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<SEC-DOCUMENT>0000950123-07-010093.txt : 20070720
<SEC-HEADER>0000950123-07-010093.hdr.sgml : 20070720
<ACCEPTANCE-DATETIME>20070720171245
ACCESSION NUMBER:		0000950123-07-010093
CONFORMED SUBMISSION TYPE:	F-4/A
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20070720
DATE AS OF CHANGE:		20070720

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRUPO TELEVISA, S.A.B.
		CENTRAL INDEX KEY:			0000912892
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEVISION BROADCASTING STATIONS [4833]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-4/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-144460
		FILM NUMBER:		07992094

	BUSINESS ADDRESS:	
		STREET 1:		AV VASCO DE QUIROGA 2000
		STREET 2:		COLONIA SANTA FE
		CITY:			MEXICO, D.F.
		STATE:			O5
		ZIP:			01210
		BUSINESS PHONE:		(5255) 52612000

	MAIL ADDRESS:	
		STREET 1:		AV VASCO DE QUIROGA 2000
		STREET 2:		COLONIA SANTA FE
		CITY:			MEXICO, D.F.
		STATE:			O5
		ZIP:			01210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRUPO TELEVISA S A
		DATE OF NAME CHANGE:	19931202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRUPO TELEVISA S A DE CV
		DATE OF NAME CHANGE:	19931001
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-4/A
<SEQUENCE>1
<FILENAME>y36897a1fv4za.htm
<DESCRIPTION>AMENDMENT NO.1 TO FORM F-4
<TEXT>
<HTML>
<HEAD>
<TITLE>F-4/A</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">As filed
    with the Securities and Exchange Commission on July&#160;20,
    2007.</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B> Registration
    <FONT style="white-space: nowrap">No.:&#160;333-144460</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER><!-- callerid=128 iwidth=540 length=0 --></B>
</DIV>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=540 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">SECURITIES AND EXCHANGE
    COMMISSION</FONT></B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">Washington,&#160;D.C.
    20549</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 16pt">Amendment No.&#160;1</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 16pt"> to</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 18pt">
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">REGISTRATION
    STATEMENT</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">UNDER</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">THE SECURITIES ACT OF
    1933</FONT></B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 20pt">GRUPO TELEVISA,
    S.A.B.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Exact name of Registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>N/A<BR>
    </B><I><FONT style="font-size: 8pt">(Translation of
    Registrant&#146;s name into English)</FONT></I>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><FONT style="font-size: 10pt">United Mexican States</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B><FONT style="font-size: 10pt">4833</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B><FONT style="font-size: 10pt">None</FONT></B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <I><FONT style="font-size: 8pt">(State or other jurisdiction<BR>
    of incorporation or organization)</FONT></I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(Primary Standard Industrial <BR>
    Classification Code Number)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(IRS Employer <BR>
    Identification No.) </FONT></I>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=540 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Av. Vasco
    de Quiroga No.&#160;2000<BR>
    Colonia Santa Fe<BR>
    01210 M&#233;xico, D.F. M&#233;xico<BR>
    (52)
    <FONT style="white-space: nowrap">(55)&#160;5261-2000</FONT><BR>
    </FONT></B><I><FONT style="font-size: 8pt"><FONT style="font-family: 'Times New Roman', Times">(Address
    and telephone number of registrant&#146;s principal executive
    offices)</FONT></FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=540 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Donald J.
    Puglisi<BR>
    Puglisi and Associates<BR>
    850 Library Avenue, Suite&#160;204<BR>
    Newark, Delaware 19711<BR>
    <FONT style="white-space: nowrap">(302)&#160;738-6680</FONT><BR>
    </FONT></B><I><FONT style="font-size: 8pt"><FONT style="font-family: 'Times New Roman', Times">(Name,
    address and telephone number of agent for
    service)</FONT></FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=540 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Copies to:</I></B>
</DIV>



<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="49%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><FONT style="font-size: 10pt">Kenneth Rosh,&#160;Esq.<BR>
    Fried, Frank, Harris, Shriver&#160;&#038; Jacobson LLP <BR>
    One New York Plaza <BR>
    New York, New York
    <FONT style="white-space: nowrap">10004-1980</FONT>
    <BR>
    <FONT style="white-space: nowrap">(212)&#160;859-8000</FONT></FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B><FONT style="font-size: 10pt">Joaqu&#237;n Balc&#225;rcel
    Santa Cruz <BR>
    Grupo Televisa, S.A.B <BR>
    Avenida Vasco de Quiroga, No. 2000 <BR>
    Colonia Santa Fe <BR>
    01210 M&#233;xico, D.F., M&#233;xico<BR>
    (52) (55) 5261-2000</FONT></B><FONT style="font-size: 10pt">
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=540 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Approximate date of commencement of proposed exchange
    offer:</B>&#160;&#160;As soon as practicable after this
    Registration Statement becomes effective.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this Form is filed to register additional securities for an
    offering pursuant to Rule&#160;462(b) under the Securities Act,
    check the following box and list the Securities Act registration
    statement number of the earlier effective registration statement
    for the same offering.&#160;&#160;<FONT face="Wingdings">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this Form is a post-effective amendment filed pursuant to
    Rule&#160;462(d) under the Securities Act, check the following
    box and list the Securities Act registration statement number of
    the earlier effective registration statement for the same
    offering.&#160;&#160;<FONT face="Wingdings">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CALCULATION
    OF REGISTRATION FEE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterright -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterright -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutterright -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Proposed Maximum<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Proposed Maximum<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Amount of<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Title of Each Class of<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Amount<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Offering <BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Registration<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Securities to be Registered</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>to be Registered</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Price per Unit(1)</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Offering Price(1)</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fee(1)(2)</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top" style="border-top: 1px solid #000000">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><FONT style="font-size: 10pt">8.49%&#160;Senior Exchange
    Notes due 2037</FONT></B>
</DIV>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">Ps.4,500,000,000</FONT></B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">100%</FONT></B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">Ps.4,500,000,000</FONT></B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">$12,833</FONT></B><FONT style="font-size: 10pt">
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">The notes being registered are
    being offered (i)&#160;in exchange for 8.49%&#160;Senior Notes
    due 2037 previously sold in transactions exempt from
    registration under the Securities Act of 1933 and (ii)&#160;upon
    certain resales of the notes by broker-dealers. The registration
    fee, which was previously wired to the Securities and Exchange
    Commission, was computed based on the face value of the
    8.49%&#160;Senior Notes due 2037 solely for the purpose of
    calculating the registration fee pursuant to Rule&#160;457 under
    the Securities Act of 1933.
    </FONT></TD>
</TR>

</TABLE>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Previously paid.
    </FONT></TD>
</TR>

</TABLE>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The Registrant hereby amends this Registration Statement on
    such date or dates as may be necessary to delay the effective
    date until the Registrant shall file a further amendment which
    specifically states that this Registration Statement shall
    thereafter become effective in accordance with Section&#160;8(a)
    of the Securities Act of 1933 or until this Registration
    Statement shall become effective on such date as the Commission,
    acting pursuant to said Section&#160;8(a), may determine.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=540 length=0 -->

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER><!-- callerid=999 iwidth=540 length=0 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXPLANATORY
    NOTE</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Grupo Televisa, S.A.B. has prepared this Amendment No.&#160;1 to
    the Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    (File
    <FONT style="white-space: nowrap">No.&#160;333-144460)</FONT>
    for the purpose of filing certain exhibits to the Registration
    Statement. Amendment No.&#160;1 does not modify any provisions
    of the Prospectus constituting Part&#160;I of the Registration
    Statement. Accordingly, such Prospectus has not been included
    herein. Terms not otherwise defined herein shall have the
    meaning ascribed to them in the Registration Statement.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PART&#160;II<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INFORMATION
    NOT REQUIRED IN THE PROSPECTUS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;20.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Indemnification
    of Directors and Officers</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Under Mexican law, when an officer or director of a corporation
    acts within the scope of his authority, the corporation will
    answer for any resulting liabilities or expenses. In addition,
    the Board of Directors of the Registrant has expressly resolved
    that the Registrant will indemnify and hold harmless each
    director or officer of the Registrant against liabilities
    incurred in connection with the distribution of the securities
    registered under this Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4,</FONT>
    as amended. The Registrant has also entered into indemnification
    agreements with certain of its officers and directors. Such
    indemnification agreements provide for the Registrant to
    indemnify and advance expenses to any officer
    <FONT style="white-space: nowrap">and/or</FONT>
    director a party thereto to the fullest extent permitted by
    applicable law.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;21.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Exhibits
    and Financial Statement Schedules</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;INDEX</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="82%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Number</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Description</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Page</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">English translation of Amended and
    Restated Bylaws (<I>Estatutos Sociales</I>) of the Registrant,
    dated as of December&#160;21, 2006 (previously filed with the
    Securities Exchange Commission as Exhibit&#160;1.1 to the
    Registrant&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2006 (the &#147;2006
    <FONT style="white-space: nowrap">Form&#160;20-F&#148;),</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Indenture relating to Senior Debt
    Securities, dated as of August&#160;8, 2000, between the
    Registrant, as Issuer, and The Bank of New York, as Trustee, as
    amended or supplemented from time to time (previously filed with
    the Securities and Exchange Commission as Exhibit&#160;4.1 to
    the Registrant&#146;s Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    (File number
    <FONT style="white-space: nowrap">333-12738),</FONT>
    as amended (the &#147;2000
    <FONT style="white-space: nowrap">Form&#160;F-4&#148;),</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">First Supplemental Indenture
    relating to the
    8<FONT style="vertical-align: top; font-size: 70&#37;">5</FONT>/<FONT style="font-size: 70&#37;">8</FONT>%&#160;Senior
    Notes due 2005, dated as of August&#160;8, 2000, between the
    Registrant, as Issuer, and The Bank of New York and Banque
    Internationale &#224; Luxembourg, S.A. (previously filed with
    the Securities and Exchange Commission as Exhibit&#160;4.2 to
    the 2000
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Second Supplemental Indenture
    relating to the
    8<FONT style="vertical-align: top; font-size: 70&#37;">5</FONT>/<FONT style="font-size: 70&#37;">8</FONT>%&#160;Senior
    Exchange Notes due 2005, dated as of January&#160;19, 2001,
    between the Registrant, as Issuer, and The Bank of New York and
    Banque Internationale &#224; Luxembourg, S.A. (previously filed
    with the Securities and Exchange Commission as Exhibit&#160;4.3
    to the 2000
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Third Supplemental Indenture
    relating to the 8%&#160;Senior Notes due 2011, dated as of
    September&#160;13, 2001, between the Registrant, as Issuer, and
    The Bank of New York and Banque Internationale &#224;
    Luxembourg, S.A. (previously filed with the Securities and
    Exchange Commission as Exhibit&#160;4.4 to the Registrant&#146;s
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    (File number
    <FONT style="white-space: nowrap">333-14200)</FONT>
    (the &#147;2001
    <FONT style="white-space: nowrap">Form&#160;F-4&#148;)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .5
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Fourth Supplemental Indenture
    relating to the 8.5%&#160;Senior Notes due 2032 between the
    Registrant, as Issuer, and The Bank of New York and Dexia Banque
    Internationale &#224; Luxembourg (previously filed with the
    Securities and Exchange Commission as Exhibit&#160;4.5 to the
    Registrant&#146;s Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    (File number
    <FONT style="white-space: nowrap">333-90342)</FONT>
    (the &#147;2002
    <FONT style="white-space: nowrap">Form&#160;F-4&#148;)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .6
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Fifth Supplemental Indenture
    relating to the 8%&#160;Senior Exchange Notes due 2011 between
    the Registrant, as Issuer, and The Bank of New York and Dexia
    Banque Internationale &#224; Luxembourg, S.A (previously filed
    with the Securities and Exchange Commission as Exhibit&#160;4.6
    to the 2002
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .7
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Sixth Supplemental Indenture
    relating to the 8.5%&#160;Senior Exchange Notes due 2032 between
    the Registrant, as Issuer, and The Bank of New York and Dexia
    Banque Internationale &#224; Luxembourg (previously filed with
    the Securities and Exchange Commission as Exhibit&#160;4.7 to
    the 2002
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-1
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="82%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Number</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Description</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Page</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .8
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Seventh Supplemental Indenture
    relating to the
    6<FONT style="vertical-align: top; font-size: 70&#37;">5</FONT>/<FONT style="font-size: 70&#37;">8</FONT>%&#160;Senior
    Notes due 2025 between Registrant, as Issuer, and The Bank of
    New York and Dexia Banque Internationale &#224; Luxembourg,
    dated March&#160;18, 2005 (previously filed with the Securities
    and Exchange Commission as Exhibit&#160;2.8 to the
    Registrant&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2004 (the &#147;2004
    <FONT style="white-space: nowrap">Form&#160;20-F&#148;)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .9
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Eighth Supplemental Indenture
    relating to the
    6<FONT style="vertical-align: top; font-size: 70&#37;">5</FONT>/<FONT style="font-size: 70&#37;">8</FONT>%&#160;Senior
    Notes due 2025 between Registrant, as Issuer, and The Bank of
    New York and Dexia Banque Internationale &#224; Luxembourg,
    dated May&#160;26, 2005 (previously filed with the Securities
    and Exchange Commission as Exhibit&#160;2.9 to the 2004
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .10
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Ninth Supplemental Indenture
    relating to the
    6<FONT style="vertical-align: top; font-size: 70&#37;">5</FONT>/<FONT style="font-size: 70&#37;">8</FONT>%&#160;Senior
    Notes due 2025 between Registrant, as Issuer, The Bank of New
    York and Dexia Banque Internationale &#224; Luxembourg, dated
    September&#160;6, 2005 (previously filed with the Securities and
    Exchange Commission as Exhibit&#160;2.8 to the Registrant&#146;s
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2005 (the &#147;2005
    <FONT style="white-space: nowrap">Form&#160;20-F&#148;)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .11
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Tenth Supplemental Indenture
    related to the 8.49%&#160;Senior Notes due 2037 between
    Registrant, as Issuer, The Bank of New York and The Bank of New
    York (Luxembourg) S.A., dated as of May&#160;9, 2007 (previously
    filed with the Securities Exchange Commission as Exhibit 2.9 to
    the 2006 Form 20-F, and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .12
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Eleventh Supplemental
    Indenture relating to the 8.49%&#160;Senior Exchange Notes due
    2037 between Registrant, as Issuer, The Bank of New York and The
    Bank of New York (Luxembourg) S.A., dated
    as&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .13
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of 8.49%&#160;Senior Exchange
    Note (included in Exhibit&#160;4.12).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .14
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Deposit Agreement between
    the Registrant, JPMorgan Chase Bank, as depositary and all
    holders and beneficial owners of the Global Depositary Shares,
    evidenced by Global Depositary Receipts (previously filed with
    the Securities and Exchange Commission as an Exhibit to the
    Registrant&#146;s Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-6</FONT>
    (File number
    <FONT style="white-space: nowrap">333-99195)</FONT>
    (the
    <FONT style="white-space: nowrap">&#147;Form&#160;F-6&#148;)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .15
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Registration Rights Agreement,
    dated as of May&#160;9, 2007, among the Registrant and Goldman,
    Sachs&#160;&#038; Co. and HSBC Securities (USA) Inc.*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Opinion of Fried, Frank, Harris,
    Shriver&#160;&#038; Jacobson LLP.*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Opinion of Mijares, Angoitia,
    Cort&#233;s y Fuentes, S.C.*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Indemnity Agreement
    between the Registrant and its directors and executive officers
    (previously filed with the Securities and Exchange Commission as
    Exhibit&#160;10.1 to the Registrant&#146;s Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    (File number
    <FONT style="white-space: nowrap">33-69636),</FONT>
    as amended, (the &#147;1993
    <FONT style="white-space: nowrap">Form&#160;F-4&#148;)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Agreement of General Partnership
    of Sky Multi-Country Partners, dated as of October&#160;24,
    1997, among DTH USA, Inc., SESLA, Inc., Televisa MCOP Holdings,
    Inc. and TCI Multicountry DTH, Inc (previously filed with the
    Securities and Exchange Commission as Exhibit&#160;10.3 to the
    <FONT style="white-space: nowrap">Form&#160;F-3</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Amended and Restated Collateral
    Trust&#160;Agreement, dated as of June&#160;13, 1997, as
    amended, among PanAmSat Corporation, Hughes Communications,
    Inc., Satellite Company, LLC, the Registrant and IBJ Schroder
    Bank and Trust&#160;Company (previously filed with the
    Securities and Exchange Commission as an Exhibit to the
    Registrant&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2001 (the &#147;2001
    <FONT style="white-space: nowrap">Form&#160;20-F&#148;)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Amended and Restated Program
    License Agreement, dated as of December&#160;19, 2001, by and
    between Productora de Teleprogramas, S.A. de C.V. and Univision
    Communications Inc. (&#147;Univision&#148;) (previously filed
    with the Securities and Exchange Commission as Exhibit&#160;10.7
    to the 2001
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    II-2
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="82%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Number</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Description</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Page</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .5
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Participation Agreement, dated as
    of October&#160;2, 1996, by and among Univision, Perenchio, the
    Registrant, Venevision and certain of their respective
    affiliates (previously filed with the Securities and Exchange
    Commission as Exhibit&#160;10.8 to Univision&#146;s Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;S-1</FONT>
    (File number
    <FONT style="white-space: nowrap">333-6309)</FONT>
    (the &#147;Univision
    <FONT style="white-space: nowrap">Form&#160;S-1&#148;)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .6
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Amended and Restated International
    Program Rights Agreement, dated as of December&#160;19, 2001, by
    and among Univision, Venevision and the Registrant (previously
    filed with the Securities and Exchange Commission as
    Exhibit&#160;10.9 to the 2001
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .7
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Co-Production Agreement, dated as
    of March&#160;27, 1998, between the Registrant and Univision
    Network Limited Partnership (previously filed with the
    Securities and Exchange Commission as an Exhibit to
    Univision&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 1997 and incorporated
    herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .8
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Program License Agreement, dated
    as of May&#160;31, 2005, between Registrant and Univision
    (previously filed with the Securities and Exchange Commission as
    Exhibit&#160;4.7 to the 2005
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">English summary of amendment to
    the May Credit Agreement and the amendment to the May 2004
    Credit Agreement (in Spanish) (previously filed with the
    Securities and Exchange Commission as Exhibit&#160;4.10 to the
    2004
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .9
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Amended and Restated Bylaws
    (<I>Estatutos Sociales</I>) of Innova, S. de R.L. de C.V. dated
    as of December&#160;22, 1998 (previously filed with the
    Securities and Exchange Commission as an Exhibit to the 1998
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .10
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Ps.1,162.5&#160;million credit
    agreement, dated as of May&#160;17, 2004, between the registrant
    and Banamex (previously filed with the Securities and Exchange
    Commission as Exhibit&#160;4.9 to the 2004
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .11
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">First Amendment to
    Ps.1,162.5&#160;million credit agreement, dated as of
    May&#160;17, 2004, between the registrant and Banamex
    (previously filed with the Securities and Exchange Commission as
    Exhibit&#160;4.10 to the 2004
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .12
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Ps. 2,000.0&#160;million credit
    agreement, dated as of October&#160;22, 2004, between the
    registrant and Banamex (previously filed with the Securities and
    Exchange Commission as Exhibit&#160;4.11 to the 2004
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .13
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">English translation of
    Ps.2,100.0&#160;million credit agreement, dated as of
    March&#160;10, 2006, by and among Innova, the Registrant and
    Banamex (previously filed with the Securities and Exchange
    Commission as Exhibit&#160;4.7 to the 2005
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .14
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">English summary of
    Ps.1,400.0&#160;million credit agreement, dated as of
    April&#160;7, 2006, by and among Innova, the Registrant and
    Banco Santander Serfin, S.A. (the &#147;April 2006 Credit
    Agreement&#148;) and the April Credit Agreement (in Spanish)
    (previously filed with the Securities and Exchange Commission as
    Exhibit&#160;4.7 to the 2005
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .15
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Administration
    Trust&#160;Agreement relating to Trust&#160;No.&#160;80375,
    dated as of March&#160;23, 2004, by and among Nacional
    Financiera, S.N.C., as trustee of Trust&#160;No.&#160;80370,
    Banco Inbursa, S.A., as trustee of Trust&#160;No.&#160;F/0553,
    Banco Nacional de M&#233;xico, S.A., as trustee of
    <FONT style="white-space: nowrap">Trust&#160;No.&#160;14520-1,</FONT>
    Nacional Financiera, S.N.C., as trustee of
    Trust&#160;No.&#160;80375, Emilio Azc&#225;rraga Jean, Promotora
    Inbursa, S.A. de C.V., Grupo Televisa, S.A.B. and Grupo
    Televicentro, S.A. de C.V. (as previously filed with the
    Securities and Exchange Commission as an Exhibit to Schedules
    13D or 13D/A in respect of various parties&#146; to the
    Trust&#160;Agreement (File number
    <FONT style="white-space: nowrap">005-60431)</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    12
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Computation of Ratio of Earnings
    to Fixed Charges.*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    13
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Press Release reporting the
    Registrant&#146;s first quarter financial results (previously
    submitted to the Securities and Exchange Commission on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    on June&#160;22, 2007 and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    II-3
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="82%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Number</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Description</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Page</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    21
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">List of Subsidiaries of Registrant
    (previously filed with the Securities and Exchange Commission as
    Exhibit&#160;8.1 to the 2006
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and incorporated herein by reference).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Consent of Fried, Frank, Harris,
    Shriver&#160;&#038; Jacobson LLP (included as part of its
    opinion filed as Exhibit&#160;5.1).*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Consent of Mijares, Angoitia,
    Cort&#233;s y Fuentes, S.C. (included as part of its opinion
    filed as Exhibit&#160;5.2).*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Consent of PricewaterhouseCoopers,
    independent public accountants.*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Consent of Ernst&#160;&#038; Young
    LLP, independent public accountants.*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    24
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Power of attorney (included in the
    signature page of this Registration Statement)
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    25
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Statement of Eligibility of
    Trustee on
    <FONT style="white-space: nowrap">Form&#160;T-1.*</FONT>
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    99
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Letter of Transmittal for
    8.49%&#160;Senior Exchange Notes due 2037.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    99
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Notice of Guaranteed
    Delivery for 8.49%&#160;Senior Notes due 2037.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    99
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Letter to Registered
    Holders and/or Participants of the Book-Entry Transfer Facility.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    99
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Letter to Brokers,
    Dealers, Commercial Banks, Trust&#160;Companies and Other
    Nominees.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    99
</TD>
<TD nowrap align="left" valign="top">
    .5
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Letter to Clients.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    99
</TD>
<TD nowrap align="left" valign="top">
    .6
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT style="font-size: 10pt">&#151;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Guidelines for Certification of
    Taxpayer Identification Number on Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    (included in Exhibit&#160;99.1).
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>



