Loral To Seek Shareholder Approval Of Reverse Stock Split

SPACEMART

New York - Feb 21, 2003
Loral Space & Communications said Wednesday that it will seek shareholder approval to implement a reverse stock split at its annual meeting on May 29, 2003, in order to, among other things, restore the company's compliance with New York Stock Exchange share price requirements.

Loral meets all other criteria for continued listing on the Exchange, including having a market capitalization well in excess of the minimum required.

The reverse stock split ratio of new shares to existing shares will be established and detailed in a proxy statement to be mailed to shareholders several weeks before the annual meeting.

The date for determining shareholders of record entitled to receive notice of, and to vote at, the annual meeting is April 1, 2003. The reverse stock split transaction will be promptly enacted upon shareholder approval.

As of January 31, 2003, there were 430,798,402 million shares of Loral Space & Communications common shares outstanding. Loral's average daily trading volume in January was 2.3 million shares.

SPACEMART

Loral-Built Intelsat 907 Satellite Launched

Palo Alto - Feb 17, 2003
Intelsat 907, the latest in a long line of advanced communications satellites built for Intelsat by Space Systems/Loral, a subsidiary of Loral Space & Communications, was successfully launched at 2:00 a.m. EST Feb 15. The satellite was sent into space from the European Spaceport at Kourou, French Guiana, aboard an Ariane 44L launch vehicle.

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