NEW YORK - December 9, 2002 - Eric J. Zahler, president and COO of Loral Space & Communications (NYSE:LOR), will speak today at the Lehman Brothers 2002 T3 Telecom Trends and Technology conference.

Lehman Brothers' live web cast of Mr. Zahler's presentation (audio only) will begin at approximately 10:30 am EST and can be accessed by CLICKING HERE. A replay of the presentation will be available through Loral's web site for a limited time.

Information on the Lehman Brothers 2002 Global Wireless Conference is available on the Internet at http://www.lehman.com/conferences/2002_t3invite/static.htm.

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 for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring and air traffic management.

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.