Investor Relations

Eminem, Shady Records, Interscope And SIRIUS Satellite Radio To Launch Exclusive Radio Channel

Groundbreaking Channel to be Executive Produced by Eminem and Record Executives Jimmy Iovine and Paul Rosenberg

NEW YORK - July 12, 2004 - SIRIUS (NASDAQ: SIRI), the premium satellite radio provider known for delivering the very best in commercial-free music and sports programming to cars and homes across the country, today announced a partnership with multi-platinum recording artist Eminem, Shady Records and Interscope Records to create a cutting-edge hip-hop music and lifestyle channel exclusively for SIRIUS Satellite Radio.

The new channel will feature music from across the hip-hop landscape along with programming specially created by leading artists and DJs. A weekly show by Eminem's DJ Green Lantern will spotlight the freshest mixes, while specialty shows hosted by Eminem and acts from the Shady Records roster will offer fans the opportunity to talk directly to their favorite artists. The channel is on tap to debut this fall and will be included with every SIRIUS subscription at no extra charge.

Eminem, Interscope Records Chairman Jimmy Iovine and Shady Records Vice President/Eminem manager Paul Rosenberg will serve as co-executive producers of the channel.

Eminem has been described as "the biggest star in the music world" by The Wall Street Journal and "the most compelling music icon of his generation" by the San Francisco Chronicle. Under Eminem and Rosenberg, Shady Records has quickly grown into one of the leading labels in urban music, featuring gold and platinum artists including 50 Cent, D-12, Obie Trice and Stat Quo, as well as the multi-platinum soundtrack to the film 8 Mile.

"Once upon a time not too long ago, the feds wanted all my music off the air,” Eminem said. “Now we’ll be on SIRIUS 24 hours a day, playing the best hip-hop...not just from Shady Records, but from everywhere. We’ll deliver an uncut hip-hop radio station like never before. I can’t wait to start dropping new material, exclusive tracks and uncensored hip-hop featuring me and everyone else, freely saying whatever the hell we want."

"Few artists in the history of music have had the kind of performance, songwriting and producing impact that Eminem has," said Scott Greenstein, SIRIUS President of Entertainment and Sports. "This is a perfect example of artistic and commercial forces coming together to create something truly unique, and we're proud to launch yet another innovative new channel for SIRIUS subscribers."

Paul Rosenberg, Eminem's manager and VP of Shady Records, remarked: "Our partnership with SIRIUS gives us the unique opportunity for nationwide exposure of our new and existing artist roster. While our channel will not be solely limited to Shady artists, we plan on delivering exclusive, obscure and/or hard to find music from our acts. Also, the channel will give fans further access into our world with live show broadcasts, unique remote interviews and on-air artist segments. We are thrilled to be the first nationwide label-driven 24-hour music radio station.”

“Eminem and Paul Rosenberg have the insight to see the value in building a direct connection to their audience,” said Iovine. “These guys are two of the most innovative people in our industry and what they develop with SIRIUS will influence the future of our business and the way artists and labels connect with their fans. This is the new music business at work, and once again, Shady is at the forefront.”

About SIRIUS
SIRIUS, now available to over 10 million DISH Network satellite TV and SIRIUS Satellite Radio subscribers, provides listeners with over 120 channels of the best commercial-free music, sports, information and entertainment, with digital quality sound coast-to-coast, broadcast daily from New York City, Los Angeles, Nashville, New Orleans, Houston and Daytona. SIRIUS offers 65 channels of 100% commercial-free music, featuring multiple categories of pop, rock, country, hip-hop, R&B, dance, jazz, classical and Latin music, along with more than 50 channels of world-class sports, news, talk entertainment, traffic and weather for a monthly subscription fee of only $12.95, with greater savings for upfront payments of multiple months or a year or more. SIRIUS also broadcasts live play-by-play games of the NHL and the NFL, and is the official satellite radio partner of the NFL.

SIRIUS Satellite Radio products for the car, truck, home, RV and boat are manufactured by Alpine, Audiovox, Blaupunkt, Clarion, Eclipse, Jensen, JVC, Kenwood, Panasonic and U.S. Electronics, and can be purchased at major retailers including Best Buy, Car Toys, Circuit City, Good Guys, Wal-Mart, Sears, Tweeter and Ultimate Electronics, along with RadioShack and DISH Network outlets.

SIRIUS’ exclusive automotive partners DaimlerChrysler, Ford and BMW represent over 40% of new cars and light trucks sold annually in the United States. Automotive brands currently offering SIRIUS radios in select new car models include BMW, MINI, Chrysler, Dodge, Jeepâ, Nissan, Infiniti, Mazda, Audi, Ford, Lincoln-Mercury, Mercedes-Benz and Volkswagen. Automotive brands that have announced plans to offer SIRIUS radios in select models include Jaguar, Volvo, Land Rover and Aston Martin. In 2004, SIRIUS radios are expected to be available in over 80 different car models, with more than 50 of them factory programs. Also, Hertz currently offers SIRIUS in 29 vehicle models at 53 major locations around the country. In addition, the Penske companies – Penske Auto Group, United Auto Group and Penske Trucking – are offering SIRIUS radios as a factory installed option, where available, in their cars and trucks through their dealerships.

Genmar Holdings, the world’s largest manufacturer of recreational boats, Formula Boats and Winnebago, the leading supplier of recreational vehicles and motor homes, also offer SIRIUS.

Click on sirius.com to listen to SIRIUS live, or to find a SIRIUS retailer or car dealer in your area.

Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2003 filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our results of operations are: our dependence upon third parties to manufacture, distribute, market and sell SIRIUS radios and components for those radios; the unproven market for our service; our competitive position and any events which affect the useful life of our satellites.