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International Entertainment News

Thursday, December 13, 2007

SIRIUS and XM Announce Additional Support for Merger

SIRIUS and XM Announce Additional Support for Merger

Diverse Group of Advocates for a Combined SIRIUS-XM Cite Economic and Consumer Benefits

WASHINGTON and NEW YORK, Dec. 13 /PRNewswire-FirstCall/ -- Three additional Members of Congress joined General Motors Corporation, Club for Growth, Harpo Productions, the Rural Coalition, and celebrity talent Andres Cantor, Bill Mack, Wynton Marsalis, Cal Ripken Jr. and Barry Switzer as the latest supporters of the pending merger of XM Satellite Radio (NASDAQ:XMSR) and SIRIUS Satellite Radio (NASDAQ:SIRI). The latest bi-partisan Congressional supporters include the Chairman of the Congressional Hispanic Caucus, Rep. Joe Baca (D-CA), Rep. Bob Filner (D-CA) and Rep. Connie Mack (R-FL). This new support adds to the diverse list of supporters for the pending merger.

In recent filings, Rep. Baca and Rep. Mack detailed how the merger will benefit the economy, enhance innovation, and strengthen competition:

"I find that the merger will not only maintain an advanced technological innovation, it will bolster the industry thereby strengthening our economy. More families and individuals will have an opportunity to access satellite radio."

--Rep. Joe Baca

"The proposed merger will enable satellite radio to become a stronger competitor and will drive all other players in the market, including terrestrial radio, to focus on making their services even more appealing to consumers."

--Rep. Connie Mack

GM added its support by emphasizing the increased range of entertainment and price choices for consumers and urged the FCC to avoid conditions that would compromise the performance or programming content available for vehicles with single mode receivers:

"GM believes the merger clearly will increase entertainment choices in the automotive environment particularly as "best of both" and as a la carte pricing becomes available for satellite radio services."

--Richard M. Lee, Executive Director - Satellite Radio Services, GM

The Rural Coalition echoed these comments, highlighting increased programming diversity resulting from the merger and other benefits for rural consumers in particular:

"We believe that the merger will empower rural listeners' choices, allowing them to build programming packages that are tailored to their budgets and listening tastes."

--Lorette Picciano, Executive Director, Rural Coalition

Jazz musician and artistic director of Jazz at Lincoln Center, Wynton Marsalis, expressed his support for the merger because of the competitive landscape and enhanced exposure for new artists and musicians.

"In a market that's crowded with everything from FM radio to iPods and downloaded music to internet radio to music on cell phones, the merger will help satellite radio [become] an enduring platform that will continue to benefit artists long into the future."

-- Wynton Marsalis, Artistic Director, Jazz at Lincoln Center and XM on Air Personality

On behalf of XM's "Oprah & Friends" channel, Harpo Productions expressed excitement about the expanded platform that a merger would provide for programming whose goal is to help listeners live their best lives.

"On behalf of Oprah & Friends, our channel on XM Radio, I write to express our support for the merger of XM and SIRIUS Satellite Radio."

-- Tim Bennett, President, Harpo Productions

Former big league great and co-host of XM's "Ripken Baseball" lauded the merger for the increased audience it would provide for specialty programming.

"I am excited about the SIRIUS and XM merger and the prospect of increased listenership for sports programming such as ours. Merger synergies will expand variety and more unique content currently unavailable anywhere else."

-- Cal Ripken Jr., Baseball Hall of Famer and Co-Host, Ripken Baseball

For more information on the SIRIUS-XM merger, please visit 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, June 30, 2007 and September 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.

SIRIUS
Media Relations
Patrick Reilly
212-901-6646
PReilly@siriusradio.com

Kelly Sullivan
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
ksullivan@joelefrank.com

XM
Media Relations
Nathaniel Brown
212-708-6170
Nathaniel.Brown@xmradio.com

Chance Patterson
202-380-4318
Chance.Patterson@xmradio.com

First Call Analyst:
FCMN Contact: gross@joelefrank.com


Source: SIRIUS; XM

CONTACT: Media Relations, Patrick Reilly of SIRIUS, +1-212-901-6646,
PReilly@siriusradio.com, or Kelly Sullivan of Joele Frank, Wilkinson Brimmer
Katcher for SIRIUS, +1-212-355-4449, ksullivan@joelefrank.com; or XM, 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.siriusmerger.com/
http://www.xmmerger.com/
http://www.sirius.com/
http://www.xmradio.com/


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