<DIV style="font-size: 9pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=60 -->

<DIV align="left"><FONT size="1">

</FONT></DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    *&#160;Previously filed.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    All financial statement schedules relating to the Registrant are
    omitted because they are not required or because the required
    information, if material, is contained in the audited year-end
    financial statements or notes thereto.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;22.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Undertakings</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned Registrant hereby undertakes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (1)&#160;that, insofar as indemnification for liabilities
    arising under the Securities Act of 1933&#160;may be permitted
    to directors, officers and controlling persons of the Registrant
    pursuant to the foregoing provisions, or otherwise, the
    Registrant has been advised that in the opinion of the
    Securities and Exchange Commission such indemnification is
    against public policy as expressed in the Securities Act of 1933
    and is, therefore, unenforceable. In the event that a claim for
    indemnification against such liabilities (other than the payment
    by the Registrant of expenses incurred or paid by a director,
    officer or controlling person of the Registrant in the
    successful defense of an action, suit or proceeding) is asserted
    by such director, officer or controlling person in connection
    with the securities being registered, the Registrant will,
    unless in the opinion of its counsel the matter has been settled
    by controlling precedent, submit to a court of appropriate
    jurisdiction the question whether such indemnification by it is
    against public policy as expressed in the Securities Act and
    will be governed by the final adjudication of such issue.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (2)&#160;that, for purposes of determining any liability under
    the Securities Act of 1933, each filing of the Registrant&#146;s
    annual report pursuant to section&#160;13(a) or 15(d) of the
    Securities Exchange Act of 1934 (and, where applicable, each
    filing of an employee benefit plan&#146;s annual report pursuant
    to section&#160;15(d) of the Securities Exchange Act of
    1934)&#160;that is incorporated by reference in the Registration
    Statement shall be deemed to be a new registration statement
    relating to the securities offered therein, and the offering of
    such securities at that time shall be deemed to be the initial
    <I>bona fide </I>offering thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (3)&#160;(i)&#160;to respond to requests for information that is
    incorporated by reference into the prospectus pursuant to
    Items&#160;4, 10(b), 11, or 13 of this form, within one business
    day of receipt of such request, and to send the incorporated
    documents by first class mail or other equally prompt means, and
    (ii)&#160;to arrange or provide for
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    II-4
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    a facility in the United States for the purpose of responding to
    such requests. The undertaking in subparagraph (i)&#160;above
    includes information contained in documents filed subsequent to
    the effective date of the Registration Statement through the
    date of responding to the request.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (4)&#160;to supply by means of a post-effective amendment all
    information concerning a transaction and the company being
    acquired involved therein, that was not the subject of and
    included in the registration statement when it became effective.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (5)&#160;to file, during any period in which offers or sales are
    being made, a post-effective amendment to this registration
    statement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (i)&#160;to include any prospectus required by
    Section&#160;10(a)(3) of the Securities Act 1933;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (ii)&#160;to reflect in the prospectus any facts or events
    arising after the effective date of the registration statement
    (or the most recent post-effective amendment thereof) which,
    individually or in the aggregate, represent a fundamental change
    in the information set forth in the registration statement.
    Notwithstanding the foregoing, any increase or decrease in
    volume of securities offered (if the total dollar value of
    securities offered would not exceed that which was registered)
    and any deviation from the low or high end of the estimated
    maximum offering range may be reflected in the form of
    prospectus filed with the Commission pursuant to
    Rule&#160;424(b) if, in the aggregate, the changes in volume and
    price represent no more than a 20&#160;percent change in the
    maximum aggregate offering price set forth in the
    &#147;Calculation of Registration Fee&#148; table in the
    effective registration statement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (iii)&#160;to include any material information with respect to
    the plan of distribution not previously disclosed in the
    registration statement or any material change to such
    information in the registration statement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (6)&#160;that, for the purpose of determining any liability
    under the Securities Act of 1933, each such post-effective
    amendment shall be deemed to be a new registration statement
    relating to the securities offered therein, and the offering of
    such securities at that time shall be deemed to be the initial
    bona fide offering thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (7)&#160;to remove from registration by means of a
    post-effective amendment any of the securities being registered
    which remain unsold at the termination of the offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (8)&#160;to file a post-effective amendment to the registration
    statement to include any financial statements required by
    Item&#160;8.A. of
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    at the start of any delayed offering or throughout a continuous
    offering. Financial statements and information otherwise
    required by Section&#160;10(a)(3) of the Act need not be
    furnished, provided, that the registrant includes in the
    prospectus, by means of a post-effective amendment, financial
    statements required pursuant to this paragraph (8)&#160;and
    other information necessary to ensure that all other information
    in the prospectus is at least as current as the date of those
    financial statements.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-5
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Pursuant to the requirements of the Securities Act of 1933, the
    Registrant has duly caused this Amendment No.&#160;1 to the
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    to be signed on its behalf by the undersigned, thereunto duly
    authorized, in Mexico City, Mexico on July&#160;20, 2007.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>GRUPO TELEVISA, S.A.B.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Salvi
    Rafael Folch Viadero</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=0 -->

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name:&#160;Salvi Rafael Folch Viadero
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Chief Financial Officer
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jorge
    Lutteroth Echegoyen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=0 -->

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name:&#160;Jorge Lutteroth Echegoyen
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Vice President and Controller
</TD>
</TR>

</TABLE>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>KNOW ALL MEN BY THESE PRESENTS</B>, that each person whose
    signature appears below constitutes and appoints, Salvi Rafael
    Folch Viadero and Jorge Lutteroth Echegoyen and each of them,
    his or her true and lawful attorneys-in-fact and agents, with
    full power of substitution and resubstitution for such person
    and in his or her name, place and stead, in any and all
    capacities, to sign any and all amendments (including
    post-effective amendments) to this Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4,</FONT>
    and to file the same with all exhibits thereto and other
    documents in connection therewith, with the Securities and
    Exchange Commission, granting unto said attorneys-in-fact and
    agents, and each of them, full power and authority to do and
    perform each and every act and thing requisite or necessary to
    be done in and about the premises, as fully and to all intents
    and purposes as he or she might or could do in person, hereby
    ratifying and confirming all that said attorneys-in-fact and
    agents, and any of them, or their substitutes, may lawfully do
    or cause to be done by virtue hereof.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    has been signed by the following persons in the capacities and
    on the date first above indicated:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="37%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="56%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;"><FONT style="font-size: 10pt">/s/&#160;&#160;Salvi
    Rafael Folch
    Viadero</FONT></DIV><FONT style="font-size: 10pt"><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=201 iwidth=184 length=0 -->Salvi
    Rafael Folch Viadero
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Chief Financial Officer
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;"><FONT style="font-size: 10pt">/s/&#160;&#160;Jorge
    Lutteroth
    Echegoyen</FONT></DIV><FONT style="font-size: 10pt"><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=201 iwidth=184 length=0 -->Jorge
    Lutteroth Echegoyen
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Vice President and Controller
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURE
    OF AUTHORIZED REPRESENTATIVE</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Pursuant to the requirements of the Securities Act of 1933, the
    undersigned, the duly authorized representative in the United
    States of Grupo Televisa, S.A.B., has signed this Amendment
    No.&#160;1 to the Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    in the City of Newark, State of Delaware on July&#160;20, 2007.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="37%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="56%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;"><FONT style="font-size: 10pt">/s/&#160;&#160;Donald
    J.
    Puglisi</FONT></DIV><FONT style="font-size: 10pt"><DIV style="font-size: 2pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=201 iwidth=184 length=0 -->Donald
    J. Puglisi
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Authorized Representative in the
    United States
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-6
</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.12
<SEQUENCE>2
<FILENAME>y36897a1exv4w12.htm
<DESCRIPTION>EX-4.12: FORM OF ELEVENTH SUPPLEMENTAL INDENTURE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-4.12</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;4.12</B>
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 6pt">
<B>Form of Eleventh Supplemental Indenture</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>GRUPO TELEVISA, S.A.B.,</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">as Issuer,

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THE BANK OF NEW YORK,</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">as Trustee, Registrar, Paying Agent

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">and Transfer Agent

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">and

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THE BANK OF NEW YORK (LUXEMBOURG)&nbsp;S.A.,</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">as Luxembourg Paying Agent, Transfer Agent

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">and Listing Agent

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ELEVENTH SUPPLEMENTAL INDENTURE</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2007

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Supplementing the Trust Indenture

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Dated as of August&nbsp;8, 2000

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Ps.4,500,000,000

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">8.49% Senior Exchange Notes due 2037

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TABLE OF CONTENTS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->


<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">2</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;101
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Definitions
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">2</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;102
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section&nbsp;References
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">4</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">ARTICLE II TITLE AND TERMS OF THE SECURITIES</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">4</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;201
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title of the Securities
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">4</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;202
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amount and Denominations
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">4</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;203
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registered Securities
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">4</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;204
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;INTENTIONALLY OMITTED&#093;
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">4</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;205
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stated Maturity
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">5</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;206
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Interest
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">5</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;207
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registration, Transfer and Exchange
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">5</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;208
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Redemption of the Securities
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">6</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;209
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Denominations
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">6</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;210
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment Currency
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">6</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;211
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicability of Certain Indenture Provisions
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">7</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;212
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Security Registrar and Paying Agent
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">7</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;213
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Global Securities
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">7</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;214
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;INTENTIONALLY OMITTED&#093;
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">9</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;215
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sinking Fund
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">9</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;216
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Conversion; Exchange
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">9</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;217
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendments
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">9</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;218
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable Procedures
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">9</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;219
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Paying and Transfer Agent
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">9</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;220
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ISIN Numbers
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">9</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Section&nbsp;221
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Calculation Agent
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">10</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">ARTICLE III MISCELLANEOUS PROVISIONS</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">12</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">EXHIBITS</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;A
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Global Securities</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ELEVENTH SUPPLEMENTAL INDENTURE, dated as of the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; day of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2007, between
GRUPO TELEVISA, S.A.B., a limited liability public stock corporation (<I>sociedad an&#243;nima burs&#225;til</I>)
organized under the laws of the United Mexican States (the &#147;<U>Issuer</U>&#148; or the
&#147;<U>Company</U>&#148;), THE BANK OF NEW YORK, a New York banking corporation, having its Corporate
Trust Office located at 101 Barclay Street, New York, New York 10286, as trustee (the
&#147;<U>Trustee</U>&#148;), registrar (&#147;<U>Registrar</U>&#148;), paying agent (&#147;<U>Paying Agent</U>&#148;) and
transfer agent (&#147;<U>Transfer Agent</U>&#148;), and THE BANK OF NEW YORK (LUXEMBOURG)&nbsp;S.A., a bank duly
incorporated and existing under the laws of Luxembourg, at its office at Aerogolf Center, 1A
Hoehenhof, L-1736 Senningerberg, Luxembourg, as paying agent, transfer agent and listing agent (a
&#147;<U>Paying Agent</U>,&#148; a &#147;<U>Transfer Agent</U>,&#148; and a &#147;<U>Listing Agent</U>,&#148; as the case may
be);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture dated
as of August&nbsp;8, 2000 (the &#147;<U>Original Indenture</U>&#148; and, together with the First Supplemental
Indenture, dated as of August&nbsp;8, 2000, the Second Supplemental Indenture, dated as of January&nbsp;19,
2001, the Third Supplemental Indenture, dated as of September&nbsp;13, 2001, the Fourth Supplemental
Indenture, dated as of March&nbsp;11, 2002, the Fifth Supplemental Indenture, dated as of March&nbsp;8, 2002,
the Sixth Supplemental Indenture, dated as of July&nbsp;31, 2002, the Seventh Supplemental Indenture
dated as of March&nbsp;18, 2005, the Eighth Supplemental Indenture, dated as of May&nbsp;26, 2005, the Ninth
Supplemental Indenture dated as of September&nbsp;6, 2005, the Tenth Supplemental Indenture dated as of
May&nbsp;9, 2007 and this Eleventh Supplemental Indenture, the &#147;<U>Indenture</U>&#148;) providing for the
issuance by the Company from time to time of its senior debt securities to be issued in one or more
series (in the Original Indenture and herein called the &#147;<U>Securities</U>&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company, in the exercise of the power and authority conferred upon and reserved
to it under the provisions of the Original Indenture and pursuant to appropriate resolutions of the
Board of Directors, has duly determined to make, execute and deliver to the Trustee, on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2007, this Eleventh Supplemental Indenture to the Original Indenture in order to establish the form
and terms of, and to provide for the creation and issue of, Securities to be designated as the
&#147;<U>8.49% Senior Exchange Notes due 2037</U>&#148; under the Original Indenture in the aggregate
principal amount of Ps.4,500,000,000 subject to Section&nbsp;202 hereof;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Section&nbsp;901 of the Original Indenture provides, among other things, that the Company,
when authorized by a Board Resolution, and the Trustee, at any time and from time to time, without
the consent of any Holders, may enter into an indenture supplemental to the Original Indenture to
establish the terms of Securities of any series as permitted by Sections&nbsp;201 and 301 of the
Original Indenture; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, all things necessary to make the Securities, when executed by the Company and
authenticated and delivered by the Trustee or any Authenticating Agent and issued upon the terms
and subject to the conditions set forth hereinafter and in the Indenture against payment therefor,
the valid, binding and legal obligations of the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Company and to make this Eleventh Supplemental Indenture a valid, binding and legal agreement
of the Company, have been done;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, This ELEVENTH SUPPLEMENTAL INDENTURE WITNESSETH that, in order to establish
the terms of the series of Securities designated as the &#147;<U>8.49% Senior Exchange Notes due
2037</U>&#148; and for and in consideration of the premises and of the covenants contained in the
Original Indenture and in this Eleventh Supplemental Indenture and for other good and valuable
consideration the receipt and sufficiency of which are hereby acknowledged, it is mutually
covenanted and agreed as follows:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>DEFINITIONS AND OTHER<BR>
PROVISIONS OF GENERAL APPLICATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;101 Definitions.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each capitalized term that is used herein and is defined in the Original Indenture shall have
the meaning specified in the Original Indenture unless such term is otherwise defined herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Applicable Procedures&#148; </I>means, with respect to any transfer or exchange of or for beneficial
interests in any Global Security, the rules and procedures of Euroclear or Clearstream Banking, as
the case may be, that apply to such transfer or exchange.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Calculation Agent&#148; </I>shall mean The Bank of New York or any successor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Clearstream Banking&#148; </I>shall mean Clearstream Banking, <I>soci&#233;t&#233; anonyme </I>(formerly Cedelbank) or
any successor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Depositary&#148; </I>shall mean The Bank of New York as common
depositary for Clearstream Banking and Euroclear, or any other depositary appointed by the Company,
<I>provided</I>, <I>however</I>, that such depositary shall have an address in the Borough of Manhattan, in The
City of New York.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Euroclear&#148; </I>shall mean the Euroclear Bank S.A./N.V., as operator of the Euroclear System, or
any successor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Global Securities&#148; </I>or <I>&#147;Global Security&#148; </I>shall have the meaning assigned to it in Section&nbsp;203
hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Interest Payment Date&#148; </I>shall have the meaning assigned to it in Section&nbsp;206 hereof.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Mexican FX Day&#148; </I>shall mean each Monday, Tuesday, Wednesday, Thursday and Friday that is (i)
not a day on which banking institutions or foreign exchange markets in Mexico City generally are
authorized or obligated by law, regulation or executive order to close and (ii)&nbsp;a day on which
banking institutions and foreign exchange markets in Mexico City are open for business with the
general public.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Mexican Peso&#148; </I>and <I>&#147;Ps.&#148; </I>shall mean the legal currency of the United Mexican States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Notes&#148; </I>shall mean the Company&#146;s 8.49% Senior Exchange Notes due 2037.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Rate Calculation Date&#148; </I>shall mean the second Mexican FX Day immediately preceding an interest
payment date, maturity date or redemption date, as applicable. Notwithstanding the preceding
sentence, if the Rate Calculation Date is not a business day, then the Rate Calculation Date shall
be the immediately preceding Mexican FX day (i.e., prior to such second Mexican FX Day) that is a
business day. &#147;Business day&#148; for purposes of such calculation shall mean each Monday, Tuesday,
Wednesday, Thursday and Friday that is (i)&nbsp;not a day on which banking institutions in New York City
or Mexico City generally are authorized or obligated by law, regulation or executive order to close
and (ii)&nbsp;a day on which banks and financial institutions in Mexico are open for business with the
general public (it being understood that payments will be made on the Notes only on days other than
a Saturday, Sunday or other day on which banking institutions in London are authorized or obligated
by law, regulation or executive order to close).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Remaining Scheduled Payments&#148; </I>shall mean, with respect to the Notes, the remaining scheduled
payments of principal thereof and interest thereon that would be due after the related Redemption
Date but for such redemption.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Securities&#148; </I>shall mean the Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Securities Act&#148; </I>shall mean the United States Securities Act of 1933, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Settlement Rate&#148; </I>shall mean the Mexican Peso / U.S. Dollar exchange rate, or the &#147;FIX FX
Rate,&#148; reported by the <I>Banco de M&#233;xico </I>(Bank of Mexico, or &#147;Central Bank&#148;) as the average of quotes
in the wholesale foreign exchange market in Mexico for transactions payable in 48 hours on its
website (which, at the date hereof, is located at http://www.banxico.gob.mx) on the applicable Rate
Calculation Date. In the event that the FIX FX Rate is not so available by 3:00 p.m. (Mexico City
time) on any Rate Calculation Date, then the Settlement Rate for such Rate Calculation Date shall
be determined by taking the arithmetic mean (such mean, the &#147;Alternative Rate&#148;) of the Mexican Peso
/ U.S. Dollar exchange rate for the foreign exchange market in Mexico for transactions payable in
48 hours offered at or about such time on such date by (i)&nbsp;Banco Nacional de M&#233;xico, S.A.,
Instituci&#243;n de Banca M&#250;ltiple, (ii)&nbsp;Banco Inbursa, S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo
Financiero Inbursa, (iii)&nbsp;Bank of America Global
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">FX, (iv)&nbsp;HSBC M&#233;xico, S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo Financiero HSBC and (v)
JPMorgan Chase Bank, N.A. (the &#147;Reference Banks&#148;); <I>provided</I>, <I>however</I>, that if any of the Reference
Banks ceases to offer such an exchange rate, that bank shall be replaced by the Company, for the
purpose of determining the Alternative Rate, with another leading bank or financial institution.
In the event that neither the FIX FX Rate nor the Alternative Rate can be ascertained on a Rate
Calculation Date in accordance with the foregoing, the Company shall determine the Settlement Rate
(and method of determining the Settlement Rate) in respect of such date in its sole and absolute
discretion, taking into consideration all available information that in good faith it deems
relevant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;102 Section&nbsp;References.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each reference to a particular Section set forth in this Eleventh Supplemental Indenture
shall, unless the context otherwise requires, refer to this Eleventh Supplemental Indenture.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>TITLE AND TERMS OF THE SECURITIES</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;201 Title of the Securities.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The title of the Securities of the series established hereby is the &#147;8.49% Senior Exchange
Notes due 2037.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;202 Amount and Denominations.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The aggregate original principal amount of the Notes which may be authenticated and delivered
under this Eleventh Supplemental Indenture is limited to Ps.4,500,000,000, except for Securities of
such series authenticated and delivered upon registration of transfer of, or in exchange for, or in
lieu of, other Securities of the same series pursuant to Section&nbsp;305, 306, 904 or 1107 of the
Original Indenture; <I>provided</I>, <I>however</I>, that the Notes may be reopened, without the consent of the
Holders thereof, for issuance of additional Securities of the same series.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;203 Registered Securities.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The certificates for the Notes shall be Registered Securities in global form and shall be in
substantially the form attached hereto as <U>Exhibit&nbsp;A</U> (the &#147;<U>Global Security</U>&#148;).
</DIV>


