UGC Europe Special Committee Recommends in Favor of UnitedGlobalCom's Revised Exchange Offer

UGC Europe Special Committee Recommends in Favor of UnitedGlobalCom's Revised
Exchange Offer 


DENVER, Dec. 8  /PRNewswire-FirstCall/ -- UGC Europe, Inc.  announced today that
the Special Committee of the Board of Directors has determined that the revised
exchange offer (the "Offer") announced by its majority stockholder,
UnitedGlobalCom, Inc. , including the exchange ratio of 10.3 shares of
UnitedGlobalCom Class A common stock for each share of UGC Europe common stock
that UnitedGlobalCom and its subsidiaries do not already own, is in the best
interests of the holders of UGC Europe common stock, other than UnitedGlobalCom
and its affiliates, and recommends that stockholders accept the Offer and tender
their shares.

UnitedGlobalCom's revised Offer reflects an increase in the exchange ratio to
10.3 from 9.0.  UnitedGlobalCom has also stated that it will not waive the
condition to the Offer that a sufficient number of shares of UGC Europe common
stock are tendered to result in UnitedGlobalCom and its affiliates owning at
least 90% of UGC Europe's outstanding common stock.  Moreover, in connection
with the revised Offer, Liberty Media Corporation, the controlling stockholder
of UnitedGlobalCom, has agreed to limits on the exercise of its preemptive
rights.

This press release relates to UnitedGlobalCom's Offer commenced on October 6,
2003.  In connection with the Offer, UGC Europe has filed certain materials with
the SEC, including a Solicitation/Recommendation Statement on Schedule 14D-9. 
STOCKHOLDERS ARE URGED TO READ THE SOLICITATION/RECOMMENDATION STATEMENT ON
SCHEDULE 14D-9 AND ANY AMENDMENTS THERETO WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION.  Investors can obtain a free copy of
the Solicitation/Recommendation Statement on Schedule 14D-9 and any amendments
thereto when they come available and all other filings by UGC Europe with the
SEC at the SEC's website at http://www.sec.gov/ .  In addition, these materials
may be obtained free from UGC Europe by directing a request to UGC Europe, Inc.,
4643 South Ulster Street, Suite 1300, Denver, Colorado 80237, 303-220-4204,
Attention: Investor Relations. 

DATASOURCE: UGC Europe, Inc.



CONTACT:  UGC Europe, Inc., Investor Relations, [phone]

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