<PAGE> 1
Rule 424(b)(3)
Registration No. 333-26517
LORAL SPACE & COMMUNICATIONS LTD.
PROSPECTUS SUPPLEMENT NO. 3 DATED OCTOBER 6, 1997
TO PROSPECTUS DATED JULY 11, 1997
The Selling Holders table on pages 7-10 of the Prospectus is hereby
amended to update the information regarding the following entities and their
respective number of shares of Preferred Stock and Common Stock:
<TABLE>
<CAPTION>
Number of Shares of Number of Shares of
Preferred Stock Common Stock
---------------- ------------
<S> <C> <C>
Selling Holders
- ---------------
Goldman, Sachs & Co. . . . . . . . . . . . . . . . . . . . . . . . . . 125,000 312,500
Q Investments, L.P. . . . . . . . . . . . . . . . . . . . . . . . . . . 38,250 95,625
Highbridge Capital Corporation, with Amalgamated Gadget,
L.P., as Agent . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,750 21,875
R2 Investments, LDC . . . . . . . . . . . . . . . . . . . . . . . . . 3,000 7,500
</TABLE>