<SUBMISSION>
<ACCESSION-NUMBER>0000950134-07-006232
<TYPE>SC TO-I/A
<PUBLIC-DOCUMENT-COUNT>5
<FILING-DATE>20070320
<DATE-OF-FILING-DATE-CHANGE>20070320
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>LIBERTY MEDIA CORP
<CIK>0001355096
<ASSIGNED-SIC>4841
<IRS-NUMBER>841288730
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
<ACT>34
<FILE-NUMBER>005-81951
<FILM-NUMBER>07706648
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>12300 LIBERTY BOULEVARD
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
<PHONE>7208755400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>12300 LIBERTY BOULEVARD
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>Liberty Media Holding CORP
<DATE-CHANGED>20060303
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>LIBERTY MEDIA CORP
<CIK>0001355096
<ASSIGNED-SIC>4841
<IRS-NUMBER>841288730
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>12300 LIBERTY BOULEVARD
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
<PHONE>7208755400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>12300 LIBERTY BOULEVARD
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>Liberty Media Holding CORP
<DATE-CHANGED>20060303
</FORMER-COMPANY>
</FILED-BY>
<DOCUMENT>
<TYPE>SC TO-I/A
<SEQUENCE>1
<FILENAME>d44735a1sctoviza.htm
<DESCRIPTION>AMENDMENT TO SCHEDULE TO - ISSUER
<TEXT>
<HTML>
<HEAD>
<TITLE>sctoviza</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 style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Amendment No.&nbsp;1<BR>
to<BR>
SCHEDULE TO</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>LIBERTY MEDIA CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Name of Subject Company (Issuer))</DIV>


<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>LIBERTY MEDIA CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Name of Filing Person (Offeror/Issuer))</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>LIBERTY
CAPITAL SERIES A COMMON STOCK, PAR VALUE $0.01 PER SHARE</B><BR>
(Title of Class of Securities)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>53071M302
(SERIES A COMMON STOCK)</B><BR>
(CUSIP Number of Class of Securities)
</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="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top" nowrap><B>Charles Y. Tanabe<BR>
Executive Vice President and Secretary<BR>
LIBERTY MEDIA CORPORATION<BR>
12300 Liberty Boulevard <BR>
Englewood, Colorado 80112<BR>
(720)&nbsp;875-5400</B><BR>
<I>(Name, address, and telephone numbers of person authorized to receive<BR>
notices and communications on behalf of filing persons)</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><I>Copy to:</I></B><BR>
<B>Robert W. Murray Jr.<BR>
Baker Botts L.L.P.<BR>
30 Rockefeller Plaza<BR>
New York, New York 10112-4498<BR>
(212)&nbsp;408-2500</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF FILING FEE</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="1%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="8" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left"><B>Transaction Valuation*</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount of Filing Fee**</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
              <TD style="border-top: 2px solid #000000"><DIV style="margin-left:30px; text-indent:-15px"><B>$999,993,500</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" style="border-top: 2px solid #000000" colspan="2"><B>$30,699.80</B></TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="8" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated for the purposes of calculating the filing fee only, this amount is based on the purchase of 8,849,500
shares of Liberty Capital Series&nbsp;A common stock at the maximum tender offer price of $113.00 per share.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">**</TD>
    <TD>&nbsp;</TD>
    <TD>The amount of the filing fee, calculated in accordance with Rule&nbsp;0-11 under the Securities Exchange Act of 1934,
as amended, equals $30.70&nbsp;per million of the value of the transaction.</TD>
</TR>

</TABLE>



<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#120;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Check the box if any part of the fee is offset as provided by Rule&nbsp;0-11(a)(2) and identify the filing with
which the offsetting fee was previously paid. Identify the previous filing by registration statement number, of the
Form or Schedule and the date of its filing.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="92%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="59%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amount Previously Paid:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$30,699.80</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form or Registration No.:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Schedule&nbsp;TO
</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Filing Party:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Liberty Media Corporation
</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date Filed:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">March&nbsp;7, 2007</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate boxes below to designate any transactions to which the statement relates:
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>third-party tender offer subject to Rule&nbsp;14d-1.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#120;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>issuer tender offer subject to Rule&nbsp;13e-4.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>going-private transaction subject to Rule&nbsp;13e-3.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>amendment to Schedule&nbsp;13D under Rule&nbsp;13d-2.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the following box if the filing is a final amendment reporting the results of the tender offer: <FONT face="Wingdings">&#111;</FONT>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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

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<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="left" style="font-size: 10pt; margin-top: 6pt">This Amendment No.&nbsp;1 (this &#147;Amendment&#148;) amends and supplements the Issuer Tender Offer Statement on
Schedule&nbsp;TO (as amended and supplemented from time to time, the &#147;Issuer Tender Offer Statement&#148;)
initially filed on March&nbsp;7, 2007, by Liberty Media Corporation, a Delaware corporation (&#147;Liberty
Media&#148;), in connection with its offer to purchase up to 8,849,500 shares of its Liberty Capital
Series&nbsp;A common stock, par value $0.01 per share, at a price not greater than $113.00 nor less than
$105.00 per share, net to the seller in cash, less any applicable withholding taxes and without
interest, upon the terms and subject to the conditions set forth in the offer to purchase, dated
March&nbsp;7, 2007 (the &#147;Offer to Purchase&#148;), as amended supplemented, and the related letter of
transmittal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Amendment is being filed for the following purposes: (i)&nbsp;to announce that Liberty Media has
revised the tender offer so that Liberty Media is only seeking to purchase shares of its Liberty
Capital Series&nbsp;A common stock pursuant to the tender offer;
Liberty will no longer seek to purchase
shares of its Liberty Capital Series&nbsp;B common stock pursuant to
the tender offer, (ii)&nbsp;to amend and
restate the Offer to Purchase; and (iii)&nbsp;to amend and restate
the form of letter of transmittal and notice of guaranteed delivery for
use in the tender offer.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;12. Exhibits.</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="4%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B> </B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(1)(i)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Offer to Purchase dated
March&nbsp;7, 2007, as amended and restated as of March&nbsp;20, 2007.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(1)(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter of Transmittal, as amended
and restated as of March&nbsp;20, 2007 (including
Guidelines for Certification of Taxpayer Identification Number on Substitute Form
W-9).</TD>
</TR>
<TR valign="bottom">

<TD nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(1)(iii)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of Guaranteed Delivery</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(5)(v)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated March&nbsp;20, 2007</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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<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>SIGNATURE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">After due inquiry and to the best of my knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.
</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>LIBERTY MEDIA CORPORATION</B><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">/s/
Charles
Y. Tanabe</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Charles Y. Tanabe&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Executive Vice President, General Counsel and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Date:
March&nbsp;20, 2007
</DIV>



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

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<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>EXHIBIT INDEX</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="8%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B> </B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(1)(i)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Offer to Purchase dated March&nbsp;7, 2007, as amended and restated as of March&nbsp;20, 2007.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(1)(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter of Transmittal, as amended
and restated as of March&nbsp;20, 2007 (including
Guidelines for Certification of Taxpayer Identification Number on Substitute Form
W-9).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(1)(iii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of Guaranteed Delivery.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(2)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not Applicable.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(3)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not Applicable.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(4)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not Applicable.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(5)(i)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter from Information Agent to Brokers.*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(5)(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter from Brokers to Clients.*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(5)(iii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Letter to Liberty Media 401(k) Savings Plan Participants.*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(5)(iv)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Summary Advertisement.*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(5)(v)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated March&nbsp;20, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(b)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not Applicable.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Liberty Media Corporation 2000 Incentive Plan (As Amended and Restated Effective
February&nbsp;22, 2007) (the &#147;2000 Incentive Plan&#148;) (incorporated by reference to Exhibit
10.16 to the Registrant&#146;s Annual Report on 10-K for the year ending December&nbsp;31, 2006
as filed March&nbsp;1, 2007 (the &#147;2006 10-K&#148;).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(2)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Liberty Media Corporation 2007 Incentive Plan (the &#147;2007 Incentive Plan&#148;)
(incorporated by reference to Exhibit&nbsp;10.17 to the 2006 10-K.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(3)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Non-Qualified Stock Option Agreement under the 2000 Incentive Plan and the
2007 Incentive Plan &#091;for certain designated award recipients&#093; (incorporated by
reference to Exhibit&nbsp;10.2 to the Quarterly Report on Form&nbsp;10-Q of Liberty Media LLC
(&#147;Old Liberty&#148;) for the quarter ended March&nbsp;31, 2006 as filed on May&nbsp;8, 2006 (the
&#147;Old Liberty 10-Q&#148;)).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(4)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Non-Qualified Stock Option Agreement under the 2000 Incentive Plan and the
2007 Incentive Plan &#091;for all other award recipients&#093; (incorporated by reference to
Exhibit&nbsp;10.3 of the Old Liberty 10-Q).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(5)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Award Agreement under the 2000 Incentive Plan and the 2007
Incentive Plan &#091;for certain designated award recipients&#093; (incorporated by reference
to Exhibit&nbsp;10.4 to the Old Liberty 10-Q).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(6)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Appreciation Rights Agreement under the 2000 Incentive Plan and the
2007 Incentive Plan (incorporated by reference to Exhibit&nbsp;10.18 to the Annual Report
on Form&nbsp;10-K of Old Liberty for the year ended December&nbsp;31, 2004 as filed on March
15, 2005 (the &#147;Old Liberty 2005 10-K&#148;)).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(7)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Liberty Media Corporation 2002 Nonemployee Director Incentive Plan (As Amended and
Restated Effective May&nbsp;9, 2006) (the &#147;Director Plan&#148;) (incorporated by reference to
Exhibit&nbsp;10.2 to the Company&#146;s Current Report on Form&nbsp;8-K, filed on May&nbsp;9, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(8)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Appreciation Rights Agreement under the Director Plan (incorporated by
reference to Exhibit&nbsp;10.21 to the Old Liberty 2005 10-K).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(9)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call Agreement, dated as of February&nbsp;9, 1998 (the &#147;Call Agreement&#148;), between Liberty
(as successor of Old Liberty which was the assignee of Tele-Communications, Inc.) and
the Malone Group (incorporated by reference to Exhibit&nbsp;7(n) to Mr.&nbsp;Malone&#146;s Amendment
No.&nbsp;8 to Schedule&nbsp;13D filed in respect of Tele-Communications, Inc. on February&nbsp;19,
1998).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(10)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter, dated as of March&nbsp;5, 1999, from Tele-Communications, Inc. and Old Liberty
addressed to
Mr.&nbsp;Malone and Leslie Malone relating to the Call Agreement (incorporated by
reference to Exhibit&nbsp;7(f) to Mr.&nbsp;Malone&#146;s Schedule&nbsp;13D filed in respect of AT&#038;T Corp.
on March&nbsp;30, 1999).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(g)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not Applicable.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(h)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not Applicable.</TD>
</TR>
<!-- End Table Body -->
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<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
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    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed on Schedule&nbsp;TO on March&nbsp;7, 2007.</TD>
</TR>

</TABLE>




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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(1)(I)
<SEQUENCE>2
<FILENAME>d44735a1exv99wxayx1yxiy.htm
<DESCRIPTION>OFFER TO PURCHASE, AS AMENDED AND RESTATED
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99wxayx1yxiy</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<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>Exhibit (a)(1)(i)</B>
</DIV>

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

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 16pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

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

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

</FONT></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
    PURCHASE FOR CASH<BR>
    UP TO 8,849,500 SHARES&#160;OF ITS<BR>
    LIBERTY CAPITAL SERIES&#160;A COMMON STOCK,<BR>
    AT A PURCHASE PRICE NOT GREATER THAN $113.00 OR LESS<BR>
    THAN $105.00 PER SHARE</FONT></B>
</DIV>

<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: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS<BR>
    EXPIRE AT 5:00 PM, NEW YORK CITY TIME, ON APRIL&#160;5, 2007,<BR>
    UNLESS THE TENDER OFFER IS EXTENDED.</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">
    Liberty Media Corporation, a Delaware corporation, is offering
    to purchase, for cash, up to 8,849,500&#160;shares of its
    Liberty Capital Series&#160;A common stock, par value
    $0.01&#160;per share, which we refer to as &#147;LCAPA&#148;,
    from its stockholders, at a price not greater than $113.00 or
    less than $105.00&#160;per share, upon the terms and subject to
    the conditions described in this Offer to Purchase and the
    Letter of Transmittal (which together, as they may be amended
    and supplemented from time to time, constitute the &#147;tender
    offer&#148;). In this Offer to Purchase, we refer to the shares
    of LCAPA as &#147;LCAPA shares&#148; or the &#147;Shares&#148;.
</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">
    On the terms and subject to the conditions of the tender offer,
    we will determine the single per share price, not greater than
    $113.00 or less than $105.00&#160;per Share, net to the seller
    in cash, less any applicable withholding taxes and without
    interest, that we will pay for Shares properly tendered and not
    properly withdrawn in the tender offer, taking into account the
    total number of Shares so tendered and the prices specified by
    the tendering stockholders. We will select the lowest purchase
    price that will allow us to purchase 8,849,500&#160;Shares
    pursuant to the tender offer, or such fewer number of Shares as
    are properly tendered and not properly withdrawn. We refer to
    the purchase price we select within the range indicated for our
    Shares as the &#147;purchase price&#148;.
</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 TENDER OFFER IS NOT CONDITIONED ON ANY MINIMUM NUMBER OF
    SHARES&#160;BEING TENDERED. THE TENDER OFFER IS, HOWEVER,
    SUBJECT TO CERTAIN CONDITIONS. SEE SECTION&#160;7.
</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 Shares that we acquire in the tender offer will be acquired
    at the purchase price, regardless of whether the stockholder
    tendered at a lower price. We will purchase only Shares properly
    tendered at prices at or below the purchase price we determine
    and not properly withdrawn prior to the expiration date of the
    tender offer. However because of the &#147;odd lot&#148;
    priority, proration and conditional tender provisions described
    in this offer to purchase, we may not purchase all of the Shares
    tendered even if stockholders tendered at or below the purchase
    price, if more than the number of Shares that we seek are
    properly tendered. We reserve the right, in our sole discretion,
    to purchase more than 8,849,500&#160;Shares pursuant to the
    tender offer, subject to applicable law. We will not purchase
    Shares tendered at prices greater than the purchase price.
    Shares tendered but not purchased in the tender offer will be
    returned to the tendering stockholders at our expense promptly
    after the expiration of the tender offer.
</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 LCAPA shares trade on the Nasdaq Global Select Market under
    the symbol &#147;LCAPA&#148;. On February&#160;27, 2007, the
    last full trading day before the initial public announcement of
    the tender offer, the closing sale price on the Nasdaq Global
    Select Market for the LCAPA shares was $103.71. <B>Stockholders
    are urged to obtain current market quotations for the
    Shares.</B> See Section&#160;8.
</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">
    OUR BOARD OF DIRECTORS HAS APPROVED THE TENDER OFFER. HOWEVER,
    NONE OF LIBERTY MEDIA, ITS BOARD OF DIRECTORS, THE DEPOSITARY OR
    THE INFORMATION AGENT MAKES ANY RECOMMENDATION TO YOU AS TO
    WHETHER YOU SHOULD TENDER OR REFRAIN FROM TENDERING YOUR SHARES.
    YOU MUST MAKE YOUR OWN DECISION AS TO WHETHER TO TENDER YOUR
    SHARES&#160;AND, IF SO, HOW MANY SHARES&#160;TO TENDER AND THE
    PRICE AT WHICH YOU WILL TENDER THEM. IN DOING SO, YOU SHOULD
    READ CAREFULLY THE INFORMATION IN THIS OFFER TO PURCHASE AND IN
    THE RELATED LETTER OF TRANSMITTAL, INCLUDING OUR REASONS FOR
    MAKING THE TENDER OFFER.
</DIV>

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

</FONT></DIV>

<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">
    March&#160;7, 2007, as amended and restated March&#160;20, 2007
</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"><A HREF="#tocpage">Table of Contents</A></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">IMPORTANT</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">
    If you wish to tender all or any part of your Shares pursuant to
    the tender offer, then prior to the expiration date of the
    tender offer, which is 5:00&#160;p.m., New York City time, on
    April&#160;5, 2007 or such later time to which we may extend the
    tender offer, you must either:
</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;(a)&#160;complete and sign the letter of transmittal,
    or a facsimile of it, according to the instructions in the
    letter of transmittal and mail or deliver it, together with any
    required signature guarantee and any other required documents,
    to Computershare Shareholder Services, Inc., the depositary for
    the tender offer, and mail or deliver the certificates for your
    tendered Shares to the depositary together with any other
    documents required by the letter of transmittal or
    (b)&#160;tender your Shares according to the procedure for
    book-entry transfer described in Section&#160;3;&#160;or
</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;request a broker, dealer, commercial bank, trust
    company or other nominee to effect the transaction for you.
</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 your Shares are registered in the name of a broker, dealer,
    commercial bank, trust company or other nominee, you should
    contact that person promptly if you desire to tender your Shares
    in the tender offer. If you desire to tender your Shares but
    prior to the expiration date:
</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 certificates for the Shares you wish to tender
    cannot be delivered to the depositary;&#160;or
</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;you cannot comply with the procedure for book-entry
    transfer;&#160;or
</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;your other required documents cannot be delivered to
    the depositary;
</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">
    you may tender your Shares according to the guaranteed delivery
    procedure described in Section&#160;3.
</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 TENDER SHARES, YOU MUST PROPERLY COMPLETE AND DULY EXECUTE
    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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Questions and requests for assistance may be directed to D.F.
    King&#160;&#38; Co., Inc., the information agent for the tender
    offer, at its address and telephone number set forth on the back
    cover page of this offer to purchase. Requests for additional
    copies of this offer to purchase, the related letter of
    transmittal or the notice of guaranteed delivery may also be
    directed to the information agent.
</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>We are not making the tender offer to, and will not accept
    any tendered shares from, stockholders in any jurisdiction where
    it would be illegal to do so. However, we may, at our
    discretion, take any actions necessary for us to make the tender
    offer to stockholders in any such jurisdiction.</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">
    WE HAVE NOT AUTHORIZED ANY PERSON TO MAKE ANY RECOMMENDATION ON
    OUR BEHALF AS TO WHETHER YOU SHOULD TENDER OR REFRAIN FROM
    TENDERING YOUR SHARES&#160;IN THE TENDER OFFER. WE HAVE NOT
    AUTHORIZED ANY PERSON TO GIVE ANY INFORMATION OR TO MAKE ANY
    REPRESENTATION IN CONNECTION WITH THE TENDER OFFER OTHER THAN
    THOSE CONTAINED IN THIS DOCUMENT OR IN THE LETTER OF
    TRANSMITTAL. IF GIVEN OR MADE, ANY RECOMMENDATION OR ANY SUCH
    INFORMATION OR REPRESENTATION MUST NOT BE RELIED UPON AS HAVING
    BEEN AUTHORIZED BY US, THE DEPOSITARY OR THE INFORMATION AGENT.
</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="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="tocpage"></A>
</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">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; 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="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
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    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=quadright -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Section</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Page</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#101'><B><FONT style="font-size: 10pt">SUMMARY TERM
    SHEET</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">1
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#102'><B><FONT style="font-size: 10pt">FORWARD-LOOKING
    STATEMENTS</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">6
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#103'><B><FONT style="font-size: 10pt">THE TENDER
    OFFER</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">7
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#104'><B><FONT style="font-size: 10pt">1.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#104'><B><FONT style="font-size: 10pt">NUMBER OF
    SHARES; PRORATION</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">7
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#105'><B><FONT style="font-size: 10pt">2.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#105'><B><FONT style="font-size: 10pt">BACKGROUND AND
    PURPOSE OF THE TENDER OFFER</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">10
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#106'><B><FONT style="font-size: 10pt">3.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#106'><B><FONT style="font-size: 10pt">PROCEDURES FOR
    TENDERING SHARES</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">11
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#107'><B><FONT style="font-size: 10pt">4.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <A HREF='#107'><B><FONT style="font-size: 10pt">WITHDRAWAL
    RIGHTS</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">15
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#108'><B><FONT style="font-size: 10pt">5.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#108'><B><FONT style="font-size: 10pt">PURCHASE OF
    SHARES&#160;AND PAYMENT OF PURCHASE PRICE</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">16
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#109'><B><FONT style="font-size: 10pt">6.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#109'><B><FONT style="font-size: 10pt">CONDITIONAL
    TENDER OF SHARES</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">17
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#110'><B><FONT style="font-size: 10pt">7.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#110'><B><FONT style="font-size: 10pt">CONDITIONS OF
    THE TENDER OFFER</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">17
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#111'><B><FONT style="font-size: 10pt">8.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#111'><B><FONT style="font-size: 10pt">PRICE RANGE OF
    SHARES</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">19
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#112'><B><FONT style="font-size: 10pt">9.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#112'><B><FONT style="font-size: 10pt">SOURCE AND
    AMOUNT OF FUNDS</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">20
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#113'><B><FONT style="font-size: 10pt">10.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#113'><B><FONT style="font-size: 10pt">CERTAIN
    INFORMATION ABOUT US</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">20
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#114'><B><FONT style="font-size: 10pt">11.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#114'><B><FONT style="font-size: 10pt">INTERESTS OF
    DIRECTORS AND EXECUTIVE OFFICERS; TRANSACTIONS AND ARRANGEMENTS
    CONCERNING THE SHARES</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">22
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#115'><B><FONT style="font-size: 10pt">12.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#115'><B><FONT style="font-size: 10pt">CERTAIN LEGAL
    MATTERS; REGULATORY AND FOREIGN APPROVALS</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">27
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#116'><B><FONT style="font-size: 10pt">13.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#116'><B><FONT style="font-size: 10pt">MATERIAL
    U.S.&#160;FEDERAL INCOME TAX CONSEQUENCES</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">28
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#117'><B><FONT style="font-size: 10pt">14.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#117'><B><FONT style="font-size: 10pt">EXTENSION OF
    TENDER OFFER; TERMINATION; AMENDMENTS</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">31
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#118'><B><FONT style="font-size: 10pt">15.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <A HREF='#118'><B><FONT style="font-size: 10pt">FEES AND
    EXPENSES</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">32
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#119'><B><FONT style="font-size: 10pt">16.</FONT></B></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <A HREF='#119'><B><FONT style="font-size: 10pt">MISCELLANEOUS</FONT></B></A>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">32
    </FONT>
</TD>
<TD>
</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 align="left">
<!-- /TOC -->
</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"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->
<A name='101'>
<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">SUMMARY
    TERM SHEET</FONT></B>
</DIV>
</A>
<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">
    This summary term sheet highlights material information which
    can be found elsewhere in this offer to purchase, but you should
    understand that it does not describe all of the details of the
    tender offer to the same extent as we do later in this offer to
    purchase. We urge you to read this entire offer to purchase, and
    the related letter of transmittal, because they contain the full
    details of the tender offer. For your convenience, we have
    included below references to the sections of this offer to
    purchase where you will find a more complete discussion.
</DIV>

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

</FONT></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">Who is
    offering to purchase my LCAPA shares?</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">
    Liberty Media Corporation.
</DIV>

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

</FONT></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">What will
    the purchase price for the LCAPA shares be?</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are conducting the tender offer through a procedure commonly
    called a modified &#147;Dutch Auction.&#148; This procedure
    allows you to select the price per Share (in increments of
    $0.10) within a price range specified by us at which you are
    willing to sell your Shares. The lowest price that may be
    specified is $105.00. The prices that may be specified increase
    in increments of $0.10 up to $113.00 and the highest price that
    may be specified is $113.00. The price range for the tender
    offer is $105.00 to $113.00&#160;per Share. We will determine
    the purchase price that we will pay per Share promptly after the
    tender offer expires. The purchase price will be the lowest
    price at which, based on the number of LCAPA shares tendered and
    the prices specified by the tendering stockholders, we can
    purchase 8,849,500&#160;Shares (or such fewer number of Shares
    as are properly tendered and not properly withdrawn prior to the
    expiration date for the tender offer).
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    On February&#160;27, 2007, the last full trading day before the
    initial public announcement of the tender offer, the closing
    sale price on the Nasdaq Global Select Market for an LCAPA share
    was $103.77. We will pay the same purchase price per Share in
    cash, less any applicable withholding taxes and without
    interest, for all the Shares we purchase in the tender offer,
    even if some of the Shares are tendered at a price below the
    purchase price. See Section&#160;1. Under no circumstances will
    we pay interest on the purchase price, even if there is a delay
    in making payment.
</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">
    If you wish to maximize the chance that your Shares will be
    purchased in the tender offer, you should check the box in the
    section of the letter of transmittal captioned
    &#147;Shares&#160;Tendered at Price Determined Pursuant to the
    Tender Offer&#148;. If you agree to accept the purchase price
    determined in the tender offer, your Shares will be deemed to be
    tendered at the minimum price of $105.00&#160;per share. You
    should understand that this election could have the effect of
    decreasing the purchase price determined by us, which may result
    in your Shares being purchased at the minimum price per share.
    See Section&#160;3.
</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">How many
    Shares will Liberty Media purchase in the tender
    offer?</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">
    We will purchase up to 8,849,500 LCAPA shares pursuant to the
    tender offer, or such lesser number of shares as may be properly
    tendered and not properly withdrawn, on the terms and subject to
    the conditions of the tender offer. The 8,849,500&#160;Shares
    represent approximately 6.6% of our outstanding LCAPA shares, as
    of January&#160;31, 2007. If more than 8,849,500&#160;Shares are
    properly tendered, the Shares tendered at or below the purchase
    price will be purchased on a pro rata basis, except for
    &#147;odd lots&#148; (lots held by beneficial owners of less
    than 100&#160;Shares), which will be purchased on a priority
    basis, and except for each conditional tender whose condition
    was not met, which we will not purchase (except as described in
    Section&#160;6).
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We expressly reserve the right to purchase a number of
    additional Shares representing up to 2% of the outstanding
    Shares without extending the tender offer. We also reserve the
    right to purchase more LCAPA shares, subject to applicable legal
    requirements. The tender offer is not conditioned on any minimum
    number of Shares being tendered, but the tender offer is subject
    to certain other conditions. See Section&#160;7.
</DIV>

<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">
    <BR>
    1
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<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">What
    happens if more than 8,849,500&#160;Shares are properly tendered
    at or below the purchase price?</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">
    If more than 8,849,500&#160;Shares (or such greater number of
    shares as we may elect to accept for payment, subject to
    applicable law) are properly tendered at or below the purchase
    price and not properly withdrawn prior to the expiration date
    for the tender offer, we will purchase shares:
</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>first</I>, from all holders of &#147;odd lots&#148; of less
    than 100&#160;Shares who properly tender all of their Shares at
    or below the purchase price and do not properly withdraw them
    before the expiration date for the tender 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">
    <I>second</I>, from all other stockholders who properly tender
    Shares at or below the purchase price and do not properly
    withdraw them before the expiration date, on a pro rata basis
    (except for stockholders who tendered Shares conditionally if
    the condition was not satisfied);&#160;and
</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>third</I>, only if necessary to permit us to purchase
    8,849,500&#160;Shares (or such greater number of shares as we
    may elect to accept for payment, subject to applicable law),
    from stockholders who have conditionally tendered Shares at or
    below the purchase price (if the condition was not initially
    satisfied) by random lot, to the extent feasible. To be eligible
    for purchase by random lot, stockholders whose Shares are
    conditionally tendered must have tendered all of their Shares.
</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">
    Because of the &#147;odd lot&#148; priority, proration and
    conditional tender provisions described above, we may not
    purchase all of the Shares that you tender even if you tender
    them at or below the purchase price. See Section&#160;1.
</DIV>

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

</FONT></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">If I own
    fewer than 100 LCAPA shares and I tender all of my Shares, will
    I be subject to proration?</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you beneficially own fewer than 100 LCAPA shares, you
    properly tender <I>all</I> of your Shares at or below the
    purchase price and do not properly withdraw them prior to the
    expiration date for the tender offer and you complete the
    section entitled &#147;Odd Lots&#148; in the letter of
    transmittal and, if applicable, in the notice of guaranteed
    delivery, we will purchase all of your Shares without subjecting
    them to the proration procedure. See Section&#160;1.
</DIV>

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

</FONT></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">What is
    the market price of my Shares as of a recent date?</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">
    On February&#160;27, 2007, the last full trading day before the
    initial public announcement of the tender offer, the closing
    sale price on the Nasdaq Global Select Market of the LCAPA
    shares was $103.71&#160;per share. You are urged to obtain
    current market quotations for your Shares before deciding
    whether and at what price to tender your Shares. See
    Section&#160;8.
</DIV>

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

</FONT></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">Why is
    Liberty Media making the tender offer?</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">
    We are making the tender offer because we believe that the stock
    price of the LCAPA shares does not accurately reflect the value
    of the businesses and assets currently attributed to Liberty
    Capital, or the long-term prospects for that group. We believe
    that purchasing our LCAPA shares, in conjunction with our
    strategy of exchanging non-strategic investments attributed to
    Liberty Capital for large or controlling interests in cash flow
    generating operating businesses and assets, is an effective way
    to create value for the holders of our LCAPA shares.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The tender offer provides holders of LCAPA shares (particularly
    those who, because of the size of their shareholdings, might not
    be able to sell their shares without potential disruption to the
    applicable share price) with an opportunity to obtain liquidity
    with respect to all or a portion of their LCAPA shares, without
    potential disruption to the applicable share price and the usual
    transaction costs associated with market sales. The tender offer
    also provides the opportunity for holders of LCAPA shares to
    sell their shares without the usual transaction costs associated
    with open market sales. Furthermore, &#147;odd lot&#148; holders
    who hold shares registered in their names and tender their
    shares directly to the depositary and whose shares are purchased
    pursuant to the tender offer will avoid any applicable odd lot
    discounts that might be payable on sales of their shares. See
    Section&#160;2.
</DIV>

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

</FONT></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">How will
    Liberty Media pay for the shares?</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">
    We will purchase Shares in the tender offer, and pay related
    fees and expenses, with our available cash resources. Financing
    is not a condition of the tender offer. See Section&#160;9.
</DIV>

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

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

<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">How long
    do I have to tender my Shares?</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">
    You may tender your Shares until the tender offer expires. The
    tender offer will expire on April&#160;5, 2007, at
    5:00&#160;p.m., New York City time, unless we extend it. See
    Section&#160;1. If a broker, dealer, commercial bank, trust
    company or other nominee holds your Shares, it is possible the
    nominee has established an earlier deadline for you to act to
    instruct the nominee to accept the tender offer on your behalf.
    We may choose to extend the tender offer for any reason, subject
    to applicable laws. We cannot assure you that we will extend the
    tender offer or indicate the length of any extension we may
    provide. See Section&#160;14.
</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">How will
    I be notified if Liberty Media extends or amends the tender
    offer?</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">
    If we decide to extend the tender offer, we will issue a press
    release announcing the extension and the new expiration date by
    9:00&#160;a.m., New York City time, on the first business day
    after the previously scheduled expiration date. We will announce
    any amendment to the tender offer by making a public
    announcement of the amendment. See Section&#160;14.
</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">Are there
    any conditions to the tender offer?</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">
    Yes. The tender offer is subject to conditions, such as the
    absence of court or governmental action prohibiting the tender
    offer and the absence of changes in general market conditions
    that, in our judgment, are or may be materially adverse to us.
    See Section&#160;7.
</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">Following
    the tender offer, will Liberty Media continue as a public
    company?</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">
    Yes, the completion of the tender offer in accordance with the
    conditions in this offer to purchase will not cause Liberty
    Media to stop being subject to the periodic reporting
    requirements of the Securities Exchange Act of 1934, as amended
    (the &#147;Exchange Act&#148;), or result in the LCAPA shares
    being delisted from the Nasdaq Global Select Market.
</DIV>

