"With the successful conclusion of our recent euro 325 million bank
refinancing, we have repaid our C More acquisition debt and defeased and
called for redemption our 12% Senior Notes. The following table
shows our operating expenses as a percentage of net revenues for the periods
indicated.2%
Depreciation and amortization 4. Such savings were
partly offset by station operating expenses of euro 134 at the newly acquired
Romanian Radio operations.2% in
2004 and 2005, respectively .

Depreciation and Amortization Expenses
Depreciation and amortization expenses increased euro 1,270, or 20%, from
euro 6,341 in 2004 to euro 7,611 in 2005, mainly due to increased amortization
expenses associated with our broadcasting licenses in Hungary and Radio
Sweden.

Adjusted EBITDA
We use the key indicator of operating income before depreciation,
amortization and non-cash compensation ("adjusted EBITDA"), along with
adjusted EBITDA margin, primarily to evaluate the group's and our individual
subsidiaries' operating performance, and for planning and forecasting future
business operations.
Three months ended
March 31,
2004 2005
Operating income (loss) euro (2,522) euro 188

Add: Non-cash compensation 794 345
Depreciation 3,133 3,566
Amortization 3,208 4,045
Adjusted EBITDA euro 4,613 euro 8,144

Adjusted EBITDA increased euro 3,531, or 77%, from euro 4,613 euro 8,
in 2005. wireless carrier to offer Rollover(SM), the wireless plan that lets
customers keep their unused monthly minutes.

hungarians hungarian

Commenting on the results, Markus Tellenbach, Chief Executive Officer of
SBS, said: "In the first quarter we continued to improve our operating
performance and our revenue growth outpaced the market in most of our
territories .0%
Operating expenses:
Station operating expenses 74.0% 70 .8%) 0. The increase in net revenue at VT4 was 6%, mainly
due to an increase in viewer-interactive TV programming revenues, which are
generated when viewers pay premium telephone rates to interact with programs.
The station operating expenses increased euro 12,598, or 14%, at our
Television operations, mainly due to programming expenses of euro 4,853 at our
recently launched television stations and Prima TV. Selling, general and administrative expenses expressed as a
percentage of net revenues were 20. Depreciation and
amortization expenses expressed as a percentage of net revenues were 4.S."
These inequalities are vast.

ldi erkner

- Net Revenue up by 24%

- Adjusted EBITDA improved by 77%

- Margin improvement of 42%

- Net loss decreased 21%

LUXEMBOURG, SBS Broadcasting SA
(Nasdaq: SBTV; Euronext Amsterdam N.

Financing
On March 7, 2005, we entered into a euro 300,000 unsecured bridge facility
agreement with ABN AMRO Bank N. ("ABN AMRO") and then drew down euro 210,000
in order to finance in part our acquisition of C More. Certain
wholly owned subsidiaries in these jurisdictions also guarantee the Facility.

Currency translation adjustments relating
to transactions in currencies other than the functional currency of the entity
involved are reflected in the results of operations as foreign exchange gain
(loss).5, Vinyl and Lugna Melodier (in Sweden) and jointly referred
to as "our Swedish Radio operations";
* KISS FM, Radio City, Radio Sata, Radio Mega, Radio 957, Radio
Jyvaskyla and Iskelmaradio (in Finland) and jointly referred to
as "our Finnish Radio operations";
* The Voice and Radio 2 (in Denmark) and jointly referred to as
"our Danish Radio operations";
* Radio 1 and The Voice (in Norway) and jointly referred to as "our
Norwegian Radio operations";
* Since March 1, 2005, KISS FM and Radio STAR (in Romania) and
jointly referred to as "our Romanian Radio operations"; and
Lampsi (in Greece).

Results from Prima TV in Romania , through February 28, 2005, are not
included in the operations referred to above, but are included in equity in
income (loss) from unconsolidated subsidiaries. Since March 1, 2005, we have
consolidated Prima TV's operations to reflect our 86% controlling interest.
The net revenue increased euro 18,857, or 16%, at our Television
operations mainly due to increased net revenue of euro 3,697, or 22%, at our
Hungarian Television operations, due to an increased television advertising
market and increased viewing shares mainly driven by the introduction of a new
daily soap on TV2. dollar - denominated program liabilities. GAAP, such as operating income
and net income.
Cash provided by financing activities was euro 219,686 in 2005, compared
to euro 1,814 in 2004. In addition, we
may make forward-looking statements in future filings with the Securities and
Exchange Commission , and in written material, press releases and oral
statements issued by us or on our behalf.00) 63,562 64,483
Additional paid-in capital 683,678 691,793
Accumulated deficit (394,965) (398 ,056)
Unearned compensation (1,376) (1,258)
Accumulated other comprehensive loss (5,953) (8,867)
Total shareholders' equity 344,946 348,095
Total liabilities and shareholders'
equity euro 790,747 euro 1,058,653

SBS BROADCASTING SA
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands of euro)

