On Command Corporation announced today that the closing of its previously announced transaction
with Liberty Media Corporation, pursuant to which Liberty Media will
acquire all the shares of On Command common stock that are not already
beneficially owned by Liberty Media and its subsidiaries, is currently
expected to occur on December 5, 2003 following On Command’s Special
Meeting of Stockholders. The closing is contingent upon approval of the
transaction by On Command’s stockholders and other customary closing
conditions, and the closing date is subject to change.

If the transaction is in fact completed on December 5, 2003, On Command
shareholders who have not validly exercised their appraisal rights will
have the right to receive .175 of a share of Liberty Media Series A common
stock in exchange for each share of On Command common stock held on
December 5, 2003. Such ratio is based on the average closing price of
Liberty Media Series A common stock for the five trading days ending on
the third trading day prior to the closing date. Accordingly, if the
closing occurs after December 5, 2003, the final ratio may change in
accordance with the terms of the previously disclosed merger agreement
between On Command and Liberty Media.
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