Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (Nasdaq: LORL) and the world's leading provider of high-power commercial satellites, today announced that it has been awarded a contract to manufacture a new spacecraft for SES NEW SKIES, a subsidiary of SES (Euronext Paris and Luxembourg Stock Exchange: SESG). Designed as the largest most powerful satellite in the SES fleet, NSS-14 expands and enhances the company's ability to provide Fixed Satellite Services (FSS) to the Americas, Europe, Africa and the Middle East.

NSS-14 is the second satellite contract that SES NEW SKIES has awarded to SS/L and it is designed to be located at 338 degrees East, one of the most highly demanded orbital locations for trans-Atlantic traffic. The spacecraft is a state-of-the-art, hybrid C- and Ku-band satellite that includes SS/L's heritage ion propulsion system and a 15 year design life.

"SES NEW SKIES and Space Systems/Loral share a fundamental commitment to quality and performance," said Robert Bednarek, president and chief executive officer of SES NEW SKIES. "With NSS-12 proceeding on track we are pleased to embark on another project with the company that is the high-power satellite leader."

Space Systems/Loral currently has six 20-kW satellites under construction that are based on its highly flexible 1300 satellite platform. The 1300 bus, which is the basis for both NSS-12 and NSS-14 features qualified, flight proven subsystems and a long record of reliable operation. In all, SS/L satellites have amassed more than 1,400 years of reliable on-orbit service.

"As the demand for ubiquitous communications continues to proliferate, we are pleased to work with one of the world's leading FSS operators to provide state of the art infrastructure," said John Celli, president and chief operating officer of Space Systems/Loral. "We look forward to this new project with SES NEW SKIES and to helping the company meet its high level of commitment to its customers."

NSS-14 has been specifically designed for its orbital location, with C-band beams serving the eastern hemisphere of Europe/Africa, full America's coverage as well as a Global beam to support mobile and maritime customers. Four high-power, regional Ku-band beams will provide service to Europe/Middle East, West Africa, North America and South America with extensive cross-strapping between C- and Ku-band transponders providing enhanced connectivity.

About SES NEW SKIES

SES NEW SKIES offers satellite communication services to a range of customers including telecommunications providers, broadcasters, corporations and governments around the world. SES NEW SKIES owns and operates a global fleet of seven satellites in orbit, with two additional spacecraft under construction (NSS-9 and NSS-12) and ground facilities around the world. Headquartered in The Hague, the company has offices in Beijing, Hong Kong, Johannesburg, Sao Paulo, Singapore, Sydney and Washington, D.C. In addition to SES NEW SKIES, SES wholly owns the market-leading satellite operators SES ASTRA in Europe and SES AMERICOM in North America and also holds strategic participations in SES Sirius in Europe, Ciel in Canada and Quetzsat in Mexico. SES provides outstanding satellite communications solutions via a global fleet of 38 satellites in 25 orbital locations. Further information on the company is available at and on SES at .

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 high-power 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 a 50-year history and more than 1,400 on-orbit years logged, SS/L helps customers meet business objectives with advanced solutions based on space-proven heritage designs. For more information, visit .

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 Canada, one of the world's largest providers of satellite services. Telesat Canada 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 .

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, 2006 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.