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Liberty Media International, Inc. Fourth Quarter Supplemental
Financial Information
ENGLEWOOD, Colo., March 14 /PRNewswire-FirstCall/ -- On March 14, 2005,
Liberty Media International, Inc. (NASDAQ:LBTYANASDAQ:LBTYB) (LMI) filed its
Form 10-K with the Securities and Exchange Commission for the year ended
December 31, 2004. This press release is being provided to supplement the
information provided to investors in LMI's Form 10-K as filed with the SEC.
The information in this release is not meant to serve as a release of financial
results for LMI. For information regarding LMI's financial results, investors
should refer to LMI's financial statements included in its Form 10-K.
LMI owns interests in broadband distribution and content companies operating
outside the U.S., principally in Europe, Asia, and Latin America. Our
businesses include UnitedGlobalCom, Inc. (UGC), Jupiter Telecommunications Co.,
Ltd. (J-COM), Jupiter Programming Co., Ltd. (JPC), Liberty Cablevision of
Puerto Rico Ltd. and Pramer S.C.A.
Following is summary financial information and a discussion of the results of
our largest subsidiary and our two largest equity affiliates. To enable
investors to better understand the results of these companies, this information
presents 100% of the revenue and operating cash flow for UGC, J-COM and JPC
even though we own less than 100% of these businesses. Unless otherwise noted,
the following discussion compares financial information for the three months
and year ended December 31, 2004 to the same periods in 2003. Please see page 9
of this press release for how we define operating cash flow and a discussion of
management's use of this performance measure as well as a reconciliation of
operating cash flow to operating income calculated in accordance with generally
accepted accounting principles in the United States (GAAP) for the quarters and
years ended December 31, 2004 and 2003 for the aforementioned businesses.
The selected financial information presented for J-COM and JPC was obtained
directly from those equity affiliates. LMI does not control the
decision-making processes or business management practices of its equity
affiliates. Accordingly, LMI relies on the management of these affiliates and
their independent auditors to provide accurate financial information prepared
in accordance with GAAP that LMI uses in the application of the equity method.
As a result, LMI makes no representations as to whether such information
presented on a stand-alone basis has been prepared in accordance with GAAP. LMI
is not aware, however, of any errors in or possible misstatements of the
financial information provided to it by its equity affiliates that would have a
material effect on LMI's consolidated financial statements. Further, LMI could
not, among other things, cause any noncontrolled affiliate to distribute to LMI
its proportionate share of the revenue or operating cash flow of such
affiliate.
OPERATING RESULTS
UnitedGlobalCom, Inc. (UGC) (54% / 91%)
LMI owned 54% of UGC as of December 31, 2004 and controlled 91% of the vote.
UGC is a leading international broadband communications provider of video,
voice, and broadband Internet services with operations in 16 countries, 13 of
which are in Europe. As a separate publicly traded company (NASDAQ: UCOMA),
UGC reported its fourth quarter results on March 14, 2005.
UGC
Summary Financial Information
(in primary
functional
(in US$) currency)
4Q04 4Q03 4Q04 4Q03
(amounts in millions)
Revenue
UPC Broadband $508 412 Euro 394 347
VTR 83 68 CP 49,377 42,547
chellomedia 66 58 Euro 51 49
Noos & Chorus 144 -- Euro 113 --
Eliminations & Other (26) (22)
Total Revenue $775 516
Operating Cash Flow
UPC Broadband $189 164 Euro 147 137
VTR 34 22 CP 20,015 13,815
chellomedia 18 10 Euro 14 8
Noos & Chorus 35 -- Euro 27 --
Other (37) (10)
Total Operating
Cash Flow $239 186
Operating Loss $(123) (466)
Outstanding Debt
(at December 31)
$4,879 3,927
Operating Statistics (1)
(at December 31)
(figures in thousands)
Homes Passed 15,957 12,260
Total Video
Subscribers (2) 8,726 7,340
Internet Subscribers 1,401 923
Telephone Subscribers 804 733
UGC
Summary Financial Information
(in primary
functional
(in US$) currency)
2004 2003 2004 2003
(amounts in millions)
Revenue
UPC Broadband $1,850 1,528 Euro 1,488 1,350
VTR 300 230 CP 182,541 157,676
chellomedia 245 220 Euro 197 195
Noos & Chorus 233 -- Euro 186 --
Eliminations & Other (103) (86)
Total Revenue $2,525 1,892
Operating Cash Flow
UPC Broadband $756 583 Euro 609 514
VTR 109 70 CP 66,082 47,801
chellomedia 53 36 Euro 43 32
Noos & Chorus 53 -- Euro 42 --
Other (92) (60)
Total Operating
Cash Flow $879 629
Operating Loss $(241) (656)
Outstanding Debt
(at December 31)
Operating Statistics (1)
(at December 31)
(figures in thousands)
Homes Passed
Total Video Subscribers (2)
Internet Subscribers
Telephone Subscribers
(1) Includes 2004 acquisitions of Noos and Chorus. See definitions in
Supplemental Operating Information section on page 8.
