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For Immediate Release

Monday, February 5th 2007 — The editors of Access Intelligence’s Via Satellite magazine have selected Patrick DeWitt, chief executive officer of Space Systems/Loral, (SS/L) as its Satellite Executive of the Year 2006. In its 19th year, the award honors the satellite executive who made a lasting business impact on the global satellite industry during the previous calendar year.

As its top satellite executive for 2006, Via Satellite magazine will showcase DeWitt and his business accomplishments in its “Satellite Executive of the Year” cover feature in the March 2007 issue. DeWitt will give a keynote address at the Satellite Executive of the Year 2006 award luncheon on Wednesday, Feb. 21, where he will be presented with the award. An Evening Reception in his honor will also be held Wednesday.  Both events take place during the SATELLITE 2007 Conference and Exhibition, which runs Feb. 19-22 at the Washington Convention Center, Washington, D.C.

“Mr. DeWitt’s vision and guidance during his tenure at Space Systems/Loral made him a frontrunner for the Satellite Executive of Year Award,” said Jason Bates, editor of Via Satellite. “But it was DeWitt’s leadership through the hard times and preparation for the successes to come that set him apart from the rest and earned him the award in 2006.”

In 2006, Patrick DeWitt continued a remarkable story that began with his appointment as the president of SS/L in 2001. Through his leadership, the company reached the top of a highly competitive sector of the space industry. His efforts in positioning SS/L as one of the premier commercial satellite manufacturers earned him a nomination for the 2005 Satellite Executive of the Year award. His performance in 2006 was just as impressive, as SS/L continued to be among the leaders in capturing contracts to build increasingly complex commercial satellites.

Under DeWitt’s leadership, SS/L won a total of seven new satellite construction awards in 2006, from a wide array of customers, including FSS, MSS, DARS and direct-to-home service providers. The company’s backlog, as of September 30th, 2006, had swelled to more than $1.1 billion, up from $480 million at the end of 2004.

During the economic slowdown earlier this decade, DeWitt, who has been with the company for 34 years, reshaped and guided SS/L to make a strong come back.  In 2006 the company expanded its workforce by 730 employees and DeWitt continues to grow the company in order to meet worldwide demand for increasingly complex and powerful satellites. His vision and guidance has made SS/L a leader in the satellite manufacturing industry.

About Via Satellite and SATELLITE 2007

Via Satellite, the satellite community’s leading magazine, keeps its 22,000 global subscribers “in the know” by providing essential news and analysis on the commercial communications, broadcast, military and enterprise sectors of the satellite marketplace. Every issue includes information on current and evolving applications, infrastructure issues, technology, procurement reports and business and regulatory developments around the world.

For 26 years, only the SATELLITE Conference and Exhibition has provided a unique forum for all sectors within the satellite-enabled communications marketplace to come together to learn, network and collaborate. SATELLITE 2007 continues in that tradition and features an anticipated 8,000 delegates representing 50 countries, more than 280 exhibiting companies and a full conference program led by more than 300 experts, thought leaders and top-level executives. For more information or to register, visit www.SATELLITE2007.com

About Space Systems/Loral

Space Systems/Loral, a subsidiary of Loral Space & Communications Inc. (NASDAQ: LORL) 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. For more information, visit www.ssloral.com.

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 www.loral.com.