iBiquity Digital Corporation, the sole developer of HD Radio technology, announced today that SANYO Electric Co., Ltd., a leading manufacturer of home and mobile entertainment products, has licensed iBiquity's HD Radio AM and FM digital broadcast technology. SANYO will integrate HD Radio technology into a new line of digital aftermarket mobile, OEM products and home receivers scheduled for launch from 2004. iBiquity Digital's HD Radio IBOC (In-Band On-Channel) based technology transforms today's radio experience by allowing AM/FM broadcasters to seamlessly transmit digital quality audio as well as integrated wireless data alongside today's analog-based broadcasts. HD Radio digital receivers, such as those being developed by SANYO, will enable consumers to receive these signals with improved audio fidelity that matches existing CD quality. HD Radio technology will also allow for the development of additional on-demand interactive audio and wireless data services, including traffic reports, weather alerts, breaking news, sports highlights, market updates, radio program information and much more.

SANYO is one of the largest developers and marketers of innovative and feature-rich mobile aftermarket and home audio/video receivers in the global marketplace. "SANYO's core philosophy of delivering the highest quality consumer products is essential to our ongoing success as the brand of choice for millions of consumers around the world," said Tateo Toyama, General Manager for Multimedia Development Center. "With its enhanced audio and data capabilities, iBiquity's HD Radio technology will revolutionize the driver's experience with AM and FM radio. We look forward to adding HD Radio technology to our list of successful product launches."

"iBiquity is proud to be partnered with this globally recognized developer of high quality consumer electronics products," said Robert Struble, president and CEO, iBiquity Digital Corporation. "The combination of our HD Radio technology with SANYO's award-winning products will provide consumers with an innovative platform for enjoying the next-generation of audio experience within their car and home that will redefine how they think of radio."