UCOMA Unitedglobalcom (MM)

Liberty Media Corporation Announces Record Date for International Spin Off ENGLEWOOD, Colo., May 24 /PRNewswire-FirstCall/ -- Liberty Media Corporation (NYSE: L; LMC.B) today announced that the record date for the previously announced spin off of Liberty Media International, Inc. (LMI) will be 5:00 p.m., New York City time, on June 1, 2004. In the spin off, record holders of Liberty Media Series A and Series B common stock will receive 0.05 of a share of the corresponding series of LMI common stock for each share of Liberty Media common stock held by them as of the record date, and cash will be delivered in lieu of fractional share interests. Shares of LMI common stock are expected to be distributed on or about June 7, 2004, subject to clearance by the Securities and Exchange Commission of LMI's Form 10 Registration Statement. Copies of the information statement included in LMI's effective Form 10 Registration Statement will be mailed at the same time as the shares of LMI common stock are distributed. Liberty Media common stock will not trade ex-dividend until after the distribution. As a result, any record holder of Liberty Media common stock that sells its shares after the record date and on or before the date of distribution will also be selling its right to receive shares of LMI common stock in the spin off. Following the spin off, Liberty Media will cease to have any ownership interest in LMI, and LMI will become an independent publicly traded company. LMI Series A and Series B common stock will begin trading on the Nasdaq National Market under the symbols "LBTYA" and "LBTYB," respectively, following the date of the distribution. LMI is a holding company owning interests in various broadband distribution and video programming 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. Liberty Media Corporation (NYSE: L; LMC.B) 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. Following the spin off, Liberty Media's businesses will be classified in four groups; Interactive, Networks, Tech/Ventures and Corporate. Liberty Media's businesses include some of the world's most recognized and respected brands, including QVC, Encore, STARZ!, Discovery, IAC/InterActiveCorp, and News Corporation. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of Liberty Media common stock or LMI common stock. DATASOURCE: Liberty Media Corporation CONTACT: Mike Erickson of Liberty Media Corporation, +1-877-772-1518

Copyright