ONO Third quarter 2007 results

EBITDA growth of 23%
“¢ Major systems migrations projects completed
“¢ Opex and Capex reductions
“¢ EBITDA margin rises to 42.5%, achieving return to pre-merger level

MADRID — Grupo Corporativo ONO, S.A. (“ONO”), the leading alternative provider of telecommunications, broadband Internet and pay television services in Spain, announced today the consolidated unaudited results for the third quarter ended 30 September 2007.

Cable television customers increased by 5,000 or 0.6% in the quarter to reach 909,000 as of 30 September 2007, mainly due to the launch of new television packages during the quarter, including a low entry option, “TV Esencial”.

Cable television customers as a proportion of total customers increased by 0.1 pp to 49.7% in the quarter and penetration of cable television services over homes released to marketing decreased slightly in the third quarter by 0.2 pp to 13.6%.

At the end of the third quarter of 2007, 89% of our total television customer base enjoyed our digital offering.