Three months ended March 31,
2004 2005
Cash flows from operating activities:
Net loss euro (3,906) euro (3,091)
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
Revenue recorded in exchange for equity
investments (703) (1,241)
Non-cash compensation 794 345
Depreciation and amortization 6,341 7,611
Equity in loss from unconsolidated subsidiaries 576 597
Non-cash interest expense (income) (1,966) 350
Foreign exchange gain on long-term debt (183) (167)
Investment gain -- (61)
Deferred tax expense (benefit ) 251 (1,155)
Minority interest in losses (1,112) (100)

Changes in operating assets and liabilities,
net of amounts acquired:

Accounts receivable 10,484 (1,619 )
Program rights inventory, net (2,124) 18,799
Other current assets 826 2,033
Other non-current assets (43) (1,229)
Accounts payable and accrued expenses (17,117) (7,327)
Deferred income (3,055) (518)
Other liabilities (474) (1,515)
Cash provided by (used in) operating
activities (11 ,411) 11,712

Cash flows from investing activities:
Proceeds from sale of short-term investments -- 163
Cash capital expenditures (2,645) (4,056)
Payments for purchase of acquired businesses,
net of cash acquired -- (292,643)
Cash used in investing activities (2,645) (296,536)

Cash flows from financing activities:
Proceeds from issuance of common shares 1,893 8,811
Proceeds from issuance of debt -- 210,000
Net change in restricted cash and cash in escrow 56 1,026
Payment of long-term debt (135) (151)
Cash provided by financing activities 1,814 219,686

Effect of exchange rate changes on cash and cash
equivalents (433) (1,229)
Net change in cash and cash equivalents (12,675) (66,367)

Cash and cash equivalents, beginning of period 245,836 196,033
Cash and cash equivalents, end of period euro 233,161 euro 129,666

SBS BROADCASTING SA
OPERATING RESULTS BY SEGMENT (UNAUDITED)
(in thousands of euro)

Three months ended March 31,
2004 2005
Television
Net revenue:
SBS6, NET5 and Veronica (in the Netherlands) euro 41,913 euro 44,091
TV2 + Irisz (in Hungary) 16 ,559 20,256
Kanal 5 (in Sweden) 20,148 23,569
VT4 + VijfTV (in Belgium) 13,990 15,497
TV Norge (in Norway) 11,256 14,686
TV Danmark and Kanal 5 (in Denmark ) 9,721 11,399
Prima TV (in Romania) -- 955
The Voice TV -- 790
Other 765 1,966
Total net revenue 114,352 133,209

Station operating expenses 88,779 101,377
Selling, general and administrative expenses 19,335 23,656
Depreciation and amortization 3,874 4,785
Total operating expenses 111,988 129,818
Income from segment euro 2,364 euro 3,391

Premium pay
Net revenue: -- euro 13,171
Station operating expenses -- 6,810
Selling, general and administrative expenses -- 5,773
Depreciation and amortization -- 94
Total operating expenses -- 12,677
Income from segment -- euro 494

Radio
Net revenue:
Sweden euro 3,259 euro 3,243
Finland 2,925 3,093
Denmark 2,658 2,724
Norway 1,806 2,332
Romania -- 549
Greece 1,033 959
Total net revenue 11,681 12,900

Station operating expenses 6,627 6,328
Selling, general and administrative expenses 6,838 6,958
Depreciation and amortization 1,439 1 ,741
Total operating expenses 14,904 15,027
Loss from segment euro (3,223) euro (2,127)

Print
Net revenue: euro 14,641 euro 15,787
Station operating expenses 8,729 8,277
Selling, general and administrative expenses 2,316 3,422
Depreciation and amortization 1,028 991
Total operating expenses 12,073 12,690
Income from segment euro 2,568 euro 3,097

Consolidated
Net revenue: euro 140,674 euro 175,067
Income from operating segments 1,709 4,855
Corporate expenses (3,437) (4,322)
Non-cash compensation (794) (345 )
Operating income (loss) euro (2,522) euro 188

National Campaign Will Urge Congress to Address Inequalities
in the Ryan White CARE Act

WASHINGTON, The National Minority Health Month
Foundation (NMHMF) today announces a broad-based national campaign aimed at
encouraging the U. OKLAHOMA CITY, Cingular Wireless is enhancing its
support of NCAA athletics and postgraduate studies by presenting a check for
$43,500 to the NCAA's Ethnic Minority and Women's Enhancement Postgraduate
Scholarship Programs . In addition, Cingular provides financial resources,
manpower and expertise to help emphasize the important role intercollegiate
athletics, including 88 championships in 23 sports, plays in our society .

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A.V. The bridge facility had a term of six-months.7%
Non-cash compensation 0.

