2. February 2001 February 2001

3. Globo Cabo Overview Operational Results Financial Performance Growth Opportunities Globo Cabo Overview Operational Results Financial Performance Growth Opportunities Topics

5. Why Globo Cabo ? The Best and Highest Concentration of A & B’s HHs in Brazil (33% of A&Bs) Double Digit Growth in Pay TV Business New Value Added Services with Higher Contribution Margins Solid Subscriber Base with Low Churn Balance Sheet in Line with Peers Management Committed to Long Term Value Creation Flexible Capex High Standards of Transparency The Best and Highest Concentration of A & B’s HHs in Brazil (33% of A&Bs) Double Digit Growth in Pay TV Business New Value Added Services with Higher Contribution Margins Solid Subscriber Base with Low Churn Balance Sheet in Line with Peers Management Committed to Long Term Value Creation Flexible Capex High Standards of Transparency

6. NDOD/VOD E-transactions Interactive Services IDTV Open TV Broadcast TV Broadcast TV Infrastructure Analog Digital Value Added Services = Higher Margins Pay TV Pay-per-view Multi Channel Multi Channel VC / Voice Telecom Data Transmission Broadband Content A Leading Provider of Multi Broadband Services

7. Strategy CorporateRetail SOHO Analog Pay TV Interactive Analog Pay TV Digital Pay TV Broadband Virtual Networks Telephony Markets currently penetrated

8. Unique Distribution Platform in Latin America 34,000 + Km. high quality cable network. More than 6MM homes passed Present at 67 cities including the main metropolitan areas Combined company creates a quasi-nationwide platform Franchise areas cover 10 million homes 34,000 + Km. high quality cable network. More than 6MM homes passed Present at 67 cities including the main metropolitan areas Combined company creates a quasi-nationwide platform Franchise areas cover 10 million homes The operations address over 45% of Brazilian GDP North Midwest Northeast Southeast South

9. Market Share Globo Cabo 58% Market Share per Technology Market Share per Technology KU Band 37% KU Band 37% MMDS 10% MMDS 10% C Band 1% C Band 1% Market Share MSOs Market Share MSOs Globo Cabo 45% NetSat 16% NetSat 16% DirecTV 13% DirecTV 13% TVA 10% TVA 10% Independ. 9% Independ. 9% Canbrás 4% Canbrás 4% TVFilme 3% TVFilme 3% Outras 0.4% Outras 0.4% Cable 52%

10. Cable TV Subscribers (1.8MM) Cable TV Subscribers (1.8MM) Market Share Globo Cabo 80% TVA 6% TVA 6% Algar 2% Algar 2% Others 4% Others 4% TVA Sul 2% TVA Sul 2% Canbrás 6% Canbrás 6%

11. Exclusive Brazilian programming Exclusive Content Access to prime sport events - Soccer: World Cup & Regional Soccer - Formula One - Olympic Games - World Championship Volleyball - Soccer: World Cup & Regional Soccer - Formula One - Olympic Games - World Championship Volleyball

12. Products Pay TV - 5 packages Vírtua –Residential - 7 Speed Options –SOHO - 5 Speed Options – Communities Corporate Segment (Vicom) –Satellite Data Transmission –Leased Lines –Virtual Private Network Pay TV - 5 packages Vírtua –Residential - 7 Speed Options –SOHO - 5 Speed Options – Communities Corporate Segment (Vicom) –Satellite Data Transmission –Leased Lines –Virtual Private Network For further details, please see attached files

13. Total Common Shares Common Shares Preferred Shares Preferred Shares Distel Holding S.A. Bradesplan Part. Microsoft RBS BNDESPar Globopar Others Converted Debetures Total # of shares Distel Holding S.A. Bradesplan Part. Microsoft RBS BNDESPar Globopar Others Converted Debetures Total # of shares 56.7% 14.0% 8.7% 9.2% 8.0% 0.0% 3.5% 0.0% 56.7% 14.0% 8.7% 9.2% 8.0% 0.0% 3.5% 0.0% Shares Complementary Shareholders 30.8% 0.0% 6.8% 14.8% 2.6% 8.1% 36.2% 2.1% 30.8% 0.0% 6.8% 14.8% 2.6% 8.1% 36.2% 2.1% 42.1% 6.1% 7.5% 12.3% 4.9% 4.5% 21.5% 1.2% 42.1% 6.1% 7.5% 12.3% 4.9% 4.5% 21.5% 1.2% 1,211,891,443 1,579,538,407 2,791,429, 850

