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SIRIUS AND XM COMPLETE MERGER

SIRIUS AND XM COMPLETE MERGER

SIRIUS XM Radio Chosen as New Corporate Name

Combined Company Has Over 18.5 Million Subscribers, Annualized Second Quarter Revenue Exceeding $2.4 Billion

Company to Offer Consumers Best of Both Services, While Maximizing Significant Efficiencies

SIRIUS XM Reiterates Financial Guidance; Expects 2009 Synergies of $400 million and 2009 Adjusted EBITDA of over $300 Million

NEW YORK, NY – July 29, 2008 –SIRIUS Satellite Radio (NASDAQ: SIRI) and XM Satellite Radio today announced that they have completed their merger, resulting in the nation's premier radio company. The new company plans to change its corporate name to Sirius XM Radio Inc. The combined company's stock will continue to be traded on the Nasdaq Global Select Market under the symbol "SIRI".

SIRIUS XM Radio begins day one with over 18.5 million subscribers, making it the second-largest radio company, based upon revenue, in the country; and, based upon subscribers, the second largest subscription media business in the U.S. With under 10% penetration of the home and car market, the opportunity for continued growth is significant.

"I am delighted to announce the completion of this exciting merger between SIRIUS and XM," said Mel Karmazin, CEO of SIRIUS XM Radio. "We have worked diligently to close this transaction and we look forward to integrating our best-in-class management teams and operations so we can begin delivering on our promise of more choices and lower prices for subscribers."

"Every one of our constituencies is a winner. Combined, SIRIUS XM Radio will deliver superior value to our shareholders. By offering more compelling packages and the best content in audio entertainment, we are well positioned for increased subscriber growth. Our laser focus on subscribers will continue and listeners can be assured that there will be no disruption in service. We also believe that the completion of the merger will eliminate any confusion that has been lingering in the marketplace," added Karmazin.

XM shareholders will receive 4.6 shares of SIRIUS common stock for each share of XM.

Competitive New Options for Consumers

SIRIUS XM Radio broadcasts more than 300 channels of programming, including exclusive radio offerings from Howard Stern, Oprah, Opie & Anthony and Martha Stewart, among others. SIRIUS XM Radio will offer these expanded options to consumers through arrangements with the world's leading automakers and its relationships with nationwide retailers.

As a result of the merger, SIRIUS XM Radio will also be able to offer consumers new packages in audio entertainment, including the first-ever a la carte programming option in subscription media. In addition to two a la carte options, the new packages will include: "Best of Both," giving subscribers the option to access certain programming from the other network; discounted Family Friendly packages; and tailored packages including "Mostly Music" and "News, Talk and Sports." The first of the new packages will be available in the early Fall.

"One of the most exciting benefits of this transaction is the ability to offer subscribers the option of expanding their subscriptions to include the Best of Both services. Given the respective popularity of exclusive programming on both SIRIUS and XM, we expect many subscribers will upgrade their current subscription," said Karmazin.

"The upside potential for both consumers and shareholders is huge. Consumers have the ease of adding premier programming without purchasing a new device. For shareholders, this kind of organic growth is a key part of the company's future and the success we expect to see," said Karmazin.

As promised when the merger was first announced, existing radios will continue to work and every subscriber has the option of maintaining their current service package.

Benefits for Shareholders Begin Immediately, Integration Already Under Way

SIRIUS XM Radio expects to begin realizing the synergies expected from this transaction immediately.

"In addition to realizing significant potential revenue growth, the management team will move quickly to capitalize on the synergies that many analysts have predicted for this combination. We expect to begin achieving those synergies without sacrificing any of the world-class programming and marketing we are known for," said Karmazin.

The company today also reiterated guidance for the combined SIRIUS XM Radio. Based upon a preliminary analysis, the combined company expects to realize total synergies, net of the costs to achieve such synergies, of approximately $400 million in 2009; to post adjusted EBITDA exceeding $300 million in 2009; and to achieve positive free cash flow, before satellite capital expenditures, for the full year 2009. The company also expects that both synergies and adjusted EBITDA will continue growing beyond 2009.

"We have all the tools necessary to begin executing as a combined company with high aspirations for subscriber growth and greater financial performance in part from the significant synergies that we begin realizing literally today – on Day One. We are moving quickly to integrate the operations," said Karmazin.

The corporate headquarters will be located in New York, NY and XM Satellite Radio, the company's wholly-owned subsidiary, will remain headquartered in Washington, DC.

Effective after the close of the market yesterday, trading in XMSR common stock on the Nasdaq Global Select Market ceased.

About SIRIUS XM Radio

SIRIUS XM Radio is America's satellite radio company delivering the "The Best Radio on Radio" to more than 18 million subscribers, including 100% commercial free music, and premier sports, news, talk, entertainment, traffic and weather.