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

</FONT></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">How do I
    tender my Shares?</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">
    If you wish to tender all or a portion of your LCAPA shares,
    then before 5:00&#160;p.m., New York City time, on April&#160;5,
    2007, unless the tender offer is extended:
</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">

<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>    &#149;&#160;
</TD>
    <TD align="left">
    you must deliver your share certificate(s) and a properly
    completed and duly executed letter of transmittal to the
    depositary at the address appearing on the back cover page of
    this offer to purchase;&#160;or
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the depositary must receive a confirmation of receipt of your
    Shares by book-entry transfer and a properly completed and duly
    executed letter of transmittal;&#160;or
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you must request a broker, dealer, commercial bank, trust
    company or other nominee to effect the transaction for you; or
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you must comply with the guaranteed delivery procedure outlined
    in Section&#160;3.
</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">
    You may contact the information agent or your broker for
    assistance. The contact information for the information agent is
    set forth on the back cover page of this offer to purchase. See
    Section&#160;3.
</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">How do
    participants in the Liberty Media 401(k) Plan participate in the
    tender offer?</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">
    Participants in our 401(k) Savings Plan (the &#147;401(k)
    Plan&#148;) may not use the letter of transmittal to direct the
    tender of their LCAPA shares in the 401(k) Plan, but instead
    must follow the separate instructions related to those shares in
    the letter from the 401(k) Plan trustee sent to participants in
    the 401(k) Plan along with this offer to purchase. Those
    participants who wish to withdraw any such shares tendered
    pursuant to the tender offer must effect such withdrawal in
    accordance with the terms of the tender offer and the separate
    instructions described above. If you are a participant in the
    401(k) Plan and wish to have the trustee tender some or all
    LCAPA shares held in such plan, you must complete, execute, and
    return the separate direction form included in the applicable
    &#147;Letter to Liberty Media 401(k) Savings Plan
    Participants&#148; within the time period set forth in that
    letter.
</DIV>

<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">
    <BR>
    3
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<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">Once I
    have tendered Shares in the tender offer, can I withdraw my
    tender?</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">
    You may withdraw any Shares you have tendered pursuant to the
    tender offer at any time before the expiration of the tender
    offer, which will occur at 5:00&#160;p.m., New York City time,
    on April&#160;5, 2007, or the new expiration date if we extend
    the tender offer. If we have not accepted for payment the Shares
    you have tendered to us, you may also withdraw your Shares after
    12:00 Midnight, New York City time, on May&#160;1, 2007. See
    Section&#160;4.
</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">How do I
    withdraw Shares&#160;I previously tendered?</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">
    You must deliver, on a timely basis, a written or facsimile
    notice of your withdrawal to the depositary at the address
    appearing on the back cover page of this document. Your notice
    of withdrawal must specify your name, the number of Shares to be
    withdrawn and the name of the registered holder of these Shares.
    Some additional requirements apply if Shares have been tendered
    under the procedure for book-entry transfer set forth in
    Section&#160;3, or if the share certificates to be withdrawn
    have been delivered to the depositary. See Section&#160;4.
</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">Has
    Liberty Media or its board of directors adopted a position on
    the tender offer?</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">
    Our board of directors has approved the tender offer. However,
    neither we nor our board of directors, the depositary or
    information agent makes any recommendation to you as to whether
    you should tender or refrain from tendering your Shares. You
    must make your own decision as to whether to tender your Shares
    and, if so, how many Shares to tender and the price at which you
    will tender them. See Section&#160;11.
</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">Voting
    Power of our Chairman.</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">
    If the tender offer is fully subscribed, the voting power of our
    Chairman, John C. Malone, who beneficially owned Shares of our
    common stock (including shares purchasable upon exercise of
    options) representing approximately 31.5% of our aggregate
    voting power as of January&#160;31, 2007, would remain
    approximately the same. Mr.&#160;Malone has informed us that he
    does not intend to tender any of his Shares into the tender
    offer. See Section&#160;2.
</DIV>

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

</FONT></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">When will
    Liberty Media pay for the Shares&#160;I tender?</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">
    We will pay the purchase price to you in cash, less any
    applicable withholding taxes and without interest, for the
    Shares we purchase promptly after the expiration of the tender
    offer and the acceptance of the Shares for payment. See
    Section&#160;5.
</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">Will I
    have to pay brokerage commissions if I tender my
    Shares?</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">
    If you are a registered stockholder and you tender your Shares
    directly to the depositary, you will not incur any brokerage
    commissions. If you hold Shares through a broker or bank, you
    will need to consult your broker or bank to determine whether
    transaction costs apply. See Section&#160;3.
</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">I am a
    U.S.&#160;stockholder. What are the U.S.&#160;federal income tax
    consequences if I tender my Shares?</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">
    Generally, you will be subject to U.S.&#160;federal income
    taxation when you receive cash from us in exchange for the
    Shares you tender. Your receipt of cash for your tendered shares
    will generally be treated as either (1)&#160;consideration
    received in a sale or exchange or (2)&#160;a dividend. See
    Section&#160;13.
</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">
    EACH STOCKHOLDER IS ADVISED TO CONSULT ITS OWN TAX ADVISOR TO
    DETERMINE THE FEDERAL, STATE, LOCAL, FOREIGN AND OTHER TAX
    CONSEQUENCES TO IT OF THE OFFER TO PURCHASE.
</DIV>

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

</FONT></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">I am a
    foreign stockholder. What are the U.S.&#160;federal income tax
    consequences if I tender my Shares?</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 receipt of cash for your tendered shares will be treated as
    either (1)&#160;consideration received in a sale or exchange or
    (2)&#160;a dividend. If the receipt of cash by you is treated as
    consideration received in a sale or exchange, and you are a
    foreign stockholder who is not engaged in a trade or business in
    the United States, you will generally
</DIV>

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

<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    not be subject to U.S.&#160;federal income taxation on the
    receipt of such cash. However, if the receipt of cash is treated
    as a dividend distribution you may be subject to withholding tax
    on such distribution at a rate of 30% (or a lower rate pursuant
    to an applicable income tax treaty). The treatment of the
    receipt of cash depends upon facts which may be unique as to
    each shareholder. See Section&#160;13. Therefore, as to all
    foreign stockholders, U.S.&#160;tax will be withheld at 30% (or
    a lower rate pursuant to an applicable income tax treaty) unless
    the receipt of cash is effectively connected with such foreign
    stockholder&#146;s conduct of a trade or business within the
    United States. If the receipt of cash for your tendered shares
    is treated as consideration received in a sale or exchange, then
    you may apply for a refund of such withheld amount.
</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">
    EACH STOCKHOLDER IS ADVISED TO CONSULT ITS OWN TAX ADVISOR TO
    DETERMINE THE FEDERAL, STATE, LOCAL, FOREIGN AND OTHER TAX
    CONSEQUENCES TO IT OF THE OFFER TO PURCHASE.
</DIV>

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

</FONT></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">Who can I
    talk to if I have questions?</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 information agent can help answer your questions. The
    information agent is D.F. King&#160;&#38; Co., Inc. Contact
    information for the information agent is set forth on the back
    cover of this offer to purchase.
</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"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->
<A name='102'>
<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">FORWARD-LOOKING
    STATEMENTS</FONT></B>
</DIV>
</A>
<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">
    Certain statements in this offer to purchase or in the documents
    incorporated by reference herein, to the extent they are not
    recitations of historical fact, constitute forward looking
    statements within the meaning of the Federal securities laws.
    Forward looking statements, by definition, involve risks,
    uncertainties and assumptions. Where, in any forward looking
    statement, we express an expectation or belief as to future
    results or events, such expectation or belief is expressed in
    good faith and believed to have a reasonable basis, but there
    can be no assurance that the expectation or belief will result
    or be achieved or accomplished. In addition to the risk factors
    described in our most recent Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K,</FONT>
    the following include some but not all of the factors that could
    cause actual results or events to differ materially from
    anticipated results or events:
</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>    &#149;&#160;
</TD>
    <TD align="left">
    customer demand for our products and services and our ability to
    adapt to changes in demand;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    competitor responses to our products and services, and the
    products and services of the entities in which we have interests;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    uncertainties inherent in the development and integration of new
    business lines and business strategies;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    uncertainties associated with product and service development
    and market acceptance, including the development and provision
    of programming for new television and telecommunications
    technologies;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our future financial performance, including availability, terms
    and deployment of capital;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to successfully integrate and recognize anticipated
    efficiencies and benefits from the businesses we acquire;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the ability of suppliers and vendors to deliver products,
    equipment, software and services;
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the outcome of any pending or threatened litigation;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    availability of qualified personnel;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in, or failure or inability to comply with, government
    regulations, including, without limitation, regulations of the
    Federal Communications Commission, and adverse outcomes from
    regulatory proceedings;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the nature of key strategic relationships with
    partners and joint venturers;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    general economic and business conditions and industry trends;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    consumer spending levels, including the availability and amount
    of individual consumer debt;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the regulatory and competitive environment of the industries in
    which we, and the entities in which we have interests, operate;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    continued consolidation of the broadband distribution and movie
    studio industries;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in distribution and viewing of television programming,
    including the expanded deployment of personal video recorders,
    video on demand and IP television and their impact on home
    shopping networks;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increased digital TV penetration and the impact on channel
    positioning of our networks;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    rapid technological changes;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    capital spending for the acquisition
    <FONT style="white-space: nowrap">and/or</FONT>
    development of telecommunications networks and services;
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    threatened terrorists attacks and ongoing military action in the
    Middle East and other parts of the world; and
</TD>
</TR>

<TR style="line-height: 3pt; 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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    fluctuations in foreign currency exchange rates and political
    unrest in international markets.
</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">
    We caution you not to place undue reliance on the
    forward-looking statements contained or incorporated by
    reference in this offer to purchase. These forward-looking
    statements speak only as of the date on which the statements
    were made. We are not obligated to update or revise any
    forward-looking statement, whether as a result of new
    information, future results or any other reason, except as may
    be required by the federal securities laws. Notwithstanding the
    foregoing, at any time prior to the expiration date for the
    tender offer, we are obligated to update this offer to purchase
    to reflect material changes in the information contained herein.
    Notwithstanding anything in this offer to purchase, the letter
    of transmittal or any document incorporated by reference into
    this offer to purchase, the safe harbor protections of the
    Private Securities Litigation Reform Act of 1995 do not apply to
    statements made in connection with the tender offer.
</DIV>

<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"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->
<A name='103'>
<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
    TENDER OFFER</FONT></B>
</DIV>
</A>
<A name='104'>
<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="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">1.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">NUMBER OF
    SHARES; PRORATION</FONT></B>
</TD>
</TR>

</TABLE>

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

</FONT></DIV>
</A>
<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>General.</I>&#160;&#160;Upon the terms and subject to the
    conditions of the tender offer, we will purchase 8,849,500 LCAPA
    shares, or such lesser number of LCAPA shares as are properly
    tendered and not properly withdrawn in accordance with
    Section&#160;4, before the scheduled expiration date of the
    tender offer, at a purchase price (determined in the manner set
    forth below) not greater than $113.00 or less than
    $105.00&#160;per LCAPA share, net to the seller in cash, less
    any applicable withholding taxes and without interest.
</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 term &#147;expiration date,&#148; when used with reference
    to the tender offer, means 5:00&#160;p.m., New York City time,
    on April&#160;5, 2007, unless and until we, in our sole
    discretion, shall have extended the period of time during which
    the tender offer will remain open. Should the tender offer be
    extended, the term &#147;expiration date&#148; shall refer to
    the latest time and date at which the tender offer, as so
    extended by us, shall expire. See Section&#160;14 for a
    description of our right to extend, delay, terminate or amend
    the tender offer. The proration period and withdrawal rights for
    the tender offer expire on the expiration date for the tender
    offer.
</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">
    In accordance with the rules of the Securities and Exchange
    Commission (the &#147;SEC&#148;), we may, and we expressly
    reserve the right to, purchase in the tender offer an additional
    amount of Shares not to exceed 2% of the outstanding LCAPA
    shares, without amending or extending the tender offer. See
    Section&#160;14. In the event of an over-subscription of the
    tender offer as described below, Shares tendered at prices at or
    below the purchase price (determined as provided herein) will be
    subject to proration, except for &#147;Odd Lots&#148; (as
    defined below).
</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">
    If we
</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>    &#149;&#160;
</TD>
    <TD align="left">
    increase the price to be paid for the Shares above $113.00 per
    share, or decrease the price to be paid for the Shares below
    $105.00&#160;per share,
</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">

<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>    &#149;&#160;
</TD>
    <TD align="left">
    increase the number of shares we seek in the tender offer by a
    number in excess of 2% of the outstanding LCAPA shares, or
</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">

<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>    &#149;&#160;
</TD>
    <TD align="left">
    decrease the number of Shares we seek&#160;and
</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: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    in any such case the tender offer is scheduled to expire at any
    time earlier than the expiration of a period ending on the tenth
    business day (as defined below) from, and including, the date
    that notice of any such increase or decrease is first published,
    sent or given in the manner specified in Section&#160;14, we
    will extend the tender offer until the expiration of such period
    of ten business days. For the purposes of the tender offer, a
    &#147;business day&#148; means any day other than Saturday,
    Sunday or a United States federal holiday and consists of the
    time period from 12:01&#160;a.m. through 12:00 Midnight, New
    York City time.
</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>THE TENDER OFFER IS NOT CONDITIONED ON ANY MINIMUM NUMBER OF
    SHARES&#160;BEING TENDERED. THE TENDER OFFER IS, HOWEVER,
    SUBJECT TO CERTAIN CONDITIONS. SEE SECTION&#160;7.</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">
    In accordance with Instruction&#160;6 of the letter of
    transmittal, stockholders desiring to tender Shares must specify
    the price or prices, not greater than $113.00 or less than
    $105.00&#160;per Share, at which they are willing to sell their
    Shares to us in the tender offer. The lowest price that may be
    specified for Shares is $105.00. The prices that may be
    specified for Shares increase in increments of $0.10 up to
    $113.00 and a stockholder who desires to tender Shares at more
    than one price must complete a separate letter of transmittal
    for each price. See Section&#160;3. Alternatively, stockholders
    desiring to tender Shares can choose not to specify a price and,
    instead, specify that they will sell their Shares at the
    purchase price (determined as provided herein) we pay for Shares
    properly tendered and not properly withdrawn pursuant to the
    tender offer, in which case the stockholder will be deemed to
    have tendered such Shares at the minimum price of
    $105.00&#160;per share. Choosing the second option will maximize
    the chance that we will purchase a tendering stockholder&#146;s
    Shares, may lower the purchase price paid for all purchased
    Shares in the tender offer and could result in the tendering
    stockholder receiving a price per Share as low as $105.00 for
    the Shares.
</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 TENDER SHARES&#160;PROPERLY, STOCKHOLDERS MUST SPECIFY THE
    PRICE THEY ARE WILLING TO ACCEPT FOR SHARES&#160;THEY TENDER OR,
    ALTERNATIVELY, SPECIFY THAT THEY WILL SELL
</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"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    THEIR TENDERED SHARES&#160;AT THE PURCHASE PRICE FOR SUCH
    SHARES&#160;DETERMINED AS PROVIDED HEREIN. IF YOU SPECIFY MORE
    THAN ONE PRICE FOR YOUR SHARES&#160;IN A SINGLE LETTER OF
    TRANSMITTAL YOU WILL NOT HAVE VALIDLY TENDERED YOUR SHARES. SEE
    SECTION&#160;3.
</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">
    Promptly after the expiration date for the tender offer, we will
    determine the purchase price within the price range that we will
    pay for LCAPA shares properly tendered and not properly
    withdrawn, taking into account the number of Shares tendered and
    the prices specified by tendering stockholders. The purchase
    price will be the lowest price at which, based on the number of
    LCAPA shares tendered and the prices specified by the tendering
    stockholders, we can purchase 8,849,500 LCAPA shares (or such
    fewer number of Shares as are properly tendered and not properly
    withdrawn prior to the expiration date). The purchase price will
    be the net amount payable to the seller in cash, less any
    applicable withholding taxes and without interest. Shares
    properly tendered pursuant to the tender offer at prices at or
    below the purchase price and not properly withdrawn will be
    purchased at the purchase price, upon the terms and subject to
    the conditions of the tender offer, including the odd lot
    priority, proration and conditional tender provisions.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We will not purchase LCAPA shares tendered at prices greater
    than the purchase price, nor will we purchase Shares that we do
    not accept in the tender offer because of &#147;odd lot&#148;
    priority, proration and conditional tender provisions. We will
    return to the tendering stockholders Shares that we do not
    purchase in the tender offer at our expense promptly after 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: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Stockholders also can specify the order in which we will
    purchase the specified portions in the event that, as a result
    of the proration provisions or otherwise, we purchase some but
    not all of the tendered Shares pursuant to the tender offer. In
    the event a stockholder does not designate the order and fewer
    than all Shares are purchased due to proration, the depositary
    will select the order of Shares purchased.
</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">
    If the number of Shares properly tendered and not properly
    withdrawn prior to the expiration date of the tender offer is
    less than or equal to 8,849,500 LCAPA shares, or such greater
    number of Shares as we may elect to purchase pursuant to the
    tender offer, subject to applicable law, we will, upon the terms
    and subject to the conditions of the tender offer, purchase all
    LCAPA shares so tendered at the purchase price.
</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">
    <I>Priority of Purchases.</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">
    Upon the terms and subject to the conditions of the tender
    offer, if more than 8,849,500 LCAPA shares, or such greater
    number of LCAPA shares as we may elect to accept for payment,
    subject to applicable law, have been properly tendered at prices
    at or below the purchase price and not properly withdrawn prior
    to the expiration date for the tender offer, we will purchase
    properly tendered and not properly withdrawn Shares on the basis
    set forth below:
</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">

<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>    &#149;&#160;
</TD>
    <TD align="left">
    First, upon the terms and subject to the conditions of the
    tender offer, we will purchase all Shares tendered by any Odd
    Lot Holder (as defined below) who:
</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">

<TR>
    <TD width="8%"></TD>
    <TD width="2%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    tenders all LCAPA shares beneficially owned by such Odd Lot
    Holder at a price at or below the purchase price (tenders of
    less than all of the Shares owned by such odd lot holder will
    not qualify for this preference);&#160;and
</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">

<TR>
    <TD width="8%"></TD>
    <TD width="2%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    completes the section entitled &#147;Odd Lots&#148; in the
    letter of transmittal and, if applicable, in the appropriate
    notice of guaranteed delivery.
</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">

<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>    &#149;&#160;
</TD>
    <TD align="left">
    Second, subject to the conditional tender provisions described
    in Section&#160;6, we will purchase all other LCAPA shares
    tendered at prices at or below the purchase price on a pro rata
    basis with appropriate adjustments to avoid purchases of
    fractional shares, as described below.
</TD>
</TR>

</TABLE>

<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>

<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>    &#149;&#160;
</TD>
    <TD align="left">
    Third, if necessary to permit us to purchase 8,849,500 LCAPA
    shares (or such greater number of LCAPA shares as we may elect
    to accept for payment), Shares conditionally tendered (for which
    the condition requiring us to purchase a specified number of
    Shares was not initially satisfied) at or below the purchase
    price determined in the tender offer, will, to the extent
    feasible, be selected for purchase by random lot. To be eligible
    for purchase by random lot, stockholders whose Shares are
    conditionally tendered must have tendered all of their Shares.
</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">
    <BR>
    8
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    As a result of the foregoing priorities, it is possible that all
    of the Shares that a stockholder tenders in the tender offer may
    not be purchased even if they are tendered at prices at or below
    the purchase price. In addition, if a tender is conditioned upon
    the purchase of a specified number of Shares, it is possible
    that none of those Shares will be purchased even though those
    Shares were tendered at prices at or below the purchase price.
</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">
    <I>Odd Lots.</I>&#160;&#160;The term &#147;odd lots&#148; means
    all LCAPA shares properly tendered prior to the expiration date
    at prices at or below the purchase price and not properly
    withdrawn by any person (an &#147;Odd Lot Holder&#148;) who
    beneficially owned fewer than 100 LCAPA shares, and so certified
    in the appropriate place in the letter of transmittal and, if
    applicable, in the appropriate notice of guaranteed delivery.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To qualify for the odd lot preference with respect to the tender
    offer, an Odd Lot Holder must tender all LCAPA shares owned by
    the Odd Lot Holder in accordance with the procedures described
    in Section&#160;3. Odd Lots will be accepted for payment before
    any proration of the purchase of other tendered shares. This
    preference is not available to partial tenders or to beneficial
    or record holders of an aggregate of 100 or more LCAPA shares,
    even if these holders have separate accounts or certificates
    representing fewer than 100&#160;Shares. By tendering in the
    tender offer, an Odd Lot Holder who holds Shares in its name and
    tenders its Shares directly to the depositary would not only
    avoid the payment of brokerage commissions, but also would avoid
    any applicable odd lot discounts in a sale of the holder&#146;s
    shares. Any Odd Lot Holder wishing to tender all of its Shares
    pursuant to the tender offer should complete the section
    entitled &#147;Odd Lots&#148; in the letter of transmittal and,
    if applicable, in the appropriate notice of guaranteed delivery.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Proration.</I>&#160;&#160;Upon the terms and subject to the
    conditions of the tender offer (including the odd lot preference
    discussed above and the conditional tender provisions discussed
    in Section&#160;6), if more than 8,849,500 LCAPA shares or such
    greater number of Shares as we may elect to purchase, subject to
    applicable law, have been properly tendered at prices at or
    below the purchase price, and not properly withdrawn before the
    expiration date, we will purchase such properly tendered and not
    properly withdrawn Shares on a pro rata basis, with appropriate
    adjustments to avoid purchases of fractional shares.
</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">
    If proration of tendered Shares is required, we will determine
    the proration factor for those Shares promptly after the
    expiration date of the tender offer. The proration factor will
    be determined by dividing the maximum number of Shares sought by
    us to be purchased in the tender offer (minus the number of
    Shares tendered by Odd Lot Holders) by the total number of
    Shares that are properly tendered pursuant to the tender offer,
    and not properly withdrawn, at or below the purchase price
    (minus the number of Shares tendered by Odd Lot Holders). We
    will then determine the number of Shares we will purchase from
    each stockholder (other than Odd Lot Holders) from whom we
    purchase Shares in the tender offer by multiplying the number of
    Shares properly tendered by that stockholder in the tender offer
    at prices at or below the purchase price, and not properly
    withdrawn, by the proration factor. Because of the difficulty in
    determining the number of Shares properly tendered, including
    shares tendered by guaranteed delivery procedures, and not
    properly withdrawn, and because of the odd lot priority
    described above and the conditional tender procedure described
    in Section&#160;6, we do not expect to be able to announce the
    final proration factor or commence payment for any Shares
    purchased under the tender offer until approximately five to
    seven business days after the expiration date for the tender
    offer. The final results of any proration will be announced by
    press release promptly after the determination thereof.
</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">
    As described in Section&#160;13, the number of Shares that we
    will purchase from a stockholder under the tender offer may
    affect the United States federal income tax consequences to that
    stockholder and, therefore, may be relevant to a
    stockholder&#146;s decision whether or not to tender Shares and
    whether to condition any tender upon our purchase of a stated
    number of shares held by such stockholder.
</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">
    This offer to purchase and the related letter of transmittal
    will be mailed to record holders of LCAPA shares and will be
    furnished to brokers, dealers, commercial banks and trust
    companies whose names, or the names of whose nominees, appear on
    Liberty Media&#146;s stockholder list or, if applicable, who are
    listed as participants in a clearing agency&#146;s security
    position listing for subsequent transmittal to beneficial owners
    of LCAPA shares, as applicable.
</DIV>

<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">
    <BR>
    9
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->
<A name='105'>
<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="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">BACKGROUND
    AND PURPOSE OF THE TENDER OFFER</FONT></B>
</TD>
</TR>

</TABLE>

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

</FONT></DIV>
</A>
<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>Background and Purpose of the Tender
    Offer.</I>&#160;&#160;Our management and board of directors have
    evaluated our operations, strategy and expectations and have
    determined that repurchasing a portion of our LCAPA shares is a
    prudent use of our financial resources. We are making the tender
    offer because we believe that the stock price of the LCAPA
    shares does not accurately reflect the value of the businesses
    and the assets currently attributed to Liberty Capital, or the
    long-term prospects for that group. We believe that purchasing
    our LCAPA shares thereby shrinking the equity base of Liberty
    Capital, in conjunction with our strategy of exchanging
    non-strategic investments attributed to Liberty Capital for
    large or controlling interests in cash flow generating operating
    businesses and assets, is an effective way to create value for
    the holders of our LCAPA shares.
</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">
    Our board of directors has previously authorized the repurchase
    of up to $2&#160;billion of outstanding Liberty Interactive
    common stock and up to $1&#160;billion of Liberty Capital common
    stock in the open market or in privately negotiated
    transactions, subject to market conditions. To date, we have
    repurchased 53&#160;million shares of our Liberty Interactive
    Series&#160;A common stock for aggregate cash consideration of
    $986&#160;million pursuant to our stock repurchase program. The
    stock repurchase program with respect to Liberty Capital shares
    will be suspended during the period of the tender offer and for
    such longer period as may required by law.
</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">
    We believe that the modified &#147;Dutch Auction&#148; tender
    offer provides stockholders (particularly those who, because of
    the size of their shareholdings, might not be able to sell their
    Shares without potential disruption to the share price) with an
    opportunity to obtain liquidity with respect to all or a portion
    of their Shares, without potential disruption to the share price
    and the usual transaction costs associated with market sales.
</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 tender offer also provides those of our stockholders that
    desire to sell their Shares with the opportunity to do so
    without the usual transaction costs associated with open market
    sales. Furthermore, &#147;odd lot&#148; holders who hold shares
    registered in their names and tender their Shares directly to
    the depositary and whose Shares are purchased pursuant to the
    tender offer will avoid any applicable odd lot discounts that
    might be payable on sales of their Shares.
</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>Certain Effects of the Tender Offer.</I>&#160;&#160;The
    tender offer may present some potential risks and disadvantages
    to our continuing stockholders, including:
</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">

<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>    &#149;&#160;
</TD>
    <TD align="left">
    The tender offer will marginally increase the relative voting
    power of holders of outstanding shares of our Liberty Capital
    Series&#160;B common stock and shares of our Liberty Interactive
    Series&#160;B common stock relative to the voting power of
    holders of our LCAPA shares and shares of our Liberty
    Interactive Series&#160;A common stock. Shares of our Liberty
    Capital Series&#160;B common stock and shares of Liberty
    Interactive Series&#160;B common stock provide holders with ten
    votes per share with respect to the election of directors and
    matters generally subject to a stockholders vote, whereas LCAPA
    shares and shares of our Liberty Interactive Series&#160;A
    common stock provide holders with one vote per share. The shares
    of Liberty Capital Series&#160;B common stock are also
    convertible on a
    <FONT style="white-space: nowrap">one-for-one</FONT>
    basis into LCAPA shares and the shares of Liberty Interactive
    Series&#160;B common stock are convertible on a
    <FONT style="white-space: nowrap">one-for-one</FONT>
    basis into shares of Liberty Interactive Series&#160;A common
    stock. The extent of the increase in the relative voting power
    of the shares of Liberty Capital Series&#160;B common stock and
    shares of Liberty Interactive Series&#160;B common stock will
    depend on the amount of LCAPA shares we purchase in the tender
    offer. Were the tender offer to be fully subscribed, the
    combined voting power of holders of our outstanding shares of
    Liberty Capital Series&#160;B common stock and shares of Liberty
    Interactive Series&#160;B common stock would increase from 32.2%
    (as of January&#160;31, 2007)&#160;to 32.5%.
</TD>
</TR>

</TABLE>

<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>

<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>    &#149;&#160;
</TD>
    <TD align="left">
    The tender offer will marginally increase the voting power of
    our Chairman, John C. Malone, who has advised us that he does
    not intend to tender any of his shares into the tender offer.
    The extent of the increase will depend on the amount of LCAPA
    shares that we purchase in the tender offer. If the tender offer
    is fully subscribed, Mr. Malone, who beneficially owned shares
    of our common stock (including shares purchasable upon exercise
    of options) representing approximately 31.5% of our aggregate
    voting power as of January&#160;31, 2007, including his
    beneficial ownership of approximately 0.6% of our LCAPA shares,
    approximately 90.1% of our Liberty Capital Series&#160;B common
    stock, approximately 0.6% of our Liberty Interactive
    Series&#160;A common stock and approximately 90.4% of our
    Liberty Interactive Series&#160;B common stock, would
</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">
    <BR>
    10
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

