TROY, Mich., Oct. 17 /PRNewswire/ -- Today, Delphi the leader in satellite radio hardware with over 10 million radios sold and XM Satellite Radio, the leader in satellite radio service with over 7 million subscribers, announced the upcoming retail introduction of the newest Delphi satellite radio receiver, the SKYFi3. As the latest successor in the best-selling SKYFi family, the SKYFi3 is 65% smaller, yet maintains nearly every benefit of the previous generation product. In addition, SKYFi3 can also store and manage up to 10 hours of XM programming through non-removable internal memory, as well as an unlimited number of MP3 files through optional and removable Micro SD cards. Along with the largest 9 line display in its class and low-profile car dock that mounts vertically or horizontally, the SKYFi3 sets a new standard for plug-and-play systems. (Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO ) (Photo: http://www.newscom.com/cgi-bin/prnh/20061017/NYTU109 ) "SKYFi3 is an important addition to our award-winning line of XM radios ensuring Delphi will continue to be the preferred choice of consumers," stated Frank Ordonez, president, Delphi Product & Service Solutions. "As more subscribers realize the exceptional entertainment value XM has to offer, SKYFi3 maximizes their enjoyment and subscription value -- because it offers the optimum balance of compact size, screen readability, cutting-edge content management features and portability outside the vehicle." In today's fast-paced, multi-tasking world we live in, interruptions while listening to our favorite songs or TV programs are unavoidable. Like its predecessor, the SKYFi3 features a 30 minute Pause-Replay function that continuously and automatically saves the last 30 minutes of music, sports, comedy or talk -- regardless of whether the user changes channels. At any point during live listening, users can pause a song or program with a single button press. As long as playback resumes within 30 minutes, users can enjoy what they would have otherwise missed. The Delphi SKYFi3 can time-shift up to 10 hours of fresh and continuously updated XM programming on its non-removable internal flash memory. Recordings can be started anytime during the live listening mode or by using SKYFi3's scheduled recording feature. A subscription to XM must be maintained to listen to stored XM programming. SKYFi3 also offers the ability to store an unlimited number of MP3, WMA and WAV formatted files on optional and removable Micro SD cards. Users can easily manage their content by combining both stored XM and MP3s in personal playlists so they can enjoy all their music any time -- any way they prefer. "The four year partnership with Delphi has allowed XM to offer its subscribers some of the most innovative radio products ever developed for our leading service -- and the Delphi SKYFi3 is no exception," stated Rocco Tricarico, vice president of product marketing, XM Satellite Radio. "SKYFi3 offers the unique combination of stored XM, MP3 capability, micro SD card compatibility and Pause-Replay all in one elegant device." The Delphi SKYFi3 comes with everything to start enjoying XM in any vehicle equipped with an FM radio. First, a low-profile car dock with direct channel and preset-favorites access allows for both horizontal and vertical mounting options. The car dock also provides for a single auxiliary line input so users can listen to an external audio. SKYFi3's orientation flexibility, bright 2.8-inch display screen and ease-to-access car dock buttons offer improved readability and control for safer operation while driving. "Like all radio audiences, satellite subscribers listen most while driving on their daily commute to and from work," stated Massimo Baldini, satellite radio business manager, Delphi Product & Service Solutions. "Delphi has stayed true to its rich 100-year automotive heritage by optimizing the SKYFi3 for this purpose, but users will quickly come to appreciate the product's performance outside the vehicle." SKYFi3 can easily be removed from the car and used as a portable music player. With the included earphones and an internal 8 hour rechargeable battery, SKYFi3 can playback any previously stored XM or MP3s. In this way, users will never be far from the vast content XM has to offer even when they are not able to listen "live". Portability is enhanced through a quick connection capability to optional kits for use in the home, another car or even when users want to listen to "live XM" on-the-go. Optional Home (SA10227) and Car (SA10226) Kit accessories will easily connect SKYFi3 to any home stereo or promote sharing between with multiple vehicles. Two optional Live Wearable Kits will be available as well. Each uses comfortably-thin stereo audio headsets with a low-profile XM antenna built-in to the headband that connect to SKYFi3's universal multi-pin connector. A sleek form-fitting case offering additional protection and convenience is also included. The Standard Live Wearable Kit (SA10252) allows users to enjoy live XM for up to 90 minutes with power from SKYFi3's internal battery. The Premium Live Wearable Kit (SA10228) provides up to 7 hours in "live XM" mode and 40 hours in stored music mode with an external rechargeable battery. SKYFi3 also includes other features that have become important to XM subscribers. Artist and Tuneselect(TM) automatically find favorite artists and songs on any XM channel. Plus, a Stock Ticker offers a personalized way to track the latest stock quotes. SKYFi3 also includes an infrared remote that can control every radio function. The Delphi SKYFi3 will be available December 1st for this year's holiday shopping at select retailers with an expected retail price of $229. Additionally, some retailers will be offering SKYFi3 purchasers a free SKYFi3 Live Wearable Kit (SA10252), featuring integrated headphones with built-in Antenna (a $49 value), so they can listen to live XM on-the-go. For more information or to pre-order the Delphi SKYFi3, visit http://skyfi3.delphi.com. The SKYFi3 will be submitted to the Federal Communications Commission (FCC) for approval in the coming weeks. This device has yet to be authorized as required by the rules of the FCC. This device will not be offered for sale or lease until authorization is obtained. About Delphi Delphi was the first company to integrate a radio into the dashboard in 1936, the first to bring satellite radio to the vehicle in 2001 and the first to bring a portable satellite radio to the market in 2002. To date, Delphi has sold more than 14 million satellite radio receivers and accessories. In fact, three out of four satellite radio subscribers listen on Delphi hardware. Delphi continues to expand its in-vehicle and consumer electronics technologies and offers a broad portfolio of products to answer a wide variety of information and entertainment needs. For more information, visit http://www.delphi.com/media. About XM XM 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, 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. FORWARD-LOOKING STATEMENT This press release, as well as other statements made by Delphi may contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that reflect, when made, the Company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession ("DIP") facility; the Company's ability to obtain court approval with respect to motions in the chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company's liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; and the ability of the Company to attract and retain customers. Other risk factors are listed from time to time in the Company's United States Securities and Exchange Commission reports, including, but not limited to the Annual Report on Form 10-K for the year ended December 31, 2004 and its most recent quarterly report on Form 10-Q for the quarter ended September 30, 2005 and current reports on Form 8-K. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company's various pre-petition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of Delphi's common stock receiving no distribution on account of their interest and cancellation of their interests. As described in the Company's public statements in response to the request submitted to the United States Trustee for the appointment of a statutory equity committee, holders of Delphi's common stock and other equity interests (such as options) should assume that they will not receive value as part of a plan of reorganization. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing and as stated in its October 8, 2005 press release announcing the filing of its chapter 11 reorganization cases, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Delphi's common stock or other equity interests or any claims relating to pre-petition liabilities.