Station Operating Expenses
Station operating expenses increased euro 18 ,657, or 18%, from
euro 104,135 in 2004 to euro 122,792 in 2005. The improvement, euro 23,123, was
primarily due to timing differences related to programming payments. These forward-looking statements include statements relating to our
future performance, competition, trends and anticipated developments in the
television and radio broadcasting, and publishing industry."
The Ethnic Minority and Women's Enhancement Postgraduate Scholarship
Programs were created by the NCAA to increase the pool of and opportunities
for qualified minority and female candidates in intercollegiate athletics
through postgraduate scholarships provided by the NCAA national office.

hungarian descendance

1%
Selling, general and administrative expenses 20.5% 4. Our Belgian Television operations had
increased net revenue of euro 1 ,507, or 11%, approximately half of which came
from newly launched VijfTV.
Our Radio operations net revenue increased euro 1,219, or 10%, mainly due
to net revenue of euro 549 at the newly acquired Romanian Radio operations,
which we have consolidated from March 1, 2005.7% in 2004 and 2005,
respectively .
SBS is a European commercial television and radio broadcasting company
with operations in Western and Central Europe.
Recent patterns in the United States show that HIV/AIDS increasingly
affects African Americans, Latinos, and other racial and ethnic minorities. We
must modernize our HIV/AIDS program both to reflect the changing demographics
of this epidemic and to ensure that everyone receives the most advanced
treatment and medical care available," said Dr.
Sixteen scholarships to ethnic minorities and 16 scholarships to women are
available annually to college graduates who are entering the first year of
their initial postgraduate studies in a sports administration or related
program.
The scholarship donation helps further Cingular's mission to foster
learning , balance, character, community, spirit and fair play among the NCAA's
360,000 student-athletes.S .

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In the discussions of the results for the three months ended March 31,
2005 compared to the three months ended March 31, 2004, we divide our
operations into four segments:

(1) "Television operations", which include:
* SBS6, NET5 and Veronica (in The Netherlands ) and jointly referred
to as "our Dutch Television operations";
* TV2 and , since September 2004, Irisz (in Hungary) and jointly
referred to as "our Hungarian Television operations";
* Kanal 5 (in Sweden);
* VT4 and, since October 2004, VijfTV (in Flemish Belgium) and
jointly referred to as "our Belgian Television operations";
* TVNorge (in Norway);
* TvDanmark and Kanal 5 (in Denmark ) and jointly referred to as
"our Danish Television operations";
* since March 1, 2005, Prima TV (in Romania);
* since August 2004, The Voice TV (in Denmark, Norway , Sweden and
Finland); and
* other related operations that are not material .5%
Adjusted EBITDA margin 3.5% in 2004 and 2005, respectively.

Other Expenses, Net
Other expenses, net, increased euro 604, from euro 547 in 2004 to euro
1,151 in 2005, mainly due to written-off project costs in 2005.
There are material limitations to using measures such as adjusted EBITDA
and adjusted EBITDA margin, including the aforementioned difficulties
associated with comparing these performance measures as we calculate them to
similar performance measures presented by other companies, and the fact that
these performance measures do not take into account significant items, such as
depreciation and amortization. Adjusted EBITDA should be considered in
addition to, but not as a substitute for, other measures of financial
performance reported in accordance with U.
We provide below, on a consolidated basis, a reconciliation of the
non-GAAP term adjusted EBITDA to operating income (loss), which is the most
directly comparable U.
This centralized data warehouse allows the Foundation to house vital
statistics; demographic , environmental, claims, prescription-drug, and
clinical-laboratory values; health-care access points , and other data.

martians slovakian

: SBS) today reported financial results
for the three months ended March 31, 2005 .
C More is the leading Nordic pay entertainment provider, with over 770,000
subscribers in Sweden, Norway, Finland and Denmark. We rely on this measurement, in
particular, to help plan and implement the expansion of our existing
businesses and the development of new revenue streams.6% 0. Our Danish Television
operations had an increase in net revenue of euro 1,678, or 17 %, mainly due to
increased viewing shares at Kanal 5 (Denmark) driven by the broadcast of the
Royal League and other sports programs.

Corporate Expenses
Corporate expenses increased euro 885 from euro 3,437 in 2004 to
euro 4,322 in 2005, mainly due to an increase in headcount and expenses
related to Sarbanes-Oxley compliance work.13) euro (0.
In 2004, minorities accounted for almost three-fourths of new cases of AIDS in
an HIV/AIDS surveillance report by the Centers for Disease Control and
Prevention (CDC). Puckrein.

About the NCAA
The NCAA is a membership -led nonprofit association of colleges and
universities committed to supporting academic and athletic opportunities for
more than 360,000 student-athletes at more than 1,000 member colleges and
universities .

khazar hungarians

SBS Broadcasting SA Reports First Quarter 2005 Results

10) 23%

Weighted average common shares (000) 31,075 31,963

Cash provided by (used in) operating
activities (11,411) 11,712

Adjusted EBITDA margin(3 ) 3.0% and 70.
Our Print operations had decreased expenses of euro 452, or 5 %, mainly due
to reduced printing cost. Excluding such expenses selling, general and
administrative expenses decreased by euro 37.
Despite operating losses of euro 2,921 at our recently launched television
stations, The Voice TV, VijfTV and Irisz, our Television operations improved
operating income by euro 1,027 from euro 2,364 in 2004 to euro 3,391 in 2005. The majority of these losses relates to
our investment in Prima TV, which has been consolidated since March 1, 2005.

