BUSINESS SECTION

Hispanic News and Information is Big Plus for Fast-Growing New Phone Service

MIAMI – (August 9, 2005) – The Cisneros Group of Companies today announced that Movida, the nation’s first pay-as-you-go wireless communications service specifically targeting the more than 40 million Hispanics living in the United States, will launch an expanded array of information services in mid-September.

Movida, the fastest-growing wireless communications service in the nation, plans to launch in Los Angeles, the nation’s largest Hispanic market, on Monday, August 15.

Movida Chairman Enrique Garcia said: “In September we will begin offering broad access to our unique Hispanic-specific news and information content exclusive to Movida customers including regional news programming, Latin American soccer scores, Hispanic celebrity news and gossip, clips from telenovelas, home country news alerts and Patron Saint of the Day -- a very important feature to many of our U.S.-Hispanic customers,” Mr. Garcia said. “This special information content is provided by the Cisneros Group to Movida and is unavailable through any other wireless phone service,” Mr. Garcia said.

 “We continue to be pleased with Movida’s progress and gratified at the enthusiastic response of Hispanic consumers in our launch markets,” Mr. Garcia added. “Thanks to the support of Wal-Mart the Movida brand is spreading rapidly across the nation.” he said.

Mr. Garcia also said Movida continues to add new features and new equipment to better serve the telecommunications needs of the U.S.-Hispanic market: “Shortly we will launch the sleek and compact Sanyo SCP-200 clamshell design Voice Phone to further enhance our selection of phone products.” Movida has just begun offering the new Kyocera SOHO phone with its unique clamshell design, large color display, web access and lots of exciting personalized features.

Movida was launched at Wal-Mart stores in Phoenix and San Diego in mid-April and now serves Dallas, Houston, San Antonio, El Paso and other cities throughout the Rio Grande Valley in Texas.

Movida – majority-owned by Cisneros -- has teamed with Sprint (NYSE:FON) and Wal-Mart (NYSE:WMT) to begin providing wireless voice and data communications using the Sprint nationwide wireless network, with rate plans that cater to the needs of the U.S. Hispanic market. Through its arrangement with Wal-Mart and other regional sales outlets, Movida is rolling out Movida-branded handsets and cards in select markets starting across the nation.

About Movida

 Movida Communications, Inc. is a newly formed wireless service provider offering pay-as-you-go wireless voice and data communications services exclusively to the U.S. Hispanic population, using Sprint’s all-digital, all-PCS nationwide wireless network.

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As the nation’s first MVNO (Mobile Virtual Network Operator) targeted at Hispanics, Movida offers all standard custom calling features plus a suite of international voice and data services featuring culturally and geographically-focused content in Spanish.

About the Cisneros Group of Companies

The Cisneros Group of Companies is one of the largest privately held media, entertainment, telecommunications, technology, and consumer products organizations in the world. The Group owns, or holds interests in companies ranging from broadcast television networks and pay television services, to beverage businesses and supermarkets. Through its diverse businesses, the Cisneros Group of Companies delivers some of the top brands and the highest quality services to the 550 million Spanish- and Portuguese-speaking consumers in the Americas and Europe.  The Group has recently expanded its activities from Ibero-America to countries worldwide.

The Cisneros Group’s holdings include majority and minority interests and may be held, directly or indirectly, through partnerships, joint ventures or alliances. Some of the Group’s holdings include interests in: Venevisión, the leading broadcast television channel in Venezuela; Venevision International, a Spanish-language entertainment company with specialization in TV programming; Univision Communications Inc. (NYSE: UVN), the number one provider of Spanish-language content to the U.S. Hispanic audience; Movida Communications Group Inc., the first pay-as-you-go wireless communications service specifically targeting Hispanics living in the U.S., Claxson Interactive Group Inc. (XSON), an integrated Ibero-American media and entertainment company; DIRECTV Latin America, a direct-to-home satellite TV provider with operations across the region; Cervecería Regional, the second-largest brewery and beer distributor in Venezuela; and Pueblo, one of the leading supermarket chains in Puerto Rico and the U.S. Virgin Islands.  For more information, visit www.cisneros.com.

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Press Release submitted by:

Christine Cannon

IPR, Inc.

631-776-0247

ccannon@iprmedia.com

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