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Space Systems/Loral Wins Contract to Build New Satellite for Intelsat Corporation

    PALO ALTO, Calif., Jan. 19 /PRNewswire/ -- 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
Intelsat Corporation has awarded SS/L a contract to manufacture Intelsat
14, a new, high-power C- and Ku-band fixed satellite service (FSS)
satellite.
    "This contract underscores our long-standing relationship with
Intelsat," said John Celli, president of Space Systems/Loral. "This new
project provides SS/L the opportunity to demonstrate our success in
combining heritage, space-proven satellite technology with new innovation.
We are pleased to be awarded the contract for this important new member of
Intelsat's global fleet."
    Intelsat 14, to be located at 45 degrees West longitude, will be the
44th Space Systems/Loral satellite built over the past four decades for
Intelsat, the world's largest fixed satellite services operator. The
satellite will carry 40 C-band and 22 Ku-band transponders across four
different beams, covering the Americas, Europe and Africa.
    Intelsat 14 will have a design life of 15 years and will replace the
PAS-1R satellite when the new satellite is delivered in 2009. Its high
efficiency solar arrays and lightweight batteries are designed to provide
uninterrupted electrical power. The satellite is based on SS/L's 1300
platform, which features qualified, flight proven subsystems and a long
record of reliable operation. In all, SS/L satellites have amassed more
than 1,300 years of reliable on-orbit service.
    Intelsat 14 is the first satellite awarded to SS/L in 2007. The company
received seven satellite awards in 2006 from a wide variety of customers,
including FSS operators, direct-to-home and satellite radio service
providers.
    About Space Systems/Loral
    Space Systems/Loral is a premier designer, manufacturer, and integrator
of powerful satellites and satellite systems. SS/L also provides a range of
related services that include mission control operations and procurement of
launch services. Based in Palo Alto, Calif., the company has an
international base of commercial and government customers whose
applications include broadband data communications, television and radio
broadcasting, mobile satellite services, fixed satellite services, defense
communications, environmental monitoring, and air traffic control. SS/L
satellites have amassed more than 1,300 years of reliable on-orbit service.
SS/L is ISO 9001:2000 certified.
    About Loral Space & Communications
    Loral Space & Communications is a satellite communications company. In
addition to Space Systems/Loral, through its Skynet subsidiary Loral owns
and operates a fleet of telecommunications satellites used to broadcast
video entertainment programming, and for broadband data transmission,
Internet services and other value-added communications services. For more
information, visit Loral's web site at http://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 each of the company's annual report on Form 10-K
for the fiscal year ended December 31, 2005 and its quarterly reports on
Form 10-Q for subsequent periods. 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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