UIH COMPLETES IPO OF EUROPEAN SUBSIDIARY DENVER, Feb. 11 /PRNewswire-AsiaNet/ -- United International Holdings, Inc.("UIH") (Nasdaq: UIHIA) announced today the pricing of the initial publicoffering of its European subsidiary, United Pan-Europe Communications N.V.("UPC") (Nasdaq: UPCOY; Amsterdam: UPC). The initial public offering price was set at 29 euros per share ($32.78based on February 11, exchange rates). 40 million ordinary shares wereoffered for sale including the approximately 10.2 million shares acquired byMicrosoft Corporation (Nasdaq: MSFT) for total gross proceeds of 1.2 billioneuros ($1.3 billion), excluding the over allotment option granted to theunderwriters. The Closing is set for February 17, 1999. Following completion of the offering, UIH owns approximately 77.1 millionshares, representing approximately 62% of UPC ordinary shares. UPC's shareswill be trading February 12, 1999 on both Nasdaq under the symbol "UPCOY" andthe Amsterdam Stock Exchange under the symbol "UPC". Goldman SachsInternational and Morgan Stanley Dean Witter are the Joint Global Coordinatorsfor the offering. Headquartered in Amsterdam, UPC is one of the largest privately-ownedbroadband communications companies in Europe, providing cable television,telephony, Internet and programming services. As of September 30, 1998, UPC'ssystems had about 6.0 million homes in their franchise areas, withapproximately 5.0 million homes passed. Approximately 3.5 million of thesesubscribed to UPC's basic cable television systems. UPC's systems had about14,000 cable telephone and about 13,000 internet access subscribers. UIH is a leading provider of video, voice, data and programming servicesoutside of the United States, with operations in 20 countries throughout theworld. UIH's operating systems cover approximately 12.1 million homes infranchise area and 9.7 million homes passed, and currently serve 4.4 millionvideo subscribers, over 100,000 telephony access lines and over 13,000internet access subscribers. SOURCE United International Holdings, Inc. CONTACT: Mike Fries, President, 303-220-6610, [email protected], or Stanley Di Cicco, Vice President Finance, 303-220-6682, [email protected], both of United International Holdings; or Tony Herrling, Managing Director of Burson Marsteller, 212-614-5216, [email protected], for United International Holdings Web site: http://www.uih.com