UCOMA Unitedglobalcom (MM)

Chilean Regulators Approve Potential Combination of UGC's VTR Unit With Metropolis Intercom DENVER, Oct. 26 /PRNewswire-FirstCall/ -- UnitedGlobalCom, Inc. ("UGC" or "the Company") (NASDAQ:UCOMA), announced today that the Chilean anti-trust tribunal has, subject to certain conditions, approved the potential combination of UGC's wholly owned subsidiary, VTR GlobalCom S.A. ("VTR"), with Metropolis Intercom S.A. ("Metropolis"), in Chile. UGC will review and study in detail the conditions imposed by the Tribunal. Metropolis is 50% owned by Liberty Media International, Inc. ("LMI"), the controlling shareholder in UGC. UGC and LMI have engaged in discussions regarding terms for the potential combination of VTR and Metropolis. These terms are subject to review and approval by the Related Party Committee of the UGC Board. The Related Party Committee has engaged Morgan Stanley to provide independent advice on this transaction. VTR is the largest broadband communications provider in Chile with 944,000 RGUs as of June 2004, including 504,000 video subscribers, 289,000 telephony customers and 151,000 high-speed internet subscribers. Metropolis has approximately 270,000 RGUs, including 230,000 cable TV subscribers. About UnitedGlobalCom UGC is a leading international broadband communications provider of video, voice, and broadband Internet services with operations in 14 countries. Based on UGC's operating statistics at June 30, 2004, the Company's networks reached approximately 12.3 million homes passed and served over 9.3 million RGUs, including approximately 7.6 million video subscribers, 756,900 telephone subscribers and 1,032,000 broadband Internet subscribers. Please visit http://www.unitedglobal.com/ for further information or contact: Richard S.L. Abbott Bert Holtkamp Investor Relations - Denver Corporate Communications - Europe (303) 220-6682 + 31 (0) 20 778 9447 Email: DATASOURCE: UnitedGlobalCom, Inc. CONTACT: Richard S.L. Abbott, Investor Relations - Denver, +1-303-220-6682, , or Bert Holtkamp, Corporate Communications - Europe, + 31 (0) 20 778 9447, , both of UnitedGlobalCom, Inc. Web site: http://www.unitedglobal.com/

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