Crown Media Holdings Files Notice for Extension to File Quarterly Report on Form 10-Q with SEC; Valuations Required Due to Likely Sale of International Business.

GREENWOOD VILLAGE, Colo. -- Crown Media Holdings, Inc. (NASDAQ: CRWN) announced today that will file a notice with the Securities and Exchange Commission that extends the period in which it may file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2004. The extension provided under Rule 12b-25 allows the company to file its Quarterly Report on Form 10-Q on or before November 15, 2004.

Due to the likelihood that the Company will sell its international business, the Company is currently reviewing the valuation of certain assets in connection with generally accepted accounting principles. However, the Company has not yet completed the valuations of these assets. As a result, the Company is not prepared at this time to issue the results of operations for the three and nine months ended September 30, 2004.

The Company will also delay its third quarter earnings call and webcast originally planned for Tuesday, November 9th, 2004 at 12:00 noon Eastern Time. The Company has rescheduled its third quarter conference call to Monday, November 15th, 2004 at 4:00 p.m. Eastern Time to discuss the financial results for the three and nine months ended September 30, 2004. Investors and interested parties may listen to the call via a live webcast accessible on the investor relations page of the Company's web site, www.hallmarkchannel.com, or by dialing [phone] (Domestic) or [phone] (International) and requesting the "Crown Media Third Quarter Earnings" call. For those listeners accessing the call through the Company's website, please register and download audio software at the site at least 15 minutes prior to the start of the call. The webcast will be archived on the site, and a telephone replay of the call will be available for 7 days beginning at 6:00 p.m. Eastern Time, November 15th, at [phone] (Domestic) or [phone] (International), using passcode number 27630378.

About Crown Media Holdings

Crown Media Holdings, Inc. (NASDAQ: CRWN) owns and operates cable television channels dedicated to high quality, broad appeal, entertainment programming. The Company currently operates and distributes the Hallmark Channel in the U.S. and more than 120 countries. The combined channels have nearly 125 million subscribers worldwide. Through its subsidiary, Crown Media Distribution, LLC, Crown also distributes award-winning titles from the Hallmark Entertainment Collection for exhibition in a variety of television media including video-on-demand and high definition television. Significant investors in Crown Media Holdings include: Hallmark Entertainment Holdings, Inc., a subsidiary of Hallmark Cards, Incorporated, Liberty Media Corp., and J.P. Morgan Partners (BHCA), LP, each through their investments in Hallmark Entertainment Investments Co.; VISN Management Corp., a for-profit subsidiary of the National Interfaith Cable Coalition; and Hughes Electronics Corporation.