ONO second quarter 2008 results

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 second quarter ended 30 June 2008.

Television

Operating data (in thousands, unless otherwise stated):

                      30-Jun-08  31-Mar-08  % change  30-Jun-07  % change
                      ---------  ---------  --------  ---------  --------
Cable Customers           1,889      1,878      0.6%      1,823      3.6%
Television RGUs           1,052      1,011      4.1%        904     16.4%
 - as % of customers      55.7%      53.8%     1.9pp      49.6%     6.1pp

Cable television customers increased by 148,000 or 16.4% in the last twelve months to reach 1,052,000 as of 30 June 2008, mainly due to the launch of new television packages in the third quarter of 2007, including a low entry option, “TV Esencial”. We added a total of 41,262 net new television customers in the second quarter of 2008.

Cable television customers as a proportion of total customers increased by 6.1 pp in the last twelve months to 55.7% as of 30 June 2008 and the penetration of cable television services over homes released to marketing increased in the last twelve months by 1.4 pp to 15.2%, representing an inflection point in the trend experienced by this RGU in the last years.

At the end of the second quarter of 2008, 91% of our total television customer base enjoyed our digital offering.

More: Earnings Releases