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February 03, 2003

Univision Communications Inc. (NYSE: UVN) and Hispanic Broadcasting Corporation ("HBC") that their stockholders have approved the pending merger. Subject to FCC approval, Univision expects to close the transaction on or about March 14, 2003.

Univision stockholders also approved a proposal to increase Univision's authorized Class A common stock from 300 million to 800 million shares.

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