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NOTICE OF GUARANTEED DELIVERY
FOR
TENDER OF ALL OUTSTANDING
9 1/2% SENIOR NOTES DUE 2006
IN EXCHANGE FOR NEW
9 1/2% SENIOR NOTES DUE 2006
OF
LORAL SPACE & COMMUNICATIONS LTD.
As set forth in the Prospectus dated , 1999 (as the same may
be amended from time to time, the "Prospectus") of Loral Space & Communications
Ltd. (the "Company") under the caption "The Exchange Offer -- Guaranteed
Delivery Procedures," and in the accompanying Letter of Transmittal (the "Letter
of Transmittal") and Instruction 2 thereto, this form or one substantially
equivalent, must be used to tender any of the Company's outstanding 9 1/2%
Senior Notes due 2006 (the "Old Notes") pursuant to the Exchange Offer, if (i)
certificates representing the Old Notes to be tendered for exchange are not lost
but are not immediately available, (ii) time will not permit a Holder's Letter
of Transmittal, certificates representing the Old Notes to be tendered and all
other required documents to reach The Bank of New York (the "Exchange Agent")
prior to the Expiration Date with respect to the Exchange Offer, or (iii) the
procedures for book-entry transfer cannot be completed prior to the Expiration
Date. This form may be delivered by an Eligible Institution by mail or hand
delivery or transmitted, via manually signed facsimile, to the Exchange Agent as
set forth below.
Terms not otherwise defined herein shall have their respective meanings as
set forth in the Prospectus.
THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON
, 1999, UNLESS EXTENDED OR TERMINATED (THE "EXPIRATION DATE").
The Exchange Agent for the Exchange Offer is:
THE BANK OF NEW YORK
By Hand Or Overnight Delivery: Facsimile Transmissions: By Registered Or Certified Mail:
(Eligible Institutions Only) The Bank of New York
The Bank of New York (212) 571-3080 101 Barclay Street, 7E
101 Barclay Street Confirm by Telephone: New York, New York 10286
New York, New York 10286 (212) 815-6333 Attn: Reorganization Section
Corporate Trust Services Window For Information Call:
Ground Level (212) 815-6333
Attn: Reorganization Section
DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS
SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE TRANSMISSION TO A
NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY.
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LADIES AND GENTLEMEN:
The undersigned hereby tender(s) to the Company, upon the terms and subject
to the conditions set forth in the Prospectus and the Letter of Transmittal,
receipt of which is hereby acknowledged, the principal amount of Old Notes set
forth below pursuant to the guaranteed delivery procedures set forth in the
Prospectus under the caption "The Exchange Offer -- Guaranteed Delivery
Procedures."
The undersigned hereby represents and warrants that the undersigned has
full power and authority to tender the Old Notes. The undersigned will, upon
request, execute and deliver any additional documents deemed by the Exchange
Agent or the Company to be necessary or desirable for the perfection of the
undersigned's tender.
Tenders may be withdrawn in accordance with the procedures set forth in the
Prospectus. The undersigned authorizes the Exchange Agent to deliver this Notice
of Guaranteed Delivery to the Company and the Trustee as evidence of the
undersigned's tender of Old Notes.
All authority herein conferred or agreed to be conferred by this Notice of
Guaranteed Delivery shall survive the death or incapacity of the undersigned and
every obligation of the undersigned under this Notice of Guaranteed Delivery
shall be binding upon the heirs, personal representatives, executors,
administrators, successors, assigns, trustees in bankruptcy and other legal
representatives of the undersigned.
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PLEASE SIGN AND COMPLETE
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Signatures of Registered Holder(s) Date: --------------------------------------------------
or Authorized Signatory:
- -------------------------------------------------------- Address: -----------------------------------------------
- --------------------------------------------------------
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Name(s) of Registered Holder(s): Area Code and Telephone No.:
- -------------------------------------------------------- --------------------------------------------------------
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Principal Amount of Notes Tendered: If Notes will be delivered by book-entry transfer,
- -------------------------------------------------------- complete the following:
Depository Account No. ------------------------------
Certificate No.(s) of Notes (if available):
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This Notice of Guaranteed Delivery must be signed by the Holder(s) exactly as
their names appear on certificates for Old Notes or on a security position
listing as the owner of Old Notes, or by person(s) authorized to become
Holder(s) by endorsements and documents transmitted with this Notice of
Guaranteed Delivery. If signature is by a trustee, executor, administrator,
guardian, attorney-in-fact, officer or other person acting in a fiduciary or
representative capacity, such person must set forth his or her full title below
under "Capacity" and submit evidence satisfactory to the Company of such
person's authority to so act.
PLEASE PRINT NAME(S) AND ADDRESS(ES)
Name(s): ------------------------------------------------------------
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Capacity: ------------------------------------------------------------
Address(es): ------------------------------------------------------------
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DO NOT SET OLD NOTES WITH THIS FORM. OLD NOTES SHOULD BE SENT TO THE EXCHANGE
AGENT, TOGETHER WITH A PROPERLY COMPLETED AND VALIDLY EXECUTED LETTER OF
TRANSMITTAL AND ANY OTHER RELATED DOCUMENTS.
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GUARANTEE
(NOT TO BE USED FOR SIGNATURE GUARANTEE)
The undersigned, a member firm of a registered national securities exchange or of the National Association of
Securities Dealers, Inc. or a commercial bank or trust company having an office or correspondent in the United States,
hereby guarantees that, within three Nasdaq National Market trading days from the date of this Notice of Guaranteed
Delivery, a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof), together
with certificates representing the Old Notes tendered hereby in proper form for transfer (or confirmation of the book-entry
transfer of such Old Notes into the Exchange Agent's account at a Book-Entry Transfer Facility, pursuant to the procedure
for book-entry transfer set forth in the Prospectus under the caption "The Exchange Offer -- Book-Entry Transfer"), and any
other required documents will be deposited by the undersigned with the Exchange Agent at its address set forth above.
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Name of Firm: ----------------------------------------- ---------------------------------------------------------
(AUTHORIZED SIGNATURE)
Address: ------------------------------------------------
Name:------------------------------------------------
- -----------------------------------------------------------
Title:--------------------------------------------------
Area Code and
Telephone No.: ----------------------------------------- Date:--------------------------------------------------
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