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InvestorsFebruary 28, 2001

Charter Communications to Acquire St. Louis-Area Cable Systems From AT&T Broadband

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ST. LOUIS--(BUSINESS WIRE)--Feb. 28, 2001--Charter Communications (Nasdaq:CHTR) today announced a definitive agreement with AT&T Broadband to buy certain cable systems, including the AT&T Broadband-owned systems in the St. Louis metropolitan area. The transaction will give Charter an additional 271,000 customers in St. Louis, bringing its total customer base in this area to 511,000.

When completed, this transaction will result in Charter ownership of AT&T Broadband systems in 62 Missouri cities, including the City of St. Louis, Arnold, Clayton, Ferguson, Maryland Heights, St. Ann, St. Charles, St. Peters and University City. In Illinois, current AT&T Broadband systems in 36 communities would also go to Charter, including Alton, Belleville, East St. Louis, Fairview Heights, O'Fallon and Scott Air Force Base.

"This transaction will help deliver the promise of broadband technology and its many benefits to all of the St. Louis metropolitan region," said Jerry Kent, president and CEO of Charter. "Since our founding here in 1993, Charter has grown to become a national leader in the cable industry. Our goal is to make St. Louis the most technologically advanced area in the country."

In the last two years, Charter has invested more than $120 million to upgrade its broad-band network in the St. Louis metro area to a state-of-the-art, two-way system, Mr. Kent said.

"Charter systems in this region are already allowing our customers to experience the power of our state-of-the-art broadband network through services such as Charter Digital Cable(TM) and Charter Pipeline(TM) high-speed Internet service," Mr. Kent said. "When this transaction is completed, Charter will install the network technology in these newly acquired areas necessary to provide the same services we're now providing to our existing customers as well as future services that Charter will offer."

In addition to the St. Louis-area systems, Charter also announced today that it will acquire AT&T cable systems in Nevada and Alabama. Along with the St. Louis-area systems, the transaction would give Charter an additional 578,500 customers nationwide, bringing its total customer base to 6.9 million.

For its systems, AT&T Broadband will receive $1.79 billion comprised of Charter cable systems valued at $249 million serving 62,000 customers in Miami Beach and Sebastian, Fla.; up to $500 million in Charter common stock; and the balance in cash. The transactions are expected to close in the second or third quarter of 2001, subject to certain closing conditions and regulatory review.

Charter Communications, a Wired World(TM) company, is the fourth-largest St. Louis-based company, with market capitalization of $13 billion. With nearly 6.4 million customers, Charter is among the nation's largest broadband communications companies. Charter offers a full range of advanced broadband services to the home, including cable television under the Charter Cable TV brand; advanced digital video programming services under the Charter Digital Cable(TM) brand; and high-speed Internet access via Charter Pipeline(TM). Charter is the 2001 recipient of the Outstanding Corporate Growth Award from the Association for Corporate Growth and the 2000 Innovator Award for Technology from Cablevision Magazine. More information about Charter can be found at

Statements in this press release regarding Charter Communications' business that are not historical facts may be "forward-looking statements." Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from any such forward-looking statements are identified in the reports and documents Charter files from time to time with the U.S. Securities and Exchange Commission.

AT&T Broadband Systems to be Sold to Charter Communications

St. Louis Area

Arnold                     MO
Bellefontaine Neighbors    MO
Bellerive                  MO
Bel-Nor                    MO
Bel-Ridge                  MO
Berkeley                   MO
Beverly Hills              MO
Breckenridge Hills         MO
Brentwood                  MO
Calverton Park             MO
Chesterfield               MO
Clayton                    MO
Cool Valley                MO
Cottleville                MO
Country Club Hills         MO
Creve Coeur                MO
Crystal City               MO
Dardenne Prairie           MO
Dellwood                   MO
DeSoto                     MO
Edmundson                  MO
Ferguson                   MO
Festus                     MO
Flint Hill                 MO
Flordell Hills             MO
Glen Echo Park             MO
Greendale                  MO
Hazelwood                  MO
Herculaneum                MO
Hillsboro                  MO
Hillsdale                  MO
Jefferson County           MO
Jennings                   MO
Lake St. Louis             MO
Maplewood                  MO
Margona Village            MO
Maryland Heights           MO
Moline Acres               MO
Normandy                   MO
Northwoods                 MO
Norwood Court              MO
O'Fallon                   MO
Overland                   MO
Pagedale                   MO
Pasadena Hills             MO
Pasadena Park              MO
Pevely                     MO
Pine Lawn                  MO
Riverview                  MO
St. Ann                    MO
St. Charles                MO
St. Louis                  MO
St. Paul                   MO
St. Peters                 MO
University City            MO
Uplands Parks              MO
Velda Village              MO
Velda Village Hills        MO
Vinita Terrace             MO
Weldon Springs             MO
Weldon Spring Heights      MO
Wentzville                 MO

Albers                     IL
Alorton                    IL
Alton                      IL
Aviston                    IL
Beckmeyer                  IL
Belleville                 IL
Bethalto                   IL
Breese                     IL
Cahokia                    IL
Carlyle                    IL
Caseyville                 IL
Centreville                IL
Clinton                    IL
Damiansville               IL
East Alton                 IL
East St. Louis             IL
Fairview Heights           IL
Freeburg                   IL
Germantown                 IL
Godfrey                    IL
Hartford                   IL
Lebanon                    IL
Madison                    IL
Mascoutah                  IL
New Baden                  IL
O'Fallon                   IL
Roxana                     IL
Scott Air Force Base       IL
Shiloh                     IL
South Roxana               IL
St. Clair                  IL
Stookey                    IL
Summerfield                IL
Swansea                    IL
Trenton                    IL
Wood River                 IL


CONTACT: Charter Communications
Andy Morgan, 314/543-2217