Net Interest Expense
Net interest expense increased euro 1,264, or 67%, from euro 1,897 in 2004
to euro 3,161 in 2005. The improvement was mainly due to improved
results from our Dutch Television operations .
It is important to note that our actual results in the future could differ
materially from those anticipated in these forward-looking statements
depending on various important factors.10)

Weighted average common shares (thousands) 31,075 31,963

SBS BROADCASTING SA
CONSOLIDATED CONDENSED BALANCE SHEETS
(in thousands of euro)

December 31, March 31,
ASSETS 2004 2005
Current assets:
Cash and cash equivalents euro 196 ,033 euro 129,666
Short-term investments 354 252
Trade accounts receivable, net of allowance
for doubtful accounts of euro 5,070
(euro 4,294 in 2004) 88,398 101,586
Accounts receivable , affiliates 1,475 1,583
Restricted cash and cash in escrow 2,451 1,636
Program rights inventory, current 117,544 144,431
Deferred tax assets, current 2,372 11,509
Other current assets 23,702 43,519
Total current assets 432,329 434,182

Buildings, improvements, technical and other
equipment, net of accumulated depreciation 41,256 43,519
Goodwill and other intangible assets, net of
accumulated amortization 245,274 499,809
Program rights inventory, non-current 62,928 73,940
Deferred financing cost, net of accumulated
amortization 2,600 3,290
Investments in and advances to unconsolidated
subsidiaries 5,972 3,299
Other assets 388 614
Total assets euro 790 ,747 euro 1,058,653

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
Accounts payable euro 33,698 euro 39,715
Accrued expenses 66,702 75,606
Program rights payable, current 46,674 73,774
Income taxes payable 3,763 3,068
Current portion of long-term debt 2,550 8,815
Deferred income, current 40,785 41,506
Deferred taxes, current 9,271 9,613
Other current liabilities 19,780 23,137
Total current liabilities 223,223 275,234

Program rights payable, non-current 22 ,651 32,103
Bridge facility -- 210,000
12% senior notes due 2008 103,655 103,655
Other long-term debt 6,784 153
Deferred tax, non-current 23,109 22,447
Other non-current liabilities 7 ,588 8,093
Minority interest 58,791 58,873
Shareholders' equity:
Common Shares (authorized 75,000,000 issued
32,241 ,729 (31,780,895 in 2004) at
par value euro 2.
For additional information and interview requests, please contact Cleve
Mesidor at (202) 223-7560.

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(2) Adjusted EBITDA is defined as operating income (loss) plus non-cash
compensation, depreciation and amortization expenses (see page 9). The acquired net assets of C More included approximately
euro 20,000 in cash at December 31, 2004. In 2004, C More Group had revenues of SEK
1,657,000 (euro 181,000) from channel subscriptions and other sources.

(2) "Premium pay operations", which include C More Group AB in Sweden ,
Norway, Finland and Denmark. Excluding such revenue, net
revenue increased euro 670 , or 6%, mainly due to increased net revenue at our
Norwegian Radio operations, arising from sales agreements with other radio
stations. Our newly acquired
businesses, C More, Prima TV and the Romanian Radio stations, and the recently
launched television stations, The Voice TV, VijfTV and Irisz, had selling,
general and administrative expenses of euro 6,524. Excluding such expenses,
our selling, general and administrative operating expenses increased euro
4,796, or 17%.3% and 22.
Our Television operations had increased selling, general and
administrative expenses of euro 4 ,321, or 22%, mainly due to increased
marketing expenses at Kanal 5, TVNorge and TV2 related to the promotion of new
programming initiatives. Non-cash
compensation expressed as a percentage of net revenues was 0. In 2004 we recorded an

income tax expense of euro 251, mainly related to pre -tax income in VT4 and
Lampsi. The measures also exclude non-cash compensation because
it does not reflect the operating results that we achieve from servicing our
customers.

Cash Flow
Cash provided by operations was euro 11,712 in 2005, compared to cash used
in operations of euro 11,411 in 2004.

Forward-Looking Statements
Some of the statements in this press release are forward-looking,
including, without limitation: the statement that our revenue growth outpaced
the market in most of our territories; the statement that through the
successful launch of new digital channels and the acquisition of the C More
Group we are rapidly expanding and diversifying our revenue streams; the
statement that we are executing this growth strategy in a manner that enables
us to continue to expand our cash generating ability; the statement that the
Company will benefit from the significant reduction in interest rates compared
to our 12% Senior Notes that was achieved based on our strengthened balance
sheet and improving cash flows; the statement that as we are not heavily
leveraged based on our cash flows and total net debt, we are in a strong
position to capitalize on the rapidly developing digital content market while
continuing to seek prudent expansion opportunities to drive growth; and the
statement that holders of the Senior Notes will receive a redemption price of
106% of the principal amount of the Senior Notes plus accrued and unpaid
interest on the Senior Notes on the redemption date, which will be June 15,
2005.S. The Foundation has
developed a comprehensive relational data platform for identifying the
prevalence of health-status and health-care disparities at the zip-code level.