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

</FONT></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>
</TD>
    <TD align="left">
     beneficially own shares of our common stock representing
    approximately 31.7% of our aggregate voting power. If the tender
    offer is fully subscribed, the aggregate voting power of our
    directors and executive officers (other than Mr.&#160;Malone),
    who beneficially owned shares of common stock (including shares
    purchasable upon exercise of options) representing
    approximately&#160;5.0% of our aggregate voting power as of
    January&#160;31, 2007, would remain approximately the same.
</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">
    Our directors and executive officers have each advised us that
    they do not intend to tender any of their Shares in the tender
    offer. If the directors and executive officers do not tender any
    of their Shares in the tender offer and we complete the tender
    offer, the proportional holdings of our directors and executive
    officers in our company will increase. However, our directors
    and executive officers may, in compliance with applicable law,
    sell their shares in open market transactions at prices that may
    or may not be more favorable than the applicable purchase price
    to be paid to our stockholders in the tender offer. See
    Section&#160;11.
</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 tender offer will reduce our &#147;public float&#148; (the
    number of shares owned by non-affiliate stockholders and
    available for trading in the securities markets), and is likely
    to reduce the number of our stockholders.
</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">
    Stockholders who do not tender their Shares pursuant to the
    tender offer and stockholders who otherwise retain an equity
    interest in Liberty Media and our Liberty Capital as a result of
    a partial tender of Shares or proration will continue to be
    stockholders of Liberty Media. As a result, if we complete the
    tender offer, those stockholders will realize a proportionate
    increase in their relative equity interest in Liberty Media and
    will bear the attendant risks associated with owning our equity
    securities, including risks resulting from our purchase of
    Shares. Stockholders may be able to sell non-tendered shares in
    the future on The Nasdaq Global Select Market, or otherwise, at
    a net price significantly higher or lower than the purchase
    price in the tender offer. We can give no assurance as to the
    price at which a stockholder may be able to sell its Shares in
    the future.
</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">
    We may in the future purchase additional LCAPA shares on the
    open market, in private transactions, through tender offers or
    otherwise. Any additional purchases may be on the same terms or
    on terms that are more or less favorable to stockholders than
    the terms of the tender offer. However, SEC
    <FONT style="white-space: nowrap">Rule&#160;13e-4(f)(6)</FONT>
    prohibits us and our affiliates from purchasing any LCAPA
    shares, other than pursuant to the tender offer, until at least
    ten business days after the expiration or earlier termination of
    the tender offer.
</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">
    Shares acquired pursuant to the tender offer will be retired and
    returned to the status of authorized and available for issuance.
</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">
    OUR BOARD OF DIRECTORS HAS APPROVED THE TENDER OFFER. HOWEVER,
    NONE OF LIBERTY MEDIA, ITS BOARD OF DIRECTORS, THE DEPOSITARY OR
    THE INFORMATION AGENT MAKES ANY RECOMMENDATION TO YOU AS TO
    WHETHER YOU SHOULD TENDER OR REFRAIN FROM TENDERING YOUR SHARES.
    YOU MUST MAKE YOUR OWN DECISION AS TO WHETHER TO TENDER YOUR
    SHARES&#160;AND, IF SO, HOW MANY SHARES&#160;TO TENDER AND THE
    PRICE AT WHICH YOU WILL TENDER THEM.
</DIV>
<A name='106'>
<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="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">3.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">PROCEDURES
    FOR TENDERING SHARES</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<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>Proper Tender of Shares.</I>&#160;&#160;For Shares to be
    tendered properly under the tender offer, (1)&#160;the
    certificates for such Shares (or confirmation of receipt of such
    Shares under the procedure for book-entry transfer set forth
    below), together with a properly completed and duly executed
    letter of transmittal (or a manually signed facsimile thereof),
    including any required signature guarantees, or an
    &#147;agent&#146;s message&#148; (as defined below), and any
    other documents required by the letter of transmittal, must be
    received before 5:00&#160;p.m., New York City time, on the
    expiration date by the depositary at its address set forth on
    the back cover page of this offer to purchase or (2)&#160;the
    tendering stockholder must comply with the guaranteed delivery
    procedure set forth 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">
    Stockholders who hold Shares through brokers or banks are urged
    to consult the brokers or banks to determine whether transaction
    costs are applicable if stockholders tender shares through the
    brokers or banks and not directly to the depositary.
</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">
    In accordance with Instruction&#160;6 of the letter of
    transmittal, each stockholder desiring to tender Shares pursuant
    to the tender offer must either (1)&#160;check the box in the
    section of the letter of transmittal captioned
    &#147;Shares&#160;Tendered
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    11
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    at Price Determined Pursuant to the Tender Offer,&#148; in which
    case you will be deemed to have tendered your Shares at the
    minimum price of $105.00&#160;per share (<B>YOU SHOULD
    UNDERSTAND THAT THIS ELECTION MAY LOWER THE PURCHASE PRICE PAID
    FOR ALL PURCHASED SHARES&#160;IN THE TENDER OFFER AND COULD
    RESULT IN THE TENDERED SHARES&#160;BEING PURCHASED AT THE
    MINIMUM PRICE OF $105.00 PER SHARE</B>) or (ii)&#160;check one,
    and only one, of the boxes corresponding to the price at which
    Shares are being tendered in the section of the letter of
    transmittal captioned &#147;Shares&#160;Tendered at Price
    Determined by Stockholder.&#148; A tender of Shares will be
    proper if one, and only one, of these boxes is checked on the
    letter of transmittal.
</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">
    If tendering stockholders wish to maximize the chance that we
    will purchase their Shares, they should check the box in the
    section of the letter of transmittal captioned
    &#147;Shares&#160;Tendered at Price Determined Pursuant to the
    Tender Offer&#148;. Note that this election could result in the
    tendered Shares being purchased at the minimum price of
    $105.00&#160;per share. The closing sale price for LCAPA shares
    on February&#160;27, 2007, the last full trading day before the
    initial public announcement of the tender offer, was $103.71.
</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">
    Stockholders also can specify the order in which we will
    purchase the specified portions in the event that, as a result
    of the proration provisions or otherwise, we purchase some but
    not all of the tendered Shares pursuant to the tender offer. In
    the event a stockholder does not designate the order and fewer
    than all Shares are purchased due to proration, the depositary
    will select the order of Shares purchased.
</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">
    Odd Lot Holders must tender all of their Shares and also
    complete the section titled &#147;Odd Lots&#148; in the letter
    of transmittal and, if applicable, in the appropriate notice of
    guaranteed delivery, to qualify for the preferential treatment
    available to Odd Lot Holders as 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A stockholder who desires to tender Shares at more than one
    price must complete a separate letter of transmittal for the
    tender offer for each price, provided that a stockholder may not
    tender the same Shares (unless properly withdrawn previously in
    accordance with Section&#160;4)&#160;at more than one price. In
    the event a stockholder has submitted multiple letters of
    transmittal in order to tender Shares at more than one price, a
    separate notice of withdrawal must be submitted in accordance
    with the terms of the tender offer with respect to each separate
    letter of transmittal in order for such withdrawals to be
    effective.
</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 TENDER SHARES&#160;PROPERLY, STOCKHOLDERS MUST CHECK ONE AND
    ONLY ONE PRICE BOX IN THE APPROPRIATE SECTION&#160;OF THE LETTER
    OF TRANSMITTAL. IF YOU CHECK MORE THAN ONE BOX OR IF YOU FAIL TO
    CHECK ANY BOX AT ALL YOU WILL NOT HAVE VALIDLY TENDERED YOUR
    SHARES.
</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>Signature Guarantees and Method of
    Delivery.</I>&#160;&#160;No signature guarantee is required:
    (1)&#160;if the letter of transmittal is signed by the
    registered holder of the Shares (which term, for purposes of
    this Section&#160;3, shall include any participant in The
    Depository Trust Company, referred to as the &#147;book-entry
    transfer facility&#148;, whose name appears on a security
    position listing as the owner of the Shares) tendered therewith
    and such holder has not completed either the box captioned
    &#147;Special Delivery Instructions&#148; or the box captioned
    &#147;Special Payment Instructions&#148; on the letter of
    transmittal; or (2)&#160;if Shares are tendered for the account
    of a bank, broker, dealer, credit union, savings association or
    other entity which is a member in good standing of the
    Securities Transfer Agents Medallion Program or a bank, broker,
    dealer, credit union, savings association or other entity which
    is an &#147;eligible guarantor institution&#148;, as such term
    is defined in
    <FONT style="white-space: nowrap">Rule&#160;17Ad-15</FONT>
    under the Exchange Act. If a certificate for Shares is
    registered in the name of a person other than the person
    executing a letter of transmittal, or if payment is to be made
    to a person other than the registered holder, then the
    certificate must be endorsed or accompanied by an appropriate
    stock power, in either case signed exactly as the name of the
    registered holder appears on the certificate, with the signature
    guaranteed by an 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Payment for Shares tendered and accepted for payment under the
    tender offer will be made only after timely receipt by the
    depositary of certificates for such shares or a timely
    confirmation of the book-entry transfer of such shares into the
    depositary&#146;s account at the book-entry transfer facility as
    described above, a properly completed and duly executed letter
    of transmittal or a manually signed facsimile thereof, or an
    agent&#146;s message in the case of a book-entry transfer, and
    any other documents required by the letter of transmittal. THE
    METHOD OF DELIVERY OF ALL DOCUMENTS, INCLUDING CERTIFICATES FOR
    SHARES, THE LETTER OF TRANSMITTAL
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    12
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    AND ANY OTHER REQUIRED DOCUMENTS, IS AT THE ELECTION AND RISK OF
    THE TENDERING STOCKHOLDER. IF DELIVERY IS BY MAIL, REGISTERED
    MAIL WITH RETURN RECEIPT REQUESTED, PROPERLY INSURED, IS
    RECOMMENDED.
</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">
    <I>Book-Entry Delivery.</I>&#160;&#160;The depositary will
    establish an account with respect to the Shares for purposes of
    the tender offer at the book-entry transfer facility within two
    business days after the date of this offer to purchase, and any
    financial institution that is a participant in the book-entry
    transfer facility&#146;s system may make book-entry delivery of
    LCAPA shares by causing the book-entry transfer facility to
    transfer those shares into the depositary&#146;s account in
    accordance with the book-entry transfer facility&#146;s
    procedures for transfer. Although delivery of Shares may be
    effected through a book-entry transfer into the
    depositary&#146;s account at the book-entry transfer facility,
    either (1)&#160;a properly completed and duly executed letter of
    transmittal or a manually signed facsimile thereof with any
    required signature guarantees, or an agent&#146;s message, and
    any other required documents must, in any case, be transmitted
    to and received by the depositary at its address set forth on
    the back cover page of this offer to purchase before the
    expiration date or (2)&#160;the guaranteed delivery procedure
    described below must be followed. DELIVERY OF THE LETTER OF
    TRANSMITTAL AND ANY OTHER REQUIRED DOCUMENTS TO THE BOOK-ENTRY
    TRANSFER FACILITY DOES NOT CONSTITUTE DELIVERY TO THE DEPOSITARY.
</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 term &#147;agent&#146;s message&#148; means a message
    transmitted by the book-entry transfer facility to, and received
    by, the depositary, which states that the book-entry transfer
    facility has received an express acknowledgment from the
    participant in the book-entry transfer facility tendering the
    Shares that such participant has received and agrees to be bound
    by the terms of the letter of transmittal and that we may
    enforce such agreement against such participant.
</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>U.S.&#160;Federal Backup Withholding
    Tax.</I>&#160;&#160;Under the U.S.&#160;federal income tax
    backup withholding rules, unless an exemption applies under the
    applicable law and regulations, 28% of the gross proceeds
    payable to a stockholder or other payee pursuant to the tender
    offer must be withheld and remitted to the IRS, unless the
    stockholder or other payee provides its taxpayer identification
    number (employer identification number or social security
    number) to the depositary (as payer) and certifies under
    penalties of perjury that the number is correct. Therefore, each
    tendering stockholder that is a United States Holder (as defined
    in Section&#160;13)&#160;should complete and sign the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    included as part of the letter of transmittal so as to provide
    the information and certification necessary to avoid backup
    withholding unless the stockholder otherwise establishes to the
    satisfaction of the depositary that the stockholder is not
    subject to backup withholding. If a United States Holder does
    not provide the depositary with the correct taxpayer
    identification number, the United States Holder may be subject
    to penalties imposed by the IRS. If backup withholding results
    in an overpayment of taxes, a refund may be obtained from the
    IRS in accordance with its refund procedures. Certain
    &#147;exempt recipients&#148; (including, among others, all
    corporations and certain
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holders (as defined in Section&#160;13)) are not subject
    to backup withholding. In order for a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder to qualify as an exempt recipient, that
    stockholder must submit an IRS
    <FONT style="white-space: nowrap">Form&#160;W-8BEN</FONT>
    or <FONT style="white-space: nowrap">W-8ECI</FONT>
    (or in the case of certain foreign partnerships and other
    foreign intermediaries,
    <FONT style="white-space: nowrap">Form&#160;W-8IMY),</FONT>
    signed under penalties of perjury, attesting to that
    stockholder&#146;s exempt status. This statement can be obtained
    from the depositary. See Instruction&#160;11 of 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    TO PREVENT U.S.&#160;FEDERAL INCOME TAX BACKUP WITHHOLDING EQUAL
    TO 28% OF THE GROSS PAYMENT MADE TO STOCKHOLDERS FOR
    SHARES&#160;PURCHASED PURSUANT TO THE TENDER OFFER, EACH
    STOCKHOLDER THAT IS A UNITED STATES HOLDER AND DOES NOT
    OTHERWISE ESTABLISH AN EXEMPTION&#160;FROM THE BACKUP
    WITHHOLDING MUST PROVIDE THE DEPOSITARY WITH THE
    STOCKHOLDER&#146;S CORRECT TAXPAYER IDENTIFICATION NUMBER AND
    PROVIDE OTHER INFORMATION BY COMPLETING THE SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT>
    INCLUDED AS PART&#160;OF 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For a discussion of United States federal income tax
    consequences to tendering stockholders, see Section&#160;13.
</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>Withholding for
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holders.</I>&#160;&#160;Even if a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder has provided the required certification to avoid
    backup withholding, the depositary will withhold
    U.S.&#160;federal income taxes equal to 30% of the gross
    payments payable to a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder or his agent unless the depositary determines that
    a reduced rate of withholding is available under a tax treaty or
    that an exemption from withholding is applicable because the
    gross proceeds are effectively connected with the conduct of a
    trade of business within the United States
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    13
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<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    (and, if a treaty applies, the gross proceeds are generally
    attributable to a United States permanent establishment
    maintained by such
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder). To obtain a reduced rate of withholding under a
    tax treaty, a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder must deliver to the depositary a properly
    completed and executed IRS
    <FONT style="white-space: nowrap">Form&#160;W-8BEN</FONT>
    before the payment is made. To obtain an exemption from
    withholding on the grounds that the gross proceeds paid pursuant
    to the tender offer are effectively connected with the conduct
    of a trade or business within the United States, a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder must deliver to the depositary a properly
    completed and executed IRS
    <FONT style="white-space: nowrap">Form&#160;W-8ECI.</FONT>
    In the case of a Holder that is a foreign partnership (or other
    foreign intermediary),
    <FONT style="white-space: nowrap">Form&#160;W-8IMY</FONT>
    should be filed. A
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder that qualifies for an exemption from withholding
    by delivering IRS
    <FONT style="white-space: nowrap">Form&#160;W-8ECI</FONT>
    will generally be required to file a U.S.&#160;federal income
    tax return and generally will be subject to U.S.&#160;federal
    income tax on income derived from the sale of shares pursuant to
    the tender offer in the manner and to the extent described in
    Section&#160;13 as if it were a United States Holder, and in the
    case of a foreign corporation, such income may be subject to the
    branch profit tax at a rate of 30% (or a lower rate specified in
    an applicable income tax treaty). The depositary will determine
    a stockholder&#146;s status as a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder and eligibility for a reduced rate of, or
    exemption from, withholding by reference to any outstanding,
    valid certificates or statements concerning eligibility for a
    reduced rate of, or exemption from, withholding (e.g., IRS
    <FONT style="white-space: nowrap">Form&#160;W-8BEN,</FONT>
    IRS
    <FONT style="white-space: nowrap">Form&#160;W-8ECI</FONT>
    or IRS
    <FONT style="white-space: nowrap">Form&#160;W-8IMY)</FONT>
    unless facts and circumstances indicate that reliance is not
    warranted.
</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">
    A <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder may be eligible to obtain a refund of all or a
    portion of any tax withheld if the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder meets the &#147;complete termination,&#148;
    &#147;substantially disproportionate&#148; or &#147;not
    essentially equivalent to a dividend&#148; tests described in
    Section&#160;13 that would characterize the exchange as a sale
    (as opposed to a dividend) with respect to which the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder is not subject to tax or is otherwise able to
    establish that no tax or a reduced amount of tax is due.
</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">
    <FONT style="white-space: nowrap">NON-UNITED</FONT>
    STATES HOLDERS ARE ADVISED TO CONSULT THEIR TAX ADVISORS
    REGARDING THE APPLICATION OF U.S.&#160;FEDERAL INCOME TAX
    WITHHOLDING, INCLUDING ELIGIBILITY FOR A WITHHOLDING TAX
    REDUCTION OR EXEMPTION, AND THE REFUND PROCEDURE.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Guaranteed Delivery.</I>&#160;&#160;If a stockholder desires
    to tender LCAPA shares under the tender offer and the
    stockholder&#146;s share certificates are not immediately
    available or cannot be delivered to the depositary before the
    expiration date, or the procedure for book-entry transfer cannot
    be completed on a timely basis, or if time will not permit all
    required documents to reach the depositary before the expiration
    date, the Shares may nevertheless be tendered, provided that all
    of the following conditions are satisfied:
</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">
    (a)&#160;the tender is made by or through an eligible guarantor
    institution;
</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">
    (b)&#160;the depositary receives by hand, mail, overnight
    courier, telegram or facsimile transmission, before the
    expiration date, a properly completed and duly executed notice
    of guaranteed delivery in the form we have provided with this
    document, including (where required) a signature guarantee by an
    eligible guarantor institution in the form set forth in such
    notice of guaranteed delivery;&#160;and
</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">
    (c)&#160;the certificates for all tendered Shares, in proper
    form for transfer, or confirmation of book-entry transfer of
    such shares into the depositary&#146;s account at the book-entry
    transfer facility, together with a properly completed and duly
    executed letter of transmittal, or a manually signed facsimile
    thereof, and any required signature guarantees, or an
    agent&#146;s message, or other documents required by the letter
    of transmittal, are received by the depositary within three
    Nasdaq Global Select Market trading days after the date of
    receipt by the depositary 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Return of Unpurchased Shares.</I>&#160;&#160;If any tendered
    Shares are not purchased under the tender offer or are properly
    withdrawn before the expiration date, or if less than all Shares
    evidenced by a stockholder&#146;s certificates are tendered,
    certificates for unpurchased Shares will be returned promptly
    after the expiration or termination of the tender offer or the
    proper withdrawal of the Shares, as applicable, or, in the case
    of Shares tendered by book-entry transfer at the book-entry
    transfer facility, the Shares will be credited to the
    appropriate account maintained by the tendering stockholder at
    the book-entry transfer facility, in each case without expense
    to the stockholder.
</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">
    <I>Determination of Validity; Rejection of Shares; Waiver of
    Defects; No Obligation to give Notice of
    Defects.</I>&#160;&#160;All questions as to the number of LCAPA
    shares to be accepted, the price that we will pay for the Shares
    that we accept and the validity, form, eligibility (including
    time of receipt) and acceptance for payment of any tender of
</DIV>

<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">
    <BR>
    14
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    Shares will be determined by us, in our sole discretion, and our
    determination will be final and binding on all parties (absent
    manifest error). We reserve the absolute right to reject any or
    all tenders of any Shares that we determine are not in proper
    form or the acceptance for payment of or payment for which we
    determine may be unlawful. We also reserve the absolute right to
    waive any of the conditions of the tender offer or any defect or
    irregularity in any tender; provided, that we will not waive any
    condition of the tender offer with respect to a tender unless we
    waive that condition for all tenders made in the tender offer.
    Our interpretation of the terms of the tender offer will be
    final and binding on all parties. No tender of Shares will be
    deemed to have been properly made until all defects or
    irregularities have been cured by the tendering stockholder or
    waived by us. None of Liberty Media, the depositary, the
    information agent, or any other person will be under any duty to
    give notification of any defects or irregularities in any tender
    or incur any liability for failure to give any such notification.
</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">
    <I>Tendering Stockholder&#146;s Representation and Warranty;
    Liberty Media&#146;s Acceptance Constitutes an
    Agreement.</I>&#160;&#160;A tender of LCAPA shares under any of
    the procedures described above will constitute the tendering
    stockholder&#146;s acceptance of the terms and conditions of the
    tender offer, as well as the tendering stockholder&#146;s
    representation and warranty to us that (1)&#160;the stockholder
    has a net long position in the Shares or equivalent securities
    at least equal to the Shares tendered within the meaning of
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    promulgated by the SEC under the Exchange Act and (2)&#160;the
    tender of Shares complies with
    <FONT style="white-space: nowrap">Rule&#160;14e-4.</FONT>
    It is a violation of
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    for a person, directly or indirectly, to tender shares for that
    person&#146;s own account unless, at the time of tender and at
    the end of the proration period or period during which shares
    are accepted by lot (including any extensions thereof), the
    person so tendering (1)&#160;has a net long position equal to or
    greater than the amount tendered in (x)&#160;the subject
    securities or (y)&#160;securities immediately convertible into,
    or exchangeable or exercisable for, the subject securities and
    (2)&#160;will deliver or cause to be delivered the shares in
    accordance with the terms of the tender offer.
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    provides a similar restriction applicable to the tender or
    guarantee of a tender on behalf of another person. Our
    acceptance for payment of shares tendered under the tender offer
    will constitute a binding agreement between the tendering
    stockholder and us upon the terms and conditions of the tender
    offer.
</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">
    <I>Lost or Destroyed Certificates.</I>&#160;&#160;If the share
    certificates which a registered stockholder wants to surrender
    have been lost, destroyed or stolen, the stockholder should
    follow the instructions set forth in the letter of transmittal.
    See Instruction&#160;15 of 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    CERTIFICATES FOR TENDERED SHARES, TOGETHER WITH A PROPERLY
    COMPLETED AND DULY EXECUTED LETTER OF TRANSMITTAL OR FACSIMILE
    THEREOF, OR AN AGENT&#146;S MESSAGE, AND ANY OTHER DOCUMENTS
    REQUIRED BY THE LETTER OF TRANSMITTAL, MUST BE DELIVERED TO THE
    DEPOSITARY AND NOT TO LIBERTY MEDIA OR THE INFORMATION AGENT.
    ANY SUCH DOCUMENTS DELIVERED TO LIBERTY MEDIA OR THE INFORMATION
    AGENT WILL NOT BE FORWARDED TO THE DEPOSITARY AND THEREFORE WILL
    NOT BE DEEMED TO BE PROPERLY TENDERED.
</DIV>
<A name='107'>
<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="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">4.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">WITHDRAWAL
    RIGHTS</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<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">
    Except as otherwise provided in this Section&#160;4, tenders of
    Shares under the tender offer are irrevocable. Shares tendered
    under the tender offer may be withdrawn at any time before the
    expiration date of the tender offer and, unless theretofore
    accepted for payment by us under the tender offer, may also be
    withdrawn at any time after 12:00&#160;Midnight, New York City
    time, on May&#160;1, 2007.
</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">
    For a withdrawal to be effective, a written or facsimile
    transmission notice of withdrawal must be timely received by the
    depositary at its address set forth on the back cover page of
    this offer to purchase. Any such notice of withdrawal must
    specify the name of the tendering stockholder, the number of
    Shares to be withdrawn and the name of the registered holder of
    such Shares. If the certificates for Shares to be withdrawn have
    been delivered or otherwise identified to the depositary, then,
    before the release of such certificates, the serial numbers
    shown on such certificates must be submitted to the depositary
    and the signature(s) on the notice of withdrawal must be
    guaranteed by an eligible guarantor institution, unless such
    Shares have been tendered for the account of an 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If Shares have been tendered under the procedure for book-entry
    transfer set forth in Section&#160;3, any notice of withdrawal
    also must specify the name and the number of the account at the
    book-entry transfer facility to be
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    15
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    credited with the withdrawn Shares and must otherwise comply
    with such book-entry transfer facility&#146;s procedures. All
    questions as to the form and validity (including the time of
    receipt) of any notice of withdrawal will be determined by us,
    in our sole discretion, which determination will be final and
    binding. None of us, the depositary, the information agent or
    any other person will be under any duty to give notification of
    any defects or irregularities in any notice of withdrawal or
    incur any liability for failure to give any such notification.
</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">
    Withdrawals may not be rescinded and any Shares properly
    withdrawn will thereafter be deemed not properly tendered for
    purposes of the tender offer unless the withdrawn Shares are
    properly re-tendered before the expiration date by following one
    of the procedures described in Section&#160;3.
</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 we extend the tender offer, we are delayed in our purchase of
    Shares or we are unable to purchase shares under the tender
    offer for any reason, then, without prejudice to our rights
    under the tender offer, the depositary may, subject to
    applicable law, retain tendered Shares on our behalf, and such
    shares may not be withdrawn except to the extent tendering
    stockholders are entitled to withdrawal rights as described in
    this Section&#160;4.
</DIV>
<A name='108'>
<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="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">5.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">PURCHASE
    OF SHARES&#160;AND PAYMENT OF PURCHASE PRICE</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<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">
    Upon the terms and subject to the conditions of the tender
    offer, promptly after the expiration date, we will determine the
    purchase price we will pay for the Shares properly tendered and
    not properly withdrawn before the expiration date of the tender
    offer, taking into account the number of Shares so tendered and
    the prices specified by tendering stockholders, and will accept
    for payment and pay for, and thereby purchase, Shares properly
    tendered at prices at or below the purchase price so determined
    and not properly withdrawn prior to such 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For purposes of the tender offer, we will be deemed to have
    accepted for payment, and therefore purchased, Shares that are
    properly tendered at prices at or below the purchase price and
    are not properly withdrawn, subject to the &#147;odd lot&#148;
    priority, proration and conditional tender provisions of the
    tender offer, only when, as and if we give oral or written
    notice to the depositary of our acceptance of such Shares for
    payment under the tender offer.
</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">
    Upon the terms and subject to the conditions of the tender
    offer, promptly after the expiration date, we will accept for
    payment and pay a single per share purchase price not greater
    than $113.00 or less than $105.00&#160;per share for 8,849,500
    LCAPA shares, subject to increase or decrease as provided in
    Section&#160;14, if properly tendered and not properly
    withdrawn, or such fewer number of LCAPA shares as are properly
    tendered and not properly withdrawn.
</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">
    We will pay for Shares purchased under the tender offer by
    depositing the aggregate purchase price for such Shares with the
    depositary, which will act as agent for tendering stockholders
    for the purpose of receiving payment from us and transmitting
    payment to the tendering stockholders.
</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">
    In the event of proration in connection with the tender offer,
    we will determine the proration factor and pay for those
    tendered Shares accepted for payment pursuant to the tender
    offer promptly after the expiration date; however, we do not
    expect to be able to announce the final results of any proration
    and commence payment for Shares purchased until approximately
    five to seven business days after such expiration date.
    Certificates for all Shares tendered and not purchased,
    including all Shares tendered at prices greater than the
    purchase price and Shares not purchased due to proration or
    conditional tender, will be returned to the tendering
    stockholder, or, in the case of Shares tendered by book-entry
    transfer, will be credited to the account maintained with the
    book-entry transfer facility by the participant therein who so
    delivered the Shares, at our expense, promptly after the
    expiration date or termination of the tender offer without
    expense to the tendering stockholders. UNDER NO CIRCUMSTANCES
    WILL INTEREST ON THE PURCHASE PRICE BE PAID BY US REGARDLESS OF
    ANY DELAY IN MAKING SUCH PAYMENT. In addition, if certain events
    occur prior to the expiration date for the tender offer, we may
    not be obligated to purchase Shares under the tender offer. See
    Section&#160;7.
</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">
    We will pay all stock transfer taxes, if any, payable on the
    transfer to us of Shares purchased under the tender offer. If,
    however, payment of the purchase price is to be made to any
    person other than the registered holder, or if tendered
    certificates are registered in the name of any person other than
    the person signing the letter of transmittal, the amount of all
    stock transfer taxes, if any (whether imposed on the registered
    holder or the other person), payable on account of the transfer
    to the person will be deducted from the purchase price unless
    satisfactory evidence of the payment of the stock transfer
    taxes, or exemption therefrom, is submitted.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    16
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<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    ANY TENDERING STOCKHOLDER OR OTHER PAYEE WHO FAILS TO COMPLETE
    FULLY, SIGN AND RETURN TO THE DEPOSITARY THE SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT>
    INCLUDED WITH THE LETTER OF TRANSMITTAL MAY BE SUBJECT TO
    FEDERAL INCOME TAX BACKUP WITHHOLDING OF 28% OF THE GROSS
    PROCEEDS PAID TO THE STOCKHOLDER OR OTHER PAYEE UNDER THE TENDER
    OFFER. SEE SECTION&#160;3. ALSO SEE SECTION&#160;13 REGARDING
    UNITED STATES FEDERAL INCOME TAX CONSEQUENCES FOR FOREIGN
    STOCKHOLDERS.
</DIV>
<A name='109'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

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

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">6.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">CONDITIONAL
    TENDER OF SHARES.</FONT></B>
</TD>
</TR>

</TABLE>

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

</FONT></DIV>
</A>
<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">
    Subject to the limited exception for holders of odd lots, in the
    event of an over-subscription of the tender offer, LCAPA shares
    tendered at or below the purchase price prior to the expiration
    date will be subject to proration. See Section&#160;1. In order
    to avoid (in full or in part) possible proration, a stockholder
    may tender Shares subject to the condition that we must purchase
    a specified minimum number of the stockholder&#146;s Shares
    tendered pursuant to a letter of transmittal if we purchase any
    Shares tendered. Any stockholder desiring to make a conditional
    tender must so indicate in the box entitled &#147;Conditional
    Tender&#148; in the letter of transmittal and indicate the
    minimum number of Shares that we must purchase if we purchase
    any Shares. We urge each stockholder to consult with his or her
    own financial or tax advisors with respect to such election.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    After the expiration date, if more than 8,849,500 LCAPA shares
    (or such greater number of Shares as we may elect to purchase,
    subject to applicable law) are properly tendered and not
    properly withdrawn, so that we must prorate our acceptance of
    and payment for such tendered Shares, we will calculate a
    preliminary proration percentage with respect to such Shares
    based upon all of such Shares properly tendered, conditionally
    or unconditionally. If the effect of this preliminary proration
    would be to reduce the number of Shares that we purchase from
    any stockholder below the minimum number specified, the Shares
    conditionally tendered will automatically be regarded as
    withdrawn (except as provided in the next paragraph). All Shares
    tendered by a stockholder subject to a conditional tender that
    are withdrawn as a result of proration will be returned at our
    expense to the tendering stockholder.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    After giving effect to these withdrawals, we will accept the
    remaining Shares properly tendered, conditionally or
    unconditionally, on a pro rata basis, if necessary. If
    conditional tenders that would otherwise be regarded as
    withdrawn would cause the total number of LCAPA shares that we
    purchase to fall below 8,849,500 (or such greater number of
    Shares as we may elect to purchase, subject to applicable law)
    then, to the extent feasible, we will select enough of the
    Shares conditionally tendered that would otherwise have been
    withdrawn to permit us to purchase such number of Shares. In
    selecting among the conditional tenders, we will select by
    random lot, treating all tenders by a particular taxpayer as a
    single lot, and will limit our purchase in each case to the
    designated minimum number of Shares to be purchased. To be
    eligible for purchase by random lot, stockholders whose Shares
    are conditionally tendered must have tendered all of their
    shares.
</DIV>

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

</FONT></DIV>

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

</FONT></DIV>
<A name='110'>
<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="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">7.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">CONDITIONS
    OF THE TENDER OFFER</FONT></B>
</TD>
</TR>

