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InvestorsNovember 11, 1999

Charter Communications, Inc. Sells Additional 25,500,000 Shares in Offering

Share Article:

ST. LOUIS--(BUSINESS WIRE)--Nov. 11, 1999--Charter Communications, Inc.(Nasdaq: CHTR) announced today that Goldman, Sachs & Co., lead manager for the company's initial public offering, has exercised on behalf of the underwriters, their option to purchase an additional 25,500,000 shares to cover over-allotments.

The gross proceeds from the initial public offering, including the exercise of the underwriters' over-allotment options, total more than $3.7 billion for the company, which will use the funds to finance acquisitions. Underwriters for the offering include Bear, Stearns & Co. Inc., Morgan Stanley Dean Witter, Donaldson Lufkin & Jenrette, Merrill Lynch & Co., Salomon Smith Barney, A.G. Edwards & Sons, Inc., and M.R. Beal & Company. Charter commenced trading Class A common stock on the Nasdaq National Market under the ticker symbol "CHTR."

Charter Communications, Inc. is the fourth-largest operator of cable television systems in the United States, serving approximately 6.2 million customers, after giving effect to pending acquisitions. Charter currently serves approximately 3.7 million customers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.