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XTAR SELECTS ARIANESPACE TO
LAUNCH THE XTAR-EUR SATELLITE
WASHINGTON, D.C. - December 18, 2003 -
XTAR, a joint venture between Loral
Space & Communications (OTCBB: LRLSQ) and HISDESAT,
S.A., today announced that it has entered into an agreement
with Arianespace to launch its XTAR-EUR satellite aboard an
Ariane 5 ECA launch vehicle. The XTAR-EUR satellite is now
undergoing final testing at Space
System/Loral (SS/L) in Palo Alto, CA. The launch of XTAR-EUR
is currently planned for early second quarter 2004.
With its launch arrangements and funding requirements secured,
XTAR expects to begin offering its X-band services to government
users in the United States, Spain, and other friendly and
allied nations in July 2004, shortly after launch and the
completion of in-orbit testing. Service will commence at the
highly desirable 29 degrees East Longitude orbital slot providing
a footprint extending from the Eastern Atlantic to Southeast
Asia.
Weighing 3,600 kilograms at launch, XTAR-EUR is based on
SS/L's space-proven 1300 platform and carries twelve wideband
and high-power X-band transponders. The satellite will feature
on-board switching and multiple steerable theater beams that
allow X-band capacity to follow its users as they travel anywhere
within the footprint of the satellite. XTAR-EUR is designed
to operate with existing and planned defense communications
terminals around the world.
XTAR, LLC is a new satellite communications company committed
to serving the needs of U.S., Spanish and allied governments.
The company is a joint venture between Loral, which owns 56
percent, and HISDESAT, which owns 44 percent. XTAR is headquartered
in Washington, D.C., and has offices in Madrid, Spain, and
Palo Alto, Calif.
HISDESAT Servicios Estratégicos S.A. is a Spanish
company headquartered in Madrid and incorporated in July 17th,
2001. HISDESAT's aims are the acquisition, operation and commercialization
of Government-oriented space systems, beginning with satellite
government communications in the X-band and Ka -band frequencies.
HISDESAT is owned jointly by Hispasat, S.A., the Spanish commercial
satellite services company, INSA (100% owned by INTA) and
the leaders of Spain's space industries: EADS-CASA Espacio,
INDRA and SENER. HISDESAT will provide enhanced capabilities,
including Ka-band, for Spain's defense applications.
Loral Space & Communications is a satellite communications
company. It owns and operates a global fleet of telecommunications
satellites used by television and cable networks to broadcast
video entertainment programming, and by communication service
providers, resellers, corporate and government customers for
broadband data transmission, Internet services and other value-added
communications services. Loral also 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.
For more information, visit Space Systems/Loral at www.ssloral.com.
# # #
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, 2002, entitled "Certain
Factors That May Affect Future Results," 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
212-697-1105
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