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S-1
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1 on 07/28/1999
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<PAGE>   575
 
                          FALCON COMMUNICATIONS, L.P.
                   (SUCCESSOR TO FALCON HOLDING GROUP, L.P.)
 
                     CONDENSED CONSOLIDATED BALANCE SHEETS
 

<TABLE>
<CAPTION>
                                                                DECEMBER 31,     MARCH 31,
                                                                   1998*           1999
                                                                ------------    -----------
                                                                                (UNAUDITED)
                                                                  (DOLLARS IN THOUSANDS)
<S>                                                             <C>             <C>
ASSETS:
  Cash and cash equivalents.................................     $   14,284     $   31,345
  Receivables:
  Trade, less allowance of $670,000 and $611,000 for
     possible losses........................................         15,760         18,410
     Affiliates.............................................          2,322          3,200
  Other assets..............................................         16,779         22,457
  Property, plant and equipment, less accumulated
     depreciation and amortization of $320,209,000 and
     $332,868,000...........................................        505,894        519,967
  Franchise cost, less accumulated amortization of
     $226,526,000 and $239,137,000..........................        397,727        387,458
  Goodwill, less accumulated amortization of $25,646,000 and
     $28,259,000............................................        135,308        132,940
  Customer lists and other intangible costs, less
     accumulated amortization of $59,422,000 and
     $78,233,000............................................        333,017        314,148
  Deferred loan costs, less accumulated amortization of
     $2,014,000 and $2,582,000..............................         24,331         23,763
                                                                 ----------     ----------
                                                                 $1,445,422     $1,453,688
                                                                 ==========     ==========
                             LIABILITIES AND PARTNERS' DEFICIT
LIABILITIES:
  Notes payable.............................................     $1,611,353     $1,643,447
  Accounts payable..........................................         10,341          5,979
  Accrued expenses..........................................         83,077         92,594
  Customer deposits and prepayments.........................          2,257          2,452
  Deferred income taxes.....................................          8,664          7,428
  Minority interest.........................................            403            395
                                                                 ----------     ----------
TOTAL LIABILITIES...........................................      1,716,095      1,752,295
                                                                 ----------     ----------
COMMITMENTS AND CONTINGENCIES
REDEEMABLE PARTNERS' EQUITY.................................        133,023        180,228
                                                                 ----------     ----------
PARTNERS' EQUITY (DEFICIT):
  General partner...........................................       (408,369)      (483,238)
  Limited partners..........................................          4,673          4,403
                                                                 ----------     ----------
TOTAL PARTNERS' DEFICIT.....................................       (403,696)      (478,835)
                                                                 ----------     ----------
                                                                 $1,445,422     $1,453,688
                                                                 ==========     ==========
</TABLE>

 
---------------
*As presented in the audited financial statements.
 
     See accompanying notes to condensed consolidated financial statements.
                                      F-431