</TABLE>

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

</FONT></DIV>
</A>
<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">
    Notwithstanding any other provision of the tender offer, and in
    addition to (and not in limitation of) our rights to extend
    <FONT style="white-space: nowrap">and/or</FONT> amend
    the tender offer at any time, we will not be required to accept
    for payment, purchase or pay for any Shares tendered, and may
    terminate the tender offer or may postpone the acceptance for
    payment of, or the purchase of and the payment for Shares
    tendered, subject to
    <FONT style="white-space: nowrap">Rule&#160;13e-4(f)</FONT>
    under the Exchange Act, if at any time on or after the date of
    this offer to purchase and at or before the expiration date for
    the tender offer, any of the following events shall have
    occurred (or have been reasonably determined by us to have
    occurred):
</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">
    (a)&#160;there shall have been threatened, instituted or pending
    any action or proceeding by any governmental, regulatory or
    administrative agency or authority or tribunal, domestic or
    foreign, or by any other person, domestic or foreign, before any
    court or governmental, regulatory, or administrative authority
    or agency or tribunal, domestic or foreign, 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">
    (1)&#160;challenges or seeks to make illegal, or to delay or
    otherwise directly or indirectly to restrain or prohibit the
    making of the tender offer, the acquisition of any shares
    pursuant to the tender offer, or consummation of the tender
    offer;&#160;or
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    17
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<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">
    (2)&#160;could reasonably be expected to (i)&#160;have a
    material adverse effect on the business, condition (financial or
    other), assets, income, operations or prospects of (x)&#160;our
    company and our subsidiaries, taken as a whole, (y)&#160;those
    assets and businesses attributed to Liberty Capital, taken as a
    whole, or (z)&#160;those assets and businesses attributed to
    Liberty Interactive, taken as a whole, or (ii)&#160;materially
    impair the contemplated benefits of the tender offer to us;
</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">
    (b)&#160;there shall have been any action threatened, pending or
    taken, or any approval withheld, or any statute, rule,
    regulation, judgment, order or injunction threatened, invoked,
    proposed, sought, promulgated, enacted, entered, amended,
    enforced or deemed to apply to the tender offer or to our
    company or any of its subsidiaries by any court or any
    government or governmental, regulatory, or administrative agency
    or authority or tribunal, domestic or foreign, which, in our
    sole judgment, acting reasonably, would or might directly or
    indirectly result in any of the consequences referred to in
    clause&#160;(1) or (2)&#160;of paragraph&#160;(a)&#160;above;
</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">
    (c)&#160;there shall have occurred:
</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">
    (1)&#160;the declaration of any banking moratorium or suspension
    of payments in respect of banks by federal or state authorities
    in the United States (whether or not mandatory);
</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">
    (2)&#160;any general suspension of trading in, or a limitation
    on prices for, securities on any national securities exchange or
    market in the United States for more than three hours;
</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">
    (3)&#160;the commencement of a war, act of terrorism, armed
    hostilities, or any other national or international crisis
    directly or indirectly involving the United States or any other
    country in which any of our subsidiaries does 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">
    (4)&#160;any limitation (whether or not mandatory) by any
    governmental, regulatory, or administrative agency or authority
    on the extension of credit by banks or other lending
    institutions in the United States or any other country in which
    any of our subsidiaries do 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">
    (5)&#160;any change in the general political, market, economic,
    or financial conditions in the United States or any other
    country in which any of our subsidiaries do business that could
    reasonably be expected to have a material adverse effect on the
    business, condition (financial or otherwise), income,
    operations, or prospects of (x)&#160;our company and our
    subsidiaries, taken as a whole, (y)&#160;those assets and
    businesses attributed to Liberty Capital, taken as a whole, or
    (z)&#160;those assets and businesses attributed to Liberty
    Interactive, taken as a whole;
</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">
    (6)&#160;any suspension of, or limitation on, the markets for
    U.S.&#160;dollars or other currency in which any material bank
    loan of Liberty Media or any of its subsidiaries is denominated,
    or any material change in the exchange rates of such currencies
    that could reasonably be expected to have a material adverse
    effect on the business, condition (financial or otherwise),
    income, operations, or prospects of (x)&#160;our company and our
    subsidiaries, taken as a whole, (y)&#160;those assets and
    businesses attributed to Liberty Capital, taken as a whole, or
    (z)&#160;those assets and businesses attributed to Liberty
    Interactive, taken as a whole;
</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">
    (7)&#160;in the case of any of the above conditions existing at
    the date of this offer to purchase, in our reasonable judgment,
    a material acceleration or worsening of it;&#160;or
</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: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (8)&#160;any decrease (i)&#160;in the market price of the LCAPA
    shares on the Nasdaq Global Select Market or (ii)&#160;in the
    Nasdaq Composite Index, the New York Stock Exchange Index, the
    Dow Jones Industrial Average, or the S&#38;P 500 Composite
    Index, in each case by an amount in excess of 10% during any
    period between the commencement of the tender offer on
    March&#160;7, 2007 and the expiration date of the tender offer;
</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">
    (d)&#160;any change or changes shall have occurred or been
    threatened or anticipated in the business, condition (financial
    or otherwise), assets, liabilities, income, operations, share
    ownership, or prospects of our company or any of our
    subsidiaries, that could reasonably be expected to have a
    material adverse effect on (x)&#160;us and our subsidiaries,
    taken as a whole, (y)&#160;those assets and businesses
    attributed to Liberty Capital, taken as a whole or
    (z)&#160;those assets and businesses attributed to Liberty
    Interactive, taken as a whole;
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    18
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<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">
    (e)&#160;a tender or exchange offer for any or all of the shares
    of our common stock (other than this tender offer), or any
    merger, business combination, or other similar transaction with
    or involving our company, shall have been publicly proposed,
    announced or made by any person;
</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">
    (f)&#160;any entity, &#147;group&#148; (as that term is used in
    Section&#160;13(d)(3) of the Exchange Act) or person (other than
    entities, groups or persons who have filed with the Commission
    before March&#160;7, 2007 a Schedule&#160;13G or a
    Schedule&#160;13D with respect to any of the shares of our
    common stock) shall have acquired, or proposed to acquire,
    beneficial ownership of more than 5% of the outstanding shares
    of our common stock;
</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">
    (g)&#160;any entity, group, or person who has filed with the SEC
    on or before the date of this offer to purchase a
    Schedule&#160;13G or a Schedule 13D with respect to any shares
    of our common stock shall have acquired, or proposed to acquire,
    beneficial ownership of additional shares constituting more than
    2% of the outstanding shares of our common stock or shall have
    been granted any option or right to acquire beneficial ownership
    of more than 2% of the outstanding shares of our common stock;
</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">
    (h)&#160;any entity, person or group shall have filed a
    Notification and Report Form under the
    <FONT style="white-space: nowrap">Hart-Scott-Rodino</FONT>
    Antitrust&#160;Improvements Act of 1976, or made a public
    announcement reflecting an intent to acquire shares of our
    common stock;&#160;or
</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">
    (i)&#160;any approval, permit, authorization, favorable review
    or consent of any United States or foreign governmental,
    regulatory, or administrative agency or authority or any third
    party consents required to be obtained in connection with the
    tender offer shall not have been obtained on terms satisfactory
    to us, in our sole judgment, acting reasonably.
</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 foregoing conditions are for our sole benefit and may be
    asserted by us regardless of the circumstances giving rise to
    any such condition, and may be waived by us, in whole or in part
    at any time prior to the expiration date, in our sole
    discretion. Our failure at any time to exercise any of the
    foregoing rights shall not be deemed a waiver of any such right,
    and each such right shall be deemed an ongoing right, which may
    be asserted by us at any time, in our sole discretion, prior to
    the expiration date. Any determination or judgment by us
    concerning the events described above will be final and binding
    on all parties.
</DIV>
<A name='111'>
<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="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">8.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">PRICE
    RANGE OF SHARES</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<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">
    On May&#160;9, 2006, we completed a restructuring pursuant to
    which we were organized as a new holding company, and we became
    the new publicly traded parent company of Liberty Media LLC,
    which was formerly known as Liberty Media Corporation, and which
    we refer to as &#147;Old Liberty&#148;. As a result of the
    restructuring, all of the Old Liberty outstanding common stock
    was exchanged for our two new tracking stocks, Liberty
    Interactive common stock and Liberty Capital common stock. Each
    tracking stock issued in the restructuring is intended to track
    and reflect the economic performance of one of two designated
    groups, Liberty Interactive and Liberty Capital, respectively.
    We are the successor reporting company to Old Liberty.
</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 restructuring, we issued our tracking stocks,
    Liberty Capital Series&#160;A and Series&#160;B common stock
    (LCAPA and LCAPB) and Liberty Interactive Series&#160;A and
    Series&#160;B common stock (LINTA and LINTB), on May&#160;10,
    2006. Holders of our common stock received .25 of a share of
    LINTA and .05 of a share of LCAPA for each share of Old Liberty
    Series&#160;A common stock held and .25 of a share of LINTB and
    .05 of a share of LCAPB for each share of Old Liberty
    Series&#160;B common stock held.
</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">
    Our LCAPA shares trade on the Nasdaq Global Select Market under
    the symbol &#147;LCAPA&#148;. Regular trading in the shares
    began on May&#160;10, 2006. Prior to May&#160;10, 2006, Old
    Liberty&#146;s Series&#160;A common stock traded on the New
</DIV>

<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">
    <BR>
    19
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<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">
     York Stock Exchange under the symbol &#147;L&#148;. The
    following table sets forth the range of high and low sales
    prices of LCAPA shares and Old Liberty Series&#160;A common
    stock for the years ended December&#160;31, 2006 and 2005.
</DIV>

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

</FONT></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="86%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Old Liberty Series&#160;A<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Year Ended December&#160;31, 2005
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">First Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.93
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.97
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Second Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Third Quarter (through
    July&#160;20, 2005)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.89
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    <FONT style="font-size: 10pt">July 21 through September&#160;30,
    2005
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.98
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Fourth Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8.18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.59
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Year Ended December&#160;31, 2006
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">First Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8.44
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.73
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Second Quarter (through
    May&#160;9, 2006)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8.76
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.20
</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="margin-top: 12pt; 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="86%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Liberty Capital Series&#160;A<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Year Ended December&#160;31, 2006
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Second Quarter (May&#160;10, 2006,
    through June&#160;30, 2006)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    83.95
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    77.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Third Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    87.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    80.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Fourth Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    98.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    83.32
</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 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">
    On February&#160;27, 2007, the last full trading day prior to
    our initial public announcement of the tender offer, the closing
    sale price for the LCAPA shares on the Nasdaq Global Select
    Market was $103.71. Stockholders are urged to obtain current
    market quotations for their LCAPA shares.
</DIV>

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

</FONT></DIV>
<A name='112'>
<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="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">9.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">SOURCE
    AND AMOUNT OF FUNDS</FONT></B>
</TD>
</TR>

</TABLE>

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

</FONT></DIV>
</A>
<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">
    Assuming that 8,849,500 LCAPA shares are purchased in the tender
    offer at a price between $105.00 and $113.00&#160;per share, the
    aggregate purchase price for the Shares purchased in the tender
    offer will be between $929,197,500 and $999,993,500.
</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">
    We anticipate that we will pay for Shares tendered in the tender
    offer and accepted by us, and all expenses attributable to the
    tender offer, from our cash on hand or other cash resources that
    are readily available to us and which are attributed to Liberty
    Capital. The tender offer is not conditioned on the receipt of
    financing.
</DIV>
<A name='113'>
<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="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">CERTAIN
    INFORMATION ABOUT US</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<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">
    Through our ownership of interests in subsidiaries and other
    companies, we are primarily engaged in the video and on-line
    commerce, media, communications and entertainment industries.
    Through our subsidiaries, we operate in North America, Europe
    and Asia. Our principal businesses and assets include QVC, Inc.
    and Starz, LLC, and interests in IAC/InterActiveCorp, Expedia,
    Inc. and News Corporation.
</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">
    On May&#160;9, 2006, we completed a restructuring pursuant to
    which we were organized as a new holding company, and we became
    the new publicly traded parent company of Old Liberty. As a
    result of the restructuring, all of the Old Liberty outstanding
    common stock was exchanged for our two new tracking stocks,
    Liberty Interactive common stock and Liberty Capital common
    stock. Each tracking stock issued in the restructuring is
    intended to track and reflect the economic performance of one of
    two newly designated groups, the Interactive Group and the
    Capital Group, respectively. We are the successor reporting
    company to Old Liberty.
</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">
    A tracking stock is a type of common stock that the issuing
    company intends to reflect or &#147;track&#148; the economic
    performance of a particular business or &#147;group,&#148;
    rather than the economic performance of the company as a whole.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    20
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    While Liberty Capital and Liberty Interactive have separate
    collections of businesses, assets and liabilities attributed to
    them, neither group is a separate legal entity and therefore
    cannot own assets, issue securities or enter into legally
    binding agreements. Holders of tracking stocks have no direct
    claim to the group&#146;s stock or assets and are not
    represented by separate boards of directors. Instead, holders of
    tracking stock are stockholders of the parent corporation, with
    a single board of directors and subject to all of the risks and
    liabilities of the parent corporation.
</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 term &#147;Liberty Capital&#148; does not represent a
    separate legal entity, rather it represents those businesses,
    assets and liabilities which we have attributed to that group.
    The assets and businesses attributed to Liberty Capital include
    our subsidiaries: Starz Entertainment, LLC, Starz Media, LLC,
    TruePosition, Inc., FUN Technologies, Inc. and On Command
    Corporation; our equity affiliates: GSN, LLC and WildBlue
    Communications, Inc.; and our interests in News Corporation,
    Time Warner Inc. and Sprint Nextel Corporation, and hereafter
    will include such other businesses, assets and liabilities that
    our board of directors may in the future determine to attribute
    to Liberty Capital, including such other businesses and assets
    as we may acquire for Liberty Capital. In addition, we have
    attributed $4.58&#160;billion principal amount (as of
    December&#160;31, 2006)&#160;of our existing publicly traded
    debt to Liberty Capital.
</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 term &#147;Liberty Interactive&#148; also does not represent
    a separate legal entity, rather it represents all of our
    businesses, assets and liabilities other than those which have
    been attributed to Liberty Capital. The assets and businesses we
    have attributed to Liberty Interactive are those engaged in
    video and on-line commerce, and include our interests in
    subsidiaries QVC, Inc., Provide Commerce, Inc., and BuyCustomes,
    Inc., and our interests in Expedia, Inc. and
    IAC/InterActiveCorp, and hereafter will include such other
    businesses, assets and liabilities that our board of directors
    may in the future determine to attribute to Liberty Interactive,
    including such other businesses and assets as we may acquire for
    Liberty Interactive. In addition, we have attributed
    $3.11&#160;billion principal amount (as of December&#160;31,
    2006)&#160;of our existing publicly traded debt to Liberty
    Interactive.
</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">
    Our principal executive offices are located at 12300 Liberty
    Boulevard, Englewood, Colorado 80112, and our telephone number
    at that address is
    <FONT style="white-space: nowrap">(720)&#160;875-5400.</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">
    <I>Where you can find more information about
    us.</I>&#160;&#160;We have filed with the SEC a Tender Offer
    Statement on Schedule&#160;TO, which includes additional
    information about the tender offer. This offer to purchase does
    not contain all the information included in the
    Schedule&#160;TO. We are subject to the information and
    reporting requirements of the Exchange Act and, in accordance
    with the Exchange Act, file periodic reports and other
    information with the SEC. You may read and copy any document
    that we file with the SEC at the Public Reference Room of the
    SEC at 100 F Street, NE, Washington,&#160;D.C. 20549. You may
    obtain information on the operation of the Public Reference Room
    by calling the SEC at (800)&#160;SEC-0330. You may also inspect
    such filings on the Internet website maintained by the SEC at
    www.sec.gov.
</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>Incorporation by reference.</I>&#160;&#160;The rules of the
    SEC allow us to &#147;incorporate by reference&#148; information
    into this offer to purchase, which means that we can disclose
    important information about us to you by referring you to other
    documents that we file with the SEC. The information
    incorporated by reference is an important part of this offer to
    purchase, and is deemed to be part hereof except to the extent
    any such information is modified or superseded by information in
    this offer to purchase or in any other document expressly
    incorporated herein (whether specified below or in any amendment
    to the Schedule&#160;TO) that has a later date. We incorporate
    by reference the following documents, previously filed with the
    SEC by us:
</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>    &#149;&#160;
</TD>
    <TD align="left">
    our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the fiscal year ended December&#160;31, 2006, filed on
    March&#160;1, 2007;&#160;and
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on January&#160;5, 2007.
</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">
    You can obtain any of the documents incorporated by reference in
    this offer to purchase from the SEC&#146;s website at the
    Internet address provided above. You may also obtain any of the
    foregoing documents from us without charge, excluding any
    exhibits to those documents, by requesting them in writing at
    12300 Liberty Boulevard, Englewood, CO 80112, attention:
    Investor Relations, or by calling Investor Relations at
    <FONT style="white-space: nowrap">(720)&#160;875-5400.</FONT>
    Please be sure to include your complete name and address in your
    request.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    21
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->
<A name='114'>
<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="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">11.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">INTERESTS
    OF DIRECTORS AND EXECUTIVE OFFICERS; TRANSACTIONS AND
    ARRANGEMENTS CONCERNING THE SHARES</FONT></B>
</TD>
</TR>

</TABLE>

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

</FONT></DIV>
</A>
<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">
    As of January&#160;31, 2007, we had outstanding 134,503,546
    LCAPA shares, 6,014,680 shares of Liberty Capital Series&#160;B
    common stock (LCAPB shares), 622,365,227&#160;shares of Liberty
    Interactive Series&#160;A common stock (LINTA shares) and
    29,971,039&#160;shares of Liberty Interactive Series&#160;B
    common stock (LINTB shares). The 8,849,500 LCAPA shares that we
    are offering to purchase in the tender offer represent
    approximately 6.6% of the aggregate outstanding LCAPA shares on
    that date. The Shares we are offering to purchase in the tender
    offer represent approximately 1.1% of our total outstanding
    shares of common stock. As of January&#160;31, 2007, 2,256,275
    LCAPA shares, 1,498,263 LCAPB shares, 21,484,911&#160;LINTA
    shares and 7,491,314&#160;shares of LINTB shares were subject to
    outstanding awards of stock options and stock appreciation
    rights.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Shares Ownership by Directors and Executive
    Officers.</I>&#160;&#160;Our directors and executive officers
    have advised us that they do not intend to tender any LCAPA
    shares beneficially owned by them in the tender offer. Because
    the directors and executive officers will not be tendering any
    of their LCAPA shares in the tender offer if we complete the
    tender offer, the proportional holdings of our directors and
    executive officers in our company will increase. However, our
    directors and executive officers may, in compliance with
    applicable law, sell their LCAPA shares in open market
    transactions at prices that may or may not be more favorable
    than the purchase price to be paid to our stockholders in the
    tender offer. The following table sets forth information with
    respect to the beneficial ownership by each of our directors and
    each of the executive officers named below and by all of our
    directors and executive officers as a group of (1)&#160;LCAPA
    shares, (2)&#160;LCAPB shares, (3)&#160;LINTA shares and
    (4)&#160;LINTB shares. The security ownership information is
    given as of January&#160;31, 2007, and, in the case of
    percentage ownership information, is based upon
    (1)&#160;134,503,546 LCAPA shares, (2)&#160;6,014,680 LCAPB
    shares, (3)&#160;622,365,227 LINTA shares and
    (4)&#160;29,971,039 LINTB shares, in each case outstanding on
    that date. Our LCAPA shares and LINTA shares entitle holders to
    one vote per share and our LCAPB shares and LINTB shares entitle
    holders to ten votes per share.
</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">
    Shares of common stock issuable on or within 60&#160;days after
    January&#160;31, 2007, upon exercise of options, conversion of
    convertible securities or exchange of exchangeable securities,
    are deemed to be outstanding and to be beneficially owned by the
    person holding the options, convertible or exchangeable
    securities for the purpose of computing the percentage ownership
    of that person, but are not treated as outstanding for the
    purpose of computing the percentage ownership of any other
    person. For purposes of the following presentation, beneficial
    ownership of shares of our LCAPB and LINTB, though convertible
    on a
    <FONT style="white-space: nowrap">one-for-one</FONT>
    basis into shares of LCAPA and LINTA, respectively, is reported
    as beneficial ownership of shares of LCAPB or LINTB, as the case
    may be, only, and not as beneficial ownership of shares of LCAPA
    or LINTA.
</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">
    So far as is known to us, the persons indicated below have sole
    voting power with respect to the shares indicated as owned by
    them, except as otherwise stated in the notes to the table. The
    number of shares indicated as owned by our executive officers
    and directors include interests in shares held by the 401(k)
    Plan as of January&#160;31, 2007. The shares held by the trustee
    of the 401(k) Plan for the benefit of these persons are voted as
    directed by such persons.
</DIV>

<DIV style="margin-top: 3pt; 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="42%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="8%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Percent<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Amount and Nature of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Voting<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name and Principal Occupation with Our Company</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 of Series</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Beneficial Ownership</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>Series</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>Power</B>
</DIV>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">John C. Malone
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    807
</TD>
<TD nowrap align="left" valign="bottom">
    (1)(2)(3)(4)(5)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">31.5%
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Chairman of the Board
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,964
</TD>
<TD nowrap align="left" valign="bottom">
    (1)(5)(6)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">90%
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,999
</TD>
<TD nowrap align="left" valign="bottom">
    (1)(2)(3)(4)(5)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,820
</TD>
<TD nowrap align="left" valign="bottom">
    (1)(5)(6)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">90%
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Robert R. Bennett
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    291
</TD>
<TD nowrap align="left" valign="bottom">
    (7)(8)(9)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">4.4%
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Director
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    834
</TD>
<TD nowrap align="left" valign="bottom">
    (8)(9)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">12.2%
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,453
</TD>
<TD nowrap align="left" valign="bottom">
    (7)(8)(9)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,170
</TD>
<TD nowrap align="left" valign="bottom">
    (8)(9)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Donne F. Fisher
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16
</TD>
<TD nowrap align="left" valign="bottom">
    (10)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Director
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81
</TD>
<TD nowrap align="left" valign="bottom">
    (10)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    149
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    22
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></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="42%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="8%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Percent<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Amount and Nature of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Voting<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name and Principal Occupation with Our Company</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 of Series</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Beneficial Ownership</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>Series</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>Power</B>
</DIV>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Paul A. Gould
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76
</TD>
<TD nowrap align="left" valign="bottom">
    (11)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Director
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    401
</TD>
<TD nowrap align="left" valign="bottom">
    (11)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    150
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Gregory B. Maffei
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86
</TD>
<TD nowrap align="left" valign="bottom">
    (4)(12)(13)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Director, President and
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Chief Executive Officer
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    493
</TD>
<TD nowrap align="left" valign="bottom">
    (4)(12)(13)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">David E. Rapley
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (10)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Director
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10
</TD>
<TD nowrap align="left" valign="bottom">
    (10)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">M. LaVoy Robison
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (10)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Director
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10
</TD>
<TD nowrap align="left" valign="bottom">
    (10)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Larry E. Romrell
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD nowrap align="left" valign="bottom">
    (10)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Director
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65
</TD>
<TD nowrap align="left" valign="bottom">
    (10)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">David J.A. Flowers
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    116
</TD>
<TD nowrap align="left" valign="bottom">
    (14)(15)(16)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Senior Vice President and Treasurer
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    574
</TD>
<TD nowrap align="left" valign="bottom">
    (14)(15)(16)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Albert E. Rosenthaler
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    49
</TD>
<TD nowrap align="left" valign="bottom">
    (17)(18)(19)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Senior Vice President
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    237
</TD>
<TD nowrap align="left" valign="bottom">
    (17)(18)(19)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Christopher W. Shean
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43
</TD>
<TD nowrap align="left" valign="bottom">
    (20)(21)(22)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Senior Vice President, Controller
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    206
</TD>
<TD nowrap align="left" valign="bottom">
    (20)(21)(22)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Charles Y. Tanabe
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    140
</TD>
<TD nowrap align="left" valign="bottom">
    (23)(24)(25)(26)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Executive Vice President, Secretary
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">and General Counsel
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    688
</TD>
<TD nowrap align="left" valign="bottom">
    (23)(24)(25)(26)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">*
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">All directors and executive
    officers as a group (12&#160;persons)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,639
</TD>
<TD nowrap align="left" valign="bottom">
    (3)(9)(27)(28)(29)(30)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">1.2%
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">34.9%
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LCAPB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,859
</TD>
<TD nowrap align="left" valign="bottom">
    (6)(9)(28)(30)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">92.0%
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTA
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,217
</TD>
<TD nowrap align="left" valign="bottom">
    (3)(9)(27)(28)(29)(30)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">1.3%
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-size: 10pt">LINTB
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,290
</TD>
<TD nowrap align="left" valign="bottom">
    (6)(9)(28)(30)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">92.3%
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" 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 style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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

<DIV style="margin-top: 3pt; 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="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    Less than one percent</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 75,252 LCAPA shares, 170,471 LCAPB shares, 376,260
    LINTA shares and 852,358 LINTB shares, held by
    Mr.&#160;Malone&#146;s wife, Mrs.&#160;Leslie Malone, as to
    which shares Mr.&#160;Malone has disclaimed beneficial ownership.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 38,405 LCAPA shares and 192,034 LINTA shares and held
    by the Liberty 401(k) Savings Plan.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 165 LCAPA shares and 825 LINTA shares held by a trust
    with respect to which Mr.&#160;Malone is the sole trustee and,
    with his wife, retains a unitrust interest in the trust.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    23
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<DIV style="margin-top: 3pt; 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="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 12,672 restricted LCAPA shares and 29,078 restricted
    LINTA shares, none of which were vested on January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 3,333 LCAPA shares, 604,267
    LCAPB shares, 16,665 LINTA shares and 3,021,336 LINTB shares,
    which may be acquired upon exercise of stock options exercisable
    within 60&#160;days after January&#160;31, 2007. Mr.&#160;Malone
    has the right to convert the options to purchase LCAPB shares
    and LINTB shares into options to purchase LCAPA shares and LINTA
    shares, respectively.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    In February 1998, in connection with the settlement of certain
    legal proceedings relative to the Estate of Bob Magness, the
    late founder and former Chairman of the Board the former parent
    company, TCI, of our predecessor company, TCI entered into a
    call agreement with Mr.&#160;Malone and Mr.&#160;Malone&#146;s
    wife. In connection with AT&#38;T&#146;s acquisition of TCI, TCI
    assigned to our predecessor its rights under this call
    agreement. We succeeded to these rights in connection with the
    2006 restructuring. As a result, we have the right, under
    certain circumstances, to acquire LCAPB shares and LINTB shares
    owned by the Malones. The call agreement also prohibits the
    Malones from disposing of their LCAPB shares and LINTB shares,
    except for certain exempt transfers (such as transfers to
    related parties or to the other group or public sales of up to
    an aggregate of 5% of their shares of LCAPB or LINTB after
    conversion to shares of LCAPA or LINTA, respectively) and except
    for a transfer made in compliance with our call rights.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 1,720 LCAPA shares and 8,598 LINTA shares held by the
    Liberty 401(k) Savings Plan.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (8) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 101,282 LCAPA shares, 833,993
    LCAPB shares, 506,410 LINTA shares and 4,169,963 LINTB shares,
    which may be acquired upon exercise of, or which relate to,
    stock options and stock appreciation rights exercisable within
    60&#160;days after January&#160;31, 2007. Mr.&#160;Bennett has
    the right to convert the options to purchase LCAPB shares and
    LINTB shares into options to purchase LCAPA shares and LINTA
    shares, respectively.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (9) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 62,329 LCAPA shares, 20 LCAPB shares, 311,649 LINTA
    shares and 100 LINTB shares, owned by Hilltop Investments, Inc.
    which is jointly owned by Mr.&#160;Bennett and his wife,
    Mrs.&#160;Deborah Bennett.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (10) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 1,650 LCAPA shares and 8,250
    LINTA shares, which may be acquired upon exercise of, or which
    relate to, stock options and stock appreciation rights
    exercisable within 60&#160;days after January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (11) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 2,088 LCAPA shares and 10,438
    LINTA shares, which may be acquired upon exercise of, or which
    relate to, stock options and stock appreciation rights
    exercisable within 60&#160;days after January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (12) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 72,656 LCAPA shares and 363,281
    LINTA shares, which may be acquired upon exercise of stock
    options exercisable within 60&#160;days after January&#160;31,
    2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (13) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 359 LCAPA shares and 592 LINTA shares held by the
    Liberty 401(k) Savings Plan.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (14) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 792 LCAPA shares and 3,967 LINTA shares held by the
    Liberty 401(k) Savings Plan.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (15) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 1,871 restricted LCAPA shares and 4,300 restricted
    LINTA shares, none of which were vested on January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (16) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 92,691 LCAPA shares and 463,643
    LINTA shares, which may be acquired upon exercise of, or which
    relate to, stock options and stock appreciation rights
    exercisable within 60&#160;days after January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (17) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 438 LCAPA shares and 2,194 LINTA shares held by the
    Liberty 401(k) Savings Plan.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (18) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 2,152 restricted LCAPA shares and 4,965 restricted
    LINTA shares, none of which were vested on January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (19) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 46,026 LCAPA shares and 230,127
    LINTA shares, which may be acquired upon exercise of, or which
    relate to, stock options and stock appreciation rights
    exercisable within 60&#160;days after January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (20) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 914 LCAPA shares and 4,570 LINTA shares held by the
    Liberty 401(k) Savings Plan.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (21) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 4,286 restricted LCAPA shares and 14,557 restricted
    LINTA shares, none of which were vested on January&#160;31, 2007.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    24
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<DIV style="margin-top: 3pt; 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="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (22) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 36,849 LCAPA shares and 182,248
    LINTA shares, which may be acquired upon exercise of, or which
    relate to, stock options and stock appreciation rights
    exercisable within 60&#160;days after January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (23) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 491 LCAPA shares and 2,454 LINTA shares held by the
    Liberty 401(k) Savings Plan.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (24) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 5,805 restricted LCAPA shares and 18,059 restricted
    LINTA shares, none of which were vested on January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (25) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 153 LCAPA shares and 767 LINTA shares held by
    Mr.&#160;Tanabe&#146;s wife, Arlene Bobrow, as to which shares
    Mr.&#160;Tanabe has disclaimed beneficial ownership.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (26) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 118,260 LCAPA shares and
    591,299 LINTA shares, which may be acquired upon exercise of, or
    which relate to, stock options and stock appreciation rights
    exercisable within 60&#160;days after January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (27) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 43,119 LCAPA shares and 214,409 LINTA shares held by
    the Liberty 401(k) Savings Plan.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (28) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 75,405 LCAPA shares, 170,471 LCAPB shares, 377,027
    LINTA shares and 852,358 LINTB shares, held by relatives of
    certain directors and executive officers, as to which shares
    beneficial ownership by such directors and executive officers
    has been disclaimed.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (29) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 39,458 restricted LCAPA shares and 100,037 restricted
    LINTA shares, none of which were vested on January&#160;31, 2007.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (30) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes beneficial ownership of 479,785 LCAPA shares, 1,438,260
    LCAPB shares, 2,397,111 LINTA shares and 7,191,299 LINTB shares,
    which may be acquired upon exercise of, or which relate to,
    stock options and stock appreciation rights exercisable within
    60&#160;days after January&#160;31, 2007.</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">
    <I>Change in Control.</I>&#160;&#160;We know of no arrangements,
    including any pledge by any person of our securities, the
    operation of which may at a subsequent date result in a change
    in control of our company.
</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>Stock Repurchase Programs.</I>&#160;&#160;Our board of
    directors has authorized the repurchase of up to $2&#160;billion
    of outstanding Liberty Interactive common stock and up to
    $1&#160;billion of Liberty Capital common stock in the open
    market or in privately negotiated transactions, subject to
    market conditions. As of the date of this offer to purchase, we
    have repurchased 53&#160;million LINTA shares for aggregate cash
    consideration of $986&#160;million pursuant to our stock
    repurchase program. The stock repurchase program with respect to
    Liberty Capital shares will be suspended during the period the
    tender offer is outstanding and for such longer period as may be
    required by law.
</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">
    During the past 60&#160;days we have not repurchased any LCAPA
    shares.
</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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Transactions in Last 60 Days by Directors and Executive
    Officers.</I>&#160;&#160;In addition to routine transactions in
    our common stock effected under the 401(k) Plan, our executive
    officers or directors listed below, and the executive officers
    or directors of our subsidiaries listed below, have effected the
    following transactions involving LCAPA shares during the
    60&#160;days prior to the commencement of the tender offer on
    March&#160;7, 2007:
</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>

<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>    &#149;&#160;
</TD>
    <TD align="left">
    On March&#160;2, 2007, Larry Romrell, a member of Liberty&#146;s
    Board of Directors, effected the following transactions in LCAPA
    shares:
</TD>
</TR>

</TABLE>

<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>

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

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Mr.&#160;Romrell exercised previously granted SARs with respect
    to 14,294 LCAPA shares for cash at an exercise price of $30.26
    per share; and
</TD>
</TR>

</TABLE>

<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>

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

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Mr.&#160;Romrell exercised previously granted SARs with respect
    to 2,853 LCAPA shares for cash at an exercise price of $34.00
    per share.
</TD>
</TR>

</TABLE>

<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>

<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>    &#149;&#160;
</TD>
    <TD align="left">
    Neal Grabell, Executive Vice President and General Counsel of
    Liberty&#146;s subsidiary QVC, Inc., sold 5,291 LCAPA shares on
    January&#160;3, 2007 in an open market transaction for $97.268
    per share;
</TD>
</TR>

</TABLE>

<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>

<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>    &#149;&#160;
</TD>
    <TD align="left">
    Dan O&#146;Connell, Executive Vice President and Chief Financial
    Officer of QVC, Inc., effected the following transactions
    involving LCAPA shares;
</TD>
</TR>

</TABLE>

<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>

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

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    On January&#160;3, 2007, Mr.&#160;O&#146;Connell sold 959 LCAPA
    shares in an open market transaction for $97.268 per share;
</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">
    <BR>
    25
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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

<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">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    On February&#160;16, 2007, Mr.&#160;O&#146;Connell sold 2
    covered call options, each of which entitled the holder to
    purchase 100 LCAPA shares at $110 per share, for a price of $450
    per option; and
</TD>
</TR>

