Subs Up As XM Canada Reports Revs Rose

Altman Replaces Parsons

Subscriber growth helped XM CANADA trim its losses in Q4, as revenues rose. The company said revenue rose 17% to $13.7 million for the period ended AUGUST 31st. That compared to revenue of $11.8 million for the same quarter last year.

The company also trimmed its loss in the period to $13.6 million or 27 cents per share. That compared to a loss of $21.6 million or 45 cents per share for the same quarter a year earlier.

XM said its number of self-paying subscribers rose 23% year-over-year to 380,900.

Dara Altman Joins XM Canada's Board

CANADIAN SATELLITE RADIO HOLDINGS INC., parent company of XM CANADA has appointed DARA ALTMAN to the Company's Board of Directors. ALTMAN is an executive with SIRIUS XM and she replaces GARY M. PARSONS.

"GARY was a founder of XM CANADA and a true pioneer in the satellite radio industry. His vision, expertise and insights were instrumental in establishing satellite radio and XM in CANADA. His commitment to work with us helped guide the formation of the Canadian operations and insured our success in obtaining our broadcast licence. We thank him for his extensive contributions and wish him all the best in his future endeavors," said Exec. Chairman JOHN BITOVE.

"We have worked with DARA over the past few years and welcome her to the Board where her insights into the industry will prove to be of great value to our company and all shareholders as we move toward profitability," BITOVE stated.

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