UPC Holding B.V. Provides Selected Financial Information for the Three Months and Year Ended December 31, 2005

UPC Holding B.V. Provides Selected Financial Information for the Three Months and Year Ended December 31, 2005

AMSTERDAM, The Netherlands, March 15 /PRNewswire-FirstCall/ -- UPC Holding B.V. ("UPC Holding") is providing today selected, preliminary financial information for the three months and year ended December 31, 2005. UPC Holding is a subsidiary of Liberty Global, Inc. ("Liberty Global") (NASDAQ:LBTYA)(NASDAQ:LBTYB)(NASDAQ:LBTYK). A copy of this press release will be posted to the investor relations section of the Liberty Global website (www.lgi.com). In addition, the full financials statements with the accompanying notes will be posted in the coming weeks. Highlights for the year compared to UPC Holding's results for the same period last year include(1):

* Revenue growth of 30% to 2,086 million Euro

* Operating cash flow growth of 24% to 769 million Euro(2)

* Earnings (loss) before tax(3) improved by 30% to (638) million Euro

* An organic(4) increase of 664,000 RGUs(5), a 105% improvement in net
additions

Financial and Operating Results

Total consolidated revenue for the year ended December 31, 2005 increased 30% to 2,086 million Euro as compared to the same period last year. The increase was principally due to acquisitions and continued growth in our central and eastern European businesses. Eliminating the effects of exchange rate movements and acquisitions, revenue increased over 9% year over year.

Operating cash flow for the year ended December 31, 2005 increased 24% to 769 million Euro as compared to the prior year period. The increase was principally driven by the impact of acquisitions and the continued growth in our central and eastern European businesses; while partially offset by the Netherlands, where we are implementing our "digital-for-all" (D4A) project(6), and increased marketing costs from subscriber additions. Eliminating the effects of exchange rate movements and acquisitions, operating cash flow increased 9% year over year. Excluding the Netherlands as well as the effects of exchange rate movements and acquisitions, operating cash flow improved 22% year over year.

At December 31, 2005, UPC Holding had 11.6 million RGUs, which represented an organic increase of 664,000 RGUs and an increase of 1.5 million RGUs as a result of acquisitions during the year. The organic RGU net additions in 2005 represent a 105% increase in net additions over the prior year. The 664,000 organic net additions for the year ended December 31, 2005 include 388,000 broadband Internet subscribers, 229,000 telephony subscribers and 46,000 video subscribers. Our broadband Internet subscriber additions were strong in 2005, particularly due to the continued success of our high-speed internet access services in the Netherlands, Poland and Hungary. Our telephony additions were driven primarily by the continued success of our digital phone offerings in the Netherlands, France and Hungary. The digital video RGU increase was driven primarily by upgrades from our analog video subscriber base and increased subscribers to our DTH service offering. The "digital-for-all" project in the Netherlands is on track and by early March, our digital video subscribers in the market were over 170,000, double the total base at the end of December 2005.

2006 Guidance

With respect to the full year 2006 targets for UPC Holding B.V., we expect that revenue growth and capital expenditures (including capital lease additions) as a percentage of revenue will largely be in line with the consolidated targets for Liberty Global as set out in the press release dated March 14, 2006; while we expect OCF growth will be somewhat below Liberty Global's consolidated target. The UPC Holding 2006 targets may be impacted by the Netherlands where we expect flat OCF, due primarily to the continuing roll-out of the D4A project.

About UPC Holding B.V.

UPC Holding owns businesses that provide video, high-speed Internet access and telephone services through broadband networks in 12 European countries. At December 31, 2005, UPC Holding's networks passed approximately 16 million homes and served approximately 11.6 million revenue generating units (as customarily defined by Liberty Global), including approximately 9.3 million video subscribers, 1.6 million broadband Internet subscribers and 0.7 million telephone subscribers.