(2) Represents the sum of basic cable subscribers, DTH subscribers and
MMDS subscribers, as applicable.
Revenue for the three months and year ended December 31, 2004 was up 50% and
34%, respectively, compared to the prior year. Excluding the impact of
exchange rates and acquisitions, organic year-over-year revenue growth was
approximately 11%. These increases were driven by higher average monthly
revenue per subscriber and subscriber growth across all of UGC's services.
Operating cash flow for the fourth quarter was $239 million, an increase of 28%
compared to the prior year. Operating cash flow for the full year was $879
million, an increase of 40% compared to 2003. Excluding the impact of exchange
rate fluctuations and acquisitions, organic operating cash flow growth was
approximately 20% for the year. UGC continues to benefit from organizational,
operating, and network efficiencies, as the operating cash flow as a percent of
revenue improved from 33.2% in 2003 to 34.8% in 2004. For the fourth quarter,
the operating cash flow as a percent of revenue was relatively flat compared to
the fourth quarter of 2003 due primarily to acquisitions and one-time costs
associated with the termination of a programming contract.
Full year capital expenditures were $480 million compared to $333 million for
the prior year. The primary reason for the increase was higher spending on
customer premise equipment due to subscriber growth as well as exchange rate
fluctuations.
During 2004, including acquisitions, UGC increased total video subscribers by
1,386,000, total Internet subscribers by 478,000 and total telephone
subscribers by 71,000.
Jupiter Telecommunications Co., Ltd. (J-COM) (45.45%)
J-COM is Japan's largest multiple system operator (MSO) based on the number of
customers served. J-COM and its subsidiaries provide cable television,
Internet access and telephony services in Japan.
J-COM
Summary Financial Information
(in US$) (in Yen)
4Q04 4Q03 4Q04 4Q03
(amounts in millions)
Revenue $415 347 Yen 42,964 38,500
Operating Expenses 258 220 26,734 24,314
Operating Cash Flow $157 127 Yen 16,230 14,186
Operating Income $42 36 Yen 4,285 4,023
Outstanding Debt
(at December 31)
Third-Party Debt $2,261 984 Yen 231,529 105,662
Shareholder Debt -- 1,395 -- 149,739
Outstanding Debt $2,261 2,379 Yen 231,529 255,401
Consolidated Operating
Statistics (1)
(at December 31)
(figures in thousands)
Homes Passed (2) 6,288 5,489
Total Video
Subscribers (3) 1,483 1,419
Internet Subscribers 709 597
Telephone Subscribers 726 527
J-COM
Summary Financial Information
(in US$) (in Yen)
2004 2003 2004 2003
(amounts in millions)
Revenue $1,505 1,233 Yen 161,346 143,159
Operating Expenses 915 805 98,097 93,426
Operating Cash Flow $590 428 Yen 63,249 49,733
Operating Income $210 114 Yen 22,592 13,202
Outstanding Debt
(at December 31)
Third-Party Debt
Shareholder Debt
Outstanding Debt
Consolidated Operating
Statistics (1)
(at December 31)
(figures in thousands)
Homes Passed (2)
Total Video Subscribers (3)
Internet Subscribers
Telephone Subscribers
(1) See definitions in Supplemental Operating Information section on
page 8.
(2) As a result of a mapping audits J-COM increased its cable homes
passed during 2004.
(3) Represents the sum of basic cable subscribers, DTH subscribers
and MMDS subscribers, as applicable.
