Telesat appoints new CFO

    Michel Cayouette brings over 15 years of telecom experience to
    Telesat's leadership team

    OTTAWA, Sept. 12 /CNW/ - Telesat Holdings Inc., the world's
fourth-largest satellite operator, announced today the appointment of Michel
Cayouette as the company's Chief Financial Officer. Mr. Cayouette brings to
Telesat more than 15 years of experience in the global telecommunications
industry, having held senior finance positions at companies in North America,
Europe and Asia.
    "I'm delighted that Michel is joining Telesat as our new CFO. Michel is a
seasoned, world class senior finance executive and I'm looking forward to
working closely with him and the rest of the Telesat team as we continue to
grow the company," said Dan Goldberg, Telesat's President and CEO.
    A chartered accountant and certified public accountant, Mr. Cayouette
held the CFO role at various companies, including Teleglobe Communications
Corporation, Orbcomm Global, TIW Asia, and FLAG Telecom. His past
responsibilities included finance, operations, business development, mergers
and acquisitions, and corporate strategy. A Montreal native, Mr. Cayouette
holds a Bachelor degree and a Master of Business Administration degree from
the University of Montreal (Ecole des Hautes Etudes Commerciales).
    "For me, joining Telesat is the best of both worlds: it's a company
that's both established and entrepreneurial - with a history of success and a
promising future," Mr. Cayouette said. He joins Telesat on September 17,
succeeding longtime CFO Ted Ignacy. Mr. Ignacy will remain with Telesat until
the end of October to ensure a smooth transition of responsibilities to Mr.
    "Ted has been with Telesat for 22 years and, over that period, has made
immense contributions to the company's development and progress. I'm grateful
for Ted's dedication and hard work and wish him much success in his next
endeavors," Mr. Goldberg said.

    About Telesat (

    Headquartered in Ottawa, Canada, with offices and facilities around the
world, Telesat is the fourth-largest fixed satellite services operator. The
company provides reliable and secure satellite-delivered communications
solutions to broadcast, telecom, corporate and government customers. Telesat
has a state-of-the-art global fleet of 12 satellites and three new satellites
under construction, and manages the operations of 13 other satellites for
third parties. Telesat is privately held. Its principal shareholders are
Canada's Public Section Pension Investment Board and Loral Space &
Communications Inc. (NASDAQ:  LORL).

For further information:

For further information: Karen Passmore or Kyla Thoms, Argyle
Communications, (416) 968-7311, ext 228 or 237,,

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