WORLDSPACE Appoints Stephen Shenefield Senior Vice President, Receiver Development
Industry Veteran to Spearhead Company's Product Development Efforts
SILVER
SPRING, Md., Feb. 27, 2006-- WorldSpace
Satellite Radio, (Nasdaq: WRSP), one of the world leaders in satellite-based digital radio services, today announced that it has appointed Stephen Shenefield, a leading consumer electronics industry veteran, as senior vice president, receiver development, WORLDSPACE.
With more than 15 years of consumer product development experience, Shenefield will be responsible for the overall development, strategy, and production of the WORLDSPACE next generation satellite radio receivers. Next generation receivers are a critical component of the company's mission to increase satellite radio capabilities in its key coverage areas of India, China and Western Europe.
An industry veteran, Shenefield most recently served as vice president, engineering at Boston Acoustics. While at Boston Acoustics, he led MP3 and DVD product development initiatives and helped to create the first tabletop receiver capable of receiving HD Radio broadcasts. In addition, he has extensive experience internationally, having created vendor relationships in both China and Europe. Prior to joining Boston Acoustics, Shenefield served as director at Lucasfilm Ltd.'s THX Division, working with leading electronics companies such as Panasonic, Altec-Lansing, Harman International, Pioneer, and Kenwood to develop home entertainment products.
"Stephen Shenefield possesses a tremendous wealth of audio electronic development expertise and he is a strong addition to our product development team," said Noah Samara, CEO, WORLDSPACE. "We expect his talent, creativity and expertise to lend pivotal support to our efforts to provide WORLDSPACE subscribers with a high-quality satellite radio experience."
Shenefield holds a bachelor of arts from Harvard University where he specialized in economics. He currently serves on the board of trustees for the Harvard Radio Broadcasting Corporation and is also a member of the Audio Engineering Society (AES).
About WorldSpace, Inc.
WorldSpace (Nasdaq: WRSP)
is the world's only global media and entertainment
company positioned to offer a satellite radio
experience to consumers in more than 130 countries
with five billion people, driving 300 million
cars. WorldSpace delivers the latest tunes,
trends and information from around the world
and around the corner. WorldSpace subscribers
benefit from a unique combination of local
programming, original WorldSpace content and
content from leading brands around the globe
including the BBC, CNN, Virgin Radio, NDTV
and RFI. WorldSpace's satellites cover two-thirds
of the globe with six beams. Each beam is capable
of delivering up to 80 channels of high quality
digital audio and multimedia programming directly
to WorldSpace Satellite Radios anytime and
virtually anywhere in its coverage area. WorldSpace
is a pioneer of satellite-based digital radio
services (DARS) and was instrumental in the
development of the technology infrastructure
used today by XM Satellite Radio.
Forward-looking Statements
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs about future events and financial, political and social trends and assumptions it has made based on information currently available to it. The Company cannot assure that any expectations, forecasts or assumptions made by management in preparing these forward-looking statements will prove accurate, or that any projections will be realized. Such forward-looking statements may be affected by inaccurate assumptions or by known or unknown risks or uncertainties. Actual results may vary materially from those expressed or implied by the statements herein. Forward-looking statements contained herein speak only as of the date of this release. The Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether to reflect new information, future events or otherwise.
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