Telesat Holdings Announces Completion of the Redemption of Its Outstanding 12.5% Senior Subordinated Notes

Telesat Holdings Announces Completion of the Redemption of Its Outstanding
12.5% Senior Subordinated Notes

OTTAWA, May 1, 2013 (GLOBE NEWSWIRE) -- Telesat Holdings ("Telesat") announced
today that its wholly-owned subsidiaries, Telesat Canada and Telesat LLC (the
"Co-Issuers"), have completed the redemption of all of their outstanding 12.5%
Senior Subordinated Notes due 2017 (the "Senior Subordinated Notes") issued
under an indenture dated as of June 30, 2008.

The total aggregate redemption price paid in respect of the $217.1 million
principal amount of Senior Subordinated Notes that remained outstanding was
approximately $230.7 million, including approximately $13.6 million in respect
of the 6.25% call premium.The Co-Issuers financed the redemption using
cash-on-hand.

About Telesat (www.telesat.com)

Telesat is a leading global satellite operator, providing reliable and secure
satellite-delivered communications solutions worldwide to broadcast, telecom,
corporate and government customers. Headquartered in Ottawa, Canada, with
offices and facilities around the world, the company's state-of-the-art fleet
will grow to 14 satellites once Telesat's recently-launched Anik G1 satellite
is brought into service. The fleet today consists of 13 satellites plus the
Canadian payload on ViaSat-1. Telesat also manages the operations of
additional satellites for third parties. Privately held, Telesat's principal
shareholders are Canada's Public Sector Pension Investment Board and Loral
Space & Communications Inc. (Nasdaq:LORL).

CONTACT: For further information:
         Michael Bolitho
         Telesat
         +1 (613) 748-8700 ext. 2336
         ir@telesat.com