Space
Systems/Loral (SS/L), a subsidiary of Loral Space & Communications
, today announced that the Intelsat 907 communicationssatellite has been readied for its launch on February 12 from the
European Spaceport at Kourou, French Guiana, aboard an Ariane 44L
launch vehicle.

Intelsat 907, the latest in Intelsat’s IX series of communications
satellites, is intended to serve the Americas, Europe and Africa from
its orbital position at 27.5 degrees West longitude. The Intelsat IX
satellites are some of the largest and most advanced built by SS/L to
date. Intelsat 907, based on SS/L’s space-proven 1300 satellite
platform, is the thirty-first satellite SS/L has built for the global
communications provider.

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 includes mission control
operations and procurement of launch services. Based in Palo Alto,
California, the company has an international base of commercial and
governmental customers whose applications include broadband digital
communications, direct-to-home broadcast, governmental communications,
environmental monitoring, and air traffic control. SS/L is ISO 9001
certified. For more information, visit www.ssloral.com.

Loral Space & Communications is a satellite communications
company. It owns and operates a global fleet of telecommunications
satellites used by television and cable networks to broadcast video
entertainment programming, and by communication service providers,
resellers, corporate and government customers for broadband data
transmission, Internet services and other value-added communications
services. Loral also is a world-class leader in the design and
manufacture of satellites and satellite systems through its Space
Systems/Loral subsidiary. 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 Ltd. 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
by the company 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
which are described in the section of the company’s annual report on
Form 10-K for the fiscal year ended December 31, 2001, entitled
“Certain Factors That May Affect Future Results,” and the company’s
other filings with the Securities and Exchange Commission. The reader
is specifically referred to these documents.