<DIV>&nbsp;</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section 204
[INTENTIONALLY OMITTED]</I></DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;205 Stated Maturity.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Stated Maturity of the Notes on which the principal thereof is due and payable shall be
May&nbsp;11, 2037.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;206 Interest.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
principal of the Notes shall bear interest from May&nbsp;9, 2007 or,
after the First Interest Payment Date, the most
recent Interest Payment Date to which interest has been paid or provided for, payable semiannually
on May&nbsp;11 and November&nbsp;11 of each year, commencing November&nbsp;11, 2007 to the Persons in whose names
the Notes (or one or more Predecessor Securities) are registered at the close of business on the
fifteenth calendar day preceding such Interest Payment Date. Interest payable at maturity will be
payable to the person to whom principal is payable on that date. Interest on the Notes shall be
computed on the actual number of days during the relevant interest period and a 360-day year. If
any Interest Payment Date or Maturity would otherwise be a day that is not a Business Day (as
defined in the Original Indenture), the related payment of principal, interest, premium and
Additional Amounts will be made on the next succeeding Business Day; <I>provided </I>that interest will
accrue on the principal of the Notes at the applicable interest rate from the original Interest
Payment Date to (but excluding) that next Business Day. Payments postponed to the next Business
Day in this situation will be treated as if they were made on the original due date and
postponement of this kind will not result in an Event of Default under the Notes, the Indenture or
this Eleventh Supplemental Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on the Notes will accrue at the rate of 8.49% per annum, until the principal thereof
is paid or made available for payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;207 Registration, Transfer and Exchange.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The principal of, interest, premium and Additional Amounts on the Notes shall be payable and
the Notes may be surrendered or presented for payment, the Notes may be surrendered for
registration of transfer or exchange, and notices and demands to or upon the Company in respect of
the Notes and the Indenture may be served, at the office or agency of the Company maintained for
such purposes in The City of New York, State of New York, and so long as any Notes are listed on
the Luxembourg Stock Exchange for trading on the Euro MTF and the rules of the Luxembourg Stock
Exchange so require, a Paying Agent and a Transfer Agent with a specified office in Luxembourg,
from time to time; <I>provided</I>, <I>however</I>, that at the option of the Company payment of interest on
either series may be made by check mailed to the address of the Persons entitled thereto, as such
addresses shall appear in the Security Register.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby initially appoints the Trustee at its office in The City of New York as the
Registrar, a Paying Agent and a Transfer Agent under the Indenture and the Trustee, by its
execution hereof, accepts such appointment; <I>provided</I>, <I>however</I>, that (subject to Section&nbsp;1002 of the
Indenture) the Company may at any time remove the Trustee at its office or agency in The City of
New York designated for the foregoing
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">purposes and may from time to time designate one or more other offices or agencies for the
foregoing purposes and may from time to time rescind such designations. The Company hereby
initially appoints The Bank of New York (Luxembourg) S.A. at its office at Aerogolf Center, 1A
Hoehenhof, L-1736 Senningerberg, Luxembourg, to act as a Luxembourg Paying Agent, Transfer Agent
and Listing Agent under the Indenture and The Bank of New York (Luxembourg) S.A. by its execution
hereof, hereby accepts such appointment. The Trustee, the Registrar, each Paying Agent and
Transfer Agent shall keep copies of the Indenture available for inspection and copying by holders
of the Notes during normal business hours at their respective offices.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, a Holder of the Peso equivalent of U.S.$10&nbsp;million or more in
aggregate principal amount of certificated Notes on a Regular Record Date shall be entitled to
receive interest payments, if any, on any Interest Payment Date, other than an Interest Payment
Date that is also the date of Maturity, by wire transfer of immediately available funds if
appropriate wire transfer instructions have been received in writing by the Trustee not less than
15 calendar days prior to the applicable Interest Payment Date. Any wire transfer instructions
received by the Trustee will remain in effect until revoked by the Holder. Any interest not
punctually paid or duly provided for on a certificated note on any interest payment date other than
the maturity date will cease to be payable to the Holder of the Note as of the close of business on
the related record date and may either be paid (1)&nbsp;to the person in whose name the certificated
note is registered at the close of business on a special record date for the payment of the
defaulted interest that is fixed by the Company, written notice of which will be given to the
holders of the notes not less than 30 calendar days prior to the special record date, or (2)&nbsp;at any
time in any other lawful manner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;208 Redemption of the Securities.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Notes are redeemable by the Company pursuant to Sections&nbsp;1008 and 1009 of the Original
Indenture in accordance with Article&nbsp;Eleven thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;209 Denominations.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interests in the Notes shall be in minimum denominations of Ps.1,000,000 and integral
multiples of Ps.100,000 in excess thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;210 Payment Currency.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;While the Notes are denominated in Mexican Pesos, payments of principal, interest, Additional
Amounts and any other amounts due in respect of the Notes will be made in Dollars, except as
provided below, in amounts determined by translating the Mexican Peso amounts into Dollars at the
Settlement Rate on the applicable Rate Calculation Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Holder of the Notes may elect to receive payment of principal, interest, Additional Amounts
and any other amounts due in respect of the Notes in Mexican Pesos. A Holder who wishes to elect
to receive a particular payment in Mexican Pesos must notify the principal paying agent no later
than the eighth day preceding the
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">applicable payment date (but not earlier than the applicable record date). Holders who wish
to receive payments in Mexican Pesos must deliver a separate notice of any such election with
respect to each payment date. Holders who own beneficial interests in a Global Security through
accounts with Clearstream Banking or Euroclear must arrange to have such notice given on their
behalf.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;211 Applicability of Certain Indenture Provisions.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Sections of the Original Indenture shall apply to the Notes, except for Articles Twelve
and Thirteen.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;212 Security Registrar and Paying Agent.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee shall be Security Registrar and the initial Paying Agent and initial Transfer
Agent for the Notes (subject to the Company&#146;s right (subject to Section&nbsp;1002 of the Indenture) to
remove the Trustee as such Paying Agent and or Transfer Agent with respect to each series and or,
from time to time, to designate one or more co-registrars and one or more other Paying Agents and
Transfer Agents and to rescind from time to time any such designations), and The City of New York
is designated as a Place of Payment for the Notes. The Company shall maintain a Paying Agent and
Transfer Agent in Luxembourg for so long as any Notes are listed on the Luxembourg Stock Exchange
for trading on the Euro MTF.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;213 Global Securities.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form of Securities</U>. The Notes may be issued in whole or in part in the form of one or
more Global Securities in fully registered form. No Notes will be issued in bearer form. The
initial Depositary for the Global Securities shall be The Bank of New York as Common Depositary for Euroclear and Clearstream, and the depositary arrangements shall
be those employed by whoever shall be the Depositary with respect to the Notes from time to time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Global Security authenticated under this Indenture shall be registered in the name of the
Depositary or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian
therefore, and each such Global Security shall constitute a single Security for all purposes of
this Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision in this Indenture or the Securities, no Global Security
may be exchanged, in whole or in part for certificated Notes, and no transfer of a Global Security
in whole or in part may be registered, in the name of any Person, other than the Depositary or a
nominee thereof unless (A)&nbsp;the Depositary has notified the Company that it is unwilling or unable
to continue as Depositary for such Global Security and a successor Depositary has not been
appointed within 90&nbsp;days, or (B)&nbsp;the Depositary has ceased to be a clearing agency registered under
the Exchange Act, or (C)&nbsp;the Company in its sole discretion determines that the Global Securities
(in whole not in part) should be exchanged for certificated Notes and delivers a written notice to
such effect to the Trustee or (D)&nbsp;there shall have occurred and be continuing an Event of
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Default with respect to such Global Security. If any of these events occur, the Trustee will
reissue the Global Securities in fully certificated registered form to holders of beneficial
interests in the Global Securities and will recognize the registered holders of the certificated
Notes as Holders under the Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each time that the Company transfers or exchanges a new Note in certificated form for another
Note in certificated form, and after the Transfer Agent receives a completed assignment form, the
Company will make available for delivery the new definitive Note at, as the case may be, the
offices of the Transfer Agent in New York City or at the main office of the Transfer Agent in
Luxembourg. Alternatively, at the option of the person requesting the transfer or exchange, the
Company will mail, at that person&#146;s risk, the new definitive Note to the address of the person that
is specified in the assignment form. In addition, if the Company issues Notes in certificated
form, then it will make payments of, interest on and any other amounts payable under the Notes to
Holders in whose names Notes in certificated form, are registered at the close of business on the
record date for these payments. If the Notes are issued in certificated form, the Company will
make payments of principal and any redemption payments against the surrender of these certificated
Notes at the offices of the Paying Agent in New York City or, as long as the Notes are listed on
the Luxembourg Stock Exchange for trading on the Euro MTF, at the main office of the Paying Agent
in Luxembourg.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company issues the Notes in certificated registered form, so long as the notes are
listed on the Luxembourg Stock Exchange for trading on the Euro MTF, the Company will maintain a
paying agent and a transfer agent in Luxembourg. The Company will also publish a notice in
Luxembourg in a leading newspaper having general circulation in Luxembourg (which is expected to be
<I>d&#146;Wort</I>). The Company will also publish a notice in Luxembourg in a leading newspaper having
general circulation in Luxembourg if any change is made in the Paying Agent or the Transfer Agent
in Luxembourg.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any exchange, the certificated Notes shall be issued in definitive, fully-registered
form, without interest coupons, shall have an aggregate principal amount equal to that of such
Global Security or portion thereof to be so exchanged, shall be registered in such names and be in
such denominations as the Depositary shall designate and shall bear any legends required hereunder.
Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the
Trustee, as Security Registrar. With regard to any Global Security to be exchanged in part, either
such Global Security shall be so surrendered for exchange or, if the Trustee is acting as custodian
for the Depositary or its nominee with respect to such Global Security, the principal thereof shall
be reduced, by an amount equal to the portion thereof to be so exchanged, by means of any
appropriate adjustment made on the records of the Trustee. Upon any such surrender or adjustment,
the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the
order of the Depositary or an authorized representative thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of the &#147;<U>Operating Procedures of the Euroclear System</U>&#148; and the
&#147;<U>Terms and Conditions Governing Use of Euroclear</U>&#148; and the &#147;Management
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Regulations&#148; and &#147;<U>Instructions to Participants</U>&#148; of Clearstream Banking, respectively,
shall be applicable to any Global Security insofar as interests in such Global Security are held by
the agent members of Euroclear or Clearstream Banking. Account holders or participants in
Euroclear and Clearstream Banking shall have no rights under the Indenture with respect to such
Global Security, and the Depositary or its nominee may be treated by the Company, the Trustee, and
any agent of the Company or the Trustee as the owner of such Global Security for all purposes
whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee,
or any agent of the Company or the Trustee from giving effect to any written certification, proxy
or other authorization furnished by the Depositary or impair the operation of customary practices
governing the exercise of the rights of a holder of any Security.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;214 &#091;INTENTIONALLY OMITTED&#093;</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;215 Sinking Fund.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Notes shall not be subject to any sinking fund or similar provision and shall not be
redeemable at the option of the holder thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;216 Conversion; Exchange.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Notes shall not be convertible into Common Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;217 Amendments.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Supplemental Indenture may be amended by the Company without the consent of any holder of
the Notes in order for the restrictions on transfer contained herein to be in compliance with
applicable law or the Applicable Procedures.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;218 Applicable Procedures.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything else herein, the Company shall not be required to permit a transfer
to a Global Note that is not permitted by the Applicable Procedures.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;219 Paying and Transfer Agent.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bank of New York (Luxembourg) S.A. agrees that the provisions of Section&nbsp;1003 of the
Original Indenture shall be binding on it as Paying Agent and Transfer Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;220 ISIN Numbers.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;311 of the Original Indenture is hereby amended and restated with respect to the Notes
(but not with respect to any other series of Securities) as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&#147;The Company in issuing the Notes may use &#145;ISIN&#146; numbers (if then generally in
use), and, if so, the Trustee shall use &#145;ISIN&#146; numbers in
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">notices of redemption as a convenience to Holders; provided that any such notice
may state that no representation is made as to the correctness of such numbers
either as printed on the Notes or as contained in any notice of a redemption and
that reliance may be placed only on the other identification numbers printed on the
Notes, and any such redemption shall not be affected by any defect in or omission
of such numbers. The Company will promptly notify the Trustee in writing of any
change in the &#145;ISIN&#146; numbers. The Company may also use a &#145;Common Code&#146; number.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;221 Calculation Agent.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;As long as any Notes are outstanding, the Company shall maintain a calculation
agent for calculating the Settlement Rate in respect of the Notes (a &#147;Calculation Agent&#148;).
The Calculation Agent shall determine the Settlement Rate applicable to the Notes in
accordance with Section&nbsp;210 hereof and the Dollars to be paid per Ps.1,000,000 principal
amount of Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Calculation Agent shall notify, in writing to the Company, the Trustee and any
Paying Agent of each Settlement Rate and the Dollar amounts to be paid per Ps.1,000,000
principal amount of Notes as soon as reasonably practicable after determination thereof
(and in no case later than one Business Day prior to the applicable Interest Payment Date,
Redemption Date, Stated Maturity or other Maturity). In addition, the Calculation Agent
shall provide, promptly after determination thereof (and in no case later than one Business
Day prior to the applicable Interest Payment Date, Redemption Date, Stated Maturity or
other Maturity), the Settlement Rate and the Dollar amounts to be paid per Ps.1,000,000
principal amount of Notes in the same manner as for giving notice to Holders of the Notes
pursuant to Section&nbsp;106 of the Original Indenture and, for so long as any Notes are listed
on the Euro MTF and its rules so require, in a newspaper with general circulation in
Luxembourg in accordance with the rules and regulations of the Euro MTF.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The determinations of the Calculation Agent shall, in the absence of manifest error,
be conclusive and final for all purposes and binding on the Company, the Trustee, the
Depositary and on the Holders of the Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Company hereby appoints The Bank of New York as the initial Calculation Agent
with respect to the Notes, and The Bank of New York hereby accepts such appointment in such
capacity and its obligations as set forth in this Eleventh Supplemental Indenture upon the
terms and conditions set forth in this Eleventh Supplemental Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Company hereby agrees to pay the Calculation Agent its reasonable fees and
expenses as agreed upon separately in writing.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Calculation Agent accepts its obligations set forth herein upon the terms and
conditions hereof, including the following terms and conditions (to all of which the
Company agrees);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in acting under this Eleventh Supplemental Indenture and in connection
with the Notes, the Calculation Agent, acting as agent for the Company, does not
assume any obligation toward, or any relationship of agency or trust or fiduciary
for or with, any of the Holders of the Notes;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) unless herein otherwise specifically provided, any order, certificate,
notice, request or communication from the Company made or given in writing under
any provision of this Eleventh Supplemental Indenture shall be sufficient if signed
by any person whom the Calculation Agent reasonably believes to be a duly
authorized officer or attorney-in-fact of the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Calculation Agent shall be obligated to perform only such duties as
are set forth specifically herein, in the Notes or in this Eleventh Supplemental
Indenture and any duties necessarily incidental thereto;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Calculation Agent shall be protected and shall incur no liability for
or in respect of any action taken or omitted to be taken or anything suffered by it
in reliance upon any provision contained in the Notes, this Eleventh Supplemental
Indenture or any information supplied to it by an officer of the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Calculation Agent shall incur no liability hereunder except for loss
sustained by reason of its or its employees&#146; or agents&#146; gross negligence, willful
misconduct or bad faith;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the Calculation Agent shall not be required to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its
duties hereunder, or in the exercise of any of its rights or powers;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the Calculation Agent may consult with counsel of its own choice and the
advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by
it hereunder in good faith and reliance thereon;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the Calculation Agent makes no representations as to the validity or
sufficiency of this Eleventh Supplemental Indenture; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) the Calculation Agent shall in no event be liable for special, indirect
or consequential loss or damage of any kind whatsoever (including, without
limitation, lost profits), even if the Calculation Agent
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">has been advised of the likelihood of such loss or damage and regardless of
the form of action.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;The Company shall have the right to remove the Calculation Agent from such
capacity at its discretion. The Company shall appoint a bank, trust company, investment
banking firm or other financial institution to act as the successor Calculation Agent to
The Bank of New York or any of its successors in that capacity in the event that:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any acting Calculation Agent is unable or unwilling to act;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any acting Calculation Agent fails to comply with its obligations under
this Eleventh Supplemental Indenture; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Company proposes to remove the Calculation Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Company agrees to indemnify the Calculation Agent to the same extent as the
Trustee under Section&nbsp;607 of the Original Indenture.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE III</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>MISCELLANEOUS PROVISIONS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee makes no undertaking or representations in respect of, and shall not be
responsible in any manner whatsoever for and in respect of, the validity or sufficiency of this
Eleventh Supplemental Indenture or the proper authorization or the due execution hereof by the
Company or for or in respect of the recitals and statements contained herein, all of which recitals
and statements are made solely by the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as expressly amended hereby, the Original Indenture shall continue in full force and
effect in accordance with the provisions thereof and the Original Indenture is in all respects
hereby ratified and confirmed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Eleventh Supplemental Indenture and all its provisions shall be deemed a part of the
Original Indenture in the manner and to the extent herein and therein provided. This Eleventh
Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the
State of New York, without regard to conflicts of laws principles thereof other than Section&nbsp;5-1401
of the New York General Obligations Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Eleventh Supplemental Indenture may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same instrument.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have caused this Eleventh Supplemental Indenture to be
duly executed as of the day and year first above written.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>GRUPO TELEVISA, S.A.B.,</B><BR>
as Issuer<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Salvi Folch Viadero</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Jorge Lutteroth Echegoyen</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Vice President and Controller</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Signature Page to the Eleventh Supplemental Indenture</B></U>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left"><B>THE BANK OF NEW YORK</B>,</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">As Trustee, Registrar, Paying Agent and Transfer Agent</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">BY</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left"><B>THE BANK OF NEW YORK (LUXEMBOURG)&nbsp;S.A.</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">as Luxembourg Paying Agent, Transfer Agent and Listing Agent</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">BY</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>Exhibit&nbsp;A</U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">No.&nbsp;1
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Ps.&nbsp;&nbsp;&nbsp;&nbsp;<BR></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">ISIN No.</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Common Code</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Grupo Televisa, S.A.B.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">8.49% Senior Exchange Note due 2037

