Chellomedia

	KEY FACTS - as of March 31, 2008   Innovative provider of TV channels, content and services for communications and entertainment companies Revenue: $105.8 million for the 3 months ended March 31, 2008, $361.5 million for the 12 months ended December 31, 2007 Content:  26 owned and operated TV channels in premium sports, movies, lifestyle and entertainment, and on-demand services, web and ITV content. Subscribers: 216 million global TV households across consolidated 182 million and non-consolidated 34 million channels, multiplexes and feeds. * Digital services: interactive TV products, end-to-end enhanced TV delivery solution, advanced digital production and broadcast facilities, and on-demand services including NVoD and VoD.   * A subscriber is defined as a TV household enabled to receive each channel, multiplex or feed.

Chellomedia is the European based content division of Liberty Global and a leading international provider and distributor of TV channels, content and digital services.

It currently runs TV and content businesses which comprise a portfolio of 27 TV brands as well as On Demand Services. These brands are managed and distributed in 25 languages through 58 feeds and multiplexes and reach 214 million households worldwide*. Chellomedia has approximately 1,000 employees.

Chellomedia has a strong focus on thematic TV channels, rights aggregation, channel distribution and channel sales & marketing as well as on-demand services, new media and broadband internet content. The division has significantly developed its business and revenues through both M&A, as well as organic growth. A number of the channels are distributed globally such as Zone Reality & the Extreme Sports Channel, whilst some other channels are developed and managed specifically for regional TV markets such as the premium movie and sports bouquet Film1 and Sport1 for the Benelux markets.

Operations and Businesses

Chellomedia’s main operations are based in London, Amsterdam, Budapest and Madrid. Chellomedia runs its businesses through five key business units and operating companies which deliver against three core business objectives: Global TV, Regional TV and Digital Services.

Global TV:

Chello Zone is a 100% owned subsidiary of Chellomedia and a leading international broadcaster and distributor of thematic television channels and operates ten thematic channels: Zone Reality, Zone Reality Extra, Zone Europa, Zone Romantica, Zone Club, Zone Horror, Zone Thriller, Zone Fantasy, Extreme Sports Channel and pre-school TV channel, Jim Jam, an international joint venture with HiT Entertainment.  The channels are broadcast in over 125 countries in 23 languages. Chello Zone also launched a media division, Zone 360, in 2006 to exploit content opportunities across multiple platforms. In addition, Chello Zone has a successful channel representation business and currently represents over 30 international channels from such companies as Discovery, Viacom, Turner, Hallmark and Eurosport.

Regional TV:

Chello Benelux is the leading supplier of premium channels to the Dutch TV market distributing its premium pay TV channels Film1 and Sport1 to cable networks and satellite operators as well as Weerkanaal (weather channel). It also runs the Digital Media Centre (DMC) in Amsterdam, which provides a full range of broadcast services for channel production, origination and distribution, as well as play out and propagation for third party TV channels.

Chello Multicanal is a 100% owned subsidiary of Chellomedia and the leading independent provider of thematic television channels in the Iberian market (Spain, Portugal), operating eight channels which reach 3.5 million households. Its TV brands include Canal Panda, Canal Hollywood, Canal Cocina, Sol Musica, Odiesa and Decasa. It also operates two joint ventures with A&E; Canal de Historia and the Biography Channel.

Chello Central Europe focuses on content brands in Central Europe. Its current portfolio of channels for the region includes Sport1 and Sport2, the leading providers of sports entertainment in Hungary, the Czech Republic, Slovakia and Romania, and Minimax, the leading children’s channel in the region, as well as a joint venture with MGM and three channels acquired in 2007; TV Paprika, TV Deko and Filmmuzeum.  In addition to its portfolio of 7 thematic TV channels, it also operates AT Media, Poland’s leading thematic channel advertising sales agency and Mojo Productions, a full service production house catering to local as well as international channels in the region.

Digital Services; On Demand:

Chellomedia On Demand provides Video On Demand (VOD) services principally to UPC Broadband, leveraging its advanced infrastructure and economies of scale to deliver the best premium movie deals and on demand technology solutions for affiliates across the continent. The On Demand team provides digital customers with a wide range of Hollywood blockbusters and the best European films, as well as music, children’s, factual and entertainment programming, tailored by market and distribution platform.

Investments, LGI Ventures:

LGI Ventures comprises an investment portfolio which consists of both content and platform investments.  This group, run by Chellomedia, actively seeks investments representing 25%-50% ownership, as well as a path to control, which complement Chellomedia’s TV, content and distribution strategy.

Information above is presented as of December 31, 2007, unless otherwise stated.