##### 



Exhibit 21

The active subsidiaries owned directly or
indirectly by Loral Space & Communications Ltd. as of
March 1, 2004, all 100% owned (except as noted below)
consist of the following:

|                                         |                                     |                                                   |                                         |                                         |                     |                   
|---------------------------------------- | ----------------------------------- | ------------------------------------------------- | --------------------------------------- | --------------------------------------- | ------------------- | ------------------
|Loral Space & Communications Corporation |                                     | Delaware                                         
|                                         | Loral SpaceCom Corporation          |                                                   | Delaware                               
|                                         |                                     | Loral Communications Services, Inc.               |                                         | Delaware                               
|                                         |                                     | Loral Ground Services, L.L.C.                     |                                         | Delaware                               
|                                         |                                     |                                                   | Earth Station Ecuador CIA Ltda.         |                                         | Ecuador            
|                                         |                                     |                                                   | Loralsat CIA Ltda.                      |                                         | Ecuador            
|                                         |                                     | Space Systems/Loral, Inc.                         |                                         | Delaware                               
|                                         |                                     |                                                   | International Space Technology, Inc.(1) |                                         | Delaware           
|                                         |                                     |                                                   |                                         | Cosmotech(1)                            |                     | Russian Federation
|                                         |                                     |                                                   | SS/L Export Corporation                 |                                         | U.S. Virgin Islands
|                                         | Loral Skynet International, L.L.C.  |                                                   | Delaware                               
|                                         | Loral Satellite, Inc.               |                                                   | Delaware                               
|                                         | Loral Orion, Inc.                   |                                                   | Delaware                               
|                                         |                                     | Loral CyberStar Global Services, Inc.             |                                         | Delaware                               
|                                         |                                     |                                                   | Loral CyberStar International, Inc.     |                                         | Delaware           
|                                         |                                     |                                                   |                                         | Tel-Link Communications Private Limited |                     | India             
|                                         |                                     | Loral CyberStar GmbH                              |                                         | Germany                                
|                                         |                                     | Loral CyberStar Japan, Inc.                       |                                         | Delaware                               
|                                         |                                     | ONS-Mauritius                                     |                                         | Mauritius                              
|                                         |                                     | Loral CyberStar Services, Inc.                    |                                         | Delaware                               
|                                         |                                     | Loral CyberStar Holdings, L.L.C.                  |                                         | Delaware                               
|                                         |                                     | Loral Asia Pacific Satellite (HK) Limited         |                                         | Hong Kong                              
|                                         |                                     | Loral CyberStar Americas do Brasil
    Ltda.      |                                         | Brazil                                 
|                                         |                                     |                                                   | Loral CyberStar Com do Brasil Ltda.     |                                         | Brazil             
|                                         |                                     | Loral CyberStar de Argintina SRL                  |                                         | Argentina                              
|                                         | Loral Skynet Network Services, Inc. |                                                   | Delaware                               
|                                         |                                     | Loral Skynet Network Services
    (Europe) Ltd.   |                                         | United Kingdom                         
|                                         |                                     | Loral CyberStar Data Services GmbH                |                                         | Germany                                
|                                         |                                     | Loral Skynet Network Services Holdings
    L.L.C. |                                         | Delaware                               
|                                         |                                     | Loral CyberStar Data Americas do Brasil
    Ltda. |                                         | Brazil                                 
|                                         |                                     |                                                   | Loral CyberStar Data do Brasil Ltda.    |                                         | Brazil             
|                                         | Loral Canada Inc.                   |                                                   | Delaware                               
|                                         | Loral General Partner, Inc.         |                                                   | Delaware                               
|                                         | Loral Holdings, Inc.                |                                                   | Delaware                               
|                                         | Loral Mexico Holdings L.L.C.        |                                                   | Delaware                               
|                                         |                                     | ATSS Mexico, Inc.                                 |                                         | Delaware                               
|                                         |                                     | ATSS/Loral Mexico, LP                             |                                         | Delaware                               
|                                         |                                     |                                                   |                                         | Mexico Satellite, LLC(3)                |                     | Delaware          
|Loral Holdings Ltd.                      |                                     | Bermuda                                          
|                                         | Loral Space do Brasil Ltda.         |                                                   | Brazil                                 
|                                         |                                     | Loral Skynet do Brasil Ltda.                      |                                         | Brazil                                 



---



##### 



|                           |                                |                         |                                 |          |         
|-------------------------- | ------------------------------ | ----------------------- | ------------------------------- | -------- | --------
|Loral CyberStar Ltd.       |                                | Bermuda                
|                           | Loral Broadband Holdings, L.P. |                         | Delaware                       
|                           |                                | Loral CyberStar, L.L.C. |                                 | Delaware
|                           |                                | CyberStar, L.P.         |                                 | Delaware
|                           |                                |                         | CyberStar Licensee, L.L.C.      |          | Delaware
|                           |                                |                         | CyberStar International, L.L.C. |          | Delaware
|                           |                                |                         | CyberStar Services, L.L.C.      |          | Delaware
|                           |                                |                         | CyberStar, L.L.C.               |          | Delaware
|Loral Global Services N.V. |                                | Netherlands Antilles   
|                           | Loral Global Services B.V.     |                         | Netherlands                    
|LGP (Bermuda) Ltd.         |                                | Bermuda                
|Loral Licensing Ltd.       |                                | Bermuda                
|                           | Loral Space Licensing Limited  |                         | Cyprus                         
|Loral Satmex Ltd.          |                                | Bermuda                
|Loral Satellite Ltd.       |                                | Bermuda                
|                           | Loral Skynet (IOM) Limited     |                         | Isle of Man                    

NOTES



|    |                                         
|--- | ----------------------------------------
|(1) | Only 47.7% Owned Directly or Indirectly 
|   
|(2) | Only 99.5% Owned Directly or Indirectly 
|   
|(3) | Only 77.78% Owned Directly or Indirectly