Press Release                                                                UPC



         UNITED PAN-EUROPE COMMUNICATIONS N.V. ANNOUNCES COURT APPROVAL
            OF DISCLOSURE STATEMENT AND COMMENCEMENT OF SOLICITATION
                   PROCESS FOR VOTING ON ITS RECAPITALISATION


Amsterdam, January 8, 2003 - 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, on January 7,
2003, the United States court approved the disclosure statement filed on
December 3, 2002 (as amended on December 23, 2002 and amended and supplemented
at the US court hearing) in UPC's Chapter 11 case and UPC may now begin
soliciting acceptances for its proposed recapitalisation.

Creditors and shareholders of UPC as of January 7, 2003 will be entitled to vote
on UPC's US Chapter 11 plan of reorganisation, and creditors of UPC as of
January 7, 2003 will be entitled to submit their claims to the Dutch
Administrator to vote on the plan of composition (Akkoord) in UPC's moratorium
proceeding in the Netherlands. UPC expects to mail the approved disclosure
statement and related ballots on or before January 13, 2003.

Final ballots for voting on the Chapter 11 plan are due by 5:00 PM EST on
February 14, 2003. In UPC's moratorium proceedings in the Dutch court, creditors
of UPC must also submit their claims to the Dutch Administrator by February 14,
2003. The confirmation hearing on the Chapter 11 plan of reorganisation is
scheduled for February 20, 2003. The UPC creditors' meeting on the Dutch Akkoord
is scheduled for February 28, 2003.

UPC is also pleased to announce that the creditors' committee has expressed its
support for the company's recapitalisation and has issued a letter to the
company's unsecured creditors supporting the recapitalisation and recommending
approval of the proposed restructuring.

UPC believes that the approval of the disclosure statement is an important
milestone in the company's recapitalisation process and continues to anticipate
that the moratorium process in the Dutch court and the Chapter 11 process in the
United States 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)

On September 30, 2002, UPC publicly announced that UPC, UGC, the members of the
Bondholder Committee and New UPC, Inc. ("New UPC"), a newly-formed U.S. company
that will become the holding company for UPC, had entered into a restructuring
agreement intended to substantially delever UPC's consolidated balance sheet
through a judicially supervised conversion of UPC's outstanding indebtedness
under its Senior Notes and Senior Discount Notes and the Belmarken Notes into
new common stock of New UPC (the "Recapitalisation"). Under the
Recapitalisation, the holding company, UPC N.V., will become a substantially or
wholly owned subsidiary of New UPC.

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.





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