Sirius and Panasonic Announce New Sirius Satellite Radio Products for Consumers

NEW YORK, July 23 Sirius Satellite Radio, the premier satellite radio broadcaster, today announced that Panasonic Consumer Electronics Company (PCEC), the consumer sales division of Matsushita Electric Corporation of America, will introduce Panasonic Sirius satellite receiver products for distribution in September.

Panasonic plans to market Panasonic Sirius satellite receiver products for distribution through retail stores, the commercial truck market and auto dealers across the country. Sirius and PCEC will each market Panasonic satellite radios through a variety of commercial programs, including advertising, retail and sales promotions.

The product line-up includes the CR-SRF 100 universal adaptor kit that enables any vehicle with an FM radio to receive the 60 commercial-free music and 40 news, sports and entertainment channels that Sirius broadcasts across the continental United States.

The line of top-quality Panasonic satellite radio products will provide the unique benefits of Sirius Satellite Radio, and such easy to use features as:

* Easy to read scrolling displays * 18 programmable preset channels * The ability to search channels by category * Displays showing information such as artist and song title, Sirius channel name and number

Panasonic/Sirius satellite receivers and adapter kits will be produced at Matsushita Communication Industrial Corporation of U.S.A.'s (MCUSA) world-class manufacturing facility located at Peachtree City, GA. The factory's production line will have an initial capacity of 350,000 units annually, which can be increased to more than one million units per year.

"Panasonic is one of the most recognizable brands in the world today," said Joseph P. Clayton, President and CEO of Sirius. "We are very excited about being associated with such a strong name, and are looking forward to bringing Panasonic branded satellite radio products to consumers across the United States."

"We believe there is a great market opportunity for Sirius Satellite Radio. Consumer demand is expected to grow dramatically over the next several years and Panasonic is committed to a leadership role in this new consumer electronics category," said Reid Sullivan, Vice President Merchandising, Entertainment Group, PCEC. "Our product selection, technology leadership and multi-faceted marketing programs are bound to increase awareness and enthusiasm for this exciting new product."

"Our satellite radio products will be built to the stringent requirements of both the automotive and retail channels of distribution, and will be highly valued by even the most demanding of consumers. We expect significant demand for these satellite radio products and for the Sirius service," said John B. Newman, Vice President, MCUSA. "We're also very excited about the audio performance we are receiving from the Sirius system. The fidelity and clarity are far superior to what people are accustomed to in AM or FM radio. We're convinced that once you listen to Sirius on a Panasonic system, it will be hard to go back to regular radio."

About Panasonic

Panasonic Consumer Electronics Company (PCEC) is the consumer electronics sales arm of its principal North American subsidiary, Matsushita Electric Corporation of America, one of the principal subsidiaries of Matsushita Electric Industrial Co., Ltd. , best known by its Panasonic brand name. Matsushita Electric Industrial is one of the world's leading developers and manufacturers of electronics for the home, workplace and in between.

Matsushita Communication Industrial Corporation of USA (MCUSA) is the Peachtree City, Georgia-based subsidiary of Matsushita Communication Industrial Co., Ltd., which is the major telecommunications, car audio and measurement instrument manufacturing subsidiary of Matsushita Electric Industrial.

About Sirius

From its three satellites orbiting directly over the U.S., Sirius broadcasts 100 channels of digital quality radio throughout the continental United States for a monthly subscription fee of $12.95. Sirius delivers 60 original channels of completely commercial-free music in virtually every genre, and 40 world-class sports, news and entertainment channels. DaimlerChrysler has announced plans to offer Sirius radios in 17 models of Chrysler, Dodge and Jeep vehicles beginning this fall. BMW has announced plans to offer Sirius radios as an accessory in its most popular models through BMW Centers across the country, including select BMW 3 Series, 5 Series and X5 vehicles. Nissan has announced plans to offer Sirius radios as an option this fall on six Infiniti and Nissan 2003 models, and future Audi and Volkswagen models will also offer Sirius. Sirius also has agreements to install AM/FM/SAT radios in Ford, Mercedes-Benz, Jaguar, Volvo and Mazda vehicles. Kenwood, Clarion, Audiovox, and Jensen satellite receivers, including models that can adapt any car stereo to receive Sirius, are available at retailers such as Circuit City, Best Buy, Good Guys, Tweeter, Ultimate Electronics and Crutchfield. Panasonic mobile satellite radio products will be available in the fall 2003.

Click on http://www.sirius.com to listen to Sirius live, or to find a Sirius retailer in your area.