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Space Systems/Loral Awarded NASA Contract For Landsat Data Continuity Mission Accommodation Study

Space Systems/Loral to Design Spacecraft to Fulfill Unique Requirements for the Landsat Earth Observing Satellite Mission

PALO ALTO, Calif. - May 31, 2007 - 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 the NASA Goddard Space Flight Center's Rapid Spacecraft Development Office (RSDO) recently awarded SS/L a delivery order for a Landsat Data Continuity Mission (LDCM) Spacecraft Accommodation Study.

The Landsat Program is a series of Earth-observing satellite missions jointly managed by NASA and the U.S. Geological Survey (USGS). The satellites provide imagery that is used in agriculture, geology, forestry, regional planning, education, mapping, and global change research. The LDCM will ensure that 30 years of image records from previous Landsat satellites will be preserved into the next decade.

SS/L will propose to NASA a spacecraft design based on the company's flexible and space-proven 1300-bus platform that meets LDCM implementation and mission requirements. During the four month project, SS/L will study how to integrate the LDCM Operational Land Imager (OLI) instrument and will include plans for mission integration, testing and other programmatic issues.

The delivery order follows a March 2007 award to SS/L for inclusion in the RSDO catalog of core spacecraft systems from which NASA and other federal agencies can order. SS/L's inclusion in the RSDO catalog enables the company to compete for a variety of U.S. government contracts.

SS/L's 1300 bus is an industry leader in supporting high reliability, long life missions including the most advanced communications and meteorological missions. The lightweight and high-strength structure-with fuel-efficient attitude and stationkeeping subsystems, high-efficiency solar arrays and batteries, and advanced command and control subsystems-offers high power, stable pointing, extensive flexibility, and a long mission life.

"We are very pleased to have the opportunity to demonstrate how the 1300 satellite bus and our other space-proven building blocks can be configured to assure the success of the Landsat Data Continuity Mission," said John Celli, president and chief operating officer of Space Systems/Loral. "Our commercial satellite customers demand fixed budgets and schedules as well as unquestionable service reliability. Our experience in meeting these stringent requirements positions us very well for meeting the needs of U.S. government programs."

The 4-month LDCM spacecraft accommodation study is in preparation for a Request for Offer (RFO) for the LDCM satellite procurement, which is expected to be released by the RSDO this fall with an award in December.

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 high-power 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 a 50-year history and more than 1,300 on-orbit years logged, 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. 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.

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, 2006 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.

Investor Contact: John McCarthy
Loral Space & Communications
+1 (212) 338-5345

Media Contact: Wendy Lewis
Space Systems/Loral
+1 (650) 852-5188

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