</TABLE>

<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>

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

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    On February&#160;20, 2007, Mr.&#160;O&#146;Connell sold 3 call
    options, each of which option entitled the holder to purchase
    100 LCAPA shares at $110 per share, for a price of $470 per
    option.
</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">
    <I>401(k) Plan.</I>&#160;&#160;We maintain for the benefit of
    our employees (including our executive officers) the 401(k)
    Plan, which allows participating employees (including our
    executive officers) to make contributions of their eligible
    compensation up to statutory limits. Under the 401(k) Plan we
    make matching contributions (100% of employee contributions up
    to 10% of their compensation, subject to statutory limits) at
    the end of each calendar quarter which may be in the form of
    LCAPA and LINTA shares, which are valued at the closing sale
    price of such shares on the last day of the applicable calendar
    quarter.
</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">
    Except as set forth in <I>&#147;Transactions in Last 60 Days by
    Directors and Executive Officers&#148; </I>above or otherwise
    disclosed in this Section&#160;11, based upon our records and
    upon information provided to us, neither we nor our
    subsidiaries, nor any of our executive officers or directors, or
    to our knowledge after reasonable inquiry any person that may be
    deemed an affiliate of the foregoing, has effected any
    transactions involving our common stock during the 60&#160;days
    prior to our initial public announcement of the tender offer.
</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">
    <I>Plans or Proposals.</I>&#160;&#160;Except as disclosed in
    this offer to purchase (or in the documents incorporated by
    reference herein), neither we nor, to our knowledge, any of our
    directors, executive officers or affiliates have any current
    plans or proposals which relate to or would result in:
</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">
    (a)&#160;any extraordinary corporate transaction, such as a
    merger, reorganization or liquidation, involving our company or
    any of our subsidiaries that would be material to us and our
    subsidiaries, taken as a whole;
</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">
    (b)&#160;any purchase, sale or transfer of a material amount of
    our assets or the assets of any of our subsidiaries that would
    be material to us and our subsidiaries, taken as a whole;
</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">
    (c)&#160;any material change in our present dividend rate or
    policy, or indebtedness or capitalization;
</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">
    (d)&#160;any change in our present board of directors or senior
    management;
</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">
    (e)&#160;any other material change in our corporate structure or
    business;
</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">
    (f)&#160;our equity securities being delisted from the Nasdaq
    Global Select Market or ceasing to be authorized to be quoted in
    an automated quotations system operated by a national securities
    association;
</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">
    (g)&#160;our equity securities becoming eligible for termination
    of registration under Section&#160;12(g)(4) of the Exchange Act;
</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">
    (h)&#160;the suspension of our obligation to file reports under
    Section&#160;15(d) of the Exchange Act;
</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">
    (i)&#160;the acquisition by any person of additional securities,
    or the disposition of our securities;&#160;or
</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">
    (j)&#160;any changes in our charter, bylaws or other governing
    instruments or other actions that could impede the acquisition
    of control of our company.
</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">
    While we have no definitive plans or proposals regarding any of
    the foregoing as of the date of this offer to purchase (except
    as set forth above or in the documents incorporated by reference
    herein), our management continually assesses and reassesses
    possible acquisitions, divestitures, restructurings, and other
    extraordinary corporate transactions and possible changes to our
    capitalization and other matters. We may pursue any such matter
    at any time after the date of this offer to purchase, subject to
    our obligation to update this offer to purchase to reflect
    material changes in the information contained herein.
</DIV>

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

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Equity
    Compensation Plan Information</FONT></I></B>
</DIV>

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

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <I><FONT style="font-family: 'Times New Roman', Times">Incentive
    Plans.</FONT></I>
</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>LMC 2000 Incentive Plan.</I>&#160;&#160;The 2000 incentive
    plan is administered by the incentive plan committee, which is a
    subcommittee of the compensation committee of our board of
    directors. The 2000 incentive plan committee
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    26
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    may grant non-qualified stock options, stock appreciation rights
    (SARs), restricted shares, stock units, cash awards, performance
    awards or any combination of the foregoing under the incentive
    plan (collectively, awards). The maximum number of shares of any
    series of our common stock with respect to which awards may be
    issued under the 2000 incentive plan is 48&#160;million, subject
    to anti-dilution adjustments. With the exception of certain
    awards that have been accelerated, no person may be granted in
    any calendar year awards covering more than 7.5&#160;million
    shares of our common stock. In addition, no person may receive
    payment for performance awards during any calendar year in
    excess of $10&#160;million or the equivalent value thereof in
    shares of our common stock. Our 2000 incentive plan had
    1,460,000&#160;million shares available for grant as of
    March&#160;7, 2007. We amended and restated our 2000 incentive
    plan effective February&#160;22, 2007, which is subject to
    shareholder approval.
</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>LMC 2007 Incentive Plan.</I>&#160;&#160;The 2007 incentive
    plan is also administered by the incentive plan committee. Its
    terms are substantially similar to those of our 2000 incentive
    plan. The maximum number of shares of any series of our common
    stock with respect to which awards may be issued under the 2007
    incentive plan is 30&#160;million, subject to anti-dilution
    adjustments. Our 2007 incentive plan had 29,673,203&#160;million
    shares available for grant as of March&#160;7, 2007 and is
    subject to shareholder approval.
</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>Non-Employee Director Incentive Plan.</I>&#160;&#160;The
    director plan is administered by our full board of directors.
    The board may grant stock options, stock appreciation rights,
    restricted shares, stock units, any combination of the foregoing
    or cash under the director plan, and nonemployee directors may
    elect to receive stock in lieu of cash compensation otherwise
    payable to the director (collectively, awards). Only nonemployee
    members of our board of directors are eligible to receive awards
    under the director plan. The maximum number of shares of any
    series of our common stock with respect to which awards may be
    issued under the director plan is five million, subject to
    antidilution adjustments. Our director plan had
    1,389,000&#160;shares available for grant as of March&#160;7,
    2007.
</DIV>

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

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">John
    Malone Call Agreement</FONT></I></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">
    In February 1998, the former parent company of our predecessor
    company entered into a Call Agreement with Mr.&#160;Malone and
    Mr.&#160;Malone&#146;s wife. The rights under this call
    agreement were assigned to our predecessor company, and we
    succeeded to these rights in connection with the 2006
    restructuring. As a result, we have the right, under certain
    circumstances, to acquire shares of our LCAPB shares or shares
    of LINTB owned by the Malones, at a price equal to the market
    price of the LCAPA shares or shares of LINTA, as applicable,
    plus a 10% premium or, in the event of a sale, the lesser of
    such price or the price offered by such third parties. In
    addition, the call agreement provides that, in connection with a
    sale of shares to a third party resulting in a change in control
    of us, the maximum premium the Malones may receive for their
    LCAPB shares and shares of LINTB would be the price paid for
    LCAPA shares or shares of LINTA, as applicable, by said third
    party, plus a 10% premium. The call agreement also prohibits the
    Malones from disposing of their LCAPB shares or shares of LINTB,
    except for certain exempt transfers (such as transfers to
    related parties or to the other group or public sales of up to
    an aggregate of 5% of their LCAPB shares or shares of LINTB, as
    applicable, after conversion to LCAPA shares or shares of LINTA,
    as applicable), and except for a transfer made in compliance
    with our call rights.
</DIV>
<A name='115'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

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<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">12.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">CERTAIN
    LEGAL MATTERS; REGULATORY AND FOREIGN APPROVALS</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<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">
    We are not aware of any license or regulatory permit material to
    our business that might be adversely affected by our acquisition
    of Shares as contemplated by the tender offer. We are not aware
    of any approval or other action by any government or
    governmental, administrative or regulatory authority or agency,
    domestic or foreign, that would be required for our acquisition
    or ownership of Shares as contemplated by the tender offer.
    Should any such action or approval be required, we presently
    contemplate that we would seek that action or approval. There
    can be no assurance that any such approval or other action, if
    needed, would be obtained or would be obtained without
    substantial cost or conditions or that the failure to obtain the
    action or approval might not result in adverse consequences to
    our business and financial condition. Our obligations under the
    tender offer to accept for payment and pay for Shares is subject
    to certain conditions, including that any approval, permit,
    authorization, favorable review or consent of any United States
    or foreign governmental, regulatory, or administrative agency or
    authority required to be obtained in connection with the tender
    offer shall have been obtained on terms satisfactory to us, in
    our sole judgment, acting reasonably. See Section&#160;7.
</DIV>

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    <BR>
    27
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

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

</FONT></DIV>
<A name='116'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

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    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">13.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">MATERIAL
    U.S.&#160;FEDERAL INCOME TAX CONSEQUENCES</FONT></B>
</TD>
</TR>

</TABLE>

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

</FONT></DIV>

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

</FONT></DIV>
</A>
<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 following discussion is a summary of material
    U.S.&#160;federal income tax consequences to our stockholders of
    an exchange of shares for cash pursuant to the tender offer.
    This discussion is general in nature and does not discuss all
    aspects of U.S.&#160;federal income taxation that may be
    relevant to a particular stockholder in light of the
    stockholder&#146;s particular circumstances, or to certain types
    of stockholders subject to special treatment under
    U.S.&#160;federal income tax laws (such as insurance companies,
    tax-exempt organizations, regulated investment companies, real
    estate investment trusts, United States Holders, as defined
    below, whose &#147;functional currency&#148; is not the United
    States dollar, partnerships or other entities treated as
    partnerships for federal income tax purposes, persons holding
    shares as part of a hedging, integrated, conversion or
    constructive sale transaction or a straddle, financial
    institutions, brokers, dealers in securities or currencies and
    traders that elect to
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    their securities). In addition, the discussion does not consider
    the effect of any alternative minimum taxes or foreign, state,
    local or other tax laws, or any U.S.&#160;tax considerations
    (<I>e.g.</I>, estate or gift tax) other than U.S.&#160;federal
    income tax considerations, that may be applicable to particular
    stockholders. Further, this summary assumes that stockholders
    hold their shares as &#147;capital assets&#148; (generally,
    property held for investment) within the meaning of
    section&#160;1221 of the Internal Revenue Code of 1986, as
    amended (the &#147;Code&#148;) and generally assumes that they
    did not receive their shares through the exercise of employee
    stock options or otherwise as compensation.
</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">
    If a partnership or other entity treated as a partnership for
    U.S.&#160;federal income tax purposes holds shares, the tax
    treatment of a partner will generally depend upon the status of
    the partner and the activities of the partnership. A partnership
    holding shares and partners in such partnership should consult
    their tax advisors about the U.S.&#160;federal income tax
    consequences of an exchange of shares for cash pursuant to the
    tender 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">
    This summary is based on the Code and applicable
    U.S.&#160;Treasury regulations, rulings, administrative
    pronouncements and judicial decisions thereunder as of the date
    hereof, all of which are subject to change or differing
    interpretations at any time with possible retroactive effect.
</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">
    We have not sought, nor will we seek, any ruling from the IRS
    with respect to the matters discussed below. There can be no
    assurances that the IRS will not take a different position
    concerning tax consequences of the sale of shares to us pursuant
    to the tender offer or that any such position would not be
    sustained.
</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">
    As used herein, a &#147;United States Holder&#148; means a
    beneficial owner of Shares that is for U.S.&#160;federal income
    tax purposes (1)&#160;a citizen or resident of the United
    States, (2)&#160;a corporation or other entity taxed as a
    corporation created or organized in or under the laws of the
    United States or any political subdivision thereof, (3)&#160;an
    estate the income of which is subject to United States federal
    income taxation regardless of its source or (4)&#160;a trust if
    (x)&#160;the administration of the trust is subject to the
    primary supervision of a court within the United States and one
    or more United States persons have the authority to control all
    substantial decisions of the trust, or (y)&#160;it has a valid
    election in effect under applicable U.S.&#160;Treasury
    regulations to be treated as a United States person.
</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">
    As used herein, a
    <FONT style="white-space: nowrap">&#147;Non-United</FONT>
    States Holder&#148; means a beneficial owner of Shares that is
    not (i)&#160;a United States Holder and (ii)&#160;a partnership
    or other entity classified as a partnership for
    U.S.&#160;federal income tax purposes.
</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">
    EACH STOCKHOLDER IS ADVISED TO CONSULT ITS OWN TAX ADVISOR TO
    DETERMINE THE FEDERAL, STATE, LOCAL, FOREIGN AND OTHER TAX
    CONSEQUENCES TO IT OF THE TENDER 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">
    <I>Consequences to United States Holders.</I>&#160;&#160;An
    exchange of Shares for cash pursuant to the tender offer will be
    a taxable transaction to a United States Holder for
    U.S.&#160;federal income tax purposes. If the receipt of cash by
    a United States Holder in exchange for the tender of Shares
    pursuant to the tender offer is treated as a sale or exchange
    (as described below) of such Shares for U.S.&#160;federal income
    tax purposes, the United States Holder will recognize capital
    gain or loss equal to the difference between (1)&#160;the amount
    of cash received by the United States Holder for such Shares and
    (2)&#160;the United States Holder&#146;s &#147;adjusted tax
    basis&#148; for such Shares at the time of the sale. Generally,
    a United States Holder&#146;s adjusted tax basis for the Shares
    will be equal to the cost of the Shares to the United States
    Holder. This gain or loss will be characterized as long-term
    capital gain or loss if the United States Holder&#146;s holding
    period for the Shares that were sold exceeds one year as of the
    date we are treated as purchasing the Shares in the tender offer
    for U.S.&#160;federal income tax purposes. In the case of a
    United States Holder that is an individual, trust or estate, the
    maximum rate of U.S.&#160;federal income tax applicable to net
    capital gain on Shares held for more than one
</DIV>

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    <BR>
    28
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<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    year is generally 15%. A United States Holder&#146;s ability to
    deduct capital losses may be limited. A United States Holder
    must calculate gain or loss separately for each block of Shares
    (generally, Shares acquired at the same cost in a single
    transaction) we purchase from the United States Holder under the
    tender 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">
    A United States Holder&#146;s exchange of Shares for cash
    pursuant to the tender offer will be treated as a sale or
    exchange of the Shares for federal income tax purposes pursuant
    to Section&#160;302 of the Code if the sale:
</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>    &#149;&#160;
</TD>
    <TD align="left">
    results in a &#147;complete termination&#148; of the
    stockholder&#146;s stock interest in us under
    Section&#160;302(b)(3) of the Code;
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    is a &#147;substantially disproportionate&#148; redemption with
    respect to the stockholder under Section&#160;302(b)(2) of the
    Code; or
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    is &#147;not essentially equivalent to a dividend&#148; with
    respect to the stockholder under Section&#160;302(b)(1) of the
    Code.
</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">
    In determining whether any of these tests have been met, a
    United States Holder must take into account not only the stock
    that the stockholder actually owns, but also the stock that it
    constructively owns within the meaning of Section&#160;318 of
    the Code (as modified by Section&#160;302(c) of the Code). Under
    the constructive ownership rules of Section&#160;318 of the
    Code, a stockholder will be considered to own those shares of
    stock owned, directly or indirectly, by certain members of the
    stockholder&#146;s family and certain entities (such as
    corporations, partnerships, trusts and estates) in which the
    stockholder has an equity interest, as well as shares of stock
    the stockholder has an option to purchase.
</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">
    One of the following tests must be satisfied with respect to the
    United States Holder in order for the exchange of Shares for
    cash to be treated as a sale or exchange by that stockholder for
    federal income tax purposes. Due to the factual nature of these
    tests, stockholders should consult their tax advisers to
    determine whether the purchase of their Shares in the tender
    offer qualifies for sale or exchange treatment in their
    particular circumstances.
</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">
    Satisfaction of the &#147;complete termination&#148; and
    &#147;substantially disproportionate&#148; exceptions is
    dependent upon compliance with the objective tests set forth in
    Section&#160;302(b)(3) and Section&#160;302(b)(2) of the Code,
    respectively. A distribution to a stockholder will result in a
    &#147;complete termination&#148; of the stockholder&#146;s
    equity interest in us if either (1)&#160;all of the shares of
    stock of Liberty Media actually and constructively owned by the
    stockholder are exchanged for cash pursuant to the tender offer
    or (2)&#160;all of the shares of stock of Liberty Media actually
    owned by the stockholder are exchanged for cash pursuant to the
    tender offer and the stockholder is eligible to waive, and
    effectively waives, the attribution of shares of stock of
    Liberty Media constructively owned by the stockholder in
    accordance with the procedures described in
    Section&#160;302(c)(2) of the Code. United States Holders
    wishing to satisfy the &#147;complete termination&#148; test
    through waiver of attribution in accordance with the procedures
    described in Section&#160;302(c)(2) of the Code should consult
    their tax advisors concerning the mechanics and desirability of
    such a waiver. A distribution to a stockholder will be
    &#147;substantially disproportionate&#148; if (a)&#160;the
    voting percentage of the outstanding shares of Liberty Media
    actually and constructively owned by the stockholder immediately
    following the exchange of Shares pursuant to the tender offer is
    less than 80% of the voting percentage of the outstanding shares
    of Liberty Media actually and constructively owned by the
    stockholder immediately before the exchange (treating as
    outstanding all Shares purchased in the tender offer from the
    particular stockholder and all other stockholders) and
    (b)&#160;the percentage of the outstanding shares of stock of
    Liberty Media actually and constructively owned by the
    stockholder immediately following the exchange of Shares
    pursuant to the tender offer is less than 80% of the percentage
    of the outstanding shares of stock of Liberty Media actually and
    constructively owned by the stockholder immediately before the
    exchange (treating as outstanding all Shares purchased in the
    tender offer from the particular stockholder and all other
    stockholders).
</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">
    A distribution to a stockholder is &#147;not essentially
    equivalent to a dividend&#148; if it results in a
    &#147;meaningful reduction&#148; in the stockholder&#146;s stock
    interest in us. Whether a stockholder meets this test will
    depend on the stockholder&#146;s particular facts and
    circumstances. The IRS has indicated that even a small reduction
    in the percentage interest of a stockholder whose relative stock
    interest in a publicly held corporation is minimal and who
    exercises no control over corporate affairs should constitute a
    &#147;meaningful reduction.&#148; Stockholders should consult
    their tax advisers as to the application of this test to their
    particular circumstances.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    29
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 3pt; 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">
    Contemporaneous dispositions or acquisitions of shares of stock
    of Liberty Media by a stockholder or related individuals or
    entities may be deemed to be part of a single integrated
    transaction and may be taken into account in determining whether
    any of the three tests under Section&#160;302(b) of the Code has
    been satisfied. Each stockholder should be aware that because
    proration may occur in the tender offer, even if all the shares
    actually and constructively owned by a stockholder are tendered
    pursuant to the tender offer, fewer than all of the Shares
    tendered may be purchased by us. Thus, proration may affect
    whether the surrender by a stockholder pursuant to the tender
    offer will meet any of the three tests under Section&#160;302 of
    the Code.
</DIV>

<DIV style="margin-top: 3pt; 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 a United States Holder&#146;s receipt of cash attributable to
    an exchange of Shares for cash pursuant to the tender offer does
    not meet one of the tests of Section&#160;302 of the Code
    described above, then the full amount of cash received by the
    United States Holder with respect to our purchase of Shares
    under the tender offer will be treated as a distribution to the
    United States Holder with respect the United States
    Holder&#146;s Shares and will be treated as ordinary dividend
    income to the United States Holder to the extent of such
    stockholder&#146;s ratable share of our current or accumulated
    earnings and profits as determined under U.S.&#160;federal
    income tax principles. Provided certain holding period
    requirements are satisfied, non-corporate United States Holders
    generally will be subject to U.S.&#160;federal income tax at a
    maximum rate of 15% with respect to such dividend income. To the
    extent that the amount of the distribution exceeds our current
    and accumulated earnings and profits, the excess first will be
    treated as a return of capital that will reduce the United
    States Holder&#146;s adjusted tax basis in the Shares exchanged
    in the tender offer. Any amount remaining after the United
    States Holder&#146;s adjusted tax basis has been reduced to zero
    will be taxable to the United States Holder as capital gain. Any
    such gain will be long-term capital gain if the United States
    Holder has held the Shares for more than one year as of the date
    we are treated as purchasing the Shares in the tender offer for
    U.S.&#160;federal income tax consequences. The redeemed
    stockholder&#146;s basis in the redeemed Shares (after any
    reduction as noted above) will be allocated to other shares of
    stock of Liberty Media held by the redeemed stockholder. A
    dividend received by a corporate United States Holder may be
    (1)&#160;eligible for a dividends-received deduction (subject to
    applicable exceptions and limitations) and (2)&#160;subject to
    the &#147;extraordinary dividend&#148; provisions of
    Section&#160;1059 of the Code. Corporate stockholders should
    consult their own tax advisors regarding (1)&#160;whether a
    dividends-received deduction will be available to them, and
    (2)&#160;the application of Section&#160;1059 of the Code to the
    ownership and disposition of their Shares.
</DIV>

<DIV style="margin-top: 3pt; 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>Consequences to
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holders.</I>&#160;&#160;Gain realized by a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder on an exchange of Shares for cash pursuant to the
    tender offer generally will not be subject to U.S.&#160;federal
    income tax if the sale is treated as a sale or exchange for tax
    purposes pursuant to the tests of Section&#160;302 of the Code
    described above unless (1)&#160;such gain is effectively
    connected with the conduct by such
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder of a trade or business in the United States (and,
    if a treaty applies, the gain is generally attributable to a
    United States permanent establishment maintained by such
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder), (2)&#160;in the case of gain realized by a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder that is an individual, such
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder is present in the United States for 183&#160;days
    or more in the taxable year of the sale or redemption and
    certain other conditions are met or (3)&#160;our shares
    constitute a United States real property interest and the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder held, actually or constructively, at any time
    during the five-year period preceding the exchange more than 5%
    of our shares. Our shares will constitute a United States real
    property interest with respect to a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder if we are or have been a &#147;United States real
    property holding corporation&#148; for U.S.&#160;federal income
    tax purposes at any time during the shorter of (i)&#160;the
    period during which the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder held shares or (ii)&#160;the
    <FONT style="white-space: nowrap">5-year</FONT>
    period ending on the date the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder exchanges shares pursuant to the tender offer. We
    believe that we are not and have not been a United States real
    property holding corporation at any time during the past five
    years and do not expect to become one before our shares are
    exchanged for cash pursuant to the tender offer.
</DIV>

<DIV style="margin-top: 3pt; 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 a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder does not satisfy any of the Section&#160;302 tests
    explained above, the full amount received by the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder with respect to our purchase of Shares under the
    tender offer will be treated as a distribution to the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder with respect to the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder&#146;s Shares, rather than as a sale or exchange
    of such shares. Because satisfaction of the Section&#160;302
    tests is dependent on matters of fact we will presume that all
    amounts paid in exchange for the Shares are distributions. The
    treatment, for U.S.&#160;federal income tax purposes, of such
    distribution as a dividend, a tax-free return of capital or a
    capital gain from the sale of Shares, and the reallocation of
    the basis of the redeemed shares, will be determined in the
    manner described above (see &#147;Certain U.S.&#160;Federal
    Income Tax Consequences&#160;&#151; Consequences to United
    States Holders&#148;). To the extent that amounts received by a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder with respect to our purchase of Shares
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    30
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- 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">
    under the tender offer are treated as dividends and not as
    tax-free returns of capital or capital gains distributions, such
    dividends will generally be subject to withholding of United
    States federal income tax at the rate of 30% or such lower rate
    as may be specified by an applicable income tax treaty, provided
    we have received proper certification of the application of such
    income tax treaty.
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holders should consult their tax advisors regarding their
    entitlement to benefits under an applicable income tax treaty
    and the manner of claiming the benefits of such treaty. If any
    amount is withheld and the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder is not liable for such amount of tax, such
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder may obtain a refund or credit of any excess
    amounts withheld by filing an appropriate claim for a refund
    with the IRS. Amounts treated as dividends that are effectively
    connected with a
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder&#146;s conduct of a trade or business in the
    United States or, if provided in an applicable income tax
    treaty, dividends that are attributable to a permanent
    establishment in the United States, are not subject to the
    U.S.&#160;federal withholding tax, but generally are instead
    taxed in the manner applicable to U.S.&#160;persons, as
    described above. In that case, we will not have to withhold
    U.S.&#160;federal withholding tax if the
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holder complies with applicable certification and
    disclosure requirements. In addition, dividends received by a
    foreign corporation that are effectively connected with the
    conduct of a trade or business in the United States may be
    subject to a branch profits tax at a 30% rate, or a lower rate
    specified in an applicable income tax treaty. See Section&#160;3
    &#147;Procedures For Tendering Shares&#148; with respect to the
    application of U.S.&#160;federal income tax withholding to
    payments made to
    <FONT style="white-space: nowrap">Non-United</FONT>
    States Holders.
</DIV>

<DIV style="margin-top: 3pt; 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>United States Federal Income Tax Backup
    Withholding.</I>&#160;&#160;See Section&#160;3 &#147;Procedures
    For Tendering Shares&#148; with respect to the U.S.&#160;federal
    income tax backup withholding requirements.
</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">
    THIS DISCUSSION IS GENERAL IN NATURE AND DOES NOT DISCUSS ALL
    ASPECTS OF U.S.&#160;FEDERAL INCOME TAXATION THAT MAY BE
    RELEVANT TO A PARTICULAR STOCKHOLDER IN LIGHT OF THE
    STOCKHOLDER&#146;S PARTICULAR CIRCUMSTANCES, OR TO CERTAIN TYPES
    OF STOCKHOLDERS SUBJECT TO SPECIAL TREATMENT UNDER
    U.S.&#160;FEDERAL INCOME TAX LAWS. YOU ARE ADVISED TO CONSULT
    WITH YOUR TAX ADVISOR TO DETERMINE THE PARTICULAR TAX
    CONSEQUENCES TO YOU OF THE TENDER OFFER, INCLUDING THE
    APPLICABILITY AND EFFECT OF STATE, LOCAL AND FOREIGN TAX LAWS.
</DIV>

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

</FONT></DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>
<A name='117'>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">14.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">EXTENSION
    OF TENDER OFFER; TERMINATION; AMENDMENTS</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 3pt; 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">
    We expressly reserve the right, in our sole discretion, at any
    time and from time to time, and regardless of whether or not any
    of the events set forth in Section&#160;7 shall have occurred or
    shall be determined by us to have occurred, to extend the period
    of time during which the tender offer is open and thereby delay
    acceptance for payment of, and payment for, shares by giving
    oral or written notice of such extension to the depositary and
    making a public announcement of such extension. We also
    expressly reserve the right, in our sole discretion, to
    terminate the tender offer and not accept for payment or pay for
    Shares not theretofore accepted for payment or paid for or,
    subject to applicable law, to postpone payment for shares upon
    the occurrence of any of the conditions specified in
    Section&#160;7 hereof by giving oral or written notice of such
    termination or postponement to the depositary and making a
    public announcement of such termination or postponement. Our
    reservation of the right to delay payment for Shares which we
    have accepted for payment is limited by
    <FONT style="white-space: nowrap">Rule&#160;13e-4(f)(5)</FONT>
    promulgated under the Exchange Act, which requires that we pay
    the consideration offered or return the Shares tendered promptly
    after termination or withdrawal of the tender offer.
</DIV>

<DIV style="margin-top: 3pt; 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">
    Subject to compliance with applicable law, we further reserve
    the right, in our sole discretion, and regardless of whether any
    of the events set forth in Section&#160;7 shall have occurred or
    shall be deemed by us to have occurred, to amend the tender
    offer in any respect, including, without limitation, by
    decreasing or increasing the consideration offered in the tender
    offer to holders of Shares or by decreasing or increasing the
    number of Shares being sought in the tender offer. Amendments to
    the tender offer may be made at any time and from time to time
    effected by public announcement, such announcement, in the case
    of an extension, to be issued no later than 9:00&#160;a.m., New
    York City time, on the next business day after the last
    previously scheduled or announced expiration date. Any public
    announcement made under the tender offer will be disseminated
    promptly to stockholders in a manner reasonably designed to
    inform stockholders of such change. Without limiting the manner
    in which we may choose to make a public announcement, except as
    required by applicable law, we shall have no obligation to
    publish, advertise or otherwise communicate any such public
    announcement other than by making a release through a national
    newswire service.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    31
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 3pt; 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 we change the terms of the tender offer or the information
    concerning the tender offer, we will extend the tender offer to
    the extent required by
    <FONT style="white-space: nowrap">Rules&#160;13e-4(d)(2),</FONT>
    <FONT style="white-space: nowrap">13e-4(e)(3)</FONT>
    and
    <FONT style="white-space: nowrap">13e-4(f)(1)</FONT>
    promulgated under the Exchange Act. These rules and certain
    related releases and interpretations of the SEC provide that the
    minimum period during which the tender offer must remain open
    following material changes in the terms of the tender offer or
    information concerning the tender offer (other than a change in
    price or a change in percentage of securities sought) will
    depend on the facts and circumstances, including the relative
    materiality of such terms or information. If we
    (1)&#160;increase the price to be paid for the Shares above
    $113.00, decrease the price to be paid for the Shares below
    $105.00, increase the number of shares we seek in the tender
    offer by a number in excess of 2% of the outstanding LCAPA
    shares or LCAPB shares or decrease the number of Shares we seek,
    and (2)&#160;the tender offer is scheduled to expire at any time
    earlier than the expiration of a period ending on the tenth
    business day from, and including, the date that such notice of
    an increase or decrease is first published, sent or given to
    security holders in the manner specified in this
    Section&#160;14, the tender offer will be extended until the
    expiration of such period of ten business days.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>
<A name='118'>
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<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">15.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">FEES AND
    EXPENSES</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 3pt; 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">
    We have retained D.F. King&#160;&#38; Co., Inc. to act as
    information agent and Computershare Shareholder Services, Inc.
    to act as depositary in connection with the tender offer. The
    information agent may contact holders of Shares by mail,
    telephone and in person and may request brokers, dealers,
    commercial banks, trust companies and other nominee stockholders
    to forward materials relating to the tender offer to beneficial
    owners. The information agent and the depositary will receive
    reasonable and customary compensation for their services, will
    be reimbursed by us for specified
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses and will be indemnified against certain liabilities in
    connection with the tender offer, including certain liabilities
    under the federal securities laws.
</DIV>

<DIV style="margin-top: 3pt; 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">
    No fees or commissions will be payable by us to brokers,
    dealers, commercial banks or trust companies (other than fees to
    the information agent as described above) for soliciting tenders
    of Shares under the tender offer. Stockholders holding Shares
    through brokers or banks are urged to consult the brokers or
    banks to determine whether transaction costs are applicable if
    stockholders tender Shares through such brokers or banks and not
    directly to the depositary. We, however, upon request, will
    reimburse brokers, dealers, commercial banks and trust companies
    for customary mailing and handling expenses incurred by them in
    forwarding the tender offer and related materials to the
    beneficial owners of Shares held by them as a nominee or in a
    fiduciary capacity. No broker, dealer, commercial bank or trust
    company has been authorized to act as the agent of our company,
    the information agent or the depositary for purposes of the
    tender offer. We will pay or cause to be paid all stock transfer
    taxes, if any, on our purchase of Shares except as otherwise
    provided in this document.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>
<A name='119'>
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<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">16.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">MISCELLANEOUS</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 3pt; 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">
    We are not aware of any jurisdiction where the making of the
    tender offer is not in compliance with applicable law. If we
    become aware of any jurisdiction where the making of the tender
    offer or the acceptance of shares pursuant thereto is not in
    compliance with applicable law, we will make a good faith effort
    to comply with the applicable law. If, after such good faith
    effort, we cannot comply with the applicable law, the tender
    offer will not be made to (nor will tenders be accepted from or
    on behalf of) the holders of shares in such jurisdiction.
</DIV>

<DIV style="margin-top: 3pt; 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
    <FONT style="white-space: nowrap">Rule&#160;13e-4(c)(2)</FONT>
    under the Exchange Act, we have filed with the SEC a Tender
    Offer Statement on Schedule&#160;TO which contains additional
    information with respect to the tender offer. The
    Schedule&#160;TO, including the exhibits and any amendments and
    supplements thereto, may be examined, and copies may be
    obtained, at the same places and in the same manner as is set
    forth in Section&#160;10 with respect to information concerning
    us.
</DIV>

