NEW YORK (Standard&Poor's) June 4, 2003--Standard&Poor's Ratings Services said today that Sirius Satellite Radio Inc.'s (CCC/Stable/--) proposed offering of 75 million shares of common stock, which would raise about $176 million in gross proceeds based on the June 3 closing price, does not affect the company's ratings or outlook. The equity injection would improve liquidity; however, ratings continue to reflect concern about Sirius' slow progress in executing its business plan and the ultimate demand for pay radio. This rating(s) was initiated by Standard&Poor's Ratings Services. It may be based solely on publicly available information and may or may not involve the participation of the issuer's management. Standard&Poor's Ratings Services has used information