SIRIUS XM Radio has exclusive content relationships with an array of personalities and artists, including Howard Stern, Oprah, Martha Stewart, Jimmy Buffett, Elvis, Jamie Foxx, Barbara Walters, Frank Sinatra, Opie & Anthony, The Grateful Dead, Willie Nelson, Bob Dylan, Dale Earnhardt Jr., Tom Petty, and Bob Edwards. SIRIUS XM Radio is the leader in sports programming as the Official Satellite Radio Partner of the NFL, Major League Baseball, NASCAR, NHL, and PGA, and broadcasts major college sports.

SIRIUS XM Radio has exclusive arrangements with every major automaker. SIRIUS XM Radio products are available at shop.sirius.com and shop.xmradio.com, and at retail locations nationwide, including Best Buy, Circuit City, RadioShack, Target, Sam's Club, and Wal-Mart.

SIRIUS XM Radio also offers SIRIUS Backseat TV, the first ever live in-vehicle rear seat entertainment featuring Nickelodeon, Disney Channel and Cartoon Network; XM NavTraffic service for GPS navigation systems delivers real-time traffic information, including accidents and road construction, for more than 80 North American markets.

The guidance contained herein are based upon a number of assumptions and estimates that, while considered reasonable by us when taken as a whole, are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, the guidance is based upon specific assumptions with respect to future business conditions, some or all of which will change. The guidance, like any forecast, is necessarily speculative in nature and it can be expected that the assumptions upon which the guidance is based will not prove to be valid or will vary from actual results. Actual results will vary from the guidance and the variations may be material. Consequently, the guidance should not be regarded as a representation by SIRIUS or any other person that the synergies, adjusted EBITDA and free cash flow will actually be achieved. You are cautioned not to place undue reliance on this information.

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 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, 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.

G-SIRI

Contacts for SIRIUS XM Radio:

Media Relations

Patrick Reilly
212-901-6646
PReilly@siriusradio.com

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

Nathaniel Brown
212-708-6170
Nathaniel.Brown@xmradio.com

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

Investor Relations

Paul Blalock
212-584-5174
PBlalock@siriusradio.com

Hooper Stevens
212-901-6718
HStevens@siriusradio.com

Joe Wilkinson
202-380-4008
Joe.Wilkinson@xmradio.com

Richard Sloane
202-380-1439
richard.sloane@xmradio.com

Manage your team's energy

From: Dr. June Darling

When I've talked about this to dentists. They feel it's so unfair that they should be the manager of team energy, but here's a good article that may convince you to at least consider your emotions as contagious as work (and everywhere in your life), but especially important to consider if you want energetic, productive workers. j.

 

Manage Your Team's Energy, Not Just the Work

Posted: 13 Aug 2008 11:15 PM CDT

Following is a excerpt from our upcoming book "Profit From the Positive: What Every Business Leader Needs to Know From the New Science of Positive Psychology."

~ Margaret Greenberg (Bio, Articles) and Senia Maymin (Bio, Articles)

Germs and colds aren't the only things we spread in the workplace. Our emotions, both positive and negative, are just as contagious. Have you ever walked into a meeting and felt so much tension that you became tense, too? Conversely, have you ever walked into someone's office and felt so much openness that you started to feel more open and welcoming as well? This spreading of emotions from one person to the next is what psychologists call Social Contagion Theory. Here's how it works.

Human beings are hard-wired to mimic the facial expressions and moods of those we come in contact with. Sigal Barsade, associate management professor at the University of Pennsylvania's Wharton School, claims we can unconsciously "catch" both good and bad moods. And you can "catch" these emotions in a matter of milliseconds according to Elaine Hatfield, psychology professor at the University of Hawaii and co-author of Emotional Contagion.

Researchers at Uppsala University in Sweden showed people pictures of both happy and angry faces for a fraction of a second and observed how people reacted. When participants looked at pictures of happy faces, their own facial expressions mirrored the picture – they responded with a smile. Similarly when participants viewed pictures of angry faces, they responded with a frown.

According to Hatfield, incremental muscle movements, like the smile or the frown, actually trigger the brain to feel that emotion. For example, when we feel happy our brain sends us a message: smile. But it works the other way, too. When we see someone else smile our brain sends us another message: smile. This very act of smiling sends another message to our brain, telling us to feel happy. So maybe our mothers were really on to something when they told us to quit mopping around and "put on a happy face."

So what does this have to do with managing your team's energy? Your own emotions have more influence over your team's energy level and subsequent productivity than perhaps you realize.

