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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (4649)	9/28/1998 4:53:00 PM
From: Valueman	Read Replies (2) \| Respond to of 10852

Not such a bad reason for the T6 delay--it also avoids the Leonids completely: Loral Skynet Extends Testing Period On Telstar 6 Satellite NEW YORK--(BUSINESS WIRE)--Sept. 28, 1998-- Company Postpones Launch to End of November Loral Space and Communications announced today that the launch of Loral Skynet's Telstar 6 broadcast video and data communications satellite scheduled for launch October 15, 1998, on a Proton rocket has been postponed and is expected to be rescheduled for the end of November. Space Systems/Loral (SS/L), the satellite manufacturer, was notified by component provider AEG of Germany that the traveling wave tubes (TWTs) in the satellite assembly may be susceptible to thermally induced fatigue, requiring several weeks for tube modification and additional testing prior to launch of the satellite. Modifications to the TWTs on the Telstar 6 satellite, currently at the Proton launch base in Baikonur, will be undertaken at the site. Pending final confirmation from launch provider International Launch Services (ILS) and successful modification and re-testing of the TWTs, the company expects to launch Telstar 6 in late November. "We believe it is prudent to stand down temporarily from the scheduled launch of Telstar 6 until we are certain that the satellite meets all specifications," stated Terry Hart, president, Loral Skynet. "This delay will not affect our ability to continue to meet commitments to our customers for satellite transmissions." The satellites in Loral Skynet's current constellation, Telstar 4 and Telstar 5, are equipped with a different version of the traveling wave tubes and are operating normally. Telstar 6, which carries a total of 52 transponders -- 24 at C-band and 28 at Ku-band -- will be one of the most sophisticated and powerful communications satellites available to broadcasters and program distributors in North America, covering the 50 United States, Puerto Rico, the Caribbean, and parts of Canada and Latin America. The state-of-the-art Telstar 6 satellite will provide Loral Skynet's broadcasting, education and news gathering customers with the clearest, and most interference-free broadcast video and data communications transmissions available in the industry today. 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 formatting, Internet connectivity and international direct-to-home satellite services. For more information, visit Loral's web site at 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 period ended December 31, 1997, entitled "Certain Factors That May Effect Future Results." The reader is specifically referred to these documents regarding the factors and conditions that may effect future results. CONTACT: Loral Space & Communications, New York Jeanette Clonan, (212) 338-5658 KEYWORD: NEW YORK BW1755 SEP 28,1998 13:44 PACIFIC 16:44 EASTERN