<DIV style="margin-top: 3pt; 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">
    WE HAVE NOT AUTHORIZED ANY PERSON TO MAKE ANY RECOMMENDATION ON
    BEHALF OF US, THE DEPOSITARY OR THE INFORMATION AGENT AS TO
    WHETHER YOU SHOULD TENDER OR REFRAIN FROM TENDERING YOUR
    SHARES&#160;IN THE TENDER OFFER. WE HAVE NOT AUTHORIZED ANY
    PERSON TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATION IN
    CONNECTION WITH THE TENDER OFFER OTHER THAN THOSE CONTAINED IN
    THIS DOCUMENT OR IN THE RELATED LETTER OF TRANSMITTAL. IF GIVEN
    OR MADE, ANY RECOMMENDATION OR ANY SUCH INFORMATION OR
    REPRESENTATION MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED
    BY US.
</DIV>

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

</FONT></DIV>

<DIV style="margin-top: 9pt; 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">
    March&#160;7, 2007, as amended and restated March&#160;20, 2007
</DIV>

<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">
    <BR>
    32
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 87%; margin-left: 6%"><!-- 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">LIBERTY
    MEDIA CORPORATION<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">March&#160;7,
    2007<BR>
    </FONT></B>
</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">(Amended
    and Restated March&#160;20, 2007)</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">
    The depositary will accept legible copies of the letter of
    transmittal. You or your broker, dealer, commercial bank, trust
    company or other nominee should send the letter of transmittal
    and certificates for the shares and any other required documents
    to the depositary at one of its addresses set out below:
</DIV>

<DIV style="margin-top: 12pt; 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">
    The Depositary:
</DIV>

<DIV style="margin-top: 12pt; 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">
    Computershare Shareholder Services, Inc.
</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="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
    <FONT style="font-size: 10pt">By Mail:
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">By Overnight Delivery:
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Computershare Shareholder
    Services, Inc.&#160;
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Computershare Shareholder
    Services, Inc.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Attn: Corporate Actions
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Attn: Corporate Actions
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
    <FONT style="font-size: 10pt">P.O. Box&#160;859208
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">161 Bay State Drive
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Braintree MA
    <FONT style="white-space: nowrap">02185-9208</FONT>
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Braintree MA 02184
    </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: 12pt; 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">
    <I>By Facsimile Transmission (For Eligible Institutions
    Only):</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">
    Facsimile Transmission:
</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">
    <FONT style="white-space: nowrap">781-380-3388</FONT>
</DIV>

<DIV style="margin-top: 12pt; 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">
    <I>To Confirm Facsimile Transmissions (For Eligible Institutions
    Only):</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">
    Confirm Receipt of Facsimile
</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">
    By Telephone:
</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">
    <FONT style="white-space: nowrap">781-930-4900</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">
    Please contact the information agent at the telephone numbers
    and address below with any questions or requests for assistance
    or additional copies of the offer to purchase and the letter of
    transmittal and the notice of guaranteed delivery. You may also
    contact your broker, dealer, commercial bank or trust company
    for assistance concerning the tender offer. To confirm delivery
    of your shares, please contact the depositary.
</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">
    The Information Agent:
</DIV>

<DIV style="margin-top: 12pt; 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">
    D. F. King&#160;&#38; Co., Inc.
</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">
    48 Wall Street
</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">
    22nd&#160;Floor
</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">
    New York, New York 10005
</DIV>

<DIV style="margin-top: 12pt; 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">
    Banks and Brokers Call:
</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">
    <FONT style="white-space: nowrap">212-269-5550</FONT>
</DIV>

<DIV style="margin-top: 12pt; 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">
    All others call Toll Free:
</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">
    1-888-628-1041
</DIV>

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

</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(1)(II)
<SEQUENCE>3
<FILENAME>d44735a1exv99wxayx1yxiiy.htm
<DESCRIPTION>LETTER OF TRANSMITTAL, AS AMENDED AND RESTATED
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99wxayx1yxiiy</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 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>Exhibit (a)(1)(ii)</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<BR>
    OF<BR>
    <FONT style="font-size: 16pt">LIBERTY MEDIA
    CORPORATION</FONT></FONT></B>
</DIV>

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

</FONT></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><FONT style="font-size: 12pt">Pursuant to the Offer to
    Purchase<BR>
    Dated March&#160;7, 2007<BR>
    (Amended and Restated March&#160;20, 2007)</FONT></B>
</DIV>

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

</FONT></DIV>

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

</FONT></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">

</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">Offer to Purchase for Cash<BR>
    up to 8,849,500&#160;Shares of Its<BR>
    Liberty Capital Series&#160;A Common Stock,<BR>
    At a Purchase Price Not Greater Than $113.00<BR>
    Or Less Than $105.00 Per Share</FONT></B>
</DIV>

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

</FONT></DIV>

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

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 9pt; border-right: 1px solid #000000; padding-right: 9pt; border-bottom: 1px solid #000000; padding-bottom: 9pt; border-left: 1px solid #000000; padding-left: 9pt"><!-- Begin box 1 -->

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

</FONT></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">
    Liberty Media Corporation (&#147;<B>Liberty Media</B>&#148;) is
    offering to purchase up to 8,849,500&#160;shares of its Liberty
    Capital Series&#160;A common stock, par value $0.01&#160;per
    share (&#147;<B>LCAPA</B>&#148;), from its stockholders, upon
    the terms and subject to the conditions set forth in the offer
    to purchase, dated March&#160;7, 2007, as amended and restated
    March&#160;20, 2007 (the &#147;<B>Offer to Purchase</B>&#148;),
    and this letter of transmittal (the &#147;<B>Letter of
    Transmittal</B>&#148;) (which together, as each of which may be
    amended or supplemented from time to time, constitute the
    &#147;<B>Tender Offer</B>&#148;). The shares of LCAPA are
    referred to as the &#147;<B>Shares</B>&#148;. Liberty Media is
    inviting stockholders to tender their Shares at a price per
    share not greater than $113.00 or less than $105.00 and Liberty
    Media will select the lowest purchase price that will allow it
    to purchase 8,849,500&#160;Shares or such fewer number of Shares
    as are properly tendered and not properly withdrawn prior to the
    Expiration Date. The Tender Offer, proration period and
    withdrawal rights will expire at 5:00 pm, New York City time, on
    April&#160;5, 2007, unless extended or earlier terminated by
    Liberty Media (the &#147;<B>Expiration Date</B>&#148;).
</DIV>

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

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

<DIV style="margin-top: 15pt; 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>The Depositary for the Offer is:</I></B>
</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><FONT style="font-size: 12pt">COMPUTERSHARE SHAREHOLDER
    SERVICES, INC.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; 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="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="31%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="31%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">If by Mail:</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 10pt">By facsimile:</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Overnight
    Delivery:</FONT></I>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Computershare<BR>
    Shareholder Services, Inc.<BR>
    P.O. Box&#160;859208<BR>
    Braintree MA
    <FONT style="white-space: nowrap">02185-9208</FONT><BR>
    Attn: Corporate Actions
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">(For Eligible Institutions
    only)<BR>
    </FONT></I><FONT style="font-size: 10pt">(781) 380-3388<BR>
    Confirmation:<BR>
    (781) 930-4900
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Computershare Shareholder
    Services, Inc.<BR>
    161 Bay State Drive<BR>
    Braintree MA 02184<BR>
    Attn: Corporate Actions
    </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>

<DIV style="margin-top: 5pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; 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="65%">&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="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="4%" 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="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="16" 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
    Shares&#160;Tendered</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">
    <B>Name(s) and Address(es) of Registered<BR>
    </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 colspan="3" nowrap align="center" valign="bottom" style="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-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-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>Stockholder(s) or Name of DTC<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 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 style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" 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>Participant and Participant&#146;s DTC<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 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 style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" 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>Account Number in which Shares are Held<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 style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Number of LCAPA Shares<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" 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>(Please fill in, if blank, exactly as<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 style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>represented by<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" style="border-right: 1px solid #000000; padding-right: 2pt">
    <B>Number of Shares<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>name(s) appear(s) on Certificate(s)</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 style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Certificate(s)</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" 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-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-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-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-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-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-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-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-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-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-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-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-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-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-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-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-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-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-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="16" 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: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">*&#160;Need not complete if Shares
    are delivered by book-entry transfer.
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="16" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -15pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">**&#160;If you desire to tender
    fewer than all Shares evidenced by any certificate(s) listed
    above, please indicate in this column the number of Shares you
    wish to tender. Otherwise, all Shares evidenced by such
    certificate(s) will be deemed to have been tendered. See
    Instruction&#160;5.
    </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="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>
</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>

<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 style="margin-top: 9pt; 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">
    Indicate below the order (by certificate number) in which Shares
    are to be purchased in the event of proration. If you do not
    designate an order, if less than all Shares tendered are
    purchased due to proration, Shares will be selected for purchase
    by the Depositary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</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: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="20%"></TD>
    <TD width="20%"></TD>
    <TD width="20%"></TD>
    <TD width="20%"></TD>
    <TD width="20%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <FONT style="font-family: 'Times New Roman', Times">1st&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=106 iwidth=100 length=72 -->
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-family: 'Times New Roman', Times">2nd&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=106 iwidth=100 length=72 -->
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-family: 'Times New Roman', Times">3rd&#160;&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=106 iwidth=100 length=72 -->
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-family: 'Times New Roman', Times">4th&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=106 iwidth=100 length=72 -->
    </FONT></TD>
    <TD nowrap align="right">    <FONT style="font-family: 'Times New Roman', Times">5th&#160;&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=106 iwidth=100 length=72 -->
    </FONT></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">
    <B>DELIVERY OF THIS LETTER OF TRANSMITTAL BY ANY MEANS OTHER
    THAN AS PROVIDED HEREIN WILL NOT CONSTITUTE A VALID DELIVERY.
    YOU MUST DELIVER THIS LETTER OF TRANSMITTAL TO THE DEPOSITARY.
    DELIVERIES TO LIBERTY MEDIA OR D.F. KING&#160;&#38; CO., INC.
    (THE INFORMATION AGENT FOR THE TENDER OFFER) WILL NOT BE
    FORWARDED TO THE DEPOSITARY AND THEREFORE WILL NOT CONSTITUTE
    VALID DELIVERY TO THE DEPOSITARY. DELIVERY OF THE LETTER OF
    TRANSMITTAL AND ANY OTHER REQUIRED DOCUMENTS TO THE BOOK-ENTRY
    TRANSFER FACILITY WILL NOT CONSTITUTE DELIVERY TO THE
    DEPOSITARY.</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">
    <B>YOU SHOULD USE THIS LETTER OF TRANSMITTAL IF YOU ARE CAUSING
    THE SHARES&#160;TO BE DELIVERED BY BOOK-ENTRY TRANSFER TO THE
    DEPOSITARY&#146;S ACCOUNT AT THE DEPOSITORY TRUST&#160;COMPANY
    (&#147;DTC,&#148; WHICH IS HEREINAFTER REFERRED TO AS THE
    &#147;BOOK-ENTRY TRANSFER FACILITY&#148;) PURSUANT TO THE
    PROCEDURES SET FORTH IN SECTION&#160;3 OF THE OFFER TO PURCHASE.
    ONLY FINANCIAL INSTITUTIONS THAT ARE PARTICIPANTS IN THE
    BOOK-ENTRY TRANSFER FACILITY&#146;S SYSTEM MAY MAKE BOOK-ENTRY
    DELIVERY OF THE SHARES.</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
    INFORMATION AGENT FOR THE TENDER 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%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>D.F. KING&#160;&#38; CO., INC.</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">
    Banks and Brokers Call:
    <FONT style="white-space: nowrap">212-269-5550</FONT><BR>
    All others call Toll Free: 1-888-628-1041
</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: 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>BEFORE COMPLETING THIS LETTER OF TRANSMITTAL, YOU SHOULD READ
    THIS LETTER OF TRANSMITTAL AND THE ACCOMPANYING
    INSTRUCTIONS&#160;CAREFULLY.</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: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You should use this Letter of Transmittal only if (1)&#160;you
    are also enclosing certificates for LCAPA shares you desire to
    tender, or (2)&#160;you intend to deliver certificates for such
    Shares under a notice of guaranteed delivery previously sent to
    the Depositary, or (3)&#160;you are delivering LCAPA shares
    through a book-entry transfer into the Depositary&#146;s account
    at the Depository Trust Company (<I>i.e.</I>, the book-entry
    transfer facility) in accordance with Section&#160;3 of the
    Offer to Purchase.
</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">
    If you desire to tender Shares in the Tender Offer, but you
    cannot deliver the certificates for such shares and all other
    required documents to the Depositary by the Expiration Date, or
    cannot comply with the procedures for book-entry transfer on a
    timely basis, then you may tender your Shares according to the
    guaranteed delivery procedures set forth in Section&#160;3 of
    the Offer to Purchase. See Instruction&#160;2. Delivery of the
    Letter of Transmittal and any other required documents to the
    book-entry transfer facility does not constitute delivery to the
    Depositary.
</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>

<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>    <B><FONT face="wingdings">o</FONT>&#160;&#160;</B></TD>
    <TD align="left">
    <B>CHECK HERE IF YOU ARE DELIVERING TENDERED
    SHARES&#160;PURSUANT TO A NOTICE OF GUARANTEED DELIVERY THAT YOU
    PREVIOUSLY SENT TO THE DEPOSITARY AND COMPLETE THE FOLLOWING:</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="3%"></TD>
    <TD width="33%"></TD>
    <TD width="64%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Name(s) of Tendering Stockholder(s):&#160;
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=305 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="3%"></TD>
    <TD width="46%"></TD>
    <TD width="51%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Date of Execution of Notice of Guaranteed Delivery:&#160;
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=242 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="3%"></TD>
    <TD width="40%"></TD>
    <TD width="57%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Name of Institution that Guaranteed Delivery:&#160;
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=271 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 9pt; 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">o</FONT>&#160;&#160;
</TD>
    <TD align="left">    <B>CHECK HERE IF ANY CERTIFICATES EVIDENCING THE SHARES YOU ARE
    TENDERING WITH THIS LETTER OF TRANSMITTAL HAVE BEEN LOST,
    STOLEN, DESTROYED OR MUTILATED. YOU SHOULD CALL COMPUTERSHARE
    SHAREHOLDER SERVICES, INC., THE TRANSFER AGENT, AT
    1-888-218-4391 (OR, IF CALLING FROM OUTSIDE THE UNITED STATES,
    <FONT style="white-space: nowrap">781-575-4579)</FONT>
    TO GET INFORMATION ABOUT THE REQUIREMENTS FOR REPLACEMENT. YOU
    MAY BE REQUIRED TO POST A BOND TO SECURE AGAINST THE RISK THAT
    CERTIFICATES MAY BE SUBSEQUENTLY RECIRCULATED. PLEASE CALL
    COMPUTERSHARE SHAREHOLDER SERVICES IMMEDIATELY TO OBTAIN AN
    AFFIDAVIT OF LOSS, TO RECEIVE FURTHER INSTRUCTIONS&#160;ON HOW
    TO PROCEED, AND TO DETERMINE WHETHER YOU WILL NEED TO POST A
    BOND, SO THAT THE TIMELY PROCESSING OF THIS LETTER OF
    TRANSMITTAL WILL NOT BE IMPEDED. SEE INSTRUCTION&#160;15.</B>
</TD>
</TR>

<TR style="line-height: 9pt; 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">o</FONT>&#160;&#160;
</TD>
    <TD align="left">    <B>CHECK HERE IF YOU ARE A FINANCIAL INSTITUTION THAT IS A
    PARTICIPATING INSTITUTION IN THE BOOK-ENTRY TRANSFER
    FACILITY&#146;S SYSTEM AND YOU ARE DELIVERING THE TENDERED
    SHARES&#160;BY BOOK-ENTRY TRANSFER TO AN ACCOUNT MAINTAINED BY
    THE DEPOSITARY AT THE BOOK-ENTRY TRANSFER FACILITY, AND COMPLETE
    THE FOLLOWING:</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="3%"></TD>
    <TD width="29%"></TD>
    <TD width="68%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Name(s) of Tendering Institution:&#160;
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=323 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="3%"></TD>
    <TD width="16%"></TD>
    <TD width="81%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Account Number:&#160;
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=387 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="3%"></TD>
    <TD width="24%"></TD>
    <TD width="73%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Transaction Code Number:&#160;
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=350 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; 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%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</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>NOTE: SIGNATURES MUST BE PROVIDED BELOW<BR>
    PLEASE READ THE ACCOMPANYING INSTRUCTIONS&#160;CAREFULLY</B>
</DIV>
</DIV><!-- End box 1 -->

<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>
    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="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">CHECK
    EXACTLY ONE BOX ON THIS PAGE. IF YOU CHECK MORE THAN ONE BOX, OR
    IF YOU DO<BR>
    NOT CHECK ANY BOX, YOU WILL HAVE FAILED TO VALIDLY TENDER ANY
    SHARES</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>SHARES&#160;TENDERED AT PRICE DETERMINED PURSUANT TO THE
    TENDER OFFER<BR>
    (See Instruction&#160;6)</B>
</DIV>

<DIV style="margin-top: 9pt; 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">o</FONT>&#160;&#160;</TD>
    <TD align="left">
    The undersigned wants to maximize the chance of having Liberty
    Media purchase all Shares the undersigned is tendering (subject
    to the possibility of proration). Accordingly, by checking this
    <B>one </B>box <B>instead of one of the price boxes below</B>,
    the undersigned hereby tenders Shares and is willing to accept
    the purchase price determined by Liberty Media pursuant to the
    Tender Offer. If you agree to accept the purchase price
    determined by Liberty, your Shares will be deemed to be tendered
    at the minimum price of $105.00&#160;per share. You should
    understand that this election may lower the purchase price paid
    for all purchased Shares in the Tender Offer and could result in
    your Shares being purchased at the minimum price of $105.00 per
    share.
</TD>
</TR>

</TABLE>

<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">&#151;OR&#151;</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">SHARES&#160;TENDERED
    AT PRICE DETERMINED BY STOCKHOLDER<BR>
    (See Instruction&#160;6)</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">
    By checking <B>one </B>of the boxes below <B>instead of the box
    above</B>, the undersigned hereby tenders Shares at the price
    checked. This action could result in none of the Shares being
    purchased if the purchase price for the Shares is less than the
    price checked below. <B>A stockholder who desires to tender
    Shares at more than one price must complete a separate letter of
    transmittal for each price at which the stockholder tenders such
    shares.</B>&#160;&#160;You cannot tender the same Shares at more
    than one price, unless you have previously validly withdrawn
    those shares tendered at a different price in accordance with
    Section&#160;4 of the Offer to Purchase.
</DIV>

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

</FONT></DIV>

<DIV style="margin-top: 9pt; 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">Price (in
    dollars) per Share at which Shares are being tendered:</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="16%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.00
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    106.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.10
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    106.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.20
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    106.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    113.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.30
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    106.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.40
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    106.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.50
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    106.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.60
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    106.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.70
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.80
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.90
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.00
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    109.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.10
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.20
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    107.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    108.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    110.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    111.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT face="wingdings">o</FONT>&#160;$
</TD>
<TD nowrap align="right" valign="bottom">
    112.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&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 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">You will
    not have validly tendered your Shares unless you check one and
    only one box in this frame.</FONT></B>
</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: 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">CONDITIONAL
    TENDER<BR>
    (See Instruction&#160;7)</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">
    A tendering stockholder may condition his or her tender of
    Shares upon Liberty Media purchasing a specified minimum number
    of the Shares tendered by the tendering stockholder, all as
    described in Section&#160;6 of the Offer to Purchase
    &#147;Conditional Tender of Shares.&#148; Unless at least the
    minimum number of Shares indicated below is purchased by Liberty
    Media from the tendering stockholder pursuant to the terms of
    the Tender Offer, none of the Shares tendered by the tendering
    stockholder will be purchased. It is the tendering
    stockholder&#146;s responsibility to calculate the minimum
    number of Shares that must be purchased from the tendering
    stockholder if any are purchased, and each stockholder is urged
    to consult his or her own tax advisor. Unless this box has been
    checked and a minimum specified, the tender will be deemed
    unconditional.
</DIV>

<DIV style="margin-top: 9pt; 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">o</FONT>&#160;&#160;</TD>
    <TD align="left">
    The minimum number of Shares that must be purchased from the
    tendering stockholder, if any are purchased,
    is:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares.
</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">
    If, because of proration, the minimum number of Shares
    designated will not be purchased, Liberty Media may accept
    conditional tenders by random lot, if necessary. However, to be
    eligible for purchase by random lot, the tendering stockholder
    must have tendered all of his or her Shares and, if true,
    checked the following box:
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 9pt; 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">o</FONT>&#160;&#160;</TD>
    <TD align="left">
    The tendered Shares represent all Shares held by the undersigned.
</TD>
</TR>

</TABLE>

<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">ODD
    LOTS<BR>
    (See Instruction&#160;11)</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">
    To be completed only if the Shares are being tendered by or on
    behalf of a person owning beneficially or of record an aggregate
    of fewer than 100&#160;Shares. The undersigned either <B>(check
    one box)</B>:
</DIV>

<DIV style="margin-top: 9pt; 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">o</FONT>&#160;&#160;
</TD>
    <TD align="left">    is the beneficial or record owner of an aggregate of fewer than
    100&#160;Shares, all of which are being tendered;&#160;or
</TD>
</TR>

<TR style="line-height: 9pt; 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">o</FONT>&#160;&#160;
</TD>
    <TD align="left">    is a broker, dealer, commercial bank, trust company or other
    nominee that (a)&#160;is tendering for the beneficial owner(s)
    thereof, shares with respect to which it is record holder and
    (b)&#160;believes, based upon representations made to it by such
    beneficial owner(s), that each such person is the beneficial or
    record owner of an aggregate of fewer than 100&#160;Shares and
    is tendering all of such shares.
</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">
    In addition, the undersigned is tendering Shares either
    <B>(check one box)</B>:
</DIV>

<DIV style="margin-top: 9pt; 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">o</FONT>&#160;&#160;
</TD>
    <TD align="left">    at the price determined by Liberty Media pursuant to the Tender
    Offer (persons checking this box need not indicate the price per
    share above);&#160;or
</TD>
</TR>

<TR style="line-height: 9pt; 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">o</FONT>&#160;&#160;
</TD>
    <TD align="left">    at the price per share indicated above under
    &#147;Shares&#160;Tendered At Price Determined By
    Stockholder&#148; in this Letter of Transmittal.
</TD>
</TR>

</TABLE>

<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: 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">


</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="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>SPECIAL PAYMENT INSTRUCTIONS<BR>
    (See Instructions&#160;1 and 10)</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">
    To be completed ONLY if Shares not tendered or not accepted for
    purchase are to be issued in the name of,
    <FONT style="white-space: nowrap">and/or</FONT> if
    the payment check for the aggregate purchase price for the
    Shares purchased (less the amount of any federal income or
    backup withholding tax required to be withheld) is to be issued
    to the order of, someone other than the person or persons whose
    signature(s) appears within this Letter of Transmittal,
    <FONT style="white-space: nowrap">and/or</FONT> if
    Shares tendered by book-entry transfer that are not accepted for
    purchase are to be credited to an account maintained at the
    book-entry transfer facility other than the account 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: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Check One or Both Boxes as Appropriate:</B>
</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">

<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">o</FONT>&#160;&#160;</TD>
    <TD align="left">
    Issue Share Certificates to:
</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: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="wingdings">o</FONT>&#160;&#160;Issue Payment
    Check(s) to:
</DIV>

<DIV style="margin-top: 12pt; 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>    Name(s)&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=418 length=0 -->
</TD>
</TR>

</TABLE>

<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">

</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 Print)</FONT></B>
</DIV>

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

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

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Address&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=420 length=0 -->
</TD>
</TR>

</TABLE>

<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=455 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">(Include Zip Code)</FONT></B>
</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=479 -->

<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">
    <I>Taxpayer Identification Number,</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">
    <I>Social Security Number</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">
    <I>or Employer Identification Number</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">
    <I>(See Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    below)</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">
    Credit unpurchased shares by book-entry to the book-entry
    transfer facility account set forth below:
</DIV>

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

</FONT></DIV>

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

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

<TR>
    <TD width="21%"></TD>
    <TD width="79%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    DTC Account Number:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=357 length=0 -->
</TD>
</TR>

</TABLE>

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

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

<TR>
    <TD width="24%"></TD>
    <TD width="76%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Number of Account Party:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=344 length=0 -->
</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><!-- End box 1 -->

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


</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 2 -->

<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>SPECIAL DELIVERY INSTRUCTIONS<BR>
    (See Instructions&#160;1 and 10)</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">
    To be completed ONLY if certificate(s) representing Shares not
    tendered or not purchased are to be
    <FONT style="white-space: nowrap">and/or</FONT> if
    the payment check for the aggregate purchase price for the
    Shares purchased (less the amount of any federal income or
    backup withholding tax required to be withheld) is to be mailed
    to someone other than the undersigned or to the undersigned at
    an address other than that shown below the undersigned&#146;s
    signature(s).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</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>Check One or Both Boxes as Appropriate:</B>
</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">

<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">o</FONT>&#160;&#160;</TD>
    <TD align="left">
    Mail Share Certificates to:
</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: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="wingdings">o</FONT>&#160;&#160;Mail Payment Check(s)
    to:
</DIV>

<DIV style="margin-top: 12pt; 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>    Name(s)&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=418 length=0 -->
</TD>
</TR>

</TABLE>

<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 Print)</FONT></B>
</DIV>

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

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

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Address&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=420 length=0 -->
</TD>
</TR>

</TABLE>

<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=455 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">(Include Zip Code)</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=455 length=479 -->

<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">
    <I>Taxpayer Identification Number,</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">
    <I>Social Security Number</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">
    <I>or Employer Identification Number</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">
    <I>(See Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    below)</I>
</DIV>

<DIV style="margin-top: 109pt; 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">

</DIV>
</DIV><!-- End box 2 -->

<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 -->

<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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Upon the terms and subject to the conditions of the Tender
    Offer, the undersigned hereby tenders to Liberty Media the
    Shares indicated above. The tender of the Shares is being made
    at the price per Share indicated in this Letter of Transmittal,
    net to the seller in cash, without interest, on the terms and
    subject to the conditions set forth in this Letter of
    Transmittal and the Offer to Purchase, receipt of which is
    hereby acknowledged.
</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">
    Subject to, and effective upon, acceptance for purchase of the
    Shares tendered in accordance with the terms and subject to the
    conditions of the Tender Offer, including, if the Tender Offer
    is extended or amended, the terms and conditions of the
    extension or amendment, the undersigned hereby (1)&#160;sells,
    assigns and transfers to, or upon the order of, Liberty Media
    all rights, title and interests in and to all Shares tendered
    hereby that are so accepted and paid for; (2)&#160;orders the
    registration of any Shares tendered by book-entry transfer that
    are purchased under the Tender Offer to or upon the order of
    Liberty Media; and (3)&#160;appoints the Depositary as
    <FONT style="white-space: nowrap">attorney-in-fact</FONT>
    of the undersigned with respect to such Shares, with the full
    knowledge that the Depositary also acts as the agent of Liberty
    Media, with full power of substitution (such power of attorney
    being an irrevocable power coupled with an interest), to perform
    the following functions:
</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;deliver certificates for Shares or transfer ownership of
    such shares on the account books maintained by the book-entry
    transfer facility, together in either such case with all
    accompanying evidences of transfer and authenticity, to or upon
    the order of Liberty Media, upon receipt by the Depositary, as
    the undersigned&#146;s agent, of the purchase price for Shares;
</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;present certificates for such Shares for cancellation
    and transfer on Liberty Media&#146;s books;&#160;and
</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;receive all benefits and otherwise exercise all rights
    of beneficial ownership of such Shares, subject to the next
    paragraph, all in accordance with the terms of the Tender 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">
    The undersigned understands that Liberty Media will, upon the
    terms and subject to the conditions of the Tender Offer,
    determine a single per share price, not greater than $113.00 or
    less than $105.00&#160;per Share (the &#147;<B>Purchase
    Price</B>&#148;), which it will pay for Shares validly tendered
    and not validly withdrawn pursuant to the Tender Offer, after
    taking into account the number of Shares so tendered and the
    prices specified by tendering stockholders. The undersigned
    understands that Liberty Media will select the lowest purchase
    price that will allow it to purchase 8,849,500&#160;Shares or,
    if a lesser number of Shares is validly tendered and not validly
    withdrawn, all such Shares that are validly tendered and not
    validly withdrawn. The undersigned further understands that
    Liberty Media reserves the right to purchase more than
    8,849,500&#160;Shares pursuant to the Tender Offer, subject to
    certain limitations and legal requirements as set forth in the
    Tender Offer. Liberty Media will purchase all Shares validly
    tendered at or below the Purchase Price and not validly
    withdrawn, subject to the conditions of the Tender Offer and the
    odd lot, proration and conditional tender provisions described
    in the Offer to Purchase. The undersigned understands that all
    stockholders who&#146;s Shares are purchased by Liberty Media
    will receive the same purchase price for each Share purchased in
    the Tender 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">
    The undersigned further understands and acknowledges that the
    Tender Offer will expire on the Expiration Date for the Tender
    Offer, unless extended or earlier terminated by Liberty Media.
</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 covenants, represents and warrants to Liberty
    Media that, in connection with its tender of the Shares
    indicated in the box above:
</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 undersigned has a net long position in the Shares at
    least equal to the number of Shares being tendered within the
    meaning of
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    under the Securities Exchange Act of 1934, as amended (the
    &#147;<B>Exchange Act</B>&#148;), and is tendering the Shares in
    compliance with
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    under the Exchange Act;
</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 undersigned has received a copy of this document and
    the Offer to Purchase and agrees to be bound by all the terms
    and conditions of the Tender Offer;
</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;the undersigned has full power and authority to tender,
    sell, assign and transfer the Shares;
</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;when and to the extent Liberty Media accepts the Shares
    for purchase, Liberty Media will acquire good and marketable
    title to them, free and clear of all security interests,
    charges, liens, restrictions, claims and encumbrances;&#160;and
</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: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<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;the undersigned will, upon Liberty Media&#146;s request
    or the request of the Depositary, as applicable, execute and
    deliver any additional documents necessary or desirable to
    complete the tender of such Shares.
</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 understands that Liberty Media&#146;s acceptance
    of the Shares tendered pursuant to the procedures described in
    Section&#160;3 of the Offer to Purchase and in the instructions
    to this Letter of Transmittal will constitute a binding
    agreement between the undersigned and Liberty Media upon the
    terms and subject to the conditions of the Tender 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">
    The undersigned recognizes that under the circumstances set
    forth in the Offer to Purchase, Liberty Media may terminate or
    amend the Tender Offer, or may postpone the acceptance for
    payment of, or the payment for, Shares tendered, or may accept
    for payment fewer than all of the Shares tendered. The
    undersigned understands that (unless otherwise specified in the
    box entitled &#147;Special Delivery Instructions&#148;
    <FONT style="white-space: nowrap">and/or</FONT>
    &#147;Special Payment Instructions&#148; above) certificate(s)
    for any Shares not tendered or not purchased will be returned to
    the undersigned at the address indicated above or, in the case
    of Shares tendered through the book-entry transfer facility and
    not purchased, credited to the account at the book-entry
    transfer facility 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    THE NAMES AND ADDRESSES OF THE REGISTERED STOCKHOLDERS SHOULD BE
    PRINTED, IF THEY ARE NOT ALREADY PRINTED ABOVE, EXACTLY AS THEY
    APPEAR ON THE CERTIFICATES REPRESENTING SHARES&#160;TENDERED
    HEREBY. THE CERTIFICATE NUMBERS, THE NUMBER OF
    SHARES&#160;REPRESENTED BY SUCH CERTIFICATES, AND THE NUMBER OF
    SHARES&#160;THAT THE UNDERSIGNED WISHES TO TENDER, SHOULD BE SET
    FORTH IN THE APPROPRIATE BOXES 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">
    Unless otherwise indicated above in the box entitled
    &#147;Special Payment Instructions,&#148; please issue the check
    for the aggregate purchase price with respect to any Shares
    purchased (less the amount of any federal income or backup
    withholding tax required to be withheld),
    <FONT style="white-space: nowrap">and/or</FONT>
    return any Shares not tendered or not purchased, in the name(s)
    of the undersigned, or by credit to the account at the
    book-entry transfer facility designated above. Similarly, unless
    otherwise indicated under &#147;Special Delivery
    Instructions,&#148; please mail the check for the aggregate
    purchase price for the Shares purchased (less the amount of any
    federal income or backup withholding tax required to be
    withheld), and any certificates for Shares not tendered or not
    purchased (and accompanying documents, as appropriate) to the
    undersigned at the address shown below the undersigned&#146;s
    signature(s). In the event that both the &#147;Special Payment
    Instructions&#148; and the &#147;Special Delivery
    Instructions&#148; are completed, please issue the check for the
    aggregate purchase price for Shares purchased (less the amount
    of any federal income or backup withholding tax required to be
    withheld, and the amount, if any, of any stock transfer taxes
    not paid by Liberty Media)
    <FONT style="white-space: nowrap">and/or</FONT>
    return any Shares not tendered or not purchased in the name(s)
    of, and mail said check and any certificates to, the person(s)
    so indicated.
</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 recognizes that Liberty Media has no obligation,
    under the Special Payment Instructions, to transfer any
    certificate for Shares from the name of its registered
    stockholder, or to order the registration or transfer of Shares
    tendered by book-entry transfer, if Liberty Media purchases none
    of the Shares represented by such certificate or tendered by
    such book-entry transfer.
</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">
    For purposes of the Tender Offer, the undersigned understands
    that Liberty Media will be deemed to have accepted for purchase
    validly tendered Shares, or defectively tendered Shares with
    respect to which Liberty Media has waived such defect, if, as
    and when Liberty Media gives oral or written notice thereof to
    the Depositary.
</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 authority conferred or agreed to be conferred by this Letter
    of Transmittal will survive the death or incapacity of the
    undersigned, and all obligations of the undersigned hereunder
    will be binding on the heirs, personal representatives,
    executors, administrators, successors, assigns, trustees in
    bankruptcy and legal representatives of the undersigned. Except
    as stated in the Offer to Purchase, this tender is irrevocable.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    8
</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: 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 50 -->

