Leading Automakers Express Support for SIRIUS-XM Merger

Leading Automakers Express Support for SIRIUS-XM Merger

WASHINGTON and NEW YORK, Dec. 17 /PRNewswire-FirstCall/ -- The world's leading automakers joined the list of prominent businesses and organizations in favor of the merger of XM Satellite Radio (NASDAQ:XMSR) and SIRIUS Satellite Radio (NASDAQ:SIRI). General Motors Corporation, Ford Motor Company, Toyota, Honda, Hyundai and Kia Motors America have publicly supported a combined SIRIUS-XM. Chrysler also sent a letter to FCC Chairman Kevin Martin and Assistant Attorney General Thomas Barnett expressing no opposition to the merger. In 2006, these automakers sold more than 14 million vehicles, or over 85% of the light vehicles sold in the United States.

In its letter filed with the FCC, General Motors cited the enhanced program offerings and lower prices that a combined SIRIUS-XM would offer:

"General Motors believes the proposed merger is and will be in the public
interest because the merged company will be able to offer consumers
expanded programming choices and a broad range of service packages,
including packages at lower prices." - (Richard M. Lee, Executive
Director - Satellite Radio Services, General Motors North American
Operations)

Ford listed a number of benefits to America's drivers as well as pointing out the positive impact that the merger would have on the competitive landscape:

"We believe that a company that combines the capabilities of SIRIUS and XM
could serve the interests of consumers by offering a more dynamic and
potentially cost-effective product, spurring additional competition with
audio entertainment providers such as terrestrial radio, and that this may
result in greater innovation." - (Paul Mascarenas, Vice President
Engineering, Product Development - The Americas, Ford Motor Company)

American Honda echoed this sentiment, describing the highly competitive audio entertainment marketplace in which SIRIUS and XM operate:

" ... It has become evident that satellite radio and digital satellite
services must compete mightily in the U.S. with a wide array of burgeoning
entertainment forms and an ever-widening list of technology participants
who are delivering services in this space." - (Charles Koch, Manager,
American Honda Product Planning)

Kia Motors highlighted the enhanced programming options and lower costs the merger would provide Kia drivers.

"This expanded choice and lower price is exactly the value our consumers
want and deserve." - (Len Hunt, Executive Vice President and Chief
Operating Officer, Kia Motors America)

Hyundai noted the pricing benefits and the "best of both" option that the merger would afford consumers:

"Rather than being forced to choose between content that currently is
exclusive to one satellite radio provider, our customers will gain access
to packages offering the 'best of both' services for significantly less
than the current combined price, as well as packages of fewer channels at
much lower prices." - (Wayne Killen, Director of Product Planning, Hyundai
Motor America)

The strong support of many leading automakers is just one more indication of the growing momentum in favor of the merger from consumers, public interest groups, analysts, Members of Congress and many others, including: National Association for the Advancement of Colored People (NAACP), League of United Latin American Citizens (LULAC), Americans for Tax Reform, Independent Women's Forum, Parents Television Council, American Trucking Associations, Charlie Daniels, RadioShack and Circuit City Stores, Inc.

The letters from leading automakers and other supportive comments can be found on the SIRIUS-XM merger websites www.SIRIUSmerger.com or www.XMmerger.com.

About SIRIUS

SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL, NASCAR and NBA, and broadcasts live play-by-play games of the NFL and NBA, as well as live NASCAR races. All SIRIUS programming is available for a monthly subscription fee of only $12.95.

SIRIUS Internet Radio (SIR) is a CD-quality, Internet-only version of the SIRIUS radio service, without the use of a radio, for the monthly subscription fee of $12.95. SIR delivers more than 80 channels of talk, entertainment, sports, and 100% commercial free music.

SIRIUS Backseat TV(TM) is the first ever live in-vehicle rear seat entertainment featuring three channels of children's TV programming, including Nickelodeon, Disney Channel and Cartoon Network, for the subscription fee of $6.99 plus applicable audio subscription fee.

SIRIUS products for the car, truck, home, RV and boat are available in more than 20,000 retail locations, including Best Buy, Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's Club, RadioShack and at shop.sirius.com.

SIRIUS radios are offered in vehicles from Audi, Bentley, BMW, Chrysler, Dodge, Ford, Infiniti, Jaguar, Jeep(R), Land Rover, Lexus, Lincoln, Mercury, Maybach, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Rolls Royce, Scion, Toyota, Volkswagen, and Volvo. Hertz also offers SIRIUS in its rental cars at major locations around the country.

Click on www.sirius.com to listen to SIRIUS live, or to purchase a SIRIUS radio and subscription.

About XM

XM is America's number one satellite radio company with more than 8.5 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, Chicago, the Country Music Hall of Fame in Nashville, Toronto and Montreal, XM's 2007 lineup includes more than 170 digital channels of choice from coast to coast: commercial-free music, premier sports, news, talk radio, comedy, children's and entertainment programming; and the most advanced traffic and weather information.

XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Hyundai, Nissan, Porsche, Subaru, Suzuki and Toyota is available in 140 different vehicle models for 2007. 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/ .

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc., including potential synergies and cost savings and the timing thereof, future financial and operating results, the combined company's plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "should," "may," or words of similar meaning. Such forward- looking statements are based upon the current beliefs and expectations of SIRIUS' and XM's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of SIRIUS and XM. Actual results may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statement: general business and economic conditions; the performance of financial markets and interest rates; the ability to obtain governmental approvals of the transaction on a timely basis; the failure of SIRIUS and XM stockholders to approve the transaction; the failure to realize synergies and cost-savings from the transaction or delay in realization thereof; the businesses of SIRIUS and XM may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected; and operating costs and business disruption following the merger, including adverse effects on employee retention and on our business relationships with third parties, including manufacturers of radios, retailers, automakers and programming providers. Additional factors that could cause SIRIUS' and XM's results to differ materially from those described in the forward-looking statements can be found in SIRIUS' and XM's Annual Reports on Form 10-K for the year ended December 31, 2006, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2007 and June 30, 2007, which are filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov/). The information set forth herein speaks only as of the date hereof, and SIRIUS and XM disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

First Call Analyst:
FCMN Contact:

Source: XM; SIRIUS

CONTACT: Media Relations, Patrick Reilly of SIRIUS, +1-212-901-6646,
PReilly@siriusradio.com; or Kelly Sullivan of Joele Frank, Wilkinson Brimmer
Katcher, +1-212-355-4449, ksullivan@joelefrank.com, for SIRIUS; or Media
Relations, Nathaniel Brown, +1-212-708-6170, Nathaniel.Brown@xmradio.com, or
Chance Patterson, +1-202-380-4318, Chance.Patterson@xmradio.com, both of XM

Web site:

http://www.xmradio.com/
http://www.sirius.com/
http://www.xmmerger.com/
http://www.siriusmerger.com/

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