NewSat Limited (ASX:NWT) Declares 400% Year on Year Growth to Shareholders

Melbourne, July 17, 2009 AEST (ABN Newswire) - As part of NewSat Limited's (ASX:NWT)(PINK:NWTLY) continuous disclosure obligations, directors wish to advise shareholders of the company's ongoing progress.

NewSat's growth over the past 12 months has been the strongest of any period in the history of the company.

In the year of international economic meltdown, NewSat grew new business in excess of 400% on the previous year. Total revenues also increased substantially. Its recurring revenue stream will ensure the 09/10 year is NewSat's best ever as the Board is confident that the company will continue the growth of the 2008/09 financial year.

"Last year the company successfully grew its annuity revenue stream, minimised contract churn and effectively contained all business costs. As a result NewSat is in a position to generate month on month growth in 09/10 and will deliver its maiden profit", said Chairman, John Walker.

NewSat's teleports are still regarded as amongst the most significant in the world and they continue to generate profitable business. These assets help set NewSat apart from other Australian based communications providers. They have been a target of international acquisition ambition in previous months, but the Board has determined shareholders interests are not well served via a sale of either one or both teleports.

NewSat's client base is essentially "blue-chip", and very much geared towards the oil, gas and mining and military sectors. Deployments in these sectors are typically confidential and publicity free.

The value of NewSat's assets continue to grow as satellite technology becomes more mainstream. It's no debt policy and growing cash balance has placed the company uniquely amongst its competitors. NewSat still supports the largest retail digital media satellite network in the country, and its Kimberley region initiative across 16 sites is both ground breaking and valuable for communities who have traditionally been disenfranchised by way of mainstream communications.

NewSat's satellite launch aspirations continue to develop, and this month executives of major space corporations meet in Melbourne to finalise construction and implementation details. NewSat will be in a position to offer a solution via NBN or in its own right. On the basis of its current project plan, directors are confident the initiative can be fully funded The company wants shareholders to know it is in serious negotiation for substantial satellite based business with organisations of world renown. The company is confident of early success in that regard. Notwithstanding, NewSat will ensure its primary focus is on increasing month on month revenues via contracts of longevity.

Shareholders have much to be excited about in going forward as the Boards strategy is working.

Contact

John Walker Chairman Melbourne, Principal Office Tel: +61-3-9674-4644 Fax: +61-3-9674-4655