SOURCE: Space Systems/Loral

Space Systems/Loral

May 18, 2012 11:00 ET

Space Systems/Loral-Built Nimiq 6 Satellite Successfully Performs Post-Launch Maneuvers

PALO ALTO, CA--(Marketwire - May 18, 2012) - Space Systems/Loral (SS/L) (NASDAQ: LORL), the world's leading provider of commercial satellites, today announced that the Nimiq 6 satellite, designed and built for Telesat, one of the world's leading satellite operators, is successfully performing post-launch maneuvers according to plan. The satellite was successfully launched yesterday from the Baikonur Space Center in Kazakhstan aboard a Proton Breeze M launch vehicle provided by International Launch Services (ILS). The satellite deployed its solar arrays early this morning according to schedule, and tomorrow it will begin firing its main thruster to maneuver into geostationary orbit.

"It has been a privilege to work with Telesat on this high performance satellite that will provide advanced television services in Canada," said John Celli, President of Space Systems/Loral. "I'd like to congratulate the teams from ILS, Telesat, and SS/L who worked hard to make this launch a success."

Nimiq 6 is a state-of-the-art spacecraft that is fully contracted to Telesat's customer, Bell TV. It will provide a broad range of Direct-to-Home (DTH) services to Bell TV's subscriber base including high-definition and other specialty video offerings across Canada. It has 32 Ku-band transponders and will be positioned at 91.1 degrees West longitude.

"We are very pleased with Space Systems/Loral's strong execution on the Nimiq 6 satellite," said Dan Goldberg, President and Chief Executive Officer of Telesat. "Once in service, Nimiq 6 will provide Bell TV with improved performance to better serve its customer base across Canada."

Nimiq 6 is based on the highly reliable Space Systems/Loral 1300 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 68 SS/L-built satellites currently on orbit.

Another satellite for Telesat, Anik G1, is under construction at SS/L's Palo Alto, California manufacturing facility. It is scheduled to launch in the fourth quarter of this year.

About Telesat
Telesat is a leading global fixed satellite services operator providing reliable and secure satellite-delivered communications solutions worldwide to broadcast, telecom, corporate and government customers. Headquartered in Ottawa, Canada, with offices and facilities around the world, the company's state-of-the-art fleet consists of 13 satellites and the Canadian Ka-band payload on ViaSat-1, plus one satellite under construction. Telesat also manages the operations of additional satellites for third parties. Privately held, Telesat's principal shareholders are Canada's Public Sector Pension Investment Board and Loral Space & Communications Inc. (NASDAQ: LORL).

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. 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 2011 annual report on Form 10-K filed February 29, 2012. 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.