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grupo Televisa, S.A.B., a publicly traded limited liability stock corporation (<I>sociedad
an&#243;nima burs&#225;til</I>), organized under the laws of the United Mexican States (hereinafter called the
&#147;<U>Company</U>,&#148; which term includes any successor corporation under the Indenture referred to
below), for value received, hereby promises to pay to The Bank of New York Depositary (Nominees)
Limited, or registered assigns, the principal sum of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexican Pesos (Ps.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) on May&nbsp;11,
2037, and to pay interest thereon from May&nbsp;9, 2007, or, after
the First Interest Payment Date, from the most recent date to which interest
has been paid or provided for, semiannually on May&nbsp;11 and November&nbsp;11, in each year (each, an
&#147;<U>Interest Payment Date</U>&#148;), commencing November&nbsp;11, 2007, at the rate of 8.49% per annum,
until the principal hereof is paid or made available for payment. Interest on this Note shall be
calculated on the actual number of days during the relevant interest period and a 360-day year. If
any payment is due on the Note on a day that is not a Business Day, the related payment of
principal, interest, premium and Additional Amounts will be made on the next succeeding Business
Day; provided that interest will accrue on the principal of the Notes at the applicable interest
rate from the original Interest Payment Date to (but excluding) that next Business Day or Interest
Payment Date. The interest so payable and paid or provided for on any Interest Payment Date will,
as provided in such Indenture, be paid to the Person in whose name this Note (or one or more
Predecessor Notes) is registered at the close of business on the Regular Record Date for such
interest, which shall be the fifteenth calendar day (whether or not a Business Day) preceding such
Interest Payment Date. Any such interest which is payable, but is not paid or provided for, on any
Interest Payment Date shall forthwith cease to be payable to the registered Holder hereof on the
relevant Regular Record Date by virtue of having been such Holder, and may be paid to the Person in
whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by the Company, notice
whereof shall be given to the Holders of Notes of this Series not less than 10&nbsp;days prior to such
Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Notes may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in such Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of principal, interest, Additional Amounts and any other amounts due on this Note will
be made at the office or agency of the Company maintained for that purpose in The Borough of
Manhattan, The City of New York, in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">public and private debts or, subject to certain conditions as set forth in the reverse hereof,
Mexican Pesos; <I>provided</I>, <I>however</I>, that, at the option of the Company, interest may be paid by check
mailed to the address of the Person entitled thereto as such address shall appear in the Security
Register; <I>provided</I>, <I>further</I>, that payment to the Depositary may be made by wire transfer to the
account designated by the Depositary in writing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Note is a global Security issued on the date hereof which represents Ps. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of the
principal amount of the Company&#146;s 8.49% Senior Exchange Notes due 2037. This Note is one of a duly
authorized issue of securities of the Company (herein called the &#147;<U>Notes</U>&#148;) issued and to be
issued in one series under an Indenture dated as of August&nbsp;8, 2000, as supplemented by the First
Supplemental Indenture dated as of August&nbsp;8, 2000, the Second Supplemental Indenture dated as of
January&nbsp;19, 2001, the Third Supplemental Indenture dated as of September&nbsp;13, 2001, the Fourth
Supplemental Indenture dated as of March&nbsp;11, 2002, the Fifth Supplemental Indenture dated as of
March&nbsp;8, 2002, and the Sixth Supplemental Indenture dated as of July&nbsp;31, 2002, the Seventh
Supplemental Indenture dated as of March&nbsp;18, 2005, the Eighth Supplemental Indenture dated as of
May&nbsp;26, 2005, the Ninth Supplemental Indenture dated as of September&nbsp;6, 2005, the Tenth
Supplemental Indenture dated as of May&nbsp;9, 2007 (herein called, together with the Eleventh
Supplemental Indenture referred to below and all other indentures supplemental thereto, the
&#147;<U>Indenture</U>&#148;) between the Company and The Bank of New York, as Trustee (herein called the
&#147;<U>Trustee</U>&#148;, which term includes any successor trustee under the Indenture), to which
Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of the Notes, and of the terms upon which the Notes are, and are to be,
authenticated and delivered. This Note is one of the series designated on the face hereof,
initially limited (subject to exceptions provided in the Indenture) to the aggregate principal
amount specified in the Eleventh Supplemental Indenture between the Company, The Bank of New York,
as Trustee, Registrar, Paying Agent, Transfer Agent, and Calculation Agent and The Bank of New York
(Luxembourg) S.A., as Luxembourg Paying Agent, Transfer Agent and Listing Agent, dated as of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2007, establishing the terms of the Notes pursuant to the Indenture (the &#147;<U>Eleventh
Supplemental Indenture</U>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an Event of Default with respect to the Notes shall occur and be continuing, the principal
of the Notes may be declared due and payable in the manner and with the effect provided in the
Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Notes of each series issued under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of not less than a majority in aggregate principal amount of the Notes at
the time Outstanding of each series affected thereby. For all purposes of the Indenture, holders
of the Notes issued under the Eleventh Supplemental Indenture will vote together with holders of
the Notes issued pursuant to the Tenth Supplemental Indenture who do not exchange such Notes for
new Notes pursuant to the exchange offer being consummated pursuant to the terms of the
Registration Rights Agreements that were attached as Exhibit&nbsp;F to the Tenth
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Supplemental Indenture, as a single series of Notes. The Indenture also contains provisions
permitting the Holders of specified percentages in aggregate principal amount of the Notes of any
series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive
compliance by the Company with certain provisions of the Indenture and certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall
be conclusive and binding upon such Holder and upon all future Holders of this Note and of any
Notes issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Note or such Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and interest on this Note, at the times, place and rate, and in the coin or currency,
herein and in the Indenture prescribed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As provided in the Indenture and subject to certain limitations set forth therein and in this
Note, the transfer of this Note may be registered on the Security Register upon surrender of this
Note for registration of transfer at the office or agency of the Company maintained for the purpose
in any place where the principal of and interest on this Note are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in
writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Notes are issuable in book-entry fully registered form without coupons in integral multiples of Ps.100,000 as specified in the Eleventh
Supplemental Indenture establishing the terms of the Notes and as more fully provided in the
Original Indenture. As provided in the Original Indenture, and subject to certain limitations set
forth in the Original Indenture and in this Note, the Notes are exchangeable for a like aggregate
principal amount of Notes of this Series in different authorized denominations, as requested by the
Holders surrendering the same.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith, other than in certain cases provided in the Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to due presentment of this Note for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name this Note is
registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither
the Company, the Trustee nor any such agent shall be affected by notice to the contrary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Indenture contains provisions whereby (i)&nbsp;the Company may be discharged from its
obligations with respect to the Notes (subject to certain exceptions) or (ii)&nbsp;the Company may be
released from its obligation under specified covenants and agreements
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">in the Indenture, in each case if the Company irrevocably deposits with the Trustee, as trust
funds in trust for the purpose of making the following payments, specifically pledged as security
for, and dedicated solely to, the benefit of the Holders, of (i)&nbsp;an amount in Dollars or in Mexican
Pesos, in which such senior debt securities, together with all interest appertaining thereto, are
then specified as payable at their stated maturity, or (ii)&nbsp;an amount of Government Obligations
applicable to such senior debt securities and the interest appertaining thereto (determined on the
basis of the currency in which such senior debt securities and interest appertaining thereto are
then specified as payable at their stated maturity), which through the scheduled payment of
principal and interest in accordance with their terms will provide money, or (iii)&nbsp;a combination
thereof in an amount, in any case, sufficient, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the
Trustee, to pay and discharge the entire indebtedness on all Notes of this series, and satisfies
certain other conditions, all as more fully provided in the Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Note shall be governed by and construed in accordance with the laws of the State of New
York without giving effect to any provisions relating to conflicts of laws other than Section
5-1401 of the New York General Obligations Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All terms used in this Note which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee under the Indenture by the manual signature of one of its authorized signatories, this Note
shall not be entitled to any benefits under the Indenture or be valid or obligatory for any
purpose.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">GRUPO TELEVISA, S.A.B.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Attest:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ricardo Maldonado Y&#225;&#241;ez
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jorge Lutteroth Echegoyen</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Secretary of the Board of Directors of Grupo Televisa S.A.B.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President and Controller</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Salvi Rafael Folch Viadero</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is one of the Notes of the series designated therein referred to in the within-mentioned
Indenture.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Dated: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2007</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">The Bank of New York,</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">as Trustee</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF REVERSE OF SECURITY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Note is one of a duly authorized issue of Notes of the Company designated as its 8.49%
Senior Exchange Notes due 2037 (hereinafter called the &#147;<U>Notes</U>&#148;), limited in aggregate
principal amount to Ps.4,500,000,000, issued and to be issued under a Eleventh Supplemental
Indenture, dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2007 (hereinafter called the &#147;<U>Eleventh Supplemental
Indenture</U>&#148;), among the Company, The Bank of New York, as Trustee, Registrar, Paying Agent,
Transfer Agent, and Calculation Agent, and The Bank of New York (Luxembourg) S.A., as Luxembourg
Paying Agent, Transfer Agent and Listing Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of principal, interest, additional amounts and any other amounts due in respect of the
Notes will be made, except as provided below, in Dollars, in amounts determined by translating the
Mexican Peso amounts into Dollars at the Settlement Rate on the applicable Rate Calculation Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the purposes of translating Mexican Peso amounts into Dollars:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Settlement Rate&#148; </I>shall mean the Mexican Peso / U.S. Dollar exchange rate, or the &#147;FIX FX
Rate,&#148; reported by the <I>Banco de M&#233;xico </I>(Bank of Mexico, or &#147;Central Bank&#148;) as the average of quotes
in the wholesale foreign exchange market in Mexico for transactions payable in 48 hours on its
website (which, at the date hereof, is located at <I>http://www.banxico.gob.mx</I>) on the applicable Rate
Calculation Date. In the event that the FIX FX Rate is not so available by 3:00 p.m. (Mexico City
time) on any Rate Calculation Date, then the Settlement Rate for such Rate Calculation Date shall
be determined by taking the arithmetic mean (such mean, the &#147;Alternative Rate&#148;) of the Mexican Peso
/ U.S. Dollar exchange rate for the foreign exchange market in Mexico for transactions payable in
48 hours offered at or about such time on such date by (i)&nbsp;Banco Nacional de M&#233;xico, S.A.,
Instituci&#243;n de Banca M&#250;ltiple, (ii)&nbsp;Banco Inbursa, S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo
Financiero Inbursa, (iii)&nbsp;Bank of America Global FX, (iv)&nbsp;HSBC M&#233;xico, S.A., Instituci&#243;n de Banca
M&#250;ltiple, Grupo Financiero HSBC and (v)&nbsp;JPMorgan Chase Bank, N.A. (the &#147;Reference Banks&#148;);
<I>provided, however</I>, that if any of the Reference Banks ceases to offer such an exchange rate, that
bank shall be replaced by the Company, for the purpose of determining the Alternative Rate, with
another leading bank or financial institution. In the event that neither the FIX FX Rate nor the
Alternative Rate can be ascertained on a Rate Calculation Date in accordance with the foregoing,
the Company shall determine the Settlement Rate (and method of determining the Settlement Rate) in
respect of such date in its sole and absolute discretion, taking into consideration all available
information that in good faith it deems relevant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Rate Calculation Date&#148; </I>shall mean the second Mexican FX Day immediately preceding an interest
payment date, maturity date or redemption date, as applicable. Notwithstanding the preceding
sentence, if the Rate Calculation Date is not a business day, then the Rate Calculation Date shall
be the immediately preceding Mexican FX day (i.e., prior to such second Mexican FX Day) that is a
business day. For purposes of such calculation, &#147;business day&#148; shall mean each Monday, Tuesday,
Wednesday, Thursday
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and Friday that is (i)&nbsp;not a day on which banking institutions in New York City or Mexico City
generally are authorized or obligated by law, regulation or executive order to close and (ii)&nbsp;a day
on which banks and financial institutions in Mexico are open for business with the general public
(it being understood that payments will be made on the Notes only on days other than a Saturday,
Sunday or other day on which banking institutions in London are authorized or obligated by law,
regulation or executive order to close).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;Mexican FX Day&#148; </I>shall mean each Monday, Tuesday, Wednesday, Thursday and Friday that is (i)
not a day on which banking institutions or foreign exchange markets in Mexico City generally are
authorized or obligated by law, regulation or executive order to close and (ii)&nbsp;a day on which
banking institutions and foreign exchange markets in Mexico City are open for business with the
general public.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Holder of the Notes may elect to receive payment of principal, interest, additional amounts
and any other amounts due in respect of the notes in Mexican Pesos. A Holder who wishes to elect
to receive a particular payment in Mexican Pesos must notify the principal paying agent no later
than the eighth day preceding the applicable payment date (but not earlier than the applicable
record date). Holders who wish to receive payments in Mexican Pesos must deliver a separate notice
of any such election with respect to each payment date. Holders who own beneficial interests in
the Global Note through accounts with Clearstream Banking or Euroclear must arrange to have such
notice given on their behalf.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Additional Amounts</I>. All payments of amounts due in respect of the Notes by the Company will
be made without withholding or reduction for or on account of any present or future taxes or duties
of whatever nature imposed or levied by or on behalf of Mexico any political subdivision thereof or
any agency or authority in or of Mexico (&#147;<U>Taxes</U>&#148;) unless the withholding or deduction of
such Taxes is required by law or by the interpretation or administration thereof. In that event,
the Company will pay such additional amounts (&#147;<U>Additional Amounts</U>&#148;) as may be necessary in
order that the net amounts receivable by the Holders after such withholding or deduction shall
equal the respective amounts which would have been receivable in respect of the Notes, in the
absence of such withholding or deduction, which Additional Amounts shall be due and payable when
the amount to which such Additional Amounts relate are due and payable; except that no such
Additional Amounts shall be payable with respect to:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any Taxes which are imposed on, or deducted or withheld from, payments made to the
Holder or beneficial owner of the Notes by reason of the existence of any present or former
connection between the Holder or beneficial owner of the Notes (or between a fiduciary,
settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder
or beneficial owner, if such Holder or beneficial owner is an estate, trust, corporation or
partnership) and Mexico (or any political subdivision or territory or possession thereof or
area subject to its jurisdiction) (including, without limitation, such Holder or beneficial
owner (or such fiduciary, settlor, beneficiary, member, shareholder or possessor) (x)&nbsp;being
or having been a citizen or resident thereof, (y)&nbsp;maintaining or having
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">maintained an office, permanent establishment, fixed base or branch therein, or (z)
being or having been present or engaged in trade or business therein) other than the mere
holding of such Notes or the receipt of amounts due in respect thereof;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any estate, inheritance, gift, sales, stamp, transfer or personal property Tax;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any Taxes that are imposed on, or withheld or deducted from, payments made to
the Holder or beneficial owner of the Notes to the extent such Taxes would not have been so
imposed, deducted or withheld but for the failure by such Holder or beneficial owner of
such Notes to comply with any certification, identification, information, documentation or
other reporting requirement concerning the nationality, residence, identity or connection
with Mexico (or any political subdivision or territory or possession thereof or area
subject to its jurisdiction) of the Holder or beneficial owner of such Notes if (x)&nbsp;such
compliance is required or imposed by a statute, treaty, regulation, rule, ruling or
administrative practice in order to make any claim for exemption from, or reduction in the
rate of, the imposition, withholding or deduction of any Taxes, and (y)&nbsp;at least 60&nbsp;days
prior to the first payment date with respect to which the Company shall apply this clause
(iii), the Company shall have notified all the Holders of Notes, in writing, that such
Holders or beneficial owners of the Notes will be required to provide such information or
documentation;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any Taxes imposed on, or withheld or deducted from, payments made to a Holder or
beneficial owner of the Notes at a rate in excess of the 4.9% rate of Tax in effect on the
date hereof and uniformly applicable in respect of payments made by the Company to all
Holders or beneficial owners eligible for the benefits of a treaty for the avoidance of
double taxation to which Mexico is a party without regard to the particular circumstances
of such Holders or beneficial owners (provided that, upon any subsequent increase in the
rate of Tax that would be applicable to payments to all such Holders or beneficial owners
without regard to their particular circumstances, such increased rate shall be substituted
for the 4.9% rate for purposes of this clause (iv)), but only to the extent that (x)&nbsp;such
Holder or beneficial owner has failed to provide on a timely basis, at the reasonable
request of the Company (subject to the conditions set forth below), information,
documentation or other evidence concerning whether such Holder or beneficial owner is
eligible for benefits under a treaty for the avoidance of double taxation to which Mexico
is a party if necessary to determine the appropriate rate of deduction or withholding of
Taxes under such treaty or under any statute, regulation, rule, ruling or administrative
practice, and (y)&nbsp;at least 60&nbsp;days prior to the first payment date with respect to which
the Company shall make such reasonable request, the Company shall have notified the Holders
of the Notes, in writing, that such Holders or beneficial owners of the Notes will be
required to provide such information, documentation or other evidence;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) to or on behalf of a Holder of the Notes in respect of Taxes that would not have
been imposed but for the presentation by such Holder for payment on a date more than 15
days after the date on which such payment became due and payable or the date on which
payment thereof is duly provided for and notice thereof given to Holders, whichever occurs
later, except to the extent that the Holder of such Notes would have been entitled to
Additional Amounts in respect of such Taxes on presenting such Notes for payment on any
date during such 15-day period; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any combination of (i), (ii), (iii), (iv)&nbsp;or (v)&nbsp;above (the Taxes described in
clauses (i)&nbsp;through (vi), for which no Additional Amounts are payable, are hereinafter
referred to as &#147;<U>Excluded Taxes</U>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, the limitations on the Company&#146;s obligation to pay Additional
Amounts set forth in clauses (iii)&nbsp;and (iv)&nbsp;above shall not apply if (a)&nbsp;the provision of
information, documentation or other evidence described in such clauses (iii)&nbsp;and (iv)&nbsp;would be
materially more onerous, in form, in procedure or in the substance of information disclosed, to a
Holder or beneficial owner of a Note (taking into account any relevant differences between U.S. and
Mexican law, rules, regulations or administrative practice) than comparable information or other
reporting requirements imposed under U.S. tax law, regulations and administrative practice (such as
IRS Forms W-8BEN and W-9) or (b)&nbsp;Rule&nbsp;3.23.8 issued by the <I>Secretar&#237;a de Hacienda y Cr&#233;dito
P&#250;blico </I>(Ministry of Finance and Public Credit), or a substantially similar successor of such rule
is in effect, unless the provision of the information, documentation or other evidence described in
clauses (iii)&nbsp;and (iv)&nbsp;is expressly required by statute, regulation, rule, ruling or administrative
practice in order to apply Rule&nbsp;3.23.8 (or a substantially similar successor of such rule), the
Company cannot obtain such information, documentation or other evidence on its own through
reasonable diligence and the Company otherwise would meet the requirements for application of Rule
3.23.8 (or such other successor of such rule). In addition, such clauses (iii)&nbsp;and (iv)&nbsp;shall not
be construed to require that a non-Mexican pension or retirement fund or a non-Mexican financial
institution or any other Holder register with the Ministry of Finance and Public Credit for the
purpose of establishing eligibility for an exemption from or reduction of Mexican withholding tax
or to require that a Holder or beneficial owner certify or provide information concerning whether
it is or is not a tax-exempt pension or retirement fund.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At least 30&nbsp;days prior to each date on which any payment under or with respect to the Notes is
due and payable, if the Company will be obligated to pay Additional Amounts with respect to such
payment (other than Additional Amounts payable on the date of the Indenture or Supplemental
Indenture relating to such Notes), the Company will deliver to the relevant Trustee an Officers&#146;
Certificate stating the fact that such Additional Amounts will be payable and the amounts so
payable and will set forth such other information necessary to enable the relevant Trustee to pay
such Additional Amounts to Holders on the payment date. Whenever either in the Indenture or such
Supplemental Indenture there is mentioned, in any context, the payment of principal (and premium,
if any), interest or any other amount payable under or with respect to any Notes, such mention
shall be deemed to include mention of the payment of Additional
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amounts to the extent that, in such context, Additional Amounts are, were or would be payable
in respect thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Optional Redemption. </I>The Company may redeem any of the Notes (the &#147;Optional Redemption&#148;) in
whole or in part, at any time or from time to time prior to their maturity, upon not less than 30
days&#146; nor more than 60&nbsp;days&#146; prior notice of the date for such redemption (the &#147;Redemption Date&#148;)
mailed by first-class mail to each Holder&#146;s registered address, at a redemption price equal to the
greater of (1)&nbsp;100% of the principal amount of such Notes redeemed and (2)&nbsp;the sum of the present
values of each remaining scheduled payment of principal and interest thereon (exclusive of interest
accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (calculated
on the basis of the actual number of days in each such remaining interest period and a 360-day
year) at the M Bono Rate (the &#147;Make-Whole Amount&#148;), plus in each case accrued and unpaid interest
on the principal amount of the Notes to the Redemption Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;M Bono Rate&#148; means, with respect to any redemption date, the rate per annum equal to the
semiannual equivalent yield to maturity or interpolated maturity (on a day count basis) of the
Comparable M Bono Issue, assuming a price for the Comparable M Bono Issue (expressed as a
percentage of its principal amount) equal to the Comparable M Bono Price for such redemption date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Comparable M Bono Issue&#148; means the Mexican <I>Bonos de Desarrollo del Gobierno Federal con Tasa
de Inter&#233;s Fija </I>security or securities selected by an Independent Investment Banker as having an
actual or interpolated maturity comparable to the remaining term of the notes to be redeemed that
would be utilized, at the time of the selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of a comparable maturity to the
remaining term of the notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Independent Investment Banker&#148; means one of the Reference M Bono Dealers appointed by the
Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Comparable M Bono Price&#148; means, with respect to any redemption date (1)&nbsp;the average of the
Reference M Bono Dealer Quotations for such redemption date, after excluding the highest and lowest
such Reference M Bono Dealer Quotation or (2)&nbsp;if the Company obtains fewer than four such Reference
M Bono Dealer Quotations, the average of all such quotations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Reference M Bono Dealer&#148; means (i)&nbsp;Casa de Bolsa Santander S.A., (ii)&nbsp;ING (M&#233;xico) S.A. de
C.V. Casa de Bolsa, (iii)&nbsp;BBVA Bancomer S.A., (iv)&nbsp;Banco Nacional de M&#233;xico, S.A., Instituci&#243;n de
Banca M&#250;ltiple, Grupo Financiero Banamex and (v)&nbsp;HSBC M&#233;xico, S.A., Instituci&#243;n de Banca M&#250;ltiple,
Grupo Financiero HSBC, or their affiliates that are primary Mexican government securities dealers;
provided, however, that if any of the foregoing shall cease to be a primary Mexican government
securities dealer in Mexico City (a &#147;Primary M Bono Dealer&#148;), the Company will substitute therefor
another Primary M Bono Dealer.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Reference M Bono Dealer Quotation&#148; means, with respect to each Reference M Bono Dealer and
any redemption date, the average, as determined by the Company, of the bid and asked prices for the
Comparable M Bono Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Company by such Reference M Bono Dealer at 2:30 pm Mexico City time on the third
business day preceding such redemption date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On and after the Redemption Date, interest will cease to accrue on the Notes or any portion of
the Notes called for redemption (unless the Company defaults in the payment of the redemption price
and accrued interest). On or before the Redemption Date, the Company will deposit with the Trustee
money sufficient to pay the Make-Whole Amount and (unless the redemption date shall be an interest
payment date) accrued interest to the redemption date on the Notes to be redeemed on such date. If
less than all of the Notes are to be redeemed, the notes to be redeemed shall be selected by the
Trustee by such method as the Trustee shall deem appropriate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The election of the Company to redeem the Notes shall be evidenced by a certificate (a
&#147;Make-Whole Redemption Certificate&#148;) of an officer of the Company, which certificate shall be
delivered to the Trustee. The Company shall, not less than 45&nbsp;days nor more than 60&nbsp;days prior to
the Redemption Date, notify the Trustee in writing of such Redemption Date and of all other
information necessary to the giving by the Trustee of notices of the Optional Redemption. The
Trustee shall be entitled to rely conclusively upon the information so furnished by the Company in
the Make-Whole Redemption Certificate and shall be under no duty to check the accuracy or
completeness thereof. Such notice shall be irrevocable and upon its delivery the Company shall be
obligated to make the payment or payments to the Trustee referred to therein at least two Business
Days prior to such Redemption Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of the Optional Redemption shall be given by the Trustee to the holders, in accordance
with the provisions of Section&nbsp;106 of the Original Indenture, upon the mailing by first-class
postage prepaid to each holder at the address of such holder as it appears in the Register not less
than 30&nbsp;days nor more than 60&nbsp;days prior to the Redemption Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The notice of Optional Redemption shall state:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;the Redemption Date;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;the Make-Whole Amount;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;the sum of all other amounts due to the holders under the Notes and the Indenture;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;that on the Redemption Date the Make-Whole Amount will become due and payable upon each
such Notes so to be redeemed;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;the place or places, including the offices of our Paying Agent in Luxembourg, where such
Notes so to be redeemed are to be surrendered for payment of the Make-Whole Amount;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;the ISIN number of the Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of the Optional Redemption having been given as aforesaid, the Notes so to be redeemed
shall, on the Redemption Date, become due and payable at the Make-Whole Amount therein specified.
Upon surrender of any such Notes for redemption in accordance with such notice, such Notes shall be
paid by the Paying Agent on behalf of the Company on the Redemption Date; provided that moneys
sufficient therefor have been deposited with the Trustee for the holders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in the Indenture or in the Notes, if a Make-Whole
Redemption Certificate has been delivered to the Trustee and the Company shall have paid to the
Trustee for the benefit of the holders (i)&nbsp;the Make-Whole Amount and (ii)&nbsp;all other amounts due to
the holders and the Trustee under the Notes and the Indenture, then neither the holders nor the
Trustee on their behalf shall any longer be entitled to exercise any of the rights of the holders
under the Notes other than the rights of the holders to receive payment of such amounts from the
Paying Agent and the occurrence of an Event of Default whether before or after such payment by the
Company to the Trustee for the benefit of the holders shall not entitle either the holders or the
Trustee on their behalf after such payment to declare the principal of any Notes then outstanding
to be due and payable on any date prior to the Redemption Date. The funds paid to the Trustee
shall be used to redeem the Notes on the Redemption Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Repurchase of Notes upon a Change of Control</I>. The Company must commence, within 30&nbsp;days of
the occurrence of a Change of Control, and consummate an Offer to Purchase for all Notes then
outstanding, at a purchase price equal to 101% of the principal amount of the Notes on the date of
repurchase, plus accrued interest (if any) to the date of purchase. The Company is not required to
make an Offer to Purchase following a Change of Control if a third party makes an Offer to Purchase
that would be in compliance with the provisions described in this Section if it were made by the
Company and such third party purchases (for the consideration referred to in the immediately
preceding sentence) the Notes validly tendered and not withdrawn. Prior to the mailing of the
notice to Holders and publishing such notice to holders in a daily newspaper of general circulation
in Luxembourg commencing such Offer to Purchase, but in any event within 30&nbsp;days following any
Change of Control, the Company, covenants to (i)&nbsp;repay in full all indebtedness of the Company that
would prohibit the repurchase of the Notes pursuant to such Offer to Purchase or (ii)&nbsp;obtain any
requisite consents under instruments governing any such indebtedness of the Company to permit the
repurchase of the Notes. The Company shall first comply with the covenant in the preceding
sentence before it shall be required to repurchase Notes pursuant to this covenant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Withholding Tax Redemption</I>. The Notes are subject to redemption (&#147;Withholding Tax
Redemption&#148;) at any time (a &#147;Withholding Tax Redemption Date&#148;),
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">as a whole but not in part, at the election of the Company, at a redemption price equal to
100% of the unpaid principal amount thereof plus accrued and unpaid interest, if any, to and
including the Withholding Tax Redemption Date (the &#147;Withholding Tax Redemption Price&#148;) if, as a
result of (i)&nbsp;any change in or amendment to the laws, rules or regulations of Mexico, or any
political subdivision or taxing authority or other instrumentality thereof or therein, or (ii)&nbsp;any
amendment to or change in the rulings or interpretations relating to such laws, rules or
regulations made by any legislative body, court or governmental or regulatory agency or authority
(including the enactment of any legislation and the publication of any judicial decision or
regulatory determination) of Mexico, or any political subdivision or taxing authority or other
instrumentality thereof or therein, or (iii)&nbsp;any official interpretation, application or
pronouncement by any legislative body, court or governmental or regulatory agency or authority that
provides for a position with respect to such laws, rules or regulations that differs from the
theretofore generally accepted position, which amendment or change is enacted, promulgated, issued
or announced or which interpretation, application or pronouncement is issued or announced, in each
case, after the Closing Date, the Company has become or would become required to pay any Additional
Amounts in excess of those attributable to Taxes that are imposed, deducted or withheld at a rate
of 10% on or from any payments under the Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The election of the Company to redeem the Notes shall be evidenced by a certificate (a
&#147;Withholding Tax Redemption Certificate&#148;) of a financial officer of the Company, which certificate
shall be delivered to the Trustee. The Company shall, not less than 35&nbsp;days nor more than 45&nbsp;days
prior to the Withholding Tax Redemption Date, notify the Trustee in writing of such Withholding Tax
Redemption Date and of all other information necessary to the giving by the Trustee of notices of
such Withholding Tax Redemption. The Trustee shall be entitled to rely conclusively upon the
information so furnished by the Company in the Withholding Tax Redemption Certificate and shall be
under no duty to check the accuracy or completeness thereof Such notice shall be irrevocable and
upon its delivery the Company shall be obligated to make the payment or payments to the Trustee
referred to therein at least two Business Days prior to such Withholding Tax Redemption Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of Withholding Tax Redemption shall be given by the Trustee to the holders, in
accordance with the provisions of Section&nbsp;106 of the Original Indenture, upon the mailing by
first-class postage prepaid to each holder at the address of such holder as it appears in the
Register not less than 30&nbsp;days nor more than 60&nbsp;days prior to the Withholding Tax Redemption Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The notice of Withholding Tax Redemption shall state:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Withholding Tax Redemption Date;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Withholding Tax Redemption Price;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the sum of all other amounts due to the holders under the Notes and the
Indenture;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) that on the Withholding Tax Redemption Date the Withholding Tax Redemption Price
will become due and payable upon each such Note so to be redeemed;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the place or places, including the offices of our Paying Agent in Luxembourg,
where such Notes so to be redeemed are to be surrendered for payment of the Withholding Tax
Redemption Price; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the ISIN number of the Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of Withholding Tax Redemption having been given as aforesaid, the Notes so to be
redeemed shall, on the Withholding Tax Redemption Date, become due and payable at the Withholding
Tax Redemption Price therein specified. Upon surrender of any such Notes for redemption in
accordance with such notice, such Notes shall be paid by the Paying Agent on behalf of the Company
on the Withholding Tax Redemption Date; <I>provided </I>that moneys sufficient therefor have been
deposited with the Trustee for the holders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in the Indenture or in the Notes, if a Withholding
Tax Redemption Certificate has been delivered to the Trustee and the Company shall have paid to the
Trustee for the benefit of the holders (i)&nbsp;the Withholding Tax Redemption Price and (ii)&nbsp;all other
amounts due to the holders and the Trustee under the Notes and the Indenture, then neither the
holders nor the Trustee on their behalf shall any longer be entitled to exercise any of the rights
of the holders under the Notes other than the rights of the holders to receive payment of such
amounts from the Paying Agent and the occurrence of an Event of Default whether before or after
such payment by the Company to the Trustee for the benefit of the holders shall not entitle either
the holders or the Trustee on their behalf after such payment to declare the principal of any Notes
then outstanding to be due and payable on any date prior to the Withholding Tax Redemption Date.
The funds paid to the Trustee shall be used to redeem the Notes on the Withholding Tax Redemption
Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All terms used in this Note which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND BE CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ANY PROVISIONS RELATING TO CONFLICTS OF LAWS
OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.</B>
</DIV>

