<Page>
EXHIBIT 99.1
ATTRIBUTED FINANCIAL INFORMATION FOR TRACKING STOCK GROUPS
Our Liberty Interactive common stock is intended to reflect the separate
performance of our Interactive Group which is comprised of our businesses
engaged in video and on-line commerce, including our subsidiaries, QVC, Inc.,
Provide Commerce, Inc. and BuySeasons, Inc. and our interests in
IAC/InterActiveCorp and Expedia, Inc. Our Liberty Capital common stock is
intended to reflect the separate performance of our Capital Group which is
comprised of all of our assets and businesses not attributed to the Interactive
Group.
The following tables present our assets, liabilities, revenue, expenses and
cash flows as of and for the three months ended March 31, 2007 and 2006. The
tables further present our assets, liabilities, revenue, expenses and cash flows
that are attributed to the Interactive Group and the Capital Group,
respectively. The financial information should be read in conjunction with our
unaudited financial statements for the three months ended March 31, 2007
included in this Quarterly Report on Form 10-Q. The attributed financial
information presented in the tables has been prepared assuming the restructuring
had been completed as of January 1, 2006.
Notwithstanding the following attribution of assets, liabilities, revenue,
expenses and cash flows to the Interactive Group and the Capital Group, the
restructuring does not affect the ownership or the respective legal title to our
assets or responsibility for our liabilities. We and our subsidiaries each
continue to be responsible for our respective liabilities. Holders of Liberty
Interactive common stock and Liberty Capital common stock are holders of our
common stock and continue to be subject to risks associated with an investment
in our company and all of our businesses, assets and liabilities. The issuance
of Liberty Interactive common stock and Liberty Capital common stock does not
affect the rights of our creditors or creditors of our subsidiaries.
1
<Page>
SUMMARY ATTRIBUTED FINANCIAL DATA
INTERACTIVE GROUP
<Table>
<Caption>
MARCH 31, DECEMBER 31,
2007 2006
--------- ------------
AMOUNTS IN MILLIONS
SUMMARY BALANCE SHEET DATA:
Current assets.............................................. $ 2,805 2,984
Cost investments............................................ $ 2,610 2,572
Equity investments.......................................... $ 1,372 1,358
Total assets................................................ $19,647 19,820
Long-term debt, including current portion................... $ 6,334 6,383
Deferred income tax liabilities............................. $ 3,068 3,057
Attributed net assets....................................... $ 8,739 8,561
</Table>
<Table>
<Caption>
THREE MONTHS ENDED
MARCH 31,
-------------------
2007 2006
-------- --------
AMOUNTS IN MILLIONS
SUMMARY OPERATIONS DATA:
Revenue..................................................... $ 1,771 1,608
Cost of goods sold.......................................... (1,110) (1,000)
Operating expenses.......................................... (144) (132)
Selling, general and administrative expenses(1)............. (148) (138)
Depreciation and amortization............................... (125) (120)
------- ------
Operating income........................................ 244 218
Interest expense............................................ (114) (93)
Other income, net........................................... 28 34
Income tax expense.......................................... (60) (76)
Minority interests in earnings of subsidiaries.............. (7) (8)
------- ------
Earnings before cumulative effect of accounting change.... 91 75
Cumulative effect of accounting change, net of taxes........ -- (87)
------- ------
Net earnings (loss)..................................... $ 91 (12)
======= ======
</Table>
- ------------------------
(1) Includes stock-based compensation of $13 million and $27 million for the
three months ended March 31, 2007 and 2006, respectively.
