[SatNews] Loral Space & Communications Inc. (Nasdaq:LORL) announced today that its wholly-owned subsidiary Space Systems/Loral, Inc. (SS/L) has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering. The filing contemplates the registration and offer to the public of up to 19.9 percent of SS/L's common stock; upon completion of the offering, Loral will continue to own the remainder of SS/L's common stock.

Funds raised in the offering will be used by SS/L for working capital and other general corporate purposes, including to finance further growth and expansion of SS/L's business. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. are joint book running lead managers for the offering. The public offering will be made only by means of a prospectus which, when available, may be obtained by writing or calling the prospectus department at Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, Level 1B, New York, NY 10010, telephone 800-221-1037 or J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, telephone 866-803-9204.