As filed with the Securities and Exchange Commission on ~~August~~April 19, ~~2004~~ 2005

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act of 1934

New Skies Satellites N.V.

Rooseveltplantsoen 4
2517 KR The Hague
The Netherlands

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F

Form 20-F...X...

Form 40-F......

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934

Yes......

No...X....

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): .............................N/A...................................................................................

NOTICE ~~New~~OF ~~Skies~~THE ~~Reports~~FINAL ~~Second~~DISTRIBUTION ~~Quarter~~OF ~~2004~~THE ~~Results~~SALE PROCEEDS TO NEW SKIES’ SHAREHOLDERS February 23, 2005

THE HAGUE, Netherlands, ~~August~~February 1923, ~~2004~~2005 – New Skies Satellites N.V. in liquidation (~~AEX,~~“New ~~NYSE:~~Skies” ~~NSK),~~or the ~~global~~“company”) ~~satellite~~today ~~communications~~announced that the company,’s ~~today~~liquidator ~~reported~~has ~~financial~~resolved ~~results~~to ~~for~~make ~~the~~a ~~three-~~final ~~and~~liquidation ~~six-month~~distribution ~~periods~~to ~~ended~~New ~~June~~Skies’ 30shareholders of US$0.41 per ordinary share, ~~2004~~representing 5.15 ~~Revenues~~percent ~~for~~of the ~~quarter~~net ~~were~~proceeds ~~$83.3~~of ~~million,~~the ~~EBITDA~~sale ~~(A)~~and ~~was~~to ~~$56.5~~pay ~~million,~~in ~~and~~addition the net ~~income~~interest ~~was~~earned ~~$19~~on undistributed funds.5 ~~million,~~Notice oris ~~$0.16~~hereby ~~diluted~~given ~~earnings~~of ~~per~~the ~~share.~~final distribution.

~~The~~Holders ~~2004~~of ~~performance~~ordinary ~~includes~~shares ~~two~~traded ~~non-recurring~~at ~~events(B):~~Euronext Amsterdam and American Depository Shares (iADSs) traded on the ~~orbital~~New ~~slot~~York ~~coordination~~Stock ~~agreement~~Exchange ~~with~~are ~~Intelsat~~entitled ~~disclosed~~to ~~last~~a ~~quarter~~distribution ~~and~~on the ~~corresponding~~shares ~~receipt~~that ofare aregistered ~~one-time~~in ~~cash~~their ~~payment~~name ofon ~~$32.0~~February ~~million~~21, in2005, at the ~~second~~close ~~quarter~~of ~~2004~~business. ~~and~~Holders ~~(ii)~~of ~~costs~~ordinary ~~incurred~~shares ~~relating~~traded toon ~~the~~Euronext ~~purchase~~Amsterdam ofwill receive through the ~~Company~~affiliated byinstitutions ~~affiliates~~with ofEuroclear ~~The~~Nederland ~~Blackstone~~on ~~Group~~February 24, 2005 an amount per share of $0EUR0.73104, ~~million~~which ~~and~~will $2including interest be EUR0.83144. ~~million,~~Holders inof ADSs traded on the ~~first~~New ~~and~~York ~~second~~Stock ~~quarters~~Exchange will receive an amount per share of ~~2004~~US$0.41 on February 24, ~~respectively~~2005.

~~Commenting~~ onHolders ~~the~~of ~~results,~~registered shares that were registered as such in New Skies' ~~CEO~~share ~~Dan~~register ~~Goldberg~~on ~~said:~~February 21, 2005 are entitled to an amount per share of US$0.41. Distributions with respect to registered shares will be made directly by New Skies.

~~The~~De-listing ~~second~~ Trading ~~quarter~~in ~~represented~~the ~~yet~~company’s ~~another~~ordinary ~~solid~~shares ~~performance~~on ~~for~~Euronext ~~New~~Amsterdam ~~Skies, with revenues, EBITDA~~ and ~~free~~the ~~cash~~ADSs ~~flow~~on ~~coming~~the inNew atYork ~~significantly~~Stock ~~higher~~Exchange ~~levels,~~has ~~primarily~~been suspended as ~~a result~~ of ~~the~~November ~~recognition~~3, of2004. aThe ~~one-time~~effective ~~cash~~date ~~payment from Intelsat~~ of ~~$32~~de ~~million. If we exclude this one~~-~~time~~listing ~~payment,~~on ~~revenues~~Euronext ~~were~~Amsterdam ~~consistent~~will ~~with~~be ~~the~~February ~~previous~~24, ~~quarter~~2005, ~~but~~barring ~~down~~unforeseen ~~from the same period last year~~circumstances. ~~Although~~The welisting ~~secured~~at athe ~~number~~New ofYork ~~important~~Stock ~~commercial~~Exchange ~~opportunities~~has ~~for~~already abeen ~~range~~discontinued ofat ~~video,~~its ~~data,~~initiative IPimmediately ~~and~~following ~~government~~the ~~services,~~first ~~excess satellite capacity continues to place downward pressure on transponder rates~~distribution.

