Crown Media Holdings, Inc. Postpones Initial Public Offering Due to Market
Conditions
 
 
    Business Editors
 
    ENGLEWOOD, Colo.--(BUSINESS WIRE)--April 14, 2000--Crown Media
Holdings, Inc. today announced that it is postponing its planned
initial public offering of 12,500,000 shares of Class A common stock
due to market conditions.
    Crown Media Holdings President and CEO, David Evans commented,
"Given the extreme volatility in the U.S. markets this week, we have
decided that it is in our best interest to delay our initial public
offering at this time. We will continue to evaluate the market in the
hopes of proceeding with the offering at a future date."
    The decision to postpone the offering was made in conjunction with
the managing underwriters: Donaldson, Lufkin & Jenrette Securities
Corporation, Lehman Brothers Inc., Salomon Smith Barney Inc.,
DLJdirect, Inc. and MeesPierson N.V.
    Crown Media Holdings, Inc. owns and operates pay television
channels dedicated to high quality family programming. The Company
currently operates and distributes three cable channels: Hallmark
Entertainment Networks in over 70 international markets, the Odyssey
Network in the United States and the Kermit Channel in Asia. Crown
Media has more than 50 million subscribers worldwide.
    A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
 
    --30--jc/ny*
 
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