"For years, The SPACECONNECTION and Loral Skynet have worked together delivering syndicated television programming in the United States," said Terry Hart, president, Loral Skynet. "Skynet's traditionally strong broadcast and syndication neighborhoods on Telstar 5 and 6, which include major broadcasters like CBS and FOX, make it simple for key media outlets to receive programming from distributors like The SPACECONNECTION."

The SPACECONNECTION has seen a continual increase in its syndication services over the past several years and according to Robert M. Patterson, president and C.E.O., "This year will be SPACECONNECTION's best season ever for delivering programming to television stations around the world." Mr. Patterson continued that, "Loral Skynet's broadcast neighborhood offers SPACECONNECTION excellent coverage for our tens of thousands of programmable hours of entertainment, news, sports and syndication services annually."

The SPACECONNECTION will use capacity on Loral Skynet's Telstar 5 satellite, located at 97 degrees West longitude, and Telstar 6 satellite, located at 93 degrees West longitude. Both satellites carry a total of 52 transponders - 24 at C-band and 28 at Ku-band - and provide coverage of the continental United States, Hawaii, Alaska, Puerto Rico and the U. S. Virgin Islands. Telstar 5 and 6 host a variety of broadcast video, data, business television, Internet, DTH, and digital data applications.

Loral Skynet of Bedminster, New Jersey is a leading satellite communications services provider that offers its customers a complete portfolio of satellite transponder, networking and professional services from one source. Skynet operates one of the world's largest and fastest-growing fleets of telecommunications satellites, providing high-volume communications and data transmission services to broadcasting, cable TV, Internet and industrial companies around the world. Through its CyberStar unit's global IP multicast network and fiber assets, Skynet provides high-quality data, voice, video and Internet backbone connectivity services to multinational enterprises and service providers, including carriers and Internet service providers. The Telstar fleet of seven satellites covers the globe and will expand with the launch of four more satellites that are currently under construction. For more information on Loral Skynet and the Telstar fleet, visit www.loralskynet.com.

The SPACECONNECTION, Inc. provides transmission services for events such as: The Super Bowl, World Series, Winter and Summer Olympics, World Cup Soccer Matches, Space Shuttle Launches, in addition to tens of thousands of other events arranged each year. Its clients include the major television networks (i.e., ABC, CBS, FOX, NBC, PBS); cable programmers (e.g., CNN, HBO, MTV); plus services the educational, religious, government, business and entertainment industries. For more information visit their Web site at: www.thespaceconnection.com.

Loral Space & Communications is a high technology company that concentrates primarily on satellite-based services and satellite manufacturing, 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, 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.