On July 29, 2005, UPC Holding issued 500 million Euro of 7 3/4% Senior Notes due 2014 and on October 10, 2005, UPC Holding issued a further 300 million Euro of 8 5/8% Senior Notes due 2014. UPC Holding is required under the terms of the indentures for the foregoing Senior Notes to provide certain financial information regarding UPC Holding B.V. to bondholders on a quarterly basis. UPC Broadband Holding B.V., a wholly owned subsidiary of UPC Holding, is the borrower and UPC Holding is the guarantor of outstanding indebtedness under a senior secured credit facility (the "UPC Broadband Holding credit facility") which also requires the provision of certain financial and related information to the lenders. This press release is being issued at this time, in connection with those obligations, due to the contemporaneous release by Liberty Global of its year end results. The financial information contained herein is preliminary and subject to possible change. UPC Holding presently expects to issue its financial statements prior to the end of March, at which time they will be posted in the investor relations section of the Liberty Global website (www.lgi.com). Copies will also be available from the Trustee for the Senior Notes.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including guidance given for 2006 and the continued strength of our service offerings. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include the continued use by subscribers and potential subscribers of the Company's services, the long-term success of our D4A program in the Netherlands, changes in technology, regulation and competition, our ability to achieve expected operational efficiencies and economies of scale, our ability to generate expected revenue and operating cash flow and achieve assumed margins including, to the extent annualized figures imply forward-looking projections, continued performance comparable with the period annualized, as well as other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any guidance and other forward-looking statement contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

(1) Results from UPC Norway are treated as a discontinued operation in the
historical financial figures, thus UPC Norway's revenue and operating
cash flow for all historical periods are retroactively removed from
such figures. We have separately identified Norway as a discontinued
operation in our historical subscriber tables and are reporting
subscriber metrics excluding the impact of Norway.
(2) Please see pages 4 and 5 for an explanation of operating cash flow and
its reconciliation.
(3) Earnings (loss) before tax is before income taxes, minority interest,
and discontinued operations.
(4) Organic figures exclude RGUs at the date of acquisition but include
the impact of changes in RGUs from the date of acquisition.
(5) Please see footnote 4 on page 8 for details to the definition of
Revenue Generating Units.
(6) In our D4A project, we provide a digital interactive television box
and digital service at the analog rate for six months to analog
subscribers who accept the box and agree to accept the service. Upon
acceptance of the box, the subscriber is counted as a digital cable
subscriber rather than an analog cable subscriber. After the six
month promotional period, the subscriber will have the option to
discontinue the digital service or pay an additional amount, on top of
the analog rate, to receive the digital service.

For more information, please contact:

Ivan Nash Vila Bert Holtkamp
Investor Relations - Europe Corporate Communications - Europe
+41 44 277 9738 +31 20 778 9447

Selected Financial Data

The following table provides selected, preliminary Revenue and Operating Cash Flow data for the year and three months ended December 31, 2005 and 2004 for each reportable segment of UPC Holding B.V. The selected financial data contained herein is preliminary and unaudited and subject to possible adjustments in connection with the publication of UPC Holding's year-end audited financial statements. In each case, the tables present (i) the amounts reported by each of our reportable segments for the comparative periods, (ii) the Euro change and percentage change from period to period, (iii) the percentage change from period to period, after removing foreign currency effects (FX), and (iv) the percentage change from period to period, after removing FX and the effects of acquisitions. The comparisons that exclude FX assume that exchange rates remained constant during the periods that are included in each table. The acquisition impact is calculated as the difference between current and prior year amounts that are attributable to the timing of an acquisition. The FX adjustment and acquisition impact, when taken together, yield an organic growth calculation that incorporates the impact of acquisitions only when they are included in both comparable periods. Other Western Europe includes our operating segments in Ireland, Sweden and Belgium. Other Central and Eastern Europe includes our operating segments in Poland, Czech Republic, Slovak Republic, Romania and Slovenia.

Revenue

Full Year Year ended Increase Increase (decrease)
December 31, (decrease) excluding FX
FX and
Acquisi-
2005 2004 Euro % FX % tions %
amounts in thousand Euros, except % amounts
The
Netherlands 627,400 587,173 40,227 6.9 6.9 6.9
France 412,970 251,552 161,418 64.2 64.2 6.5
Austria 258,766 246,353 12,413 5.0 5.0 5.0
Other
Western
Europe 260,070 140,176 119,894 85.5 85.1 7.0
Total
Western
Europe 1,559,206 1,225,254 333,952 27.3 27.4 6.4