2
<Page>
SUMMARY ATTRIBUTED FINANCIAL DATA
CAPITAL GROUP
<Table>
<Caption>
MARCH 31, DECEMBER 31,
2007 2006
--------- ------------
AMOUNTS IN MILLIONS
SUMMARY BALANCE SHEET DATA:
Current assets.............................................. $ 3,593 3,776
Cost investments............................................ $19,627 19,050
Equity investments.......................................... $ 500 484
Total assets................................................ $28,127 27,849
Long-term debt, including current portion................... $ 4,170 2,640
Deferred income tax liabilities............................. $ 6,730 6,604
Attributed net assets....................................... $13,756 13,072
</Table>
<Table>
<Caption>
THREE MONTHS ENDED
MARCH 31,
-------------------
2007 2006
-------- --------
AMOUNTS IN MILLIONS
SUMMARY OPERATIONS DATA:
Revenue..................................................... $ 352 293
Operating expenses.......................................... (240) (213)
Selling, general and administrative expenses(1)............. (81) (53)
Depreciation and amortization............................... (26) (21)
----- ----
Operating income........................................ 5 6
Interest expense............................................ (36) (55)
Realized and unrealized gains (losses) on derivative
instruments, net.......................................... 342 (213)
Gain on dispositions, net................................... 6 24
Other income, net........................................... 58 54
Income tax benefit (expense)................................ (142) 176
Minority interests in losses of subsidiaries................ 3 2
----- ----
Earnings (loss) from continuing operations................ 236 (6)
Earnings (loss) from discontinued operations, net of
taxes..................................................... 42 (6)
Cumulative effect of accounting change, net of taxes........ -- (2)
----- ----
Net earnings (loss)..................................... $ 278 (14)
===== ====
</Table>
- ------------------------
(1) Includes stock-based compensation of $9 million and $3 million for the three
months ended March 31, 2007 and 2006, respectively.
3
<Page>
BALANCE SHEET INFORMATION
MARCH 31, 2007
(UNAUDITED)
<Table>
<Caption>
ATTRIBUTED (NOTE 1)
----------------------
INTERACTIVE CAPITAL CONSOLIDATED
GROUP GROUP ELIMINATIONS LIBERTY
----------- -------- ------------ ------------
AMOUNTS IN MILLIONS
ASSETS
Current assets:
Cash and cash equivalents........................ $ 885 2,085 -- 2,970
Trade and other receivables, net................. 809 369 -- 1,178
Inventory, net................................... 885 -- -- 885
Program rights................................... -- 517 -- 517
Financial instruments (note 2)................... 9 284 -- 293
Current deferred tax assets...................... 170 -- (151) 19
Other current assets............................. 47 55 -- 102
Assets of discontinued operations................ -- 283 -- 283
------- ------ ---- ------
Total current assets........................... 2,805 3,593 (151) 6,247
------- ------ ---- ------
Investments in available-for-sale securities and
other cost investments........................... 2,610 19,627 -- 22,237
Long-term financial instruments (note 2)........... -- 1,176 -- 1,176
Investments in affiliates, accounted for using the
equity method.................................... 1,372 500 -- 1,872
Property and equipment, net........................ 964 230 -- 1,194
Goodwill........................................... 5,729 1,846 -- 7,575
Trademarks......................................... 2,450 21 -- 2,471
Intangible assets subject to amortization, net..... 3,674 136 -- 3,810
Other assets, at cost, net of accumulated
amortization..................................... 43 998 -- 1,041
------- ------ ---- ------
Total assets................................... $19,647 28,127 (151) 47,623
======= ====== ==== ======
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable................................. $ 447 28 -- 475
Accrued interest................................. 64 26 -- 90
Other accrued liabilities........................ 552 361 -- 913
Intergroup payable (receivable).................. 56 (56) -- --
Financial instruments (note 2)................... -- 1,322 -- 1,322
Current portion of debt (note 3)................. 14 165 -- 179
Current deferred tax liabilities................. -- 151 (151) --
Other current liabilities........................ 49 29 -- 78
Liabilities of discontinued operations........... -- 43 -- 43
------- ------ ---- ------
Total current liabilities...................... 1,182 2,069 (151) 3,100
------- ------ ---- ------
Long-term debt (note 3)............................ 6,320 4,005 -- 10,325
Long-term financial instruments (note 2)........... 17 367 -- 384
Deferred income tax liabilities (note 5)........... 3,068 6,730 -- 9,798
Other liabilities.................................. 243 1,139 -- 1,382
