And now for a few FACTS:
The amount reported includes 149,019,252 shares of Common Stock owned of record by Apollo Investment Fund IV, L.P. (“AIF
IV”) and 8,088,605 shares of Common Stock owned of record by Apollo Overseas Partners IV, L.P. (“Overseas IV”), after their
exercise of their respective Series A Common Stock Purchase Warrants and Series B Common Stock Purchase Warrants
(collectively, the “Warrants”) on January10, 2005. The Warrants were obtained on March7, 2003 in exchange for all of the shares
of convertible preferred stock of the issuer held by AIFIV and OverseasIV, and were exercised in a cashless exercise pursuant to
the terms of the Warrants by the surrender of right to exercise the Warrants for an aggregate of 5,878,185 additional shares of
Common Stock. Apollo Advisors IV, L.P. (“Advisors IV”) is the general partner of AIF IV and the managing general partner of
Overseas IV. Apollo Capital ManagementIV, Inc. (“Capital Management”) is the general partner of Advisors IV. Apollo
Management IV, L.P. (“Management IV”) is the Manager of AIF IV and Overseas IV. AIF IV Management, Inc. (“AIF IV
Management”) is the general partner of Management IV. Leon D. Black and John J. Hannan are directors and principal executive
officers of Capital Management and AIF IV Management. Advisors IV, Capital Management, Management IV, AIF IV
Management and Messrs. Black and Hannan and their affiliates disclaim beneficial ownership of all shares of Sirius Satellite Radio
Inc. owned by Overseas IV or AIF IV, except to the extent they have a pecuniary interest in such securities, if any, and this report
shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, any
such securities for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
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