SOURCE: Space Systems/Loral

Space Systems/Loral

November 28, 2011 11:30 ET

Space Systems/Loral-Built AsiaSat 7 Successfully Performs Post-Launch Maneuvers

PALO ALTO, CA--(Marketwire - Nov 28, 2011) - Space Systems/Loral (SS/L) (NASDAQ: LORL), the world's leading provider of commercial satellites, today announced that the AsiaSat 7 satellite, designed and built for Asia Satellite Telecommunications Company Limited (AsiaSat), is performing post-launch maneuvers according to plan. The satellite was successfully launched on Friday from the Baikonur Space Center in Kazakhstan aboard an ILS Proton Breeze M vehicle provided by International Launch Services (ILS). The satellite deployed its solar arrays according to schedule following Friday's launch and it has begun firing its main thruster to complete its journey to geostationary orbit.

"We are very pleased to see AsiaSat 7 successfully launched ahead of schedule," said William Wade, President and Chief Executive Officer of AsiaSat. "This is the second SS/L-built satellite in our fleet. We have a very successful collaborative relationship with Space Systems/Loral and just announced the contract awards for two more satellites earlier this month."

AsiaSat 7 is a Fixed Satellite Services (FSS) spacecraft designed to replace AsiaSat 3S at the orbital location of 105.5 degrees East longitude where it will provide television broadcast and VSAT networks across the Asia-Pacific region.

"Both AsiaSat and Space Systems/Loral share a dedication to providing the highest quality of communications services to people throughout the world," said John Celli, President of Space Systems/Loral. "I would like to thank everyone at AsiaSat, ILS, and Space Systems/Loral whose hard work has led to this successful launch."

AsiaSat 7 carries a region-wide C-band beam covering Asia, the Middle East, Australasia and Central Asia, and Ku-band beams for East Asia, South Asia and a steerable Ku-beam in addition to a Ka-band payload. It is based on SS/L's highly reliable 1300 space-proven platform which provides the flexibility to support a broad range of applications and technology advances. The spacecraft is designed to deliver service for 15 years or more. With this launch, there are 67 SS/L-built 1300 satellites currently on orbit.

About AsiaSat
AsiaSat, the leading regional satellite operator in Asia, serves over two-thirds of the world's population with its four satellites, AsiaSat 3S at 105.5ºE, AsiaSat 4 at 122ºE, AsiaSat 5 at 100.5ºE and AsiaSat 7. The AsiaSat satellite fleet provides services to both the broadcast and telecommunications industries. Over 500 television and radio channels are now delivered by the company's satellites offering access to over 620 million TV households across the Asia-Pacific region. AsiaSat also provides telecommunications operators and end users services such as voice networks, private VSAT networks and broadband multimedia. AsiaSat has ordered two more satellites, AsiaSat 6 and AsiaSat 8, planned to be launched by early 2014. It is a wholly-owned subsidiary of Asia Satellite Telecommunications Holdings Limited, a company listed on The Stock Exchange of Hong Kong Limited (HKSE: 1135). For more information, please visit www.asiasat.com.

About Space Systems/Loral
Space Systems/Loral, a subsidiary of Loral Space & Communications (NASDAQ: LORL), has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. For more information, visit www.ssloral.com.

About Loral Space & Communications
Loral Space & Communications is a satellite communications company. Through its Space Systems/Loral subsidiary, the company 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. Loral also owns 64 percent of Telesat, one of the world's largest providers of satellite services. Telesat operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute direct-to-home video and broadband data services, and other value-added communications services. For more information, visit Loral's Web site at www.loral.com. LORL-G

This document contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will," "would," "could," "should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc., Space Systems/Loral, Inc. or their 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 from time to time with the Securities and Exchange Commission, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to the financial statements in Loral's 2010 annual report on Form 10-K filed March 15, 2011. The reader is specifically referred to this document, as well as the company's other filings with the Securities and Exchange Commission. Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including swings in the global financial markets, financial covenants in SS/L's credit agreement, increases in interest rates and access to capital; (2) risks associated with satellite manufacturing, including competition, cyclicality of SS/L's end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of our factory and personnel; (3) regulatory risks, such as the effect of U.S. export control and economic sanction laws; and (4) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral and SS/L operate in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the control of Loral and SS/L.