Revenue increased 20% and 22% for the three months and year ended December 31,
2004, respectively. Excluding the effect of exchange rates, revenue increased
12% in the fourth quarter, as compared to the fourth quarter of 2003, and 13%
for the year, as compared to 2003. Revenue increases were due to increased
distribution across all of J-COM's services, with the most substantial growth
coming from Internet and telephone services. Total video subscribers increased
5%, Internet subscribers increased 19% and telephone subscribers increased 38%.
Operating cash flow increased 24% and 38% for the three months and year ended
December 31, 2004, respectively. Excluding the effect of exchange rates,
operating cash flow increased 14% for the fourth quarter of 2004, as compared
to the fourth quarter of 2003, and 27% for the year, as compared to 2003.
Operating cash flow increased due to the revenue increases combined with margin
improvements associated with increased scale. Operating cash flow as a percent
of revenue for the year increased to 39% from 35%.
J-COM served approximately 1.7 million homes at December 31, 2004, an increase
of 7% from December 2003. Penetration of homes taking at least one service was
28% at December 31, 2004. Approximately 48% of J-COM's customers subscribed to
more than one service at December 31, 2004, which translated into approximately
832,000 homes with multiple services. This represents a 15% increase in homes
with multiple services since the end of 2003. The triple play service option
(taking all three services available) has steadily increased to 20% of J-COM's
homes at December 31, 2004 compared to 14% at December 31, 2003. J-COM's
network operates at a bandwidth of 750 or 770 MHz.
At December 31, 2004, J-COM's weighted average ownership of its total
consolidated subscribers was 81.5% compared to 81.3% at the same time last
year.
Jupiter Programming Co., Ltd. (JPC) (50.0%)
LMI owned 50% of JPC at December 31, 2004. JPC is the largest multi- channel
pay television programming and content provider in Japan based upon the number
of subscribers receiving the channels. JPC currently owns or has investments
in 16 channels.
JPC
Summary Financial Information
(in US$) (in Yen)
4Q04 4Q03 4Q04 4Q03
(amounts in millions)
Revenue $176 129 Yen 18,302 14,088
Operating Expenses 153 110 15,920 11,986
Operating Cash Flow $23 19 Yen 2,382 2,102
Operating Income $18 16 Yen 1,898 1,781
Outstanding Debt (1)
(at December 31) $60 61 Yen 6,113 6,567
Cumulative Subscribers (2)
(in thousands)
(at December 31) 45,480 41,770
JPC
Summary Financial Information
(in US$) (in Yen)
2004 2003 2004 2003
(amounts in millions)
Revenue $563 412 Yen 60,481 47,818
Operating Expenses 483 358 51,879 41,492
Operating Cash Flow $80 54 Yen 8,602 6,326
Operating Income $67 44 Yen 7,222 5,116
Outstanding Debt (1)
(at December 31)
Cumulative Subscribers (2)
(in thousands)
(at December 31)
(1) Includes shareholder debt of $10 million and $9 million at
December 31, 2004 and 2003, respectively.
(2) Includes subscribers at all consolidated and equity owned JPC
channels. Shop Channel subscribers are stated on a full-time
equivalent basis.
JPC's revenue increased 36% and 37% for the three months and year ended
December 31, 2004, respectively. Excluding the effect of exchange rates,
revenue increased 30% for the fourth quarter, as compared to the fourth quarter
of 2003, and 26% for the year, as compared to 2003. Revenue increased largely
due to increases in retail sales at Shop Channel and in subscription and
advertising revenues at the other channels. Shop Channel, which is 70%- owned
by JPC, was the largest contributor generating approximately 89% of the
increase during the quarter and year ended December 31, 2004 versus the
corresponding periods in 2003. This increase was driven by an 11% increase in
full-time equivalent ("FTE") homes and an increase of 15% in sales per FTE. In
addition to the growth at Shop Channel, subscribers grew by 9% at Movie Plus,
10% at Golf Network, 8% at J-Sports, 12% at Discovery Channel Japan, 19% at
Animal Planet Japan and 15% at AXN Japan.
JPC's operating cash flow increased 21% and 48% for the three months and year
ended December 31, 2004, respectively. Excluding the effect of exchange rates,
operating cash flow increased 13% for the fourth quarter, as compared to the
fourth quarter of 2003, and 36% for the year, as compared to 2003. Operating
cash flow increased due primarily to revenue increases, partially offset by
higher cost of goods sold, fulfillment, telemarketing, programming, marketing
and general and administrative expenses.
