UCOMA Unitedglobalcom (MM)

Liberty Media Corporation Announces Plan to Separate International Businesses ENGLEWOOD, Colo., March 15 /PRNewswire-FirstCall/ -- Liberty Media Corporation today announced that it intends to spin-off to its shareholders a separate company comprised of its international businesses. The transaction, which is intended to be tax-free to shareholders, will create a new publicly-traded company called Liberty Media International, Inc. (LMI). LMI will be comprised of Liberty Media's interests in various broadband and content businesses operating principally in Europe, Japan and Latin America. These businesses include UnitedGlobalCom, Inc. (NASDAQ:UCOMA), Jupiter Telecommunications, Co., Ltd., and Jupiter Programming Co., Ltd., and Liberty Cablevision of Puerto Rico, Inc. among others. Within the coming weeks, Liberty Media will make the appropriate SEC filings with completion of the transaction expected to occur in the early- Summer. Liberty Media Corporation (NYSE:LNYSE:LMCB) is a holding company owning interests in a broad range of electronic retailing, media, communications and entertainment businesses operating in the United States, Europe, South America and Asia. Our businesses are classified in three groups; Interactive, Networks and International and include some of the world's most recognized and respected brands, including QVC, Encore, STARZ!, Discovery, UnitedGlobalCom, Inc., IAC/InterActiveCorp, and News Corporation. Important Notice: Liberty Media Corporation President and CEO,Robert Bennett, will discuss this press release as well as Liberty Media's supplemental financial information and guidance in a conference call which will begin today at 11:00 a.m. (ET). The call can be accessed by dialing (913) 981-4901 at least 10 minutes prior to the start time. The call will also be broadcast live across the internet. To access the web cast go to http://libertymedia.com/investor_relations/default.htm . Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Liberty Media Corporation and subsidiaries or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include, among others: the risks and factors described in the publicly filed documents of Liberty Media Corporation, including the most recently filed Form 10-K of Liberty Media Corporation; general economic and business conditions and industry trends including in the advertising and retail markets; the continued strength of the industries in which we operate; uncertainties inherent in proposed business strategies and development plans; rapid technological changes; future financial performance, includingavailability, terms and deployment of capital; availability of qualified personnel; changes in, or the failure or the inability to comply with, government regulation, including, without limitation, regulations of the Federal Communications Commission, and adverse outcomes from regulatory proceedings; changes in the nature of key strategic relationships with partners and joint venturers; competitor responses to Liberty Media Corporation's products and services, and the overall market acceptance of such products and services, including acceptance of the pricing of such products and services. These forward-looking statements speak only as of the date of this Release. Liberty Media Corporation expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Media Corporation's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. The transactions are subject to completion of definitive agreements and customary closing conditions, including regulatory and other third party consents and approvals. For further information, please contact Mike Erickson of Liberty Media Corporation, +1-877-772-1518. DATASOURCE: Liberty Media Corporation CONTACT: Mike Erickson of Liberty Media Corporation, +1-877-772-1518 Web site: http://libertymedia.com/investor_relations/default.htm

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