In a press lift, the partners initially face each other.  They clasp hands, then rotate such that the man's hands are "under" the lady's.  He presses her upwards while she takes off from ONE FOOT.  Her air position is free - in the lift pictured here she assumes a split position. The man's arms are fully extended and the partners maintain the hand to hand hold.

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In a loop press lift, the partners start out facing the same direction (just like in a loop lift).  The takeoff is from one foot, while the man presses upward.  Like the press lift, the air position is free.  Note however that in a loop press lift the lady and man will be facing the same direction while she is in the air.