XM Radio Closes $235 Million Financing Deal

Now Fully Funded Through Commercial Launch

10-Aug-00

XM Satellite Radio Inc. (NASDAQ: XMSR), a new band of radio, closed its $235 million financing deal announced in July, thus completing its funding through commercial launch of its revolutionary nationwide satellite radio service. As part of the transaction, American Honda Motor Co. Inc. has joined General Motors, DIRECTVÆ Enterprises Inc., Clear Channel Communications and Motient Corporation (NASDAQ: MTNT) as a key strategic investor in XM. The investor group, led by AEA Investors Inc., also includes Madison Dearborn Partners, Baron Asset Funds, DIRECTV and Columbia Capital, LLC, which will purchase newly issued preferred stock in the company. First there was AM, then FM and soonÖ XM Satellite Radio. For more information, visit XM Radio's Web site at www.xmradio.com.

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