CEA Press Release

September 23, 2008. Communications Equity Associates ("CEA") announced today that it advised Old UGC, Inc. (the "Company"), in connection with the sale of Star Global Com S.A.C. ("SGC"), a leading Peruvian Pay-TV operator, to Telefónica del Peru S.A.A., a subsidiary of Spain's Telefónica S.A.

SGC is a leading provider of Pay-TV and broadband connectivity in Southern Peruvian Cities of Arequipa and Tacna. SGC has approximately 18,000 RGUs on its 700-kilometer hybrid cable-coaxial network, passing approximately 70,000 homes. Arequipa is Peru's second largest city, with a population of approximately 800,000.

Telefónica S.A. is a leading global telecommunications company with headquarters in Spain. With a presence in 24 countries of Europe, Latin America, and Africa, Telefónica S.A. is an integrated telecom operator, providing communication, information, and entertainment solutions to approximately 245 million customers.

Waldo Glasman, Managing Director, and Javier Ardila, Associate, of CEA's Latin America Corporate Finance Advisory Group, advised the Company on the transaction. Mr. Glasman is based in CEA's New York office.

About CEA
Founded in 1973, CEA is a leading provider of investment banking services and private equity to the global communications, media, entertainment, and information technology industries. With a team of highly experienced personnel worldwide, CEA has an unequaled depth and breadth of industry knowledge, expertise and long-standing industry relationships. CEA has completed over 900 transactions totaling $40 billion in 60 countries. CEA's and its affiliates also manage, co-manage or participate in a worldwide family of private equity funds with committed capital of approximately $1.15 billion for private equity investments in the industries CEA serves. CEA's reputation and track record of success are built on delivering innovative, value-added solutions and services to clients worldwide. CEA Media Group, LLC is a member of the NASD and SIPC.