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SPACE SYSTEMS/LORAL SELECTED TO PROVIDE NEW SATELLITE FOR SES FLEET

PALO ALTO, Calif. – October 9, 2008 — Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (NASDAQ: LORL) and the world's leading provider of high-power commercial satellites, today announced that it has been awarded a contract to manufacture a new spacecraft for SES (Euronext Paris and Luxembourg Stock Exchange: SESG). SES' Sirius 5 is a powerful multi-mission satellite, which will operate in both Ku and C frequency bands delivering high performance and extensive coverage for direct-to-home broadcasting, broadband, point-to-point, and VSAT services in Europe and Africa.

"We are pleased to work with Space Systems/Loral on another powerful satellite for the SES Fleet," said Martin Halliwell, president of SES Engineering. "Sirius 5 will have multiple missions and enable different parts of SES to broaden their ability to provide cost-effective solutions for broadcasting and broadband. The satellite will enhance our ability to provide cost-effective solutions for broadcasting and broadband services to the Nordic and Baltic regions and enhanced services to Africa."

Designed to be located at 5 degrees East, Sirius 5 is configured with two Ku-band beams, one serving customers in the Nordic and Baltic countries and the other serving Sub-Saharan Africa. It has a total of 36 active Ku-band transponders available. The spacecraft also has two C-band beams, one with global coverage and one with hemispheric coverage, which can be operated with up to 24 active C-band transponders. The satellite design also includes a Ka-band uplink capability, allowing for flexible operations between Europe and Africa.

Based on the flight-proven Space Systems/Loral 1300 satellite bus, which provides the flexibility for a broad range of applications, the satellite is scheduled for delivery in 2011 and is designed to provide service for more than 15 years.

"This is the third satellite that we will deliver to an SES company," said John Celli, president and chief operating officer of Space Systems/Loral. "We are very pleased to be a manufacturer of choice for SES and look forward to a long tradition of collaboration."

About SES
SES (Euronext Paris, Luxembourg Stock Exchange: SESG) wholly owns three market-leading satellite operators, SES ASTRA in Europe, SES AMERICOM in North America, and SES NEW SKIES, which provides global coverage and connectivity. The Company also holds 90% of SES Sirius in Europe as well as strategic participations in Ciel in Canada and Quetzsat in Mexico. SES provides outstanding satellite communications solutions via a fleet of 39 satellites in 26 orbital positions around the globe. Additional information on SES is available at www.ses.com.

About Space Systems/Loral
Based in Palo Alto, California, SS/L designs and builds satellites and spacecraft systems for commercial and government customers around the world. As the leading provider of commercial satellites, the company works closely with satellite operators to deliver spacecraft for a broad range of services including direct-to-home television, digital audio radio, broadband Internet, and digital multimedia broadcasting. With more power on orbit than any other satellite manufacturer, SS/L helps customers meet business objectives with advanced solutions based on space-proven heritage designs. For more information, visit www.ssloral.com.

About Loral Space & Communications
Loral Space & Communications is a satellite communications company. Through its Space Systems/Loral subsidiary, the company is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring, and air traffic management. Loral also owns 64 percent of Telesat Canada, one of the world's largest providers of satellite services. Telesat Canada operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute direct-to-home video and broadband data 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 the company’s most recent annual report on Form 10-K and in its quarterly reports on Form 10-Q. The reader is specifically referred to these documents, as well as the company’s other filings with the Securities and Exchange Commission.


Contact:

Wendy Lewis
Space Systems/Loral
650-852-5188
wendy.lewis@sslmda.com