ACQUISITION OF TV SHOW (BRAZIL)
AND STAR GLOBAL COM (PERU)

January 23, 2008. Communications Equity Associates ("CEA") announced today that it advised an investor group ("Investor Group") on the acquisition of a controlling equity stake in Old UGC, Inc. ("Old UGC") from Liberty Global, Inc. Old UGC owns equity interests in Pay-TV companies: (i) TV Show in Fortaleza City, Brazil and (ii) Star Global Com in the cities of Arequipa and Tacna, Peru. The Investor Group includes Bay Harbour Management, Donald Russell Family Investments and certain acquisition vehicles controlled by J. Patrick (Rick) Michaels, Jr., CEA's Chairman and CEO.

TV Show is a leading Pay-TV and broadband connectivity provider in the City of Fortaleza, Brazil, with approximately 15,500 revenue generating units ("RGUs").  TV Show holds an MMDS license and is currently exploring certain uses of its spectrum for WiMax applications. Fortaleza is Brazil's fifth largest city, with a population of approximately 2.5 million.

Star Global Com, is a leading provider of Pay-TV and broadband connectivity in Southern Peruvian Cities of Arequipa and Tacna. Star Global Com has approximately 16,500 RGUs on its 700-kilometer hybrid cable-coaxial network, passing approximately 68,000 homes. Arequipa is Peru's second largest city, with a population of approximately 800,000.

Bay Harbour Management is a US-based hedge fund with approximately $1.25 billion under management. Donald Russell Family Investments is an investment vehicle owned by Donald Russell, who has been affiliated with CEA since 1978. Donald Russell has now added the title of President and COO of Old UGC.

Waldo Glasman, Managing Director of CEA's Latin America Corporate Finance Advisory Group, advised the Investor Group on the acquisition. 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.