Class Action Announced on Behalf of UnitedGlobalCom, Inc. Shareholders

The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:

Notice is hereby given that a class action lawsuit, challenging the fairness of the recent merger proposal made by Liberty Media International, Inc. ("Liberty Media"), was filed in the Court of Chancery in the State of Delaware on behalf of all who held shares of UnitedGlobalCom, Inc. ("UnitedGlobal" or the "Company") (NASDAQ: UCOMA).

The complaint alleges that on January 18, 2005, UnitedGlobal announced that Liberty Media has made a proposal to acquire all of the Company's common stock that it does not already own at a price of approximately $3.65 billion (the "Buyout" or "Buyout Proposal"). UnitedGlobal shareholders would receive 0.2155 shares of Liberty Global Inc., the successor entity, for each share of UnitedGlobal, and investors in Liberty Media would get one share of Liberty Global Inc. for each share they hold. Liberty Media also offered a cash alternative of $9.58 per share UnitedGlobal stock, limited to 20% of the total offer. According to the complaint, the consideration offered in the Buyout is wholly inadequate and fails to offer fair value to the Company's shareholders for their equity interests in UnitedGlobal. In fact, the Company's stock traded in excess of the Buyout price as recently as the day prior to the announcement, and has been trading at or over that price for at least the past month. Moreover, the complaint alleges that Liberty Media had timed the proposal to freeze out UnitedGlobal's public shareholders in order to capture for itself UnitedGlobal's future potential without paying an adequate or fair price to the Company's public shareholders and that Liberty Media timed the announcement of the proposed buyout to place an artificial lid on the market price of UnitedGlobal's stock so that the market would not reflect UnitedGlobal's improving potential, thereby purporting to justify an unreasonably low price.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Darren J. Check, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbclasslaw.com.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered in excess of a billion dollars on behalf of institutional and high net worth individual investors. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com

CONTACT:
Schiffrin & Barroway, LLP
Marc A. Topaz, Esq.
Darren J. Check, Esq.
Three Bala Plaza East, Suite 400
Bala Cynwyd, PA 19004
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@sbclasslaw.com