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Liberty Global Announces Its Intention To Proceed With The Offer For Telenet At €35.00 Per Share While Removing The 95% Minimum Acceptance Condition

Liberty Global also notes that if the Intended Offer is launched and completed, Telenet’s intended voluntary and conditional bid announced on August 13, 2012 for 18.20% of its share capital at an offer price of €31.75 per Telenet share will be cancelled.

If the Intended Offer is confirmed, Binan Investments B.V., a wholly-owned indirect subsidiary of Liberty Global, will act as bidder. Binan Investments B.V. will in due course communicate where the prospectus and the response memorandum will be made available.

Forward-Looking Statements

This press release does not constitute an offer to purchase securities of Telenet or its affiliates nor a solicitation by anyone in any jurisdiction in respect thereof. If Liberty Global decides to proceed with an offer to purchase Telenet securities through a public tender offer, such offer will and can only be made on the basis of an approved prospectus by the FSMA. No action has been taken to enable a public bid in any jurisdiction and no such steps shall be taken prior to Liberty Global’s decision to proceed with a public tender offer. Neither this press release nor any other information in respect of the matters contained herein may be supplied in any jurisdiction where a registration, qualification or any other obligation is in force or would be with regard to the content hereof or thereof. Any failure to comply with these restrictions may constitute a violation of the financial laws and regulations in such jurisdictions.

Various statements contained in this press release constitute forward-looking statements of Liberty Global, including statements regarding its intention to proceed with the Intended Offer based on a price of €35.00 per Telenet share, its intention to remove the 95% minimum acceptance condition, its belief as to the updated long-term assumptions that served as a basis for the draft valuation report used by Lazard, the assumptions underlying its assessment of the value per share for Telenet, its belief as to the intrinsic value of Telenet and the premium represented by the Intended Offer, and any other information and statements that are not historical fact. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include overall financial market conditions, any material business or financial developments at Telenet, Liberty Global’s ability to raise satisfactory financing, the continued use by subscribers and potential subscribers of Telenet’s services, Liberty Global’s ability to achieve expected operational efficiencies and economies of scale, as well as other factors to be described in Liberty Global’s prospectus for its tender offer or as detailed from time to time in Liberty Global's filings with the Securities and Exchange Commission, including its most recently filed Forms 10-K and 10-Q. These forward-looking statements speak only as of the date of this release. Liberty Global expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Global's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, except as required by applicable law.

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