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Press release from GlobeNewswire (a Nasdaq OMX company)

Space Systems/Loral Expands Senior Management Team to Accommodate Business Growth

Wednesday, August 03, 2011

Space Systems/Loral Expands Senior Management Team to Accommodate Business Growth08:00 EDT Wednesday, August 03, 2011PALO ALTO, Calif., Aug. 3, 2011 (GLOBE NEWSWIRE) -- Space Systems/Loral (SS/L), the world's leading provider of commercial satellites, today announced that it has expanded its senior management team in order to accommodate increased business and prepare for further growth. David Bernstein was named Senior Vice President of Program Management and Paul Estey was named Senior Vice President of Engineering, Manufacturing and Test Operations. Both join the senior executive committee that drives the company's direction and recently achieved the status of Top Performing Company in its revenue category from "Aviation Week" magazine. With Mr. Bernstein's appointment, the company has separated the Program Management organization from the previously combined organization with Systems Engineering. Chris Hoeber, who managed the combined organization, will now focus his efforts on the expanded Systems Engineering, Research and Development, and Advanced Programs organizations. Mr. Bernstein has worked for SS/L for 14 years and was most recently Senior Executive Director for the company's SES programs. Before that he was Executive Director, Spacecraft Systems Engineering. He worked at TRW before he joined SS/L and holds a Bachelor's Degree and Master's Degree from Massachusetts Institute of Technology. Mr. Bernstein has consistently proven his leadership capabilities through the successful management of some of SS/L's most challenging programs. He successfully managed numerous technology developments that were eventually incorporated on the industry's first dedicated broadband satellite, which he managed through design, manufacturing and launch operations.  He brings a dedicated customer focus and very strong systems engineering capabilities to the new role and has most recently managed the completion of three large and complex satellites for SES. Dr. Estey takes over the leadership role for Engineering, Manufacturing and Test Operations from Christian Goodman, who retired from the company at the end of July after 25 years of dedicated service. Dr. Estey has worked at SS/L for 13 years and was previously Executive Director of Bus Subsystems Operations. Before joining SS/L he worked at TRW. He holds a Master's degree from Massachusetts Institute of Technology and a PhD from Stanford University. Dr. Estey brings very strong management skills and extensive experience in systems engineering, product design, manufacturing and test to his new role. Over the past several years, as the Executive Director of Bus Subsystems Operations, Dr. Estey was responsible for the implementation of a series of productivity improvements that have driven the company to the top of its class in productivity.  "As our business continues to grow, I depend on the leadership of seasoned professionals such as David, Paul and Chris, for focused program management, and to manage the increasing complexity involved in providing our customers with the world's best technical solution," said John Celli, president of Space Systems/Loral. "I am extremely confident in the skills and experience of our senior management team and look forward to our continued success in helping satellite operators meet the ever increasing demand for communications systems." The senior executive committee at Space Systems/Loral includes, John Celli, president; Ron Haley, senior vice president and chief financial officer; Arnold Friedman, senior vice president of Marketing and Sales; Chris Hoeber, senior vice president of Systems Engineering; Paul Estey, senior vice president of Engineering, Manufacturing and Test Operations; David Bernstein, senior vice president of Systems Engineering; John Rakow, senior vice president of Business and Legal Affairs; Larry Wray, vice president of Product Assurance; and Valerie Jünger, vice president of Human Resources. Photos available upon request.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 Form 10-Q filed on May 9, 2011 quarterly report and the 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