Cisneros Group’s U.S. Hispanic Phone Service Movida continues rapid growth.

The Cisneros Group of Companies announced that Movida has continued its rapid growth in 2006 meeting its ambitious targets for expansion set when it was launched just over a year ago. Movida now has close to 100,000 subscribers.

Movida now expects that by the end of next year it will have close to 500,000 subscribers.

Gustavo Cisneros, chairman of the Cisneros Group said: “We believe Movida’s combination of efficient, widely available service, plus specialized information content geared to the needs and habits of the U.S.-Hispanic population, make Movida an unbeatable combination in terms of value and service. It is just one more example of how the Cisneros Group’s experience serving this dynamic, young market — and its special needs — produces tremendous success in this fastest-growing sector of the U.S. economy.”

Commenting on Movida’s rapid growth, Movida Chairman and Chief Executive Officer, Enrique Garcia, said: “Movida has benefited from a vast expansion of its retail sales network this year, adding thousands of convenient new outlets from coast-to-coast. This provides easier access to what has proved to be a very attractive product for the U.S.-Hispanic consumer. We now expect that by year end 2007 we will have close to 500,000 subscribers, ahead of our initial estimates.”

“We are also excited about the addition of expanded information services aimed specifically at the needs of our customers with roots in the diverse cultural fabric of Latin America,” he said. “These services will include national sports scores and team statistics from all over the Spanish-speaking world, as well as links to information about popular television shows and telenovelas,” Mr. Garcia said.

Originally launched at Wal-Mart stores across the nation, Movida is now available at thousands of additional retail sales outlets including Blockbuster Puerto Rico, Circle K, ConocoPhillips, Duane Reade (starting October 1st), Family Dollar Stores, Kmart, Pueblo Supermarkets, Radio Shack (Franchises), and Valero among others.

Movida – majority-owned by Cisneros – has teamed with Sprint and Wal-Mart to begin providing wireless voice and data communications using the Sprint nationwide wireless network, with rate plans that cater to the needs of the U.S. Hispanic market.