UPC Announces First Quarter 2000 Results

UPC, a subsidiary of UnitedGlobalCom owns and operates broadband communications networks in 16 countries in Europe and in Israel. Its services include cable television, telephone, Internet/data services, DTH and Programming. As of March 31, 2000 UPC reached 15.8 million franchise homes and 12.9 million homes passed. Revenues were Euro 200.3 million for the first quarter.

Mark Schneider, Chairman and CEO of UPC, commenting on the results: "We have had a great first quarter with subscriber growth continuing ahead of expectations and "triple play" EBITDA developing positively."

UPC's consolidated revenues increased by 196.5% from EURO 67.5 million for the quarter ended March 31, 1999 to EURO 200.3 million for the quarter ended March 31, 2000. Revenue growth was strong due to roll out of new services and the consolidation of new acquisitions.

During the quarter ended March 31, 2000 UPC's consolidated capital expenditures increased to EURO 253.2 million from EURO 56.4 million for the quarter ended March 31, 1999.

As of end of March UPC has 181,100 residential and business Internet subscribers.

chello grew its residential subscriber base by 40% adding 47,600 subscribers while its business base grew 12% adding 430 new subscribers. UPC's Dutch acquisitions in the quarter added 11,500 third party Internet subscribers to UPC's Internet subscriber base. Total Internet/data revenues for the first quarter 2000 increased 468.9% to EURO 18.8 million from EURO 3.3 million for the quarter ended March 31, 1999.

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