Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (NASDAQ: LORL) and the leading provider of commercial satellites, today announced that it has been selected to provide a new communications satellite, named AsiaSat 5C, to Asia Satellite Telecommunications Company Limited (AsiaSat). AsiaSat 5C will serve as a backup for AsiaSat 5, which is currently being built by Space Systems/Loral and is scheduled for launch in the third quarter of 2009. AsiaSat 5 will replace AsiaSat 2 at the orbital location of 100.5 degrees East.

“Our focus on high quality and reliable service is something that we share with Space Systems/Loral,” said Peter Jackson, Chief Executive Officer of AsiaSat. “The AsiaSat 5C procurement program ensures the continuity of service to our AsiaSat 2 customers in the event of a launch failure of AsiaSat 5.”

The spacecraft is based on Space Systems/Loral’s 1300 satellite bus, with performance similar but not limited to that of AsiaSat 5 designed for the provision of fixed satellite services for television broadcast, telephone networks, and VSAT networks for broadband multimedia services across the Asia Pacific.

“We are very pleased to be selected once again to provide AsiaSat with a satellite that will reinforce its existing services to crucial communications networks in Asia,” said John Celli, president and chief operating officer of Space Systems/Loral.

About AsiaSat
AsiaSat, the leading regional satellite operator in Asia, serves over two-thirds of the world's population with its three satellites, AsiaSat 2 at 100.5ºE, AsiaSat 3S at 105.5ºE and AsiaSat 4 at 122ºE. The AsiaSat satellite system provides services to both the broadcast and telecommunications industries. Some 300 television channels are now delivered by the company's satellites, reaching over 96 million households, with more than 360 million viewers across the Asia Pacific region. Many telecommunications customers use AsiaSat for services such as public telephone networks, private VSAT networks and broadband multimedia services. It is a wholly-owned subsidiary of Asia Satellite Telecommunications Holdings Limited, a company listed on The Stock Exchange of Hong Kong Limited (SEHK: 1135).

About Space Systems/Loral
Based in Palo Alto, California, SS/L designs and builds satellites and spacecraft systems for commercial and government customers around the world. As the leading provider of commercial satellites, the company works closely with satellite operators to deliver spacecraft for a broad range of services including direct-to-home television, digital audio radio, broadband Internet, and digital multimedia broadcasting. With more power on orbit than any other satellite manufacturer, SS/L helps customers meet business objectives with advanced solutions based on space-proven heritage designs.

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 Canada, one of the world's largest providers of satellite services. Telesat Canada 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.