NEW YORK, Sept. 20, 2008 (GLOBE NEWSWIRE) -- Loral Space & Communications Inc. (Nasdaq:LORL) today announced that Telesat, which is 64 percent owned by Loral and the world's fourth largest fixed satellite services operator, has successfully launched its state-of-the-art Nimiq 4 satellite. Nimiq 4 is fully leased to Bell TV, and will enable Bell TV to expand its advanced digital satellite television services over Canada by offering more HDTV, specialty channels and foreign-language programming.
Dan Goldberg, President and CEO of Telesat, stated, "Telesat's Nimiq 4 satellite underscores our commitment to bring the most advanced satellite services to consumers across Canada - and all over North America. Nimiq 4 will contribute significant revenue and EBITDA to our financial results and build on our longstanding relationship with Bell TV. We greatly value Bell TV's trust in Telesat and look forward to delivering outstanding quality and reliability for their customers over the life of the satellite."
Nimiq 4 will enter into commercial service after it has successfully completed orbit raising and comprehensive in-orbit testing. The satellite, which will be located at 82 degrees West, is equipped with 32 active high-power transponders in Ku-band and eight in Ka-band. The spacecraft has a solar array span of 39 meters, an expected 15-year mission life, and a launch mass of approximately 4850 kg.
About Telesat (www.telesat.com)
Headquartered in Ottawa, Canada, with offices and facilities around the world, Telesat is the fourth-largest fixed satellite services operator. The company provides reliable and secure satellite-delivered communications solutions to broadcast, telecom, corporate and government customers. Telesat now has a global state-of-the-art fleet of 13 satellites, with another two satellites under construction, and manages the operations of 13 additional satellites for third parties. Telesat is privately held. Its principal shareholders are Canada's Public Sector Pension Investment Board and Loral Space & Communications Inc. (Nasdaq:LORL).
About Loral Space & Communications
Loral Space & Communications is a satellite communications company. It 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. Loral also owns 64 percent of Telesat Canada, a global operator of telecommunications and direct broadcast satellites used to distribute video entertainment programming, broadband data, and provide access to Internet services and other value-added communications services. For more information, visit Loral's web site at www.loral.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 Inc. 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 from time to time with the Securities and Exchange Commission, and 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. Many of these factors and conditions are described under the caption "Risk Factors" in the company's annual report on Form 10-K for the fiscal year ended December 31, 2007 and in its subsequent reports on Form 10-Q. The reader is specifically referred to these documents, as well as the company's other filings with the Securities and Exchange Commission.