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Loral Skynet to Provide Hearst-Argyle Television With Customized Satellite Based Solutions.

Business & Technology Editors

BEDMINSTER, N.J.--(BUSINESS WIRE)--April 8, 2002

Skynet and Hearst-Argyle agreement includes digital satellite

newsgathering and a customized "centralcasting" solution

Loral Skynet, a subsidiary of Loral Space & Communications (NYSE:LOR), today announced a professional services agreement with Hearst-Argyle Television, Inc. (NYSE: HTV) to plan and design a custom digital satellite newsgathering (DSNG) platform for Hearst-Argyle on Skynet's Telstar 6 satellite. Loral Skynet and Hearst-Argyle will use this agreement as a basis for introducing new applications including centralcasting.

Loral Skynet's Professional Services team will provide Hearst Argyle with a customized digital SNG service featuring dedicated transponder service, satellite access management, and a team of operations professionals to monitor and control the service from Skynet's Hawley, Pennsylvania earth station.

In addition, Loral Skynet and Hearst Argyle have agreed to begin development of an innovative centralcasting solution for Hearst-Argyle's television stations called Hearst-Argyle Net. This custom application will centralize various activities for Hearst-Argyle, including monitoring, program operations, resource management, and production.

"Our initial agreement and growing relationship with Hearst-Argyle takes full advantage of Skynet's Professional Services capabilities," said Terry Hart, president, Loral Skynet. "Digital SNG and centralcasting will enable Hearst-Argyle to successfully and efficiently serve geographically diverse U.S. markets."

Martin Faubell, vice president of engineering, Hearst-Argyle Television, stated, "Hearst-Argyle Television is pleased to partner with Loral Skynet on the development and implementation of a satellite based, content sharing solution which will support a diverse array of uses throughout our company. We look forward to working with Loral Skynet to develop these opportunities and to bring new efficiencies to our group of broadcast properties.

"Hearst-Argyle Net will provide us with a cost effective solution for network programming, content distribution and station operational efficiency. Loral Skynet is delivering a fast, flexible and scalable solution that is customized to fit our needs."

In 2002, Loral Skynet created two new product lines to complement its existing core satellite services. Skynet Network Services offers gateway access services and transmission platforms that enable rapid and reliable distribution of content. Skynet Professional Services offers a wide range of customized business solutions, including satellite management and satellite-based transport services.

Hearst-Argyle Television, Inc. owns 24 television stations, and manages an additional three television and two radio stations, in geographically diverse U.S. markets. The Company's television stations reach about 17.5% of U.S. TV households, making it one of the two largest U.S. television station groups not primarily aligned with a single network, as well as one of the seven largest television groups overall as measured by audience delivered. For more information, visit Hearst-Argyle's Web site at www.hearstargyle.com.

Loral Skynet of Bedminster, N.J., a subsidiary of Loral Space & Communications, is a leading satellite communications services provider that operates the Telstar satellite fleet. This fleet provides C-band and Ku-band coverage for over 85% of the world's population. Customers lease transponder capacity to distribute network television programming, to collect live video feeds for the reporting of news and events, to provide Internet connectivity to Internet Service Providers and other users, and to offer direct-to-home and pay-per-view programming for distance learning, educational, and other business television services. Loral Skynet is a member of the Loral Global Alliance, which includes Europe*Star, Loral Skynet do Brasil, Stellat, and Satmex. For more information, visit Loral Skynet's web site at www.loralskynet.com.

Loral Space & Communications is a high technology company that concentrates primarily on satellite-based services and satellite manufacturing, including broadcast transponder leasing and value added services, domestic and international corporate data networks, broadband data transmission and Internet services. For more information, visit Loral's Web site at www.loral.com.

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, from time to time, Loral Space & Communications Ltd. or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings made by the company with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions. These factors and conditions have been described in the section of the company's annual report on Form 10-K for the fiscal year ended December 31, 2001, entitled "Certain Factors That May Affect Future Results," and the company's other filings with the Securities and Exchange Commission. The reader is specifically referred to these documents regarding the factors and conditions that may affect future results.
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Date:Apr 8, 2002
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