<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&#160;&#151; To Be Completed By All Tendering
    Stockholders<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">(Please
    Complete and Return With the Attached Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9,</FONT><BR>
    </FONT></B>
</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">or The
    Appropriate
    <FONT style="white-space: nowrap">Form&#160;W-8)</FONT></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">
    This Letter of Transmittal must be signed by registered
    holder(s) exactly as name(s) appear(s) on Share certificate(s)
    or on a security position listing or by person(s) authorized to
    become registered holder(s) by Share certificate(s) and
    documents transmitted herewith. If the signature is by a
    trustee, executor, administrator, guardian,
    <FONT style="white-space: nowrap">attorney-in-fact,</FONT>
    officer or other person acting in a fiduciary or representative
    capacity, such person must set forth his or her full title below
    opposite &#147;Capacity&#148; and submit evidence satisfactory
    to Liberty Media of such person&#146;s authority to so act. See
    Instruction&#160;8 below.
</DIV>

<DIV style="margin-top: 24pt; 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: 24pt; 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">(Signature(s) of Stockholder(s)
    or Authorized Signatory)</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">
    Dated:
    <FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=128 iwidth=480 length=120 -->,
    2007.
</DIV>

<DIV style="margin-top: 12pt; 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>    <font style="white-space: nowrap">Name(s):&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=440 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; 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">(Please Print)</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="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>    <FONT style="font-size: 8pt"><font style="white-space: nowrap"></FONT>Capacity:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=439 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

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

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

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Address:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=442 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; 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">(Including Zip Code)</FONT></B>
</DIV>

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

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

<TR>
    <TD width="27%"></TD>
    <TD width="73%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT style="font-size: 8pt"><font style="white-space: nowrap"></FONT>Area
    Code and Telephone No.:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=350 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 18pt; 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>SIGNATURE GUARANTEE (See Instructions&#160;1 and 8 below)</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">
    Certain Signatures Must be Guaranteed by a Medallion 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 Medallion Signature
    Guarantor Guaranteeing 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">(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: 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">
    Dated:
    <FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=128 iwidth=480 length=120 -->,
    2007.
</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">

</DIV>
</DIV><!-- End box 50 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    9
</DIV><!-- END LOGICAL PAGE -->
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<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">INSTRUCTIONS</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">Forming
    Part of the Terms and Conditions of the Tender Offer</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">
    1.&#160;<B><I>Guarantee of Signatures.</I></B>&#160;&#160;Except
    as otherwise provided in this Instruction, all signatures on
    this Letter of Transmittal must be guaranteed by a financial
    institution that is a participant in the Securities Transfer
    Agents Medallion Program or a bank, broker, dealer, credit
    union, savings association or other entity which is an
    &#147;eligible guarantor institution&#148; as such term is
    defined in
    <FONT style="white-space: nowrap">Rule&#160;17Ad-15</FONT>
    under the Exchange Act (an &#147;<B>Eligible
    Institution</B>&#148;). Signatures on this Letter of Transmittal
    need not be guaranteed if either (a)&#160;this Letter of
    Transmittal is signed by the registered holder(s) of the Shares
    (which term, for purposes of this Letter of Transmittal, shall
    include any participant in the book-entry transfer facility
    whose name appears on a security position listing as the owner
    of such Shares) tendered herewith and such holder(s) have not
    completed either the box entitled &#147;Special Payment
    Instructions&#148; or &#147;Special Delivery Instructions&#148;
    in this Letter of Transmittal; or (b)&#160;such Shares are
    tendered for the account of an Eligible Institution. See
    Instruction&#160;8. You may also need to have any certificates
    you deliver endorsed or accompanied by a stock power, and the
    signatures on these documents may also need to be guaranteed.
    See Instruction&#160;8.
</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">
    2.&#160;<B><I>Delivery of Letter of Transmittal and
    Certificates; Guaranteed Delivery
    Procedures.</I></B>&#160;&#160;You should use this Letter of
    Transmittal only if you are (a)&#160;forwarding certificates
    with this Letter of Transmittal, (b)&#160;going to deliver
    certificates under a notice of guaranteed delivery previously
    sent to the Depositary, or (c)&#160;causing Shares to be
    delivered by book-entry transfer pursuant to the procedures set
    forth in Section&#160;3 of the Offer to Purchase. In order for
    you to validly tender Shares, the Depositary must receive
    certificates for all physically tendered Shares, or a
    confirmation of a book-entry transfer of all Shares delivered
    electronically into the Depositary&#146;s account at the
    book-entry transfer facility, together in each case with a
    properly completed and duly executed Letter of Transmittal, or
    an Agent&#146;s Message in connection with book-entry transfer,
    and any other documents required by this Letter of Transmittal,
    at one of its addresses set forth in this Letter of Transmittal
    by 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The term &#147;Agent&#146;s Message&#148; means a message
    transmitted by the book-entry transfer facility to, and received
    by, the Depositary, which states that the book-entry transfer
    facility has received an express acknowledgment from the
    participant in the book-entry transfer facility tendering the
    Shares, that the participant has received and agrees to be bound
    by the terms of the Letter of Transmittal, and that Liberty
    Media may enforce this agreement against the participant.
</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>Guaranteed Delivery.</I>&#160;&#160;If you cannot deliver
    your Shares and all other required documents to the Depositary
    by the Expiration Date, or the procedure for book-entry transfer
    cannot be completed on a timely basis, you may tender your
    Shares, pursuant to the guaranteed delivery procedure described
    in Section&#160;3 of the Offer to Purchase, by or through any
    Eligible Institution. To comply with the guaranteed delivery
    procedure, you must (1)&#160;properly complete and duly execute
    a notice of guaranteed delivery substantially in the form
    provided to you by Liberty Media, specifying the price at which
    you are tendering your Shares, including (where required) a
    Signature Guarantee by an Eligible Institution in the form set
    forth in the notice of guaranteed delivery; (2)&#160;arrange for
    the Depositary to receive the notice of guaranteed delivery by
    the Expiration Date; and (3)&#160;ensure that the Depositary
    receives the certificates for all physically tendered Shares or
    book-entry confirmation of electronic delivery of Shares, as the
    case may be, together with a properly completed and duly
    executed Letter of Transmittal with any required signature
    guarantees or an Agent&#146;s Message, and all other documents
    required by this Letter of Transmittal, within three Nasdaq
    trading days after receipt by the Depositary of such notice of
    guaranteed delivery, all as provided in Section&#160;3 of the
    Offer to Purchase.
</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 notice of guaranteed delivery may be delivered by hand,
    facsimile transmission or mail to the Depositary and must
    include, if necessary, a guarantee by an eligible guarantor
    institution in the form set forth in such notice. For Shares to
    be tendered validly under the guaranteed delivery procedure, the
    Depositary must receive the notice of guaranteed delivery before
    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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    THE METHOD OF DELIVERY OF ALL DOCUMENTS, INCLUDING CERTIFICATES
    FOR SHARES, IS AT THE OPTION AND RISK OF THE TENDERING
    STOCKHOLDER. IF YOU CHOOSE TO DELIVER THE DOCUMENTS BY MAIL, WE
    RECOMMEND THAT YOU USE REGISTERED MAIL WITH RETURN
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    10
</DIV><!-- END LOGICAL PAGE -->
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<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: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    RECEIPT REQUESTED, PROPERLY INSURED. IN ALL CASES, PLEASE ALLOW
    SUFFICIENT TIME TO ASSURE DELIVERY.
</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">
    Except as provided herein or in the Offer to Purchase, Liberty
    Media will not accept any alternative, conditional or contingent
    tenders, nor will it purchase any fractional Shares. By
    executing this Letter of Transmittal, you waive any right to
    receive any notice of the acceptance for payment of your
    tendered Shares.
</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">
    3.&#160;<B><I>Withdrawal of Tenders.</I></B>&#160;&#160;A tender
    of Shares may be withdrawn at any time prior to the Expiration
    Date, but no consideration shall be payable in respect of the
    Shares so withdrawn.
</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">
    For a withdrawal of Shares to be effective, the Depositary must
    timely receive either an Agent&#146;s Message or a written or
    faxed notice of withdrawal specifying the name of the tendering
    stockholder, a description of the Shares to be withdrawn, the
    amount of Shares to be withdrawn and, if the Shares were
    tendered pursuant to the book-entry transfer facility the number
    of the account at DTC to be credited with the withdrawn Shares.
    Any &#147;notice of withdrawal&#148; must be signed by the
    holder of such Shares in the same manner as the original
    signature on the Letter of Transmittal by which such Shares were
    tendered (including any required signature guarantees), or be
    accompanied by evidence sufficient to the Depositary that the
    person withdrawing the tender has succeeded to the beneficial
    ownership of the Shares being withdrawn. If the Shares to be
    withdrawn have been delivered or otherwise identified to the
    Depositary, an Agent&#146;s Message or a signed notice of
    withdrawal is effective immediately upon receipt by the
    Depositary of the Agent&#146;s Message or written or faxed
    notice of such withdrawal even if re-transfer by DTC book-entry
    is not immediately effected.
</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">
    Any permitted withdrawal of tendered Shares may not be rescinded
    by the stockholder and any Shares properly withdrawn will
    thereafter be deemed not validly tendered; <I>provided</I>,
    <I>however</I>, that properly withdrawn Shares may be
    re-tendered, by again following one of the appropriate
    procedures described in Section&#160;3 of the Offer to Purchase
    at any time at or 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Stockholders can withdraw the tender of their Shares only in
    accordance with the foregoing procedures.
</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 questions as to the validity, form and eligibility
    (including time of receipt) of notices of withdrawal will be
    determined by Liberty Media, in Liberty Media&#146;s sole
    discretion (whose determination shall be final and binding).
    None of Liberty Media, the Depositary, the Information Agent or
    any other person will be under any duty to give notification of
    any defects or irregularities in any notice of withdrawal, or
    incur any liability for failure to give any such notification.
</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">
    4.&#160;<B><I>Inadequate Space.</I></B>&#160;&#160;If the space
    provided in the box captioned &#147;Description of
    Shares&#160;Tendered&#148; is inadequate, then you should list
    the certificate numbers, the number of Shares represented by the
    certificate(s) and the number of Shares tendered with respect to
    each certificate on a separate signed schedule attached to 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: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    5.&#160;<B><I>Partial Tenders and Unpurchased
    Shares.</I></B>&#160;&#160;(Not applicable to stockholders who
    tender by book-entry transfer.) If you wish to tender
    (<I>i.e.</I>, offer to sell) fewer than all of the Shares
    evidenced by any certificate(s) that you deliver to the
    Depositary, fill in the number of Shares that you wish to tender
    in the column entitled &#147;Number of
    Shares&#160;Tendered.&#148; In this case, if Liberty Media
    purchases some but not all of the Shares that you tender,
    Liberty Media will issue to you a new certificate for the
    unpurchased Shares. The new certificate will be sent to the
    registered holder(s) as promptly as practicable after the
    Expiration Date. Unless you indicate otherwise, all Shares
    represented by the certificate(s) listed and delivered to the
    Depositary will be deemed to have been tendered. In the case of
    Shares tendered by book-entry transfer at the book-entry
    transfer facility, any tendered but unpurchased Shares will be
    credited to the appropriate account maintained by the tendering
    stockholder at the book-entry transfer facility. In each case,
    Shares will be returned or credited without expense to the
    stockholder.
</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">
    6.&#160;<B><I>Indication of Price at Which Shares are Being
    Tendered.</I></B>&#160;&#160;In order to validly tender your
    Shares by this Letter of Transmittal, you must either:
</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">
    a.&#160;check the box under &#147;<B>Shares&#160;Tendered at
    Price Determined Pursuant to the Tender Offer</B>&#148; in order
    to maximize the chance of having Liberty Media purchase all of
    the Shares that you tender (subject to the possibility of
    proration); <B>or</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 -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<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">
    b.&#160;check one of the boxes indicating the price per Share at
    which you are tendering such Shares in the section entitled
    &#147;<B>Shares&#160;Tendered at Price Determined by
    Stockholder</B>.&#148;
</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">
    YOU MUST CHECK ONE, AND ONLY ONE, BOX. If you check more than
    one box or no boxes, then you will be deemed not to have validly
    tendered your Shares. IF YOU WISH TO TENDER PORTIONS OF YOUR
    DIFFERENT SHARES&#160;HOLDING AT DIFFERENT PRICES, YOU MUST
    COMPLETE A SEPARATE LETTER OF TRANSMITTAL FOR EACH PRICE AT
    WHICH YOU WISH TO TENDER EACH SUCH PORTION OF YOUR SHARE
    HOLDINGS. You cannot tender the same Shares at more than one
    price (unless, prior to tendering previously tendered Shares at
    a new price, you validly withdrew those Shares in accordance
    with Section&#160;4 of the Offer to Purchase).
</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">
    By checking the box under &#147;Shares&#160;Tendered at Price
    Determined Pursuant to the Tender Offer&#148; you agree to
    accept the purchase price for Shares resulting from the tender
    offer process. If you agree to accept the purchase price
    determined by Liberty Media, your Shares will be deemed to be
    tendered at the minimum price of $105.00&#160;per share. You
    should understand that this election may lower the purchase
    price paid for all purchased Shares in the Tender Offer and
    could result in your Shares being purchased at the minimum price
    of $105.00 per share. By checking a box under
    &#147;Shares&#160;Tendered at Price Determined by
    Stockholder,&#148; you acknowledge that doing so could result in
    none of the Shares you tender being purchased if the purchase
    price for Shares is less than the price you selected.
</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">
    7.&#160;<B><I>Conditional Tender.</I></B>&#160;&#160;As
    described in Sections&#160;3 and 6 of the Offer to Purchase,
    stockholders may condition their tenders on all or a minimum
    number of their tendered Shares being purchased.
</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 make a conditional tender, a stockholder must indicate this
    in the box captioned &#147;Conditional Tender&#148; in this
    Letter of Transmittal or, if applicable, the notice of
    guaranteed delivery. In the box in this Letter of Transmittal or
    the notice of guaranteed delivery, a stockholder must calculate
    and appropriately indicate the minimum number of Shares that
    must be purchased from the tendering stockholder if any are to
    be purchased.
</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">
    As discussed in Sections&#160;3 and 6 of the Offer to Purchase,
    proration may affect whether Liberty Media accepts conditional
    tenders and may result in Shares tendered pursuant to a
    conditional tender at or below the purchase price not being
    purchased if the minimum number of Shares would not be
    purchased. If, because of proration, the minimum number of
    Shares designated will not be purchased, Liberty Media may
    accept conditional tenders by random lot, if necessary. However,
    to be eligible for purchase by random lot, a stockholder must
    have tendered all his or her Shares and checked the box so
    indicating. Upon the selection by lot, if any, Liberty Media
    will limit its purchase in each case to the designated minimum
    number of Shares.
</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 tendered Shares will be deemed unconditionally tendered
    unless the &#147;Conditional Tender&#148; box is completed.
</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">
    8.&#160;<B><I>Signatures on Letter of Transmittal; Signature
    Guarantees.</I></B>
</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>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Exact Signature.</I>&#160;&#160;If this Letter of Transmittal
    is signed by the registered holder(s) of the Shares tendered
    hereby, the signature(s) must correspond with the name(s)
    written on the face of the certificate(s) without any change
    whatsoever.
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Joint Holders.</I>&#160;&#160;If the Shares tendered are
    registered in the names of two or more persons, each such person
    must sign this Letter of Transmittal.
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Signatures of Fiduciaries.</I>&#160;&#160;If this Letter of
    Transmittal is signed by a trustee, executor, administrator,
    guardian,
    <FONT style="white-space: nowrap">attorney-in-fact,</FONT>
    officer of a corporation or any other person acting in a
    fiduciary or representative capacity, that person should so
    indicate when signing and must submit to the Depositary proper
    evidence satisfactory to Liberty Media of his or her authority
    to so act.
</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>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Endorsements.</I>&#160;&#160;If this Letter of Transmittal is
    signed by the registered holder(s) of the Shares tendered
    hereby, no endorsements of certificate(s) representing such
    Shares or separate stock powers are required unless payment of
    the purchase price for Shares is to be made, or the certificates
    for Shares not tendered or tendered but not purchased are to be
    issued, to a person other than the registered holder(s).
</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 -->
<!-- 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 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">
    SIGNATURE(S) ON ANY SUCH CERTIFICATE(S) OR STOCK POWERS MUST BE
    GUARANTEED BY AN ELIGIBLE INSTITUTION.
</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 this Letter of Transmittal is signed by a person other than
    the registered holder(s) of the Shares tendered hereby, or if
    payment is to be made to a person other than the registered
    holder(s), the certificate(s) for the Shares must be endorsed or
    accompanied by appropriate stock powers, in either case, signed
    exactly as the name(s) of the registered holder(s) appear(s) on
    the certificate(s) for such Shares, and the signature(s) on such
    certificates or stock power(s) must be guaranteed by an Eligible
    Institution. See Instruction&#160;1.
</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">
    9.&#160;<B><I>Transfer Taxes.</I></B>&#160;&#160;Except as set
    forth in this Instruction&#160;9, Liberty Media will pay or
    cause to be paid any transfer taxes with respect to the transfer
    and sale of Shares to it, or to its order, pursuant to the
    Tender Offer. If payment is to be made to, or if Shares not
    tendered or purchased are to be registered in the name of, any
    persons other than the registered owners, or if tendered Shares
    are registered in the name of any persons other than the persons
    signing this Letter of Transmittal, the amount of any transfer
    taxes (whether imposed on the registered holder or such other
    person) payable on account of the transfer to such other person
    will be deducted from the payment unless satisfactory evidence
    of the payment of such taxes or exemption therefrom is submitted.
</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">
    10.&#160;<B><I>Special Payment and Delivery
    Instructions.</I></B>&#160;&#160;If any of the following
    conditions holds:
</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">
    a.&#160;check(s) for the purchase price for Shares purchased
    pursuant to the Tender Offer are to be issued to a person other
    than the person(s) signing this Letter of Transmittal;&#160;or
</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">
    b.&#160;check(s) for the purchase price of Shares are to be sent
    to any person other than the person signing this Letter of
    Transmittal, or to the person signing this Letter of
    Transmittal, but at a different address;
</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">
    c.&#160;certificates for any Shares not tendered, or tendered
    but not purchased, are to be returned to and in the name of a
    person other than the person(s) signing this Letter of
    Transmittal; or
</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">
    d.&#160;certificates for shares not tendered, or tendered but
    not purchased, are to be returned to the person signing this
    Letter of Transmittal at a different address,
</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">
    then, in each such case, you must complete the boxes captioned
    &#147;Special Payment Instructions&#148;
    <FONT style="white-space: nowrap">and/or</FONT>
    &#147;Special Delivery Instructions&#148; as applicable in this
    Letter of Transmittal and make sure that the signatures herein
    are guaranteed as described in Instructions&#160;1 and 8.
</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">
    11.&#160;<B><I>Odd Lots.</I></B>&#160;&#160;As described in
    Section&#160;1 of the Offer to Purchase &#147;Number of Shares;
    Proration&#148;, if Liberty Media is to purchase fewer than all
    Shares properly tendered on or before the Expiration Date and
    not properly withdrawn, the Shares purchased first will consist
    of all Shares properly tendered by any stockholder who owns
    beneficially or of record an aggregate of fewer than
    100&#160;Shares, and who tenders all of such holder&#146;s
    Shares at or below the applicable purchase price. This
    preference will not be available unless the section of this
    Letter of Transmittal captioned &#147;Odd Lots&#148; is
    completed.
</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">
    12.&#160;<B><I>Tax Identification Number and
    Withholding.</I></B>&#160;&#160;Under the federal income tax
    laws, the Depositary will be required to withhold 28% of the
    amount of any payments made to certain stockholders pursuant to
    the Tender Offer. In order to avoid such backup withholding,
    each tendering stockholder that is a U.S.&#160;person (including
    a U.S.&#160;resident alien) must provide the Depositary with
    such stockholder&#146;s correct taxpayer identification number
    by completing the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    set forth 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">
    Certain stockholders (including, among others, all corporations
    and certain foreign individuals) are not subject to these backup
    withholding and reporting requirements. In order to satisfy the
    Depositary that a foreign stockholder qualifies as an exempt
    recipient, such stockholder must submit an IRS
    <FONT style="white-space: nowrap">Form&#160;W-8BEN</FONT>
    or
    <FONT style="white-space: nowrap">Form&#160;W-8ECI</FONT>
    (or in the case of certain foreign partnerships and other
    foreign intermediaries,
    <FONT style="white-space: nowrap">Form&#160;W-8IMY),</FONT>
    signed under penalties of perjury, attesting to that
    stockholder&#146;s exempt status. You can obtain a copy of the
    appropriate
    <FONT style="white-space: nowrap">Form&#160;W-8</FONT>
    from the Depositary. Although filing the appropriate
    <FONT style="white-space: nowrap">Form&#160;W-8</FONT>
    will prevent backup withholding, withholding at a rate of 30%
    (or such lower rate as set forth in an applicable income tax
    treaty) will generally be made on payments to a foreign person
    or entity unless such payment is effectively connected with the
    conduct of a trade or business within in the United States. If
    the payment is &#147;effectively connected income&#148; to a
    foreign person or entity, such person or entity may obtain an
    exemption from withholding by filing a
    <FONT style="white-space: nowrap">Form&#160;W-8ECI.</FONT>
    If the payment is not &#147;effectively
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    13
</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: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    connected income,&#148; certain foreign partnerships and other
    foreign intermediaries may obtain an exemption from withholding
    by filing a
    <FONT style="white-space: nowrap">Form&#160;W-8IMY,</FONT>
    and other persons may be able to claim an exemption form, or a
    reduction in, withholding pursuant to an applicable income tax
    treaty by filing
    <FONT style="white-space: nowrap">Form&#160;W-8BEN.</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">
    For further information concerning backup withholding and
    instructions for completing the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    (including how to obtain a taxpayer identification number if you
    do not have one and how to complete the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    if Shares are held in more than one name), consult the enclosed
    Guidelines for Certification of Taxpayer Identification Number
    on Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9.</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">
    13.&#160;<B><I>Irregularities.</I></B>&#160;&#160;Liberty Media
    will determine, in its sole discretion, all questions as to the
    validity, form, eligibility (including time of receipt) and
    acceptance for payment of any tender of Shares and its
    determination shall be final and binding on all parties. Liberty
    Media reserves the absolute right to reject any and all tenders
    of Shares determined by it not to be in the proper form or the
    acceptance of or payment for which may be unlawful. Liberty
    Media also reserves the absolute right to waive any of the
    conditions of the Tender Offer or any defect or irregularity in
    the tender of any particular Shares and Liberty Media&#146;s
    interpretation of the terms of the Tender Offer (including these
    instructions) shall be final and binding on all parties. No
    tender of Shares will be deemed to be validly made until all
    defects and irregularities have been cured or waived. Unless
    waived, all defects or irregularities in connection with tenders
    must be cured within such time as Liberty Media shall determine.
    None of Liberty Media, the Depositary, the Information Agent nor
    any other person is or will be obligated to give notice of
    defects or irregularities in tenders, nor shall any of them
    incur any liability for failure to give any such notice.
</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">
    14.&#160;<B><I>Waiver of Conditions.</I></B>&#160;&#160;Liberty
    Media expressly reserves the absolute right, in its sole
    discretion, to waive any of the conditions to the Tender Offer
    in the case of any Shares tendered, in whole or in part, at any
    time and from time to time.
</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">
    15.&#160;<B><I>Lost, Stolen, Destroyed or Mutilated
    Certificates.</I></B>&#160;&#160;If any certificate representing
    any Shares has been lost, stolen, destroyed or mutilated, you
    should notify Computershare Shareholder Services, Inc., the
    transfer agent for the Shares, by calling 1-888-218-4391 (or, if
    calling from outside the United States,
    <FONT style="white-space: nowrap">781-575-4579</FONT>
    and asking for instructions on obtaining replacement
    certificate(s) at the address specified on the cover of this
    letter of transmittal. Computershare Shareholder Services, Inc.
    will require you to complete an affidavit of loss and return it
    to Computershare Shareholder Services. You will then be
    instructed by Computershare Shareholder Services as to the steps
    you must take in order to replace the certificate. You may be
    required to post a bond to secure against the risk that the
    certificate may be subsequently recirculated.
</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">
    We cannot process this Letter of Transmittal and related
    documents until you have followed the procedures for replacing
    lost, stolen, destroyed or mutilated certificates. We urge you
    to contact the transfer agent, Computershare Shareholder
    Services, Inc., immediately, in order to receive further
    instructions, for a determination as to whether you will need to
    post a bond, and to permit timely processing of this
    documentation.
</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">
    16.&#160;<B><I>Requests for Assistance or Additional
    Copies.</I></B>&#160;&#160;Questions relating to the procedure
    for tendering Shares and requests for assistance or additional
    copies of the Offer to Purchase and this Letter of Transmittal
    may be directed to, and additional information about the Tender
    Offer may be obtained from the Information Agent whose address
    and telephone number appear on the last page of the Offer to
    Purchase.
</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">The
    Information Agent for the Tender Offer is:</FONT></I>
</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">
    D.F. KING&#160;&#38; CO., INC.
</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">
    48 Wall Street
</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">
    New York, NY 10005
</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">
    Banks and Brokers call:
    <FONT style="white-space: nowrap">(212)&#160;269-5550</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">
    Toll free
    <FONT style="white-space: nowrap">(888)&#160;628-1041</FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    14
</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: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="25%">&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="34%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="center" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
    <B><FONT style="font-size: 11pt">SUBSTITUTE<BR>
    FORM&#160;</FONT><FONT style="font-size: 16pt"><FONT style="white-space: nowrap">W-9</FONT><BR>
    </FONT></B><FONT style="font-size: 10pt">Department of the
    Treasury<BR>
    Internal Revenue Service<BR>
    Payer&#146;s Request for<BR>
    Taxpayer Identification<BR>
    Number (&#147;TIN&#148;) and<BR>
    Certification
    </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 align="left" valign="top" style="border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">Part&#160;1</FONT></B><FONT style="font-size: 10pt">&#160;&#151;
    PLEASE PROVIDE YOUR TIN IN THE BOX AT RIGHT AND CERTIFY BY
    SIGNING AND DATING BELOW
    </FONT>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD align="left" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
<DIV style="text-indent: -22pt; margin-left: 22pt">
    <FONT style="font-size: 10pt">TIN:&#160;<FONT style="word-spacing: 200pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=208 iwidth=156 length=0 --><BR>
    &#160;&#160;&#160;&#160;&#160;Social Security Number or<BR>
    &#160;&#160;&#160;&#160;&#160;Employee Identification Number
    </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 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>

<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="23%">&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="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="13%">&nbsp;</TD>	<!-- colindex=06 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    &nbsp;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&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 nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="12" 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">Part&#160;2</FONT></B><FONT style="font-size: 10pt">&#160;&#151;&#160;TIN
    Applied For&#160;&#160;<FONT face="wingdings">o</FONT>
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="12" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
    <B><FONT style="font-size: 8pt">(Please Print)<BR>
    </FONT></B><FONT style="font-size: 10pt">Name:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=201 iwidth=477 length=0 --><BR>
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="12" 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">
    <FONT style="font-size: 10pt">Business name, if different from
    above:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=201 iwidth=477 length=0 -->
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&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">Check appropriate box:
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -13pt; margin-left: 13pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;Individual/<BR>
    Sole proprietor
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;Corporation
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;Partnership
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;Other&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=208 iwidth=73 length=36 -->
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt">
<DIV style="text-indent: -13pt; margin-left: 13pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;Exempt
    from<BR>
    backup<BR>
    withholding
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD colspan="12" 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="12" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
    <FONT style="font-size: 10pt">Address:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=201 iwidth=477 length=0 --><BR>
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=201 iwidth=477 length=0 --><BR>
    City:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=201 iwidth=477 length=0 -->&#160;&#160;State:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=201 iwidth=477 length=0 -->&#160;&#160;Zip:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=201 iwidth=477 length=0 -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="12" valign="top" 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">Part&#160;3</FONT></B><FONT style="font-size: 10pt">&#160;&#151;&#160;CERTIFICATION&#160;&#151;&#160;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),<BR>
    (2)&#160;I am not subject to backup withholding because
    (a)&#160;I am exempt from backup withholding, (b)&#160;I have
    not been notified by the Internal Revenue Service (IRS) that I
    am subject to backup withholding as a result of a failure to
    report all interest or dividends, or (c)&#160;the IRS has
    notified me that I am no longer subject to backup
    withholding,&#160;and<BR>
    (3)&#160;I am a U.S.&#160;person (including a U.S.&#160;resident
    alien).
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="12" valign="top" 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">Certification
    Instructions:</FONT></B><FONT style="font-size: 10pt">&#160;&#160;You
    must cross out item (2)&#160;of Part&#160;3 if you have been
    notified by the IRS that you currently are subject to backup
    withholding because you have failed to report all interest and
    dividends on your tax return. Also, see instructions in the
    enclosed Guidelines for Certification of Taxpayer Identification
    Number on Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9.</FONT>
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="12" 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">
    <FONT style="font-size: 10pt">Signature:&#160;<FONT style="word-spacing: 200pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=201 iwidth=477 length=240 -->&#160;&#160;Date:&#160;<FONT style="word-spacing: 160pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=201 iwidth=477 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 nowrap align="left" valign="bottom" 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 nowrap align="left" valign="bottom" 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&#160;2 OF THE SUBSTITUTE FORM
    <FONT style="white-space: nowrap">W-9</FONT>
    INDICATING YOU HAVE APPLIED FOR, AND ARE AWAITING RECEIPT OF,
    YOUR TIN.</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 align="center" style="margin-left: 2%; margin-right: 2%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>CERTIFICATE OF AWAITING TAXPAYER IDENTIFICATION NUMBER</B>
</DIV>

