News Release

11 July 2011

AUSTAR ANNOUNCES DEFINITIVE TRANSACTIONFOXTEL TO ACQUIRE AUSTAR FOR $1.52 PER SHARE

AUSTAR United Communications Limited (AUSTAR) announced today that it has entered into definitive transaction agreements with Liberty Global, Inc. (LGI) and FOXTEL Management Pty Limited (FOXTEL) under which FOXTEL will acquire AUSTAR by a series of transactions including a scheme of arrangement (Scheme).

As previously announced on 26 May 2011, following the receipt of an indicative, non