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To: RockyBalboa who wrote (10838)	3/4/2003 12:20:07 PM
From: ALTERN8	Respond to of 48461

Reuters Sirius Satellite holders OK debt-for-equity plan Tuesday March 4, 12:08 pm ET NEW YORK, March 4 (Reuters) - Satellite radio company Sirius Satellite Radio Inc. (NasdaqNM:SIRI - News) on Tuesday said its stockholders approved its $1.2 billion recapitalization proposal. The company said stockholders voted at its special meeting to approve transactions to exchange about $700 million in debt for common stock, $519 million in preferred stock for common stock and warrants. The company will also provide $200 million in additional cash through the sale of newly-issued common stock. Sirius said its stockholders also voted to increase the authorized shares of common stock to 2.5 billion from 500 million. The proposed restructuring is subject to the successful completion of its debt exchange offer, which will expire on Tuesday.