Time Warner Cable Completes Sale of Cable Systems in Four Municipalities in Greater Charlotte Area

Business Wire, Dec 20, 2007

Consortium to Assume Operation and Management

NEW YORK -- Time Warner Cable Inc. (NYSE:TWC) today announced the completion of its sale of cable systems representing approximately 14,300 basic video subscribers in Mecklenburg County and the towns of Mooresville, Davidson and Cornelius in North Carolina to an inter-local agency, MI-Connection Communications System, formed by those jurisdictions. The purchase price was approximately $51 million.

MI-Connection Communications System, representing local governments in Mecklenburg and Iredell counties, exercised their right of first refusal under their local franchise agreements after these cable systems were acquired from Adelphia Communications Corporation by Time Warner Cable last year. Two other municipalities which had similar rights of first refusal in their original Adelphia franchise agreements opted not to acquire systems under their jurisdiction.

Time Warner Cable continues to be the primary cable provider in North Carolina and served more than 446,000 basic cable subscribers in the Charlotte area as of September 30, including subscribers now being transferred to MI-Connection. It also operates other divisions in North Carolina, including Raleigh, Greensboro and Wilmington as well as Columbia, SC. Time Warner Cable provides cable service to over 1.9 million basic cable subscribers in both North Carolina and South Carolina.

Time Warner Cable Inc.

Time Warner Cable owns and manages cable systems passing approximately 26 million homes in 33 states. Headquartered in New York City, Time Warner Cable has 14.6 million customers for its various products, including video, high-speed data and residential telephone. This includes approximately 13.3 million basic video subscribers and more than 6.9 million customers who purchase more than one product. Time Warner Cable includes some of the most technologically advanced and best-clustered cable systems in the country, with nearly 85 percent of the Company's customers located in five geographic regions: New York, Texas, Ohio, the Carolinas and southern California. It is the largest cable provider in the nation's two largest cities, Los Angeles and New York. Leveraging its leadership in innovation and quality customer care, Time Warner Cable delivers advanced products and services such as video-on-demand, high-definition television, digital video recorders, high-speed data and Digital Phone.