Free Cash Flow
For the year ended
December 31, 2004
UGC J-COM JPC
(amounts in millions)
Net cash provided by operations $699 489 48
Capital expenditures (1) (480) (413) (46)
Free cash flow $219 76 2
(1) Capital expenditures for J-COM and JPC include equipment purchased
under capital leases.
CORPORATE & OTHER
Cash, Carrying Value of Non Strategic Holdings and Debt
December 31, September 30,
2004 2004
(amounts in millions)
Consolidated Cash & Cash Equivalents $2,531 1,739
LMI Non-Strategic Investments
News Corporation, Inc. (1), (2) $103 157
ABC Family Preferred $387 407
Telewest Global, Inc. (3) $-- 91
UGC Non-Strategic Investments
SBS Broadcasting S.A. $242 202
Consolidated Debt
Parent Debt $-- --
UGC Debt 4,879 4,286
Other Subsidiary Debt 140 63
Consolidated Debt $5,019 4,349
(1) LMI has entered into a variable forward transaction with respect to
this investment.
(2) During the fourth quarter of 2004, LMI sold 4.5 million shares of
News Corporation, Inc. common stock. At December 31, 2004, LMI
holds 5.5 million shares.
(3) On July 19, 2004, our investment in Telewest Communications plc
Senior Notes and Senior Discount Notes was converted into shares of
common stock of Telewest Global, Inc. All of these shares were sold
during the third and fourth quarters of 2004.
At December 31, 2004 and September 30, 2004, consolidated cash includes $1,029
million and $982 million, respectively, of cash at UGC.
Outstanding Shares
At December 31, 2004, there were approximately 173 million outstanding shares
of LBTYA and LBTYB and 12 million shares of LBTYA and LBTYB reserved for
issuance pursuant to stock options.
Other Items
During the fourth quarter, LMI sold all of its remaining 7.9 million shares of
Telewest common stock for aggregate proceeds of approximately $93 million.
Also during the fourth quarter, LMI sold 4.5 million shares of News Corp.
common stock for aggregate proceeds of approximately $84 million ($30 million
of which was received in the first quarter of 2005).
LMI and Sumitomo Corporation entered into a contribution agreement whereby, on
December 28, 2004, LMI's 45.45% ownership interest in J-COM and an approximate
20% ownership interest in J-COM owned by Sumitomo were combined in a holding
company named LMI/Sumisho Super Media, LLC (Super Media). Subject to certain
conditions, Sumitomo has the obligation to contribute to Super Media
substantially all of its remaining 12% ownership interest in J-COM during 2005.
On February 18, 2005, J-COM announced an initial public offering of its common
shares in Japan. Under the terms of Super Media's operating agreement, the
J-COM IPO announcement triggered LMI's casting or tie-breaking vote with
respect to decisions of the Super Media management committee thereby allowing
LMI to consolidate Super Media and J-COM effective as of January 1, 2005.
On December 6, 2004, LMI announced that it repurchased 3.0 million shares of
its Series A common stock from Comcast Corporation for approximately $128
million in cash.
On December 21, 2004, LMI announced that it received Yen 43.8 billion ($420
million) in cash from J-COM and another affiliate in full satisfaction of all
shareholder loans, including accrued interest thereon, owed by them to LMI.
J-COM and the other affiliate were able to repay all of their shareholder loans
and J-COM eliminated a significant portion of the shareholder guarantees as a
result of refinancing certain of its indebtedness.
On January 17, 2005, LMI and UGC entered into an agreement and plan of merger
that would create a new company named Liberty Global, Inc. Completion of the
transaction is subject to, among other things, the approval of both companies'
stockholders, including in the case of UGC, the affirmative vote of a majority
of the voting power of the UGC shares not beneficially owned by LMI, Liberty
Media Corporation, their respective subsidiaries or the executive officers or
directors of LMI, Liberty Media or UGC. LMI and UGC filed preliminary proxy
materials with the SEC on February 14, 2005 and we currently anticipate holding
our respective shareholder meetings in the second quarter. Assuming the
required shareholder votes are received, the transaction can close shortly
thereafter.