~~Notwithstanding~~New ~~the~~Skies ~~challenging operating environment~~shareholders, wewho ~~were~~traded ~~able~~their toshares ~~substantially~~through ~~increase~~Euronext ~~free cash flow(C) to $86 million for the six-month period~~Amsterdam, ~~and~~can weobtain ~~continue~~details toof ~~leverage~~ the ~~strengths~~intended offinal ~~our~~distribution ~~global~~and ~~network~~subsequent ~~to attract new business, increasing the fleet~~de-~~wide~~listing ~~fill~~from ~~rate~~their ~~during~~bank ~~the~~or ~~quarter and growing backlog modestly~~stockbroker.

InAbout ~~particular~~New Skies Satellites N.V. in liquidation On June 5, 2004, New Skies Satellites N.V. signed a definitive agreement for the ~~DTH~~sale of substantially all of its assets and ~~video~~liabilities ~~capabilities~~to New Skies Satellites B.V., an affiliate of ~~our~~The ~~newer~~Blackstone ~~satellites~~Group, ~~NSS-6~~a ~~and~~leading ~~NSS-7~~private investment firm, ~~continue~~for to$956 bemillion in ~~strong~~cash, ~~demand~~equivalent byto ~~broadcasters~~approximately $7.96 ~~During~~per fully diluted share. New Skies Satellites N.V. in liquidation began formal liquidation proceedings in the ~~quarter~~Netherlands following the closing of the transaction on November 2, we2004. ~~concluded~~Its aformer ~~major~~business ~~contract~~and ~~with~~operations ~~India’s~~are ~~Department~~now ofbeing ~~Space~~operated by the acquiring company, New Skies Satellites B.V

(A) See definition of EBITDA and “Reconciliation of EBITDA to net income” in Note 3 of “Notes to the consolidated quarterly financial information”.

(B) See Note 2 of “Notes to the consolidated quarterly financial information”.

(C) See definition of free cash flow and “Reconciliation of net cash provided by operating activities to free cash flow from operations” in Note 4 of “Notes to the consolidated quarterly financial information”.

to provide NSS-6 capacity for Zee Television’s DTH service in India. Adding to the agreement secured last quarter for the DTH platform of Doordarshan, India’s national broadcaster, this latest contract firmly establishes NSS-6 as the premier DTH satellite for the Indian subcontinent.

Additionally, we signed a significant agreement with Globecast for the distribution of a number of Algerian channels throughout the Middle East and North Africa, further strengthening NSS-7‘s position as the leading satellite for video distribution throughout the whole of Africa.

Finally, I’m pleased to report that our agreement for the sale of the company to affiliates of The Blackstone Group is on track and we now expect the transaction to be completed by the end of this year.

Financial highlights:

For the three- and six-month periods ended June 30, 2004, New Skies achieved the following financial results:

• Revenues for the three months ended June 30, 2004 were $83.3 million, an increase of $28.6 million, or 52 percent, from $54.7 million in the same period in 2003. For the first six months of the year, revenues were $135.1 million, up $28.4 million, or 27 percent, compared to $106.7 million in 2003. Revenues for the current quarter and six-month period include the orbital location coordination agreement signed with Intelsat resulting in a corresponding one-time cash receipt of $32.0 million. Excluding this agreement, revenues were $51.3 million for the quarter and $103.1 million for the first six months of the year.

• Operating expenses, excluding depreciation, increased $2.8 million for the quarter, and $5.2 million for the six months ended June 30, 2004, as compared to the same periods in 2003. These net increases are primarily due to certain costs relating to the currently undertaken purchase of New Skies by affiliates of The Blackstone Group ($2.8 million for the quarter and $3.5 million for the six-month period), increased in-orbit insurance costs ($0.8 million for the quarter and $2.3 million for the six-month period) and increased stock compensation expense ($0.4 million for the six-month period), partially offset by savings rising from careful management of our discretionary costs.