Hungary 226,401 174,772 51,629 29.5 27.7 27.7
Other
Central
and
Eastern
Europe 299,292 202,613 96,679 47.7 35.6 13.9
Total
Central
and
Eastern
Europe 525,693 377,385 148,308 39.3 31.9 20.3
Corporate
and other 755 4,169 (3,414) (81.9) (81.9) (81.9)
Total UPC
Holding 2,085,654 1,606,808 478,846 29.8 28.2 9.4

Fourth Three months ended Increase Increase (decrease)
Quarter December 31, (decrease) excluding FX
FX and
Acquisi-
2005 2004 Euro % FX % tions %
amounts in thousand Euros, except % amounts
The
Netherlands 158,171 154,909 3,262 2.1 2.1 2.1
France 106,180 101,994 4,168 4.1 4.1 4.1
Austria 64,665 61,881 2,784 4.5 4.5 4.5
Other
Western
Europe 77,840 43,694 34,146 78.1 74.7 6.4
Total
Western
Europe 406,856 362,478 44,378 12.2 12.5 3.6

Hungary 57,238 47,920 9,318 19.4 22.2 22.2
Other
Central and
Eastern
Europe 99,271 55,221 44,050 79.8 66.4 13.8
Total
Central
and
Eastern
Europe 156,509 103,141 53,368 51.7 45.9 17.7
Corporate
and other 209 1,535 (1,326) (86.4) (86.4) (86.4)
Total UPC
Holding 563,574 467,154 96,420 20.6 19.6 6.4

Operating Cash Flow

Full Year Year ended Increase Increase (decrease)
December 31, (decrease) excluding FX
FX and
Acquisi-
2005 2004 Euro % FX % tions %
amounts in thousand Euros, except % amounts
The
Netherlands 289,582 302,293 (12,711) (4.2) (4.2) (4.2)
France 78,200 36,990 41,210 111.4 111.4 28.8
Austria 110,175 98,445 11,730 11.9 11.9 11.9
Other
Western
Europe 89,676 51,276 38,400 74.9 74.9 10.5
Total
Western
Europe 567,633 489,004 78,629 16.1 16.2 3.1

Hungary 87,042 66,369 20,673 31.1 29.1 29.1
Other
Central and
Eastern
Europe 118,745 76,053 42,692 56.1 43.5 20.1
Total
Central
and
Eastern
Europe 205,787 142,422 63,365 44.5 36.8 24.3
Corporate
and other (4,693) (12,248) 7,555 61.7 61.7 61.7
Total UPC
Holding 768,727 619,178 149,549 24.2 22.4 9.2

Fourth Three months ended Increase Increase (decrease)
Quarter December 31, (decrease) excluding FX
FX and
Acquisi-
2005 2004 Euro % FX % tions %
amounts in thousand Euros, except % amounts
The
Netherlands 68,928 76,051 (7,123) (9.4) (9.4) (9.4)
France(7) 16,233 17,703 (1,470) (8.3) (8.3) (8.3)
Austria 26,048 22,351 3,697 16.5 16.5 16.5
Other
Western
Europe 24,891 13,177 11,714 88.9 81.6 13.4
Total
Western
Europe 136,100 129,282 6,818 5.3 5.3 (2.4)

Hungary 21,569 17,351 4,218 24.3 27.2 27.2
Other
Central and
Eastern
Europe 38,237 17,288 20,949 121.2 104.7 39.6
Total
Central
and
Eastern
Europe 59,806 34,639 25,167 72.7 66.0 33.4
Corporate
and other (667) (5,055) 4,388 86.8 86.8 86.8
Total UPC
Holding 195,239 158,866 36,373 22.9 21.5 8.1

(7) In July 2004, we acquired an 80% interest in Noos. In April 2005, we
increased our interest in Noos to 100%. As we did not own 100% of
Noos during 2004, the amount of overhead allocated by Europe
Broadband to Noos during the fourth quarter of 2004 is significantly
less than the amount allocated to Noos during the fourth quarter of
2005. Excluding the impact of all overhead allocations and FX, the
operating cash flow of France increased 13.6% during the fourth
quarter of 2005, as compared to the fourth quarter of 2004.

