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Liberty International Spinoff Date: June 1

5/24/2004 10:24 AM Eastern

Liberty Media Corp. said Monday that the date of record for its previously announced Liberty Media International Inc. spinoff will be 5 p.m. (EST) June 1.

LMI includes Liberty’s stake in UnitedGlobalCom Inc., a 45% interest in Japanese cable company Jupiter Telecommunications Co. Ltd. and a 50% interest in Japanese programmer Jupiter Programming Co. Ltd.

Holders of Liberty series-A and series-B common stock will receive 0.05 shares of the corresponding series of LMI common stock for each share of Liberty common stock held as of the record date, and cash will be delivered in lieu of fractional share interests, the company said.

Shares of LMI common stock are expected to be distributed on or about June 7, subject to clearance by the Securities and Exchange Commission of its Form 10 Registration Statement.

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