Loral Expands Role of Dean A. Olmstead

NEW YORK, June 9, 2006/Satnews Daily/ ― Loral Space & Communications Inc. (NASDAQ:LORL) has entered into a consulting agreement with one of its directors, Dean A. Olmstead.

In addition to continuing his responsibilities as a member of Loral's board of directors, Olmstead, 50, will provide consulting services to Loral relating to the exploration of strategic and growth opportunities for Loral's satellite services businesses and the achievement of efficiencies across all of Loral's subsidiaries. Olmstead will report to Michael B. Targoff, chief executive officer, Loral Space & Communications.

“We are excited that Dean has accepted this additional, important responsibility and are confident that he can meaningfully advance Loral's objectives,” said Targoff. “Dean is a veteran and a visionary in the satellite industry and we are truly pleased to have him in this expanded role.”

In addition to his positions at Loral, Olmstead is chairman of the board of Satellite Development LLC. He was formerly president and chief executive officer of SES Americom and a member of the SES Global Executive Committee. He holds a B.S. degree in Economics-Mathematics from Western Washington University, an M.S. in Engineering Economic Systems from Stanford University and has completed Ph.D. studies in Economics at American University.

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