GDP expanded a rapid 5. Likewise ,
inflation remained low, the current account posted a surplus, net
external debt moved lower, and international reserves reached US$207
billion in aggregate for the sovereigns Fitch rates in Latin America. The combination of power
and coverage makes it an ideal platform to launch two-way , broadband
communications services to even the most remote locations.

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Impsat has deployed a new IP hub at its teleport facility in
Buenos Aires to launch two-way, broadband Internet, Voice-over -IP
(VoIP) and Virtual Private Network (VPN) services throughout
Argentina, Chile, Paraguay, Uruguay , Bolivia and Brazil.

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'
The Fitch report features articles on the impact on the region of
the end of textile and clothing quotas with the phasing out of the
Multi-Fiber Agreement and the comparison of two bellwether sovereigns,
Brazil and Turkey, as well as country updates on key sovereigns in the
region and a discussion of the rating implications of a bond
restructuring in Argentina and one likely to occur in the Dominican
Republic."

About NSS-7

NSS-7 features 49 C-band and 48 Ku-band 36 MHz-equivalent
transponders and 11 high-powered coverage beams capable of
broadcasting video, Internet and data traffic throughout the Americas,
Europe, the Middle East and Africa.

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com
'As long as Latin America continues to perform well, economically
and from the policy perspective ,' said Roger Scher, Managing Director,
Fitch Sovereign Ratings, 'then further positive rating or Outlook
actions are possible in 2005.
Structural reforms that will raise the region's low savings and
investment rates could help in this regard.

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, the global satellite communications company, today
announced a long-term agreement with Latin American broadband service
provider Impsat in Argentina to support a new two-way broadband
Internet network using the high-powered NSS-7 satellite. This agreement pairs
NSS-7, one of the most advance satellites serving Latin America, with
the latest network technology, bringing cost-effective, high-speed
broadband communications services to users anywhere in the region.

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Business Editors/Foreign Editors

NEW YORK----Fitch Ratings has issued
a special report, 'Latin American Sovereign Review: January 2005,'
with Fitch's forecast for sovereign credit trends in Latin America for
2005.
Likewise, a lack of GDP growth has been the region's main weakness. New Skies is
headquartered in The Hague, The Netherlands, and has offices in Hong
Kong, New Delhi, Sao Paulo, Singapore, Sydney and Washington, D.

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"
Matias Heinrich, executive vice-president of Networks for Impsat
Fiber Networks, Inc. Given the broad coverage
and smaller , more cost-efficient hardware, we will be able to target a
wider potential customer base with more affordable services.

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fitchratings.

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Scher went on to say that the best way to insulate themselves from
external shocks was for Latin American governments to redouble their
reform efforts, focusing on public finances and microeconomic reforms.

New Skies' NSS-7 Selected by Impsat in Argentina to Support Two-Way Broadband Communications in Latin America

is a leading provider of private
telecommunications network, Internet services and Data Centers in
Latin America.

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Business Editors/Telecommunications Writers

THE HAGUE, Netherlands----New Skies
Satellites B.

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Only one sovereign in the region was downgraded
last year (the Dominican Republic)., said: "New Skies' NSS-7 satellite fits perfectly
into our network as it presents the ideal combination of reliability,
power and coverage, allowing us to provide services over a wide area
using antennas as small as 75 centimeters. The satellite is one of the most
powerful serving Latin America, enabling the use of antennas ranging
in size from 75 centimeters to 1.

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'The main indicator that deteriorated in the region since the late
1990s is the government debt-to-GDP ratio,' said Scher. 'It is here
that more work needs to be done in terms of higher primary budget
surpluses and tax, social security, and revenue-sharing reform. Impsat provides telecommunications, data center and Internet
services through our networks, which consist of owned fiber optic and
wireless links, teleports, earth stations and leased satellite links.
Impsat owns and operate 15 metropolitan area networks in some of the
largest cities in Latin America, including Buenos Aires, Bogota,
Caracas, Quito, Santiago, Rio de Janeiro, Curitiba and Sao Paulo and
has also deployed fifteen facilities to provide hosting services.

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colombia brazil

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'
Sound macro policy frameworks and improved economic performance
drove upgrades in five of the 16 emerging market sovereigns Fitch
rates in the Western Hemisphere in 2004 (Brazil, Venezuela, Peru,
Uruguay, and Ecuador), as well as two positive Outlook revisions
(Chile and Colombia).
The Fitch report is available on the Fitch Ratings web site at
www.

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But, the risks on the horizon, higher
global interest rates, greater risk aversion , lower commodity prices,
are not negligible.

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'A sharp and disorderly decline of the U.V.2 meters . Offering integrated data, voice, data center and
Internet solutions, with an emphasis on broadband transmission,
including IP/ATM switching, DWDM, and non-zero dispersion fiber
optics.

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2% last
year , the region's strongest performance since 1997.

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dollar that causes
risk aversion and investors to reduce positions in the emerging market
asset class is the most significant risk we see for Latin American
sovereign bonds this year,' said Scher.

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S.
Impsat currently provides services to more than 3.

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Fitch Issues Latin American Sovereign Review: 2005 Outlook

fitchratings.
New Skies has five satellites in orbit and ground facilities around
the world. The company has one additional spacecraft under
construction, NSS-8, which is expected to enter commercial service in
the first half of 2006, and also has secured certain rights to make
use of additional orbital positions for future growth.

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The network
is designed for government users, large corporate enterprise networks ,
small offices/home offices (SOHOs), small and medium enterprises
(SMEs), and ISPs.

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The report is available on the Fitch Ratings web site at
www.

About Impsat

Impsat Fiber Networks , Inc.000 national and
multinational companies, financial institutions, governmental
agencies, carriers, ISPs and other service providers throughout the
region with operations in Argentina, Colombia , Brazil, Venezuela,
Ecuador, Chile, Peru and the United States.

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About New Skies Satellites

New Skies Satellites is one of only four fixed satellite
communications companies with global satellite coverage, offering
data, video, Internet and voice communications services to a range of
telecommunications carriers, broadcasters, large corporations,
Internet service providers and government entities around the world.C.

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Dolores Martos, New Skies' vice president of sales for Latin
America, said: "We are very proud to have been entrusted by Impsat to
support their new IP hub and broadband services.