Loral Confirms Echostar Offer

SPACEMART

Echostar moves to expand its satellite interests

New York - Aug 19, 2003
Loral Space & Communications has confirmed that, in addition to reaching agreement with Intelsat on July 15, 2003 for the sale of Loral's six North American satellites, Loral has received an informal offer for those assets from EchoStar Communications Corp., subject to due diligence.

EchoStar also has indicated an interest in acquiring the balance of Loral's FSS fleet and its satellite manufacturing assets.

Consistent with the bidding procedures approved by the Bankruptcy Court on August 18, 2003, Loral will evaluate any such bid it may receive from EchoStar in accordance with the bidding procedures.

Bernard L. Schwartz said, "EchoStar's interest reconfirms the value of the assets assembled by Loral over the years. We will consider all bids received very carefully, noting that our current plan is to emerge from the bankruptcy process with a viable, ongoing satellite services and manufacturing business."

SPACEMART

Loral-Built Echostar IX/Telstar 13 Multi-Band Satellite Launched

New York - Aug 11, 2003
EchoStar IX/Telstar 13, a powerful multi-band satellite built for EchoStar Communications Corporation and Loral Skynet by Space Systems/Loral (SS/L), was successfully launched August 7 at 11:31 pm EDT. The satellite, to be positioned at 121 degrees West longitude, was sent into space from the Odyssey Launch Platform, positioned on the Equator in the Pacific Ocean, on a Sea Launch Zenit-3SL rocket.