<PAGE> 1
Rule 424(b)(3)
Registration No. 333-26517
LORAL SPACE & COMMUNICATIONS LTD.
PROSPECTUS SUPPLEMENT NO. 2 DATED SEPTEMBER 23, 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 Number of Shares
of Preferred of Common
Selling Holders Stock Stock
--------------- ----- ------
<S> <C> <C>
Donaldson, Lufkin & Jenrette Securities Corporation . . . . . . . . . . 11,800 29,500
Lazard Freres & Co. LLC . . . . . . . . . . . . . . . . . . . . . . . . 3,500 8,750
Equi-Select Total Return Portfolio . . . . . . . . . . . . . . . . . . 3,200 8,000
</TABLE>