LIBERTY MEDIA CORPORATION INVESTMENT SUMMARY (As of September 1, 2011)

Liberty Media Corporation is a holding company that owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to three tracking stock groups: Liberty Capital, Liberty Interactive, and Liberty Starz.

The following table sets forth some of Liberty Media’s major assets that are held directly and indirectly through partnerships, joint ventures, common stock investments and instruments convertible into common stock. Ownership percentages in the table are approximate and, where applicable, assume conversion to common stock by Liberty Media and, to the extent known by Liberty Media, other holders. In some cases, Liberty Media’s interest may be subject to buy/sell procedures, repurchase rights or dilution.

LIBERTY CAPITAL

ENTITY DESCRIPTION OF ATTRIBUTED OWNERSHIP OPERATING BUSINESS AOL Inc. Global Web services company 1%1 (NYSE: AOL) with a suite of brands and offerings. The company’s business spans online content, products and services that it offers to consumers, publishers and advertisers. Atlanta National League Baseball Owner of the Atlanta Braves, a 100% Club, Inc. major league baseball club, as well as certain of the Atlanta Braves' minor league clubs. Barnes & Noble The world's largest bookseller 17% (NYSE: BKS and a Fortune 500 company, operates bookstores in 50 states and conducts its online business through BN.com (www.bn.com), one of the Web's largest e- commerce sites, which also features more than two million titles in its NOOK Bookstore™. CenturyLink, Inc. Leading provider of high-quality 1% (NYSE: CTL) voice, broadband and video services over its advanced communications networks to consumers and businesses in 33 states. Crown Media Holdings, Inc. Owns and operates cable 3% (NASDAQ: CRWN) television channels in the U.S. dedicated to high-quality, broad appeal, entertainment programming. Current Group, LLC Provider of Broadband over 8%2 Powerline (BPL) solutions and services to electric distribution companies.

Jingle Networks, Inc. Operator of the advertiser- 9%3 supported 1.800.FREE411 service which allows callers to obtain residential, business and government telephone numbers for no charge. Kroenke Arena Company, LLC Owner of the Pepsi Center, a 7% sports and entertainment facility in Denver, Colorado. Leisure Arts, Inc. Publisher and marketer of 100% needlework, craft, decorating, entertaining and other lifestyle interest "how-to" books. Live Nation Entertainment, Inc. Largest live entertainment 21% (NYSE: LYV) company in the world, consisting of five businesses: concert promotion and venue operations, sponsorship, ticketing solutions, eCommerce and artist management. MacNeil/Lehrer Productions Producer of The PBS NewsHour 67% in addition to documentaries, web sites, interactive DVDs, civic engagement projects and educational programs. Mobile Streams Global mobile content retailer 16% (LSE: MOS) that retails a wide range of mobile content including full-track downloads, truetones, polyphonic ringtones, videos, graphics and games. Motorola Mobility, Inc. Fuses innovative technology with 2% (NYSE: MMI) human insights to create experiences that simplify, connect and enrich people's lives. Motorola Solutions, Inc. Leading provider of mission- 2% (NYSE: MSI) critical communication products and services for enterprise and government customers. priceline.com Incorporated An online travel company, which 1% (NASDAQ: PCLN) offers a range of travel services, including hotel rooms, car rentals, airline tickets, vacation packages, cruises and destination services. Sirius XM Radio Inc. America's satellite radio company 40% (NASDAQ: SIRI) delivering commercial-free music channels, premier sports, news, talk, entertainment, traffic and weather to more than 20.6 million subscribers. Sprint Nextel Corporation Provider of a comprehensive 2% (NYSE: S) range of communications services bringing mobility to consumer, business and government customers.

Time Warner Cable Inc. The second-largest cable operator 1%4 (NYSE: TWC) in the U.S. who offers residential and commercial video, high- speed data and voice services over its broadband cable systems. Time Warner Inc. Media and entertainment 1%5 (NYSE: TWX) company whose businesses include filmed entertainment, interactive services, television networks, cable systems, music and publishing. TruePosition, Inc. Leading provider of mission- 100% critical location-based solutions for the public safety and national security markets worldwide. Viacom Inc. Global media company, with 1% (NYSE: VIA) positions in cable television, motion picture, Internet, mobile, and video game platforms. Brands include MTV, Nickelodeon, Nick at Nite, VH1, BET, Paramount Pictures, Viacom Outdoor, UPN, TV Land, Comedy Central, CMT: Country Music Television, and Spike TV.

