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S-4/A
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4/A on 05/28/1999
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                     CABLE MICHIGAN, INC. AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF CASH FLOWS


<TABLE>
<CAPTION>
                                          For the Years
                                        Ended December 31,   For the Period from
                                        -------------------  January 1, 1998 to
                                          1996      1997      November 5, 1998
                                        --------  ---------  -------------------
                                                (dollars in thousands)
<S>                                     <C>       <C>        <C>
Cash flows from operating activities
  Net (loss)..........................  $ (8,256) $  (4,358)      $(10,534)
  Gain on pension
   curtailment/settlement.............      (855)       --             --
  Depreciation and amortization.......    31,427     32,082         28,098
  Deferred income taxes, net..........       988     (4,359)        (3,360)
  Provision for losses on accounts
   receivable.........................       843        826            710
  Gain on sale of Florida cable
   systems............................       --      (2,571)           --
  Increase (decrease) in minority
   interest...........................    (1,151)       (53)            47
  Other non-cash items................     2,274      1,914            --
  Net change in certain assets and
   liabilities, net of business
   acquisitions
    Accounts receivable and customer
     deposits.........................    (1,226)      (617)        (2,054)
    Accounts payable..................     1,365      2,234          2,806
    Accrued expenses..................       125        580             52
    Accrued taxes.....................       (99)        61            868
    Accounts receivable from related
     parties..........................       567      1,549           (230)
    Accounts payable to related
     parties..........................     1,314     (8,300)        (1,217)
    Other, net........................       501       (644)          (158)
                                        --------  ---------       --------
      Net cash provided by operating
       activities.....................    27,817     18,344         15,028
                                        --------  ---------       --------
Cash flows from investing activities
  Additions to property, plant and
   equipment..........................    (9,605)   (14,041)       (18,697)
  Acquisitions, net of cash acquired..       --         (24)           --
  Proceeds from sale of Florida cable
   systems............................       --       3,496            --
  Other...............................       390        560            --
                                        --------  ---------       --------
      Net cash used in investing
       activities.....................    (9,215)   (10,009)       (18,697)
                                        --------  ---------       --------
Cash flows from financing activities
  Issuance of long-term debt..........       --     128,000            --
  Redemption of long-term debt........    (1,500)   (17,430)        (8,000)
  Proceeds from the issuance of common
   stock..............................       --          -             543
  Transfers from CTE..................       --      12,500            --
  Change in affiliate notes, net......   (16,834)  (116,836)           --
  Payments made for debt financing
   costs..............................       --        (647)           --
                                        --------  ---------       --------
      Net cash provided by (used in)
       financing activities...........   (18,334)     5,587         (7,457)
Net increase/(decrease) in cash and
 temporary cash investments...........       268     13,922        (11,126)
Cash and temporary cash investments at
 beginning of year....................     3,029      3,297         17,219
                                        --------  ---------       --------
Cash and temporary cash investments at
 end of year..........................  $  3,297  $  17,219       $  6,093
                                        ========  =========       ========
</TABLE>


  The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                      F-58