Robert Prevaux Named Vice President Of Business Development For Space Systems/Loral's NASA And Civil Government Business

PALO ALTO, CALIF. - June 10, 2004 - Space Systems/Loral (SS/L) today announced that Mr. Robert Prevaux has been named vice president, business development and will assume SS/L's marketing and sales responsibilities for the National Aeronautics and Space Administration (NASA), the National Oceanic and Atmospheric Administration (NOAA) and other civil agencies. He will report to Arnold Friedman, senior vice president of marketing and sales.

Mr. Prevaux, a 27-year veteran of the space and telecommunications industries, was most recently executive director for SS/L's satellite radio programs, responsible for complete program management of mobile broadcasting satellites including MBSAT and the Sirius Satellite Radio constellation. In addition to managing large satellite programs, he has also participated in the design and implementation of satellite systems, communications payloads and industrial telecommunications systems. Prior to joining SS/L, he was president of CTS Inc., an aerospace services company.

"In addition to focusing on SS/L's heritage civil government programs, such as GOES meteorological satellites for NOAA and power systems for the International Space Station, Robert will work to expand the company's customer base in additional key government-related markets," said Mr. Friedman. "He brings important experience and relationships to SS/L that will continue to foster the company's growth in government programs."

Mr. Prevaux holds a bachelor's degree in electrical engineering from the University of Michigan and is a member of the American Institute of Aeronautics and Astronautics (AIAA) and the Institute of Electrical and Electronics Engineers (IEEE). In 2002, SS/L's Sirius program team, led by Mr. Prevaux, was inducted into the Space Foundation Technology Hall of Fame for contributions to satellite radio.

SS/L manufactured five GOES (Geostationary Operational Environmental Satellite) satellites under contract to NASA for delivery to NOAA. In 2003, SS/L was awarded one of the advanced architecture study contracts for NOAA's next series of spacecraft, GOES-R. Recently, SS/L delivered the MTSAT-1R dual-use satellite to Japan's space center in Tanegashima, Japan. The meteorological and air traffic control satellite was built for the Japanese Meteorological Agency and the Japanese Civil Aviation Bureau (JCAB), both of the Ministry of Land, Infrastructure and Transport (MLIT).

Space Systems/Loral, a subsidiary of Loral Space & Communications (OTCBB: LRLSQ), is a premier designer, manufacturer, and integrator of powerful satellites and satellite systems. SS/L also provides a range of related services that include mission control operations and procurement of launch services. Based in Palo Alto, Calif., the company has an international base of commercial and government customers whose applications include broadband digital communications, direct-to-home broadcast, defense communications, environmental monitoring, and air traffic control. SS/L satellites have amassed more than 1000 years of reliable on-orbit service. SS/L is ISO 9001:2000 certified. For more information, visit www.ssloral.com.

Loral Space & Communications is a satellite communications company. In addition to Space Systems/Loral, through its Loral Skynet subsidiary, Loral owns and operates a fleet of telecommunications satellites used to broadcast video entertainment programming, and for broadband data transmission, Internet services and other value-added communications services.

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This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, Loral Space & Communications Ltd. or its representatives have made or may make forward-looking statements, orally or in writing, which may be included in, but are not limited to, various filings made by Loral with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of Loral. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions. These factors include those related to the filing, on July 15, 2003 by Loral and certain of its subsidiaries, of voluntary petitions for reorganization under Chapter 11 of Title 11 of the United States Code in the United States District Court for the Southern District of New York and parallel insolvency proceedings in the Supreme Court of Bermuda in which certain partners of KPMG were appointed as joint provisional liquidators. Additional factors and conditions are also described in the section of Loral's annual report on Form 10-K for the fiscal year ended December 31, 2003, entitled "Certain Factors That May Affect Future Results," and Loral's other filings with the Securities and Exchange Commission. The reader is specifically referred to these documents.

John McCarthy
Loral Space & Communications