walker commented "NewSat is extremely fortunate to have someone of Richard's calibre join the Board and succeed me as Chairman. His depth of experience with growth companies, particularly with respect to financing will be a significant asset for NewSat. In addition, he brings a network of contacts that will be of great value as the Company evolves."

Mr. Green said "I am delighted to join NewSat as it begins its second decade as a public company and a new phase of its development".

Lazard appointed

NewSat has been evaluating ways to grow shareholder value and is pleased to announce the appointment of Lazard as its strategic advisor. Lazard is a leading global corporate advisory firm who will assist the Company with ongoing strategic advice, including in relation to the Jabiru satellite project, corporate strategy, capital structure, financing and merger & acquisition opportunities.

CEO succession planning

After 10 years of successfully founding, launching and leading NewSat, the company's Chief Executive Adrian Ballintine has confirmed his decision to retire as CEO before June 30th 2010. The Board has sufficient time to manage the succession planning and is confident of appointing the right person with international satellite experience to lead the company into the next decade. At the Board's request Adrian has agreed to remain available to the company and will remain a Non Executive Director and strategic consultant following his retirement as CEO.

The agreed transition period will preserve the excellent staff culture Adrian has fostered and enable NewSat to continue its strategy of becoming a leading global satellite services company.

Trading update

NewSat continues to perform well, despite the global financial crisis. Midway through the first quarter of the new financial year, sales are ahead of budget with a strong pipeline of new customer deals. NewSat will continue to update the market on new business on a regular basis.

Contact

Adam Shapiro Company Secretary / Chief Financial Officer Melbourne Principal Office Tel: +61-3-9674-4644 Fax: +61-3-9674-4655