Washington D.C., March 12, 2002 -- XM Satellite Radio, the nation's leading satellite radio service, has scored a hat trick of awards from top trade magazines for its revolutionary service and technology, receiving honors from AudioVideo Magazine, Heavy Duty Trucking Magazine and Mobile Electronics Magazine.
"XM is honored to receive these prestigious awards," said XM President and CEO Hugh Panero. "XM is the fastest-selling audio product in the past 20 years and receiving recognition from these publications is a wonderful testament to our service and technology."
AudioVideo Magazine awarded XM the 2002 Autosound Grand Prix Award for its satellite radio technology and will appear in a special section of its March issue. The award is given only to those products that embody the year's greatest technical advances. The Grand Prix Award is voted by retailers for sound/video fidelity, design engineering, reliability, installation, user and installer friendliness, product integrity and value-for-price/performance.
Heavy Duty Trucking named XM one of the 50 best product introductions of the year in its March 2002 issue. The "Nifty Fifty" winners are selected by Heavy Duty Trucking's editors from hundreds of new product articles appearing in the magazine over the past year. Editors selected products based on their usefulness to the truck operator in terms of innovation, serviceability and performance.
XM has received an Industry Achievement Award from Mobile Electronics magazine, a monthly trade publication covering the 12-volt industry, for it's impact on the car audio market. According to the magazine, 12-volt retailers and XM's manufacturing partners have praised the satellite radio service for its national advertising campaign, providing for a type of exposure that the 12-volt industry has never seen before.
Earlier, 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. General Motors in November rolled out factory-installed Delphi-Delco XM radios in Cadillac DeVille and Seville models, and will expand to 21 additional GM models this year. 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.