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XM Names New President/COO

7/24/2006 08:59:00 AM Eastern

Washington — XM Satellite Radio announced the appointment of Nate Davis to the newly created position of president/COO, while Hugh Panero remains CEO.

Davis was formerly technical operations executive VP at Nextel and chief financial officer of MCI. Recently he served as president/COO of XO Communications, a $1.38 billion integrated business communications provider of voice, data, Internet access and Web hosting.

Davis has been a member of XM’s board of directors since 1999. “I know first hand the kind of action-oriented, business leadership that Nate will bring to his new role,” said Panero. “He has a truly impressive track record in operational management and a unique background in finance, technology, and launching new and innovative products. I can't think of anyone better qualified to help take XM to the next level."

Davis received his MBA from the Wharton School at the University of Pennsylvania, his Masters in Engineering Computer Science at the Moore School at Penn, and a Bachelors of Engineering from Stevens Institute of Technology in New Jersey.