TV Azteca Shareholders Will Receive One Share of Grupo Iusacell for Every 97 CPOs of the Company

MEXICO CITY, March 29 /PRNewswire-FirstCall/ -- TV Azteca, S.A. de C.V. (BMV: TVAZTCA) (Latibex: XTZA), one of the two largest producers of Spanish- language television programming in the world, announced today that the company shareholders will receive approximately one share of Grupo Iusacell -- wireless telecommunications service provider in Mexico with nationwide coverage -- for every 97 CPOs of TV Azteca.

This represents a yield close to 20% based on the CPO closing price as of March 28. The closing market price of the stock of Grupo Iusacell was Ps.180, which considering the delivery ratio of one Iusacell share per every 97 CPOs of the company, means that TV Azteca shareholders will receive the equivalent of Ps.1.86 for each CPO, or 20% on the CPO closing price of Ps.9.51 as of the same date.

Such yield, together with aggregate cash distributions to TV Azteca shareholders of US$495 million, made since June 2003 -- as part of the company's cash usage plan -- which represent a 19% yield on the company's market cap as of yesterday, equals an aggregate yield of 39% for CPO holders.

Grupo Iusacell announced today that it agreed to merge with Unefon Holdings, the holding company owner of the capital stock of Unefon -- wireless telephony operator focused on Mexico's mass market. During the integration process, Grupo Iusacell remains as the merging company and Unefon Holdings will be merged.

Through the merger, Unefon Holdings shareholders will benefit from liquidity at the Mexican stock market, derived from their ownership in Grupo Iusacell.

Accordingly, once the shares representing the equity of Grupo Iusacell are distributed -- which is expected to take place at the end of the second quarter of 2007 -- TV Azteca shareholders will receive shares of Grupo Iusacell as a result of their investment in Unefon Holdings.

The public float will represent at least 23% of the outstanding shares of the merged entity, with Grupo Salinas maintaining the rest of the capital stock. The percentage of shares in public hands will generate important liquidity on Grupo Iusacell's stock.

As a result of this merger, Grupo Iusacell will reinforce its competitive position in the wireless telephony market. The new company will commence with more than 3.4 million subscribers -- equivalent to approximately 7% of the wireless telecommunications market in Mexico -- annual revenues of over Ps.11,000 million and EBITDA of Ps.2,000 million. The company has national coverage, and integrates the only two providers of wireless telecommunications services in the country with CDMA technology, which generates the highest spectrum efficiency.

The integration of these companies will allow for important synergies that translate in more and better services. Grupo Iusacell will consolidate its leadership in data transmission through its Mobile Broadband (BAM, according to its Spanish acronym), the only vehicle for wireless Internet connectivity in Mexico that makes complete mobility compatible with high speed services, thanks to the CDMA EVDO technology. The wide range of multimedia services that Grupo Iusacell offers will increase the quality of wireless communications in the country, and the efficiency of the sectors connecting with it, benefiting millions of Mexicans.

Gustavo Guzman will remain as the CEO of Grupo Iusacell.

Unefon Holdings shareholders will soon meet to resolve on the merger's agreement. Investors will be able to find additional information on the merger process of Grupo Iusacell and Unefon Holdings at http://www.bmv.com.mx/

Company Profile

TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating two national television networks in Mexico, Azteca 13 and Azteca 7, through more than 300 owned and operated stations across the country. TV Azteca affiliates include Azteca America Network, a new broadcast television network focused on the rapidly growing US Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.

TV Azteca is a company of Grupo Salinas ( http://www.gruposalinas.com/ ), a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas, Grupo Salinas operates as a management development and decision forum for the top leaders of member companies.

Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Other risks that may affect TV Azteca and its subsidiaries are identified in documents sent to securities authorities.

  Investor Relations:
  Bruno Rangel                    Marcia San Roman
  + 52 (55) 1720 9167             + 52 (55) 1720 0041
  jrangelk@tvazteca.com.mx        msromang@tvazteca.com.mx

  Press Relations:
  Tristan Canales                 Daniel McCosh
  + 52 (55) 1720 1441             + 52 (55) 1720 0059
  tcanales@gruposalinas.com.mx    dmccosh@tvazteca.com.mx