LORAL NAMES MAC JEFFERY
SENIOR DIRECTOR, PUBLIC RELATIONS

NEW YORK, March 18, 1999 -- Loral Space & Communications (NYSE:LOR) announced today the appointment of Mac Jeffery as senior director, public relations. In this position, Mr. Jeffery will be responsible for external communications for Loral and its business units, including the planning and implementation of public relations programs. Based in Loral's New York City office, Mr. Jeffery will report to Jeanette Clonan, vice president, corporate communications and investor relations.

Mr. Jeffery, 43, joins Loral after 17 years with IBM Corporation. Since 1992, as Tokyo-based director of public relations for IBM Asia Pacific, he oversaw public relations activities in all 18 Asia Pacific country operations and all media relations for the IBM Asia Pacific organization.

Prior to 1992, Mr. Jeffery served in a series of increasingly responsible communications positions with IBM. Beginning in 1990, following a company restructuring of all corporate communications functions, Mr. Jeffery served as international corporate media relations coordinator. In this position, Mr. Jeffery set up information distribution and exchange procedures between IBM's corporate headquarters and major operations in over 130 countries, established working relationships with U.S.-based correspondents of major overseas media, and managed most U.S. media coverage of IBM's overseas operations.

Prior to joining IBM in 1982, Mr. Jeffery was employed by Hill + Knowlton's Asia operations in Hong Kong, as account representative, and before that by the Pepsi-Cola Company as assistant manager of marketing programs. A freelance writer, Mr. Jeffery has written pieces for The Wall Street Journal, Financial Times (London), Tokyo Journal and Harper's Bazaar.

Mr. Jeffery received a bachelor's degree in economics from Yale University.

Loral Space & Communications (NYSE:LOR) is a high technology company that primarily concentrates on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value-added services, domestic and international corporate data networks, global wireless telephony, broadband data transmission and content services, Internet services, and international direct-to-home satellite services.

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Contact: Jeanette Clonan
(212) 338-5658