Opie & Anthony Return To CBS Radio Beginning Wednesday, April 26

Unprecedented Agreement Between CBS RADIO and XM Satellite Radio Provides Opie & Anthony with Dual Platform, Including Exclusive Show On XM

Washington D.C., April 24, 2006 -- CBS RADIO and XM Satellite Radio (Nasdaq: XMSR) today announced an unprecedented agreement that will mark the return of OPIE AND ANTHONY (Gregg “Opie” Hughes and “Anthony” Cumia) to CBS RADIO stations in seven major markets - New York, Dallas, Philadelphia, Boston, Pittsburgh, Cleveland and West Palm Beach - beginning on Wednesday, April 26.
Under the terms of the agreement, CBS Radio will broadcast a three-hour version of the popular Opie & Anthony show on their stations from 6:00-9:00AM, ET each weekday morning (3:00-6:00PM, ET in Cleveland). This show will originate from CBS RADIO’s WFNY-FM 92.3 FREE FM studio in New York and be simulcast on XM uncensored. Opie and Anthony will continue to broadcast from 9:00-11:00AM, ET exclusively for XM’s more than 6.5 million subscribers live from their current XM studio in New York.

Additionally, CBS RADIO stations in New York, Dallas and Philadelphia will stream the three-hour show online at www.923freefm.com, www.1053freefm.com and www.941freefm.com, respectively. Financial terms of the agreement were not disclosed.

“With the combination of XM and CBS RADIO, we now have the best gig in the business. The O & A Show is going to be bigger and better than ever,” said Gregg “Opie” Hughes.

“We’ll now be able to reach millions of new fans and old fans with our new morning show on CBS while offering our loyal XM listeners an uncut show and two extra hours that will only be available on XM,” said Anthony Cumia.

“Opie and Anthony have proven their determination to succeed in this business, and have a relationship with their audience that is second to none in the industry,” said Joel Hollander, Chairman and Chief Executive Officer, CBS RADIO. “CBS RADIO is well known for having among its portfolio some of the best brands in radio, and it’s great to have O&A among that stable again. Loyal listeners of O&A have grown accustomed to a show that’s real and entertaining. As we move forward, we do so with confidence that this new enterprise will continue in that same spirit.”

“XM’s agreement with CBS RADIO is a big win for everyone,” said Hugh Panero, President and CEO, XM Satellite Radio. “Opie & Anthony will now reach millions of new listeners and will continue to entertain the more than 6.5 million XM subscribers who have made their exclusive show on XM one of our most popular. XM is committed to creating the best content in radio and today’s announcement is an example of how we’re able to leverage it in a variety of ways that help build our business.”

Opie and Anthony will be heard on the following CBS RADIO stations:

New York - WFNY 92.3
Dallas - KLLI 105.3
Philadelphia - WYSP 94.1
Boston - WBCN 104.1
Pittsburgh - WRKZ 93.7
Cleveland - WXRK 92.3
West Palm Beach - WPBZ 103.1
Gregg “Opie” Hughes and Anthony Cumia joined XM Satellite Radio in 2004. Since their satellite radio debut in October 2004, the talk duo have become one of the most popular programs on XM’s lineup. Hughes and Cumia first teamed up in 1994 hosting an evening program for WBAB-FM in Long Island, NY. In early 1995, the duo moved to WAAF-FM in Worcester, MA, where they began hosting “Opie and Anthony Show” in the afternoons and became one of the Boston market’s most popular radio shows. The team left Boston in 1998 and moved to New York’s WNEW-FM, where they became the number one afternoon drive show. Their show was syndicated to 22 markets around the country.

About CBS RADIO
CBS RADIO is one of the largest major-market operators in the United States with stations covering news, alternative rock, country, FM talk, classic rock, oldies, JACK and urban formats, among others. A division of CBS Corporation, CBS RADIO operates 179 radio stations, the majority of which are in the nation’s top 50 markets. CBS RADIO also has made aggressive moves to converge new and traditional media through creative programming and advanced delivery methods, including online streaming, HD Radio and podcasting. In May 2005, CBS RADIO launched the world’s first podcast programmed radio station, KYOURADIO. Additionally, CBS Radio is home to 29 of the country’s leading sports franchises amongst MLB, the NFL, the NBA, the WNBA and the NHL, including the New York Yankees, New York Mets, Chicago White Sox, New England Patriots, New York Giants, Chicago Bears and the Detroit Red Wings. For more information on CBS RADIO, please visit www.cbsradio.com.

About XM Satellite Radio
XM is America’s number one satellite radio service with more than 6.5 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 and Volkswagen/Audi, is available in more than 130 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 3-3-06. Copies of the filing are available upon request from XM Radio’s Investor Relations Department.

Contact Information

Nathaniel Brown

XM Contact

XM Satellite Radio

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