Solar Arrays Deployed On Schedule Following Successful Launch

PALO ALTO, Calif. –February 27, 2009– Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (Nasdaq:LORL) and the leading provider of commercial satellites, today announced that the Telstar 11N satellite built for Telesat, one of the world's leading fixed satellite services operators, is performing post launch maneuvers according to plan. The satellite's solar arrays deployed on schedule several hours after separation, following yesterday's successful launch aboard a Zenit-3SLB rocket from the Baikonur Space Center in Kazakhstan. Tomorrow the satellite will begin firing its thrusters to maneuver into its final geosynchronous orbit.

A photo accompanying this release is available here.

"We are proud to know that this high-power satellite will help make information and entertainment more accessible around the world," said John Celli, President and Chief Operating Officer of Space Systems/Loral. "Telstar 11N demonstrates the flexibility of our standard 1300 satellite platform, which in this case was engineered to accommodate a smaller launch vehicle. It is this flexibility together with long term proven reliability that have helped SS/L achieve more than 40 percent market share over the past five years."

When it reaches its final geosynchronous orbit, Telstar 11N will support video and data applications in North America, Western Europe, and Africa. Space Systems/Loral designed the satellite with a unique Atlantic Ocean beam, which will help Telesat meet growing demand for mobile broadband from both commercial and government customers in shipping and aviation.

"Telstar 11N is a key growth driver for Telesat in 2009 and beyond and enables us to provide high power Ku-band capacity to important regions in three continents as well as the Atlantic Ocean region," said Dan Goldberg, President and Chief Executive Officer of Telesat. "We have been very pleased to work with Space Systems/Loral and the Sea Launch/Land Launch teams, and are grateful for their professionalism and dedication in making this launch a success."

Telstar 11N has a total of 39 high-power Ku-band transponders and it weighed approximately 4,010 kilograms at launch. Based on SS/L's 1300 space-proven platform, the satellite is designed for a service life of 15 years or more. When Telstar 11N reaches its geostationary orbital slot at 37.5 degrees West longitude, there will be 56 Space Systems/Loral GEO satellites on orbit.

About Telesat
Headquartered in Ottawa, Canada, with offices and facilities around the world, Telesat is the fourth largest fixed satellite services operator. The company provides reliable and secure satellite-delivered communications solutions to broadcast, telecom, corporate and government customers. Telesat now has a global state-of-the-art fleet of 13 satellites, with another satellite under construction, and manages the operations of 13 additional satellites for third parties. Telesat is privately held. Its principal shareholders are Canada's Public Sector Pension Investment Board and Loral Space & Communications Inc.

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 active transponders on 3-axis controlled spacecraft 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, one of the world's largest providers of satellite services. Telesat 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.

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.

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Wendy Lewis
Space Systems/Loral