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SPACE SYSTEMS/LORAL-BUILT TERRESTAR SATELLITE SUCCESSFULLY PERFORMS POST-LAUNCH MANEUVERS

World’s Largest Commercial Satellite Deploys Solar Arrays on Schedule

Palo Alto, Calif. – July 2, 2009 — 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 the satellite it built for TerreStar Networks is successfully performing post-launch maneuvers. The world’s largest commercial satellite deployed its solar arrays Wednesday evening, following its launch aboard an Ariane 5 rocket from the European Spaceport in Kourou, French Guiana. The satellite’s first thruster firing will begin later today, to propel it toward its final geosynchronous orbit. 

"The successful launch of TerreStar-1 marks the start of a new era in integrated satellite and terrestrial mobile services," said Jeffrey Epstein, president of TerreStar Networks. "Space Systems/Loral has been an important partner in helping us achieve our vision."

TerreStar-1 has an 18-meter antenna reflector that will unfold like an umbrella when the satellite reaches its orbital slot. The large reflector enables voice, data, and video communications to be transmitted to mobile devices the size of a typical smartphone using 2GHz spectrum.

Space Systems/Loral, working with Hughes Network Systems, developed a two-way Ground-Based Beam Forming (GBBF) system that provides the flexibility to put the satellite’s power where it is needed the most at any point in time. With GBBF, TerreStar-1 is capable of generating hundreds of spot beams covering the Continental U.S., Canada, Alaska, Hawaii, Puerto Rico, and the U.S. Virgin Islands.

"Over one million hours were spent to design, build, and test TerreStar-1," said John Celli, president and chief operating officer of Space Systems/Loral. "The completion of this highly complex satellite is truly a testament to our skills, hard work, and dedication, and the support of many suppliers around the world."

The satellite is based on SS/L’s 1300 space-proven platform, which provides the flexibility to support a broad range of applications and technology advances. When TerreStar-1 reaches its geostationary orbital slot at 111.0 degrees West longitude, Space Systems/Loral will have 57 GEO satellites on orbit.

About TerreStar Networks
TerreStar Networks (www.terrestar.com), a majority owned subsidiary of TerreStar Corporation (NASDAQ:TSTR), plans to offer a reliable and secure satellite terrestrial mobile broadband network that will provide voice, data and video services dedicated to helping solve the critical communication and business continuity challenges faced by government, emergency responders, enterprise businesses and rural communities. TerreStar expects to offer next generation mobile communications through a network of partners and service providers to users who need "anywhere" coverage throughout the United States and Canada.

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, 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.  LORL-G

 

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This document contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will," "would," "could," "should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc., Space Systems/Loral, Inc. or their 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, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to the financial statements in Loral’s most recent annual report on Form 10-K and subsequent 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. Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including the global economic downturn, our history of losses and financial covenants in SS/L’s credit agreement; (2) risks associated with satellite manufacturing, including competition, contractual risks, creditworthiness of customers, performance of suppliers and management of our factory and personnel; (3) regulatory risks, such as the effect of U.S. export control and economic sanction laws; and (4) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral and SS/L operate in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the control of Loral and SS/L.

 

 

Contact:

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