------- ------ ---- ------
Total liabilities.............................. 10,830 14,310 (151) 24,989
Minority interests in equity of subsidiaries....... 78 61 -- 139
Equity/Attributed net assets....................... 8,739 13,756 -- 22,495
------- ------ ---- ------
Total liabilities and equity................... $19,647 28,127 (151) 47,623
======= ====== ==== ======
</Table>
4
<Page>
STATEMENT OF OPERATIONS AND COMPREHENSIVE EARNINGS INFORMATION
THREE MONTHS ENDED MARCH 31, 2007
(UNAUDITED)
<Table>
<Caption>
ATTRIBUTED (NOTE 1)
----------------------
INTERACTIVE CAPITAL CONSOLIDATED
GROUP GROUP LIBERTY
----------- -------- ------------
AMOUNTS IN MILLIONS
Revenue:
Net retail sales.......................................... $1,771 -- 1,771
Communications and programming services................... -- 352 352
------ ---- -----
1,771 352 2,123
------ ---- -----
Operating costs and expenses:
Cost of sales............................................. 1,110 -- 1,110
Operating................................................. 144 240 384
Selling, general and administrative (including stock-based
compensation of $13 million and $9 million for
Interactive Group and Capital Group, respectively
(notes 1 and 3)......................................... 148 81 229
Depreciation and amortization............................. 125 26 151
------ ---- -----
1,527 347 1,874
------ ---- -----
Operating income........................................ 244 5 249
Other income (expense):
Interest expense.......................................... (114) (36) (150)
Dividend and interest income.............................. 11 64 75
Share of earnings (losses) of affiliates, net............. 15 (6) 9
Realized and unrealized gains on financial instruments,
net..................................................... 2 342 344
Gains on dispositions, net................................ -- 6 6
------ ---- -----
(86) 370 284
------ ---- -----
Earnings from continuing operations before income taxes
and minority interests................................ 158 375 533
Income tax expense (note 5)................................. (60) (142) (202)
Minority interests in losses (earnings) of subsidiaries..... (7) 3 (4)
------ ---- -----
Earnings from continuing operations..................... 91 236 327
Earnings from discontinued operations, net of taxes......... -- 42 42
------ ---- -----
Net earnings............................................ $ 91 278 369
------ ---- -----
Other comprehensive earnings (loss), net of taxes:
Foreign currency translation adjustments.................. 12 (1) 11
Unrealized holding gains arising during the period........ 17 258 275
Recognition of previously unrealized gains on
available-for-sale securities, net...................... -- (4) (4)
------ ---- -----
Other comprehensive earnings.......................... 29 253 282
------ ---- -----
Comprehensive earnings.............................. $ 120 531 651
====== ==== =====
</Table>
5
<Page>
STATEMENT OF OPERATIONS AND COMPREHENSIVE EARNINGS INFORMATION
THREE MONTHS ENDED MARCH 31, 2006
(UNAUDITED)
<Table>
<Caption>
ATTRIBUTED (NOTE 1)
----------------------
INTERACTIVE CAPITAL CONSOLIDATED
GROUP GROUP LIBERTY
----------- -------- ------------
AMOUNTS IN MILLIONS
Revenue:
Net retail sales.......................................... $1,608 -- 1,608
Communications and programming services................... -- 293 293
------ ---- -----
1,608 293 1,901
------ ---- -----
Operating costs and expenses:
Cost of sales............................................. 1,000 -- 1,000
Operating................................................. 132 213 345
Selling, general and administrative (including stock-based
compensation of $27 million and $3 million for
Interactive Group and Capital Group, respectively)
(notes 1 and 3)......................................... 138 53 191
Depreciation and amortization............................. 120 21 141
------ ---- -----
1,390 287 1,677
------ ---- -----
Operating income........................................ 218 6 224
Other income (expense):
Interest expense.......................................... (93) (55) (148)
Dividend and interest income.............................. 9 47 56
Share of earnings of affiliates, net...................... 4 4 8
Realized and unrealized gains (losses) on financial
instruments, net........................................ 20 (213) (193)
Gains on dispositions of assets, net...................... -- 24 24
Other, net................................................ 1 3 4
------ ---- -----
(59) (190) (249)
------ ---- -----
Earnings (loss) from continuing operations before income
taxes and minority interests.......................... 159 (184) (25)
Income tax benefit (expense) (note 5)....................... (76) 176 100
Minority interests in losses (earnings) of subsidiaries..... (8) 2 (6)
------ ---- -----
Earnings (loss) from continuing operations.............. 75 (6) 69
