XM SATELLITE RADIO TO CARRY COLLEGE FOOTBALL BOWL CHAMPIONSHIP SERIES ON ESPN RADIO LIVE

Broadcast is First National Radio Coverage of BCS

Washington D.C., December 26, 2001 -- In another radio and sports milestone, XM Satellite Radio will broadcast the entire 2002 College Football Bowl Championship Series (BCS) on ESPN Radio (XM Channel 140) live beginning with the Fiesta Bowl on New Year's Day and culminating with the Rose Bowl, this year's college football national championship game, on Jan. 3. The broadcast marks the first-ever uninterrupted coast-to-coast radio coverage of the BCS.

"The college football bowl season is a great tradition in American sports, and XM is proud to make this year's matchups available to radio listeners coast-to-coast on ESPN Radio," said XM Senior Vice President Steve Gavenas.

ESPN Radio's BCS coverage begins with The Tostitos Fiesta Bowl at 4:30 pm ET Jan. 1, pitting the Colorado Buffaloes against the Oregon Ducks from Sun Devil Stadium in Tempe, Ariz. The Nokia Sugar Bowl begins immediately following the Fiesta Bowl, at approximately 8:30 p.m. ET Jan. 1, and features the Louisiana State Tigers versus the Illinois Fighting Illini from the Superdome in New Orleans. At 7:45 p.m. ET Jan. 2, The FedEx Orange Bowl will match the Maryland Terrapins against the Florida Gators from Pro Player Stadium in Miami. The Rose Bowl presented by AT&T will decide this year's college football champion. The unbeaten and top-ranked Miami (Fla) Hurricanes will battle the Nebraska Cornhuskers from the Rose Bowl in Pasadena, Calif., beginning at 7:45 p.m. ET Jan. 3.

XM 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 more than 20 GM models next 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.

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 International Consumer Electronics Show, including "Best of CES" in the automotive category. XM has been featured as a holiday gift by publications ranging from US News & World Report to Playboy. 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.