NEW YORK – December 14, 2004 – SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that it will provide real-time traffic data to vehicles over its nationwide satellite radio network. The company has signed an agreement with NAVTEQ (NYSE: NVT), the premier provider of mapping and traffic data reporting services, to offer consumers reliable traffic information in their vehicles.
The new service will provide consumers with regularly updated traffic information, such as accidents, scheduled road closings, traffic flow data or other traffic-related incidents to help them select the best available route. Traffic information will be integrated into new in-car navigation systems combining route guidance and mapping with traffic. Initially, the service will cover 30 markets and is expected to expand to over 50 markets.
“This new data service will complement SIRIUS’ First Traffic audio service by providing a visual representation of current traffic conditions specific to each link of roadway. Over time, additional features will be added to help determine estimated drive times on a given route, based on historical traffic patterns,” said Jim Meyer, President of Operations and Sales for SIRIUS. “Combined with an in-car navigational system, consumers will be able to accurately determine the most direct routes through the mapping function, while being continuously informed about potential delays or incidents that could disrupt their travel plans.”
According to company officials, SIRIUS automotive and retail partners have shown a high level of interest in the new service, and plan to offer it as a product upgrade for their upcoming navigational systems. The service is also expected to provide an additional revenue stream for SIRIUS, which the company believes will have a positive effect on its average revenue per user (ARPU) when implemented.
“This agreement with NAVTEQ is an excellent example of the types of data services SIRIUS plans to offer to provide even more benefits to our subscribers,” added Meyer. “Along with our commercial-free music, plus news, sports and talk shows, you have an unbeatable combination of entertainment and services for drivers across the country.”
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices and Internet-based mapping applications. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 1,500 employees located in over 100 offices in 20 countries.
NAVTEQ is a trademark in the U.S. and other countries. © 2004 NAVTEQ. All rights reserved.About SIRIUS
SIRIUS radios for the car, truck, home, RV and boat are manufactured by Alpine, Audiovox, Blaupunkt, Clarion, Delphi, Jensen, JVC, Kenwood, Sanyo and XACT Communications. Available in more than 25,000 retail locations, SIRIUS radios can be purchased at major retailers including Best Buy, Circuit City, Crutchfield, Office Depot, Sears, Target, Wal-Mart and RadioShack. SIRIUS is also available at heavy truck dealers and truck stops nationwide.
SIRIUS radios are currently offered in vehicles from Audi, BMW, Chrysler, Dodge, Ford, Infiniti, Jeep®, Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Porsche and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus and Scion vehicles. Hertz currently offers SIRIUS at 53 major locations around the country.
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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, 2003 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.