Certain statements in this press release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual results,
performance or achievements of the assets of Liberty Media International, Inc.
included herein or industry results, to differ materially from any future
results, performance or achievements expressed or implied by such forward-
looking statements. Such risks, uncertainties and other factors include, among
others: the risks and factors described in the publicly filed documents of LMI,
including the most recently filed Form 10-K of LMI; economic and business
conditions and industry trends in the countries in which we operate; currency
exchange risks; consumer disposable income and spending levels, including the
availability and amount of individual consumer debt; consumer acceptance of
existing service offerings, including our newer digital video, voice and
Internet access services; consumer acceptance of new technology, programming
alternatives and broadband services that we may offer: our ability to manage
rapid technological changes, and grow our digital video, voice and Internet
access services; the regulatory and competitive environment in the broadband
communications and programming industries in the countries in which we operate;
continued consolidation of the foreign broadband distribution industry;
uncertainties inherent in the development and integration of new business lines
and business strategies; the expanded deployment of personal video recorders
and the impact on television advertising revenue; capital spending for the
acquisition and/or development of telecommunications networks and services;
uncertainties associated with product and service development and market
acceptance, including the development and provision of programming for new
television and telecommunications technologies; future financial performance,
including availability, terms and deployment of capital; the ability of
suppliers and vendors to timely deliver products, equipment, software and
services; the outcome of any pending or threatened litigation; availability of
qualified personnel; changes in, or failure or inability to comply with,
government regulations in the countries in which we operate and adverse
outcomes from regulatory proceedings; government intervention that opens our
broadband distribution networks to competitors; our ability to successfully
negotiate rate increases with local authorities; changes in the nature of key
strategic relationships with partners and joint venturers; uncertainties
associated with our ability to comply with the internal control requirements of
the Sarbanes Oxley Act of 2002; competitor responses to our products and
services, and the products and services of the entities in which we have
interests; spending on foreign television advertising; and threatened terrorist
attacks and ongoing military action in the Middle East and other parts of the
world. These forward-looking statements speak only as of the date of this
Release. LMI expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statement contained herein to
reflect any change in LMI's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based.
SUPPLEMENTAL OPERATING INFORMATION
As a supplement to LMI's consolidated statements of operations, the following
is a presentation of operating metrics on a stand-alone basis for LMI's two
largest broadband distribution businesses (UGC and J-COM).
December 31,
2004 2003
UGC (54% / 91%) (1) (amounts in thousands)
Homes Passed (2) 15,957 12,260
Basic Cable Subscribers (3) 8,326 7,143
Digital Cable Subscribers (4) 725 145
DTH Subscribers (5) 250 197
MMDS Subscribers (6) 150 --
Internet Homes Serviceable (7) 10,303 7,045
Internet Subscribers (8) 1,401 923
Telephone Homes Serviceable (9) 5,512 4,468
Telephone Subscribers(10) 804 733
J-COM (45.45%)
Homes Passed (2) 6,288 5,489
Basic Cable Subscribers (3) 1,483 1,419
Digital Cable Subscribers (4) 232 24
Internet Homes Serviceable (7) 6,276 5,478
Internet Subscribers (8) 709 597
Telephone Homes Serviceable (9) 5,799 3,932
Telephone Subscribers (10) 726 527
(1) In some cases, non-paying subscribers are counted by UGC as
subscribers during their free promotional service period. Some of
these subscribers choose to disconnect after their free service
period. The number of non-paying subscribers at December 31, 2004
was immaterial.
(2) Homes Passed are homes that can be connected to our networks without
further extending the distribution plant, except for DTH and MMDS
homes. With respect to DTH, we do not count homes passed. With
respect to MMDS, one home passed is equal to one MMDS subscriber.
(3) Basic Cable Subscriber is comprised of basic cable video customers
(both analog and digital) that generally are counted on a per
connection basis. Except in the case of UGC, residential multiple
dwelling units with a discounted pricing structure are counted on an
equivalent bulk unit (EBU) basis. Commercial contracts such as
hotels and hospitals are counted by all our subsidiaries on an EBU
basis. EBU is calculated by dividing the bulk price charged to
accounts in an area by the prevalent price charged to non-bulk
residential customers in that market for the comparable tier of
service. UGC also has "lifeline" customers (approximately
1.34 million at December 31, 2004) that are counted on a per
connection basis, representing the least expensive regulated tier of
basic cable service, with only a few channels.
(4) Digital Cable Subscriber is a customer with one or more digital
converter boxes that receives our digital video service. A Digital
Cable Subscriber is counted as one Basic Cable Subscriber whether
such customer receives only our digital video service or both analog
and digital video services.
