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Press release from GlobeNewswire (a Nasdaq OMX company)

Space Systems/Loral Selected to Provide Multi-Mission Communications Satellite to Telenor

Monday, June 20, 2011

Space Systems/Loral Selected to Provide Multi-Mission Communications Satellite to Telenor03:00 EDT Monday, June 20, 2011PALO ALTO, Calif., June 20, 2011 (GLOBE NEWSWIRE) -- Space Systems/Loral (SS/L), the leading provider of commercial satellites, today announced that it has been awarded a contract to provide a multi-mission spacecraft for Telenor Satellite Broadcasting (TSBc). The satellite, THOR 7, will include Telenor's first Ka-band payload, which will be used for maritime broadband services. It also includes a Ku-band payload for expanded broadcast capacity in Central and Eastern Europe. "Space Systems/Loral's high power capability and broad experience with Ka-band satellites was significant in our decision to choose this manufacturer," said Cato Halsaa, vice president and CEO of TSBc. "The ongoing proliferation of video content both on television and the Internet, assures the role of satellite around the world, and THOR 7 will help us support this growing demand in our regions." THOR 7 will be positioned, together with the existing THOR fleet, at 1 degree West. Based on SS/L's highly reliable 1300 satellite platform, it will be equipped with 11 Ku-band transponders, dedicated to expanded broadcast services in Europe and additional Ku-band capacity for back-up. The Ka-band payload will be used to meet the growing demand for high-bandwidth broadband communications by the maritime industry and includes spot beams over the North Sea, Norwegian Sea, Red Sea, Baltic Sea, the Persian Gulf, and the Mediterranean.  "We are very pleased to have the opportunity to apply our extensive experience with multi-mission satellites and Ka-band communications to this new satellite for Telenor Satellite Broadcasting," said John Celli, president of Space Systems/Loral. "Our companies share a similar vision of the benefits of satellite communications for entertainment, economic improvement, and other vital services. We appreciate Telenor's confidence in our company to deliver this important satellite." Space Systems/Loral is the leader in putting broadband capacity in space, with a history of building Ka-band satellites since the 1970s. The company currently has seven satellites with Ka-band payloads under construction at its satellite manufacturing facility in Palo Alto, Calif. THOR 7 is scheduled to begin service in early 2014 and is designed to provide service for 15 years or longer. About Telenor Satellite Broadcasting AS Operating from the prime European orbital location of 1° West, Telenor Satellite Broadcasting (TSBc) provides extensive television broadcasting services for distribution and contribution applications to broadcasters, utilising a hybrid network that comprises terrestrial circuits, earth stations, and the satellite fleet. TSBc delivers end-user connectivity and broadband application services via satellite in Europe, the Middle East, and Africa and has also established inclined-satellite operations at the 4º West orbital position. Visit the company's website at www.telenorsbc.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. The Space Systems/Loral logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8824About 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 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 2010 annual report on Form 10-K filed March 15, 2011. 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 swings in the global financial markets, financial covenants in SS/L's credit agreement, increases in interest rates and access to capital; (2) risks associated with satellite manufacturing, including competition, cyclicality of SS/L's end-user markets, 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.CONTACT: Media Contact: Wendy Lewis Space Systems/Loral +1 (650) 852-5188