Home-pages with content about Hungarians living outside Hungary's actual state -borders.

hungarian expressing

3% 4. The channels are distributed primarily by direct-
to-home satellite (DTH ), cable, broadband and, increasingly, by digital
terrestrial transmission (DTT). C More
has had positive net income for the last three years and has no debt.
We funded the defeasance and redemption of the Senior Notes with funds
drawn under the Facility and we utilized the remaining amounts under the
Facility and a portion of our cash reserves to fully repay euro 210,000 and
accrued interest due under the euro 300,000 bridge facility with ABN AMRO.
Our Print operations had increased net revenues of euro 1,146, or 8%,
mainly due to increased subscription income coming from a combination of an
increase in subscribers and an increase in magazine prices. The foreign exchange gain in both years relates mainly to
our U. Of
these women newly diagnosed with AIDS, 67 percent were African Americans and
15 percent were Latinas. Cingular, a joint venture between SBC
Communications Inc .

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Amounts borrowed under the Facility bear interest at a rate of
EURIBOR plus a margin based on our senior net debt leverage ratio. GAAP"). We also incur
significant operating expenses for programming in U.4% and 2. In 2005 we recorded non-cash compensation of euro 345, mainly
related to options to purchase 66,667 of the options to purchase shares of
common stock still subject to variable accounting treatment.S.com


SBS BROADCASTING SA
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands of euro, except share and per share data)

Three months ended
March 31,

2004 2005

Net revenue euro 140 ,674 euro 175,067

Operating expenses:
Station operating expenses (exclusive of
depreciation and amortization) 104,135 122,792
Selling, general and administrative expenses
(exclusive of depreciation and amortization) 28,489 39,809
Corporate expenses 3,437 4,322
Non-cash compensation 794 345
Depreciation 3,133 3,566
Amortization 3,208 4,045
Total operating expenses 143,196 174 ,879

Operating income (loss) (2,522) 188

Equity in loss from unconsolidated subsidiaries (576) (597)
Interest income 1,072 933
Interest expense (2,969) (4,094)
Foreign exchange gain 775 314
Investment gain -- 61
Other expense, net (547) (1,151)

Loss before income taxes and minority interest (4,767) (4,346)

Income taxes (251) 1,155

Loss before minority interest (5,018 ) (3,191)

Minority interest in losses, net 1,112 100

Net loss euro (3,906) euro (3,091)

Net loss per common share (basic and diluted) euro (0. The
Foundation is thus able to measure and forecast health status in small
geographic areas, evaluate the impact of specific interventions, monitor
changes in health outcomes, and serve as a valuable resource for the health-
disparities movement. Its
participation in this program also provides funding for related NCAA youth
programs. Get Cingular Wireless press releases
e-mailed to you automatically.

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Our consolidated broadcasting operations generate revenues primarily in
euro, Hungarian forint, Swedish kronor, Norwegian kroner and Danish kroner and
incur substantial operating expenses in these currencies.

(3) "Radio operations ", which include:
* Mix Megapol, The Voice, Radio City, 106.
When analyzing results within the different categories of operations for
any particular period, the sums of the individual items reported within each
category may differ from the total reported for such category.

Operating Expenses as a Percentage of Revenue
We monitor our operating expenses as a percentage of our net revenue as
part of our cost management efforts.3% 4. Amortization also increased due to amortization of intangible assets
recorded on the acquisition of 49% of TVNorge in 2004.
Our Radio operations reduced operating losses by euro 1,096 from
euro 3,223 in 2004 to euro 2 ,127 in 2005, mainly due to reduced losses of
euro 675 at our Danish Radio operations.

Foreign Exchange Gain
Foreign exchange gain decreased euro 461, from euro 775 in 2004 to
euro 314 in 2005. We recorded no investment gains in 2004. Cingular's donation will allow for an additional six scholarships to
be given in the 2005-2006 school year.

ABOUT CINGULAR WIRELESS
Cingular Wireless is the largest wireless carrier in the United States,
serving more than 50 million customers.ncaa.

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8% indirect equity stake for euro
7,800 from Romanian Investment and Development srl . We acquired C More on March 8, 2005
and, accordingly, the results of operations have been reflected in
our consolidated financial statements since that date.7 Rockklassiker, Studio
107.
Our Radio operations had increased selling, general and administrative
expenses of euro 120, or 2%, due to expenses of euro 157 at the newly acquired
Romanian Radio operations.

