Second Quarter Marks Fifth Consecutive Record For OEM Gross Additions

XM Satellite Radio Holdings Inc. today announced
preliminary results for the second quarter of 2008. XM added 322,000
new net subscribers in the second quarter of 2008 for a total of
9,653,000 subscribers, a 17 percent increase in subscribers since the
end of the second quarter of 2007. Total gross additions for the
quarter were 1,081,000, including a record 857,000 OEM gross additions,
the fifth consecutive quarter of record OEM gross additions, and
224,000 retail gross additions.

Second quarter 2008 churn improved to 1.67 percent, compared to both
second quarter 2007 churn of 1.84 percent and to first quarter 2008
churn of 1.77 percent. XM also announced that subscription revenue for
second quarter 2008 is expected to be in the range of $283 million to
$288 million and that the second quarter 2008 adjusted operating loss
is expected to be in the range of $32 million to $38 million (excluding
the impact of any FCC settlement). Conversion rate for promotional
subscribers is expected to be in the range of 52.7 percent to 53.4
percent.

XM announced its preliminary results in connection with XM and
Sirius’s merger-related offering of senior notes, announced separately
today. XM’s independent accountants have not completed their review of
the second quarter financial information and XM is still in the process
of completing its normal quarter-end closing process. Accordingly,
actual results may vary from the above amounts and such variance could
be material. The company expects to file its 10-Q report for the second
quarter 2008 in the next few days.

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