PRESS RELEASE                                                                UPC

            UNITED PAN-EUROPE COMMUNICATIONS N.V. FILES FIRST AMENDED
            PLAN OF REORGANISATION, DISCLOSURE STATEMENT AND AKKOORD

Amsterdam, December 23, 2002 - In connection with its ongoing restructuring,
United Pan-Europe Communications N.V., the financial holding company of the UPC
group ("UPC") (EURONEXT Amsterdam: UPC), today announces that, together with New
UPC Inc, a newly formed Delaware company that will become the holding company
for UPC upon consummation of UPC's recapitalisation, it has filed a first
amended plan of reorganisation (the "Plan") and a related first amended
disclosure statement with the United States court. In addition, UPC has
submitted a revised version of the draft plan of compulsory composition
(Akkoord) to the Dutch court. UPC will seek approval to solicit acceptances of
the Plan at a hearing scheduled before the United States court on January 7,
2003. The creditors' meeting regarding the Akkoord is currently scheduled for
February 28, 2003 in the Amsterdam Court. UPC continues to anticipate that the
moratorium process in the Dutch court and the Chapter 11 process in the US court
will be completed by the end of the first quarter 2003.

A copy of all SEC filings relating to UPC's Chapter 11 and the moratorium
process may be found through the recapitalisation section of the UPC web site at
WWW.UPCCORP.COM.

United Pan-Europe Communications N.V. is one of the leading broadband
communications and entertainment companies in Europe. Through its broadband
networks, UPC provides television, Internet access, telephony and programming
services. UPC's shares are traded on Euronext Amsterdam Exchange (UPC) and in
the United States on the Over The Counter Bulletin Board (UPCOY.OB). UPC is
majority owned by UnitedGlobalCom, Inc. (NASDAQ: UCOMA)

NOTE: Except for historical information contained herein, this release contains
forward looking statements based upon management's beliefs, as well as
assumptions made by and data currently available to management. These forward
looking statements are based on a variety of assumptions that may not be
realised and are subject to significant business, economic, judicial and
competitive risks and uncertainties, many of which are beyond UPC's control.
These risks and uncertainties could cause actual events and UPC's liquidity,
capital resources, financial condition and results of operations to differ
materially from those expressed or implied by these statements. These risks and
uncertainties include, but are not limited to, UPC's ability to continue as a
going concern, UPC's ability to restructure its outstanding indebtedness on a
satisfactory and timely basis, UPC's ability to develop, confirm and consummate
the plan of reorganization under the US bankruptcy code and the Akkoord under
the Dutch bankrupty code, any ramifications of any restructuring, risks
associated with third parties taking actions inconsistent with, or detrimental
to, the consummation of the Plan and the Akkoord, potential adverse developments
with respect to UPC's financial condition, liquidity, cashflows or results of
operations, the acceptance and continued use by subscribers and potential
subscribers of UPC services, changes in the technology and competition, UPC's
ability to achieve expected operational efficiencies and economies of scale and
UPC's ability to generate expected revenue and achieve assumed margins, as well
as other factors detailed from time to time in UPC's filings with the US
Securities and Exchange Commission.


This press release shall not constitute an offer to exchange or sell, or the
solicitation of an offer to exchange or buy any securities of UPC or New UPC, or
a solicitation of any votes in favor of the plan or the Akkoord, nor shall there
be any exchange or sale of securities of UPC or New UPC or solicitation of votes
in favor of the plan or the Akkoord in any jurisdiction in which such offer,
exchange, sale or solicitation would be unlawful.

For further information please contact:

UPC Investor Relations                            UPC Corporate Communications
+ 44 (0) 207 647 8233                             + 31 (0) 20 778 9447
Email: ir@upccorp.com                             Email: CORPCOMMS@UPCCORP.COM

Lazard                                            Citigate First Financial
Richard Stables                                   Carina Hamaker
+ 44 (0) 20 7588 2721                             + 31 (0) 20 575 40 10

                                                  Citigate Dewe Rogerson
                                                  Toby Moore
                                                  + 44 (0) 20 7638 9571


Also, please visit www.upccorp.com for further information about UPC