DENVER, July 19 /PRNewswire/ -- UnitedGlobalCom (''United'') (Nasdaq: UCOMA - news) announced today the pricing of
the initial public offering of its Australian subsidiary, Austar United Communications Limited (''Austar United'' or the
''Company'') (Australian Stock Exchange: AUN).

A total of 90 million new ordinary shares representing approximately 19% of the Company were offered for sale at a price of
A$4.70 (US$3.11) for total gross proceeds of A$423 million (US$280 million). The underwriters have been granted an over
allotment option of an additional 13.5 million shares. At listing, Austar United will have an equity market capitalization of
approximately A$2.2 billion (US$1.5 billion), excluding the over allotment option.

Immediately following completion of the offering, United will own approximately 361.3 million shares, representing
approximately 76% of Austar United's ordinary shares on a fully diluted basis. SaskTel International and management of Austar
United will own approximately 5%. The closing is set for July 27, 1999.

Austar United's shares will begin trading on July 20, 1999 on the Australian Stock Exchange. Credit Suisse First Boston and
Morgan Stanley Dean Witter were the Joint Global Coordinators of the offering.

In conjunction with the initial public offering, United also announced the successful completion of its consent solicitation regarding
certain amendments to the indentures governing the UIH Australia/Pacific 14% Senior Discount Notes due 2006.

Austar United is a leading broadband communications provider in Australia and New Zealand. Through its wholly owned
subsidiary Austar Entertainment, the company is the second largest pay TV operator in Australia reaching over 1/3 of the market
with its digital satellite network and serving over 330,000 subscribers today. Austar United is also a significant owner/distributor
of pay TV channels through its 50% owned programming venture XYZ Entertainment. Additionally, through its wholly-owned
subsidiary Saturn Communications, the Company is the first and only integrated provider of video, voice and Internet/data
services in New Zealand.

United is a leading provider of video, voice, data and programming services outside of the United States, with operations in over
20 countries throughout the world. Including announced transactions, United's operating systems reach approximately 12.8
million homes passed and serve approximately 6.4 million video subscribers, over 175,000 telephony access lines and over
50,000 Internet access customers. Additionally, United's programming services reach over 6.4 million subscribers worldwide.

''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding
UnitedGlobalCom's business which are not historical facts, including proposed consent period dates and Austar United's planned
initial public offering, are ''forward-looking statements'' that involve risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see
''Management's Discussion and Analysis of Financial Condition and Results of Operations'' in United's and UIH
Australia/Pacific's Annual Report on Form 10-K for the most recently ended fiscal year. 

SOURCE: UnitedGlobalCom