Not for distribution or release in the United States Media Release 18 June 2012

US$280 MILLION EX-IM BANK FUNDING A SIGNIFICANT FINANCIAL MILESTONE FOR THE JABIRU-1 PROJECT
The Export-Import-Bank of the United States (Ex-Im Bank) Board has considered and approved a referral to Congress of NewSat's application for a ~US$280 million direct loan The referral to Congress is an indication the transaction complies with Ex-Im Bank's lending requirements COFACE approval for US$95-100 million debt facility guarantee expected in July Financial close of funding anticipated late July Lockheed Martin confirms Jabiru-1 satellite construction is on track
NewSat Limited (ASX: NWT), Australias satellite company, is pleased to announce that the Board of the US based export credit agency, Ex-Im Bank, has voted and approved the referral to Congress of NewSats application for a ~US$280 million direct loan. The Boards vote of approval to refer NewSats application to Congress is an indication that the transaction complies with Ex-Im Banks lending requirements, and follows over six months of due diligence by Ex-Im Bank and its advisors. Following a 35 day Congressional notification and comment period, NewSats application is eligible for a final vote on approval. An application is currently under consideration by COFACE and NewSat expects to be able to provide an update to the market in July. Lazard is acting as financial advisor to the Company on the transaction. Investment Bank, Morgan Stanley, will be the lead capital markets advisor. Steps to launch of Jabiru-1 satellite The Jabiru-1 satellite project has entered the advanced stages, with key milestones to date as follows: 1. 2. 3. 4. 5. 6. Acquired eight orbital slots Secured US$601 million in binding pre-launch customer contracts Executed satellite manufacturer contract with Lockheed Martin Lockheed Martin is six months into satellite build and has completed Preliminary Design Review Executed launch vehicle contract with Arianespace for launch in 2014 Ex-Im Bank Board approved the referral to Congress for a ~US$280 million direct loan for notification and comment

The final stages on the path to launch include: 7. 8. COFACE approval for US$95-100 million debt facility guarantee (expected July) Ex-Im Bank Board final vote on debt funding of ~US$280 million (following 35 day notification period) 9. Proposed equity capital raising of ~US$200 million 10. Complete satellite construction and launch

Lockheed Martin completes Jabiru-1 Preliminary Design Review The Lockheed Martin team constructing NewSats next generation Ka-band satellite has successfully completed the programs Preliminary Design Review (PDR), a major milestone in the program's development. During the five day PDR, representatives from Lockheed Martin Commercial Space Systems and NewSat thoroughly reviewed the spacecraft's design and advanced capabilities. The completion of the PDR milestone validates that the design meets NewSats critical requirements and advances the Jabiru-1 program into the Critical Design Review (CDR) phase. Jabiru-1s construction is on schedule for launch in 2014. Capital raising and EGM Significant pre-launch customer commitments of US$601 million in take-or-pay contracts has enabled NewSat to increase the size and capacity of the Jabiru-1 satellite. The total cost of the Jabiru-1 satellite project is expected to be ~US$600 million, which includes a larger allowance for construction, launch and other associated costs. The provision of the debt funding from Ex-Im Bank and COFACE is conditional on the Company raising ~US$200 million in equity. NewSat intends to raise the funds by placing NewSat ordinary shares with institutional and sophisticated investors. The proposed placement will not be underwritten. Due to the size of the placement (and the number of shares to be issued as a result), under the ASX Listing Rules NewSat must seek shareholder approval for the proposed share issue at a meeting of shareholders. A notice of meeting and explanatory memorandum will be published on the ASX and sent to shareholders separately. In commenting on the Ex-Im Bank referral to Congress, Adrian Ballintine, NewSat Founder and CEO said: We are now in the final stages of financing the Jabiru-1 project. To date, the demand for satellite capacity has exceeded our expectations, with pre-launch customer contracts now at US$601 million and a robust forward sales pipeline. This has given us the ability to build a bigger satellite with more capacity and greater coverage. The increased customer contracts signed and final satellite design are expected to result in an increase in the aggregate revenue stream from Jabiru-1 over 15 years from approximately US$2.5 billion to approximately US$3.0 billion1. The Ex-Im Bank has a clear understanding and appreciation of the satellite industry. The vote and the availability of Ex-Im Bank Commercial Interest Reference Rate (CIRR) (currently 1.76%) funding for Jabiru-1 validates the projects key strengths; recurring revenues and solid cash flow. NewSat is in a very exciting phase of growth and transformation, as we achieve yet another key milestone towards the launch of Jabiru-1. The completion of the Preliminary Design Review is a major milestone in the construction of the Jabiru-1 satellite. The NewSat technical team, led by CTO David Ball, has been at Lockheed Martin's US facilities completing the review. After a week with Lockheed Martin program engineers, we are pleased to confirm the Jabiru-1 satellite is on track for launch in 2014. In commenting on the successful completion of PDR, Joseph Rickers, Lockheed Martin Commercial Space Systems President said: "Throughout the week-long intensive design review, Lockheed Martin has demonstrated that the preliminary system design of Jabiru-1 is complete and the satellite is on track for an on-time delivery. The Preliminary Design Review milestone validates the Jabiru-1 program teams progress to plan as well as NewSat and Lockheed Martins excellent teamwork.

Based on approximately 65-70% average utilisation rate.

About NewSat: NewSat Limited (ASX: NWT) is Australias largest specialist satellite communications company, delivering Internet, voice, data and video communications via satellite. With its unique-to-Australia Teleport infrastructure, NewSat provides a full range of managed satellite communication services and has established a reputation as the partner of choice for governments, corporations and private enterprises. Today, NewSat has the ability to provide coverage to 75% of the globe; from Australia, Asia, the Middle East, Africa, across the Indian Ocean extending into Europe and across the Pacific Ocean, reaching into the West coast of the USA. NewSats world acclaimed Teleports in Perth (Western Australia) and Adelaide (South Australia) were Top 3 Finalists in the World Teleport Associations 2012 and 2010 Awards for Excellence and made the 2011 Top Operator Rankings. Both Teleports are accredited to supply services to the Australian Department of Defence (DRSS) and are recognised as highly secure Global Access Points, supporting certified classified networks to ensure the transmission of vital and sensitive information for government clients. NewSat will be expanding its satellite capabilities with the Jabiru Satellite Program, beginning with the launch and operation of Jabiru-1, Australias first independently owned commercial satellite. Jabiru-1, a large Kaband next generation satellite, will provide superior coverage over South East Asia, the Middle East and North Africa. Jabiru-2, also scheduled, will deliver enhanced coverage in and around Australia. NewSat has rights to eight premium orbital slots and its fleet of next generation geostationary satellites will lead Australias space quest. For more information, please visit www.newsat.com About Jabiru Satellite Program: Jabiru-1 is NewSat's first geostationary communications satellite and will provide high-powered satellite capacity to high value customers across government markets and enterprise segments such as resources and telecommunication service providers. NewSat already serves many of these customers from its world recognised Teleport facilities and the vertical integration of owning a satellite will increase NewSat's ability to secure large capacity contracts. NewSat has rights to eight premium orbital slots, which provide significant growth opportunity above and beyond Jabiru-1. About Ex-Im Bank: Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. About Lazard: Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 42 cities across 27 countries in North America, Europe, Asia, Australia, Central and South America. With origins dating back to 1848, the firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments, and individuals. For further information please contact: Rod North, Managing Director, Bourse Communications Pty Ltd T: (03) 9510 8309, M: 0408 670 706, E: rod@boursecommunications.com.au