Sirius Announces New Satellite Radio Products for Consumers

SPACEMART

New York - July 23, 2002
Sirius Satellite Radio said Monday that Panasonic Consumer Electronics Company (PCEC), will introduce Panasonic Sirius satellite receiver products for distribution in September.

Panasonic plans to market Panasonic Sirius satellite receiver products for distribution through retail stores, the commercial truck market and auto dealers across the country. Sirius and PCEC will each market Panasonic satellite radios through a variety of commercial programs, including advertising, retail and sales promotions.

The product line-up includes the CR-SRF 100 universal adaptor kit that enables any vehicle with an FM radio to receive the 60 commercial-free music and 40 news, sports and entertainment channels that Sirius broadcasts across the continental United States.

The line of top-quality Panasonic satellite radio products will provide the unique benefits of Sirius Satellite Radio, and such easy to use features as:

Panasonic/Sirius satellite receivers and adapter kits will be produced at Matsushita Communication Industrial Corporation of U.S.A.'s (MCUSA) world-class manufacturing facility located at Peachtree City, GA. The factory's production line will have an initial capacity of 350,000 units annually, which can be increased to more than one million units per year.

"Panasonic is one of the most recognizable brands in the world today," said Joseph P. Clayton, President and CEO of Sirius. "We are very excited about being associated with such a strong name, and are looking forward to bringing Panasonic branded satellite radio products to consumers across the United States."

"We believe there is a great market opportunity for Sirius Satellite Radio. Consumer demand is expected to grow dramatically over the next several years and Panasonic is committed to a leadership role in this new consumer electronics category," said Reid Sullivan, Vice President Merchandising, Entertainment Group, PCEC. "Our product selection, technology leadership and multi-faceted marketing programs are bound to increase awareness and enthusiasm for this exciting new product."

"Our satellite radio products will be built to the stringent requirements of both the automotive and retail channels of distribution, and will be highly valued by even the most demanding of consumers. We expect significant demand for these satellite radio products and for the Sirius service," said John B. Newman, Vice President, MCUSA.

"We're also very excited about the audio performance we are receiving from the Sirius system. The fidelity and clarity are far superior to what people are accustomed to in AM or FM radio. We're convinced that once you listen to Sirius on a Panasonic system, it will be hard to go back to regular radio."

SPACEMART

XM Radio Hits 136,500 Subs As GM Preinstalls On 25 Cars

Detroit - July 17, 2002
XM Satellite Radio ended the second quarter with more than 136,500 total subscribers -- most from retail sales -- exceeding most Wall Street projections. With XM's retail distribution rolling, General Motors is expanding factory installation of XM from the Cadillac DeVille and Seville to 23 additional GM models in the 2003 model year.

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