Operating Cash Flow Definition and Reconciliation

Operating cash flow is not a U.S. GAAP measure. Operating cash flow is the primary measure used by UPC Holding's chief operating decision maker to evaluate segment operating performance and to decide how to allocate resources to segments. As UPC Holding uses the term, operating cash flow is defined as revenue less operating and SG&A expenses (excluding depreciation and amortization, stock-based compensation, related party management fees, and impairment, restructuring and other operating charges or credits). UPC Holding believes operating cash flow is meaningful because it provides investors a means to evaluate the operating performance of our segments and our company on an ongoing basis using criteria that is used by our internal decision makers. Our internal decision makers believe operating cash flow is a meaningful measure and is superior to other available U.S. GAAP measures because it represents a transparent view of our recurring operating performance and allows management to readily view operating trends, perform analytical comparisons and benchmarking between segments in the different countries in which we operate and identify strategies to improve operating performance. For example, our internal decision makers believe that the inclusion of impairment and restructuring charges within operating cash flow would distort the ability to efficiently assess and view the core operating trends in our segments. In addition, our internal decision makers believe our measure of operating cash flow is important because investors use it to compare our performance to other companies in our industry. A reconciliation of UPC Holding's total segment operating cash flow to UPC Holding's earnings (loss) before income taxes, minority interest and discontinued operations is presented below for the year and three months ended December 31, 2005 and 2004. You should view operating cash flow as a measure of operating performance that is a supplement to, and not a substitute for, operating income, net earnings, cash flow from operating activities and other U.S. GAAP measures of income.

Year ended Three months ended
December 31, December 31,
2005 2004 2005 2004
amounts in thousand Euros
Total segment operating
cash flow 768,727 619,178 195,239 158,866
Stock-based compensation
expense (14,547) (27,727) 9,464 (11,260)
Depreciation and
amortization (648,857) (593,648) (194,241) (163,987)
Related party management
(fees) credits (3,046) (39,206) 1,379 (39,048)
Impairment, restructuring
and other operating
(charges) credits 3,397 (31,020) (969) (16,354)
Operating income (loss) 105,674 (72,423) 10,872 (71,783)
Interest expense, net (206,112) (195,579) (64,825) (47,715)
Interest expense - related
party (549,853) (682,335) (136,577) (177,364)
Interest income 6,822 3,376 1,561 1,013
Realized and unrealized gains
(losses) on derivative
instruments, net 177,047 (46,889) 78,287 (35,287)
Foreign currency transaction
gains (losses), net (171,495) 55,455 (28,733) 41,351
Gain(loss) on
extinguishment
of debt (9,127) 28,441 -- --
Other income (expense), net 8,950 78 6,556 (3,579)
Loss before income taxes,
minority interest and
discontinued operations (638,094) (909,876) (132,859) (293,364)

Summary of Third Party Debt and Cash and Cash Equivalents

The following table details UPC Holding's consolidated third party debt and cash and cash equivalents as of December 31, 2005, and December 31, 2004:

Year ended
December 31,
2005 2004
amounts in thousand Euros
UPC Broadband Holding Bank Facility 3,425,053 2,880,275
UPC Holding 7 3/4% Senior Notes due 2014 500,000 --
UPC Holding 8 5/8% Senior Notes due 2014 300,000 --
Other debt, including capital lease
obligations 49,151 40,090

Total third party debt 4,274,204 2,920,365

Cash and cash equivalents 57,588 134,586

Note: The summary of debt and cash and cash equivalents above does not
include the pro forma effects of any acquisitions or disposals or
additional debt incurred, if any, subsequent to December 31, 2005.
The disposal of UPC Norway for approximately 448 million Euro in proceeds,
of which 175 million Euro was used to repay debt, was completed on
January 19, 2006.

Covenant Calculations

Based on the results for December 31, 2005, the ratio of Senior Debt to Annualized EBITDA (last two quarters annualized) for UPC Holding, as defined and calculated in accordance with the UPC Broadband Holding credit facility and upon reporting, was 3.83x. The ratio of Total Debt to Annualized EBITDA (last two quarters annualized), as defined and calculated in accordance with the UPC Broadband Holding credit facility was 4.77x.

Capital Expenditure Summary

UPC Holding's capital expenditures were approximately 532 million Euro and 314 million Euro for the year ended December 31, 2005 and 2004. The following table provides UPC Holding's capital expenditure breakdown by segment for the year ended December 31, 2005 and 2004.