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

<DIV align="left" style="margin-left: 2%; margin-right: 2%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>I certify under penalties of perjury that a taxpayer
    identification number has not been issued to me, and either
    (1)&#160;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)&#160;I intend to mail or deliver an application in the
    near future. I understand that if I do not provide a taxpayer
    identification number to the payor by the time of payment,
    backup withholding will apply to all payments made to me
    pursuant to the Offers.</B>
</DIV>

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

<DIV align="left" style="margin-left: 2%; margin-right: 2%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Signature&#160;<FONT style="word-spacing: 200pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=128 iwidth=480 length=0 -->&#160;&#160;&#160;&#160;&#160;&#160;Date&#160;<FONT style="word-spacing: 160pt; white-space: nowrap; font-size: 1pt"><U>_
    _</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>

<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>NOTE:&#160;&#160;FAILURE TO COMPLETE AND RETURN THIS
    FORM&#160;MAY RESULT IN BACKUP WITHHOLDING AT A RATE OF 28% ON
    ANY PAYMENTS MADE TO YOU PURSUANT TO THE OFFERS. PLEASE REVIEW
    THE ENCLOSED GUIDELINES FOR CERTIFICATION OF TAXPAYER
    IDENTIFICATION NUMBER ON SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT>
    FOR ADDITIONAL DETAILS.</B>
</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 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">GUIDELINES
    FOR CERTIFICATION OF TAXPAYER IDENTIFICATION</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>NUMBER ON SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</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: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Guidelines for Determining the Proper Identification Number
    to Give the Payor.</B>&#160;&#160;A Social Security Number (SSN)
    has nine digits separate by two hyphens: i.e.
    <FONT style="white-space: nowrap">000-00-0000.</FONT>
    An Employer Identification Number (EIN) has nine digits
    separated by only one hyphen, i.e.
    <FONT style="white-space: nowrap">00-0000000.</FONT>
    The table below will help determine the number to give the payor.
</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: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&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="45%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="46%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom" 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">
    <B>Give the SOCIAL<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>SECURITY number<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom">
    <B>For this type of account:</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>of&#160;&#151;</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top" style="border-top: 1px solid #000000">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">1.
    </FONT>
</DIV>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 8pt">Individual
    </FONT>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 8pt">The individual
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">2.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Two or more individuals (joint
    account)
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The actual owner of the account or,
    if combined funds, the first individual on the account.(1)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">3.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Custodian account of a minor
    (Uniform Gift to Minors Act)
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The minor(2)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">4.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 8pt">a.&#160;The usual revocable savings
    trust account (grantor is also trustee)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The grantor-trustee(1)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 8pt">b.&#160;So-called trust account
    that is not a legal or valid trust under state law
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The actual owner(1)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">5.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Sole proprietorship or single-owner
    LLC
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The owner(3)
    </FONT>
</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 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: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="6%">&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="44%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="45%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom" 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">
    <B>Give the EMPLOYER<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>IDENTIFICATION number<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom">
    <B>For this type of account:</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>of&#160;&#151;</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top" style="border-top: 1px solid #000000">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">6.
    </FONT>
</DIV>
</TD>
<TD style="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">
    <FONT style="font-size: 8pt">Sole proprietorship or single-owner
    LLC account
    </FONT>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 8pt">The owner(3)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">7.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">A valid trust, estate, or pension
    trust
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The legal entity(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">8.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Corporation or LLC electing
    corporate status on Form 8832
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The corporation or LLC
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">9.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Association, club, religious,
    charitable, educational or other tax-exempt organization
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The organization
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">10.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Partnership or multi-member LLC
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The partnership or LLC
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">11.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">A broker or registered nominee
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The broker or nominee
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">12.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Account with the Department of
    Agriculture in the name of a public entity (such as a state or
    local government, school district, or prison) that receives
    agricultural program payments
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The public entity
    </FONT>
</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 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>



<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: 8pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">List first and circle the name of
    the person whose number you furnish. If only one person on a
    joint account has an SSN, that person&#146;s number should be
    furnished.
    </FONT></TD>
</TR>



<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Circle the minor&#146;s name and
    furnish the minor&#146;s SSN.
    </FONT></TD>
</TR>



<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(3)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">You must show your individual name,
    but you may also enter your business or &#147;doing business
    as&#148; name. You may use either your SSN or EIN (if you have
    one).
    </FONT></TD>
</TR>



<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(4)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">List first and circle the name of
    the legal trust, estate, or pension trust. (Do not furnish the
    identifying number of the personal representative or trustee
    unless the legal entity itself is not designated in the account
    title.)
    </FONT></TD>
</TR>

</TABLE>

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

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

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <B>NOTE:</B>&#160;&#160;</TD>
    <TD align="left">
    If no name is circled when there is more than one name, the
    number will be considered to be that of the first name listed.
</TD>
</TR>

</TABLE>

<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 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">GUIDELINES
    FOR CERTIFICATION OF TAXPAYER<BR>
    IDENTIFICATION NUMBER ON SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT><BR>
    Page&#160;2</FONT></B>
</DIV>

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

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Obtaining
    a 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: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you don&#146;t have a taxpayer identification number or you
    don&#146;t know your number, obtain
    <FONT style="white-space: nowrap">Form&#160;SS-5,</FONT>
    Application for a Social Security Card, or
    <FONT style="white-space: nowrap">Form&#160;SS-4,</FONT>
    Application for Employer Identification Number, or
    <FONT style="white-space: nowrap">Form&#160;W-7,</FONT>
    Application for Individual Taxpayer Identification Number at the
    local office of the Social Security Administration or the
    Internal Revenue Service and apply for a number. You can get IRS
    Forms from the IRS by calling
    <FONT style="white-space: nowrap">1-800-829-3676</FONT>
    or from the IRS&#146;s internet website at www.irs.gov.
</DIV>

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

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Payees
    Exempt from Backup Withholding</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: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Payees specifically exempted from backup withholding on ALL
    payments include the following:
</DIV>

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

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

<TR>
    <TD width="1%"></TD>
    <TD width="2%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    An organization exempt from tax under section&#160;501(a), an
    IRA, or a custodial account under section&#160;403(b)(7) if the
    account satisfies the requirements of section&#160;401(f)(2).
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The United States or any agency or instrumentality thereof.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A state, the District of Columbia, a possession of the United
    States, or any political subdivision or instrumentality thereof.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A foreign government or any political subdivision, agency or
    instrumentality thereof.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    An international organization or any agency or instrumentality
    thereof.
</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: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Other payees that may be exempt from backup withholding include:
</DIV>

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

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

<TR>
    <TD width="1%"></TD>
    <TD width="2%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A corporation.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A financial institution.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A middleman known in the investment community as a nominee or
    custodian.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A dealer in securities or commodities registered in the United
    States or a possession of the United States
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A real estate investment trust.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A common trust fund operated by a bank under section&#160;584(a).
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A trust exempt from tax under section&#160;664 or described in
    section&#160;4947.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    An entity registered at all times during the tax year under the
    Investment Company Act of 1940.
</TD>
</TR>

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

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A foreign central bank of issue.
</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: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Exempt payees described above should file
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    to avoid possible erroneous backup withholding. FILE THIS
    FORM&#160;WITH THE PAYOR, FURNISH YOUR TAXPAYER IDENTIFICATION
    NUMBER, CHECK &#147;EXEMPT&#148; ON THE FACE OF THE FORM, SIGN
    AND DATE THE FORM&#160;AND RETURN IT TO THE PAYOR. IF YOU ARE A
    NONRESIDENT ALIEN OR A FOREIGN ENTITY NOT SUBJECT TO BACKUP
    WITHHOLDING, FILE WITH PAYOR A COMPLETED IRS
    <FONT style="white-space: nowrap">FORM&#160;W-8BEN</FONT>
    (CERTIFICATE OF FOREIGN STATUS OF BENEFICIAL OWNER FOR UNITED
    STATES TAX WITHHOLDING) OR, IF APPLICABLE, IRS
    <FONT style="white-space: nowrap">FORM&#160;W-8ECI</FONT>
    (CERTIFICATE OF FOREIGN PERSON&#146;S CLAIM FOR
    EXEMPTION&#160;FROM WITHHOLDING ON INCOME EFFECTIVELY CONNECTED
    WITH THE CONDUCT OF A TRADE OR BUSINESS IN THE UNITED STATES),
    OR IRS
    <FONT style="white-space: nowrap">FORM&#160;W-8IMY</FONT>
    (CERTIFICATE OF FOREIGN INTERMEDIARY, FOREIGN FLOW-THROUGH
    ENTITY, OR CERTAIN U.S.&#160;BRANCHES FOR UNITED STATES TAX
    WITHHOLDING).
</DIV>

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

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Privacy
    Act Notice.</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: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Section&#160;6109 requires most recipients of dividends,
    interest, or other payments to give taxpayer identification
    numbers to payors who must report the payments to the IRS. The
    IRS uses the numbers for identification purposes. Payors must be
    given the numbers whether or not recipients are required to file
    tax returns. Payors must generally withhold 28% (subject to
    further adjustment under applicable law) of taxable interest,
    dividends, and certain other payments to a payee who does not
    furnish a taxpayer identification number to a payor. Certain
    penalties may also apply.
</DIV>

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

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Penalties</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: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(I)&#160;Penalty for Failure to Furnish Taxpayer
    Identification Number.</B>&#160;&#160;If you fail to furnish
    your taxpayer identification number to a payor, you are subject
    to a penalty of $50 for each such failure unless your failure is
    due to reasonable cause and not to willful neglect.
</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: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(2)&#160;Civil Penalty for False Information With Respect to
    Withholding.</B>&#160;&#160;If you make a false statement with
    no reasonable basis that results in no imposition of backup
    withholding, you are subject to a penalty of $500.
</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: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(3)&#160;Criminal Penalty for Falsifying
    Information.</B>&#160;&#160;Willfully falsifying certifications
    or affirmations may subject you to criminal penalties including
    fines <FONT style="white-space: nowrap">and/or</FONT>
    imprisonment.
</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: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(4)&#160;Misuse of Taxpayer Identification
    Number.</B>&#160;&#160;If the requester discloses or uses
    taxpayer identification numbers in violation of federal law, the
    requester may be subject to civil and criminal penalties.
</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: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    FOR ADDITIONAL INFORMATION CONTACT YOUR TAX CONSULTANT OR THE
    INTERNAL REVENUE SERVICE
</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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">

</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 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">
    THIS LETTER OF TRANSMITTAL (OR FACSIMILE THEREOF), PROPERLY
    COMPLETED AND DULY EXECUTED (TOGETHER WITH ANY REQUIRED
    SIGNATURE GUARANTEES AND CONFIRMATION OF BOOK-ENTRY TRANSFER AND
    ALL OTHER REQUIRED DOCUMENTS) MUST BE RECEIVED BY THE DEPOSITARY
    AT ONE OF ITS ADDRESSES SET FORTH BELOW AT OR PRIOR TO THE
    EXPIRATION DATE FOR STOCKHOLDERS WISHING TO TENDER THEIR SHARES.
</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><I>The Depositary for the Tender Offer is:</I></B>
</DIV>

<DIV style="margin-top: 9pt; 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">COMPUTERSHARE
    SHAREHOLDER SERVICES, INC.</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="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">If by Mail:</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Overnight
    Delivery</FONT></I><FONT style="font-size: 10pt">:
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Computershare Shareholder<BR>
    Services, Inc.<BR>
    P.O. Box&#160;859208<BR>
    Braintree MA
    <FONT style="white-space: nowrap">02185-9208</FONT><BR>
    Attn: Corporate Actions
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Computershare Shareholder<BR>
    Services, Inc.<BR>
    161 Bay State Drive<BR>
    Braintree MA 02184<BR>
    Attn: Corporate Actions
    </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: 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">
    Requests for additional copies of the Offer to Purchase, this
    Letter of Transmittal and all other tender offer materials may
    be directed to the Information Agent as set forth below and will
    be furnished promptly at the Liberty Media&#146;s expense.
    Questions regarding the terms of the Offer to Purchase and this
    Letter of Transmittal may be directed to the Information Agent
    at its address and telephone number set forth below.
    Stockholders may also contact their broker, dealer, commercial
    bank, trust company or other nominee for assistance concerning
    the Tender Offer.
</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><I><FONT style="font-family: 'Times New Roman', Times">The
    Information Agent for the Tender Offer is:</FONT></I></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>D.F. King&#160;&#38; Co., Inc.</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>48 Wall Street</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>22nd&#160;Floor</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>New York, NY 10005</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>Banks and Brokers call:
    <FONT style="white-space: nowrap">(212)&#160;269-5550</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>Toll free
    <FONT style="white-space: nowrap">(888)&#160;628-1041</FONT></B>
</DIV>

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

</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(1)(III)
<SEQUENCE>4
<FILENAME>d44735a1exv99wxayx1yxiiiy.htm
<DESCRIPTION>NOTICE OF GUARANTEED DELIVERY
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99wxayx1yxiiiy</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 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>Exhibit (a)(1)(iii)</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: 16pt">NOTICE OF GUARANTEED DELIVERY
    FOR</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><FONT style="font-size: 16pt">LIBERTY MEDIA
    CORPORATION</FONT></B>
</DIV>

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

</FONT></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><FONT style="font-size: 14pt">OFFER TO PURCHASE FOR CASH<BR>
    UP TO 8,849,500 SHARES&#160;OF ITS<BR>
    LIBERTY CAPITAL SERIES&#160;A COMMON STOCK,<BR>
    AT A PURCHASE PRICE NOT GREATER THAN $113.00<BR>
    OR LESS THAN $105.00 PER SHARE</FONT></B>
</DIV>

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

</FONT></DIV>

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

</FONT></DIV>

<DIV style="margin-top: 4pt; 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">
    As set forth in Section&#160;3 of the offer to purchase dated
    March&#160;7, 2007, as amended and restated March 20, 2007, of
    Liberty Media Corporation (the &#147;Offer to Purchase&#148;),
    this notice of guaranteed delivery, or a facsimile hereof, must
    be used to accept the tender offer if:
</DIV>

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

</FONT></DIV>

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

</FONT></DIV>

<DIV style="margin-top: 4pt; 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">
    (a)&#160;certificates representing shares of Liberty Capital
    Series&#160;A common stock, par value $0.01&#160;per share, of
    Liberty Media Corporation, a Delaware corporation, cannot be
    delivered prior to the &#147;expiration date&#148; (as defined
    in Section&#160;1 of the Offer to Purchase);&#160;or
</DIV>

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

</FONT></DIV>

<DIV style="margin-top: 4pt; 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">
    (b)&#160;the procedure for book-entry transfer cannot be
    completed before the expiration date;&#160;or
</DIV>

<DIV style="margin-top: 4pt; 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">
    (c)&#160;time will not permit a properly completed and duly
    executed letter of transmittal, or manually signed facsimile
    thereof, and all other required documents to reach the
    depositary referred to below before the expiration date.
</DIV>

<DIV style="margin-top: 4pt; 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">
    This form or a facsimile of it, signed and properly completed,
    may be delivered by hand or transmitted by facsimile
    transmission or mailed to the Depositary so that it is received
    by the Depositary before the expiration date. See Section&#160;3
    of the Offer to Purchase.
</DIV>

<DIV style="margin-top: 4pt; 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">
    <I>The Depositary for the Offer is:</I>
</DIV>

<DIV style="margin-top: 4pt; 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">COMPUTERSHARE SHAREHOLDER
    SERVICES, INC.</FONT></B>
</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="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 nowrap align="center" valign="top">
    <B><I><FONT style="font-size: 10pt">By Mail:</FONT></I></B>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B><I><FONT style="font-size: 10pt">By Overnight
    Delivery:</FONT></I></B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Computershare Shareholder
    Services, Inc.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Computershare Shareholder
    Services, Inc.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Attn: Corporate Actions
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Attn: Corporate Actions
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">P.O. Box&#160;859208
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">161 Bay State Drive
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Braintree MA
    <FONT style="white-space: nowrap">02185-9208</FONT>
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Braintree MA 02184
    </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: 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">
    <I>By Facsimile Transmission (For Eligible Institutions
    Only):<BR>
    </I>Facsimile Transmission:<BR>
    <FONT style="white-space: nowrap">781-380-3388</FONT>
</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">
    <I>To Confirm Facsimile Transmissions (For Eligible Institutions
    Only):<BR>
    </I>Confirm Receipt of Facsimile<BR>
    By Telephone:<BR>
    <FONT style="white-space: nowrap">781-930-4900</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">
    DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS
    OTHER THAN THOSE SHOWN ABOVE OR TRANSMISSION OF
    INSTRUCTIONS&#160;VIA A FACSIMILE NUMBER OTHER THAN THE ONE
    LISTED ABOVE DOES NOT CONSTITUTE A VALID DELIVERY. DELIVERIES TO
    LIBERTY MEDIA CORPORATION OR THE INFORMATION AGENT FOR THE
    TENDER OFFER WILL NOT BE FORWARDED TO THE DEPOSITARY AND
    THEREFORE WILL NOT CONSTITUTE VALID DELIVERY. DELIVERIES TO THE
    BOOK-ENTRY TRANSFER FACILITY (AS DEFINED IN THE OFFER TO
    PURCHASE) WILL NOT CONSTITUTE VALID DELIVERY TO THE DEPOSITARY.
</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">
    This notice of guaranteed delivery form is not to be used to
    guarantee signatures. If a signature on the letter of
    transmittal is required to be guaranteed by an &#147;eligible
    guarantor institution&#148; (as defined in Section&#160;3 of the
    Offer to Purchase) under the instructions thereto, such
    signature must appear in the applicable space provided in the
    signature box on the letter of transmittal.
</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 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">
    Ladies and Gentlemen:
</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">
    The undersigned hereby tenders to Liberty Media Corporation the
    number of shares of Liberty Capital Series&#160;A common stock
    indicated below at a price per share not greater than $113.00 or
    less than $105.00, net to the seller in cash, less any
    applicable withholding taxes, without interest, upon the terms
    and subject to the conditions set forth in the Offer to Purchase
    and the related letter of transmittal which as may be amended
    and supplemented from time to time together constitute the
    tender offer, receipt of which are hereby acknowledged.
</DIV>

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

</FONT></DIV>

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

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

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

<TR>
    <TD width="50%"></TD>
    <TD width="50%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Number of shares of Liberty
    Capital Series&#160;A common stock:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=249 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

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

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

<TR>
    <TD width="25%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Certificate No(s). (if
    available):&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=373 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

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

</FONT></DIV>

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

</FONT></DIV>

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

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

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Name(s):&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=464 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; 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=504 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">
    <FONT style="font-size: 8pt">(Please Type or Print)
    </FONT>
</DIV>

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

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

<TR>
    <TD width="26%"></TD>
    <TD width="74%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Address(es) including Zip
    Code:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=368 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; 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=504 length=0 -->

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

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

<TR>
    <TD width="31%"></TD>
    <TD width="69%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Area Code and Telephone
    Number(s):&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=346 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

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

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

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Signature(s):&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=450 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<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">
    Dated:&#160;&#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: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If shares of Liberty Capital Series&#160;A common stock will be
    tendered by book-entry transfer, provide the following
    information:
</DIV>

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

</FONT></DIV>

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

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

<TR>
    <TD width="41%"></TD>
    <TD width="59%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Account Number at Book-Entry
    Transfer Facility:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=297 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<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: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<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">CHECK
    EXACTLY ONE BOX ON THIS PAGE. IF YOU CHECK MORE THAN ONE BOX, OR
    IF YOU DO NOT CHECK ANY BOX, YOU WILL HAVE FAILED TO VALIDLY
    TENDER ANY SHARES</FONT></B>
</DIV>

<DIV style="font-size: 18pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<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>SHARES&#160;TENDERED AT PRICE DETERMINED PURSUANT TO THE
    TENDER OFFER</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>(See Instruction&#160;6 of the Letter of Transmittal)</B>
</DIV>

<DIV style="font-size: 18pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

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

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

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    The undersigned wants to maximize the chance of having Liberty
    Media purchase all Shares the undersigned is tendering (subject
    to the possibility of proration). Accordingly, by checking this
    <B>one </B>box <B>instead of one of the price boxes below</B>,
    the undersigned hereby tenders Shares and is willing to accept
    the purchase price determined by Liberty Media pursuant to the
    Tender Offer. If you agree to accept the purchase price
    determined by Liberty, your Shares will be deemed to be tendered
    at the minimum price of $105.00&#160;per share. You should
    understand that this election may lower the purchase price paid
    for all purchased Shares in the Tender Offer and could result in
    your Shares being purchased at the minimum price of $105.00 per
    share.
</TD>
</TR>

</TABLE>

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

<DIV style="font-size: 18pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 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>&#151;OR&#151;</B>
</DIV>

<DIV style="font-size: 18pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 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>SHARES&#160;TENDERED AT PRICE DETERMINED BY STOCKHOLDER<BR>
    (See Instruction&#160;6 of the Letter of Transmittal)</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: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By checking <B>one </B>of the boxes below <B>instead of the box
    above</B>, the undersigned hereby tenders Shares at the price
    checked. This action could result in none of the Shares being
    purchased if the purchase price for the Shares is less than the
    price checked below. <B>A stockholder who desires to tender
    Shares at more than one price must complete a separate letter of
    transmittal for each price at which the stockholder tenders such
    shares.</B> You cannot tender the same Shares at more than one
    price, unless you have previously validly withdrawn those shares
    tendered at a different price in accordance with Section&#160;4
    of the Offer to Purchase.
</DIV>

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

</FONT></DIV>

<DIV style="font-size: 18pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 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">
    <B>Price (in dollars) per <I>Share </I>at which <I>Shares
    </I>are being tendered:</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="16%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=06 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=07 type=maindata -->
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.00
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.30
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.60
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.90
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.20
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.80
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.10
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.40
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.70
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.30
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.60
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.90
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.20
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.80
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.40
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.70
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$113.00
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.30
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.60
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.90
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.20
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.80
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.40
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.70
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.30
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.60
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.90
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.50
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.80
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.40
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.70
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.60
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.90
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.20
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.80
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.70
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.30
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.60
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.90
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.20
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.80
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.40
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.70
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.30
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$105.90
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.20
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.80
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.40
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.00
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.30
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.60
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$109.90
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.20
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.10
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.40
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.70
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.30
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.60
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$106.20
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$107.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$108.80
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$110.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$111.40
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>&#160;$112.70
    </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 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 will not have validly tendered your Shares unless you
    check one and only one box in this frame.</B>
</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<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="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">CONDITIONAL
    TENDER<BR>
    (See Instruction&#160;7 of the Letter of Transmittal)</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: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A tendering stockholder may condition his or her tender of
    Shares upon Liberty Media purchasing a specified minimum number
    of the Shares tendered by the tendering stockholder, all as
    described in Section&#160;6 of the Offer to Purchase
    &#147;Conditional Tender of Shares.&#148; Unless at least that
    minimum number of Shares indicated below is purchased by Liberty
    Media from the tendering stockholder pursuant to the terms of
    the Tender Offer, none of the Shares tendered by the tendering
    stockholder will be purchased. It is the tendering
    stockholder&#146;s responsibility to calculate that minimum
    number of Shares that must be purchased from the tendering
    stockholder if any are purchased, and each stockholder is urged
    to consult his or her own tax advisor. Unless this box has been
    checked and a minimum specified, the tender will be deemed
    unconditional.
</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="3%"></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">o</FONT>&#160;
</TD>
    <TD align="left">
    The minimum number of Shares that must be purchased from the
    tendering stockholder, if any are purchased,
    is:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares.
</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">
    If, because of proration, the minimum number of Shares
    designated will not be purchased, Liberty Media may accept
    conditional tenders by random lot, if necessary. However, to be
    eligible for purchase by random lot, the tendering stockholder
    must have tendered all of his or her Shares and, if true,
    checked the following box:
</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="3%"></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">o</FONT>&#160;
</TD>
    <TD align="left">
    The tendered Shares represent all Shares held by the undersigned.
</TD>
</TR>

</TABLE>

<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">ODD
    LOTS<BR>
    (See Instruction&#160;11 of the Letter of Transmittal)</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: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To be completed only if the Shares are being tendered by or on
    behalf of a person owning beneficially or of record an aggregate
    of fewer than 100&#160;Shares. The undersigned either <B>(check
    one box)</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="3%"></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">o</FONT>&#160;
</TD>
    <TD align="left">
    is the beneficial or record owner of an aggregate of fewer than
    100&#160;Shares, all of which are being tendered;&#160;or
</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>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">
    is a broker, dealer, commercial bank, trust company or other
    nominee that (a)&#160;is tendering for the beneficial owner(s)
    thereof, shares with respect to which it is record holder and
    (b)&#160;believes, based upon representations made to it by such
    beneficial owner(s), that each such person is the beneficial or
    record owner of an aggregate of fewer than 100&#160;Shares and
    is tendering all of such shares.
</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: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In addition, the undersigned is tendering Shares either
    <B>(check one box)</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="3%"></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">o</FONT>&#160;
</TD>
    <TD align="left">
    at the price determined by Liberty Media pursuant to the Tender
    Offer (persons checking this box need not indicate the price per
    share above);&#160;or
</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>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">
    at the price per share indicated above under
    &#147;Shares&#160;Tendered At Price Determined By
    Stockholder&#148;.
</TD>
</TR>

</TABLE>

<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: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<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 50 -->

<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>
    </FONT></B><FONT style="font-family: 'Times New Roman', Times">(NOT
    TO BE USED FOR SIGNATURE GUARANTEE)
    </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">
    THE UNDERSIGNED, A BANK, BROKER, DEALER, CREDIT UNION, SAVINGS
    ASSOCIATION OR OTHER ENTITY WHICH IS A MEMBER IN GOOD STANDING
    OF THE SECURITIES TRANSFER AGENTS MEDALLION PROGRAM OR AN
    &#147;ELIGIBLE GUARANTOR INSTITUTION,&#148; AS SUCH TERM IS
    DEFINED IN
    <FONT style="white-space: nowrap">RULE&#160;17Ad-15</FONT>
    UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, EACH OF
    THE FOREGOING CONSTITUTING AN &#147;ELIGIBLE GUARANTOR
    INSTITUTION,&#148; GUARANTEES THE DELIVERY TO THE DEPOSITARY OF
    THE SHARES&#160;TENDERED HEREBY, IN PROPER FORM&#160;FOR
    TRANSFER, OR A CONFIRMATION THAT THE SHARES&#160;TENDERED HEREBY
    HAVE BEEN DELIVERED UNDER THE PROCEDURE FOR BOOK-ENTRY TRANSFER
    SET FORTH IN THE OFFER TO PURCHASE INTO THE DEPOSITARY&#146;S
    ACCOUNT AT THE BOOK-ENTRY TRANSFER FACILITY, TOGETHER WITH A
    PROPERLY COMPLETED AND DULY EXECUTED LETTER OF TRANSMITTAL, OR A
    MANUALLY SIGNED FACSIMILE THEREOF, AND ANY OTHER REQUIRED
    DOCUMENTS, ALL WITHIN THREE NASDAQ GLOBAL SELECT MARKET TRADING
    DAYS OF THE DATE HEREOF.
</DIV>

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

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

<TR>
    <TD width="13%"></TD>
    <TD width="87%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Name of Firm:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=417 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; 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">AUTHORIZED SIGNATURE</FONT></B>
</DIV>

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

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

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Name:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=451 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<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">
    <FONT style="font-size: 8pt">(Please Type or Print)
    </FONT>
</DIV>

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

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

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Title:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=456 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

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

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

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Address:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=442 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<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">
    Zip Code
</DIV>

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

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

<TR>
    <TD width="30%"></TD>
    <TD width="70%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Area Code and Telephone
    Number:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=332 length=0 -->
    </font>
</TD>
</TR>

</TABLE>

<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">
    Dated:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2007
</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">
    DO NOT SEND SHARE CERTIFICATES WITH THIS NOTICE OF GUARANTEED
    DELIVERY. SHARE CERTIFICATES SHOULD BE SENT WITH YOUR LETTER OF
    TRANSMITTAL.
</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">

</DIV>
</DIV><!-- End box 50 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(5)(V)
<SEQUENCE>5
<FILENAME>d44735a1exv99wxayx5yxvy.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99wxayx5yxvy</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.(a)(5)(v)</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">Liberty
    Media Corporation Announces Amendment to its Previously<BR>
    Announced Self-Tender Offer</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: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Englewood, Colorado&#160;&#151; March&#160;20, 2007&#160;&#151;
    Liberty Media Corporation (Nasdaq: LCAPA) (&#147;Liberty&#148;)
    announced today that it had amended its previously announced
    self-tender offer so that the tender offer would be for up to
    8,849,500&#160;shares of its Liberty Capital Series&#160;A
    common stock (LCAPA) and that Liberty would no longer be seeking
    to acquire any shares of its Liberty Capital Series&#160;B
    common stock (LCAPB) pursuant to the tender offer. On
    March&#160;7, 2007, Liberty commenced a tender offer pursuant to
    which it sought to purchase up to 8,849,500 LCAPA shares and
    LCAPB shares, in the aggregate, from its stockholders at a price
    not greater than $113.00 or less than $105.00&#160;per share.
    Except as noted herein, the terms of the amended tender offer
    remain unchanged from the tender offer commenced on
    March&#160;7, 2007, as set forth in the offer to purchase dated
    March&#160;7, 2007, as amended and supplemented, and the related
    letter of transmittal. The expiration date for the tender offer
    is 5:00 pm, New York City time, on April&#160;5, 2007.
</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">
    Under the terms of the revised tender offer, Liberty is seeking
    to acquire up to 8,849,500 LCAPA shares from its stockholders at
    a price not greater than $113.00 or less than $105&#160;per
    share, upon the terms and conditions described in the offer to
    purchase dated March&#160;7, 2007, as amended and restated
    March&#160;20, 2007, and related letter of transmittal.
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    To the extent any LCAPB shares have been tendered prior to the
    date hereof, such shares will be promptly returned to the
    tendering stockholder.
</DIV>



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    <B><FONT style="font-family: 'Times New Roman', Times">About
    Liberty Media Corporation</FONT></B>
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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">
    Liberty Media Corporation owns a broad range of electronic
    retailing, media, communications and entertainment businesses
    and investments. Those interests are attributed to two tracking
    stock groups: the Liberty Interactive group, which includes
    Liberty&#146;s interests in QVC, Provide Commerce,
    IAC/InterActiveCorp, and Expedia, and the Liberty Capital group
    includes Liberty&#146;s interests in Starz Entertainment, News
    Corporation, and Time Warner. For more information, please see
    www.libertymedia.com.
</DIV>



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    This press release is for informational purposes only and is not
    an offer to buy, or the solicitation of an offer to sell, any
    shares. The full details of the tender offer, including complete
    instructions on how to tender shares, along with the letter of
    transmittal and related materials, are contained in the Offer to
    Purchase, dated March&#160;7, 2007 as amended and restated on
    March&#160;20, 2007, and related letter of transmittal.
    Stockholders should carefully read the offer to purchase, the
    letter of transmittal and other related materials because they
    contain important information. Stockholders may obtain free
    copies of the Tender Offer Statement on Schedule&#160;TO, the
    offer to purchase and other documents that are filed by Liberty
    Media with the U.S.&#160;Securities and Exchange Commission at
    the commission&#146;s website at www.sec.gov. Stockholders also
    may obtain a copy of these documents, without charge, from D.F.
    King&#160;&#38; Co., Inc., the information agent for the tender
    offer, by calling toll free 1-888-628-1041. Stockholders are
    urged to read these materials carefully prior to making any
    decision with respect to the tender offer.
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    <B>Contact:</B>
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    <B>Liberty Media</B>
</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">
     John Orr
    <FONT style="white-space: nowrap">(720)&#160;875-5622</FONT>
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