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</DIV>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>y36897a1exv99w1.htm
<DESCRIPTION>EX-99.1: FORM OF LETTER OF TRANSMITTAL
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;99.1</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 14pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Letter Of
    Transmittal</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Offer to
    Exchange<BR>
    8.49%&#160;Senior Exchange Notes due 2037, which have been
    registered under the<BR>
    Securities Act of 1933, as amended,<BR>
    for any and all outstanding 8.49%&#160;Senior Notes due 2037<BR>
    of<BR>
    Grupo Televisa, S.A.B.<BR>
    Regulation&#160;S Notes (Common Code 030017838 and ISIN
    XS0300178380)<BR>
    144A Notes (Common Code 030017960 and ISIN
    XS0300179602)</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B> THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT
    5:00&#160;P.M., NEW YORK CITY TIME,
    ON&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007 (THE &#147;EXPIRATION DATE&#148;), UNLESS EXTENDED BY GRUPO
    TELEVISA, S.A.B. IN ITS SOLE DISCRETION</B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Exchange Agent for the Exchange Offer is:<BR>
    The Bank Of New York, London</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <I><FONT style="font-family: 'Times New Roman', Times">By Mail,
    Hand or Overnight Delivery:<BR>
    <BR>
    </FONT></I><FONT style="font-family: 'Times New Roman', Times">THE
    BANK OF NEW YORK,LONDON as Exchange Agent<BR>
    Lower Ground Floor<BR>
    30 Cannon Street<BR>
    London EC4M 6XH<BR>
    Attention: Mick F. Smith<BR>
    Facsimile Transmission:<BR>
    <FONT style="white-space: nowrap">44-207-964-6152</FONT><BR>
    Confirm by Telephone:<BR>
    <FONT style="white-space: nowrap">44-207-964-6512</FONT>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Delivery of this Letter of Transmittal to an address other
    than as set forth above or transmission of this Letter of
    Transmittal via a facsimile transmission to a number other than
    as set forth above will not constitute a valid delivery.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned acknowledges receipt of the prospectus, dated as
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2005 (the &#147;Prospectus&#148;), of Grupo Televisa, S.A.B.
    (&#147;Televisa&#148;), and this Letter of Transmittal (the
    &#147;Letter of Transmittal&#148;), which together describe
    Televisa&#146;s offer (the &#147;Exchange Offer&#148;) to
    exchange its 8.49%&#160;Senior Exchange Notes due 2037 (the
    &#147;Exchange Notes&#148;), which have been registered under
    the Securities Act, for each of its outstanding
    8.49%&#160;Senior Notes due 2037 (the &#147;Outstanding
    Notes&#148;) from the holders thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The terms of the Exchange Notes are identical in all material
    respects (including principal amount, interest rate and
    maturity) to the terms of the Outstanding Notes for which they
    may be exchanged pursuant to the Exchange Offer, except that the
    Exchange Notes are freely transferable by holders thereof
    (except as provided herein or in the Prospectus).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Capitalized terms used but not defined herein shall have the
    same meaning given them in the Prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Your bank or broker can assist you in completing this form.
    The instructions included with this Letter of Transmittal must
    be followed. Questions and requests for assistance or for
    additional copies of the Prospectus and this Letter of
    Transmittal may be directed to the Exchange Agent.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned has checked the appropriate boxes below and
    signed this Letter of Transmittal to indicate the action the
    undersigned desires to take with respect to the Exchange Offer.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Please read the entire Letter of Transmittal and the
    Prospectus carefully before checking any box below.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    List below the Outstanding Notes to which this Letter of
    Transmittal relates. If the space provided below is inadequate,
    the certificate numbers and aggregate principal amounts should
    be listed on a separate signed schedule affixed hereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="60%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterright -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterright -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="14" align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">DESCRIPTION OF NOTES</FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
    &nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
    <B>Name(s) and Address(es) of<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
    <B>Registered Holder(s)<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Certificate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Principal Amount<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt">
    <B>Principal Amount<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
    <B>(Please fill in)</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Number(s)*</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Represented**</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt">
    <B>Tendered**</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B><FONT style="font-size: 9pt">Total Principal Amount of
    Notes</FONT></B>
</DIV>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="14" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
<DIV style="text-indent: -8pt; margin-left: 17pt">
    <FONT style="font-size: 9pt">*&#160;Need not be completed by
    holders delivering by book-entry transfer (see below).
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="14" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -12pt; margin-left: 16pt">
    <FONT style="font-size: 9pt">**&#160;Outstanding Notes may be
    tendered in whole or in part in minimum denominations of
    Ps.1,000,000 and integral multiples of Ps.100,000 in excess
    thereof. All Outstanding Notes held shall be deemed tendered
    unless a lesser number is specified in this column. See
    instruction&#160;4.
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Holders of Outstanding Notes whose Outstanding Notes are not
    immediately available or who cannot deliver all other required
    documents to the Exchange Agent on or prior to the Expiration
    Date or who cannot complete the procedures for book-entry
    transfer on a timely basis, must tender their Outstanding Notes
    according to the guaranteed delivery procedures set forth in the
    Prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Unless the context otherwise requires, the term
    &#147;holder&#148; for purposes of this Letter of Transmittal
    means any person in whose name Outstanding Notes are registered
    or any other person who has obtained a properly completed bond
    power from the registered holder or any person whose Outstanding
    Notes are held of record by Clearstream Banking,
    Soci&#233;t&#233; Anonyme, Luxembourg, or Clearstream, or
    Euroclear Bank S.A./N.V., or Euroclear.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Please read this entire Letter of Transmittal carefully
    before completing the boxes below.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="Wingdings">&#111;</FONT>&#160;&#160;
</TD>
    <TD align="left">    <B>Check here if certificates for tendered Outstanding Notes are
    enclosed herewith</B>.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="Wingdings">&#111;</FONT>&#160;&#160;
</TD>
    <TD align="left">    <B>Check here if tendered notes are being delivered by
    book-entry transfer made to the account maintained by the
    Exchange Agent with Euroclear or Clearstream and complete the
    following:</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name of Tendering
    Institution:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=504 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Account Number with Euroclear or
    Clearstream:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=504 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Transaction Code
    Number:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=504 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="Wingdings">&#111;</FONT>&#160;&#160;</TD>
    <TD align="left">
    <B>Check here if you tendered by book-entry transfer and desire
    any non-exchanged notes to be returned to you by crediting the
    book-entry transfer facility account number set forth above.</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    2
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 18pt; border-right: 1px solid #000000; padding-right: 18pt; border-bottom: 1px solid #000000; padding-bottom: 18pt; border-left: 1px solid #000000; padding-left: 18pt"><!-- Begin box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Use of
    Guaranteed Delivery<BR>
    (See Instruction&#160;1)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To be completed only if tendered notes are being delivered
    pursuant to a notice of guaranteed delivery previously sent to
    the exchange agent. Complete the following (please enclose a
    photocopy of such notice of guaranteed delivery):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name of Registered
    Holder(s):&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Window Ticket Number (if
    any):&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Date of Execution of the Notice of Guaranteed
    Delivery:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name of Eligible Institution that Guaranteed
    Delivery:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If Delivered By Book-Entry Transfer, Complete The Following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name of Tendering
    Institution:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Account Number at Euroclear or
    Clearstream:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Transaction Code
    Number:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 18pt; border-right: 1px solid #000000; padding-right: 18pt; border-bottom: 1px solid #000000; padding-bottom: 18pt; border-left: 1px solid #000000; padding-left: 18pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Broker-Dealer
    Status</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="Wingdings">&#111;</FONT>&#160;&#160;</TD>
    <TD align="left">
    Check here if you are a broker-dealer that acquired your
    tendered notes for your own account as a result of market-making
    or other trading activities and wish to receive 10 additional
    copies of the Prospectus and any amendments or supplements
    thereto.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=504 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Address:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=504 length=0 -->
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;&#160;&#160;&#160;&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=504 length=0 -->
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Note:
    signatures must be provided below</FONT></B>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    3
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PLEASE
    READ THE ACCOMPANYING INSTRUCTIONS&#160;CAREFULLY</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Ladies and Gentlemen:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Upon the terms and subject to the conditions of the Exchange
    Offer, the undersigned hereby tenders to Televisa the principal
    amount of the Outstanding Notes indicated above. Subject to, and
    effective upon, the acceptance for exchange of all or any
    portion of the Outstanding Notes tendered herewith in accordance
    with the terms and conditions of the Exchange Offer (including,
    if the Exchange Offer is extended or amended, the terms and
    conditions of any such extension or amendment), the undersigned
    hereby exchanges, assigns and transfers to, or upon the order
    of, Televisa all right, title and interest in and to such
    Outstanding Notes as are being tendered herewith. The
    undersigned hereby irrevocably constitutes and appoints the
    Exchange Agent as its true and lawful agent and attorney-in-fact
    of the undersigned (with full knowledge that the Exchange Agent
    also acts as the agent of Televisa, in connection with the
    Exchange Offer) to cause the Outstanding Notes to be assigned,
    transferred and exchanged.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned represents and warrants that it has full power
    and authority to tender, exchange, assign and transfer the
    Outstanding Notes and to acquire Exchange Notes issuable upon
    the exchange of such tendered Outstanding Notes, and that, when
    the same are accepted for exchange, Televisa will acquire good
    and unencumbered title to the tendered Outstanding Notes, free
    and clear of all liens, restrictions, charges and encumbrances
    and not subject to any adverse claim. The undersigned also
    warrants that it will, upon request, execute and deliver any
    additional documents deemed by the Exchange Agent or Televisa to
    be necessary or desirable to complete the exchange, assignment
    and transfer of the tendered Outstanding Notes or transfer
    ownership of such Outstanding Notes on the account books
    maintained by the book-entry transfer facility. The undersigned
    further agrees that acceptance of any and all validly tendered
    Outstanding Notes by Televisa and the issuance of Exchange Notes
    in exchange therefor shall constitute performance in full by
    Televisa of its obligations under the Registration Rights
    Agreement, dated May&#160;9, 2007, among Televisa and Goldman,
    Sachs&#038; Co. and HSBC Securities (USA) Inc. (the
    &#147;Registration Rights Agreement&#148;), and that Televisa
    shall have no further obligations or liabilities thereunder. The
    undersigned will comply with its obligations under the
    Registration Rights Agreement. The undersigned has read and
    agrees to all terms of the Exchange Offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Exchange Offer is subject to certain conditions as set forth
    in the Prospectus under the caption &#147;The Exchange
    Offer&#160;&#151; Conditions.&#148; The undersigned recognizes
    that as a result of these conditions (which may be waived, in
    whole or in part, by Televisa), as more particularly set forth
    in the Prospectus, Televisa may not be required to exchange any
    of the Outstanding Notes tendered hereby and, in such event, the
    Outstanding Notes not exchanged will be returned to the
    undersigned at the address shown above, promptly following the
    expiration or termination of the Exchange Offer. In addition,
    Televisa may amend the Exchange Offer at any time prior to the
    Expiration Date if any of the conditions set forth under
    &#147;The Exchange Offer&#160;&#151; Conditions&#148; occur.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned understands that tenders of Outstanding Notes
    pursuant to any one of the procedures described in the
    Prospectus and in the instructions attached hereto will, upon
    Televisa&#146;s acceptance for exchange of such tendered
    Outstanding Notes, constitute a binding agreement between the
    undersigned and Televisa upon the terms and subject to the
    conditions of the Exchange Offer. The undersigned recognizes
    that, under circumstances set forth in the Prospectus, Televisa
    may not be required to accept for exchange any of the
    Outstanding Notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By tendering Outstanding Notes and executing this Letter of
    Transmittal, the undersigned represents that (1)&#160;the
    Exchange Notes acquired pursuant to the exchange offer are being
    acquired in the ordinary course of business of the undersigned,
    (2)&#160;the undersigned is not engaging in and does not intend
    to engage in a distribution of the Exchange Notes, (3)&#160;the
    undersigned does not have an arrangement or understanding with
    any person to participate in the distribution of such Exchange
    Notes, (4)&#160;the undersigned is not an &#147;affiliate&#148;
    of Grupo Televisa, S.A.B. or the guarantors within the meaning
    of Rule&#160;405 under the Securities Act of 1933, as amended,
    and (5)&#160;the undersigned is not acting on behalf of any
    person who could not truthfully make the foregoing
    representations. If the undersigned is a broker-dealer that will
    receive Exchange Notes for its own account in exchange for
    Outstanding Notes that were acquired as a result of
    market-making activities or other trading activities, it
    acknowledges that it will deliver a Prospectus meeting the
    requirements of the Securities Act in connection with any resale
    of such Exchange Notes. By acknowledging that it will deliver
    and by delivering a Prospectus meeting the requirements of the
    Securities Act in connection with any resale of such Exchange
    Notes, the undersigned is not deemed to admit that it is an
    &#147;underwriter&#148; within the meaning of the Securities
    Act. If the undersigned is a person in the United Kingdom, the
    undersigned represents that its ordinary activities involve it
    in acquiring, holding, managing or disposing of investments (as
    principal or agent) for the purposes of its business.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    4
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any holder of Outstanding Notes using the Exchange Offer to
    participate in a distribution of the Exchange Notes
    (i)&#160;cannot rely on the position of the staff of the
    Securities and Exchange Commission enunciated in its
    interpretive letter with respect to Exxon Capital Holdings
    Corporation (available May&#160;13, 1988)&#160;or similar
    interpretive letters and (ii)&#160;must comply with the
    registration and Prospectus delivery requirements of the
    Securities Act in connection with a secondary resale transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    All authority herein conferred or agreed to be conferred shall
    survive the death or incapacity of the undersigned and every
    obligation of the undersigned hereunder shall be binding upon
    the heirs, personal representatives, successors and assigns of
    the undersigned. Tendered Outstanding Notes may be withdrawn at
    any time prior to the Expiration Date in accordance with the
    terms of this Letter of Transmittal. Except as stated in the
    Prospectus, this tender is irrevocable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Certificates for all Exchange Notes delivered in exchange for
    tendered Outstanding Notes and any Outstanding Notes delivered
    herewith but not exchanged, and registered in the name of the
    undersigned, shall be delivered to the undersigned at the
    address shown below the signature of the undersigned.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned, by completing the box entitled
    &#147;Description of Outstanding Notes Tendered Herewith&#148;
    above and signing this letter, will be deemed to have tendered
    the Outstanding Notes as set forth in such box.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 18pt; border-right: 1px solid #000000; padding-right: 18pt; border-bottom: 1px solid #000000; padding-bottom: 18pt; border-left: 1px solid #000000; padding-left: 18pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PLEASE
    SIGN HERE<BR>
    </FONT></B><FONT style="font-family: 'Times New Roman', Times">(To
    Be Completed By All Tendering Holders of<BR>
    Outstanding Notes Regardless of Whether Notes<BR>
    Are Being Physically Delivered Herewith, unless an Agent&#146;s
    Message<BR>
    Is Delivered in Connection with a Book-Entry Transfer of Such
    Notes)
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This Letter of Transmittal must be signed by the registered
    holder(s) of Outstanding Notes exactly as their name(s)
    appear(s) on certificate(s) for Outstanding Notes or on a
    security position listing, or by person(s) authorized to become
    registered holder(s) by endorsements and documents transmitted
    with this Letter of Transmittal. If the signature is by a
    trustee, executor, administrator, guardian, attorney-in-fact,
    officer or other person acting in a fiduciary or representative
    capacity, such person must set forth his or her full title below
    under &#147;Capacity&#148; and submit evidence satisfactory to
    the exchange agent of such person&#146;s authority to so act.
    See Instruction&#160;5 below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If the signature appearing below is not of the registered
    holder(s) of the Outstanding Notes, then the registered
    holder(s) must sign a valid power of attorney.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    X&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    X&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">Signature(s) of Holder(s) or
    Authorized Signatory</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dated&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=120 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name(s)&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Capacity&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Address&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Including Zip Code)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Area Code and Telephone
    No.&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">Please Complete Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    Herein</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    SIGNATURE GUARANTEE (If required&#160;&#151; see
    Instructions&#160;2 and 5 below)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Certain Signatures Must be Guaranteed by a Signature Guarantor
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Name of Signature Guarantor
    Guaranteeing Signatures)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Address (including zip code)
    and Telephone Number (including area code) of Firm)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Authorized Signature)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Printed Name)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Title)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dated&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=120 -->
</DIV>
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    6
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="49%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="47%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -0pt; margin-left 0pt;">
<B><FONT style="font-size: 10pt">SPECIAL ISSUANCE INSTRUCTIONS<BR>(See Instructions&#160;4 through 7)<BR><BR></FONT></B><FONT style="font-size: 10pt">To be completed ONLY if certificates for Outstanding Notes in a principal amount not tendered are to be issued in the name of, or Exchange Notes issued pursuant to the exchange offer are to be issued in the name of, someone other than the person or persons
whose name(s) appear(s) within this Letter of Transmittal or issued to an address different from that shown in the box entitled &#147;Description of Notes&#148; within this Letter of Transmittal.<BR><BR>Issue:&#160;&#160;<FONT face="Wingdings">&#111;</FONT>&#160;Exchange Notes&#160;&#160;<FONT face="Wingdings">&#111;</FONT>&#160;Outstanding Notes <BR>&#160;&#160;&#160;&#160;&#160;&#160;&#160;(Complete
as applicable) <BR>Name&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=0 --></FONT><B><FONT style="font-size: 8pt">(Please Print)<BR></FONT><FONT style="font-size: 10pt">Address&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- c
allerid=208 iwidth=240 length=0 --></FONT><FONT style="font-size: 8pt">(Please Print)<BR><DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=240 length=0 -->(Zip Code)<BR><DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=240 length=0 -->Tax Identification or Social Security Number<BR>(See Substitute Form W-9 herein)<BR></FONT></B><FONT style="font-size: 10pt">Credit Outstanding Notes not tendered, but represented by certificates tendered by this Letter of Transmittal, by book-entry transfer to:<BR><BR><FONT face="Wingdings">&#111;</FONT>&#160;Euroclear or Clearstream<BR>Account Number&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=120 --><BR>Credit Exchange Notes issued pursuant to the exchange offer by book-entry transfer to:<BR><FONT face=
"Wingdings">&#111;</FONT>&#160;Euroclear or Clearstream<BR>Account Number&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=120 --></FONT>
</DIV>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -0pt; margin-left 0pt;">
<B><FONT style="font-size: 10pt">SPECIAL DELIVERY INSTRUCTIONS<BR>(See Instructions 4 through 7)<BR>To be completed ONLY if certificates for Outstanding Notes in a principal amount not tendered, or Exchange Notes, are to be sent to someone other than the person or persons whose name(s) appear(s) within this Letter of Transmittal to an address different from that shown in the box entitled &#147;Description
of Notes&#148; within this Letter of Transmittal.<BR><BR></FONT></B><FONT style="font-size: 10pt">Deliver:&#160;&#160;<FONT face="Wingdings">&#111;</FONT>&#160;Exchange Notes&#160;&#160;<FONT face="Wingdings">&#111;</FONT>&#160;Outstanding Notes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(Complete as applicable) <BR>Name&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
&#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=0 --></FONT><B><FONT style="font-size: 8pt">(Please Print)<BR></FONT><FONT style="font-size: 10pt">Address&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=0 --></FONT><FONT style="font-size: 8pt">(Please Print)<BR><CENTER style="font
- -size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 -->(Zip Code)<BR><CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 -->Tax Identification or Social Security Number<BR>(See Substitute Form W-9 herein)<BR></FONT></B><FONT style="font-size: 10pt">Is this a permanent address change?<BR><FONT face="Wingdings">&#111;</FONT>&#160;Yes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<FONT face="Wingdings">&#111;</FONT>&#160;No (check one box)</FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    7
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INSTRUCTIONS&#160;TO
    LETTER OF TRANSMITTAL</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>FORMING PART OF THE TERMS AND CONDITIONS OF THE EXCHANGE
    OFFER</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    1.&#160;<I>Delivery of this Letter of Transmittal and
    Notes.</I>&#160;&#160;This Letter of Transmittal is to be
    completed by holders of Outstanding Notes if certificates
    representing such notes are to be forwarded herewith, or, unless
    an agent&#146;s message is utilized, if delivery of such
    certificates is to be made by book-entry transfer to the account
    maintained by Euroclear or Clearstream, pursuant to the
    procedures set forth in the Prospectus under &#147;The Exchange
    Offer&#160;&#151; Procedures for Tendering.&#148; For a holder
    to properly tender notes pursuant to the exchange offer, a
    properly completed and duly executed Letter of Transmittal (or a
    manually signed facsimile thereof), together with any signature
    guarantees and any other documents required by these
    Instructions, or a properly transmitted agent&#146;s message in
    the case of a book entry transfer, must be received by the
    Exchange Agent at its address set forth herein on or prior to
    the expiration date, and either (1)&#160;certificates
    representing such notes must be received by the exchange agent
    at its address, or (2)&#160;such notes must be transferred
    pursuant to the procedures for book-entry transfer described in
    the Prospectus under &#147;The Exchange Offer&#160;&#151;
    Book-Entry Transfer&#148; and a book-entry confirmation must be
    received by the exchange agent on or prior to the expiration
    date. A holder who desires to tender notes and who cannot comply
    with procedures set forth herein for tender on a timely basis or
    whose notes are not immediately available must comply with the
    guaranteed delivery procedures discussed below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The method of delivery of this Letter of Transmittal, the
    Outstanding Notes and all other required documents to the
    Exchange Agent is at the election and sole risk of the holder.
    Instead of delivery by mail, holders should use an overnight or
    hand delivery service. In all cases, holders should allow for
    sufficient time to ensure delivery to the Exchange Agent prior
    to the expiration of the exchange offer. Holders may request
    their broker, dealer, commercial bank, trust company or nominee
    to effect these transactions for such holder. Holders should not
    send any Note, Letter of Transmittal or other required document
    to Televisa.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If a holder desires to tender notes pursuant to the exchange
    offer and (1)&#160;certificates representing such notes are not
    immediately available, (2)&#160;time will not permit such
    holder&#146;s Letter of Transmittal, certificates representing
    such notes or other required documents to reach the exchange
    agent on or prior to the expiration date, or (3)&#160;the
    procedures for book-entry transfer (including delivery of an
    agent&#146;s message) cannot be completed on or prior to the
    expiration date, such holder may nevertheless tender such notes
    with the effect that such tender will be deemed to have been
    received on or prior to the expiration date if the guaranteed
    delivery procedures set forth in the Prospectus under &#147;The
    Exchange Offer&#160;&#151; Guaranteed Delivery Procedures&#148;
    are followed. Pursuant to such procedures, (1)&#160;the tender
    must be made by or through an eligible guarantor institution (as
    defined in Instruction&#160;2 below), (2)&#160;a properly
    completed and duly executed notice of guaranteed delivery,
    substantially in the form provided by Televisa herewith, or an
    agent&#146;s message with respect to a guaranteed delivery that
    is accepted by Televisa, must be received by the exchange agent
    on or prior to the expiration date, and (3)&#160;the
    certificates for the tendered notes, in proper form for transfer
    (or a book-entry confirmation of the transfer of such notes into
    the exchange agent&#146;s account at Euroclear or Clearstream as
    described in the Prospectus) together with a Letter of
    Transmittal (or manually signed facsimile thereof) properly
    completed and duly executed, with any required signature
    guarantees and any other documents required by the Letter of
    Transmittal, or a properly transmitted agent&#146;s message,
    must be received by the exchange agent within three New York
    Stock Exchange, Inc. trading days after the execution of the
    notice of guaranteed delivery.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Upon request to the exchange agent, a notice of guaranteed
    delivery will be sent to holders who wish to tender their
    Outstanding Notes according to the guaranteed delivery
    procedures set forth above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    2.<I>&#160;Guarantee of Signatures.</I>&#160;&#160;Signatures on
    this Letter of Transmittal or a notice of withdrawal must be
    guaranteed by a member firm of a registered national securities
    exchange or of the National Association of Securities Dealers,
    Inc., a commercial bank or trust company having an office or
    correspondent in the United States or by an &#147;eligible
    guarantor institution&#148; within the meaning of
    <FONT style="white-space: nowrap">Rule&#160;17Ad-15</FONT>
    promulgated under the Securities Exchange Act of 1934, as
    amended (banks; brokers and dealers; credit unions; national
    securities exchanges; registered securities associations;
    learning agencies; and savings associations) unless the notes
    tendered hereby are tendered (1)&#160;by a registered holder of
    notes (or by a participant in Euroclear or Clearstream whose
    name appears on a security position listing as the owner of such
    notes) who has not completed any of the boxes entitled
    &#147;Special Issuance Instructions&#148; or &#147;Special
    Delivery Instructions,&#148; on the Letter of Transmittal, or
    (2)&#160;for the account of an &#147;eligible guarantor
    institution.&#148; If the notes are registered in the name of a
    person other than the person who signed the Letter of
    Transmittal or if notes not tendered are to be returned to, or
    are to be issued to the order of, a person other than the
    registered holder or if notes not tendered are to be sent to
    someone other than the registered holder, then the signature on
    this Letter of Transmittal accompanying the tendered notes must
    be guaranteed as described above. Beneficial
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    8
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    owners whose notes are registered in the name of a broker,
    dealer, commercial bank, trust company or other nominee must
    contact such broker, dealer, commercial bank, trust company or
    other nominee if they desire to tender notes. See &#147;The
    Exchange Offer&#160;&#151; Procedures for Tendering Outstanding
    Notes,&#148; in the Prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    3.&#160;<I>Withdrawal of Tenders.</I>&#160;&#160;Except as
    otherwise provided in the Prospectus, tenders of notes may be
    withdrawn at any time on or prior to the expiration date. For a
    withdrawal of tendered notes to be effective, a written or
    facsimile transmission notice of withdrawal must be received by
    the exchange agent on or prior to the expiration date at its
    address set forth on the cover of this Letter of Transmittal.
    Any such notice of withdrawal must (1)&#160;specify the name of
    the person who tendered the notes to be withdrawn,
    (2)&#160;identify the notes to be withdrawn, including the
    certificate number or numbers shown on the particular
    certificates evidencing such notes (unless such notes were
    tendered by book-entry transfer) and the aggregate principal
    amount represented by such notes, and (3)&#160;be signed by the
    holder of such notes in the same manner as the original
    signature on the Letter of Transmittal by which such notes were
    tendered (including any required signature guarantees), or be
    accompanied by (i)&#160;documents of transfer sufficient to have
    the trustee register the transfer of the notes into the name of
    the person withdrawing such notes, and (ii)&#160;a properly
    completed irrevocable proxy authorizing such person to effect
    such withdrawal on behalf of such holder. If the notes to be
    withdrawn have been delivered or otherwise identified to the
    exchange agent, a signed notice of withdrawal is effective
    immediately upon written or facsimile notice of such withdrawal
    even if physical release is not yet effected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any permitted withdrawal of notes may not be rescinded. Any
    notes properly withdrawn will thereafter be deemed not validly
    tendered for purposes of the exchange offer. However, properly
    withdrawn notes may be retendered by following one of the
    procedures described in the Prospectus under the caption
    &#147;The Exchange Offer&#160;&#151;&#160;Procedures for
    Tendering&#148; at any time prior to the expiration date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    4.&#160;<I>Partial Tenders.</I>&#160;&#160;Tenders of notes
    pursuant to the exchange offer will be accepted only in
    principal amounts of at least Ps.1,000,000 and in integral
    multiples of Ps.100,000 in excess thereof. If less than the
    entire principal amount of any notes evidenced by a submitted
    certificate is tendered, the tendering holder must fill in the
    principal amount tendered in the last column of the box entitled
    &#147;Description of Notes&#148; herein. The entire principal
    amount represented by the certificates for all notes delivered
    to the exchange agent will be deemed to have been tendered
    unless otherwise indicated. If the entire principal amount of
    all notes held by the holder is not tendered, certificates for
    the principal amount of notes not tendered and Exchange Notes
    issued in exchange for any notes tendered and accepted will be
    sent (or, if tendered by book-entry transfer, returned by credit
    to the account at Euroclear or Clearstream designated herein) to
    the holder unless otherwise provided in the appropriate box on
    this Letter of Transmittal (see Instruction&#160;6), as soon as
    practicable following the expiration date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    5.&#160;<I>Signature on this Letter of Transmittal; Bond Powers
    and Endorsements; Guarantee of Signatures.</I>&#160;&#160;If
    this Letter of Transmittal is signed by the registered holder(s)
    of the Outstanding Notes tendered hereby, the signature must
    correspond with the name(s) as written on the face of
    certificates without alteration, enlargement or change
    whatsoever. If this Letter of Transmittal is signed by a
    participant in Euroclear or Clearstream whose name is shown as
    the owner of the notes tendered hereby, the signature must
    correspond with the name shown on the security position listing
    the owner of the notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If any of the notes tendered hereby are owned of record by two
    or more joint owners, all such owners must sign this Letter of
    Transmittal. If any tendered notes are registered in different
    names on several certificates, it will be necessary to complete,
    sign and submit as many copies of this Letter of Transmittal and
    any necessary accompanying documents as there are different
    names in which certificates are held.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this Letter of Transmittal is signed by the holder, and the
    certificates for any principal amount of notes not tendered are
    to be issued (or if any principal amount of notes that is not
    tendered is to be reissued or returned) to or, if tendered by
    book-entry transfer, credited to the account of Euroclear or
    Clearstream of the registered holder, and Exchange Notes
    exchanged for Outstanding Notes in connection with the exchange
    offer are to be issued to the order of the registered holder,
