Space Systems/Loral Delivers Advanced WildBlue-1 Broadband Communications Satellite to Launch Base

Built for WildBlue Communications, All Ka-Band Satellite Will Provide Additional Capacity for Broadband Internet Access to Rural America

Palo Alto, CA - November 9, 2006 —Space Systems/Loral (SS/L), the world's leading provider of commercial satellites, today announced that it delivered WildBlue-1 to the Arianespace spaceport in Kourou, French Guiana , where it is scheduled for launch in early December. Built for WildBlue Communications, Inc., a provider of satellite broadband access for rural areas, small cities, and locations with limited existing broadband infrastructure, the satellite will enable WildBlue to triple its customer capacity in the United States. Space Systems/Loral is a subsidiary of Loral Space & Communications (NASDAQ: LORL).

"We knew Space Systems/Loral had the right combination of experience and technology to provide us with an advanced, high-power satellite," said David Leonard, chief executive officer of WildBlue Communications, Inc. "WildBlue-1 will help the company keep pace with our rapidly increasing customer demand.  We are confident of the value and reliability that WildBlue will experience from working with the leader in commercial satellite manufacturing."

WildBlue-1 is one of the world's first commercial all Ka-band satellites, which takes advantage of a different portion of the radio spectrum with substantially more capacity than is available in the Ku-band, a more common frequency used for satellite communications. The technically advanced spacecraft is designed to provide fast and affordable two-way wireless Internet access via satellite directly to homes and small offices in communities throughout the contiguous United States where terrestrial broadband access alternatives are either limited or unavailable.

"Throughout the WildBlue-1 project, our companies shared a commitment to teamwork and quality," said John Celli, president of Space Systems/Loral.  "WildBlue is a bellwether for the success of broadband services via satellite. The new satellite delivered today demonstrates how an innovative and flexible satellite design, which meets some very unique technical requirements, can continue to broaden the world's ability to communicate."

Space Systems/Loral is a premier designer, manufacturer, and integrator of powerful satellites and satellite systems. SS/L also provides a range of related services that include mission control operations and procurement of launch services. Based in Palo Alto, Calif., the company has an international base of commercial and government customers whose applications include broadband digital communications, direct-to-home broadcast, defense communications, environmental monitoring, and air traffic control. SS/L satellites have amassed more than 1,300 years of reliable on-orbit service. SS/L is ISO 9001:2000 certified. For more information, visit www.ssloral.com.

Loral Space & Communications is a satellite communications company. In addition to Space Systems/Loral, through its Skynet subsidiary Loral owns and operates a fleet of telecommunications satellites used to broadcast video entertainment programming, and for broadband data transmission, Internet services and other value-added communications services. For more information, visit Loral's web site at www.loral.com.

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This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, Loral Space & Communications Inc. or its 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, press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions. Many of these factors and conditions are described under the caption "Risk Factors" in each of the company's annual report on Form 10-K for the fiscal year ended December 31, 2005 and its quarterly reports on Form 10-Q for subsequent periods. The reader is specifically referred to these documents, as well as the company's other filings with the Securities and Exchange Commission.