Details of XM Satellites' Payments to GM

NEW YORK, April 20, 2006; Reuters reported that XM Satellite Radio Holdings on Thursday said it had reached an agreement with General Motors Corp. to pay in advance about $240 million to retire payment obligations as part of a debt overhaul.

The agreement allows XM to retire about $320 million of payments that were scheduled to become due between 2007 and 2009.

XM said its senior secured credit facility with GM would increase to $150 million from $100 million, while its ability to make certain payments using up to $35 million in stock will be eliminated.