14-1/2% Senior Secured Notes due 2009
NEW YORK, Aug. 8 - SIRIUS Satellite Radio (Nasdaq: SIRI) today announced that it has called for redemption all of its outstanding 15% Senior Secured Discount Notes due 2007 and 14-1/2% Senior Secured Notes due 2009. The notes will be redeemed on September 8, 2005. The 15% Notes will be redeemed at a price of 107.5% of the principal amount outstanding plus interest to the redemption date. The 14-1/2% Notes will be redeemed at a price of 104.833% of the principal amount outstanding plus interest to the redemption date.
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Notice of the redemption is expected to be mailed to holder of the notes by The Bank of New York, the trustee for the notes. This redemption is in accordance with the terms of the indentures under which the notes were issued.
About SIRIUS
SIRIUS delivers more than 120 channels of the best commercial-free music, compelling talk shows, news and information, and the most exciting sports programming to listeners across the country in digital quality sound. SIRIUS offers 65 channels of 100% commercial-free music, and features over 55 channels of sports, news, talk, entertainment, traffic and weather for a monthly subscription fee of only $12.95. SIRIUS also broadcasts live play-by- play games of the NFL and NBA, and is the Official Satellite Radio partner of the NFL.
SIRIUS radios for the car, truck, home, RV and boat are manufactured by Alpine, Audiovox, Blaupunkt, Clarion, Delphi, Jensen, JVC, Kenwood, Pioneer, 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, Costco, 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, Jaguar, Jeep(R), Land Rover, Lexus, Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Scion, Toyota, Porsche, Volkswagen and Volvo. Hertz currently offers SIRIUS at major locations around the country.
Click on http://www.sirius.com to listen to SIRIUS live, or to find a SIRIUS retailer or car dealer in your area.
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, 2004 filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our operational results are: our dependence upon third parties, including manufacturers of SIRIUS radios, retailers, automakers and programming partners, our competitive position and any events which affect the useful life of our satellites.
G-SIRI
Contacts for SIRIUS:
Jim Collins
Media
212-901-6422
jcollins@siriusradio.com
Michelle McKinnon
Analysts
212-584-5285
mmckinnon@siriusradio.com
Jaymie VanValkenburgh
Investors
212-584-5158
jvanvalkenburgh@siriusradio.com
