Liberty’s Belgian Cable Investors Increase Stake in Telenet

DENVER,
November 13: Liberty Global has announced that Belgian Cable Investors, a
company it controls, has exercised options to purchase 6.75 million shares in
Telenet Group Holding, the largest cable operator in Belgium, for a total price
of 135 million euros, or 20 euros per share.

The
shares will be purchased from various “Mixed Intercommunales,” which are
entities comprised of certain Flanders municipalities and Electrabel. As a
result, Liberty Global will increase its controlled shareholding from 21.37
percent to 28.07 percent of the outstanding shares of Telenet.

“Current
market conditions allowed us to exercise these options, enhancing the value of
our existing investment in Telenet,” said Mike Fries, the president and CEO of
Liberty Global. “Telenet has a robust market position and we remain very
supportive of the company and the management team”.

Telenet
offers cable television, voice and broadband services to residential customers.
As of June 30, 2006, Telenet had approximately 2,884,000 revenue-generating
units, including 1,816,000 video RGUs, 399,000 voice RGUs and 669,000 broadband
Internet RGUs.