Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (Nasdaq:LORL) and the leading provider of commercial satellites, today announced that a satellite that it built for Intelsat, the world’s leading provider of fixed satellite services, is performing post-launch maneuvers according to plan. The satellite deployed its solar arrays as planned early this morning, following its successful launch aboard an Atlas V rocket from Cape Canaveral, Florida. Tomorrow, the satellite is scheduled to begin firing its main thruster in order to start maneuvering into geosynchronous orbit.

IS-14, to be located at 315 degrees E, will provide high-powered communication services through its C- and Ku-band, serving Intelsat network and government customers throughout the Americas, Europe and Africa. IS-14 will replace Intelsat’s IS-1R satellite once it enters service. The spacecraft also carries a hosted payload for the Internet Router in Space, or IRIS program, for CISCO, which expands on SS/L’s experience integrating hosted payloads on commercial satellites.

“Our relationship with SS/L spans decades, and about half of the satellites in our current active fleet are satellites built by SS/L. We will continue to build this relationship and look forward to introducing the three additional SS/L satellites, currently under construction, into our fleet by 2012,” said Ken Lee, Intelsat’s Senior Vice President, Space Systems. “We are very pleased with the IS-14 campaign and our successful partnership with SS/L.”

“We’re pleased to once again meet our customer’s expectations with a high-quality, high-performance satellite,” said John Celli, Space Systems/Loral’s President. “We have been committed to helping Intelsat provide communications services around the world for more than 30 years and are happy to see the 44th satellite that we built for them launched and performing according to plan.”

Intelsat 14 is based on the Space Systems/Loral 1300 space-proven platform, which provides the power and flexibility to support a broad range of applications and is an ideal platform for hosted payloads and multi-mission satellites. With the launch of Intelsat 14, there are now 60 Space Systems/Loral satellites currently on orbit.

About Intelsat

Intelsat is the world’s leading provider of fixed satellite services. For 45 years, Intelsat has been delivering information and entertainment for many of the world’s leading media and network companies, multinational corporations, Internet service providers and governmental agencies. Intelsat’s satellite, teleport and fiber infrastructure is unmatched in the industry, setting the standard for transmissions of video, data and voice services. From the globalization of content and the proliferation of HD, to the expansion of cellular networks and broadband access, with Intelsat, advanced communications anywhere in the world are closer, by far.

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 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 more active transponders on three-axis controlled spacecraft than any other satellite manufacturer, 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, one of the world’s largest providers of satellite services. Telesat 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. LORL-G