FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Bull Adrien   2. Issuer Name and Ticker or Trading Symbol New Skies Satellites Holdings Ltd. [NSE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Controller NSS B.V. (Last) (First) (Middle) ROOSEVELTPLANTSOEN 4 3. Date of Earliest Transaction (Month/Day/Year) 12/29/2005 (Street) THE HAGUE, P7 2517 KR 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $0.01 per share 12/29/2005   M   1,870 A $ 2.99 4,307 D   Common Stock, par value $0.01 per share 12/29/2005   F   844 D $ 21.63 4,307 D   Common Stock, par value $0.01 per share 12/30/2005   M   278 A $ 2.99 4,460 D   Common Stock, par value $0.01 per share 12/30/2005   F   125 D $ 21.77 4,460 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option to purchase shares of Common Stock	$ 2.99	12/29/2005		M			1,870	12/29/2005	(1)	Common Stock	1,870	(3)	13,086	D
Option to purchase shares of Common Stock	$ 2.99	12/30/2005		A		234		(2)	(1)	Common Stock	234	(2)	10,995	D
Option to purchase shares of Common Stock	$ 2.99	12/30/2005		A		278		12/30/2005	(1)	Common Stock	278	(3)	13,086	D
Option to purchase shares of Common Stock	$ 2.99	12/30/2005		M			278	12/30/2005	(1)	Common Stock	278	(3)	0	D
Option to purchase shares of Common Stock (4)	$ 2.99	12/30/2005		D			10,995	(2)	(1)	Common Stock	10,995	(2)	0	D
Option to purchase shares of Common Stock (4)	$ 2.92	12/30/2005		A		10,995		(2)	(1)	Common Stock	10,995	(2)	10,995	D
Option to purchase shares of Common Stock (4)	$ 2.99	12/30/2005		D			13,086	12/30/2005	(1)	Common Stock	13,086	(3)	0	D
Option to purchase shares of Common Stock (4)	$ 2.92	12/30/2005		A		13,086		12/30/2005	(1)	Common Stock	13,086	(3)	13,086	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Bull Adrien ROOSEVELTPLANTSOEN 4 THE HAGUE, P7 2517 KR			Controller NSS B.V.

Signatures

/s/ Thai E. Rubin, by power of attorney		01/04/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The options have a ten year term subject to the optionee's continued employment.
(2)	Subject to optionee's continued employment, the options will vest ratably over four years.
(3)	See Table 1.
(4)	The exercise price of the option was changed from $2.99 to $2.92 on December 30, 2005.

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