UPC's Response to Moody's Rating Decision

Apr 20, 2001, 01:00 ET from United Pan-Europe Communications NV

    AMSTERDAM, Netherlands, April 20 /PRNewswire/ -- Mark Schneider, Chairman
 of the Board of Management and CEO of UPC (Nasdaq:   UPCOY):  "We are very
 disappointed, and fundamentally disagree with this analysis.  We recognise
 that the change in market conditions, particularly in this sector, has
 impacted current asset values.  However, we have met, and continue to meet all
 our financial targets; successfully executing on our business plan, with
 significant liquidity in place to fund our operations.  This rating does not
 impact our interest expense, nor does it effect the covenants of our existing
 credit facilities.
     "We continue to work on initiatives to further strengthen our balance
 sheet, and we firmly believe that the business is well on track."
 
 

SOURCE United Pan-Europe Communications NV
    AMSTERDAM, Netherlands, April 20 /PRNewswire/ -- Mark Schneider, Chairman
 of the Board of Management and CEO of UPC (Nasdaq:   UPCOY):  "We are very
 disappointed, and fundamentally disagree with this analysis.  We recognise
 that the change in market conditions, particularly in this sector, has
 impacted current asset values.  However, we have met, and continue to meet all
 our financial targets; successfully executing on our business plan, with
 significant liquidity in place to fund our operations.  This rating does not
 impact our interest expense, nor does it effect the covenants of our existing
 credit facilities.
     "We continue to work on initiatives to further strengthen our balance
 sheet, and we firmly believe that the business is well on track."
 
 SOURCE  United Pan-Europe Communications NV