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To: steve host who wrote (270)	2/12/1999 6:02:00 PM
From: debra vogt	Read Replies (1) \| Respond to of 489

Hi guys! Found the following article, thought you might be interested. I bought UIHIA last March at 17 and watched it drop to 7. I believed this company had a lot of unrealized value and hung on, it is nice to now be rewarded. You need to just decide if you are a trader of this stock or an investor. I have chosen to be an investor. However, the comparisons of UIHIA to DBCC are ludicrous, and yes, I did own DBCC before the ipo of MKTW. INTERVIEW-United Pan Europe to grow Web business February 12, 1999 04:00 PM By Nadja Rogoszynski NEW YORK, Feb 12 (Reuters) - Dutch multimedia company United Pan Europe Communications NV UPCOY said Friday it expects its Internet business to constitute at least a third of its revenues over the next few years. "The Internet is an important part for our company, but not the most important...but over the years it will maybe be one third or better of our business," Mark Schneider, chief executive officer, told Reuters in an interview. Shares of the owner and operator of cable-based communications networks in Europe soared more than 30 percent during their first day of trading. The company, 63 percent owned by United International Holdings Inc. UIHIA post offering, had priced 40 million shares at $32.78 per ADR before the market opening. Goldman Sachs was the lead underwriter. Schneider said the money will be used to expand the company's Internet and programming unit. United Pan Europe, among other services, provides streamline video footage on the Internet and hopes to offer digital television and telephony services via one platform in the near future. "Effectively, television and the Internet will blend together," Schneider said. In a recent agreement, Microsoft invested $325 million in United Pan Europe and will provide integration software for the company's Internet services. The raised money will also be used to upgrade some of the cable technology needed to provide such high-tech services to all users. "We need to provide the consumer premise equipment for computers at home or the office, such as the two way broadband modem," Schneider said. The service upgrade will include countries like Norway, Holland and Austria among others. In a highly competitive market, sharing the ground with telephone and satellite companies, United Pan Europe also plans on strengthening its position through acquisitions. "There are a lot of opportunities in Europe over the next couple of years," he said. "Phone companies will be forced out of the cable business by regulation...that puts lots of subscribers on the market." United Pan-Europe began operations as a 50/50 joint venture between United International and Philips in July 1995, when both companies contributed most of their European and Israeli multi-channel television system assets to the new company. ((--Wall Street Desk (212) 859 1730)) REUTERS

To: steve host who wrote (270)	2/14/1999 12:11:00 AM
From: puborectalis	Respond to of 489

UIH Valued Less Than Subsidiary UPC After Initial Offering Bloomberg News February 13, 1999, 1:23 a.m. PT UIH Valued Less Than Subsidiary UPC After Initial Offering New York, Feb. 13 (Bloomberg) -- United International Holdings Inc.'s market value fell below that of its subsidiary, United Pan-Europe Communications NV after an initial public offering, and investors aren't pleased. United International, which owns 62 percent of UPC, the No. 1 Dutch cable-TV company, ended trading Friday with a market capitalization of $1.97 billion while UPC's was $4.8 billion. The value comparison was made possible after the Denver- based United International sold 38 percent of UPC in an IPO. The sale lured demand for 20 times what was offered, yet United International shares fell 11 percent to 48 5/8. At the same time, UPC rose 26 percent to 41 on its first day of trade. ''It's extremely strange to me that with the offering being so successful that United International would go down,'' said Cliff Greenberg, a principal in Baron Capital Management Inc., which owns about 6 percent of United International's common stock. Baron bought more shares Friday. ''Maybe someone is doing some incorrect math,'' he said. At UPC's closing price, United International's stake in UPC is worth $3.16 billion through the 77.1 million shares it continues to own in the company. That's still more than its own market value. Doesn't Make Sense United International executives said they had no reason why the stock would fall, and declined to comment further. At UPC, the reaction was the same. ''It doesn't make sense to me,'' said Mark Schneider, UPC chief executive. ''I don't see how that (United International's share price) can be as low as that.'' Speculation during Friday trading was that United International's shares fell as investors sold shares to invest in UPC, ananysts said. The reasoning was that UPC is a better investment as a pure cable company with opportunities in Europe. That still doesn't explain why investors overlooked the valuation gap between UPC and its parent. ''If UPC is up, how is it mathematically that United International isn't up,'' said Ted Henderson, a Janco Partners managing director of research who has a ''buy'' rating for United International. ''It makes for an interesting look at United International if UPC's price continues to hold up there,'' he said. --Greg Wiles in the San Francisco (415) 743-3518 and Adri den Technology industries CAD/CAM \| Communications Svcs \| Computer Svcs \| Distributors \| Internet \| Networking \| PC Hardware \| PC Software \| Peripherals \| Semiconductors \| Semi Cap Equip \| Server Hardware \| Server Software \| Storage \| Telecom Wireless \| Telecom Wireline Other industries Quote lookup by symbol by name Sponsored trading link: