BEDMINSTER, NJ - June 9, 2003 - Loral Skynet, a subsidiary of Loral Space & Communications (NYSE: LOR), today announced that Marcelo Sant'Anna has been named general manager of Loral Skynet do Brasil. In this position, Mr. Sant'Anna will be responsible for managing Loral Skynet do Brasil's sales and marketing activities in Rio de Janeiro, Brazil. Mr. Sant'Anna will report to Bob Hedinger, executive vice president, sales, marketing and client services, Loral Skynet.

Mr. Sant'Anna, 36, most recently was general manager of Latin America for Terayon Communications Systems Inc., a terrestrial-based broadband equipment supplier, where he was responsible for business development and strategic marketing.

Before joining Terayon, Mr. Sant'Anna gained a variety of experience in both satellite and fiber services working for NEC do Brazil and Alcatel.

According to Hedinger, "The Latin American market has created a demand for satellite services that Loral Skynet do Brasil is positioned to meet with the upcoming launch of the Estrela do Sul 1 satellite. Mr. Sant'Anna's depth of experience in the satellite and telecommunications industries will provide strong in-country leadership for Loral's services in Brazil and Latin America."

Mr. Sant'Anna earned his MBA from Business School São Paulo, a masters in marketing administration from Instituto Paulista de Ensino e Pesquisa and a bachelor's degree in telecommunication and electrical engineering from the National Institute of Telecommunication.

Loral Skynet do Brasil, Ltd., a wholly owned subsidiary of Loral Space & Communications, is the first private Brazilian satellite company offering Ku-band services, formed primarily to address opportunities in the fixed satellite services market in Brazil and South America. Loral Skynet do Brasil's first satellite, Estrela do Sul 1, will be launched later this year into Brazil's 63 degrees West longitude orbital slot. The company has a ground station in Rio de Janiero that will provide tracking, telemetry, and control and access management from in-country technical staff. Loral Skynet do Brasil has access to a global fleet of satellites and terrestrial resources through the Loral Global Alliance.

A pioneer in the satellite industry, Loral Skynet continues to deliver the superior service quality and range of satellite solutions that have made it an industry leader for more than 40 years. Through the broad coverage of the Telstar and Loral Global Alliance satellite fleets, and in combination with its established hybrid VSAT/fiber global network infrastructure, Skynet offers a unique, single source for all broadcast, data network, Internet access, IP and systems integration needs. Headquartered in Bedminster, New Jersey, Skynet is dedicated to providing secure, high-quality connectivity and communications. For more information, visit www.loralskynet.com.

In addition to being the parent company of Loral Skynet, Loral Space & Communications is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications through its Space Systems/Loral subsidiary.

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 have been described in the section of the company's annual report on Form 10-K for the fiscal year ended December 31, 2002, 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.