All forward-looking statements in this press release are based on
information available to us on the date hereof.

yugoslavian erkner

Premium Pay
On March 8, 2005, we acquired all of the shares of C More Group AB for
euro 269,600 in cash. Holders of the Senior Notes will receive a redemption
price of 106% of the principal amount of the Senior Notes plus accrued and
unpaid interest on the Senior Notes on the redemption date, which will be June
15, 2005.3% 22.4% 2 . Excluding
our new businesses, our net revenue increased euro 18,133, or 13%. The following table shows the changes in the adjusted EBITDA by
segment:

Three months ended
March 31,

2004 2005

Television operations euro 6,238 euro 8,176
Premium pay operations -- 588
Radio operations (1,784) (386)
Print operations 3,596 4,088
Cash corporate expenses (3,437) (4,322)
Adjusted EBITDA euro 4,613 euro 8,144

Despite losses of euro 2,778 at our recently launched television stations,
The Voice TV, VijfTV and Irisz, our Television operations improved adjusted
EBITDA by euro 1,938 to euro 8,176.
Our Radio operations improved adjusted EBITDA by euro 1,398, mainly due to
decreasing losses in our Danish and Norwegian Radio operations. Of these newly identified AIDS patients, 48 percent were
African Americans and 21 percent were Latinos. The CARE Act's current focus on legacy
communities -- many of which are large, densely populated centers, such as New
York City -- leaves gaps in prevention and treatment efforts in Alabama ,
Florida, Georgia, and elsewhere in the country, where incidence and prevalence
of HIV/AIDS are increasing among minority and non minority populations.

Cingular Wireless Donation To Benefit NCAA Ethnic Minority and Women's Scholarship Programs

The goal of the program is to assist
students interested in gaining careers in intercollegiate athletics.

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In connection with the Facility, we called for redemption all of our 12%
Senior Notes due 2008 (the "Senior Notes"), which had an outstanding principal
amount of euro 103,655.7%
Corporate expenses 2. GAAP financial measure, for the three months ended
March 31, 2004 and 2005. The increase was mainly due to our investments in C More,
Prima TV and the Romanian radio operations.

About the National Minority Health Month Foundation
Founded as a nonprofit organization in 1998, the National Minority Health
Month Foundation was established to strengthen national and local efforts to
eliminate the disproportionate burden of premature death and preventable
illness in racial and ethnic minorities and other special populations through
the use of evidence-based, data-driven initiatives.cingular.com/newsroom .

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13 ) euro (0."

Recent Developments

Romania
On March 1, 2005, we increased our equity stake in Prima TV to 86%
following the purchase of an additional 48. We deposited with the trustee for the Senior Notes cash sufficient
to fund the redemption and thereby defeased the covenants contained in the
indenture for the Senior Notes until their redemption.
The Facility is a fully revolving facility with a term of five years,
although we have the right during the first twelve months to request a one-
year extension. Balance sheet
accounts are translated from foreign currencies into euro at the period-end
exchange rates and statement of operations accounts are translated at the
weighted average exchange rates for the period. Differences are
primarily attributable to corporate charges, eliminations between categories
and items attributable to entities that are not separately disclosed but are
included within the totals for the different categories. Our newly acquired businesses, C
More, Prima TV and the Romanian Radio stations, and the recently launched
television stations, The Voice TV, VijfTV and Irisz, had station operating
expenses of euro 11 ,797. Station operating expenses expressed as
a percentage of net revenues were 74. Excluding such expenses,
our station operating expenses increased euro 7,745, or 9%, mainly due to our
programming investments in Royal League, the new daily soap at TV2 and a co-
produced Big Brother show in Norway and Sweden. Corporate expenses expressed as a
percentage of net revenues were 2.
Our Print operations increased operating income by euro 529 from
euro 2,568 in 2004 to euro 3,097 in 2005.

Equity in Income (Loss) from Unconsolidated Subsidiaries
Equity in loss from unconsolidated subsidiaries increased euro 21, from
euro 576 in 2004 to euro 597 in 2005.
Our Premium pay operations, which were consolidated from March 8, 2005,
generated adjusted EBITDA of euro 588. Countries where SBS currently
has broadcasting assets include: Belgium (Flanders), Denmark, Finland, Greece ,
Hungary, The Netherlands, Norway, Romania and Sweden.

The Women's College World
Series is an excellent platform to announce this scholarship contribution.org .

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(3) Adjusted EBITDA margin is adjusted EBITDA expressed as a percentage
of net revenue. SBS has held a minority
ownership interest in Prima TV since July 2001 and originally invested in
Prima TV in March 2000 . The initial
margin is 0. To provide security, the Company and certain of its
subsidiaries have pledged shares of certain wholly owned group companies in
Belgium, The Netherlands, Norway, Sweden and the United Kingdom.
The consolidated statements of operations and balance sheet have been
prepared on the basis of a preliminary purchase price allocation of the
acquisitions completed during the first quarter of 2005.S.

Conference Call
The Company will host a teleconference to discuss its results on Monday,
May 23, 2005 at 10:30 am New York Time, which is 4:30 pm Luxembourg Time. The webcast will be archived
on the Company's website for two weeks.

