Sirius Announces New Director
Sirius Announces New Director
Former CEO of DaimlerChrysler, James P. Holden, Joins Sirius Board NEW YORK, Aug. 27 Sirius Satellite Radio , the satellite radio broadcaster, today announced that James P. Holden has joined its Board of Directors. (Logo: http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125 ) James P. Holden, age 50, was President and CEO of DaimlerChrysler Corporation, one of the world's largest automakers. Prior to being appointed President in 1999, Mr. Holden held numerous senior positions at DaimlerChrysler during his 19-year career with the company. "We are very pleased to welcome Jim to the Board," said David Margolese, Sirius Chairman and Chief Executive. "His years of experience and expertise in the auto industry are a valuable asset to us as we continue to build on our strong automotive partnerships." "I am proud to be associated with what certainly will become the premium satellite radio service to the auto industry," said James Holden. "I fully expect Sirius, which has been crafted with the precision and integrity of a Swiss watch, to become an integral part of every American's driving experience." James Holden, together with Sirius existing directors, David Margolese, Leon Black, Lawrence Gilberti, Peter Peterson and Joseph Vittoria, will stand for reelection at Sirius 2001 Annual Meeting of Stockholders scheduled for November 20, 2001 at 1:30 p.m. at The McGraw-Hill Building, in The Auditorium, 2nd Floor, 1221 Avenue of the Americas, New York, New York 10020. Proposals for inclusion by stockholders in Sirius Proxy Statement for the 2001 Annual Meeting of Stockholders must be received by the company by September 14, 2001. About Sirius From its unique tri-satellite system orbiting directly over the U.S., Sirius (http://www.siriusradio.com) will 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 100% commercial-free music in virtually every genre, and up to 50 channels of news, sports, talk, comedy and children's programming. Sirius has exclusive alliances to install AM/FM/SAT radios in Ford, Chrysler, BMW, Mercedes, Jaguar, Volvo and Jeep(R) vehicles. Sirius-ready radios, and tuner modules that allow any car radio to receive Sirius broadcasts, as well as home and portable products, will also be manufactured by Kenwood, Panasonic, Clarion and Jensen, and made available at retailers such as Circuit City and Best Buy. 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, 2000. Among the key factors that have a direct bearing on our results of operations are the unavailability of radios capable of receiving our service and our dependence upon third parties to manufacture and distribute them; the potential risk of delay in implementing our business plan; the unproven market for our service; and our need for additional financing.
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