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Contact:
John McCarthy
Loral Space & Communications
212-338-5345

PHOTO RELEASE: SPACE SYSTEMS/LORAL-BUILT INTELSAT 907 READY FOR LAUNCH

PALO ALTO, CALIF. - February 10, 2003 - Space Systems/Loral (SS/L), a
subsidiary of Loral Space & Communications (NYSE: LOR), today 
announced that the Intelsat 907 communications satellite has been 
readied for its launch on February 12 from the European Spaceport at 
Kourou, French Guiana, aboard an Ariane 44L launch vehicle.

Photo is available at:
http://www.businesswire.com/cgi-bin/photoblob.sh?pw.021003/bb7

Intelsat 907, the latest in Intelsat's IX series of communications
satellites, is intended to serve the Americas, Europe and Africa from 
its orbital position at 27.5 degrees West longitude. The Intelsat IX 
satellites are some of the largest and most advanced built by SS/L to 
date. Intelsat 907, based on SS/L's space-proven 1300 satellite 
platform, is the thirty-first satellite SS/L has built for the global 
communications provider.

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 includes mission control 
operations and procurement of launch services. Based in Palo Alto, 
California, the company has an international base of commercial and 
governmental customers whose applications include broadband digital 
communications, direct-to-home broadcast, governmental communications, 
environmental monitoring, and air traffic control. SS/L is ISO 9001 
certified. For more information, visit www.ssloral.com.

Loral Space & Communications is a satellite communications company. It 
owns and operates a global fleet of telecommunications satellites used 
by television and cable networks to broadcast video entertainment 
programming, and by communication service providers, resellers, 
corporate and government customers for broadband data transmission, 
Internet services and other value-added communications services. Loral 
also is a world-class leader in the design and manufacture of 
satellites and satellite systems through its Space Systems/Loral 
subsidiary. For more information, visit Loral's web site at 
www.loral.com.

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 Ltd. 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 by the 
company 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 which are described 
in the section of the company's annual report on Form 10-K for the 
fiscal year ended December 31, 2001, entitled "Certain Factors That 
May Affect Future Results," and the company's other filings with the 
Securities and Exchange Commission. The reader is specifically 
referred to these documents.

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