• Net income for the second quarter 2004 was $19.5 million compared to $3.1 million in the same period in the prior year, while the net income for the six-month period ended June 30, 2004 was $19.6 million compared to $6.7 million in the same period in the prior year. Net income for the three months ended June 30, 2004 reflected the orbital location coordination agreement and corresponding receipt of a one-time cash payment of $32.0 million and the incurrence of acquisition-related expenses of $2.8 million ($3.5 million for the six month period ended June 30, 2004). Excluding these two non-recurring events, net income for quarter was $0.8 million, and $1.4 million for the six-month period.

• In the second quarter 2004, EBITDA was $56.5 million, compared to $30.7 million for the same period in the prior year. EBITDA for the six months ended June 30, 2004 was $82.9 million, as compared to $59.7 million for the same period in 2003. Excluding the two non-recurring events previously mentioned, EBITDA for the second quarter 2004 was $27.3 million, and $54.4 million for the six-month period ended June 30, 2004.

• The company achieved positive free cash flow position of $58.8 million in the second quarter 2004 compared to $26.3 million in 2003. Free cash flow for the six months ended June 30, 2004 was $86.0 million compared to free cash flow of $36.1 million in the same period in the prior year. Excluding the two non-recurring events previously mentioned, free cash flow for the second quarter 2004 was $29.6 million, and $57.5 million for the six-month period ended June 30, 2004.

• Backlog at the end of the second quarter 2004 was $649 million, approximately three times annual revenues, compared to $700 million in the same period last year, and to $645 million at the end of the first quarter 2004.

Operating highlights:

New Skies secured several major video-related opportunities in the quarter, including agreements with:

• The commercial arm of India’s Department of Space, Antrix Corporation, for multiple transponders on the NSS-6 satellite to support the expansion of Zee Telefilms’ direct-to-home television service DISH TV in India.

• Globecast for capacity to distribute several Algerian television channels throughout North Africa and the Middle East over the NSS-7 satellite.

The company also concluded a number of important data, IP and voice services contracts with:

• Com-ToNet S.A., a leading Greek IP service provider and teleport operator, for a full transponder on NSS-6 to offer broadband connections to the European Internet backbone for corporations, government agencies, telecommunications companies and Internet service providers operating throughout the Middle East.

• Streamlink Communications, a Kuwaiti-based broadband service provider, to support a new two-way IP network using multiple transponders on the high-powered NSS-6 satellite.

• Nursat, a leading private telecommunications operator in Kazakhstan, for capacity on the NSS-703 Indian Ocean region satellite to support rural telecommunications throughout the Central Asian country.

Government services continued to play an important role as New Skies signed significant contracts with AT&T and the International Broadcasting Bureau.

During the quarter, New Skies also announced two new Internet offerings, IPsys® Broadbandsm for Asia and IPsys® Bandwidth on Demandsm for Latin America. The services are designed to deliver next-generation two-way satellite broadband services, such as virtual private networks and high-speed Internet connectivity, video conferencing, rural telecommunications, Voice over IP, and distance learning networks.

Additionally, New Skies supported special events programming, including UEFA Euro 2004, Wimbledon, the French Open and Formula One Racing for ABC, BT Broadcast Services, CNN, EBU, NHK, NTL, RAI, Reuters, and TV Globo among others.

Recent developments:

On June 5, 2004, New Skies signed a definitive agreement for the sale of the company to affiliates of The Blackstone Group, a leading private investment firm, for $956 million in cash, equivalent to approximately $7.96 per fully diluted share. New Skies and The Blackstone Group have received certain regulatory and shareholder approvals necessary for the completion of the transaction, including:

• On July 2, 2004, New Skies and The Blackstone Group received early termination of the required waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 for Blackstone’s acquisition of New Skies.

• On July 19, 2004, New Skies’ shareholders overwhelmingly approved the sale of the company, with 92.4 percent of shares in attendance voting for the acquisition.

• The Netherlands’ Ministry of Economic Affairs formally approved the transaction on July 28, 2004.

New Skies anticipates that the transaction will be completed by the end of 2004, following the receipt of the remaining approvals and satisfaction of other customary closing conditions.

About New Skies Satellites (AEX, NYSE: NSK)

New Skies Satellites is one of only four fixed satellite communications companies with truly global satellite coverage, offering video, data, voice, and Internet communications services to a range of telecommunications carriers, broadcasters, large corporations, Internet service providers and government entities around the world. New Skies has five satellites in orbit, ground facilities around the world and one additional spacecraft under construction. The company also has secured certain rights to make use of additional orbital positions for future growth. New Skies is headquartered in The Hague, the Netherlands, and has offices in Beijing, Hong Kong, New Delhi, São Paulo, Singapore, Sydney and Washington, D.C. Additional information is available at www.newskies.com.

