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SPACE SYSTEMS/LORAL SELECTED TO PROVIDE POWERFUL COMMUNICATIONS SATELLITE TO HISPASAT GROUP

Palo Alto, Calif.July 6, 2010 – Space Systems/Loral (SS/L), 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 HISPASAT Group the seventh largest satellite operator in the world and the leading operator in the broadcasting and distribution of contents in Spanish and Portuguese. HISPASAT will use the new satellite to broadcast and distribute TV and radio programming in the Americas and Europe, as well as for deploying universal social services and corporate fixed and mobile telephone networks in the regions.

“Space Systems/Loral has been an excellent supplier in helping us maximize the value of our satellite investment,” said Petra Mateos-Aparicio, chairman of HISPASAT. “We are very pleased to continue our working relationship with this contract for Amazonas 3, which reinforces Hispasat’s position as an important international provider of communications services.”

Amazonas 3 is a powerful, state-of-the art satellite designed to replace and expand on Amazonas 1 at 61 degrees West. It is scheduled to be available for launch in 2012.    

The new satellite will be capable of operating up to 33 simultaneous Ku-band transponders and 19 simultaneous C-band transponders over Europe and North and South America. It is based on the Space Systems/Loral 1300 satellite bus, which is a decades-proven, modular platform with the industry’s highest power capability and flexibility for a broad range of applications. It will have a launch mass of approximately five tons and will produce nearly 14 kW of power at end of life.

“As we enter the final testing phase of the satellite that HISPASAT ordered from us in 2008, we believe there is no better endorsement than that of a satisfied customer placing a repeat order,” said John Celli, president of Space Systems/Loral. “HISPASAT and Space Systems/Loral share a commitment to expanding communications access around the world, and we are very pleased to continue our excellent working relationship.”

About HISPASAT
Measured by revenue, HISPASAT is the seventh largest company in the world in its sector, and it leads the Spanish and Portuguese-speaking markets in content broadcasting and distributing. With more than 1,150 television channels and radio stations, including content from such important digital platforms as Direct to Home television (DTH) and High-Definition television (HDTV), the Group is the principal communications bridge between Europe and the Americas. More information on HISPASAT is available at www.hispasat.com.

About Space Systems/Loral
Space Systems/Loral, a subsidiary of Loral Space & Communications (NASDAQ: LORL), has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world’s leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. 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