Sirius Files $500 Million Shelf Registration With SEC

SIRIUS SATELLITE RADIO
Sirius Satellite Radio is building a digital satellite radio system that will broadcast up to 100 channels of music and entertainment programming to motorists throughout the continental United States. The company plans to offer 50 channels of commercial-free music and up to 50 channels of news, sports and entertainment programming for a monthly subscription fee of $9.95. (PRNewsFoto)[KI]
NEW YORK, NY USA 11/18/1999

    NEW YORK, July 2 Sirius Satellite Radio ,
the satellite radio broadcaster, today announced it filed a $500 million shelf
registration with the Securities and Exchange Commission.  Sirius will use the
proceeds of future sales of the securities for general corporate purposes,
including working capital.
    (Logo:  http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125 )
    "Currently we have more than enough cash to take us through the third
quarter of 2002.  We filed this shelf registration statement to allow us the
flexibility to access the capital markets in the future; however, the company
does not intend to issue securities at this time," said John Scelfo, Chief
Financial Officer of Sirius.
    From its three orbiting satellites, Sirius will directly broadcast up to
100 channels of digital-quality radio to motorists throughout the continental
United States for a monthly subscription fee of $12.95.  Sirius will deliver
50 channels of commercial-free music in virtually every genre, and up to 50
channels of news, sports, talk, comedy and children's programming.  Sirius'
broad and deep range of almost every music format as well as its news, sports
and entertainment programming is not available on conventional radio in any
market in the United States.
    Sirius-ready radios, tuner modules and adapters that allow any car radio
to receive Sirius broadcasts, as well as home and portable products, will be
manufactured by Clarion, Kenwood, Jensen and Panasonic, and made available to
consumers at retailers such as Circuit City, Best Buy, Good Guys, Tweeter and
Crutchfield.  Sirius also has alliances to install AM/FM/SAT radios in Ford,
Chrysler, BMW, Mercedes, Mazda, Jaguar and Volvo vehicles as well as
Freightliner and Sterling heavy trucks.

    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 Sirius' Annual Report on Form 10-K for the year
ended December 31, 2000.  Among the key factors that have a direct bearing on
Sirius' results of operations are the unavailability of radios capable of
receiving Sirius' service and Sirius' dependence upon third parties to
manufacture and distribute them; the potential risk of delay in implementing
Sirius' business plan; the unproven market for Sirius' service; and Sirius'
need for additional financing.