important step toward the realization of our Wired World(TM) vision, where
cable's ability to transmit voice, video and data at high speeds will enable it
to serve as the primary platform for the delivery of new services to the home
and workplace. We are accelerating the upgrade of our systems to more quickly
provide these new services.
We have grown rapidly over the past five years. During this period, our
management team has successfully completed 28 acquisitions, including eight
acquisitions closed in 1999. We have also expanded our customer base through
significant internal growth. In 1998, our internal customer growth, without
giving effect to the cable systems we acquired in that year, was 4.8%, more than
twice the national industry average of 1.7%.
Paul G. Allen, through his ownership of Charter Communications, Inc.'s high
vote Class B common stock and his indirect ownership of Charter Communications
Holding Company membership units, will control approximately 95% of the voting
power of all of Charter Communications, Inc.'s capital stock immediately
following the offering. As a result, Mr. Allen will control Charter
Communications, Inc. and, accordingly, Charter Communications Holding Company
and its direct and indirect subsidiaries.
Our principal executive offices are located at 12444 Powerscourt Drive, St.
Louis, Missouri 63131. Our telephone number is (314) 965-0555 and our web site
is located at www.chartercom.com. The information on our web site is not part of