NAGRAVISION TO PROVIDE SMART CARD SOLUTION FOR ABS-CBN

Singapore, Cheseaux, Switzerland, March 12th, 2004 - Nagravision announced today that Philippine-based broadcasting network ABS-CBN Global Limited has selected its smart card technology for its European operation.

With worldwide subscribers numbering close to a million and spanning the Asia Pacific, Middle East and North America, ABS-CBN Global is currently in the process of creating satellite networks across Europe to deliver programming services to the many Filipino expatriates in these areas, using Nagravision.

To help achieve this, Nagravision recently integrated its technology in the Europe operations of ABS-CBN Global, a subsidiary of ABS-CBN Broadcasting Corporation, the largest network in the Philippines with a leading 42% market share.

"ABS-CBN has established continued growth, not only in our home market but globally, with ABS-CBN Global's The Filipino Channel Direct! (TFCDirect!), the flagship product of the network's business plan," says Victor Zaragoza, the multi-national company's Technical Services Director. "The key to our continued success has been selecting suppliers that are able to grow with us and provide products that answer our technical requirements for today, yet are scaleable for future needs. In selecting Nagravision smart card solution we were able to secure such a product, and given our previous experience working with together in the Philippines were comfortable with them as a reliable partner, capable of delivering products and services in a timely manner."

Mr. Peter Iannazzo, Vice President, Asia Pacific, Nagravision said "Traditionally in broadcasting we draw on European and North American experience and reputation to build business. It is a wonderful statement about the status of the industry in Asia Pacific that this situation has been reversed with a customer like ABS-CBN selecting Nagravision smart card technology for its European start-up after successfully running it in the Philippines since 2001. We consider this a compliment to our local team, and the quality of products and service that they provide to the region."

The first to create card based decryption, Nagravision has continued to take great bounds ahead of the competition with regards to security and authentication. Smart cards powered by Nagravision provide user identification, authentication and signal decryption, in addition to a secure means of processing transactions and exchanging and storing data. Turn-key software is adapted to meet each operator’s requirements and cards are able to be branded and personalized to an individual subscriber level if required.

About ABS-CBN Global Ltd.
ABS-CBN Global Ltd. was founded as a business entity to reach out to the Filipino market outside the Philippines with its broadcast services. Since its conception as ABS-CBN International in 1992 as a division of ABS-CBN Broadcasting Corporation, the Philippines' leading television/radio network, locally-produced shows can be viewed on FREE TV and cable. The flagship product The Filipino Channel (TFC) that started in cable became part of a growing bundle of DTH package that is TFCDirect! TFC is packaged with ABS-CBN News Channel (ANC), movie channel Cinema One, recently launched leisure, travel and sports channel Pinoycentral TV (PCTV) and the two radio broadcast stations FM DWRR and AM DZMM. The bundle is sold for subscription in North America, Middle East and now in Europe. Cable market was tapped with TFC in the Asia-Pacific region. Its parent company, ABS-CBN Broadcasting Corporation (ABS-CBN) is the largest media broadcasting company in the Philippines. ABS-CBN's television network reaches more than 97% of the country's television-owning households. The company owns and operates 26 television broadcasting stations and 9 affiliate stations. The company also broadcasts radio programming through its 19 radio stations and 10 affiliate radio stations. ABS-CBN produces and broadcasts a wide variety of television programs, among these are telenovelas (long-running drama series), drama anthologies, situation comedies, variety, talk shows and reality-based shows. In the past years, ABS-CBN's core business of television and radio broadcasting has expanded and it now derives part of its revenues from media-related businesses both domestically and internationally through ABS-CBN Global. For more information please visit: www.global.abscbn.com

About Nagravision
Nagravision is the world's leading independent supplier of open conditional access, advanced management tools and integrated solutions for cable, satellite, terrestrial and MMDS, FTTH and xDSL operators. These advanced solutions provide digital TV and content providers with the tools to operate and manage a wide range of pay TV offerings including pay-per-view, on-demand and interactive applications on multiple digital platforms. Nagravision digital and analog conditional access technologies are currently being utilized by more then 120 leading operators worldwide representing over 35 million digital and analog subscribers.

Nagravision is a division of the Switzerland-based Kudelski Group and has offices in the United States, Singapore, Shanghai, India, Brazil, Spain, the UK and Switzerland. The Kudelski Group (SWX "KUD") is part of the Swiss Market Index, which includes the top 26 blue chip companies in Switzerland. Kudelski stock is also listed on the Morgan Stanley Capital International Index.

For more information, please contact:

Ms. Anita Pang
Nagravision Regional Marketing Manager
+65-9668 3161
[email protected]