XM Satellite Radio Holdings Announces Quarterly Dividend on Series B Preferred Stock

XM Satellite Radio Holdings Announces Quarterly Dividend on Series B Preferred Stock

WASHINGTON, July 8 /PRNewswire-FirstCall/ -- XM Satellite Radio Holdings Inc. (NASDAQ:XMSR) announced today that it has declared a regular quarterly dividend on its 8.25% Series B Convertible Redeemable Preferred Stock.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )

The dividend is payable in shares of the Company's Class A Common Stock at a rate of $1.0313 per share of Series B Preferred Stock owned, with fractional shares to be paid in cash. The shares of Class A Common Stock to be issued will be valued at 95% of the average daily price of the Class A Common Stock for the 10 consecutive trading days ending on July 15, 2005. The dividend is payable as of August 1, 2005, to Series B convertible preferred stockholders of record of XM Satellite Radio Holdings Inc. as of July 22, 2005.

About XM Satellite Radio

XM Satellite Radio is America's number one satellite radio service with more than 4.4 million subscribers. Broadcasting live daily from studios in Washington, D.C., New York City and Nashville at the Country Music Hall of Fame, XM offers more than 150 digital channels of choice from coast to coast: commercial-free music channels, premier sports, talk, comedy, children's and entertainment programming; and in-depth traffic and weather information. XM was named Best Radio Service at the 2004 Billboard Digital Entertainment Awards.

XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Toyota, Hyundai, Nissan and Volkswagen/Audi, is available in more than 120 different vehicle models for 2005. XM's industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com/.

Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-4-05. Copies of the filing are available upon request from XM Radio's Investor Relations Department.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com
Source: XM Satellite Radio Holdings Inc.

CONTACT: Investors: Gary Tiedemann of XM Satellite Radio Holdings Inc.,
+1-202-380-4396, or gary.tiedemann@xmradio.com

Web site: http://www.xmradio.com/

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