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News Release

Charter Communications, Inc. Announces Fourth Quarter Financial Results for 1999

ST. LOUIS--(BUSINESS WIRE)--Feb. 16, 2000--Charter Communications, Inc. (Nasdaq:CHTR) announced today financial results for the three months and the year ended December 31, 1999.

"Charter Communications ended 1999 with strong fourth quarter operating results and the company is in an excellent position to carry that momentum into 2000," said Jerald L. Kent, President and CEO of Charter. "We continued to generate double-digit cash flow growth and once again will be among the industry leaders in internal customer growth." Charter reported that pro forma fourth quarter revenues and adjusted EBITDA were $763.1 million and $370.3 million, respectively, which were in line with expectations. Further, fourth quarter revenues and adjusted EBITDA grew 9.9% and 12.3%, respectively, and internal customer growth was 3.1% over the year-ago period for those cable systems owned or managed by Charter during the comparable periods.

"A key contributor to our growth was the successful rollout of new products and services such as digital video and high-speed Internet offerings," said Kent. "By year-end 1999, pro forma for the recently completed Bresnan Communications acquisition, we increased the number of digital video customers to approximately 155,000 and increased the number of high-speed data customers to approximately 66,000, both of which significantly exceeded our expectations. We will continue to aggressively launch these new services during 2000 so that by year-end, we will be able to offer digital video to over 70% of our customers and high-speed data to over 60% of our customers. Our marketing and execution efforts have been rewarded and we believe that we can exceed our anticipated new service penetration levels in 2000 without negatively affecting our expected operating cash flow." Charter served approximately 6,138,000 basic cable customers at December 31, 1999, pro forma to include the Bresnan customers.

"The past twelve months have been a dynamic period of growth for Charter. We successfully integrated the operations of Marcus Cable, as evidenced by the dramatic improvement in the performance of these systems since we took over their management. In addition, we announced and completed a dozen acquisitions representing 3.8 million customers at a cost of approximately $14 billion, completed the third largest high-yield bond offering in history and raised $3.7 billion in one of the largest IPOs ever," Kent said. He continued, "While our transactions generate the headlines, I am even more proud that we were able to maintain our focus on operations during this period. We exceeded our expectations in our core holdings while continuing to integrate each acquisition into the Charter style of management."


The pro forma 1999 results discussed below reflect the merger of the Marcus Cable systems, the eleven acquisitions of cable systems completed during 1999, the Bresnan Communications acquisition completed in February 2000 and the issuance of senior notes in January 2000. All transactions are treated as if they had occurred on January 1, 1999. -0-


                     Charter Communications, Inc.
             Pro Forma Statement of Operations (Unaudited)
                 For the Year Ended December 31, 1999
                     (Dollar amounts in millions)

     Basic                        $  2,112.9
     Premium                           262.7

     Pay-per-view                       52.0
     Advertising sales                 130.6
     Digital                            18.6
     Cable modem                        20.3
     Other                             328.6

       Total revenues             $  2,925.7
Operating Expenses:
     Programming                       733.4
     General and administrative        462.7
     Service                           160.3
     Marketing                          66.8
     Other operating expenses           77.7
       Total operating expenses   $  1,500.9
Adjusted EBITDA                      1,424.8

Corporate Expense Charges              109.5
Management Fee Expense                  14.7
Stock Option Compensation Expense       80.0
Other Expense                            1.5
EBITDA                            $  1,219.1

        Pro Forma Balance Sheet and Operating Data (Unaudited)
                        As of December 31, 1999
                     (Dollar amounts in millions)

Long-Term Debt                                              $   11,025
Homes Passed                                                 9,852,800
Basic Customers                                              6,138,200
Premium Subscriptions                                        3,144,400
Digital Video Customers                                        155,400
Cable Modem Customers                                           65,600

     Pro forma revenues and adjusted EBITDA for 1999, by quarter, are
detailed as follows:

                           Basic                      Adjusted
Three Months Ended       Customers(a)    Revenues      EBITDA
------------------       -----------     --------      ------

December 31, 1998         6,032,500
March 31, 1999            6,050,500     $  711.2     $  346.0
June 30, 1999             6,104,000        720.9        348.1
September 30, 1999        6,122,700        730.5        360.4
December 31, 1999         6,138,200        763.1        370.3
                                        --------     --------

Total                                   $2,925.7     $1,424.8

                                        ========     ========

(a)  Basic customers, as previously reported, have been adjusted as a
     result of applying standard cable industry methodology to
     calculate equivalent bulk subscribers for certain of the cable
     systems acquired during the fourth quarter of 1999.