Loss from discontinued operations, net of taxes............. -- (6) (6)
Cumulative effect of accounting change, net of taxes........ (87) (2) (89)
------ ---- -----
Net loss.................................................. $ (12) (14) (26)
------ ---- -----
Other comprehensive earnings (loss), net of taxes:
Foreign currency translation adjustments.................. 20 -- 20
Unrealized holding gains arising during the period........ 60 401 461
Recognition of previously unrealized gains on
available-for-sale securities, net...................... -- (15) (15)
------ ---- -----
Other comprehensive earnings.......................... 80 386 466
------ ---- -----
Comprehensive earnings.............................. $ 68 372 440
====== ==== =====
</Table>
6
<Page>
STATEMENT OF CASH FLOWS INFORMATION
THREE MONTHS ENDED MARCH 31, 2007
(UNAUDITED)
<Table>
<Caption>
ATTRIBUTED (NOTE 1)
----------------------
INTERACTIVE CAPITAL CONSOLIDATED
GROUP GROUP LIBERTY
----------- -------- ------------
AMOUNTS IN MILLIONS
Cash flows from operating activities:
Net earnings.............................................. $ 91 278 369
Adjustments to reconcile net earnings to net cash provided
by operating activities:
Earnings from discontinued operations................... -- (42) (42)
Depreciation and amortization........................... 125 26 151
Stock-based compensation................................ 13 9 22
Payments of stock-based compensation.................... (18) (2) (20)
Noncash interest expense................................ 1 2 3
Share of losses (earnings) of affiliates, net........... (15) 6 (9)
Realized and unrealized gains on financial instruments,
net................................................... (2) (342) (344)
Gains on disposition of assets, net..................... -- (6) (6)
Minority interests in earnings (losses) of
subsidiaries.......................................... 7 (3) 4
Intergroup tax payments................................. (68) 68 --
Other intergroup cash transfers, net.................... 4 (4) --
Deferred income tax expense (benefit)................... (24) 188 164
Other noncash charges (credits), net.................... -- 4 4
Changes in operating assets and liabilities, net of the
effects of acquisitions:
Current assets........................................ 120 (105) 15
Payables and other current liabilities................ (121) 16 (105)
----- ----- -----
Net cash provided by operating activities........... 113 93 206
----- ----- -----
Cash flows from investing activities:
Cash proceeds from dispositions........................... -- 121 121
Net proceeds from settlement of derivatives............... -- 76 76
Cash paid for acquisitions, net of cash acquired.......... -- (6) (6)
Capital expended for property and equipment............... (82) (5) (87)
Net sales (purchases) of short term investments........... -- (172) (172)
Investments in and loans to cost and equity investees..... -- (39) (39)
Other investing activities, net........................... -- 13 13
----- ----- -----
Net cash used by investing activities............... (82) (12) (94)
----- ----- -----
Cash flows from financing activities:
Borrowings of debt........................................ 129 2 131
Repayments of debt........................................ (178) (151) (329)
Repurchases of Liberty common stock....................... (34) -- (34)
Other financing activities, net........................... (11) (8) (19)
----- ----- -----
Net cash used by financing activities............... (94) (157) (251)
----- ----- -----
Effect of foreign currency rates on cash.................... 2 -- 2
----- ----- -----
Net cash provided to discontinued operations:
Cash provided by operating activities..................... -- 10 10
Cash used by investing activities......................... -- (9) (9)
Cash provided by financing activities..................... -- -- --
Change in available cash held by discontinued
operations.............................................. -- (1) (1)
----- ----- -----
Net cash provided to discontinued operations........ -- -- --
----- ----- -----
Net decrease in cash and cash equivalents........... (61) (76) (137)
Cash and cash equivalents at beginning of period.... 946 2,161 3,107
----- ----- -----
Cash and cash equivalents at end period............. $ 885 2,085 2,970
===== ===== =====
</Table>
7
<Page>
STATEMENT OF CASH FLOWS INFORMATION
THREE MONTHS ENDED MARCH 31, 2006
(UNAUDITED)
<Table>
<Caption>
ATTRIBUTED (NOTE 1)
----------------------
INTERACTIVE CAPITAL CONSOLIDATED
GROUP GROUP LIBERTY
----------- -------- ------------
AMOUNTS IN MILLIONS
Cash flows from operating activities:
Net loss.................................................. $ (12) (14) (26)
Adjustments to reconcile net loss to net cash provided
(used) by operating activities:
Loss from discontinued operations....................... -- 6 6
Cumulative effect of accounting change.................. 87 2 89
Depreciation and amortization........................... 120 21 141
