Loral Space & Communications to Host Second Quarter Results Conference Call

Loral Space & Communications Ltd. (NYSE: LOR)
invites shareholders, analysts and professional investors to participate in
a conference call with Loral chairman and chief executive officer, Bernard
L. Schwartz, to discuss Loral’s second quarter 2002 results, which will be
announced prior to the market opening on July 31, 2002.

The call will begin at 11:00 a.m. EDT on Wednesday, July 31, 2002.

To participate, please dial (913) 981-4910 approximately 15 minutes prior to
the scheduled start of the call.

A listen-only simulcast of the call may be accessed on the Internet at
www.loral.com.

If you are unable to listen to the call, a replay will be available
beginning at 2:00 p.m. EDT on July 31 through 8:00 p.m. EDT on August 7, by
dialing (719) 457-0820, access code: 751392. The web cast will be available
on Loral’s web site through August 7, 2002.