15. Subscriber Base: Dec.97 Additions: Jan.98 - Dec.99 Disconnections: Jan.98 - Dec.99 Subscriber Base: Dec.99 1,132 390 509 1,013 * excluding Net Sul Subscriber Evolution X Churn (in Thousand ) *

16. Globo Cabo Subscribers Excluding Net Sul and Unicabo Annualized Organic Growth Globo Cabo Subscribers Annualized Overall Growth Subscribers Growth Including Net Sul and Unicabo 1Q00 2Q00 3Q00 4Q00 949 965 1,008 1,045 5.7% 7.1% 19.1% 15.1% 1,348 1,416 1,468 1,505 4.9% 21.7% 15.5% 10.4%

17. Subscribers Mix and ARPU 29.2 33.533.9 34.8

18. ARPU (Total)* Globo Cabo 41 Globo Cabo + Net Sul Globo Cabo + Net Sul 41 Latin America 46 USA 31 UK 11 28 Germany ARPU (Monthly Fee) ARPU (Monthly Fee) 35 30 25 45 10 ARPU - Comparison 36 Source: Company reports (US GAAP) 3Q00 in US$ * Includes Hook-up fee, PPV and other revenues

19. Churn Rate(Quarterly annualized) Consolidated Globocabo

20. Annual Churn Rate (Pro Forma) 199819992000 ConsolidatedGlobo Cabo (excl.Unicabo and Net Sul)

21. Broadband Strategy Over 2.4 MM Homes adequated by Dec’00 A&B’s HPs in major cities Segmenting into Residential, SOHO and Corporate Differentiate pricing according to bandwith usage and speed Strengthen commercial partnerships with major portals Build intranet Continue developing community concept (eg. Fleury, Bandeirantes School)

22. Two Way Homes Passed (in thousands) Vírtua - Evolution 280 1Q00 568 2Q00 1,113 3Q00 1,068 1Q00 8,929 2Q00 14,792 3Q00 Subscribers 2,390 4Q00 28,136

23. Virtua: Developing Communities Bandeirantes School McDonald´s Xerox Fleury Laboratory Kodak BankBoston

24. Broadband Experience (Broadband Subs/Total Subs Base) Broadband Experience (Broadband Subs/Total Subs Base) Source: UBS Warburg

26. 3Q00 9M99 Net Revenue 153.8 374.7 EBITDA 37.4 101.0 EBITDA margin % 24.3% 27.0% Depreciation & Amortization Depreciation & Amortization (61.0) ( 177.4) Net Interest Expenses Net Interest Expenses (51.9) ( 322.9) Income (loss) ( 72.5) (392.5) 3Q99 123.1 34.9 28.4% ( 58.1) (84.3) (104.1) 9M00 430.4 93.6 21.7% ( 153.7) ( 93.1) ( 153.1) Key Indicators - US GAAP Consol. (US$ million)

27. 3Q99 2Q00 Net Revenue 100% Direct Operating 48.7% 49.5% Programmers and royalties...... 28.7% 30.6% Network expenses............. 5.2% 4.4% Customers relations............ 2.3% 2.6% Payroll and benefits............ 6.1% 6.5% Other costs (third parties)....... 6.4% 5.4% Selling/ Administrative 22,9% 27.7% Selling....................... 4.3% 7.6% General & Administrative....... 16.6% 16.0% Bad debt expense.............. 0.8% 1.6% Other........................ 1.2% 2.5% EBITDA 28.4% 22.8% EBITDA Composition US GAAP 3Q00 100% 48.7% 28.6% 4.9% 2.6% 6.4% 6.2% 27.0% 8.7% 17.0% 1.8% -0.5% 24.3%

