Loral Space And Communications To Trade On Nasdaq Under LORL

SPACEMART

New York NY (SPX) Dec 09, 2005
Loral Space & Communications has announced that its common stock began trading today (Thursday) on the NASDAQ National Market under the ticker symbol LORL.

The stock had previously been trading on a "when issued" basis on the over-the-counter market under the ticker LRALV. The closing stock price of LRALV on December 7, 2005 was $29.10.

The company issued 18.7 million shares, or approximately 94 percent, of the 20 million new shares of Loral Space & Communications Inc. common stock to be distributed in accordance with Loral's Plan of Reorganization.

Also in accordance with the Plan, Loral Skynet has issued 987,000 shares, or approximately 99 percent, of the Loral Skynet preferred stock to be distributed. It also has issued $126 million principal amount of Loral Skynet senior secured notes.

The balance of common and preferred stock is being held in reserve pending the resolution of the few outstanding claim issues that remain.

Copies of Loral's Plan of Reorganization, as confirmed, and its Disclosure Statement are available on the Loral website at www.loral.com.

Loral's prior common stock, which was previously listed on the over-the-counter market under the ticker LRLSQ, and Loral's prior preferred stock were each cancelled as of November 21, 2005.

Loral Space & Communications (NASDAQ: LORL) is a satellite communications company. It owns and operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute broadband data, and provide access to Internet services and other value-added communications services.