     The following information presents the operating results for the

fourth quarter of 1999 as compared to the fourth quarter of 1998 for the cable systems owned or managed as of October 1, 1998. For this analysis, the results of the Marcus Cable systems are included as Charter began managing these systems on October 6, 1998. -0-


                     Charter Communications, Inc.
        Statements of Operations and Operating Data (Unaudited)
           (Dollar amounts in millions, except per customer)

                                 Three Months          Three Months
                                    Ended                 Ended
                               December 31, 1999     December 31, 1998
                               -----------------     -----------------
 Basic                            $    203.6            $    187.5
 Premium                                25.1                  25.7
 Pay-per-view                            5.3                   4.5
 Advertising sales                      13.7                   9.6
 Digital                                 2.3                   0.1
 Cable modem                             2.6                   0.7
 Other                                  38.3                  36.6
                                  ----------            ----------
  Total revenues                       290.9                 264.7
                                  ----------            ----------
Operating Expenses:
 Programming                            67.0                  60.9
 General and administrative             53.3                  48.4
 Service                                17.9                  20.7
 Marketing                               3.4                   3.9
 Other operating expenses                7.6                   4.6
                                  ----------            ----------
  Total operating expenses             149.2                 138.5
                                  ----------            ----------
Adjusted EBITDA                   $    141.7            $    126.2
                                  ==========            ==========
Homes Passed                       3,863,400             3,786,300
Basic Customers                    2,274,000             2,205,500
Basic Penetration                       58.9%                 58.2%
Premium Subscriptions              1,398,800             1,232,500
Digital Video Customers               53,900                   460
Cable Modem Customers                 30,000                 4,900
Average Monthly Revenue
 per Customer                     $    42.64            $    40.01

     Revenues increased by $26.2 million or 9.9% when comparing the

revenues for the three months ended December 31, 1999 to the results for the comparable systems for the three months ended December 31, 1998. This increase is due to a net gain of approximately 68,500 or 3.1% basic customers between quarters and retail rate increases implemented in certain of the Company's systems. The net gain of 3.1% for basic customer growth between the comparable periods was the weighted average of 3.6% customer growth from the Charter systems and 2.4% growth experienced by the Marcus Cable systems. In addition, the Company has increased its ratio of premium subscriptions to basic customers from 0.56 to 1.00 to 0.62 to 1.00 as a result of marketing multiple premium subscriptions in a packaged format at a discounted retail rate.

Total operating expenses increased approximately $10.7 million or 7.7% when comparing the operating expenses for the quarter ended December 31, 1999 to the results for the same systems for the quarter ended December 31, 1998. This increase is primarily due to increases in license fees paid for programming as a result of additional subscribers, new channels launched and increases in the rates paid for programming services. The Company believes that the increases in programming expense are consistent with industry-wide increases.

The Company experienced growth in adjusted EBITDA of approximately $15.5 million or 12.3% when comparing adjusted EBITDA for the quarter ended December 31, 1999 to the results for the same systems for the quarter ended December 31, 1999. Adjusted EBITDA margin increased from 47.7% to 48.7% when comparing the similar periods.


Charter offers its customers a full array of traditional cable television services and we have begun to offer advanced high bandwidth services such as high-speed Internet access. We plan to continually enhance and upgrade these services, including adding new programming and other telecommunications services.

Charter is in the process of introducing a variety of new or expanded products and services beyond the traditional offerings of analog television programming for the benefit of both our residential and commercial customers. These new products and services are as follows:

-- Digital television and its related enhancements;

-- High-speed Internet access via cable modems;

-- Internet access through television-based service;

-- Dial-up Internet access; and

-- Interactive programming.

The following statistics for homes passed and number of customers is pro forma to include the merger of the Marcus Cable systems, the eleven acquisitions of cable systems completed during 1999 and the Bresnan acquisition completed in February 2000. All transactions are treated as if they had occurred on January 1, 1999. -0-


                                   Dec. 31,    Sept. 30,     June 30,
                                     1999         1999         1999
Digital Video                     ---------    ---------    ---------
Homes Passed                      4,675,000    2,965,000    2,063,000
Digital Customers                   155,400      113,700       86,800
Digital Penetration                     3.3%         3.8%         4.2%

Cable Modem-Based Internet Access
Homes Passed                      3,468,000    2,919,000    2,889,000
Cable Modem Customers                65,600       47,900       33,700
Penetration                             1.9%         1.6%         1.2%

Television-Based Internet Access
Homes Passed                        429,000      282,000      245,000
Customers                             7,100        6,200        4,300
Penetration                             1.7%         2.2%         1.8%

Dial-Up Internet Access
Homes Passed                        954,000      774,000      530,000
Customers                            18,800       17,700       16,200
Penetration                             2.0%         2.3%         3.1%

     "Safe Harbor" Statements under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding Charter
Communications' business which are not historical facts are
"forward-looking statements" that involve risks and uncertainties.
These forward-looking statements are subject to risks and

uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's registration statement on Form S-1 filed with the Securities and Exchange Commission.

Charter Communications (Nasdaq:CHTR) is a Wired World(TM) company offering a full range of traditional cable television services. The Company has also begun to offer services including digital cable television, high-speed Internet access and television-based Internet access and is introducing interactive video programming. All of these services are important steps toward the realization of the Wired World 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. Charter is the fourth largest operator of cable television systems in the United States.

For more information about Charter Communications, Inc., visit the Company's web site at

     CONTACT:  Charter Communications Inc., St. Louis
               Ralph G. Kelly, 314/543-2388 (Analysts and Investors)

               Andy Morgan, 314/543-2217 (Media)