March 13, 2002
XM Satellite Radio, America's leading satellite radio service, announced today that participating Isuzu dealers will offer to install XM radios in Axiom and Rodeo models beginning in April 2002.
In addition, the company announced that Isuzu Motors America's Accessory Operations Department, working with TMI Inc., has designed and developed a mounting kit that allows all Isuzu Axioms and all 1998 and newer Isuzu Rodeos to be easily retrofitted with a Pioneer XM satellite radio. Pana-Pacific Corp., a national distributor of mobile and audio electronics, will exclusively distribute these XM Satellite Radio kits directly to Isuzu dealerships.
"We believe having direct access to XM Satellite Radio provides our dealerships with cutting-edge technology and an innovative advantage over our competition," said American Isuzu President and CEO Yasuyuki "Sonny" Sudo. "By offering XM, our dealers now join GM as the only vehicle companies to have a direct connection to this fast-growing and exciting radio service."
"We're delighted that Isuzu will offer XM in two of its top models," XM Executive Vice President Steve Cook said today. "Isuzu stands for quality, versatility, performance and value, which makes XM a fitting addition to an Isuzu cabin."
Last month, AMI Auto World Magazine named XM as one of the best new car options in its "Best of 2002" issue. In January, General Motors announced that it will offer XM in 23 models this year, comprising nearly half of all GM models, expanded from two Cadillac models available with XM since November. XM was named "Product of the Year" by Fortune, an "Invention of the Year" by Time and won Popular Science's 2001 "Best of What's New" Grand Award in the electronics category. XM won several awards at the 2001 CES, including "Best of CES" in the automotive category.
XM (Nasdaq: XMSR) is transforming radio, an industry that has seen little technological change since FM, almost 40 years ago. XM's programming lineup features 100 coast-to-coast digital channels: 71 music channels, more than 30 of them commercial-free, from hip hop to opera, classical to country, bluegrass to blues; and 29 channels of sports, talk, children's and entertainment. XM also brings to the car, for the first time on radio, the same diverse selection of 24-hour news sources available in the home on cable and DIRECTV.
XM radios are available at major electronics retailers nationwide including Best Buy, Circuit City, Tweeter, Ultimate Electronics, participating RadioShack Dealers and Franchisees, Crutchfield, Good Guys, CarToys, Audio Express and Sound Advice; and at independent retailers. Leading manufacturers such as Sony, Alpine and Pioneer offer a broad array of XM radios including models that will easily enable any existing car stereo system to receive XM service (the Pioneer Universal Receiver and the Sony Plug-and-Play) and over 20 models of new AM/FM/XM systems offering many other great features. XM's strategic investors include America's leading car, radio and satellite TV companies -- General Motors, American Honda Motor Co. Inc., Clear Channel Communications and DIRECTV. For more information, please visit XM's web site: www.xmradio.com.
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include uncertainties associated with demand for the company's service, the company's dependence on third party vendors, its continuing need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 8-K filed with the Securities and Exchange Commission on 12-6-2001. Copies of the filing are available upon request from XM Radio' s Investor Relations Department.