SOURCE: Loral Skynet

July 05, 2005 10:44 ET

Loral Skynet Enabled European Broadcast Distribution of Live 8 Concerts

Skynet Provided Siemens With Satellite Services on Telstar 12 for Live 8

BEDMINSTER, NJ -- (MARKET WIRE) -- July 5, 2005 -- Loral Skynet today announced that its Telstar 12 satellite, through an agreement with Siemens Business Services, served as the primary video distribution platform in Europe for last weekend's Live 8 concerts, featuring artists including Paul McCartney, Elton John, U2, Pink Floyd and Peter Gabriel, among others.

For this unique charity event, Telstar 12 was used to distribute the primary world feed, featuring coverage of all Live 8 concert sites, to broadcasters across Europe using the satellite's large and powerful European footprint. Loral's Telstar 12 also provided Ku-band contribution feeds from the concert site the Eden Project, Cornwall, UK, to Siemens at the BBC TV Centre for inclusion with the primary concert program.

"In addition to providing European media outlets with coverage of the UK concerts, Telstar 12's dynamic European beam also allowed viewers in South Africa access to this global event," said Patrick Brant, president of Loral Skynet. "Loral Skynet is pleased to have made available the resources of our European operations to Siemens, in supporting its customer, the BBC, for this unique, multi-regional event."

The Live 8 concert series, developed by Sir Bob Geldof to promote awareness of African poverty, occurred at multiple locations around the world on July 2. In addition to the UK, concerts were held in the United States, Canada, France, Germany, Italy, Russia and South Africa. More information about Live 8 is available on the Internet at www.live8live.com.

Telstar 12, located at 15 degrees West longitude, is a powerful Space Systems/Loral-built 1300 series satellite that provides Ku-band coverage of North and South America, Europe, the Middle East and South Africa. The satellite is the platform of choice for a wide array of commercial and government customers who require trans-Atlantic or regional coverage for video and data applications.

A pioneer in the satellite industry, Loral Skynet delivers 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 satellite fleet, in combination with its hybrid VSAT/fiber global network infrastructure, Skynet meets the needs of companies around the world for broadcast and data network services, Internet access, IP and systems integration. Headquartered in Bedminster, New Jersey, Loral Skynet is dedicated to providing secure, high-quality connectivity and communications. For more information, visit the Loral Skynet web site at www.loralskynet.com.

In addition to being the parent company of Loral Skynet, Loral Space & Communications (OTC BB: LRLSQ) 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. For more information, visit the Loral Space & Communications web site at www.loral.com.

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. These factors include those related to the filing, on July 15, 2003 by Loral and certain of its subsidiaries, of voluntary petitions for reorganization under chapter 11 of title 11 of the United States Code in the United States District Court for the Southern District of New York and parallel insolvency proceedings in the Supreme Court of Bermuda in which certain partners of KPMG were appointed as joint provisional liquidators. Under Loral's proposed Plan of Reorganization, the company's existing common and preferred stock will be cancelled and no distribution will be made to the holders of such stock. A hearing for the court to consider confirmation of the Plan is currently scheduled for July 13, 2005. Additional factors and conditions are also described in the section of the company's annual report on Form 10-K for the fiscal year ended December 31, 2004, entitled "Commitments and Contingencies," and the company's other filings with the Securities and Exchange Commission. The reader is specifically referred to these documents.

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