" XM Satellite Radio Inc., an emerging force in broadcasting, was incorporated in 1992 and is a wholly owned subsidiary of XM Satellite Radio Holdings Inc. XM is publicly traded on the NASDAQ exchange since October 5, 1999. XM's founding was prompted by the radio industry's first major technological change since the popularization of FM radio in the 1970s: the creation of a third broadcast medium, transmitted by satellite, now taking its place alongside AM and FM on the radio dial. One of only two companies with a license for this new national audio service, XM has assembled a "dream team" of creative radio professionals and a management team committed to leading the world into the next generation of radio. XM's 2008 lineup includes more than 170 digital channels of choice from coast to coast: the most music in satellite radio, including 69 commercial-free music channels and exclusive live concerts and original programming, plus premier sports, talk, comedy, children's and entertainment programming; and 21 channels of 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 more than 140 different vehicle models for 2008. XM's industry-leading products from manufacturers such as Delphi, Pioneer, Audiovox and Yamaha, among others, are available at electronics retailers nationwide including Walmart, Best Buy, Circuit City, Sears and participating independent dealers. In addition to our corporate headquarters and broadcast facilities in Washington, D.C., XM has broadcast facilities in New York, Chicago, and Nashville, and additional offices in Deerfield, FL; Novi, MI; and Yokohama, Japan. "

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