    then the registered holder need not endorse any certificates for
    tendered notes nor provide a separate bond power. In any other
    case (including if this Letter of Transmittal is not signed by
    the registered holder), the registered holder must either
    properly endorse the certificates for notes tendered or transmit
    a separate properly completed bond power with this Letter of
    Transmittal (in either case, executed exactly as the name(s) of
    the registered holder(s) appear(s) on such notes, and, with
    respect to a participant in Euroclear or Clearstream whose name
    appears on a security position listing as the owner of notes,
    exactly as the name(s) of the participant(s) appear(s) on such
    security position listing), with the signature on the
    endorsement or bond power guaranteed by a signature guarantor or
    an eligible guarantor institution, unless such certificates or
    bond powers are executed by an eligible guarantor institution.
    See Instruction&#160;2.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    9
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Endorsements on certificates for notes and signatures on bond
    powers provided in accordance with this Instruction&#160;5 by
    registered holders not executing this Letter of Transmittal must
    be guaranteed by an eligible institution. See Instruction&#160;2.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this Letter of Transmittal or any certificates representing
    notes or bond powers are signed by trustees, executors,
    administrators, guardians, attorneys-in-fact, officers of
    corporations or others acting in a fiduciary or representative
    capacity, such persons should so indicate when signing, and
    proper evidence satisfactory to the exchange agent of their
    authority so to act must be submitted with this Letter of
    Transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    6.&#160;<I>Special Issuance and Special Delivery
    Instructions.</I>&#160;&#160;Tendering holders should indicate
    in the applicable box or boxes the name and address to which
    notes for principal amounts not tendered or Exchange Notes
    exchanged for Outstanding Notes in connection with the exchange
    offer are to be issued or sent, if different from the name and
    address of the holder signing this Letter of Transmittal. In the
    case of issuance in a different name, the
    taxpayer-identification number of the person named must also be
    indicated. If no instructions are given, notes not tendered will
    be returned to the registered holder of the notes tendered. For
    holders of notes tendered by book-entry transfer, notes not
    tendered will be returned by crediting the account at Euroclear
    or Clearstream designated above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    7.&#160;<I>Taxpayer Identification Number and Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9.</FONT></I>&#160;&#160;Each
    tendering holder is required to provide the exchange agent with
    its correct taxpayer identification number, which, in the case
    of a holder who is an individual, is his or her social security
    number. If the exchange agent is not provided with the correct
    taxpayer identification number, the holder may be subject to
    backup withholding and a U.S.$50 penalty imposed by the Internal
    Revenue Service. If withholding results in an over-payment of
    taxes, a refund may be obtained. Certain holders (including,
    among others, all corporations and certain foreign individuals)
    are not subject to these backup withholding and reporting
    requirements. See the enclosed &#147;Guidelines for
    Certification of Taxpayer Identification Number on substitute
    <FONT style="white-space: nowrap">Form&#160;W-9&#148;</FONT>
    for additional instructions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To prevent backup withholding, each holder tendering Outstanding
    Notes must provide such holder&#146;s correct taxpayer
    identification number by completing the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9,</FONT>
    certifying that the taxpayer identification number provided is
    correct (or that such holder is awaiting a taxpayer
    identification number), and that (i)&#160;the holder has not
    been notified by the Internal Revenue Service that such holder
    is subject to backup withholding as a result of failure to
    report all interest or dividends or (ii)&#160;the Internal
    Revenue Service has notified the holder that such holder is no
    longer subject to backup withholding. If the outstanding notes
    are registered in more than one name or are not in the name of
    the actual owner, consult the &#147;Guidelines for Certification
    of Taxpayer Identification Number on Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9&#148;</FONT>
    for information on which tax payer identification number to
    report.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Televisa reserves the right in its sole discretion to take
    whatever steps are necessary to comply with its obligation
    regarding backup withholding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    8.&#160;<I>Transfer Taxes.</I>&#160;&#160;Televisa will pay all
    transfer taxes, if any, required to be paid by Televisa in
    connection with the exchange of the Outstanding Notes for the
    Exchange Notes. If, however, Exchange Notes, or Outstanding
    Notes for principal amounts not tendered or accepted for
    exchange, are to be delivered to, or are to be issued in the
    name of, any person other than the registered holder of the
    Outstanding Notes tendered, or if a transfer tax is imposed for
    any reason other than the exchange of the Outstanding Notes in
    connection with the exchange offer, then the amount of any
    transfer tax (whether imposed on the registered holder or any
    other persons) will be payable by the tendering holder. If
    satisfactory evidence of payment of the transfer taxes or
    exemption therefrom is not submitted with the Letter of
    Transmittal, the amount of such transfer taxes will be billed
    directly to the tendering holder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    9.&#160;<I>Mutilated, Lost, Stolen or Destroyed Outstanding
    Notes.</I>&#160;&#160;Any holder whose Exchange Notes have been
    mutilated, lost, stolen or destroyed should contact the exchange
    agent at the address indicated above for further instructions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    10.&#160;<I>Irregularities.</I>&#160;&#160;All questions as to
    the validity, form, eligibility, time of receipt, acceptance and
    withdrawal of any tenders of notes pursuant to the procedures
    described in the Prospectus and the form and validity of all
    documents will be determined by Televisa, in its sole
    discretion, which determination shall be final and binding on
    all parties. Televisa reserves the absolute right, in its sole
    discretion, to reject any or all tenders of any notes determined
    by it not to be in proper form or the acceptance of which may,
    in the opinion of Televisa&#146;s counsel, be unlawful. Televisa
    also reserves the absolute right, in its sole discretion, to
    waive or amend any of the conditions of the exchange offer or to
    waive any defect or irregularity in the tender of any particular
    notes, whether or not similar defects or irregularities are
    waived in the case of other tenders. Televisa&#146;s
    interpretations of the terms and conditions of the exchange
    offer (including, without limitation, the instructions in this
    Letter of Transmittal) shall be final and binding. No
    alternative, conditional or contingent tenders will be accepted.
    Unless waived, any
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    10
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    irregularities in connection with tenders must be cured within
    such time as Televisa shall determine. None of Televisa, the
    exchange agent or any other person will be under any duty to
    give notification of any defects or irregularities in such
    tenders or will incur any liability to holders for failure to
    give such notification. Tenders of such notes shall not be
    deemed to have been made until such irregularities have been
    cured or waived. Any notes received by the exchange agent that
    are not properly tendered and as to which the irregularities
    have not been cured or waived will be returned by the exchange
    agent to the tendering holders, unless such holders have
    otherwise provided herein, promptly following the expiration
    date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    11.&#160;<I>Requests for Assistance or Additional
    Copies.</I>&#160;&#160;Questions relating to the procedure for
    tendering, as well as requests for assistance or additional
    copies of the Prospectus and this Letter of Transmittal, may be
    directed to the exchange agent at the address and telephone
    number set forth above. Holders may also contact their broker,
    dealer, commercial bank, trust company or other nominee for
    assistance concerning the exchange offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>IMPORTANT: This Letter of Transmittal or a facsimile thereof
    (together with certificates for Outstanding Notes and all other
    required documents) or a notice of guaranteed delivery must be
    received by the exchange agent on or prior to 5:00&#160;p.m.,
    New York City time, on the expiration date.</B>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    11
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="26%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="35%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutterleft -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutterright -->
    <TD width="31%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR style="font-size: 10pt" valign="bottom" align="center">
<TD colspan="7" align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
    <B>PAYER&#146;S NAME: The Bank of New York</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
    <B><FONT style="font-size: 9pt">SUBSTITUTE<BR>
    </FONT><FONT style="font-size: 10pt">Form&#160;</FONT><FONT style="font-size: 18pt"><FONT style="white-space: nowrap">W-9</FONT></FONT></B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD align="left" valign="top" style="border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">Part 1&#160;&#151; PLEASE
    PROVIDE YOUR TIN IN THE BOX AT RIGHT AND CERTIFY BY SIGNING AND
    DATING BELOW.</FONT></B>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD align="center" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
    <BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=156 length=0 --><FONT style="font-size: 10pt">Social
    Security Number(s)<BR>
    OR<BR>
    Employer Identification Number(s)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt">
    <B><FONT style="font-size: 9pt">Department of the Treasury<BR>
    <BR>
    <BR>
    <BR>
    Internal Revenue Service<BR>
    <BR>
    <BR>
    <BR>
    <BR>
    Payor&#146;s Request for Taxpayer<BR>
    Identification Number&#160;(&#147;TIN&#148;)</FONT></B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD align="left" valign="top" style="border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">Part 2&#160;&#151;
    CERTIFICATION&#160;&#151;
    </FONT></B><FONT style="font-size: 10pt">Under Penalties of
    Perjury, I certify that:<BR>
    (1)&#160;The number shown on this form is my correct taxpayer
    identification number (or I am waiting for a number to be issued
    to me), and<BR>
    (2)&#160;I am not subject to backup withholding because: (a) I
    am exempt from backup withholding, (b) I have not been notified
    by the Internal Revenue Service (the &#147;IRS&#148;) that I am
    subject to backup withholding as a result of a failure to report
    all interest or dividends, or (c) the IRS has notified me that I
    am no longer subject to backup withholding.
    </FONT>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">Part&#160;3&#151;<BR>
    <BR>
    </FONT></B><FONT style="font-size: 10pt">Awaiting
    TIN&#160;<FONT face="Wingdings">&#111;</FONT>
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD colspan="7" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
    <B><FONT style="font-size: 10pt">CERTIFICATION
    INSTRUCTIONS&#160;&#151;
    </FONT></B><FONT style="font-size: 10pt">You must cross out item
    (2) above if you have been notified by the IRS that you are
    subject to backup withholding because of underreporting interest
    or dividends on your tax return.  However, if after being
    notified by the IRS that you are subject to backup withholding
    you receive another notification from the IRS stating that you
    are no longer subject to backup withholding, do not cross out
    item (2).
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="4" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><FONT style="font-size: 10pt">SIGNATURE&#160;<FONT style="word-spacing: 200pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=201 iwidth=323 length=0 --></FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt">
    <B><FONT style="font-size: 10pt">DATE&#160;<FONT style="word-spacing: 60pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=208 iwidth=156 length=0 --></FONT></B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD colspan="7" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><FONT style="font-size: 10pt">NAME</FONT></B><FONT style="font-size: 10pt">
    (please
    print)&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=201 iwidth=503 length=0 -->
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>YOU MUST COMPLETE THE FOLLOWING CERTIFICATE IF YOU CHECKED
    THE BOX IN PART 3 OF THE SUBSTITUTE FORM W-9.</B>
</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CERTIFICATION
    OF AWAITING TAXPAYER IDENTIFICATION NUMBER</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    I certify under penalties of perjury that a taxpayer
    identification number has not been issued to me, and either (1)
    I have mailed or delivered an application to receive a taxpayer
    identification number to the appropriate Internal Revenue
    Service Center or Social Security Administration office, or (2)
    I intend to mail or deliver an application in the near future. I
    understand that if I do not provide a taxpayer identification
    number by the time of payment, 31% of all reportable cash
    payments made to me thereafter will be withheld until I provide
    a taxpayer identification number to the payer and that, if I do
    not provide my taxpayer identification number within sixty days,
    such retained amounts shall be remitted to the IRS as backup
    withholding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>SIGNATURE&#160;<FONT style="word-spacing: 200pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=300 -->&#160;DATE&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 --></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NAME</B> (please
    print)&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <B>NOTE:&#160;&#160;</B></TD>
    <TD align="left">
    <B>FAILURE TO COMPLETE AND RETURN THIS FORM W-9 MAY RESULT IN
    BACKUP WITHHOLDING AND A U.S.$50 PENALTY IMPOSED BY THE INTERNAL
    REVENUE SERVICE.  PLEASE REVIEW THE ENCLOSED GUIDELINES FOR
    CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER ON SUBSTITUTE
    FORM W-9 FOR ADDITIONAL DETAILS.</B>
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    12
</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>y36897a1exv99w2.htm
<DESCRIPTION>EX-99.2: FORM OF NOTICE OF GUARANTEED DELIVERY
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;99.2</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Notice of
    Guaranteed Delivery<BR>
    <BR>
    To Tender for Exchange<BR>
    8.49%&#160;Senior Notes due 2037<BR>
    of<BR>
    Grupo Televisa, S.A.B.<BR>
    Regulation&#160;S Notes (Common Code 030017838 and ISIN
    XS0300178380)<BR>
    144A Notes (Common Code 030017960 and ISIN
    XS0300179602)</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B> THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT
    5:00&#160;P.M., NEW YORK CITY TIME,
    ON&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007 (THE &#147;EXPIRATION DATE&#148;), UNLESS EXTENDED BY GRUPO
    TELEVISA, S.A.B. IN ITS SOLE DISCRETION</B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Exchange Agent for the Exchange Offer is:</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">The Bank
    of New York</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <I><FONT style="font-family: 'Times New Roman', Times">By Mail,
    Hand or Overnight Delivery:<BR>
    <BR>
    </FONT></I><FONT style="font-family: 'Times New Roman', Times">THE
    BANK OF NEW YORK,LONDON as Exchange Agent<BR>
    Lower Ground Floor<BR>
    30 Cannon Street<BR>
    London EC4M 6XH<BR>
    Attention: Mick F. Smith<BR>
    Facsimile Transmission:<BR>
    <FONT style="white-space: nowrap">44-207-964-6152</FONT><BR>
    Confirm by Telephone:<BR>
    <FONT style="white-space: nowrap">44-207-964-6512</FONT>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>For any questions regarding this notice of guaranteed
    delivery or for any additional information, you may contact the
    exchange agent by telephone at
    <FONT style="white-space: nowrap">44-207-964-6512,</FONT>
    or by facsimile at
    <FONT style="white-space: nowrap">44-207-964-6152.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Delivery of this notice of guaranteed delivery to an address
    other than as set forth above or transmission of this notice of
    guaranteed delivery via a facsimile transmission to a number
    other than as set forth above will not constitute a valid
    delivery.</B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Registered holders of outstanding 8.49%&#160;Senior Notes due
    2037 (the &#147;Outstanding Notes&#148;) who wish to tender
    their Outstanding Notes in exchange for a like principal amount
    of 8.49%&#160;Senior Exchange Notes due 2037 (the &#147;Exchange
    Notes&#148;) may use this Notice of Guaranteed Delivery or one
    substantially equivalent hereto to tender Outstanding Notes
    pursuant to the Exchange Offer (as defined below) if:
    (1)&#160;their Outstanding Notes are not immediately available
    or (2)&#160;they cannot deliver their Outstanding Notes (or a
    confirmation of book-entry transfer of Outstanding Notes into
    the account of the Exchange Agent at Clearstream Banking,
    Soci&#233;t&#233; Anonyme, Luxembourg, or Clearstream, or
    Euroclear Bank S.A./N.V., or Euroclear), the Letter of
    Transmittal or any other documents required by the Letter of
    Transmittal to the Exchange Agent prior to the Expiration Date
    or (3)&#160;they cannot complete the procedure for book-entry
    transfer on a timely basis. This Notice of Guaranteed Delivery
    may be delivered by hand or sent by facsimile transmission or
    mail to the Exchange Agent. See &#147;The Exchange
    Offer-Procedures for Tendering&#148; in the prospectus
    dated&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007 (the &#147;Prospectus&#148;), which together with the
    related Letter of Transmittal constitutes the &#147;Exchange
    Offer&#148; of Grupo Televisa, S.A.B.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Ladies and Gentlemen:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned hereby tenders the principal amount of
    Outstanding Notes indicated below pursuant to the guaranteed
    delivery procedures set forth in the Prospectus and the Letter
    of Transmittal, upon the terms and subject to the conditions
    contained in the Prospectus and the Letter of Transmittal,
    receipt of which is hereby acknowledged.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    All authority herein conferred or agreed to be conferred by this
    Notice of Guaranteed Delivery shall survive the death or
    incapacity of the undersigned and every obligation of the
    undersigned under this Notice of Guaranteed Delivery shall be
    binding upon the heirs, personal representatives, executors,
    administrators, successors, assigns, trustees in bankruptcy and
    other legal representatives of the undersigned.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PLEASE
    SIGN AND COMPLETE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="49%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="47%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt">
    <FONT style="font-size: 10pt">Signature(s) of Registered
    Holder(s) or <BR>
    Authorized Signatory: <BR>
    <FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=208 iwidth=240 length=0 --><BR>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 --><BR>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 --><BR>
    Name(s) of Registered
    Holder(s):&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=208 iwidth=240 length=81 --><BR>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 --><BR>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 -->Principal
    Amount of Notes Tendered*: <BR>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 --><BR>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 --><BR>
    Certificate No.(s) of Notes (if available):<BR>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=208 iwidth=240 length=0 -->*&#160;Must
    be in minimum denominations of Ps.1,000,000 and integral
    multiples of Ps.100,000 in excess thereof
    </FONT>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -0pt; margin-left 0pt;">
<FONT style="font-size: 10pt">Date:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
&#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=0 --><BR>Address:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=0 --><BR><DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=240 length=0 --><BR>Area Code and Telephone No.:<BR><DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=240 length=0 --><BR>If Notes will be delivered by book-entry transfer, provide information below:<BR>Name of Tendering Institution:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=0 --><BR>Account No. with Euroclear or Clearstream:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- callerid=
208 iwidth=240 length=0 --><BR><DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=240 length=0 --><BR>Transaction Code Number:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173; &#173</U></FONT><!-- WS --><!-- callerid=208 iwidth=240 length=0 --><BR><DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=240 length=0 --></FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 0pt; border-right: 1px solid #000000; padding-right: 0pt; border-bottom: 1px solid #000000; padding-bottom: 0pt; border-left: 1px solid #000000; padding-left: 0pt"><!-- Begin box 1 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This notice of guaranteed delivery must be signed by the
    registered holder(s) exactly as their name(s) appear(s) on
    certificate(s) for notes or on a security position listing as
    the owner of notes, or by person(s) authorized to become
    registered holder(s) by endorsements and documents transmitted
    with this notice of guaranteed delivery. If signature is by a
    trustee, executor, administrator, guardian, attorney-in-fact,
    officer or other person acting in a fiduciary or representative
    capacity, such person must provide the following information:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Please print name(s) and address(es)
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name(s):&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Capacity:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Address(es):&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    2
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>DO NOT SEND NOTES&#160;WITH THIS FORM. NOTES&#160;SHOULD BE
    SENT TO THE EXCHANGE AGENT TOGETHER WITH A PROPERLY COMPLETED
    AND DULY EXECUTED LETTER OF TRANSMITTAL OR PROPERLY TRANSMITTED
    AGENT&#146;S MESSAGE.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    GUARANTEE BELOW MUST BE COMPLETED</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">GUARANTEE<BR>
    (Not To Be Used for Signature Guarantee)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned, an &#147;eligible guarantor institution&#148;
    within the meaning of
    <FONT style="white-space: nowrap">Rule&#160;17Ad-15</FONT>
    promulgated under the Securities Exchange Act of 1934, as
    amended, hereby guarantees that the notes to be tendered hereby
    are in proper form for transfer (pursuant to the procedures set
    forth in the prospectus under &#147;The Exchange
    Offer&#160;&#151; Guaranteed Delivery Procedures&#148;), and
    that the exchange agent will receive (a)&#160;such notes, or a
    book-entry confirmation of the transfer of such notes into the
    exchange agent&#146;s account at Euroclear or Clearstream and
    (b)&#160;a properly completed and duly executed letter of
    transmittal (or facsimile thereof) with any required signature
    guarantees and any other documents required by the letter of
    transmittal, or a properly transmitted agent&#146;s message,
    within three New York Stock Exchange, Inc. trading days after
    the date of execution hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The eligible guarantor institution that completes this form must
    communicate the guarantee to the exchange agent and must deliver
    the letter of transmittal, or a properly transmitted
    agent&#146;s message, and notes, or a book-entry confirmation in
    the case of a book-entry transfer, to the exchange agent within
    the time period described above. Failure to do so could result
    in a financial loss to such eligible guarantor institution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name of
    Firm:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Authorized
    Signature:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Title:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Address:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Zip Code)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Area Code and Telephone
    Number:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dated:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=120 -->
</DIV>
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    3
</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>5
<FILENAME>y36897a1exv99w3.htm
<DESCRIPTION>EX-99.3: FORM OF LETTER TO REGISTERED HOLDERS
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;99.3</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Instructions&#160;To
    Registered Holder And/Or<BR>
    Book-Entry Transfer Facility Participant<BR>
    From Beneficial Owner<BR>
    of<BR>
    Grupo Televisa, S.A.B.<BR>
    8.49%&#160;Senior Notes due 2037<BR>
    Regulation&#160;S Notes (Common Code 030017838 and ISIN
    XS0300178380)<BR>
    144A Notes (Common Code 030017960 and ISIN
    XS0300179602)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>To Registered Holders and/or Participant of the Book-Entry
    Transfer Facility:</I>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned acknowledges receipt of the prospectus,
    dated&#160;&#160;&#160;&#160;, 2005, of Grupo Televisa, S.A.B.
    and accompanying letter of transmittal, that together constitute
    Grupo Televisa, S.A.B.&#146;s offer to exchange Ps.1,000,000
    principal amount of 8.49%&#160;Senior Exchange Notes due 2037,
    which have been registered under the Securities Act of 1933, as
    amended, of Grupo Televisa, S.A.B. for each Ps.1,000,000
    principal amount of outstanding 8.49%&#160;Senior Notes due
    2037, and integral multiples of Ps.100,000 in excess thereof, of
    Grupo Televisa, S.A.B., of which Ps.4,500,000,000 aggregate
    principal amount is outstanding.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>This will instruct you, the registered holder
    <FONT style="white-space: nowrap">and/or</FONT>
    book-entry transfer facility participant, as to the action to be
    taken by you relating to the exchange offer with respect to the
    outstanding notes held by you for the account of the
    undersigned.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The aggregate face amount of the outstanding notes held by you
    for the account of the undersigned is <B>(fill in amount)</B>:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Ps.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;of
    8.4925%&#160;Senior Notes due 2037.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to the exchange offer, the undersigned hereby
    instructs you <B>(check appropriate box)</B>:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="Wingdings">&#111;</FONT>&#160;To TENDER ALL of the
    outstanding notes held by you for the account of the undersigned.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="Wingdings">&#111;</FONT>&#160;
</TD>
    <TD align="left">
    To TENDER the following outstanding notes held by you for the
    account of the undersigned <B>(insert principal amount of
    outstanding notes to be tendered (if any))</B>:
    Ps.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;of
    8.49%&#160;Senior Notes due 2037.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="Wingdings">&#111;</FONT>&#160;NOT to TENDER any
    outstanding notes held by you for the account of the undersigned.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If the undersigned instructs you to tender outstanding notes
    held by you for the account of the undersigned, it is understood
    that you are authorized to make, on behalf of the undersigned
    (and the undersigned, by its signature below, hereby makes to
    you), the representations and warranties contained in the letter
    of transmittal that are to be made with respect to the
    undersigned as a beneficial owner, including but not limited to
    the representations, that (1)&#160;the exchange notes acquired
    pursuant to the exchange offer are being acquired in the
    ordinary course of business of the undersigned, (2)&#160;the
    undersigned is not engaging in and does not intend to engage in
    a distribution of the exchange notes, (3)&#160;the undersigned
    does not have an arrangement or understanding with any person to
    participate in the distribution of such exchange notes,
    (4)&#160;the undersigned is not an &#147;affiliate&#148; of
    Grupo Televisa, S.A.B. or the guarantors within the meaning of
    Rule&#160;405 under the Securities Act of 1933, as amended, and
    (5)&#160;the undersigned is not acting on behalf of any person
    who could not truthfully make the foregoing representations. If
    any Holder or any other person, including the undersigned, is an
    &#147;affiliate,&#148; as defined under Rule&#160;405 of the
    Securities Act, of us, or is engaged in or intends to engage in
    or has an arrangement or understanding with any person to
    participate in a distribution of the notes to be acquired in the
    Exchange Offer, the Holder or any other person, including the
    undersigned: (i)&#160;may not rely on applicable interpretations
    of the staff of the SEC; and (ii)&#160;must comply with the
    registration and prospectus delivery requirements of the
    Securities Act in connection with any resale transaction. If the
    undersigned is a broker-dealer that will receive exchange notes
    for its own account in exchange for outstanding notes that were
    acquired as a result of market-making activities or other
    trading activities, it acknowledges that it will deliver a
    prospectus meeting the requirements of the Securities Act in
    connection with any resale of such exchange notes. By
    acknowledging that it will deliver and by delivering a
    prospectus meeting the requirements of the Securities Act in
    connection with any resale of such exchange notes, the
    undersigned is not deemed to admit that it is an
    &#147;underwriter&#148; within the meaning of the Securities
    Act. If the undersigned is a person in the
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    United&#160;Kingdom, the undersigned represents that its
    ordinary activities involve it in acquiring, holding, managing
    or disposing of investments (as principal or agent) for the
    purposes of its business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned acknowledges that if an executed copy of this
    letter of transmittal is returned, the entire principal amount
    of outstanding notes held for the undersigned&#146;s account
    will be tendered unless otherwise specified above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned hereby represents and warrants that the
    undersigned (1)&#160;owns the notes tendered and is entitled to
    tender such notes, and (2)&#160;has full power and authority to
    tender, sell, exchange, assign and transfer the outstanding
    notes and to acquire exchange notes issuable upon the exchange
    of such tendered notes, and that, when the same are accepted for
    exchange, Grupo&#160;Televisa, S.A.B. will acquire good and
    marketable title to the tendered notes, free and clear of all
    liens, restrictions, charges and encumbrances and not subject to
    any adverse claim or right or restriction of any kind.
</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGN
    HERE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name of beneficial owner(s) (please
    print):&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Signature(s):&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Address:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 16pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Telephone
    Number:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Taxpayer Identification Number or Social Security
    Number:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Date:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>&#173;
    &#173</U></FONT><!-- callerid=128 iwidth=480 length=0 -->
</DIV>
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    2
</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>6
<FILENAME>y36897a1exv99w4.htm
<DESCRIPTION>EX-99.4: FORM OF LETTER TO BROKERS, DEALERS
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;99.4</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 14pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Grupo
    Televisa, S.A.B.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Tender
    for Exchange of</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">8.49%&#160;Senior
    Notes due 2037 for</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">8.49%&#160;Senior
    Exchange Notes due 2037<BR>
    Regulation&#160;S Notes (Common Code 030017838 and ISIN
    XS0300178380)<BR>
    144A Notes (Common Code 030017960 and ISIN
    XS0300179602)</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B> THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT
    5:00&#160;P.M., NEW YORK CITY TIME,
    ON&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007 (THE &#147;EXPIRATION DATE&#148;), UNLESS EXTENDED BY GRUPO
    TELEVISA, S.A.B. IN ITS SOLE DISCRETION.</B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>To Brokers, Dealers, Commercial Banks, Trust&#160;Companies
    and Other Nominees:</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Enclosed for your consideration is the material listed below
    relating to the offer by Grupo Televisa, S.A.B., to exchange
    Ps.1,000,000 principal amount of 8.49%&#160;Senior Exchange
    Notes due 2037, which have been registered under the Securities
    Act of 1933, as amended, of Grupo Televisa, S.A.B., for each
    Ps.$1,000,000 principal amount of 8.49%&#160;Senior Notes due
    2037 of Grupo Televisa, S.A.B., of which Ps.4,500,000,000
    aggregate principal amount is outstanding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are asking you to contact your clients for whom you hold
    outstanding notes registered in your name or in the name of your
    nominee. In addition, we ask you to contact your clients who, to
    your knowledge, hold outstanding notes registered in their own
    names.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Enclosed herewith are copies of the following documents for
    forwarding to your clients:
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    1.&#160;The prospectus
    dated&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007;
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    2.&#160;A letter of transmittal for your use and for the
    information of your clients, together with <I>Guidelines for
    Certification of Taxpayer Identification Number on Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    </I>providing information relating to backup U.S.&#160;federal
    income tax withholding;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    3.&#160;A form of notice of guaranteed delivery to be used to
    accept the exchange offer if certificates and all other required
    documents are not immediately available or if time will not
    permit all required documents to reach the exchange agent on or
    prior to the expiration date or if the procedure for book-entry
    transfer (including a properly transmitted agent&#146;s message)
    cannot be completed on a timely basis;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    4.&#160;Instructions to a registered holder from the beneficial
    owner for obtaining your clients&#146; instructions with regard
    to the exchange offer;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    5.&#160;A form of letter which may be sent to your clients for
    whose account you hold outstanding notes in your name or in the
    name of your nominee, to accompany the instruction form referred
    to above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>WE URGE YOU TO CONTACT YOUR CLIENTS AS PROMPTLY AS POSSIBLE
    IN ORDER TO OBTAIN THEIR INSTRUCTIONS.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Grupo Televisa, S.A.B. will not pay any fees or commissions to
    any broker, dealer or other person (other than the exchange
    agent as described in the prospectus) in connection with the
    solicitation of tenders of outstanding notes pursuant to the
    exchange offer. You will, however, be reimbursed by Grupo
    Televisa, S.A.B. for customary mailing and handling expenses
    incurred by you in forwarding any of the enclosed materials to
    your clients. Grupo Televisa, S.A.B. will pay or cause to be
    paid any transfer taxes applicable to the tender of outstanding
    notes to it or its order, except as otherwise provided in the
    prospectus and the letter of transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Please refer to &#147;The Exchange Offer&#160;&#151; Procedures
    for Tendering&#148; in the prospectus for a description of the
    procedures which must be followed to tender notes in the
    exchange offer.
</DIV>