Conference call:

The call will also be webcast live on the New Skies web site at: http://www.newskies.com/ir.

The conference call will be available for replay, 24 hours a day for the subsequent 5 working days and will also be archived on New Skies’ website. The international dial-in number for the replay is +44 20 8288 4459 (callers in the United States may dial +1 334 323 6222; for the UK only on free phone number: 0500 637 880) Passcode: 737852.

For enquiries, please contact:
Jeff Bothwell
Corporate Communications, New Skies Satellites	+31 70 306 4239
Jbothwell@newskies.com	+31 6 1131 0183
Boris Djordjevic
Investor Relations, New Skies Satellites	+31 70 306 4183
bdjordjevic@newskies.com
Leon Melens	+31 20 647 8181
SPJ
lmelens@spj.nl

Safe Harbor

Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934 provide a "safe harbor" for forward-looking statements made by an issuer of publicly traded securities and persons acting on its behalf. New Skies Satellites N.V. has made certain forward-looking statements in this document in reliance on those safe harbors. A forward-looking statement concerns the company's or management's intentions or expectations, or are predictions of future performance. These statements are identified by words such as "intends", "expects", "anticipates", "believes", "estimates", "may", "will", "should" and similar expressions. By their nature, forward-looking statements are not a matter of historical fact and involve risks and uncertainties that could cause New Skies' actual results to differ materially from those expressed or implied by the forward-looking statements for a number of reasons. Factors which may affect the future performance of New Skies include: delays or problems in the construction or launch of future satellites; technical performance of in-orbit satellites and earth-based infrastructure; increased competition and changes in technology; growth of and access to the company's target markets; legal and regulatory developments affecting the company's business; and worldwide business and economic conditions, among other things. These risks and other risks affecting New Skies' business are described in the company's periodic filings with the U.S. Securities and Exchange Commission, including but not limited to New Skies' Annual Report on Form 20-F for the year ended December 31, 2003. Copies of these filings may be obtained by contacting the SEC. New Skies disclaims any obligation to update the forward-looking statements contained in this document.

New Skies Satellites N.V. and Subsidiaries
Consolidated Balance Sheets
June 30, 2004 and December 31, 2003
(In thousands of U.S. Dollars, except share data)
	June 30,			December 31,
	2004			2003
		(unaudited)
Assets
Current Assets
Cash and cash equivalents	$	102,917		$	23,253
Trade receivables		43,339			41,870
Prepaid expenses and other assets		11,740			14,782
Total Current Assets		157,996			79,905
Communications, plant and other property, net		978,441			1,026,580
Deferred tax asset		8,620			8,748
Other assets		258			603
TOTAL	$	1,145,315		$	1,115,836
Liabilities and Shareholders' Equity
Current Liabilities
Accounts payable and accrued liabilities	$	23,430		$	17,518
Income taxes payable		42,282			32,346
Deferred revenues and other liabilities		8,745			8,138
Satellite performance incentives		6,561			6,429
Total Current Liabilities		81,018			64,431
Long Term Liabilities		46,070			49,615
Shareholders' Equity
Governance preference shares (227,530,000 shares		-			-
authorized, par value €0.05; none issued)
Cumulative preferred financing shares (22,753,000 shares		-			-
authorized, par value €0.05; none issued)
Ordinary Shares (204,777,000 shares authorized, par value
€0.05; 118,096,572 and 117,668,652 shares issued,
respectively)		5,458			5,431
Additional paid-in capital		928,122			926,109
Retained earnings		82,758			67,854
Unearned compensation		(82	)		(179	)
Accumulated other comprehensive income		1,971			2,575
Total Shareholders' Equity		1,018,227			1,001,790
TOTAL	$	1,145,315		$	1,115,836

