Space Systems/Loral Engineer Honored by SSPI

Dr. Max Kamenetsky is Named "Future Leader" for His Excellence in Driving Technology Developments

• Press Release
• Source: Loral Space & Communications, Inc.
• On 11:00 am EDT, Thursday October 1, 2009

PALO ALTO, Calif., Oct. 1, 2009 (GLOBE NEWSWIRE) -- Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (Nasdaq:LORL - News) and the leading provider of commercial satellites, today announced that one of its engineers, Dr. Max Kamenetsky, has been honored by the Society of Satellite Professionals International, for his leadership in driving technical developments. The award, which recognizes young and promising executives and leaders in the global satellite communications industry, will be presented at the annual Future Leaders Dinner, which takes place on October 13 in conjunction with Satellite Week in New York.

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"Max Kamenetsky was given extremely high points by our judging team of executives and volunteer leaders at SSPI," said Robert Bell, SSPI Executive Director. "This is the third year in a row in which an employee of Space Systems/Loral has won a Promise Award. It is a tribute to the depth of talent at the company and its commitment to keep attracting and nurturing the best and the brightest."

Kamenetsky, who received his Ph.D. in Electrical Engineering from Stanford University in 2005, has worked at Space Systems/Loral since February 2006. He is a key contributor to the company's enhanced payload features and total system solutions and has distinguished himself in his contribution to the development of a ground based beam forming system that is currently undergoing final testing and will be put into operation later this year.

"Max Kamenetsky is well-deserving of this recognition of his leadership ability and his achievements in helping to drive important technical developments," said John Celli, president and chief operating officer at Space Systems/Loral. "We are honored to have one of our young engineers receive this award for the third time in a row, but I am not surprised because I know that we have the best people in the industry working here. Congratulations to Max and this year's other Promise and Mentor award winners."

Since 2006, SSPI's Future Leaders Dinner has honored men and women under 35 with the talent and motivation to advance into leadership positions in the satellite industry, as well as one executive recognized for mentorship of the next generation. Now in its fourth year, the Future Leaders Dinner kicks off Satellite Week in NYC, which culminates in SATCON and the other events of Content and Communications World, including HD World and IP Media Expo. A portion of the proceeds from the dinner, which is held at New York's Princeton Club, go to SSPI's Educational Fund, which supports scholarships, internships and educational development partnerships with the university sector.

A photo accompanying this release is available at: http://ssloral.com/images/pressrel/max-kamenetsky.jpg

About SSPI

The Society of Satellite Professionals International is a nonprofit member-benefit society that serves satellite professionals throughout their working lives. With chapters in the Americas, the Middle East, Europe and Asia, SSPI works to attract new talent to the industry, helps satellite professionals advance in their careers, works to increase the professional standing of members and honors extraordinary achievement by satellite professionals and the companies for which they work.

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

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 annual report on Form 10-K and subsequent reports on Form 10-Q. The reader is specifically referred to these documents, 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.

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