Tevecap S.A. Announces Launch of Exchange Offer


      SAO PAULO, November 7, 2005 - Tevecap S.A., a major pay television
operator in Brazil and one of the country's primary pay television programming
distributors, today announced that it launched an exchange offer for an
aggregate principal amount of up to $7,008,000 of its unregistered outstanding
12.625% Notes Due 2009 for the same principal amount of its registered 12.625%
Notes Due 2009, which have been registered under the Securities Act of 1933. The
exchange offer will expire at 5:00 p.m., New York City time, on December 6,
2005.

      THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES
IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL TO THE
TERMS AND CONDITIONS OF THE REGISTRATION UNDER THE SECURITIES LAWS OF ANY SUCH
STATE. BEFORE MAKING AN INVESTMENT DECISION, INVESTORS SHOULD CAREFULLY READ THE
ENTIRE REGISTRATION STATEMENT AND PROSPECTUS, INCLUDING THE FINANCIAL STATEMENTS
AND THE NOTES THERETO AND THE DOCUMENTS INCORPORATED BY REFERENCE THEREIN.