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Loral Announces Avi Katz Named as President, Treasurer Mastoloni to Leave

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Loral Space & Communications Inc. (NASDAQ: LORL) today announced that its board of directors has named Avi Katz, 53, to the role of president of the company. Mr. Katz, who replaces Michael Targoff, was formerly the company's senior vice president, general counsel and corporate secretary. The appointment comes as a result of the previously announced restructuring following last month's sale of the company's manufacturing division. Mr. Katz will also continue in his role as general counsel and secretary. Continuing the phased departures of senior executive officers, Richard Mastoloni will leave his role as senior vice president of finance and treasurer. He will, however, continue to serve the company as a consultant and will work with the board of directors and Mr. Targoff on strategic matters relating primarily to Loral's ownership interest in Telesat. John Stack, who served as assistant treasurer of Loral for more than ten years, has been named treasurer.

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