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Telesat Agrees to Acquire Canadian Payload of ViaSat-1 Ka-band Satellite from Loral

Payload is contracted to Barrett Xplore, a longstanding Telesat customer and leading wireless broadband provider in Canada

OTTAWA, CANADA, March 3, 2011 – Telesat announced today that it has concluded an agreement with Loral Space & Communications Inc. to acquire the Canadian payload of the ViaSat-1 satellite. Telesat will assume the fifteen year contract Barrett Xplore Inc. has previously entered into for this payload to provide broadband services in rural Canada.

ViaSat-1 is being built by Space Systems/Loral and is expected to be launched in the summer of this year. Its Canadian payload will offer a significant increase in broadband capacity over existing satellites and expand the quality and availability of high-speed communications services to Canadians.

“The capabilities of ViaSat-1 are ideally suited to meet the strong demand for broadband services to rural Canada,” said Dan Goldberg, Telesat’s President and CEO. “Barrett Xplore has been a pioneer and leader in bringing affordable, reliable and high quality broadband services to rural Canadians, and Telesat is pleased to support them with our investment in ViaSat-1, enabling these communities to realize even greater benefits from advanced broadband services.”

About Telesat (www.telesat.com)

Telesat is a leading global fixed satellite services operator providing reliable and secure satellite-delivered communications solutions worldwide to broadcast, telecom, corporate and government customers. The company has a state-of-the-art fleet of 12 satellites with three more under construction in addition to the Canadian payload on the ViaSat 1 satellite, and manages the operations of additional satellites for third parties. Telesat is headquartered in Ottawa, Canada, with offices and facilities around the world. Privately held, its principal shareholders are Canada’s Public Sector Pension Investment Board and Loral Space & Communications Inc. (NASDAQ: LORL).

Forward-Looking Statements Safe Harbor

This news release contains statements that are not based on historical fact and are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “anticipate”, “will”, “believes” or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. Detailed information about some of the known risks and uncertainties is included in the “Risk Factors” section of Telesat Canada’s Annual Report on Form 20-F for the fiscal year ended December 31, 2010 filed with the United States Securities and Exchange Commission (SEC) which can be obtained on the SEC’s website at http://www.sec.gov. Known risks and uncertainties include but are not limited to: risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance, volatility in exchange rates and risks associated with domestic and foreign government regulation. The foregoing list of important factors is not exhaustive. The information contained in this news release reflects Telesat’s beliefs, assumptions, intentions, plans and expectations as of the date of this news release. Except as required by law, Telesat disclaims any obligation or undertaking to update or revise the information herein.

For further information:                                                                               

Gerry Nagler, Telesat, +1 908 698-4907 (gnagler@telesat.com)

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