28. 3Q99 3Q00 Short Term Debt 437.1 188.9 Commercial loans..................... 178 86.6 Current portion of long-term debt........ 258.9 102.4 Long Term Debt 337 597.5 Total Debt 764.1 786.4 Net Debt 774.1 658.3 100.4 37.8 (258.9) (102.4) Globo Cabo Debt Structure US GAAP Senior Guaranteed Notes - 2004......... 185 Net Sul Notes......................... BNDES (R$-denom.)................... 80 91.9 80 84.8 Convertible Debentures 2006........... 0 0 212.1 Others.............................. Current portion of LT debt.............. Cash................................ 128.1 10.1 Consol. (US$ million)

29. Net Debt to Equity Value

30. Debt/ Subs. Debt/ Subs. Globo Cabo 2,138 Cablevision (NY) 1,923 3,403 Comcast (Center/East Coast) 703 3,342 Cox (West Coast) 1,283 3,842 3,904 Debt/ EBITDA Debt/ EBITDA 1,540 5.9 7.8 6.3 Debt - Comparable Table Europe Industry Argentine Industry FV/ Subs. FV/ Subs. 8.4 5.3 Source: companies´annual reports (US GAAP) 535 2,372 3Q00 - in US$

31. Pro-forma 2000 2001 2002 2003 2004 2005 2006 74 10 64 7 7 185 84 Notes Convertible debentures * Includes Vicom and Net Sul 48 40 FRNs-Net Sul Total debt: US$ 786.4 MM Amortization Schedule* 74 64 85 55 39 32 Trade Financing

32. Capital Expenditures Breakdown * Non-audited numbers; Does not include Net Sul

33. Minimum Cash levels: US$ 50MM in 2001-2003 Stretch Short term obligations Fifty percent of debt obligations in local currency ·Debt/Cash Flow  5.0 and EBTIDA/Int Expenses  2 in 2003 Hedge Short term obligations Keep EVA positive growth trend Work to minimize potential equity overhang Improve transparency levels Minimum Cash levels: US$ 50MM in 2001-2003 Stretch Short term obligations Fifty percent of debt obligations in local currency ·Debt/Cash Flow  5.0 and EBTIDA/Int Expenses  2 in 2003 Hedge Short term obligations Keep EVA positive growth trend Work to minimize potential equity overhang Improve transparency levels Financial Objectives

35. Number of subscribers (in millions) 4.710 4.217 3.710 3.378 6.480 5.498 2000 2001 2002 2003 2004 2005 Satellite MMDS Cable TV Satellite MMDS Cable TV Projected Subscriber Cable TV Growth Source: Pay TV Survey nº 39 2017 2164 3680 3115 2652 2409 1999 Total: 2.973 Cable TV: 1.754 7.3% 11.3% 10.1% 17.5% 18.1% (1999-2005 annual CAGR: 13.2%) (Based on a GDP CAGR = 2%)

36. Total franchise covers 10 million homes A B C Others Total A B C Others Total Segments 967 2,262 1,833 1,081 6,143 967 2,262 1,833 1,081 6,143 HPs (000) HPs (000) 15.8 36.8 29.8 17.6 100 15.8 36.8 29.8 17.6 100 % % 625 677 138 28 1,468 625 677 138 28 1,468 Subs. (000) Subs. (000) 42.6 46.1 9.4 1.9 100 42.6 46.1 9.4 1.9 100 65 30 8 3 23.9 65 30 8 3 23.9 Penetr. (%) Penetr. (%) 755 1,282 323 40 2,400 755 1,282 323 40 2,400 Subs. (000) Subs. (000) 31.4 53.4 13.5 1.7 100 31.4 53.4 13.5 1.7 100 78 57 18 4 39.1 78 57 18 4 39.1 % % Penetr %. Penetr %. % % Sep/2000 Target Hypothetical Growth Targets

37. Multiproducts Broadband Penetration Targets Multiproducts ARPU Options (US$) Multiproducts ARPU Options (US$) Pay TV Standard Package Pay TV Master Package 87 71 42 25 14 All Multiproducts Package All Multiproducts Package excluding Voice IP / Others Pay TV Digital Package 65% 20% 15% - - 35% 65% - - - - - - - 100% 2000 32 0 32 0 ARPU (US$) Pay TV Digital BroadBand Related Voice IP/Others Pay TV Digital BroadBand Related Voice IP/Others 42 29 16 42 29 16 Target ARPU(US$) Pay TV Analog BroadBand Related Others Pay TV Analog BroadBand Related Others Segment A Segment C Segment B