(5) DTH Subscriber is a home or commercial unit that receives our video
programming broadcast directly to the home via a geosynchronous
satellite.
(6) MMDS Subscriber is a home or commercial unit that receives our video
programming via a multipoint microwave (wireless) distribution
system.
(7) Internet Homes Serviceable are homes that can be connected to our
networks, where customers can request and receive Internet access
services.
(8) Internet Subscriber is a home or commercial unit with one or more
cable modems connected to our networks, where a customer has
requested and is receiving high-speed Internet access services.
(9) Telephony Homes Serviceable are homes that can be connected to our
networks, where customers can request and receive voice services.
(10) Telephony Subscriber is a home or commercial unit connected to our
networks, where a customer has requested and is receiving voice
services.
NON-GAAP FINANCIAL MEASURES
This press release includes a presentation of operating cash flow, which is a
non-GAAP financial measure, for UGC, J-COM and JPC. Set forth in the table
below is a reconciliation of that non-GAAP measure to each of the business'
operating income, determined under GAAP. LMI defines operating cash flow as
revenue less operating and SG&A expenses (excluding stock-based compensation,
depreciation and amortization, impairment of long-lived assets, and
restructuring charges). LMI believes this is an important indicator of the
operational strength and performance of its businesses, including the ability
to service debt and fund capital expenditures. In addition, this measure allows
management to view operating results and perform analytical comparisons and
benchmarking between businesses and identify strategies to improve performance.
In this regard, LMI believes that operating cash flow is meaningful because it
provides investors a means to evaluate the operating performance of the Company
and its reportable segments on an ongoing basis using criteria that is used by
LMI's internal decision makers. This measure of performance excludes
depreciation and amortization, stock-based compensation and restructuring and
impairment charges that are included in the measurement of operating income
pursuant to GAAP. Accordingly, operating cash flow should be considered in
addition to, but not as a substitute for, operating income, net income, cash
flow provided by operating activities and other measures of financial
performance prepared in accordance with GAAP. LMI generally accounts for
intersegment sales and transfers as if the sales or transfers were to third
parties, that is, at current prices.
Please see the schedule below for a reconciliation of operating cash flow to
operating income calculated in accordance with GAAP for the three months and
years ended December 31, 2004 and 2003 for UGC, J-COM and JPC.
UGC J-COM JPC
Three months ended
December 31, 2004 (amounts in millions)
Operating Cash Flow $239 157 23
Depreciation and Amortization (268) (115) (5)
Stock Compensation Expense (53) -- --
Other Non Cash Charges (41) -- --
Operating (Loss) Income $(123) 42 18
Three months ended
December 31, 2003
Operating Cash Flow $186 127 19
Depreciation and Amortization (210) (91) (3)
Stock Compensation Expense (9) -- --
Other Non Cash Charges (433) -- --
Operating (Loss) Income $(466) 36 16
Year ended December 31, 2004
Operating Cash Flow $879 590 80
Depreciation and Amortization (935) (379) (13)
Stock Compensation Expense (117) (1) --
Other Non Cash Charges (68) -- --
Operating (Loss) Income $(241) 210 67
Year ended December 31, 2003
Operating Cash Flow $629 428 54
Depreciation and Amortization (809) (314) (10)
Stock Compensation Expense (38) -- --
Other Non Cash Charges (438) -- --
Operating (Loss) Income $(656) 114 44
Important Notice: Liberty Media International, Inc. (LMI) (NASDAQ:LBTYANASDAQ:
LBTYB) Chairman, President and CEO, John Malone, will discuss LMI's fourth
quarter results in a conference call which will begin at 1:00 p.m. (ET) March
14, 2005. The call can be accessed by dialing (719) 457-2626 or (800) 967-7135
at least 10 minutes prior to the start time. There will not be a replay of the
conference call. The call will also be broadcast live across the Internet. To
access the web cast go to
http://www.libertymediainternational.com/ir/default.htm. Links to this press
release will also be available on the LMI web site.
DATASOURCE: Liberty Media International, Inc.
CONTACT: Mike Erickson of Liberty Media International, Inc.,
+1-877-772-1518
Web site: http://www.libertymediainternational.com/
http://www.libertymediainternational.com/ir/default.htm