November 14, 2001
Expanding its nationwide rollout to the nation's capital, XM Satellite Radio (Nasdaq: XMSR) today opened its state-of-the-art broadcast complex to the public and presented Mayor Anthony Williams with the symbolic first XM radio distributed in the District.
"XM now is nationwide, and we're proud to launch in the nation's capital, which we call home," said XM President and CEO Hugh Panero.
At today's celebration, Congresswoman Eleanor Holmes Norton (D-DC) and Mayor Williams hailed a new era in radio and a boon for the District. Other top area officials attending included D.C. Councilman Harold Brazil and former Councilmember Charlene Drew Jarvis, President of Southeastern University.
XM gave the public guided tours of its 82-studio complex at 1500 Eckington Place NE, the largest broadcast complex in the country; and demonstrations of the XM sound. Panero presented Mayor Williams with the first XM radio issued in Washington, an award-winning Sony "Plug-and-Play" model that can enable any car or home stereo to receive XM's 100 coast-to-coast channels of music, news, sports, and entertainment.
Today's event marked the hometown leg of XM's 25-city "Power of X" national rollout tour, which will culminate with coast-to-coast events Dec. 5 in New York and Seattle. XM launched the first U.S. digital satellite radio service Sept. 25 in its lead markets of San Diego and Dallas/Fort Worth and expanded in mid-October across the entire Southern U.S. This week, XM completed its nationwide launch across the entire continental United States.
XM will transform radio, an industry that has seen little technological change since FM, almost 40 years ago. XM provides music to soothe the mind and information to fill it. 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 offers 13 channels of news and information covering the latest national, world, business, financial and technology developments from premier partners and its own programming staff, such as CNBC, CNN Headline News, CNNfn, Fox News, ABC News & Talk, USA Today, Bloomberg, BBC World Service, C-SPAN and its own XM News. These channels extend the reach of America's most trusted and popular hosts and commentary from TV and radio - including Maria Bartiromo, Art Bell, Sam Donaldson, Dr. Dean Edell, Sean Hannity, Brit Hume, Jim Lehrer, Joe Madison, Chris Matthews, Bill O'Reilly, Tim Russert, Tony Snow and Brian Williams -- to motorists everywhere across the United States, ensuring they are never out of touch with the latest news.
XM radios are available at major electronics retailers including Best Buy, Circuit City, Tweeter, 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 will 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 this month 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.
Consumer and press reaction to XM has been exceptional. The Chicago Tribune proclaimed in a widely run Knight-Ridder review, "XM Satellite Radio, a revolutionary service delivering 100 channels of music and talk for $9.99 a month, is only a few days old, and I'm already prepared to call it the best new consumer technology of 2001." Fortune Magazine wrote, ". . . satellite radio is the best thing to happen to car radio since FM emerged some 40 years ago." Most recently, XM was named an "Invention of the Year" by Time and won Popular Science's 2001 "Best of What's New" Grand Award in the electronics category.
"Remember when there were only three broadcast television networks?" Panero asked. "Soon people will say, 'Remember when there was only AM and FM?'"
XM won several awards at the 2001 International Consumer Electronics Show, including "Best of CES" in the automotive category. 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 2-22-2001. Copies of the filing are available upon request from XM Radio' s Investor Relations Department.