Bob Dylan To Premiere New Album, Modern Times, On XM Satellite Radio August 28

Select Retailers to Offer Bonus Disc of Dylan’s “Theme Time Radio Hour” Show on XM

Washington D.C., August 15, 2006 -- Bob Dylan will premiere his new album August 28 on XM Satellite Radio, the nation’s leading satellite radio service with more than 7 million subscribers, it was announced today by XM. XM subscribers will be able to hear Dylan’s first studio album in five years, Modern Times, the day before it’s released to the public. The world premiere will air at 12 midnight ET on XM’s Deep Tracks (XM 40), The Village (XM 15) and Hear Music (XM 75), with encores also airing on these channels throughout the day at 6 a.m., 12 noon and 7 p.m. (all times ET).

Additionally, XM will make the world premiere of Modern Times available through simulcast to select partners that feature XM channels, including AOL, DirecTV, AirTran Airways and JetBlue.

“Modern Times is an amazing record that is sure to strike a chord with music fans everywhere. We at XM are honored to help Bob’s music reach the passionate fans that have made his weekly XM show, ’Theme Time Radio Hour,’ a runaway success,” said Lee Abrams, chief creative programming officer, XM Satellite Radio. “In addition, through our strategic partnerships, the XM world premiere of Modern Times will reach millions more.”

Beginning with the record’s release on Tuesday, August 29, fans who purchase a copy of Modern Times at select retailers, including Circuit City stores, and any other Bob Dylan CD will receive a bonus disc featuring the popular “baseball” episode of Dylan’s “Theme Time Radio Hour,” which airs exclusively on XM. In addition to baseball-themed songs, the one-hour episode also contains Dylan singing an a cappella rendition of “Take Me Out to the Ball Game.” In June, the National Baseball Hall of Fame and Museum announced the addition of the “Theme Time Radio Hour” baseball episode to its archives.

Following the world premiere and CD release, XM will air a “Theme Time Radio Hour” marathon, broadcasting every episode of Dylan’s “Theme Time Radio Hour” back-to-back, beginning September 1 at 6 p.m. ET on The Village (XM 15), continuing through until 12 Midnight ET on September 4.

In May 2006, Bob Dylan’s exclusive radio show, “Theme Time Radio Hour,” debuted to popular and critical-acclaim on XM Satellite Radio. Each weekly show will feature an eclectic mix of music based around a theme, with host Bob Dylan offering stories about the music and topics of interest. New episodes of Dylan’s “Theme Time Radio Hour” premiere on XM’s Deep Tracks channel Wednesdays at 10 a.m. ET, with additional encores airing throughout the week. Complete show details are available online at http://www.xmradio.com/bobdylan.

Early critical response to Modern Times includes a forthcoming five-star review (out of five) in Rolling Stone, in which Joe Levy calls the record Dylan’s “third straight masterwork.” Robert Christgau writes in Blender that Modern Times is “Startling. Radiates the observant calm of old masters who have seen enough life to be ready for anything--Yeats, Matisse, Sonny Rollins.”

About XM Satellite Radio
XM (Nasdaq: XMSR) is America’s number one satellite radio service with more than 7 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, the Country Music Hall of Fame in Nashville, Toronto and Montreal, XM’s 2006 lineup includes more than 170 digital channels of choice from coast to coast: the most commercial-free music channels, sports, talk, comedy, children’s and entertainment programming; and the most advanced traffic and weather information.

XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Toyota, Hyundai, Nissan, Subaru, Suzuki and Porsche, is available in more than 140 different vehicle models for 2006. XM’s industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com.
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio’s service, the Company’s dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.’s Form 10-K filed with the Securities and Exchange Commission on 3-9-06. Copies of the filing are available upon request from XM Radio’s Investor Relations Department.

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