UCOMA Unitedglobalcom (MM)

UGC Responds to California State Treasurer's Comments on Executive Compensation DENVER, Nov. 16 /PRNewswire-FirstCall/ -- UnitedGlobalCom, Inc. (UGC) (NASDAQ:UCOMA) issued the following statement today in response to a press release on executive compensation from California State Treasurer Phil Angelides issued November 9, 2004. Equity compensation in 2003 for UGC's five named executive officers represented 28% of the total equity compensation granted to all UGC employees, not 89% as cited in the press release by the California State Treasurer. UGC's long-term incentive compensation is tied directly to the performance of the Company's stock, which has increased approximately 250% since December 31, 2002. In addition, approximately two-thirds of the total 2003 compensation figure cited by the California State Treasurer consisted of the market value (at year end 2003) of unexercised stock options that were all granted in or prior to 2001. About UnitedGlobalCom UGC is a leading international provider of video, voice, and broadband Internet services with operations in 14 countries, including 11 countries in Europe. Based on the Company's operating statistics at September 30, 2004, UGC's networks reached approximately 15.5 million homes passed and served over 11.1 million RGUs, including approximately 9.1 million video subscribers, 761,000 telephone subscribers and 1.3 million broadband Internet subscribers. Please visit http://www.unitedglobal.com/ for further information or contact: Richard Abbott Bert Holtkamp Investor Relations - Denver Corporate Communications - Europe (303) 220-6682 + 31 (0) 20 778 9447 DATASOURCE: UnitedGlobalCom, Inc. CONTACT: Investor Relations - Denver, Richard Abbott, +1-303-220-6682, , or Corporate Communications - Europe, Bert Holtkamp, + 31 (0) 20 778 9447, , both of UnitedGlobalCom, Inc. Web site: http://www.unitedglobal.com/

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