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SPACE SYSTEMS/LORAL-BUILT DIRECTV 9S SATELLITE
SUCCESSFULLY LAUNCHED

DIRECTV 9S to Maximize Flexibility of DIRECTV Satellite Fleet and Quality of Local and National Services for DIRECTV customers

Palo Alto, CA - October 13, 2006 — DIRECTV 9S, a high-power, flexible, hybrid Direct Broadcast Satellite (DBS) built by Space Systems/Loral (SS/L) for DIRECTV Inc. (NYSE: DTV), was successfully launched today at 1:56 pm PDT. The satellite was put into geosynchronous transfer orbit aboard an Ariane 5 ECA rocket from Europe's Spaceport in Kourou, French Guiana . Space Systems/Loral is a subsidiary of Loral Space & Communications (NASDAQ: LORL).

“At DIRECTV, we provide the highest quality services and programming to our customers," said Phil Goswitz, vice president, Space & Communications, DIRECTV, Inc. "Our work with Space Systems/Loral and the addition of DIRECTV 9S to our fleet will help us ensure that we have a robust and technically advanced satellite fleet to maintain that level of quality. The multiple frequency bands and capability to provide high power local TV service from multiple orbital slots provides us with tremendous flexibility to maximize the services we provide our customers."

"DIRECTV is a most valued customer," said John Celli, president, Space Systems/Loral. "Their key support of SS/L and our employees over the years and throughout the DIRECTV 9S program has been extraordinary. We have established a strong and trusting relationship with DIRECTV and are proud to be adding this new spacecraft, SS/L's fifth high-power satellite to operate in DIRECTV's fleet."

The satellite, a version of SS/L's space-proven 1300 satellite platform tailored for DIRECTV's payload requirements, is similar to DIRECTV 7S, launched in May 2004, with the addition of two Ka-band transponders.

DIRECTV 9S will be positioned at 101 degrees West longitude. Weighing approximately 5,530 kg at liftoff, DIRECTV 9S is fitted with 52 high-power Ku-band transponders and 2 Ka-band transponders. With a design life of 15 years, the satellite will provide direct broadcasts for high-quality local and national digital video service using advanced digital compression technology.

As a leader in the industry, DIRECTV delivers enhanced satellite-based services, providing outstanding content, technology, service, and value to more than 15.5 million residential and business customers. Its operations include some of the world's most advanced technologies in delivering a superior viewing experience. For more information, visit the company's Web site at www.directv.com.

Space Systems/Loral 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 1,300 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 Inc. 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 from time to time 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. Many of these factors and conditions are described under the caption "Risk Factors" in each of the company's annual report on Form 10-K for the fiscal year ended December 31, 2005 and its quarterly reports on Form 10-Q for subsequent periods. The reader is specifically referred to these documents, as well as the company's other filings with the Securities and Exchange Commission.