Congress Must Reduce Disparities in Domestic HIV/AIDS Program

"This is just one way that Cingular can use its relationship with the NCAA
to help strengthen the role that intercollegiate athletics and higher
education play in a student-athlete's life," said David Garver, executive
director of national marketing and sponsorships for Cingular. "It is
important for us to continue to create opportunities for women and minorities,
both on the playing field and in the classroom.

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We financed the
remainder of the purchase price from the Company's cash balances. Amounts
outstanding under the bridge facility bore interest at a rate of EURIBOR plus
0.75%. We expect the final
purchase price allocation to be completed during the second quarter.6% and 0. The change mainly reflects the euro 210,000 drawn on
the bridge facility to fund the C More acquisition and the proceeds of euro
8,811 from stock options exercised in 2005. (NYSE: SBCBLS), has the
largest digital voice and data network in the nation and the largest mobile-
to-mobile community of any national wireless carrier. Each year, more than 49 ,000 student-athletes compete in NCAA
Championships in Division I, II and III sports.

Please , do not submit pages with other contents as mentioned above!
Submit only pages in English, please ! For pages in Hungarian please go to World/Magyar/Trsadalom/Klfldi_Magyarok
Thank you!

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Results, which are attached, are in thousands of euro (except share and
per share data) converted from local currencies. The following report should
be read in conjunction with the accompanying unaudited financial statements.7% 42%


(1) Excluding the impact of our newly acquired businesses , C More, Prima
TV and the Romanian Radio stations, and the recently launched
television stations, The Voice TV, VijfTV and Irisz, net revenue
increased euro 18,133 , or 13%, adjusted EBITDA increased euro 5,592,
or 121%, and operating income (loss) improved euro 5,027. Moreover, we are executing
this growth strategy in a manner that enables us to continue to expand our
cash generating ability. We will benefit from the
significant reduction in interest rates compared to our 12% Senior Notes, that
was achieved based on our strengthened balance sheet and improving cash flows. for a total of euro 22,500
on a debt-free basis.

Three months ended
March 31,
2004 2005
Net revenue 100.3%
Operating income (loss) margin (1. TVNorge and Kanal 5 had increased revenue of euro 3,430, or
30%, and euro 3,421, or 17%, respectively, mainly due to increased viewing
shares driven by new programming investments such as the Royal League
(Scandinavian football) and a co-produced version of Big Brother. Our Dutch
Television operations had increased net revenue of euro 2,178, or 5%, mainly
due to an increase in the television advertising market. Excluding such expenses, our station operating
expenses increased euro 6,860 , or 7%.

Investment Gain
In 2005 we recorded a gain of euro 61 on the sale of our equity interest
in QXL.
Our Print operations improved adjusted EBITDA by euro 492 to euro 4,088.

Forward-looking statements include
statements regarding our intent, belief or current expectations or those of
our officers (including statements preceded by, followed by or that include
forward -looking terminology such as "may", "will", "should", "believes",
"expects", "anticipates", "estimates ", "continues" or similar expressions or
comparable terminology) with respect to various matters.

Some of these factors include: the
effects of, and changes in, regulation and government policy; the effects of
changes in general economic environment; the effects of changes in the
advertising and subscription spending growth; the effects of competition; our
ability to reduce costs; the timely development and acceptance of our new
channels, stations and/or services; the effects of technological changes in
broadcasting technology; and, our success at managing the risks that arise
from these factors. callers) or +1-973-341-
3080 (International callers), passcode 5989479. "Our national campaign will focus on encouraging HIV-
positive patients and community leaders across the country to urge Congress to
address the inequalities of the Ryan White CARE Act. Cingular, an NCAA Corporate Champion since 2003, will
make the presentation during Opening Ceremonies of the Women's College World
Series (WCWS) on June 1. Cingular is the only
U.com .

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We also continued to invest in popular programming , start-up
operations and complementary activities.
We also acquired Romania's leading FM radio network Kiss FM, and FM radio
network Radio Star from MG Media Group Holding S.
On May 12 , 2005, we entered into a euro 325,000 secured syndicated
multicurrency revolving credit facility (the "Facility") with ABN AMRO,
Citigroup Global Markets Limited, Deutsche Bank AG London and The Royal Bank
of Scotland plc, as lead arrangers. Our Dutch Television
operations and VT4 had decreased station operating expenses of euro 871 and
euro 126, respectively.
Our Print operations had increased selling, general and administrative
expenses of euro 1,106, or 48%, mainly due to increased promotion activities
to increase the number of subscribers. We do not undertake to update
any forward-looking statements that may be made by us or on our behalf, in
this press release or otherwise . The teleconference will also be available via live
webcast on the Company's website. Puckrein, PhD .cingular.

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Through the successful launch of new
digital channels and the acquisition of the C More Group we are rapidly
expanding and diversifying our revenue streams.
Our Radio operations had decreased station operating expenses of euro 299,
or 5%, mainly due to cost savings of euro 716 at our Danish Radio operations
as a result of the closing of our news station and POP FM. The increase was mainly due to the absence of a
euro 1,681 non- cash gain in 2004 on an interest rate swap related to our 12%
Senior Notes. Details of the company are
available at http://www.

