GM to Expand XM Satellite Radio Installs

DETROIT, january 14, 2003; The AP reported that -- General Motors Corp. said Tuesday it plans to offer XM Satellite Radio on 44 of its 57 GM models, or about 75 percent of its cars.

The news sent the satellite-radio company's shares surging.

Shares of XM Satellite Radio Holdings jumped 58 cents, or 19 percent, to close at $3.64, on the Nasdaq Stock Market.

The world's largest automaker said XM will be available on 44 GM models at the start of the 2004 model year.

The Detroit-based company began offering XM as a factory-installed option in 2002 Cadillac DeVilles and Sevilles.

For the 2003 model year, GM expanded to 25 car, truck and SUV models. Cadillac was the first division to offer XM across its entire product portfolio.

GM noted that it was the first auto maker to offer XM as a factory-installed option.

GM said the reaction of new vehicle buyers to XM "has been overwhelmingly positive."

XM Satellite Radio provides 101 coast-to-coast, digital-quality channels of music and talk. Consumers can subscribe to the basic service for $9.99 a month. GM customers with GMAC financing can choose to include the XM subscription in their car payments.

XM Satellite is provided by XM Satellite Radio Holdings Inc. of Washington, D.C.