ntl Completes the Acquisition of Virgin.net

Business Wire, Nov 8, 2004

LONDON -- ntl Incorporated (NASDAQ: NTLI) today announced that it has completed the acquisition of Virgin Media Group's remaining interests in Virgin Net, together with the remaining interests held by existing and former management. The acquisition will take ntl's ownership of Virgin Net, the joint venture formed by ntl and Virgin in 1996, to 100 per cent.

Virgin.net, is currently the UK's 5th largest Internet Service Provider (ISP) and will continue to trade under the Virgin name. Virgin.net provides the sales, marketing and customer service functions to approximately 590,000 customers and ntl provides back office support and network access for unmetered and pay-as-you-go narrowband services and broadband services.

Simon Duffy, chief executive officer of ntl, said: "We are delighted to have successfully completed the acquisition of Virgin.net. I am confident Virgin.net will accelerate our growth by giving us access to new market segments, thereby complementing our strategy of extending our network through local loop unbundling."

More on ntl

--ntl Incorporated (NASDAQ: NTLI) offers a wide range of communications and entertainment services to residential and business customers throughout the UK and Ireland.

--ntl is the UK's largest cable company and leading broadband supplier with over one million broadband customers and 3 million residential customers.

--ntl's fibre-optic broadband network can service 7.8 million homes in the UK including London, Manchester, Nottingham, Oxford, Cambridge, Cardiff, Glasgow and Belfast.