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SPACE SYSTEMS/LORAL EXPANDS NORTH AMERICAN AND ASIAN MARKETING AND SALES TEAMS


Palo Alto, CA — October 24, 2005
— Space Systems/Loral (SS/L) today announced that Reed Burkhart and Synette Tom have joined the organization as sales and marketing directors. Mr. Burkhart will be responsible for clients in North America, and Ms. Tom for clients in Southeast Asia.

Mr. Burkhart, a 20-year veteran of the satellite and communications industries, has previously held positions in engineering, business development and consulting at Hughes Space & Communications (now part of Boeing Integrated Defense Systems), Hughes Communications, Imedia Corporation and Communications Capital Partners.

Ms. Tom has 17 years experience in the commercial and government satellite businesses. She has previously held positions in engineering, campaign management, and business development at Boeing Space and Intelligence Systems.

"SS/L is very pleased to have Reed and Synette join our marketing and sales team," said Arnold Friedman, senior vice president, worldwide marketing and sales. "SS/L is seeing recovery and growth in the key North American and Asian markets and these additions to our team reflect our intent to increase the breadth and depth of our service to customers in these important regions."

Over the last two years, SS/L has booked more orders for commercial satellites than any other manufacturer for a wide variety of applications: FSS, mobile telephony, digital audio radio service (DARS) and direct-to-home service providers. These orders came from leading operators such as DIRECTV, EchoStar, Intelsat, PanAmSat, XM Satellite Radio, ICO and TerreStar. SS/L leads the satellite manufacturing industry in technology innovation, reliability and on-time performance.

Space Systems/Loral, a subsidiary of Loral Space & Communications, 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 governmental 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 1,200 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 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. For more information, visit Loral's web site at www.loral.com.

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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 the company with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the company. 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 the company's annual report on Form 10-K for the fiscal year ended December 31, 2004, entitled "Commitments and Contingencies," and the company's other filings with the Securities and Exchange Commission. The reader is specifically referred to these documents.