Loral Names John P. Stenbit, Former Assistant Secretary of Defense, to Its Board of Directors

Loral Space & Communications Inc. (NASDAQ:LORL) announced today the election of John P. Stenbit to the company’s board of directors.

Mr. Stenbit has served in a wide array of public and private sector roles in telecommunications and information technology spanning more than thirty years. From 2001 until his retirement in 2004, Mr. Stenbit was Assistant Secretary of Defense for Command, Control, Communications, and Intelligence (C3I), and served as Assistant Secretary of Defense of the C3I successor organization, Networks and Information Integration / Department of Defense Chief Information Officer.

“We’re honored to welcome John to Loral’s board of directors,” said Michael B. Targoff, chief executive officer and vice chairman of the board of directors, Loral Space & Communications. “His impeccable background in engineering and strategic planning will be invaluable to Loral as we look to continue our success in the high-growth satellite communications industry.”

Previously, Mr. Stenbit was an executive vice president of TRW, where he was responsible for the planning and analysis of advanced satellite surveillance systems. Prior to joining TRW, he worked on command and control systems for missiles and satellites, and satellite data compression and pattern recognition for the Aerospace Corporation. He also previously served as principal deputy director of telecommunications and command and control systems, and as a staff specialist for worldwide command and control systems in the Office of the Secretary of Defense. He currently serves on the boards of Cogent, Inc. (NASDAQ:COGT), SI International (NASDAQ:SINT), SM&A (NASDAQ:WINS) and Viasat (NASDAQ:VSAT).

Mr. Stenbit, 66, holds a bachelors and masters degree in electrical engineering from the California Institute of Technology. He has chaired the Science and Technology Advisory Panel to the Director of Central Intelligence and served as a member of the Science Advisory Group to the directors of Naval Intelligence and the Defense Communications Agency. He also chaired the Research, Engineering and Development Advisory Committee for the Administrator of the Federal Aviation Administration. He has served on the Navy Studies Board and the National Research Council Manufacturing Board. Mr. Stenbit serves on the Defense Science Board, the National Security Agency (NSA) Advisory Board, the National Reconnaissance Office (NRO) Technical Advisory Group and the U.S. Strategic Command (STRATCOM) Science Advisory Group. He is a Fulbright Fellow and recipient of the Secretary of Defense Medal for Outstanding Public Service. In 1999, he was inducted into the National Academy of Engineering.

Mr. Stenbit also will serve on Loral’s audit committee. With the appointment of Mr. Stenbit to the audit committee, Loral is now in compliance again with NASDAQ Marketplace Rule 4350, which requires that a listed company’s audit committee be comprised of at least three independent directors.

Loral Space & Communications is a satellite communications company. It owns and operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute broadband data, and provide access to 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 for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring and air traffic management. 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 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.

Contact:

John McCarthy

(212) 338-5345