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XM(tm) also signs agreement with STMicroelectronics

to provide chip SETS for radios

XM Satellite Radio Inc. today announced agreements with leading radio manufacturers, bringing satellite radio a giant step closer to American consumers and paving the way for the first innovation in radio since the introduction of FM 40 years ago. Hugh Panero, President and CEO of XM, announced that the company has signed agreements with Alpine Electronics, Inc., Pioneer Electronic Corporation, and the Sharp Corporation to manufacture and distribute XM-capable radios and audio systems for the U.S. market. This equipment will enable consumers to receive XM's coast-to-coast, multi-channel, satellite-delivered digital radio service. In addition, STMicroelectronics, the world's leading supplier of solid-state devices to car radio manufacturers, will design, build and market computer chips to process the digital signal for these new XM radios.

"Tuning in XM Satellite Radio became very real today," said Mr. Panero. "These are the first announced U.S. manufacturing agreements for satellite radio, and I am very proud of XM's partnerships with the world's leading radio and audio-system manufacturers and leading car computer chip maker. First, there was AM, then FM and, with the help of these great companies, we will offer XM in the year 2000 and together revolutionize radio."

Under these agreements, Alpine and Pioneer, which together represent more than one-third of 1997 total car radio after-market sales, will design, build and distribute XM radios for the automobile market. Sharp, one of the world's leading makers of MD-related products and one of world's premier home audio manufacturers will provide XM audio systems for the home market. These radios and audio systems will be able to receive AM, FM and XM broadcasts, and possess other features such as CD players.

"These are our most significant announcements to date," commented Mr. Panero, who has made a series of major announcements since taking the company's leadership reins in June 1998.

# posted by Medical Information : 4:29 AM