SIRIUS BEGINS SHIPPING SECOND GENERATION CHIPSETS
Initial Order of 60,000 to be Used by Company's Satellite Radio Manufacturers for New Products
NEW YORK, NY - February 28, 2003 - SIRIUS (NASDAQ: SIRI), the premier satellite radio broadcaster and only service delivering uncompromised coast-to-coast music and entertainment for your car and home, today announced that its chipset maker, Agere Systems, has started shipping the satellite radio company's second-generation chipsets to SIRIUS radio manufacturing partners.
An initial order of 60,000 chipsets has begun shipping to Kiryung Electronics of Seoul, Korea, a major supplier to the radio industry, and a major supplier to SIRIUS receiver partners. The chipsets will be used in SIRIUS satellite radios scheduled to be on store shelves this spring.
"This initial roll out of our new chipsets will help support our introduction of second generation SIRIUS satellite radios into the marketplace, including our 'Plug & Play' units," said Joseph P. Clayton, President & CEO of SIRIUS. "We are very pleased to be introducing this additional element to our growing product mix."
The new chipset utilizes Agere's COM2H process technology to integrate all digital portions of the receiver circuitry, excluding memory, into a single chip. This reduces the receiver design dimensions to the size of a credit card, from that of a videocassette today.
In addition to a dramatic reduction in size, the new chipset reduces required power by 50 percent and provides improved thermal performance.
SIRIUS is the only satellite radio service bringing listeners 100 streams of the best music and entertainment coast-to-coast. SIRIUS offers 60 music streams with no commercials, along with 40 world-class sports, news and entertainment streams for a monthly subscription fee of $12.95. 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, Audiovox and Jensen, 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, Chrysler, Dodge, Jeep®, and Nissan. Automotive brands that have announced plans to start offering SIRIUS in select models include Ford, Lincoln, Mercury, Mercedes-Benz, Jaguar, Volvo, Mazda, Infiniti, MINI, Audi, Volkswagen, Land Rover and Aston Martin.
Click on www.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 Registration Statement on Form S-4 (File No. 333-101317), and amendments thereto, filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our results of operations are: our need for substantial additional financing in the first half of this year; 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.