United Pan-Europe Communications N.V. ("UPC" or the "Company")(EURONEXT Amsterdam: UPC) today announces with reference to the Dutch Implementing Offer made on 14 January 2003 (the "Dutch Implementing Offer"), and the press release dated 26 August 2003, that UGC Europe, Inc. (formerly known as New UPC, Inc.)("UGC Europe") has declared the Dutch Implementing Offer for all issued and outstanding ordinary shares A (the "Ordinary Shares A") in the capital of UPC final and unconditional.
At the end of the offer period on Friday 29 August 2003 at 4:00 pm Central European Time, 105,055,198 Ordinary Shares A were tendered under the Dutch Implementing Offer, representing 23.69% of UPC's total Ordinary Shares A outstanding as per that date, which number excludes the Ordinary Shares A that will be exchanged in UGC Europe shares in accordance with the Restructuring Plan as entered into force in the American Chapter 11 procedure. After acquisition by UGC Europe of the Ordinary Shares A on 3 September 2003 in accordance with the Restructuring Plan and after conversion of a certain number of ordinary shares C, UGC Europe will hold more than 95% of the Ordinary Shares A.
It is expected that the listing of the UPC Ordinary Shares A on Euronext Amsterdam will terminate on 5 September 2003. In that case the last day the UPC shares are traded will be Thursday 4 September 2003.
