NEW YORK - February 1, 2002 - Loral Space & Communications (NYSE:LOR) announced today the election of Sally Minard to the company's board of directors.

Ms. Minard, 59, a prominent marketing and advertising executive throughout her 30-year business career, has been a leading advocate on public policy matters, including the advancement of women and family issues.

"We are very pleased to welcome Sally Minard to the Loral board," stated Bernard L. Schwartz, chairman and chief executive officer of Loral. "With her extensive experience in the fields of marketing communications and advertising, and her participation as a leader and supporter of many important public sector institutions, she brings an important, fresh perspective to the board's work."

In 1986, Ms. Minard co-founded Lotas Minard Patton McIver, an advertising and marketing communications firm that developed programs for companies and institutions, including New York Hospital Cornell Medical Center, Coty, Novogen, NYU Stern School of Business, Mead Johnson, Hearst Corporation and Proctor & Gamble. During her tenure at LMPM, Ms. Minard served for two years as president of Advertising Women of New York, and as director and treasurer of the American Association of Advertising Agencies. Prior to founding LMPM, Ms. Minard held management positions at Lord Geller Federico Einstein and Lintas.

Ms. Minard currently serves as a director of the American Red Cross (NY) and is co-chair of the Women's Leadership Forum of the Democratic National Committee. She previously served as president of the New York Women's Agenda. Ms. Minard received a bachelor's degree in history from Smith College, where she served as president of the student government. She resides with her family in New York City.

Loral Space & Communications is a high technology company that concentrates primarily on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value added services, domestic and international corporate data networks, broadband data transmission, content and Internet services.