New Skies Satellites N.V. and Subsidiaries Consolidated Statements of Income

Three-month periods ended June 30, 2004 and 2003 (unaudited)
(In thousands of U.S. Dollars, except share data)
	Three-month periods ended
	June 30
	2004		2003
Revenues (See Note 2)	$	83,253	$	54,650
Operating expenses:
Cost of operations		13,623		13,114
Selling, general and administrative ( See Note 2)		13,151		10,874
Depreciation		25,775		25,701
Total Operating Expenses		52,549		49,689
Operating Income		30,704		4,961
Interest expense, net		258		68
Income Before Income Tax Expense		30,446		4,893
Income tax expense		10,961		1,761
Net Income	$	19,485	$	3,132
Earnings Per Share:
Basic	$	0.17	$	0.03
Diluted		0.16		0.03
Six-month periods ended June 30, 2004 and 2003 (unaudited)
(In thousands of U.S. Dollars, except share data)
	Six-month periods ended
	June 30
	2004		2003
Revenues (See Note 2)	$	135,108	$	106,661
Operating expenses:
Cost of operations		27,375		25,694
Selling, general and administrative (See Note 2)		24,838		21,307
Depreciation		51,643		48,626
Total Operating Expenses		103,856		95,627
Operating Income		31,252		11,034
Interest expense, net		588		549
Income Before Income Tax Expense		30,664		10,485
Income tax expense		11,039		3,775
Net Income	$	19,625	$	6,710
Earnings Per Share:
Basic	$	0.17	$	0.06
Diluted		0.16		0.06

New Skies Satellites N.V. and Subsidiaries Consolidated Statements of Cash Flows (unaudited)

Six-month periods ended June 30, 2004 and 2003 (In thousands of U.S. Dollars)

		Six-month periods ended
		June 30
	2004			2003
Cash flows from operating activities:
Net income	$	19,625		$	6,710
Adjustments for non-cash items:
Depreciation		51,643			48,626
Deferred taxes		775			641
Stock compensation expense		1,396			968
Changes in operating assets and liabilities:
Trade receivables		(1,573	)		(3,048	)
Prepaid expenses and other assets		2,297			1,476
Accounts payable and accrued liabilities		5,428			1,776
Income taxes payable		9,846			1,563
Other liabilities		453			(2,449	)
Net Cash Provided By Operating Activities		89,890			56,263
Cash flows from investing activities:
Payments for communication, plant and other
property		(3,859	)		(20,210	)
Net Cash Used In Investing Activities		(3,859	)		(20,210	)
Cash flows from financing activities:
Repayment of short-term borrowings		-			(5,000	)
Treasury stock acquired		-			(32,162	)
Stock options exercised		741			-
Dividends paid		(3,985	)		-
Satellite performance incentives and other		(2,838	)		(2,421	)
Net Cash Used In Financing Activities		(6,082	)		(39,583	)
Effect of exchange rate differences		(285	)		310
Net change in cash and cash equivalents		79,664			(3,220	)
Cash and cash equivalents, beginning of year		23,253			8,329
Cash and cash equivalents, end of period	$	102,917		$	5,109

Cash payments for interest (net of amounts capitalized) were nil for the six-month periods ended June 30, 2004 and 2003. Income taxes paid amounted to $1.1 million and $1.8 million for the six-month periods ended June 30, 2004 and 2003, respectively.

New Skies Satellites N.V. and Subsidiaries Notes to the consolidated quarterly financial information

Three- and six-month periods ended June 30, 2004 and 2003 (unaudited)

(1)	Acquistion of the Company
	On June 5, 2004, the Company signed a definitive agreement for the sale of the Company to affiliates of The Blackstone Group ("Purchaser"), a private investment firm, for $956 million in cash, equivalent to approximately $7.96 per fully diluted share ("Blackstone Transaction"). According to the agreement, the sale of the Company involves the transfer of New Skies' business and operations to certain wholly-owned subsidiaries of Cayman Islands private equity funds affiliated with The Blackstone Group and the distribution of the cash proceeds to our shareholders. The sale would be structured as the sale of substantially all assets to, and the assumption of substantially all liabilities by, the Purchaser.
	On July 19, 2004, New Skies' shareholders approved the sale of the company, with 92.4 percent of shares in attendance voting for the acquisition. It is expected that the transaction will be completed once the applicable regulatory approvals have been received and certain financing and other customary conditions have been satisfied. After the closing of the Blackstone Transaction, a liquidation of New Skies is contemplated, pursuant to which two liquidation distributions will be paid to shareholders: (i) an initial liquidation distribution which is expected to consist of approximately 95 percent of the cash proceeds of the asset sale shortly after the closing of the Blackstone Transaction; and (ii) a final liquidation distribution of the remaining cash proceeds approximately ten weeks after the initial distribution. This process is expected to conclude by approximately the end of 2004 or early 2005.
(2)	Additional information
	The second quarter and year-to-date 2004 performance includes two non-recurring events:
	(i)	a comprehensive agreement with Intelsat relating to certain longstanding orbital slot coordination matters, whereby New Skies agreed not to bring a satellite into use at the 120.8 degrees west longitude location in order to ensure Intelsat's IA-13 satellite will be able to operate at 121 degrees west longitude without interference. In return, Intelsat made a one-time payment to New Skies of $32 million. Both parties also resolved all outstanding coordination issues regarding operations at 340 degrees east longitude and 57 degrees east longitude, safeguarding New Skies' planned operations in the Atlantic Ocean region and for our NSS-8 satellite, planned for operation in the Indian Ocean region, and
	(ii)	costs incurred relating to the purchase of the Company by affiliates of The Blackstone Group of $0.7 million and $2.8 million, in the first and second quarters of 2004, respectively.
(3)	Reconciliation of EBITDA to net income
	New Skies believes earnings before interest, taxes, depreciation, amortization and other expenses, primarily financing costs relating to the revolving credit facility, (EBITDA) is a measure of performance used by some investors, equity analysts and others to make informed investment decisions. EBITDA is not presented as an alternative measure of operating results or cash flow from operations, as determined in accordance with generally accepted accounting principles in the U.S. EBITDA as presented herein may not be

