Liberty Media Confirmed As Component Of The Dow Jones CDX North American Investment Grade Index

New York, 17 March 2005 - CDS IndexCo LLC and Dow Jones Indexes, publishers of the Dow Jones CDX family of credit derivative indexes, are confirming Liberty Media's position as a component of the Dow Jones CDX North American Investment Grade Series 4 index despite Standard and Poor's downgrade of Liberty to BB+. This action conforms to the Dow Jones CDX index methodology.

The index rules state that the components of a new index must be rated investment grade by both Moody's and S&P at the time it is finalized, four days prior to the roll date. After this point, components may not be added. Removals may only occur if three or more eligible CDS IndexCo consortium members request the removal and a majority of eligible members subsequently approves the removal.

The methodology and rulebook of the Dow Jones CDX Indexes as well as more information on the roll, the underlying constituents of each index, daily pricing and the index annexes can be found at www.djindexes.com and also on the Dow Jones CDX Administrator, Markit's, homepage www.markit.com. The roll is effective Monday, March 21, 2005.

The member banks that are part of the CDS IndexCo consortium include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.

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Notes to editors

About CDS IndexCo

CDS IndexCo is a consortium of 16 investment banks which are licensed to be market makers in the Dow Jones CDX indexes. The market makers include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.

About Dow Jones Indexes

Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages, the Dow Jones Global Titans 50, the Dow Jones Asian Titans 50, the Dow Jones Sector Titans, the Dow Jones Country Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information.

In addition to Dow Jones Indexes, Dow Jones & Company (NYSE: DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC Universal of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.

About Markit

Markit is the leading industry source for asset valuation data and services supporting independent price verification and risk management in global financial and energy markets. Founded in 2001, the company is an independent enterprise with which the world's leading financial institutions and energy traders work strategically to create price transparency. Today, Markit enjoys the sponsorship of 13 financial institutions who manage assets in excess of $10 trillion, and data contribution relationships with over 45 dealing firms. Markit has designed, launched and acquired over 20 financial data services which are now used by over 300 institutions globally. Areas of product expertise and service include an independent valuation perspective on credit default swaps, syndicated loans and OTC derivatives (credit, equity, FX, rates, energy, power, metals and structured products), as well as dividend forecasting and index and ETF management.