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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any inquiries you may have with respect to the exchange offer
    may be directed to the exchange agent at
    <FONT style="white-space: nowrap">44-207-964-6512</FONT>
    or at the address set forth on the cover of the letter of
    transmittal. Additional copies of the enclosed material may be
    obtained from the exchange agent.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 45%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Very truly yours,
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 45%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Grupo Televisa, S.A.B.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NOTHING CONTAINED HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL
    CONSTITUTE YOU OR ANY OTHER PERSON, THE AGENT OF THE COMPANY OR
    THE EXCHANGE AGENT, OR AUTHORIZE YOU OR ANY OTHER PERSON TO USE
    ANY DOCUMENT OR MAKE ANY STATEMENT ON BEHALF OF ANY OF THEM IN
    CONNECTION WITH THE EXCHANGE OFFER OTHER THAN THE DOCUMENTS
    ENCLOSED HEREWITH AND THE STATEMENTS CONTAINED THEREIN.</B>
</DIV>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>7
<FILENAME>y36897a1exv99w5.htm
<DESCRIPTION>EX-99.5: FORM OF LETTER TO CLIENTS
<TEXT>
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<HEAD>
<TITLE>EX-99.5</TITLE>
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<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;99.5</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 14pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Grupo
    Televisa, S.A.B.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Tender
    for Exchange of</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">8.49%&#160;Senior
    Notes due 2037 for</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">8.49%&#160;Senior
    Exchange Notes due 2037<BR>
    Regulation&#160;S Notes (Common Code 030017838 and ISIN
    XS0300178380)<BR>
    144A Notes (Common Code 030017960 and ISIN
    XS0300179602)</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B> THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT
    5:00&#160;P.M., NEW YORK CITY TIME,
    ON&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007 (THE &#147;EXPIRATION DATE&#148;), UNLESS EXTENDED BY GRUPO
    TELEVISA, S.A.B. IN ITS SOLE DISCRETION</B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>To Our Clients:</I>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Enclosed for your consideration is a prospectus,
    dated&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007, of Grupo Televisa, S.A.B. and a related letter of
    transmittal, that together constitute Grupo Televisa,
    S.A.B.&#146;s offer to exchange Ps.1,000,000 principal amount
    8.49%&#160;Senior Exchange Notes due 2037, which have been
    registered under the Securities Act of 1933, as amended, of
    Grupo Televisa, S.A., for each Ps.1,000,000 principal amount of
    outstanding 8.49%&#160;Senior Notes due 2037, of Grupo Televisa,
    S.A.B., of which Ps.4,500,000,000 aggregate principal amount is
    outstanding.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The materials relating to the exchange offer are being forwarded
    to you as the beneficial owner of outstanding notes carried by
    us for your account or benefit but not registered in your name.
    A tender of any outstanding notes may only be made by us as the
    registered holder and pursuant to your instructions. Therefore,
    we urge beneficial owners of outstanding notes registered in the
    name of a broker, dealer, commercial bank, trust company or any
    other nominee to contact such registered holder promptly if they
    wish to tender outstanding notes in the exchange offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Accordingly, we request instructions as to whether you wish us
    to tender any or all such outstanding notes held by us for your
    account or benefit pursuant to the terms and conditions set
    forth in the prospectus and the letter of transmittal. We urge
    you to read carefully the prospectus and letter of transmittal
    and other material provided herewith before instructing us to
    tender your outstanding notes. We also request that you confirm
    with such instruction form that we may on your behalf make the
    representations contained in the Letter of Transmittal. <B>The
    letter of transmittal is furnished to you for your information
    only and cannot be used by you to exchange outstanding notes
    held by us for your account or benefit.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Your instructions to us should be forwarded as promptly as
    possible in order to permit us to tender notes on your behalf in
    accordance with the provisions of the exchange offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Your attention is directed to the following:
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    1.&#160;The exchange offer will expire at 5:00&#160;p.m., New
    York City time,
    on&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007, unless extended by Grupo Televisa, S.A.B. in its sole
    discretion. Tendered outstanding notes may be withdrawn, subject
    to the procedures described in the prospectus, at any time prior
    to 5:00&#160;p.m.&#160;New York City time, on the expiration
    date.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    2.&#160;The outstanding notes will be exchanged for the exchange
    notes at the rate of Ps.1,000,000 principal amount of exchange
    notes for each Ps.1,000,000 principal amount of outstanding
    notes validly tendered and not validly withdrawn prior to the
    expiration date. The exchange notes will bear interest from the
    most recent interest payment date to which interest has been
    paid on the notes or, if no interest has been paid, from
    May&#160;9, 2007. The form and terms of the exchange notes are
    identical in all material respects to the form and terms of the
    outstanding notes, except that the exchange notes have been
    registered under the Securities Act of 1933, as amended.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    3.&#160;Notwithstanding any other term of the exchange offer,
    Grupo Televisa, S.A.B. may terminate or amend the exchange offer
    as provided in the prospectus and will not be required to accept
    for exchange, or exchange any exchange notes for, any
    outstanding notes not accepted for exchange prior to such
    termination.
</DIV>

