Gustavo Cisneros Named 2005 Personality of the Year By MIPCOM.

MIAMI -- The Cisneros Group of Companies today announced that Gustavo Cisneros, Chairman and CEO of the Cisneros Group, has been named MIPCOM 2005 Personality of the Year by Reed MIDEM, a global leader in the organization of international professional markets.

Mr. Cisneros will receive the Award during the 21st annual MIPCOM TV and video conference to be held on October 19th at Palais des Festivals, Cannes.

"We are delighted to honor the man who has built the Cisneros Group of Companies into the media giant it is today, not only in Latin America but also in the United States and Europe," says Reed MIDEM Chief Executive Officer Paul Zilk. "For over 30 years, Gustavo Cisneros has been at the forefront of Latin America's economic progress and social development. His efforts and the outstanding success of the Cisneros Group, which he oversees, have helped to increase Latin America's profile on the global stage, cultivate new industries, and increase access to information."

Mr. Cisneros is the 14th industry executive to be honored with the award, which was created in 1989 and pays tribute to exceptional careers in and contributions to the international television industry. Mr. Cisneros follows a long list of celebrated nominees, including CNN founder Ted Turner, Viacom Chairman Sumner Redstone, MTV Networks Chairman and CEO Tom Freston, Peter Chernin, President and COO of News Corporation and Chairman and CEO of The Fox Group and Gerhard Zeiler, RTL Group CEO.

Gustavo Cisneros stated, "I am thrilled to be honored by MIPCOM. It is especially gratifying to be recognized for contributions to international television. Crossing borders - not only between nations, but also between cultures and media - is a key element of both my business and philanthropic activities. Moreover I am honored to be in the company of others who have received the Personality of the Year Award, all of whom have made groundbreaking contributions to our field. Of course, credit for the accomplishments that have led to this award is not mine alone. My talented colleagues - all hardworking, intelligent professionals - and, above all else, my wife, Patty, are essential ingredients of my business and philanthropic successes."

Mr. Cisneros has headed the Cisneros Group for over 30 years, overseeing its transformation from local beverage bottling and transport company to an international network of member firms doing business in over 80 countries including media, entertainment, technology, telecommunications, and consumer-products holdings. The Group's holdings include interests in Venevision (the leading broadcast television channel in Venezuela), Venevision International (a Spanish-language entertainment company specializing in TV programming), Univision Communications, Inc. (the leading provider of Spanish-language content to the U.S. Hispanic audience), Movida Communications (the mobile virtual operator for the U.S. Hispanic market), Claxson Interactive Group Inc. (an integrated Ibero-American media and entertainment company), and DIRECTV Latin America (a direct-to-home satellite TV provider).

With annual revenues exceeding $3.5 billion, the Group's business sectors range from broadcast television networks, pay television and interactive services, telecommunications and to beverage businesses and supermarket chains. Through its diverse industries, the Cisneros Group delivers leading brands and high quality services to 550 million Spanish and Portuguese-speaking consumers in the Americas and Europe.

In addition to his responsibilities related to the Cisneros Group, Gustavo Cisneros is a charter member of the United Nations Information and Communication Technologies Task Force. As an ambassador for the media world and the entertainment and communications industries, he regularly participates in a wide range of events and speaks at universities and other venues, including the World Economic Forum, World Management Council, Columbia University, and Rockefeller University, among others.

In 1993, with his wife, Patricia Phelps de Cisneros, and his brother Ricardo, Mr. Cisneros created the Fundacion Cisneros, a philanthropic organization committed to the future of Latin America. The Fundacion operates and funds an array of innovative projects focusing on education, culture, social services, and the environment.

About Reed MIDEM:

Reed MIDEM is a leading organizer of professional, international tradeshows. Reed MIDEM events have established themselves as key dates in professional diaries. The company hosts MIPDOC, MIPTV, MILIA, MIPCOM JUNIOR and MIPCOM for the television and new media industries, MIDEM for music professionals, MIPIM and MAPIC for the property sector and GLOBAL CITY for urban management specialists.

Reed MIDEM is a division of Reed Exhibitions, the world leader in the organization of some 420 public exhibitions and professional tradeshows.