SPACE SYSTEMS/LORAL to build high-power satellite for SIRIUS SATELLITE RADIO

PALO ALTO, Calif. and NEW YORK.-Space Systems/Loral (SS/L) and SIRIUS Satellite Radio (NASDAQ:SIRI) today announced that SS/L has been awarded a contract from SIRIUS to build SIRIUS FM-6, a new, high-power satellite designed to operate in a highly inclined elliptical orbit (HIEO). This satellite will be the sixth SS/L-built spacecraft in the SIRIUS fleet. SS/L is a subsidiary of Loral Space & Communications (NASDAQ:LORL).

SIRIUS FM-6 will provide nearly double the power of the satellites in SIRIUS’ existing, in-orbit constellation, continuing to improve service for SIRIUS subscribers. Scheduled for completion in 2010, the new satellite will provide more than 15 years of service life. Sirius has not announced a launch provider for the new satellite.

The spacecraft design is based on SS/L’s 1300 space-proven platform, which provides the flexibility to accommodate a broad range of applications and technology advances. SIRIUS FM-6 will carry an X-band uplink and an S-band downlink payload. With almost 20 kilowatts end-of-life power, it will be one of the most powerful satellites being built today.

Space Systems/Loral built the existing fleet of satellites for SIRIUS, consisting of three in-orbit satellites and one ground spare currently in storage. A fifth satellite is currently under construction at SS/L and will provide enhanced performance and additional sparing capabilities from a geosynchronous orbit when it is launched in late 2008.

“We look forward to continuing our long relationship with SIRIUS on this new project,” said John Celli, president and chief operating officer of Space Systems/Loral. “SIRIUS provides compelling and entertaining radio programming that spans music, talk, sports, news and information. We believe that it is a tribute to our technology and customer oriented service that this company continues to select SS/L for its next generation satellites.”

SIRIUS FM-6 is SS/L’s fourth commercial satellite construction contract awarded to the company in 2007.