updated 3/2/2011 11:16:28 AM ET 2011-03-02T16:16:28

PALO ALTO, Calif., March 2, 2011 (GLOBE NEWSWIRE) -- Space Systems/Loral (SS/L), the leading provider of commercial satellites, today announced that it was awarded a $1.5 million study contract by the U.S. Air Force Space and Missile Systems Center's MILSATCOM Systems Directorate to evaluate options available to meet future war fighting communications needs. SS/L will study how commercial technologies and best practices can fulfill military communications mission needs cost effectively while exceeding mission assurance requirements.





"Our goal is to make sure that our war fighters have state-of-the-art communications capabilities when and where they are needed and at a reasonable cost to the taxpayer," said Al Tadros, Vice President of Civil and DoD Business at Space Systems/Loral. "Commercial satellite production routinely provides high data rate multimedia services to fixed and mobile users on fast schedules, with economy of scale pricing, and exceptional reliability. The study results will further enable SMC to take advantage of these benefits on future MILSATCOM programs."

In 2010 the on-orbit fleet of approximately 60 SS/L-built geostationary satellites delivered better than 99.999 percent availability to its demanding commercial customers whose business cases depend on satellite reliability. The U.S. Air Force can also benefit from SS/L's experience building two of the world's highest capacity broadband satellites, each of which offers more than 100 gigabits per second throughput.

The Air Force Space and Missile Systems Center stated that the goal of the study is to assess the application of innovative and feasible commercial-like acquisition approaches to enhance affordability, reduce delivery time, and expand the space industrial base.

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=8824

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 Form 10-Q filed on November 4, 2010 and in the 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.

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

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