TERM SHEET February 22, 2001 RevisionsTerm Sheet • March 2nd, 2001 • Unitedglobalcom Inc • Cable & other pay television services
Objectives: To modify the existing structure described in the agreement, dated June 25, 2000, as amended, (the "June 25 Agreement") to eliminate the provisions for the transfer of Liberty's or LMI's indirect interest in Telewest (including any right of first offer with respect thereto, and any Additional Interests), to provide in lieu thereof for the acquisition by Liberty of convertible preferred stock of United for cash and to provide for the transfer of the Latin American assets to be closed separately and structured to be taxable or non-taxable depending upon whether Liberty would recognize gain on the transaction. The new structure described herein shall supersede in its entirety the structure contemplated by the June 25 Agreement.
RELEASERelease • March 2nd, 2001 • Unitedglobalcom Inc • Cable & other pay television services • Colorado
