Cisneros Group Announces Enrique Garcia Named Chairman of Movida

Cisneros Group Announces Enrique Garcia Named Chairman of Movida

Will Lead New U.S.-Hispanic Wireless Service Provider


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Miami, FL–(HISPANIC PR WIRE – BUSINESS WIRE)–March 1, 2005–The Cisneros Group of Companies today announced the appointment of Enrique J. Garcia, a veteran Latin American telecommunications executive, as the first Chairman of the Board of its Movida Communications, Inc. unit, the nation’s first Mobile Virtual Network Operator (MVNO) to offer pay-as-you-go wireless communications services specifically targeting the more than 40 million Hispanics living in the United States.

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 third generation nationwide wireless network, with rate plans that cater to the needs of the U.S. Hispanic market. Through its arrangement with Wal-Mart, Movida plans to sell Movida-branded handsets and cards in Wal-Mart stores in select markets starting next month.

Mr. Garcia was previously President and Chief Executive Officer of TELCEL, C.A., a joint venture with BellSouth International serving Venezuela, one of Latin America’s most advanced mobile markets. During his tenure as Chief Executive, TELCEL grew to become Venezuela’s leading wireless telecommunications provider and BellSouth’s largest and fastest-growing operation. Also, TELCEL became the largest Internet service provider in Venezuela and a leading provider of fixed telephony in the country. Prior to joining TELCEL in 1992, Mr. Garcia served with Cellular One of Puerto Rico and with UNISYS in the United States, Puerto Rico, Canada and Spain.

Commenting on Mr. Garcia’s appointment, Steven Bandel, President and Chief Operating officer of the Cisneros Group, said: “We are privileged to have a telecommunications executive with Enrique’s knowledge, industry stature and Hispanic market experience join Movida at a time when demand for telecommunications services is booming from this fast-growing segment of the U.S. population. The Cisneros Group has been a leader in serving the U.S. Hispanic population through the creation of Univision, the leading U.S.-Hispanic television service. We are excited about the opportunity to serve this market’s growing need for pre-paid mobile telephone services.”

About Movida

Movida Communications, Inc. is a newly formed wireless service provider offering pay-as-you-go wireless voice and data communications services targeted specifically to the U.S. Hispanic population, using Sprint’s all-digital, all-PCS nationwide wireless network. As the nation’s first MVNO 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 is one of the largest privately held media, entertainment, technology, and consumer products organizations in the world. The Group owns or holds interests in companies ranging from broadcast television networks, pay television services and Internet service providers, 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; Claxson Interactive Group Inc. (XSON), an integrated Ibero-American media and entertainment company; AOL Latin America Inc. (NASDAQ:AOLA), one of the leading Internet and interactive service providers in Latin America; 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; Backus & Johnston, the largest brewer in Peru and the sixth-largest in Latin America; and Pueblo, one of the leading supermarket chains in Puerto Rico and the U.S. Virgin Islands. For more information, visit http://www.cisneros.com.

–30–CP/mi*

CONTACT:

The Cisneros Group of Companies, New York

Antonieta Lopez

212-355-0620

or

Caracas: 58 (212) 708-9046

Cisneros Group Announces Enrique Garcia Named Chairman of Movida