National, November 29, 2000 -- XM Satellite Radio (NASDAQ: XMSR) announced that the first of the company's two satellites will arrive this Saturday at Sea Launch's Home Port in Long Beach, California, in preparation for its scheduled launch January 8th.
XM's satellites -- officially named "Rock" and "Roll" -- will launch from Sea Launch's floating launch platform near the equator. The first XM satellite "Roll" will rocket into space on January 8th,, 2001, and the second will launch later in the first quarter.
Rock and Roll are Boeing 702 satellites, the most powerful commercial satellites ever manufactured, built by industry leader Boeing Satellite Systems. The satellites will be positioned above the United States, where they will transmit up to 100 channels of revolutionary radio programming nationwide. The XM signal will transmit directly to XM radios across the continental United States and its coastal waters. By using these two powerful satellites, each with the same nationwide coverage; XM Radio will ensure maximum signal and system reliability.
XM Continues to Execute in Three Key Areas "XM continues to execute its business plan in the three key areas necessary for the launch of commercial satellite radio service," Panero said. "The broadcast studio complex was unveiled in September featuring 82 all digital studios; XM's satellites are now poised for launch; and finally, we have fully validated our chipset architecture and we are finalizing production plans with our radio manufacturing partners which include such household names as Sony, Alpine, and Pioneer Electronics Corporation, among others. These radios will include AM, FM, and XM."
"I'm particularly pleased that development of these radio receivers is on schedule, so we will truly be able to rock and roll...and revolutionize radio in 2001. As we've been saying, we're right on track to launch commercial service in the middle of next year," Panero added. XM's satellites will be launched by the Sea Launch Company, a joint venture partnership. The Sea Launch Company is the world's only ocean-based commercial launch service company offering the most direct and cost-effective route to transfer orbit.
About XM Satellite Radio
XM Satellite Radio is developing a new band of radio. The service will be uplinked to XM's powerful satellites and transmitted directly to vehicle, home and portable radios across the country. Its first satellite is scheduled to launch in December 2000. XM-Ready radios will be manufactured by such household names as Sony, Alpine and Pioneer Electronics Corporation and sold by automotive and retail outlets such as Best Buy and Circuit City. XM's consumer service is slated to begin during the second quarter of 2001 for a monthly subscription fee of $9.95. First there was AM, then FM and soon â¦ XM Satellite Radio. For more information, please visit XM's website: 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 the launch of the company's satellites, 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 10-Q filed with the Securities and Exchange Commission on 11-13-2000. Copies of the filing are available upon request from XM Radio' s Investor Relations Department.