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Space Systems/Loral-Built ProtoStar I Satellite Successfully Performs Post-Launch Maneuvers; Solar Array Deployment Completed On Schedule, First Thruster Firing Planned for Later Today

July 8, 2008

PALO ALTO, Calif., July 8, 2008 (PRIME NEWSWIRE) — 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 ProtoStar I satellite, which was launched on Monday afternoon from the European Spaceport in Kourou, French Guiana, is successfully performing post-launch maneuvers. It deployed its solar arrays on Monday evening and will begin thruster firings later today to place it in its circular geosynchronous orbit.

“Every time a satellite built at Space Systems/Loral is launched, we share a tremendous excitement with the operator,” said John Celli, president and chief operating officer of Space Systems/Loral. “Satellite communications continue to play an essential role around the world and more bits are transported over SS/L-built satellites than over satellites from any other manufacturer.”

Orbit raising operations are being conducted from SS/L’s Mission Control Center in Palo Alto, Calif. Following final placement into its orbital slot the satellite will undergo routine in-orbit testing, and will begin providing service to ProtoStar’s anchor customer, Dish TV India Limited, the largest Direct-to-Home television operator in India. The satellite’s Tracking, Telemetry, and Command will be managed by Singapore Telecommunications Limited (SingTel), which is also a C-band customer on the satellite.

“Starting back in 2002, Space Systems/Loral was willing to help us along as a start-up while our plans and financing took shape,” said Philip Father, president and CEO of Protostar LTD. “All along we’ve been able to rely on SS/L. Now they have delivered on schedule and provided us with the top quality satellite that is bringing our vision to fruition.”

The satellite is based on SS/L’s highly reliable, high-heritage, 1300 spacecraft bus, which provides the flexibility for a broad range of applications. It will operate in both Ku-Band and C-Band and is expected to provide more than 15 years of service.

About ProtoStar

ProtoStar, a Bermuda corporation with subsidiary operations in San Francisco, CA, and Singapore, was formed to acquire and operate high-power geostationary satellites optimized for DTH satellite television in the Asia-Pacific region. The firm is led by seasoned veterans from the satellite, direct-to-home television, telecommunications and finance industries. For more information please visit: www.protostarsat.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 high-power 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 a 50-year history and more than 1,400 on-orbit years logged, 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.

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.

This news release was distributed by PrimeNewswire, www.primenewswire.com

 CONTACT:  Space Systems/Loral           Wendy Lewis           +1 (650) 852-5188 



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