Panasonic to Produce XM-Ready Car Stereos for the Nation's Trucking Fleets
WASHINGTON, May 17, 2004 -- XM Satellite Radio , the nation's leading provider of satellite radio, today announced that Panasonic, the world-renowned electronics brand, will produce XM-ready car stereo units for the nation's trucking fleets.
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Panasonic will manufacture two types of XM-Ready-AM/FM truck stereos, one with a CD player (CQ-5330) and one with a cassette tape player (CQ-4330).
"XM Radio is a must-have for truck drivers, and Panasonic is famous for producing high-quality, affordably-priced stereos for the trucking industry," said Dan Murphy, Senior Vice President, Product Marketing and Distribution, XM Satellite Radio. "This is ideal for both companies and the truckers who love XM."
"We're very pleased to provide our customers the depth of music and talk radio programming and the outstanding sound quality that XM Satellite Radio offers," said Rob Lopez, National Marketing Manager for Panasonic car audio products.
Panasonic's two XM-Ready truck stereo units will be compatible with the XM Direct tuner box. The units will be distributed by Pana Pacific Corporation, the nation's leading supplier of mobile electronics.
Pana Pacific will ship the Panasonic XM-Ready units to truck dealers in July. Pricing will be announced prior to shipping. Interested trucking fleets should contact Pana Pacific or their local dealers.
XM offers more than 120 digital radio channels of music and talk, including Open Road (XM Channel 171), a 24-hour channel devoted to truck drivers. Open Road boasts the nation's three leading trucker radio personalities: Bill Mack, Dave Nemo, and Steve Sommers. The channel also airs trucking news, NASCAR updates, special weather forecasts, music and transportation updates from the U.S. Department of Transportation. Plus, XM offers the exclusive NASCAR Radio (XM Channel 144), offering round-the-clock, year-round NASCAR racing action. With XM's coast-to-coast coverage, drivers can listen to their favorite XM Radio channels throughout the 48 contiguous states.
About XM Satellite Radio
In the fall of 2001, XM Satellite Radio pioneered the introduction of satellite radio in the U.S. Today, XM is America's #1 satellite radio service with more than 1.68 million subscribers. Broadcasting live daily from studios in Washington, D.C., New York City and Nashville, Tennessee at the Country Music Hall of Fame, XM's 2004 lineup includes more than 120 digital channels of choice from coast to coast: 68 commercial-free music channels, featuring hip hop to opera, classical to country, bluegrass to blues; 34 channels of premier sports, talk, comedy, children's and entertainment programming; and 21 channels of the most advanced traffic and weather information for major metropolitan areas nationwide. Affordable, compact and stylish XM satellite radio receivers for the home, the car, the computer and boom boxes for "on the go" are available from retailers nationwide. In addition, XM is available in more than 80 different 2004 car models. XM is a popular factory-installed option on more than 40 new General Motors models, as well as a standard feature on several top-selling Honda and Acura models. Passengers on JetBlue Airways and AirTran Airways will be able to listen to XM's programming in- flight later in 2004.
For more information about XM, visit http://www.xmradio.com/. About Panasonic
Panasonic Consumer Electronics Company, Division of Matsushita Electric Corporation of America, markets a broad line of digital and other consumer electronics products. Based in Secaucus, N.J., Matsushita Electric Corporation of America is the principal North American subsidiary of Matsushita Electric Industrial Co. Ltd. and the hub of Panasonic's U.S. marketing, sales, service and R&D operations. Additional information on Matsushita Electric Corporation of America and Panasonic is available at www.panasonic.com. Additional company information for journalists is available at www.panasonic.com/pressroom or through the company's toll-free fax-back system at 888-734-7490.
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for the Company's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-15-04. Copies of the filing are available upon request from XM Radio' s Investor Relations Department
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