SSL Selected to Provide Two Powerful Satellites to SiriusXM

PALO ALTO, CA, July 28, 2016 /PRNewswire/ - Space Systems Loral (SSL), a leading provider of innovative satellites and spacecraft systems, today announced that it was selected to provide two high power satellites to SiriusXM, the world's largest radio company measured by revenue. The next generation satellites, SXM-7 and SXM-8, will replace the XM-3 and XM-4 satellites in 2019 and 2020, respectively, and will help ensure continuous and reliable delivery of SiriusXM's audio entertainment and data services to more than 30.6 million subscribers across North America.

"SiriusXM provides an unparalleled variety of audio entertainment for radio listeners in North America," said John Celli, president of SSL. "We have a long history of working with SiriusXM to develop some of the world's most advanced satellites which broadcast to cars and radios for the home, office, and mobile devices. We are honored to be selected to build two additional satellites that will reinforce and augment the fleet's capability."

Both SXM-7 and SXM-8 will operate in the S-band spectrum. Each satellite will generate more than 20-kW of power and will have a large unfurlable antenna reflector, which enables broadcast to radios without the need for large dish-type antennas on the ground.

SSL has previously built a total of seven satellites for SiriusXM, including its first generation Sirius satellites, which were launched in 2000. Of the seven satellites built, one was a ground spare that was never needed due to the reliability of the original constellation. It was donated to the Smithsonian Air and Space Museum in 2012.

"We are pleased to once again collaborate with SSL on two advanced satellites that will bolster service to our subscribers for years to come," said Bridget Neville, vice president of satellite and terrestrial engineering and operations at SiriusXM. "SSL is a premier designer and manufacturer of reliable communications satellites, with the technological capability to meet our demanding requirements. We look forward to working together on the new satellites."

SXM-7 and SXM-8 are based on the powerful SSL 1300 platform, which has the flexibility to support a broad range of applications and technology advances. The satellites are designed to provide service for 15 years or longer.

About SiriusXM

Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world's largest radio company measured by revenue and has more than 30.6 million subscribers.  SiriusXM creates and offers commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment, and a wide-range of Latin music, sports and talk programming.  SiriusXM is available in vehicles from every major car company in the U.S. and on smartphones and other connected devices as well as online at siriusxm.com. SiriusXM radios and accessories are available from retailers nationwide and online at SiriusXM.  SiriusXM also provides premium traffic, weather, data and information services for subscribers through SiriusXM Traffic™, SiriusXM Travel Link, NavTraffic®, NavWeather™.  SiriusXM delivers weather, data and information services to aircraft and boats through SiriusXM Aviation, SiriusXM Marine™, Sirius Marine Weather, XMWX Aviation™, XMWX Weather, and XMWX Marine™.  In addition, SiriusXM Music for Business provides commercial-free music to a variety of businesses.  SiriusXM holds a minority interest in SiriusXM Canada which has approximately 2.7 million subscribers. SiriusXM is also a leading provider of connected vehicles services to major automakers, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.

To download SiriusXM logos and artwork, visit http://www.siriusxm.com/LogosAndPhotos.

About SSL

Space Systems Loral (SSL) is a leading provider of commercial satellites with broad expertise to support satellite operators and innovative space related missions. The company designs and manufactures spacecraft for services such as direct-to-home television, video content distribution, broadband internet, mobile communications, and Earth observation.  As a Silicon Valley innovator for more than 50 years, SSL's advanced product line also includes state-of-the-art small satellites, and sophisticated robotics and automation solutions for remote operations.  For more information, visit www.sslmda.com.

Forward-Looking Statements

This news release contains forward-looking statements and information, which reflect the current view of Space Systems Loral (SSL) with respect to future events and financial performance.  When used in this news release, the words "believes", "expects", "plans", "may", "will", "would", "could", "should", "anticipates", "estimates", "project", "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. Known risks and uncertainties include but are not limited to: risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; risks associated with satellite manufacturing, including competition, cyclicality of SSL's end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of SSL's factory and personnel; risk associated with financial factors such as volatility in exchange rates, increases in interest rates, restrictions on access to capital, and swings in global financial markets; risks associated with domestic and foreign government regulation, including export controls and economic sanctions; and other risks, including litigation. The foregoing list of important factors is not exhaustive. The information contained in this news release reflects SSL's beliefs, assumptions, intentions, plans and expectations as of the date of this news release. Except as required by law, SSL disclaims any obligation or undertaking to update or revise the information herein.

SOURCE SSL