From its 110° West longitude orbital position, EchoStar VIII's spot-beams will allow a more efficient use of spectrum, enabling EchoStar to expand its DISH Network local-into-local satellite TV service and increase in-orbit backup capacity. The successful launch of EchoStar VIII brings EchoStar's fleet to eight satellites, including two satellites previously built by SS/L.

EchoStar VIII is designed to operate in several different payload modes using national and spot beams.

The spacecraft is based on SS/L's space-proven 1300 geostationary satellite platform. The 1300, which has an excellent record of reliable operation, is designed to achieve a long useful life, in this case 15 years, excellent station-keeping, and orbital stability by using bipropellant propulsion and momentum-bias systems. Solar arrays and batteries provide uninterrupted electrical power. In all, SS/L satellites have amassed a total of more than 900 years of on-orbit service.

The Companies

EchoStar Communications Corporation and its DISH Network satellite TV system provide over 500 channels of digital video and CD-quality audio programming, as well as advanced satellite TV receiver hardware and installation services nationwide. EchoStar is included in the Nasdaq-100 Index (NDX). DISH Network currently serves over 7.46 million customers. For more information, visit www.dishnetwork.com.

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, including mission control operations and procurement of launch services. Based in Palo Alto, Calif., the company has an international base of commercial and governmental customers whose applications include broadband digital communications, direct-to-home broadcast, defense 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 high technology company that concentrates primarily on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value-added services, domestic and international corporate data networks, broadband data transmission, and Internet services.

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, from time to time, Loral Space & Communications Ltd. or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements 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. These factors and conditions have been 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 regarding the factors and conditions that may affect future results.