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XM RADIO CLOSES $250 MILLION INVESTMENT DEAL

Washington D.C., July 08, 1999 -- Washington DC, July 8, 1999, XM Satellite Radio Inc., a subsidiary of American Mobile Satellite Corporation NASDAQ: SKYC), today closed its previously announced investment deal with Clear Channel Communications Inc. (NYSE: CCU); DIRECTV, Inc., a unit of Hughes Electronics Corporation (NYSE: GMH); The General Motors Corporation (NYSE: GM); and a private investment group comprised of Columbia Capital, Telcom Ventures L.L.C. and Madison Dearborn Partners. The combined $250 million is comprised of $75 million each from Clear Channel and the private investment group and $50 million each from General Motors and DIRECTV. American Mobile also completed its acquisition of WorldSpace Inc.'s interest in XM.

XM Satellite Radio ( www.xmradio.com ) is developing a new band of radio by delivering up to 100 channels of digital-quality audio service with crystal-clear sound from coast to coast directly from its satellites. XM plans to offer subscribers an innovative mix of music, talk, news, sports and entertainment formats for less than $10 a month.