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Financial Statements
We prepare our financial statements in euro and in accordance with
accounting principles generally accepted in the United States ("U.S. Our newly acquired businesses, C More, Prima TV and the
Romanian Radio stations, and the recently launched television stations, The
Voice TV, VijfTV and Irisz, had combined net revenue of euro 16,260.

Selling, General and Administrative Expenses
Selling, general and administrative expenses increased euro 11,320, or
40%, from euro 28,489 in 2004 to euro 39,809 in 2005.5% and
4.

Operating Income (Loss)
Operating income (loss) improved euro 2,710 from a loss of euro 2,522 in
2004 to an income of euro 188 in 2005.

Income Taxes
In 2005 we recorded an income tax benefit of euro 1,155 corresponding to a
27% effective tax rate applied to our pre-tax loss.

Net Loss
As a result of the foregoing, our net loss decreased euro 815, from a loss
of euro 3,906 in 2004 to a loss of euro 3 ,091 in 2005.sbsbroadcasting. Congress to support the reauthorization and modernization
of the Ryan White Comprehensive AIDS Resources Emergency (CARE) Act in 2006.
"The Ryan White Act is a critically important program in the prevention
and treatment of HIV/AIDS in the United States," said NMHMF Executive Director
Gary A.

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V.
As we are not heavily leveraged based on our cash flows and total net debt , we
are in a strong position to capitalize on the rapidly developing digital
content market while continuing to seek prudent expansion opportunities to
drive growth.7% per annum.S. dollars. From July 2001 until February
28, 2005, we held a minority interest in the station and were unable to
exercise control over the operations.0% 100. These options
are subject to variable accounting treatment, unlike the rest of our share
incentives.
The increase was mainly due to increased operating income of euro 2,353 at our
Dutch Television operations driven by the growth in the Dutch television
advertising market. Sign up at http://www.

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The sellers were primarily private
equity funds represented by Baker Capital and Nordic Capital. As a provider of both
premium sports and premium movies in the Nordic region, which it provides
under the Canal+ and C More brands, C More enjoys market-leading positions in
Sweden, Norway and Finland. Any resulting balance sheet
translation adjustments are recorded as accumulated other comprehensive income
(loss) within shareholders' equity.2%

Three months ended March 31, 2005 compared to three months ended March 31,
2004

Net Revenue
Net revenue increased euro 34,393, or 24%, from euro 140,674 in 2004 to
euro 175,067 in 2005.1% in 2004 and 2005,
respectively.3% in 2004 and 2005, respectively.
Our Premium pay operations, which were consolidated from March 8, 2005,
had operating income of euro 494.com . These key indicators provide investors the opportunity to
evaluate the group's performance as it is viewed by management. Although other
companies in the broadcast industry may present other financial measures, we
believe that adjusted EBITDA and adjusted EBITDA margin provide some
comparability in analyzing the operating performance of companies in our
industry.
Adjusted EBITDA and adjusted EBITDA margin exclude depreciation and
amortization expenses in order to eliminate the impact of generally long-term
capital investments that cannot be significantly influenced by our management
on a short-term basis.
Cash used in investing activities was euro 296,536 in 2005, compared to
euro 2,645 in 2004. The rate also continued to
rise among women, who accounted for 27 percent of new AIDS cases in 2004.
"Antiretroviral drugs did not exist when the CARE Act was drafted . The WCWS will take place at Don Porter Amateur
Softball Association Hall of Fame Stadium in Oklahoma City, Oklahoma from June
2-8, and will be televised on ESPN2.

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Financial highlights are as follows:

Three months ended March 31,
2004 2005 % change
(unaudited) (unaudited)
Net revenue(1) euro 140,674 euro 175 ,067 24%
Adjusted EBITDA(1)(2) 4,613 8,144 77%
Operating income (loss)(1) (2,522) 188 -
Net loss (3,906) (3,091) 21%

Net loss per common share euro (0.

(4) "Print operations", which include the Veronica Magazine and the
Satellite Magazine in The Netherlands.

Non-cash Compensation
In 2004 we recorded non-cash compensation of euro 794, mainly related to
the impact of our increasing share price on options to purchase 466,667 shares
of common stock previously granted to certain of our employees .S. Management believes that when used in this fashion adjusted
EBITDA and adjusted EBITDA margin can be useful tools despite their
limitations.
To access the teleconference, please dial +1-973-321-1100 ten minutes
prior to the start time. If you cannot listen to the teleconference
at its scheduled time, there will be a replay available through May 30, 2005
that can be accessed by dialing +1-877-519-4471 (U.
For further information visit: http://www.
Melody Eclavea , Cingular's marketing director for Oklahoma, will make the
check presentation to Kimberly Ford, Associate Director for Professional
Development at the NCAA. For more information, go
to http://www.

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