Hicks Muse Completes Acquisition of Major Equity Stake In CEI Citicorp Holdings.DALLAS--(BUSINESS WIRE)--August 5, 1998--Hicks, Muse, Tate & Furst Incorporated today announced that it has completed its previously announced acquisition of a 32.7% equity stake in CEI CEI Competitive Enterprise Institute CEI Conferenza Episcopale Italiana (Italian bishop conference) CEI Central European Initiative CEI Comitato Elettrotecnico Italiano (Italian Electrotechnical Committee) Citicorp Holdings S.A. (Buenos Aires Stock Exchange Buenos Aires Stock Exchange (Bolsa de Comercio de Buenos Aires) Argentina's major securities market. : CITI CITI Columbia Institute for Tele-Information (Columbia University) CITI Center for Information Technology Integration (University of Michigan) CITI Collaborative IRB Training Initiative ), a leading Argentine telecommunications, cable television and media holding company. Hicks Muse and certain of its limited partners have invested approximately $720 million of equity capital to acquire shares of CEI that were held by two major shareholders, Citibank N.A. (through International Equity Investments, Inc.) and Los W S.A., controlled by the Werthein family of Argentina. CEI has significant investments in leading Argentine companies, including Cointel, which controls Telefonica de Argentina (NYSE NYSE See: New York Stock Exchange :TAR), the country's largest telephone company; Cablevision, the largest cable television operator; and other media-related businesses through its investments in Torneos y Competencias Torneos y Competencias (TyC) is an Argentine sports communications firm created by Paraguayan businessman Carlos Ávila. It is an important force in the world of Argentine sports, with interests in publications and radio and TV broadcasting. S.A, a provider of sports and entertainment programsand owner of open air TV channel Telearte Canal 9, and Atlantida Comunicaciones S.A., a leading magazine publisher and owner of open air TV channel Telefe (Canal 11). Since its formation in 1989, Hicks, Muse, Tate & Furst Incorporated has completed or currently has pending more than 200 acquisitions with a total capital value of approximately $29 billion. In Latin America, Hicks Muse has invested or committed to invest more than $1.2 billion of equity capital in several companies in the media, financial services, manufacturing and food sectors. Headquartered in Dallas, the firm also has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , St. Louis, Mexico City and Buenos Aires.
CONTACT: Mark Semer or
Roy Winnick
Kekst and Company
212-521-4802 or 4842
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