Financials In For Telesat Canada

Telesat Canada has announced their unaudited financial results for the third quarter ending September 30, 2007. The company posted increases in both revenue and profitability. Telesat’s third quarter operating revenue of $130.4 million represented a 15 percent increase from $113.5 million in the same period of 2006. The company posted net earnings applicable to common shares of $26.4 million, 33 percent higher than the $19.8 million in the third quarter of 2006 as a result of higher revenues. Cash flows from operating activities were $74.7 million for the quarter compared to $47.6 million for the same period in 2006, an increase of $27.1 million or 57%. The increase is largely due to higher revenues and to lower cash payments for taxes in 2007. On October 5, 2007 Loral Space & Communications Inc. and Public Pension Investment Board received the final regulatory approval necessary to complete the acquisition of Telesat from BCE Inc. The transaction is expected to close on October 31, 2007—Ottawa, Ontario