XM Satellite Radio to Redeem Series B Preferred Stock

XM Satellite Radio to Redeem Series B Preferred Stock

WASHINGTON, May 26 /PRNewswire-FirstCall/ -- XM Satellite Radio Holdings Inc. (NASDAQ:XMSR), announced today that it has issued a notice to redeem all of its outstanding 8.25% Series B Convertible Redeemable Preferred Stock due 2012. Each share of Series B preferred stock has a liquidation preference of $50 and is convertible into shares of XM's Class A common stock at $40 per share. As of May 26, 2006, there were 107,985 shares of Series B preferred stock outstanding. The redemption of the Series B preferred stock, plus payment of accrued dividends, is expected to occur on June 26, 2006.

Source: XM Satellite Radio Holdings Inc.

CONTACT: Chance Patterson, VP of Corporate Affairs of XM Satellite Radio
Holdings Inc., +1-202-380-4318, Chance.patterson@xmradio.com

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

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