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EXHIBIT 12



LORAL SPACE & COMMUNICATIONS
LTD.


COMPUTATION OF DEFICIENCY OF EARNINGS TO COVER
FIXED CHARGES

(in thousands)


(unaudited)


|                                                                                                                                                 |                                       |                   |          |         |  |   |          |         | 
|------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------------- | ----------------- | -------- | ------- |  | - | -------- | ------- | 
|                                                                                                                                                 |                                       |                  
|                                                                                                                                                 |                                       | Nine months ended
|                                                                                                                                                 |                                       | September 30,    
|                                                                                                                                                 |                                       |                  
|                                                                                                                                                 |                                       | 2001              |          | 2000   
|                                                                                                                                                 |                                       |                   |          |        
|Income (loss) before income taxes, equity in
	net loss of affiliates, minority interest and cumulative effect
	of change in accounting principle |                                       | $                 | (117,071 | )       |  | $ | 10,124   |        
|Plus fixed charges:                                                                                                                              |                                       |                   |          |         |  |   |          |        
|                                                                                                                                                 | Interest expense                      |                   |          | 158,058 |  |   |          | 137,075 | 
|                                                                                                                                                 | Interest component of rent expense(1) |                   |          | 13,363  |  |   |          | 11,010  | 
|Less: capitalized interest                                                                                                                       |                                       |                   | 16,938   |         |  |   | 11,489   |        
|                                                                                                                                                 |                                       |                   |          |         |  |   |          |        
|Earnings available to cover fixed charges                                                                                                        |                                       | $                 | 37,412   |         |  | $ | 146,720  |        
|                                                                                                                                                 |                                       |                   |          |         |  |   |          |        
|Fixed charges(2)                                                                                                                                 |                                       | $                 | (240,201 | )       |  | $ | (199,490 | )      
|                                                                                                                                                 |                                       |                   |          |         |  |   |          |        
|Deficiency of earnings to cover fixed charges                                                                                                    |                                       | $                 | (202,789 | )       |  | $ | (52,770  | )      
|                                                                                                                                                 |                                       |                   |          |         |  |   |          |        






|    |                                                                                                                                                                                                                     
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | The interest component of rent expense is deemed
	to be approximately 25% of total rent expense.                                                                                                                    
|(2) | Preferred dividends have not been adjusted for
	income taxes, due to the composition of the taxing jurisdictions
	underlying the Companys operations and the resulting
	impact on the Companys effective tax rate.