CPB Funds AM Research Program

Washington - May 7, 2004 - CPB has announce the AM Technical Ascertainment Project, a special CPB-funded program for all AM stations operated by CPB-qualified licensees. For those that sign up, the new program will provide a qualified engineer to ascertain the electrical condition of the AM station and its readiness for conversion to IBOC. The analysis will use a calibrated network analyzer to develop a report on transmission symmetry and bandwidth. The examinations will provide a whole-system analysis with the ultimate goal of helping the station create the greater bandwidth required for successful IBOC operation and analog operation.

While participation in the project is voluntary, eligible stations are encouraged to take advantage of this free technical assessment, regardless of the station's plan to implement IBOC in the near future.

Individual reports will be provided to participating stations that deliver key items of information.

• Existing performance criteria in relationship to the Ibiquity-recommended desirable characteristics of load impedance bandwidth (a Smith chart will be prepared) and far-field radiation pattern bandwidth.

• Directional antenna parameter measurements (day and night).

• Recommendations for implementation of digital transmission.

Reports will also include suitable photographs, particularly of questionable or troublesome equipment or installations; a comprehensive checklist for each site detailing significant physical and mechanical characteristics; a description of any observable ground system deficiency or impairment, site restriction or tower location feature that might be a detriment to proper performance; a line-drawing diagram of the existing feed system; and recommendations for phase rotation adjustments or phase shift networks (including part values).

XM Increased Subscribers and Loss

Washington D.C. - May 6, 2004 - According to its financial and operating results for the first quarter ended March 31, 2004, XM Radio has increased its subscriber base by 321,675 for a total of 1,681,903 subscribers. This increase represents an incrase that is more than double the net subscriber additions in first quarter 2003 (135,916 subscribers ).

However, XM's net loss for the first quarter was $170.1 million as compared to a $126.3 million net loss in the first quarter 2003. And XM recorded an EBITDA loss of $78 million for the first quarter 2004, compared to $63.3 million for the first quarter 2003.

Overall, XM's revenue for the first quarter 2004 grew about 30 percent from fourth quarter 2003 revenue of $33.5 million. Fixed expenses were $37.1 million for the quarter, which marks the first time XM quarterly revenues have exceeded fixed expenses.