July 30, 2003

Formula and SIRIUS Make Waves with Satellite Radio as Standard Equipment

All 2004 Formula Boats To Include Radio and One Year of SIRIUS Music and Entertainment

DECATUR, IN and NEW YORK — July 30, 2003 — SIRIUS (NASDAQ: SIRI), known for delivering the very best in commercial-free music and premium audio entertainment, and Thunderbird Products/Formula Powerboats, builders of premium family, sport and offshore racing boats, today announced that a SIRIUS Satellite Radio system, and one year of SIRIUS’ premium programming, will be offered as a standard feature on all 2004 Formula powerboats. Formula made the announcement at its annual dealer meeting, themed “Experience the Magic,” being held at the Sanibel Harbor Resort & Spa in Fort Myers, Florida.

In 2003, Formula became the first boat builder to include SIRIUS-ready head units in its boats. For 2004, every Formula boat will be equipped with a complete SIRIUS marine system featuring a Kenwood Marine or Clarion Marine AM/FM/CD/SIRI head unit, with a direct digital interface to a SIRIUS tuner and a Shakespeare marine SIRIUS antenna. All Formula boats will also come bundled with one year of SIRIUS service.

In addition to the inclusion of SIRIUS on all Formula boats, SIRIUS and Formula have agreed to continue their race sponsorship partnership. Formula has provided SIRIUS with a 38-foot Formula offshore race boat to be on display at NASCAR and other events throughout the country, and SIRIUS is a proud sponsor of three Formula factory race teams: Let’s Play Racing, Total Marine Racing, and R & S Racing. SIRIUS/Let’s Play Racing is currently #1 in the APBA Pro-Series Factory 2 Class standings.

"SIRIUS offers the commercial-free premium entertainment that complements the high standards of our boats and boat owners,” said Scott Porter, President of Thunderbird/Formula Boats. “We are excited about continuing our race and display programs with SIRIUS.” Offshore racing featuring the Formula/SIRIUS race teams can be seen regularly on Speed Channel and Outdoor Channel offshore racing programs.

”SIRIUS is proud to continue and expand our association with Thunderbird Formula Boats," said Joseph P. Clayton, President and CEO of SIRIUS. “Our second year with Formula, both with the factory satellite radio offerings and the race sponsorships, is a great win for Formula, SIRIUS and Formula customers.”


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. 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 and Mazda. Automotive brands that have announced plans to offer SIRIUS in select models include Ford, Lincoln, Mercury, Mercedes-Benz, Jaguar, Volvo, 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 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.

About Formula Thunderbird Products, manufacturer of Formula powerboats (www.formulaboats.com), is a progressive, family-owned company located in Decatur, Indiana. Formula boats are world-renowned for beautiful styling, advanced engineering and exciting performance on the water. Formula Racing is a primary sponsor of the Great Lakes Silver Cup Series.

For the most up-to-date information, news and photographs of Thunderbird Formula products, visit their Web site at www.formulaboats.com. For race info and standings visit www.racing.formulaboats.com

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