Stock compensation...................................... 27 3 30
Noncash interest expense................................ 1 25 26
Share of earnings of affiliates, net.................... (4) (4) (8)
Realized and unrealized losses (gains) on financial
instruments, net...................................... (20) 213 193
Gains on disposition of assets, net..................... -- (24) (24)
Minority interests in earnings (losses) of
subsidiaries.......................................... 8 (2) 6
Deferred income tax benefit............................. (34) (114) (148)
Other noncash charges (credits), net.................... (2) 13 11
Changes in operating assets and liabilities, net of the
effect of acquisitions and dispositions:
Current assets........................................ 123 (121) 2
Payables and other current liabilities................ (161) (89) (250)
----- ---- -----
Net cash provided (used) by operating activities.... 133 (85) 48
----- ---- -----
Cash flows from investing activities:
Cash proceeds from dispositions........................... -- 137 137
Net proceeds (payments) from settlement of derivatives.... (5) 189 184
Cash paid for acquisitions, net of cash acquired.......... (431) (166) (597)
Capital expended for property and equipment............... (42) (3) (45)
Net sales of short term investments....................... 23 103 126
Repurchases of subsidiary common stock.................... (26) (3) (29)
Other investing activities, net........................... -- (117) (117)
----- ---- -----
Net cash provided (used) by investing activities.... (481) 140 (341)
----- ---- -----
Cash flows from financing activities:
Repayments of debt........................................ (2) -- (2)
Intergroup cash transfers, net............................ 274 (274) --
Other financing activities, net........................... 20 8 28
----- ---- -----
Net cash provided (used) by financing activities.... 292 (266) 26
----- ---- -----
Effect of foreign currency rates on cash.................... 3 -- 3
----- ---- -----
Net cash provided to discontinued operations:
Cash provided by operating activities..................... -- 15 15
Cash used by investing activities......................... -- (14) (14)
Cash provided by financing activities..................... -- (3) (3)
Change in available cash held by discontinued
operations.............................................. -- (3) (3)
----- ---- -----
Net cash provided to discontinued operations........ -- (5) (5)
----- ---- -----
Net decrease in cash and cash equivalents........... (53) (216) (269)
Cash and cash equivalents at beginning of period.... 945 951 1,896
----- ---- -----
Cash and cash equivalents at end of period.......... $ 892 735 1,627
===== ==== =====
</Table>
8
<Page>
NOTES TO ATTRIBUTED FINANCIAL INFORMATION
(UNAUDITED)
(1) The assets attributed to our Interactive Group as of March 31, 2007 include
our consolidated subsidiaries QVC, Inc., Provide Commerce, Inc. and
BuySeasons, Inc., and our interests in IAC/ InterActiveCorp, GSI
Commerce, Inc. and Expedia. Accordingly, the accompanying attributed
financial information for the Interactive Group includes our investments in
IAC/InterActiveCorp, Expedia and GSI, as well as the assets, liabilities,
revenue, expenses and cash flows of QVC, Provide and BuySeasons. We have
also attributed certain of our debt obligations (and related interest
expense) to the Interactive Group based upon a number of factors, including
the cash flow available to the Interactive Group and its ability to pay debt
service and our assessment of the optimal capitalization for the Interactive
Group. The specific debt obligations attributed to each of the Interactive
Group and the Capital Group are described in note 3 below. In addition, we
have allocated certain corporate general and administrative expenses between
the Interactive Group and the Capital Group as described in note 4 below.
The Interactive Group focuses on video and on-line commerce businesses.
Accordingly, we expect that businesses that we may acquire in the future
that we believe are complementary to this strategy will also be attributed
to the Interactive Group.
The Capital Group consists of all of our businesses not included in the
Interactive Group, including our consolidated subsidiaries Starz
Entertainment, LLC, Starz Media, LLC, FUN Technologies, Inc. and
TruePosition, Inc. and our cost and equity investments in GSN, LLC, WildBlue
Communications, Inc. and others. Accordingly, the accompanying attributed
financial information for the Capital Group includes these investments and
the assets, liabilities, revenue, expenses and cash flows of these
consolidated subsidiaries. In addition, we have attributed to the Capital
Group all of our notes and debentures (and related interest expense) that
have not been attributed to the Interactive Group. See note 3 below for the
debt obligations attributed to the Capital Group.
