January 27, 2004

SIRIUS And Penske Truck Leasing To Offer Satellite Radios In Vehicles

  • Penske Truck Leasing to Order Factory Installed, SIRIUS Radios for Lease and Commercial Rental Customers
  • Penske Truck Leasing to Launch Pilot Program in Consumer Rental Fleet
  • New York, and Reading, PA -- 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 Penske Truck Leasing, today announced a multi-year agreement to offer SIRIUS satellite radios in specific lease, commercial and consumer rental vehicles.

    Penske Truck Leasing, the largest truck leasing and rental company in the United States, will offer factory-installed SIRIUS radios on new class 5,6,7 and 8 trucks that it purchases for its business, where available. All SIRIUS radios will be pre-activated with a sampling of programming for a complimentary trial period.

    The agreement also calls for SIRIUS and Penske Truck Leasing to participate in extensive joint marketing activities, including direct sales efforts to Penske Truck Leasing customers, as well as prominent signage and promotions at Penske Truck Leasing locations.

    "SIRIUS Satellite Radio can provide additional value and comfort to drivers whether they are moving freight or moving their belongings across the country," said Brian Hard, President of Penske Truck Leasing. "Now, we will be able to seamlessly offer this outstanding service directly to our customers."

    "The truck driver is a natural candidate for SIRIUS Satellite Radio service, and is extremely valuable to us," said Joseph P. Clayton, President and CEO, SIRIUS. "We have not only gone to great lengths to make our regular service appealing to them, but have also designed a specific SIRIUS Trucking Network channel that includes a wide range of popular music, important information on road conditions, and call-in talk shows for truckers during daytime hours."

    About Penske Truck Leasing
    Penske Truck leasing Co., LP, is headquartered in Reading, PA. A leading global transportation services provider, the company operates approximately 200,000 vehicles and serves customers from nearly 1,000 locations in the United States, Canada, Mexico, South America and Europe. Product lines include full service leasing, contract maintenance, commercial and consumer rental, integrated logistic and supply chain management solutions. Penske Truck Leasing’s annual revenues are approximately $3.4 Billion.

    About SIRIUS
    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.

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