Exhibit (a)(6)

                 [Loral Space & Communications Ltd. Letterhead]


TO:            [Employee Name]

FROM:          Patricia Rodenburg

DATE:          March 2003

RE:            Stock Option Exchange Offer


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Loral concluded its stock option exchange offer last week. The Letter of
Transmittal tendering your eligible options for exchange was accepted and, as a
result, your tendered stock options have now been cancelled. Based on the number
of eligible options that you tendered, you will receive a new grant totaling
______ shares, subject to adjustment as described below.

Your new option grant will be issued following expiration of the six-month
waiting period as described in the Offer to Exchange document. The exercise
price of your new options will be equal to the fair market value of Loral common
stock on the date the new option grant is issued. Your new options will vest and
become exercisable in three equal installments at the rate of one-third of the
shares underlying the new options on each of the first, second and third
anniversaries of the date of grant. These new options will expire ten (10) years
from the date of grant.

Promptly following the issuance of your new option grant, we will send you a new
option agreement, which will specify the number of new stock options that are
being issued to you and their exercise price. Please note that the number of new
options that you will receive as cited above is subject to adjustment if a stock
split, reverse stock split, stock dividend or similar event occurs between now
and the date the new option grant is issued to you. For example, Loral will seek
shareholder approval of a reverse stock split at its 2003 Annual Shareholder
meeting. If shareholders approve the reverse split, the number of new options
you are scheduled to receive will be reduced to give effect to the reverse stock
split.

Nothing in this memo should be construed to amend, and your participation in the
exchange offer remains subject to, the terms, conditions and limitations set
forth in the Offer to Exchange document you were provided, including the
requirement that you continue to be an employee on the date the new options are
issued.

If you have any questions about the exchange program, please call Jeanette
Clonan or John McCarthy at (212) 338-5670.