Any businesses that we may acquire in the future that are not attributed to
the Interactive Group will be attributed to the Capital Group.
While we believe the allocation methodology described above is reasonable
and fair to each group, we may elect to change the allocation methodology in
the future. In the event we elect to transfer assets or businesses from one
group to the other, such transfer would be made on a fair value basis and
would be accounted for as a short-term loan unless our board of directors
determines to account for it as a long-term loan or through an inter-group
interest.
(2) Derivative instruments attributed to the Interactive Group are comprised of
QVC's interest rate swap agreements and total return bond swaps that are
related to the parent company debt attributed to the Interactive Group.
9
<Page>
NOTES TO ATTRIBUTED FINANCIAL INFORMATION (CONTINUED)
(UNAUDITED)
(3) Debt attributed to the Interactive Group and the Capital Group is comprised
of the following:
<Table>
<Caption>
MARCH 31, 2007
----------------------
OUTSTANDING CARRYING
PRINCIPAL VALUE
----------- --------
AMOUNTS IN MILLIONS
Interactive Group
7.875% Senior Notes due 2009.......................... $ 670 667
7.75% Senior Notes due 2009........................... 234 234
5.7% Senior Notes due 2013............................ 802 800
8.5% Senior Debentures due 2029....................... 500 495
8.25% Senior Debentures due 2030...................... 902 895
QVC bank credit facilities............................ 3,175 3,175
Other subsidiary debt................................. 68 68
------- ------
Total Interactive Group debt........................ 6,351 6,334
------- ------
Capital Group
4% Senior Exchangeable Debentures due 2029............ 869 589
3.75% Senior Exchangeable Debentures due 2030......... 810 502
3.5% Senior Exchangeable Debentures due 2031.......... 502 486
3.25% Senior Exchangeable Debentures due 2031......... 551 447
0.75% Senior Exchangeable Debentures due 2023......... 1,750 2,039
Subsidiary debt....................................... 107 107
------- ------
Total Capital Group debt............................ 4,589 4,170
------- ------
Total debt.............................................. $10,940 10,504
======= ======
</Table>
(4) Cash compensation expense for our corporate employees has been allocated
between the Interactive Group and the Capital Group based on the estimated
percentage of time spent providing services for each group. Stock-based
compensation expense for our corporate employees has been allocated between
the Interactive Group and the Capital Group based on the compensation
derived from the equity awards for the respective tracking stock. Other
general and administrative expenses are charged directly to the groups
whenever possible and are otherwise allocated based on estimated usage or
some other reasonably determined methodology. Amounts allocated from the
Capital Group to the Interactive Group for each of the three month periods
ended March 31, 2007 and 2006 were $3 million. While we believe that this
allocation method is reasonable and fair to each group, we may elect to
change the allocation methodology or percentages used to allocate general
and administrative expenses in the future.
(5) We have accounted for income taxes for the Interactive Group and the Capital
Group in the accompanying attributed financial information in a manner
similar to a stand-alone company basis. To the extent this methodology
differs from our tax sharing policy, differences have been reflected in the
attributed net assets of the groups.
(6) The Liberty Interactive Stock and the Liberty Capital Stock have voting and
conversion rights under our amended charter. Following is a summary of those
rights. Holders of Series A common stock of each group are entitled to one
vote per share and holders of Series B common stock of each group are
entitled to ten votes per share. Holders of Series C common stock of each
group, if issued, will be entitled to 1/100th of a vote per share in certain
limited cases and will otherwise not be entitled to vote. In general,
holders of Series A and Series B common stock vote as a single
10
<Page>
NOTES TO ATTRIBUTED FINANCIAL INFORMATION (CONTINUED)
(UNAUDITED)
class. In certain limited circumstances, the board may elect to seek the
approval of the holders of only Series A and Series B Liberty Interactive
Stock or the approval of the holders of only Series A and Series B Liberty
Capital Stock.
At the option of the holder, each share of Series B common stock is
convertible into one share of Series A common stock of the same group. At
the discretion of our board, Liberty Interactive Stock may be converted into
Liberty Capital Stock at any time following the first anniversary of the
restructuring. In addition, following certain group dispositions and subject
to certain limitations, Liberty Capital Stock may be converted into Liberty
Interactive Stock, and Liberty Interactive Stock may be converted into
Liberty Capital Stock.
11