LIBERTY INTERACTIVE

ENTITY DESCRIPTION OF ATTRIBUTED OWNERSHIP OPERATING BUSINESS AOL Inc. Global Web services company 2%6 (NYSE: AOL) with a suite of brands and offerings. The company’s business spans online content, products and services that it offers to consumers, publishers and advertisers. Backcountry.com, Inc. eCommerce business that sells 81% performance gear for backcountry adventures, including backpacking, climbing, skiing, snowboarding, trail running and adventure travel. Backcountry.com also operates BackcountryOutlet.com, Dogfunk.com, Tramdock.com, SteepandCheap.com and WhiskeyMilitia.com. Bodybuilding.com eCommerce business that sells 83% supplements, clothing, tanning supplies, accessories and other bodybuilding products as well as hosts an online site where visitors can network and exchange information related to

bodybuilding. Borba, LLC Provider of full range of 25% nutraceutical and cosmeceutical products. Celebrate Interactive Leading catalog and online 100% retailer of party supplies and costumes. CommerceHub Industry’s leading provider of 100% integration and fulfillment solutions for multi-channel eCommerce merchants. The leading online invitation and 100% social event planning service on the web. Expedia, Inc. Empowers business and leisure 25%7 (NASDAQ: EXPE) travelers with the tools and information needed to research, plan, book and experience travel. It also provides wholesale travel to offline retail travel agents. Expedia's main companies include: Expedia.com, Hotels.com, Hotwire, Expedia Corporate Travel, TripAdvisor and Classic Vacations. Expedia's companies operate internationally in Canada, the UK, Germany, France, Italy, the Netherlands and China. Gifts.com The #1 gift recommendation site, 100% offering consumers great gift ideas and interactive, personalized shopping services that enable them to become better, more organized gift- givers. HSN, Inc. A retailer and interactive lifestyle 32% (NASDAQ: HSNI) network offering an assortment of products through television home shopping programming on HSN television network and HSN.com. Interval Leisure Group, Inc. Provider of membership services 29% (NASDAQ: IILG) to the vacation ownership industry. Liberty Advertising An online advertising sales 100% organization LOCKERZ Aims to be the destination for 41% generation Z where commerce, content, and community converge. Provide Commerce, Inc. eCommerce marketplace 100% company providing a collection of branded websites each offering high quality, perishable products shipped directly from the supplier

to the consumer and designed specifically around the way consumers shop. Comprised of Cherry Moon Farms, ProFlowers, Red Envelope, and Shari’s Berries. QVC, Inc. Markets and sells a wide variety 100% of consumer products in the U.S. and several foreign countries, primarily by means of televised shopping programs on the QVC television networks and via the Internet through its domestic and international websites. The Right Start eCommerce and traditional 100% retailer of premium baby gear and products that offers parents a carefully selected assortment of the best products for their babies including travel gear, feeding products, décor and toys. Time Warner Cable Inc. The second-largest cable operator 2%8 (NYSE: TWC) in the U.S. who offers residential and commercial video, high- speed data and voice services over its broadband cable systems. Time Warner Inc. Media and entertainment 2%9 (NYSE: TWX) company whose businesses include filmed entertainment, interactive services, television networks, cable systems, music and publishing. Tree.com, Inc. (Lending Tree) An online lending and real estate 25% (NASDAQ: TREE) business which matches consumers with lenders and loan brokers.

LIBERTY STARZ

ENTITY DESCRIPTION OF ATTRIBUTED OWNERSHIP OPERATING BUSINESS Starz, LLC Provider of video programming 100% distributed by cable operators, direct-to-home satellite providers, other distributors and via the Internet throughout the United States.

1 In addition to its approximate 1% equity interest in AOL Inc. attributed to Liberty Capital, Liberty Media also owns an approximate 2% of AOL Inc. equity attributed to Liberty Interactive.

2 Liberty Media owns interests in Current Group, LLC through two different partnerships, Liberty Associated Partners and Associated Partners.

3 Liberty Media owns interests in Jingle Networks, Inc. through two different partnerships, Liberty Associated Partners and Associated Partners.

4 In addition to its approximate 1% equity interest in Time Warner Cable Inc. attributed to Liberty Capital, Liberty Media also owns an approximate 2% of Time Warner Cable Inc. equity attributed to Liberty Interactive.

5 In addition to its approximate 1% equity interest in Time Warner Inc. attributed to Liberty Capital, Liberty Media also owns an approximate 2% of Time Warner Inc. equity attributed to Liberty Interactive.

6 In addition to its approximate 2% equity interest in AOL Inc. attributed to Liberty Interactive, Liberty Media also owns an approximate 1% of AOL Inc. equity attributed to Liberty Capital.

7 Liberty Media owns approximate 25% of Expedia common stock representing an approximate 59% voting interest; however, the Chairman and CEO of Expedia currently has the authority to vote these shares.

8 In addition to its approximate 2% equity interest in Time Warner Cable Inc. attributed to Liberty Interactive, Liberty Media also owns an approximate 1% of Time Warner Cable Inc. equity attributed to Liberty Capital.

9 In addition to its approximate 2% equity interest in Time Warner Inc. attributed to Liberty Interactive, Liberty Media also owns an approximate 1% of Time Warner Inc. equity attributed to Liberty Capital.