[March 20, 2006]

Movida, Leader in U.S.-Hispanic Wireless Communications, Hires Leading U.S.-Hispanic Advertising Firm

MIAMI --(Business Wire)-- March 20, 2006 -- The Cisneros Group of Companies today announced that Movida, the nation's first pay-as-you-go wireless communications service specifically targeting the more than 40 million Hispanics living in the United States, has appointed Segarra, Cuesta, Puig y Fernandez de Costa S.L. (SCPF) in Miami as its advertising agency of record.

SCPF, which was founded in Spain, is the first advertising agency of Spanish origin to open an office in the U.S.

Movida Chairman and Chief Executive Officer Enrique Garcia, said that: "We are doubly pleased to be working with SCPF. On one hand, SCPF is generally recognized as one of the most creative advertising agencies in the world. On the other, SCPF focuses primarily on advertising for the U.S.-Hispanic market, the same market Movida is dedicated to serving with the best mobile communications services available today."

Movida - majority-owned by Cisneros -- has teamed with Sprint (NYSE:FON) and Wal-Mart (NYSE:WMT) to begin providing wireless voice and data communications using the Sprint nationwide wireless network, with rate plans that cater to the needs of the U.S. Hispanic market. Through its arrangement with Wal-Mart and other regional sales outlets, Movida is rolling out Movida's state of the art wireless phones in select U.S. markets across the nation. Movida now provides service to the U.S.-Hispanic population in 45 states.

About Movida

Movida Communications, Inc. is a wireless service provider offering pay-as-you-go wireless voice and data communications services exclusively to the U.S. Hispanic population, using Sprint's all-digital, all-PCS nationwide wireless network. As the nation's first MVNO (Mobile Virtual Network Operator) targeted at Hispanics, Movida offers all standard custom calling features plus a suite of international voice and data services featuring culturally and geographically-focused content in Spanish.

About the Cisneros Group of Companies

The Cisneros Group of Companies (www.cisneros.com) is one of the largest privately held media, entertainment, telecommunications, technology, and consumer products organizations in the world. The Group owns, or holds interests in companies ranging from broadcast television networks and pay television services, to beverage businesses and supermarkets. Through its diverse businesses, the Cisneros Group of Companies delivers some of the top brands and the highest quality services to the 550 million Spanish- and Portuguese-speaking consumers in the Americas and Europe. The Group has recently expanded its activities from Ibero-America to countries worldwide.

The Cisneros Group's holdings include majority and minority interests and may be held, directly or indirectly, through partnerships, joint ventures or alliances. Some of the Group's holdings include interests in: Venevision, the leading broadcast television channel in Venezuela; Venevision International, a Spanish-language entertainment company with specialization in TV programming; Univision Communications Inc. (NYSE: UVN), the number one provider of Spanish-language content to the U.S. Hispanic audience; Movida Communications Group Inc., the first pay-as-you-go wireless communications service specifically targeting Hispanics living in the U.S., Claxson Interactive Group Inc. (XSON), an integrated Ibero-American media and entertainment company; DIRECTV Latin America, a direct-to-home satellite TV provider with operations across the region; Cerveceria Regional, the second-largest brewery and beer distributor in Venezuela; and Pueblo, one of the leading supermarket chains in Puerto Rico and the U.S. Virgin Islands. For more information, visit www.cisneros.com.

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