Loral-built DIRECTV-8 satellite succesfully launched

LORAL-BUILT DIRECTV 8 SATELLITE SUCCESFULLY LAUNCHED

PALO ALTO, Calif. - May 23, 2005 - DIRECTV 8, a high-power direct broadcast
satellite (DBS) built for The DIRECTV Group, Inc., El Segundo, Calif. by
Space Systems/Loral (SS/L), was successfully launched yesterday at 10:59 am
PDT. The satellite was sent into space from the Baikonur Cosmodrome in
Kazakhstan aboard a Proton M/Breeze M launch vehicle provided by
International Launch Services (ILS).
"Loral is proud to provide its fourth DIRECTV satellite designed to deliver
expanded services to DIRECTV's growing customer base," said Bernard L.
Schwartz, chairman and CEO, Loral Space & Communications. "SS/L's unique
ability to offer the most advanced and reliable satellites, using innovative
technologies, has won the confidence of operators like DIRECTV. This
state-of-the-art satellite was completed a full two months ahead of
schedule, an accomplishment rarely seen in the satellite industry, and we
look forward to continuing our strong relationship with DIRECTV as we
prepare to deliver DIRECTV 9S later this year for launch in 2006."

From its orbital slot at 101 degrees West longitude, the hybrid Ku/Ka-band
DIRECTV 8 satellite is designed to maintain high quality, high-power DBS
service to existing DIRECTV customers. The satellite will provide selectable
medium- and high-power Ku-band broadcast services to the U.S. on up to 16
high-power transponders, optimized to support the current and next
generation higher coding rate services that DIRECTV provides.

The Ka-band payload will use the full 1,000 MHz of Ka-band communications
bandwidth available to link DIRECTV facilities as part of DIRECTV's dramatic
infrastructure development for the upcoming launch of local digital and
high-definition services in the Ka-band.

DIRECTV 8 is designed to provide over 8,200 watts of DC power at the end of
its 12-year mission life. The satellite is based on SS/L's space-proven 1300
platform, which has an excellent record of reliable operation. Its high
efficiency solar arrays and lightweight batteries are designed to provide
uninterrupted electrical power. In all, SS/L satellites have amassed nearly
1,200 years of reliable on-orbit service.

DIRECTV is the nation's leading and fastest-growing digital multichannel
television service provider with more than 14.4 million customers. DIRECTV
and the Cyclone Design logo are registered trademarks of DIRECTV, Inc.
DIRECTV (NYSE: DTV) is a world-leading provider of digital multichannel
television entertainment services and is approximately 34 percent owned by
News Corporation. For more information, visit www.directv.com.

Space Systems/Loral, a subsidiary of Loral Space & Communications (OTCBB:
LRLSQ), is a premier designer, manufacturer, and integrator of powerful
satellites and satellite systems. SS/L also provides a range of related
services that include mission control operations and procurement of launch
services. Based in Palo Alto, Calif., the company has an international base
of commercial and governmental customers whose applications include
broadband digital communications, direct-to-home broadcast, defense
communications, environmental monitoring, and air traffic control. SS/L
satellites have amassed more than 1,100 years of reliable on-orbit service.
SS/L is ISO 9001:2000 certified. For more information, visit
www.ssloral.com.
Loral Space & Communications is a satellite communications company. In
addition to Space Systems/Loral, through its Skynet subsidiary, Loral owns
and operates a fleet of telecommunications satellites used to broadcast
video entertainment programming, and for broadband data transmission,
Internet services and other value-added communications services.

# # #
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.
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.

Contact:
John McCarthy
Loral Space & Communications
212/338-5345


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Jacques :-)

www.spacepatches.info