SIRIUS And Penske Automotive Group Announce Partnership
Agreement Calls for Cars to be Factory Equipped With Pre-activated SIRIUS-Ready Units, Where Available
New York, and El Monte, California – January 27, 2004 - SIRIUS Satellite Radio (NASDAQ:SIRI), known for delivering the very best in commercial-free music and premium sports entertainment to cars and homes across the country, and the Penske Automotive Group (PAG), today announced a multi-year agreement to promote SIRIUS satellite radios in cars sold or leased by PAG’s six car dealerships in California.
As part of the agreement, PAG will order its new cars with factory-installed SIRIUS satellite radios where available, pre-activated with 16 streams of programming for a three-month complimentary period. The five-year agreement also calls for SIRIUS and PAG to launch extensive joint marketing activities, including direct mailings to PAG customers, prominent signage and satellite radio service in their six dealerships.
"Providing exceptional value and quality to our guests has always been a key part of our sales philosophy," said Gregory Penske, President of the Penske Automotive Group. "This partnership with SIRIUS is another example of our ability to bring added value to our guests, and provide them with an innovative in-vehicle entertainment experience."
"PAG is a highly recognized and well-established organization in California with a strong customer base," said Joseph P. Clayton, President and CEO, SIRIUS. "Through their six dealerships, we will be able to offer PAG guests the opportunity to experience a sampling of SIRIUS’ 100% commercial-free music, extensive news programming and unequalled sports broadcasting when they purchase or lease their vehicles. Like many others who have listened to SIRIUS, we believe that once they sample our service they will never want to give it up."
About Penske Automotive Group
Penske Automotive Goup, Inc. (PAG), based in El Monte, California is a subsidiary of Penske Corporation. The group sells more than 44,000 vehicles annually and includes Longo Toyota in El Monte, CA, its flagship store and the #1 retail automotive dealership in the world; Longo Lexus in El Monte, CA; Penske Motors (Mercedes-Benz) in West Covina, CA; Penske Honda in Ontario, CA; and Lexus Stevens Creek in San Jose, CA. The group will open its sixth store, Toyota of Rancho Santa Margarita, in the spring of 2004.
SIRIUS is the only satellite radio service bringing listeners more than 100 streams of the best music and entertainment coast-to-coast. 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. SIRIUS is also the official satellite radio partner of the NFL. 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 including Circuit City, Best Buy, Car Toys, Good Guys, Tweeter, Ultimate Electronics, Sears and Crutchfield. SIRIUS is the leading OEM satellite radio provider, with exclusive partnerships with DaimlerChrysler, Ford and BMW. Automotive brands currently offering SIRIUS radios in select new car models 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 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. Hertz currently offer SIRIUS in 29 vehicle models at 53 major locations around the country.
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, 2002 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.