Photo Release -- Space Systems/Loral Selected to Provide Powerful Communications Satellite to HISPASAT Group
PALO ALTO, Calif., Jul 6, 2010 (GlobeNewswire via COMTEX News Network) -- Space Systems/Loral (SS/L), the world's leading provider of high-power commercial satellites, today announced that it has been awarded a contract to manufacture a new spacecraft for HISPASAT Group, the seventh largest satellite operator in the world and the leading operator in the broadcasting and distribution of contents in Spanish and Portuguese. HISPASAT will use the new satellite to broadcast and distribute TV and radio programming in the Americas and Europe as well as for deploying universal social services and corporate fixed and mobile telephone networks in the regions. A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7671 "Space Systems/Loral has been an
excellent supplier in helping us maximize the value of our satellite investment," said Petra Mateos-Aparicio, Chairman of HISPASAT. "We are very pleased to continue
our working relationship with this contract for Amazonas 3, which reinforces HISPASAT's position as an important international provider of communications services." Amazonas 3 is a powerful, state-of-the art satellite designed to replace and expand on Amazonas 1 at 61 degrees West. It is scheduled to be available for launch in 2012. The new satellite will be capable of operating up to 33 simultaneous Ku-band transponders and 19 simultaneous C-band transponders over Europe and North and South America. It is based on the Space Systems/Loral 1300 satellite bus, which is a decades-proven, modular platform with the industry's highest power capability and flexibility for a broad range of applications. It will have a launch mass of approximately five tons and will produce nearly 14-kW of power at end of life. "As we enter the final testing phase of the satellite that
HISPASAT ordered from us in 2008, we believe there is no better endorsement than that of a satisfied customer placing a repeat order," said John Celli, president of Space Systems/Loral. "HISPASAT and Space Systems/Loral share a commitment to expanding communications access around the world and we are very pleased to continue our excellent working relationship." About HISPASAT Measured by revenue, HISPASAT is the seventh largest company in the world in its sector, and it leads the Spanish and Portuguese-speaking markets in content broadcasting and distributing. With more than 1,150 television channels and radio stations, including content from such important digital platforms as Direct to Home television (DTH) and High-Definition television (HDTV), the Group is the principal communications bridge between Europe and the Americas. More information on HISPASAT is available at
http://www.HISPASAT.com/. About Space Systems/Loral Space Systems/Loral, a subsidiary of Loral Space & Communications (Nasdaq:LORL), has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. 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 (Photo: http://www.primezone.com/newsroom/prs/?pkgid=) This document contains forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will,"
"would," "could," "should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc., Space Systems/Loral, Inc. or their 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, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to the financial statements in Loral's most recent Form 10-Q
filed on May 10, 2010 and in our 2009 annual report on Form 10-K. The reader is specifically referred to this document, as well as the company's other filings with the Securities and Exchange Commission. Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including the global economic downturn, our history of losses and financial covenants in SS/L's credit agreement; (2) risks associated with satellite manufacturing, including competition, contractual risks, creditworthiness of customers, performance of suppliers and management of our factory and personnel; (3) regulatory risks, such as the effect of U.S. export control and economic sanction laws; and (4) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral and SS/L operate in an industry sector where securities values may be
volatile and may be influenced by economic and other factors beyond the control of Loral and SS/L. This news release was distributed by GlobeNewswire, www.globenewswire.com SOURCE: Loral Space & Communications Inc. CONTACT: Space Systems/Loral
Media Contact:
Wendy Lewis
+1 (650) 852-5188
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
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