FORM OF NOTICE OF GUARANTEED DELIVERY
                                      FOR
                                  TEVECAP S.A.
 
    This Notice of Guaranteed Delivery, or one substantially equivalent to this
form, must be used to accept the Registered Exchange Offer (as defined below) of
Tevecap S.A. ("Tevecap") made pursuant to the Prospectus, dated             ,
1997 (as the same may be amended or supplemented from time to time, the
"Prospectus"), and the related Letter of Transmittal (the "Letter of
Transmittal") if the Letter of Transmittal and all other required documents
cannot be delivered or transmitted by facsimile transmission, mail or hand
delivery to The Chase Manhattan Bank (the "Exchange Agent") on or prior to 5:00
p.m., New York City time, on the Expiration Date (as defined in the Prospectus)
or the procedures for delivery by book-entry transfer cannot be completed on a
timely basis. See "The Registered Exchange Offer-- Guaranteed Delivery
Procedures" section in the Prospectus. The term "Old Notes" means Tevecap's
outstanding 12 5/8% Senior Notes due 2004, and the term "Old Securities" means
the Old Notes together with the Subsidiary Guarantees (as defined in the
Prospectus) of the Old Notes.
 
 THE REGISTERED EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M. NEW YORK CITY TIME, ON
             , 1997 (UNLESS EXTENDED) (THE "EXPIRATION DATE"). TENDERED OLD
 SECURITIES MAY BE WITHDRAWN AT ANY TIME ON OR PRIOR TO THE EXPIRATION DATE OF
 THE REGISTERED EXCHANGE OFFER.
 
             Deliver to: The Chase Manhattan Bank, Exchange Agent:
                      BY HAND, MAIL OR OVERNIGHT COURIER:
                            THE CHASE MANHATTAN BANK
                                   15th Floor
                              450 West 33rd Street
                            New York, New York 10001
                             Attn: Douglas Lavelle
                                 BY FACSIMILE:
                                 (212) 946-8177
 
                            CONFIRMED BY TELEPHONE:
                                 (212) 946-3009
 
    DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS
SET FORTH ABOVE OR TRANSMISSION OF THIS NOTICE OF GUARANTEED DELIVERY VIA
FACSIMILE TO A NUMBER OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID
DELIVERY.

    This Notice of Guaranteed Delivery is not to be used to guarantee
signatures. If a signature on a Letter of Transmittal is required to be
guaranteed by an "Eligible Institution" under the instructions thereto, such
signature guarantee must appear in the applicable space provided in the
signature box on the Letter of Transmittal.
 
Ladies and Gentlemen:
 
    The undersigned hereby tenders to Tevecap, upon the terms and conditions set
forth in the Prospectus and the Letter of Transmittal (which together constitute
the "Registered Exchange Offer"), receipt of which are hereby acknowledged, the
aggregate principal amount of Old Securities set forth below pursuant to the
guaranteed delivery procedure described in "The Registered Exchange Offer--
Guaranteed Delivery Procedures" section in the Prospectus and the Letter of
Transmittal.
 

                                            
Principal Amount of Old Notes and
Subsidiary Guarantees Signature(s)
Tendered $                                     Signature(s)
 
Certificate Nos.
  (if available)                               Please Print the Following Information
                                               Names(s) of Registered Holders
 
Total Principal Amount
  Represented by Old Notes and
  Subsidiary Guarantees
  Address Certificate(s)                       Address
 
If Old Securities will be tendered by
book-entry transfer, provide the
following information:
DTC Account Number                             Area Code and Telephone Number(s)
Dated: , 1997

 
                                   GUARANTEE
                    (NOT TO BE USED FOR SIGNATURE GUARANTEE)
 
    The undersigned, a firm or entity identified in Rule 17Ad-15 under the
Securities Exchange Act of 1934, as amended, as an "eligible guarantor
institution," hereby guarantees to deliver to the Exchange Agent, at its address
set forth above, either the Old Securities tendered hereby in proper form for
transfer, or confirmation of the book-entry transfer of such Old Securities
pursuant to the procedures for book-entry transfer set forth in the Prospectus,
in either case together with a properly completed and duly executed Letter of
Transmittal (or facsimile thereof), with any required signature guarantees, and
any other documents required by the Letter of Transmittal within three New York
Stock Exchange trading days after the date of execution of this Notice of
Guaranteed Delivery.
 

                                            
Name of Firm                                              (Authorized Signature)
                   Address                     Name
                                               Date
                  Zip Code
 
Area Code and
Telephone Number