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XM Satellite: 145K New Subcribers In Q4

1/10/2003 05:08:00 PM Eastern

Las Vegas - XM Satellite Radio reported new activations for the calendar fourth quarter soared 72 percent over the previous quarter, with 145,000 new subscribers.

XM president/CEO Hugh Panero said, 'We had a huge holiday season and we hit these numbers despite a soft retail economy.' He added XM buoyed car audio sales in general, with CEA estimating total 2002 car audio growth at 4 percent to 7 percent.

'We represented a quarter of that. We would like to report next year that we helped home audio growth as well,' Panero said, in reference to the company's new push to bring satellite radio into the home and portable audio markets.

XM said its calendar fourth quarter results represented five times the activations of the same quarter in 2001.

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