Hispanic Television Network - Acquisition of Cubico -

Corrections to and Clarifications of Prior Press Release



Apr 27, 2001, 01:00 ET from Hispanic Television Network

    FORT WORTH, Texas, April 27 /PRNewswire/ --
 Hispanic Television Network (Nasdaq: HTVN) is issuing this press release to
 clarify and correct certain statements in its previous press release issued on
 April 23, 2001 regarding a certain transaction with Cubico (the "Previous
 Release").  The Previous Release indicated that the company had agreed to
 acquire the 52% interest in Cubico.com not already owned by it.  The first
 clarification and correction to the Previous Release is that the company has
 not yet reached a non-binding letter of intent nor a definitive agreement with
 regard to an acquisition that would result in Cubico's becoming a wholly-owned
 subsidiary of the company, although the company continues serious discussions
 to enter into such a transaction.  The second clarification and correction to
 the Previous Release is that the company has not yet consummated the
 acquisition of a 48% interest in Cubico, although it had previously entered
 into a definitive agreement to do so.  The closing date provided for in this
 definitive agreement has lapsed, and each of the company and Cubico have the
 right to terminate this agreement.  The company does not now try to consummate
 the acquisition of a 48% interest in Cubico pursuant to this agreement, but
 instead to continue discussions to acquire all of Cubico.  The possible terms
 of such an acquisition remain undisclosed.
     Cubico is a leading online community site among the 17-29 age demographic.
 Cubico offers cutting edge services that features articles, video clips and
 opinion pieces on today's hottest celebrities, musical artists, and public
 figures.  The editorial content focuses on education and community
 involvement.
 
     Special Note
     This press release is intended as a forward-looking statement within the
 meaning of the Private Securities Litigation Reform Act of 1995.  The risks
 and uncertainties that may affect the operations, performance, development and
 results of the Company's business include but are not limited to (I)
 technology changes in the television business, (ii) the success of the
 Company's expansion and marketing strategies, (iii) competition within the
 industry, (iv) the ability of the company to raise capital, and (v) the
 ability of the Company to motivate and retain the services of its key
 personnel to meet evolving staff requirements.
 
     About Cubico
     Cubico is an online, new digital media company focused on the Latino youth
 market in the U.S., ages 17 - 29, providing users with a network of higher
 educational resources, entertaining branded content and community services.
 Through its strategic alliance with the Hispanic Television Network (HTVN),
 CUBICO and HTVN will create and deliver rich multimedia content on cubico.com.
 
     To automatically receive HTVN news, add your email to the HTVN Reporter
 Press Room at www.htvn.net.
 
 

SOURCE Hispanic Television Network
    FORT WORTH, Texas, April 27 /PRNewswire/ --
 Hispanic Television Network (Nasdaq: HTVN) is issuing this press release to
 clarify and correct certain statements in its previous press release issued on
 April 23, 2001 regarding a certain transaction with Cubico (the "Previous
 Release").  The Previous Release indicated that the company had agreed to
 acquire the 52% interest in Cubico.com not already owned by it.  The first
 clarification and correction to the Previous Release is that the company has
 not yet reached a non-binding letter of intent nor a definitive agreement with
 regard to an acquisition that would result in Cubico's becoming a wholly-owned
 subsidiary of the company, although the company continues serious discussions
 to enter into such a transaction.  The second clarification and correction to
 the Previous Release is that the company has not yet consummated the
 acquisition of a 48% interest in Cubico, although it had previously entered
 into a definitive agreement to do so.  The closing date provided for in this
 definitive agreement has lapsed, and each of the company and Cubico have the
 right to terminate this agreement.  The company does not now try to consummate
 the acquisition of a 48% interest in Cubico pursuant to this agreement, but
 instead to continue discussions to acquire all of Cubico.  The possible terms
 of such an acquisition remain undisclosed.
     Cubico is a leading online community site among the 17-29 age demographic.
 Cubico offers cutting edge services that features articles, video clips and
 opinion pieces on today's hottest celebrities, musical artists, and public
 figures.  The editorial content focuses on education and community
 involvement.
 
     Special Note
     This press release is intended as a forward-looking statement within the
 meaning of the Private Securities Litigation Reform Act of 1995.  The risks
 and uncertainties that may affect the operations, performance, development and
 results of the Company's business include but are not limited to (I)
 technology changes in the television business, (ii) the success of the
 Company's expansion and marketing strategies, (iii) competition within the
 industry, (iv) the ability of the company to raise capital, and (v) the
 ability of the Company to motivate and retain the services of its key
 personnel to meet evolving staff requirements.
 
     About Cubico
     Cubico is an online, new digital media company focused on the Latino youth
 market in the U.S., ages 17 - 29, providing users with a network of higher
 educational resources, entertaining branded content and community services.
 Through its strategic alliance with the Hispanic Television Network (HTVN),
 CUBICO and HTVN will create and deliver rich multimedia content on cubico.com.
 
     To automatically receive HTVN news, add your email to the HTVN Reporter
 Press Room at www.htvn.net.
 
 SOURCE  Hispanic Television Network