......is that a turnaround story or what today's anno: is that a...

......is that a turnaround story or what today's anno: is that a turnaround story or what ??

Today our shareholders have voted with resounding confidence to change the name of their company
from Multiemedia Limited to NewSat Limited. Administrative processes will take a couple of weeks
whilst we are issued with a new ASX code, inform all relevant authorities and commence branding
initiatives. We envisage that this process will be completed by months end with our organisation to
commence trading as NewSat Limited on September 1st.

The change in name will herald the commencement of a profitable year. As the Board has previously
advised shareholders, it was determined to build an enterprise capable of generating consistent
revenues and strong profitability by the 2006/07 financial year. The Boards resolve to acquire various
mediaport assets late last year is proving to be an excellent decision as they continue to attract quality
customers and increase profits. Whilst the integration process proved more difficult than initially
envisaged, the long-term results of ownership are set to exceed expectations based on our current
sales pipeline and both the private and public sectors increased acceptance of satellite as a
communications medium.



prev half year accounts:

Revenues from ordinary activities
up 36.64% to $16,080,000
Profit (loss) from ordinary activities after tax
attributable to members
down 8.11% to ($4,827,000)