Investor Relations

CBC/Radio-Canada And SIRIUS Announce Venture To Bring Satellite Radio To Canadians

CBC/Radio-Canada and SIRIUS to File License Application with CRTC

OTTAWA AND NEW YORK - December 10, 2003 - CBC/Radio-Canada, Canada’s national public broadcaster, and SIRIUS (NASDAQ: SIRI), known for delivering the very best in commercial-free music and premium broadcast entertainment to cars and homes throughout the continental United States, today announced that they will form a joint venture to bring satellite radio to Canada. CBC/Radio-Canada and SIRIUS also announced today that the venture will soon file an application with the Canadian Radio-television and Telecommunications Commission (CRTC) for a license to provide satellite radio in Canada.

"CBC/Radio-Canada is excited about the opportunity to partner with SIRIUS to bring satellite radio to Canada," said Robert Rabinovitch, CBC/Radio-Canada’s President and CEO. “By expanding the choices available to Canadians, this new service will enable the national public broadcaster to better fulfill its mandate by extending its reach and enhancing its services to Canadians.”

This new, subscription-based, national service will give Canadians access to a wide range of programming and Canadian content. CBC/Radio-Canada was able to secure the distribution of two of its main channels, namely Radio One and La Première Chaîne. As a result of CBC/Radio-Canada’s involvement, the new venture will also provide significant opportunities for existing and emerging Canadian artists to showcase their talent and be heard not only across Canada, but throughout North America as well.

"Our agreement with CBC/Radio-Canada is an exceptional example of a time-honored brand joining with SIRIUS to bring an innovative national service to Canadians." said Joseph P. Clayton, President and CEO of SIRIUS. "60 of our 100 premier channels are commercial-free, and this makes SIRIUS an ideal match for Canada's public broadcaster and its unparalleled Canadian programming content. Also, we have exclusive agreements with DaimlerChrysler, Ford and BMW car manufacturers, who sell nearly 40% of all vehicles sold in Canada, which adds to our reach as well."

The CBC/Radio-Canada and SIRIUS venture will ensure that Canadians have the greatest possible access to a wide array of commercial-free music, information and entertainment services, as well as their national public broadcaster. When licensed by the CRTC, this new subscription-based service will be available to Canadians across the entire country, from urban centers to even the most remote regions.

"Fueled by the digital revolution, radio services are changing dramatically," added Mr. Rabinovitch. "We are forging ahead to ensure that CBC/Radio-Canada has an expanded reach and presence for the benefit of Canadians. We are also encouraged to know that the CRTC wants to deal with the matter of satellite radio expeditiously."

SIRIUS and CBC/Radio-Canada are holding talks with, and may add, other Canadian financial or broadcasting investors to the venture.

About CBC/Radio-Canada

CBC/Radio-Canada is Canada's national public broadcaster and one of its largest cultural institutions. CBC/Radio-Canada reaches Canadians through eight national radio and television networks, its full-service Web sites, local/regional stations and affiliates, the digital television channel Country Canada, and the continuous music network Galaxie. In addition, CBC/Radio-Canada has forged partnerships with other broadcasters and is a partner in the specialty television services ARTV and The Documentary Channel. Through this array of activities, CBC/Radio-Canada brings diverse regional and cultural perspectives into the daily lives of Canadians in English, French and eight aboriginal languages. CBC/Radio-Canada was included this year in Canada's Top 100 Employers.

About SIRIUS

SIRIUS is the only satellite radio service bringing listeners more than 100 streams of the best music and entertainment coast-to-coast in the United States. SIRIUS offers 60 music streams with no commercials, along with over 40 world-class sports, news and entertainment streams for a monthly subscription fee of only $12.95, with greater savings for upfront payments of multiple months or a year or more. Stream Jockeys create and deliver uncompromised music in virtually every genre to our listeners 24 hours a day. Satellite radio products bringing SIRIUS to listeners in the car, truck, home, RV and boat are manufactured by Kenwood, Panasonic, Clarion and Audiovox, and are available at major retailers in the United States including Circuit City, Best Buy, Car Toys, Good Guys, Tweeter, Ultimate Electronics, Sears and Crutchfield. SIRIUS is the leading United States OEM satellite radio provider, with exclusive partnerships with DaimlerChrysler, Ford and BMW. Automotive brands currently offering SIRIUS radios in select new car models in the United States include BMW, MINI, Chrysler, Dodge, Jeep®, Nissan, Infiniti, Mazda, Audi, Ford and Lincoln-Mercury. Automotive brands that have announced plans to offer SIRIUS in select models in the United Sates include Mercedes-Benz, Jaguar, Volvo, Volkswagen, Land Rover and Aston Martin. 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 www.SIRIUS.com to listen to SIRIUS live.