Azteca Holdings to Prepay US$69 Million of Its US$129 Million 12 1/2% Senior Secured Notes Due 2005 Azteca Holdings Reduces Debt by US$113 Million Since July 2003 MEXICO CITY, Nov. 22 /PRNewswire-FirstCall/ -- Azteca Holdings, S.A. de C.V., the controlling shareholder of TV Azteca, S.A. de C.V., one of the two largest producers of Spanish-language television programming in the world, announced today that it will prepay on December 22, 2004, US$69 million of the principal on its US$129 million 12 1/2% senior notes due June 15, 2005. The 2005 senior secured notes are callable at par. Azteca Holdings, the owner of 56.6% of the capital stock of TV Azteca, will receive approximately US$73 million from an upcoming US$130 million distribution to shareholders to be made by TV Azteca as part of an ongoing plan for cash disbursements. The company will use the proceeds to reduce the balance of its indebtedness and to make interest payments on its outstanding debt. By means of the US$69 million prepayment, Azteca Holdings expects to save approximately US$4 million in interest expense that would otherwise accrue on the senior secured notes to be redeemed at final maturity. The prepayment adds to prior debt amortizations made by Azteca Holdings since July 2003 of US$44 million, which together with the newly announced prepayment, will reduce the company's total debt by an aggregate amount of US$113 million, from US$279 million to US$166 million. TV Azteca's board of directors has approved cash disbursements to shareholders for another US$80 million during 2005 under its ongoing distributions plan. Azteca Holdings expects to use its corresponding portion of the proceeds to continue decreasing outstanding debt, further strengthening its capital structure and reducing interest expense. Company Profile Azteca Holdings, S.A. de C.V. is a holding company whose principal asset is 56.6% of the capital stock of TV Azteca, S.A. de C.V. TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating two national television networks in Mexico, Azteca 13 and Azteca 7, through more than 300 owned and operated stations across the country. TV Azteca's affiliates include Azteca America, operator of a broadcast television network focused on the rapidly growing United States Hispanic market; and Todito.com, operator of an Internet portal for North American Spanish speakers. Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Risks that may affect Azteca Holdings are identified in its Form 20-F and other filings with the US Securities and Exchange Commission. DATASOURCE: Azteca Holdings, S.A. de C.V. CONTACT: Hector Romero, +011-5255-1720-0060, or Web site: http://www.tvazteca.com.mx/

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