comparable to similarly titled measures reported by other companies. EBITDA is reconciled to net income as follows:

(in thousands of U.S. dollars)		Three-month periods ended						Six-month periods ended
		June 30,						June 30,
	2004				2003		2004				2003
Net income	$	19,485		$	3,132		$	19,625		$	6,710
Income tax expense		10,961			1,761			11,039			3,775
Interest expense		382			696			784			1,187
Interest expense capitalized		(382	)		(696	)		(784	)		(1,187	)
Interest-financing costs		258			68			588			549
Depreciation		25,775			25,701			51,643			48,626
EBITDA	$	56,479		$	30,662		$	82,895		$	59,660

(4) Reconciliation of net cash provided by operating activities to free cash flow from operations New Skies believes free cash flow from operations is a measure of performance used by some investors, equity analysts and others to make informed investment decisions. Free cash flow from operations is not presented as an alternative measure of cash flow from operations, as determined in accordance with generally accepted accounting principles in the U.S. Free cash flow from operations as presented herein may not be comparable to similarly titled measures reported by other companies. Free cash flow from operations is reconciled to net cash provided by operating activities as follows:

(in thousands of U.S. dollars)		Three-month periods ended						Six-month periods ended
		June 30,						June 30,
	2004			2003			2004			2003
Net cash provided by operating activities	$	60,479		$	31,102		$	89,890		$	56,263
Payments for communication, plant and
other property		(1,674	)		(4,776	)		(3,859	)		(20,210	)
Free cash flow from operations	$	58,805		$	26,326		$	86,031		$	36,053

(5) Stock based compensation

Effective January 1, 2003, New Skies adopted the fair value based method of accounting for stock compensation under SFAS 123, Accounting for Stock-Based Compensation, transitioning via the prospective method. The following table illustrates the effect on net income and earnings per share if New Skies had applied the fair value recognition provisions of SFAS 123 for all stock-based compensation awards.

(in thousands of U.S. dollars,		Three-month periods ended						Six-month periods ended
except earnings per share data)		June 30,						June 30,
		2004			2003			2004			2003
Net income, as reported	$	19,485		$	3,132		$	19,625		$	6,710
Add: Stock-based employee compensation expense
included in reported net income, net of taxes		521			425			991			666
Less: Total stock-based employee compensation
expense determined under fair value based
Method for all awards, net of taxes		(876	)		(1,270	)		(1,871	)		(2,632	)
Pro forma net income	$	19,130		$	2,287		$	18,745		$	4,744

		Three-month periods ended				Six-month periods ended
		June 30,				June 30,
		2004		2003		2004		2003
Earnings per share:
Basic, as reported	$	0.17	$	0.03	$	0.17	$	0.06
Basic, pro forma		0.16		0.02		0.16		0.04
Diluted, as reported		0.16		0.03		0.16		0.06
Diluted, pro forma		0.16		0.02		0.16		0.04

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

New Skies Satellites N.V.

By: /s/ ~~Andrew~~Thai ~~Browne~~Rubin Name: Thai ~~Andrew~~Rubin ~~Browne~~ Title: ~~CFO~~General ~~and~~Counsel ~~Management Board Member~~

Date: ~~August~~April 19, ~~2004~~ 2005

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