Carlos arrives at the office at 7:45 sharp every day. Two of his employees, Rachel and Mike, like to get in around 7:00 so they can grab a cup of coffee, catch up on emails, and get ready for the day ahead. Every morning they look up from their desks as Carlos walks in. Rachel and Mike have an inside joke:

"We can tell what kind of day it's going to be around here by Carlos' morning expression. If he smiles and says 'good morning' we know it's going to be a good day, and we can get on with our work. If his head is down and doesn't even acknowledge us, we know it's going to be a bad day and we better be ready to jump at a moment's notice. When our teammates arrive around 8:00, they stop by our desks and ask, 'So what kind of day is it going to be?' and they're not talking about the weather."

Researchers at the University of Michigan found that when business leaders were in a good mood, their team members experienced more positive and fewer negative moods. Additionally, if the boss is in a good mood, the team finds it much easier to accomplish their tasks. Remember if you manage or lead others, your moods are even more contagious! Think of it this way: a manager's negative moods are like spreading a cold, maybe even a flu, in the office. Do you really want people at work feeling lousy and having declining productivity? Or do you want to pay attention to your non-verbal behavior, and be aware of how people "catch" your emotions?

 

June Darling, Ph.D
Executive Coach and Consultant
for Maverick-Minded Professionals
www.summitgroupresources.com
providing the resources to bring out the best in you and your business

"If your actions inspire others to dream more, learn more, do more and become more, you are a leader." John Quincy Adams

First Annual Scoot tour of Southern New England!

I uploaded some photos of the First Scoot Tour of Southern New England hosted by Vespa Hartford. http://www.VespaHartford.com

You can view the entire album online at http://s513.photobucket.com/albums/t337/drmikemaroon/Scoot%20Tour%202008/?albumview=grid


All lined up and ready to roll!


Michelle gives the signal that she's ready to go!


All Pat needs is a coke bottle, some dental floss and an old napkin and he can make an atomic bomb, or change oil, whichever he feels like doing at the time...kind of like MacGuyver!


Howie helps by siphoning oil out of Michelle's bike to get her back on the road while some patient fellow scooterists watch and say to themselves, "I'm glad it's not my bike!"


Some Suzuki Bergman 400s made the trip...


Everyone enjoys when someone elses bike breaks down!


It's a good time for a chat...and to check out the BIG RUCKUS!


We had a nice group for this ride.


Nice shot of a Vespa GTS250ie and a Kymco People 200


Some more scoots...Doug's suped up orange ET4 is in the front.


STELLA'S


Leader of the Vesperados!


We got caught in a downpour and everyone tries to hide under the gas station canopy.


Enjoying lunch (and some dry time) in Bennington, VT.


Enjoying lunch (and some dry time) in Bennington, VT.

Scooters Rule!

I love this Italian video showcasing vintage scooters enjoying life! Enjoy!

Toyota Targets Segway With Winglet Personal Transportation

Tokyo — TOYOTA MOTOR CORPORATION (TMC) announced today development of the "Winglet", a personal transport assistance robot ridden in a standing position.




The Winglet—still being refined—is one of TMC's people-assisting Toyota Partner Robots. Designed to contribute to society by helping people enjoy a safe and fully mobile life, the Winglet is a compact next-generation everyday transport tool that offers advanced ease of use and expands the user's range of mobility.




The Winglet consists of a body (with a projected area the size of an A3 sheet of paper) that houses an electric motor, two wheels and internal sensors that constantly monitor the user's position and make adjustments in power to ensure stability. Meanwhile, a unique parallel link mechanism allows the rider to go forward, backward and turn simply by shifting body weight, making the vehicle safe and useful even in tight spaces or crowded environments.




TMC has created three models, the "L", "M" and "S", each having different handling features that allow consumers to select a model appropriate to their needs—from "practical" to "hands-free sporty".




TMC plans various technical and consumer trials to gain feedback during the Winglet's lead-up to practical use. Practical tests of its utility as a mobility tool are planned to begin in Autumn 2008 at Central Japan International Airport (Centrair) near Nagoya, and Laguna Gamagori, a seaside marine resort complex in Aichi Prefecture. Testing of its usefulness in crowded and other conditions, and how non-users react to the device, is to be carried out in 2009 at the Tressa Yokohama shopping complex in Yokohama City.




TMC is pursuing sustainability in research and development, manufacturing and social contribution as part of its concept to realize "sustainability in three areas" and to help contribute to the health and comfort of future society. Toyota Partner Robot development is being carried out with this in mind and applies TMC's approach to monozukuri ("making things"), which includes its mobility, production and other technologies. In a related development, TMC unveiled the "MOBIRO" mobility robot, designed for use in a sitting position, in 2007.




TMC aims to realize the practical use of Toyota Partner Robots in the early 2010s by furthering its robotic development and strengthening collaboration between industry, government and academia.

Visit http://www.toyota.co.jp/en/news/08/0801_1.html for more details.