Exhibit 99.2

                Tevecap S.A. Reports Default on Principal Payment

      SAO PAULO, November 26, 2004 - Tevecap S.A. (the "Company"), a major pay
television operator in Brazil and one of the country's primary pay television
programming distributors, today announced that it will not make a US$48,022,000
principal payment due on November 26, 2004, the maturity date of its 12.625%
Senior Notes due 2004 (the "Notes") which have been registered under the
Securities Act of 1933. The Company is conducting an exchange offer for the
Notes pursuant to a Prospectus dated October 13, 2004, and today announced the
extension of the exchange offer until December 10, 2004.

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      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.

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              This press release is dated as of November 26, 2004.