Year ended
December 31,
2005 2004
amounts in thousand Euros
The Netherlands 122,923 68,260
France 103,652 55,644
Austria 38,933 43,246
Other Western Europe 59,252 37,620
Total Western Europe 324,760 204,770
Hungary 57,154 32,102
Other Central and Eastern Europe 67,981 32,056
Total Central and Eastern Europe 125,135 64,158
Corporate and other 82,169 45,253
Total UPC Holding 532,064 314,171

Operating Data Table
December 31, 2005
---------------------------------------------
Two-way Customer
Homes Homes Relation- Total
Passed(1) Passed(2) ships(3) RGUs(4)
--------- --------- --------- ---------
UPC Holding
The Netherlands 2,645,800 2,521,600 2,239,500 3,009,700
France 4,611,700 3,361,600 1,618,800 1,921,800
Austria 957,500 954,200 584,100 926,100
Ireland 887,200 225,800 576,900 601,800
Sweden 421,600 287,500 298,500 389,100
Belgium 156,600 156,600 146,500 167,800
Total Western Europe 9,680,400 7,507,300 5,464,300 7,016,300
Poland 1,914,800 932,200 1,023,300 1,124,600
Hungary 1,035,700 885,700 996,300 1,145,900
Czech Republic 743,000 402,100 431,400 486,400
Romania 1,913,800 944,100 1,338,100 1,411,600
Slovak Republic 429,200 238,000 305,000 323,300
Slovenia 125,300 79,300 108,300 126,400
Total Central and
Eastern Europe 6,161,800 3,481,400 4,202,400 4,618,200

Total UPC Holding 15,842,200 10,988,700 9,666,700 11,634,500

Disc Operations - Norway 523,000 270,800 375,700 464,300

Grand Total 16,365,200 11,259,500 10,042,400 12,098,800

December 31, 2005
---------------------------------------------
Video
---------------------------------------------
Analog Digital
Cable Cable DTH MMDS
Subscri- Subscri- Subscri- Subscri-
bers(5) bers(6) bers(7) bers(8)

UPC Holding
The Netherlands 2,150,300 85,300 -- --
France 928,600 563,800 -- --
Austria 455,900 44,000 -- --
Ireland 321,500 141,000 -- 113,900
Sweden 240,000 58,600 -- --
Belgium 127,000 5,500 -- --
Total Western Europe 4,223,300 898,200 -- 113,900
Poland 1,000,900 -- -- --
Hungary 731,400 -- 171,100 --
Czech Republic 298,300 -- 112,500 --
Romania 1,333,900 4,000 -- --
Slovak Republic 256,900 -- 17,300 28,300
Slovenia 108,300 -- -- --
Total Central and
Eastern Europe 3,729,700 4,000 300,900 28,300

Total UPC Holding 7,953,000 902,200 300,900 142,200

Disc Operations - Norway 334,300 31,000 -- --

Grand Total 8,287,300 933,200 300,900 142,200

December 31, 2005
---------------------------------------------
Internet Telephone
--------------------- ---------------------
Homes Homes
Service- Subscri- Service- Subscri-
able(9) bers(10) able(11) bers(12)

UPC Holding
The Netherlands 2,521,600 478,100 2,396,300 296,000
France 3,361,600 295,000 2,370,500 134,400
Austria 954,200 275,900 920,500 150,300
Ireland 225,800 25,000 24,200 400
Sweden 287,500 90,500 -- --
Belgium 156,600 35,300 -- --
Total Western Europe 7,507,300 1,199,800 5,711,500 581,100
Poland 932,200 122,500 825,200 1,200
Hungary 885,700 135,200 888,200 108,200
Czech Republic 402,100 75,600 -- --
Romania 818,800 55,200 661,100 18,500
Slovak Republic 223,200 20,800 -- --
Slovenia 79,300 18,100 -- --
Total Central and
Eastern Europe 3,341,300 427,400 2,374,500 127,900