38. Pay TV residential Broadband Related Corporate business Other (including telephony) Pay TV residential Broadband Related Corporate business Other (including telephony) Target Dec 2000 Target Dec 2000 Target 94% 1% 5% 58% 29% 6% 7% Future Revenue Mix

39. Interactivity: New Feature Being Introduced By Q2/01 Globosat developing exclusive, interactive contents Globosat developing exclusive, interactive contents - Phase I - analogic - Phase II - digital - Phase I - analogic - Phase II - digital 50% of decoders (GI, Scientific Atlantic) already allow for interactivity 50% of decoders (GI, Scientific Atlantic) already allow for interactivity - Olympic Games / Free Jazz Festival / Davis Cup - Ability to choose different programs - E-commerce (eg. buy products from soccer team) - Olympic Games / Free Jazz Festival / Davis Cup - Ability to choose different programs - E-commerce (eg. buy products from soccer team)

40. Based on achievement of operational and financial goals - EBITDA- # of new services subs - # of Subs- Customer satisfaction Based on achievement of operational and financial goals - EBITDA- # of new services subs - # of Subs- Customer satisfaction Pacto - Annual Bonus Program Mngt Commitment/Compensation Bravo - Long Term Incentive Plan Based on stock value appreciation - “phantom stocks”- 3 year vesting period Pacto/Bravo represent up to 50% of total compensation

41. www.globocabo.com Leonardo Pereira Augusto Rocha Renato Pinto Coelho leopereira@globocabo.com.br arocha@globocabo.com.br rpcoelho@globocabo.com.br Contacts - Additional Informations

42. Some information in this presentation discuss our indicative targets for the breakdown between our various lines of business, type and number of subscribers and penetration rates. This information is provided only to explain how we wish to expand our business, and we are making no projections as to our ability to meet these targets. Some information in this presentation discuss our indicative targets for the breakdown between our various lines of business, type and number of subscribers and penetration rates. This information is provided only to explain how we wish to expand our business, and we are making no projections as to our ability to meet these targets. Forward-Looking Statements These targets constitute forward looking statements. Many factors could cause our actual results to differ materially from these targets, including economic and political factors in Brazil, the development of competing technologies, our access to the capital needed to meet these targets and the emergence of rigorous competition in our key markets. These targets constitute forward looking statements. Many factors could cause our actual results to differ materially from these targets, including economic and political factors in Brazil, the development of competing technologies, our access to the capital needed to meet these targets and the emergence of rigorous competition in our key markets.

44. Attachments

45. Products Pay TV Pay per view - 3 channels- shows, football plays, fights and movies. Channels “a la carte”- SexyHot, Playboy and PSN Package Channels Installation* Monthly fee Advanced 65 R$ 150,00 R$ 76,90 Plus 50 R$ 76,89 Master 45 R$ 100,00 R$ 56,90 Standard 30 R$ 40,00 R$ 28,90 Vírtua TV 20 No fees R$ 12,33 * Prices for automated bill paying option Not marketed

46. Speed Monthly fee 128 Kbps R$ 31 192 Kbps R$ 46 320 Kbps R$ 108 384 Kbps R$ 159 448 Kbps R$ 221 512 Kbps R$ 293 Products Vírtua - Residential 256 Kbps R$ 70

47. Products Vírtua - SOHO Virtua Professional Virtua Enterprise SpeedTrafficMonthly fee 320 Kbps5 GBR$ 240 384 Kbps10 GB R$ 399 448 Kbps15 GBR$ 499 512 Kbps25 GBR$ 599 SpeedTrafficMonthly fee 64 to 256 Kbps 3 GBR$ 145 Installation: R$ 279 Equipment: R$ 299 (loyalty promotion) or R$ 599 cash

48. Corporate Division (Vicom) Data Transmission Satellite Digital Radio Urban and Interurban Fiber Optic Rings IP Cable Modem Networks Technical Support and Network Management Consulting in Telecommunications Products