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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    4.&#160;Any transfer taxes applicable to the exchange of the
    outstanding notes pursuant to the exchange offer will be paid by
    Grupo Televisa, S.A.B., except as otherwise provided in the
    prospectus and in Instruction&#160;8 of the letter of
    transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    5.&#160;Based on an interpretation of the Securities Act by the
    staff of the Securities and Exchange Commission, Grupo Televisa,
    S.A.B. believes that exchange notes issued pursuant to the
    exchange offer in exchange for outstanding notes may be offered
    for resale, resold and otherwise transferred by holders thereof
    without compliance with the registration and prospectus delivery
    provisions of the Securities Act, provided that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;the holder is acquiring exchange notes in its ordinary
    course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;the holder is not engaging in and does intend to engage
    in a distribution of the exchange notes;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (c)&#160;the holder is not participating, and has no arrangement
    or understanding with any person to participate, in the
    distribution of the exchange notes;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (d)&#160;the holder is not an &#147;affiliate&#148; of Grupo
    Televisa, S.A.B. or the guarantors, as such term is defined
    under Rule&#160;405 of the Securities Act;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (e)&#160;the holder is not acting on behalf of any person who
    could not truthfully make these statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To participate in the exchange offer, holders must represent to
    Grupo Televisa, S.A.B. that each of these statements is true. If
    the holder is a broker-dealer that will receive exchange notes
    for its own account in exchange for outstanding notes that were
    acquired as a result of market-making activities or other
    trading activities, it must acknowledge that it will deliver a
    prospectus meeting the requirements of the Securities Act in
    connection with any resale of such exchange notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you wish to have us tender any or all of your outstanding
    notes, please so instruct us by completing and returning to us
    the form entitled &#147;Instructions&#160;To Registered Holder
    And/Or Book-Entry Transfer Facility Participant From Beneficial
    Owner&#148; attached hereto. An envelope to return your
    instructions is enclosed. If you authorize a tender of your
    outstanding notes, the entire principal amount of outstanding
    notes held for your account will be tendered unless otherwise
    specified on the instruction form. Your instructions should be
    forwarded to us with ample time to permit us to submit a tender
    on your behalf by the expiration date.
</DIV>

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    <BR>
    2
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