Satellite Industry Veteran Honored For More Than 30 Years Of Service

PALO ALTO, Calif. - January 15, 2007 - Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (NASDAQ:LORL) and the world's leading provider of commercial telecommunications satellites, today announced that Robert E. Berry, chairman of SS/L, will be inducted into the Society of Satellite Professionals International (SSPI) Hall of Fame on February 20, 2007. Berry will be honored as one of six industry leaders recognized for career accomplishments in satellite communications or other space applications over a period of at least 20 years.

"We are pleased to honor Bob Berry for his leadership in providing three generations of satellites to Intelsat, the U.S. Department of Defense, and other customers," said Robert Bell, executive director of SSPI. "He was instrumental in introducing key direct broadcast, mobile and other satellite technologies."

Mr. Berry helped build today's communication satellite industry and was a pioneer in recognizing the importance of commercial satellites. He led SS/L and its predecessor, Ford Aerospace, from 1977 to 2000 and, with his willingness to push innovative concepts, was responsible for some of the world's most advanced communications and meteorological satellite projects for defense, civil and commercial applications. He also cultivated the international market for U.S. based satellite manufacturing.

A Distinguished Career
Mr. Berry served as general manager of Ford Aerospace's Space Systems Division from 1977 to 1990 and became president of SS/L in 1990, when Loral acquired Ford Aerospace & Communications Corp. He was named senior vice president of Loral Space & Communications in 1996, the year SS/L was awarded the coveted Goddard Contractor Excellence Award in recognition of the company's achievements in quality and design.

During Mr. Berry's 30-year tenure with Ford Aerospace, Space Systems/Loral, and Loral Space & Communications, SS/L pioneered the development of large, three-axis stabilized satellites, which are now standard in the industry, as well as technologies that have put the company at the forefront in providing multiple frequency network satellites for direct-to-home television broadcasting, satellite radio, broadband and international fixed satellite services.

Mr. Berry directed SS/L's industry-leading milestone developments in communications payloads, materials, batteries, propulsion systems, satellite design and power generation, multiple-beam and shaped-beam antenna applications, and the 125-kW power generation system for the International Space Station. Under Mr. Berry 's leadership, SS/L became the fastest-growing major spacecraft manufacturer of commercial communications satellites worldwide.

Mr. Berry was also key in establishing teams to work on applications for direct broadcast, mobile telephone, precise positioning, and Earth resource measurement. He advocated unconventional as well as geostationary orbits and drove the company's development of advanced electric propulsion technologies and the use of GPS for satellite tracking and ranging.

Mr. Berry was instrumental in providing three generations of satellite platforms to INTELSAT, helping the intergovernmental consortium provide fixed satellite services to more than 149 countries, territories, and dependencies. He initiated and managed Ford Aerospace's participation in the MILSTAR industry team and advocated multi-mission satellite systems, with SS/L providing military communication payloads for commercial satellites for France , Japan , Spain and Australia . Currently at SS/L, he consults with both government and commercial interests to explore new applications arising from combining satellite, wireless, and fibered transmission.

In 2003, Mr. Berry received the Arthur C. Clarke Foundation Award for Lifetime Achievement in Space Communications. In 1996, he was selected for the Aerospace Communications Award of the American Institute of Aeronautics and Astronautics (AIAA), presented for outstanding contributions in the field of aerospace communications. He was named a Fellow of the AIAA in 1999 and he holds a Life Membership in the Institute of Electrical and Electronics Engineers (IEEE).

The SSPI Hall of Fame
The SSPI Hall of Fame was introduced in 1987 to recognize the valuable contributions of the visionaries and pioneers who have made possible the age of satellite communications. With induction ceremonies taking place at an invitational ceremony every other year in conjunction with SSPI's annual black tieGala, it honors individuals who have devoted their careers to the advancing technology and to helping build the political and commercial foundations of the industry. The SSPI is the professional development society of the global satellite industry.

About Space Systems/Loral
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 government customers whose applications include broadband data communications, television and radio broadcasting, mobile satellite services, fixed satellite services, 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.

About Loral Space & Communications
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.

Investor Contact: John McCarthy
Loral Space & Communications
(212) 338-5345

Media Contact: Wendy Lewis
Space Systems/Loral
(650) 852-5188