Total UPC Holding 10,848,600 1,627,200 8,086,000 709,000

Disc Operations - Norway 270,800 69,500 178,200 29,500

Grand Total 11,119,400 1,696,700 8,264,200 738,500

Footnotes to Operating Data Table:
(1) Homes Passed are homes that can be connected to our networks without
further extending the distribution plant, except for DTH and MMDS
homes. Our Homes Passed counts are based on census data that can
change based on either revisions to the data or from new census
results. We do not count homes passed for DTH. With respect to
MMDS, one home passed is equal to one MMDS subscriber.
(2) Two-way Homes Passed are homes passed by our networks where customers
can request and receive the installation of a two-way addressable
set-top converter, cable modem, transceiver and/or voice port which,
in most cases, allows for the provision of video and Internet
services and, in some cases, telephone services.
(3) Customer Relationships are the number of customers who receive at
least one level of service without regard to which service(s) they
subscribe. We exclude mobile customers from customer relationships.
(4) Revenue Generating Unit (RGU) is separately an Analog Cable
Subscriber, Digital Cable Subscriber, DTH Subscriber, MMDS
Subscriber, Internet Subscriber or Telephone Subscriber. A home may
contain one or more RGUs. For example, if a residential customer in
our Austrian system subscribed to our digital cable service,
telephone service and high-speed broadband Internet access service,
the customer would constitute three RGUs. Total RGUs is the sum of
Analog, Digital Cable, DTH, MMDS, Internet and Telephone Subscribers.
In some cases, non-paying subscribers are counted as subscribers
during their free promotional service period. Some of these
subscribers choose to disconnect after their free service period.
(5) Analog Cable Subscriber is comprised of video cable customers that
are counted on a per connection basis. We have 1.37 million
"lifeline" customers that are counted on a per connection basis,
representing the least expensive regulated tier of basic cable
service with only a few channels. An analog cable subscriber is not
counted as a digital cable subscriber.
(6) Digital Cable Subscriber is a customer with one or more digital
converter boxes that receives our digital video service. We count a
subscriber with one or more digital converter boxes that receives our
digital video service as just one subscriber. A digital subscriber is
not counted as an analog subscriber. In the Netherlands where our
mass digital migration project is underway, a subscriber is moved
from the analog subscriber count to the digital subscriber count when
such subscriber accepts delivery of our digital converter box and
agrees to accept digital video service regardless of when the
subscriber begins to receive our digital video service. The digital
video service and the digital converter box are provided at the
analog rate for six months after which the subscriber has the option
to discontinue the digital service or pay an additional amount to
continue to receive the digital service.
(7) DTH Subscriber is a home or commercial unit that receives our video
programming broadcast directly to the home via a geosynchronous
satellite.
(8) MMDS Subscriber is a home or commercial unit that receives our video
programming via a multipoint microwave (wireless) distribution
system.
(9) Internet Homes Serviceable are homes that can be connected to our
broadband networks, where customers can request and receive Internet
access services.
(10) Internet Subscriber is a home or commercial unit or EBU with one or
more cable modems connected to our broadband networks, where a
customer has requested and is receiving high-speed Internet access
services. Such numbers do not include customers that receive
services via resale arrangements.
(11) Telephone Homes Serviceable are homes that can be connected to our
networks, where customers can request and receive voice services.
(12) Telephone Subscriber is a home or commercial unit or EBU connected to
our networks, where a customer has requested and is receiving voice
services. Telephone subscribers as of December 31, 2005, exclude an
aggregate of 61,300 mobile telephone subscribers in the Netherlands.
Mobile telephone services generate a significantly lower ARPU than
broadband or Voice-over-Internet Protocol or "VoIP" telephone
services. Also, such numbers do not include customers that receive
services via resale arrangements.

Additional General Notes to the Table:

Table excludes systems owned by affiliates that were not consolidated for financial reporting purposes as of December 31, 2005, or that were acquired after December 31, 2005.

Subscriber information for recently acquired entities is preliminary and subject to adjustment until we have completed our review of such information and determined that it is presented in accordance with our policies.

Commercial contracts such as hotels and hospitals are counted by all our subsidiaries on an EBU basis. EBU is calculated by dividing the bulk priced charged to accounts in an area by the most prevalent price charged to non-bulk residential customers in that market for the comparable tier of service.

Source: UPC Holding B.V.

CONTACT: Ivan Nash Vila, Investor Relations - Europe, +41 44 277 9738,
or Bert Holtkamp, Corporate Communications - Europe, +31 20 778 9447, both of
UPC Holding B.V.

Web site: http://www.lgi.com/

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