Charter Communications to Explore Alternatives to Enhance Financial Flexibility

ST. LOUIS--(BUSINESS WIRE)--Dec. 12, 2008--Charter Communications, Inc. (NASDAQ: CHTR) ("Charter") announced today that it has asked its long-standing financial advisor, Lazard LLC, to initiate discussions with the Company's bondholders about financial alternatives to improve the Company's balance sheet.

"We believe engaging in discussions with our bondholders, aimed at improving our capital structure and enhancing our financial flexibility, is in the Company's and our customers' best interests," said Neil Smit, President and Chief Executive Officer. "In the third quarter 2008, revenues increased 7.3%, and net customer additions increased more than 50% year over year. Our objective in these discussions is to improve our balance sheet, which will better position Charter for the future, while we continue to focus on delivering quality service to our customers and growing our business."

Charter noted that its cash on hand and cash equivalents as of December 10, 2008, was in excess of $900 million, which is available to pay operating costs and expenses.

About Charter Communications

Charter Communications, Inc. is a leading broadband communications company and the third-largest publicly traded cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter Digital Cable(R) video entertainment programming, Charter High-Speed(R) Internet access, and Charter Telephone(R). Charter Business(TM) similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, video and music entertainment services, and business telephone. Charter's advertising sales and production services are sold under the Charter Media(R) brand. More information about Charter can be found at www.charter.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the Securities and Exchange Commission ("SEC"). Many of the forward-looking statements contained in this release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "plans," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity" and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this release are set forth in other reports or documents that we file from time to time with the SEC, including our quarterly reports on Form 10-Q filed in 2008 and our most recent annual report on Form 10-K and include, but are not limited to:

    --  the availability and access, in general, of funds to meet interest
        payment obligations under our debt and to fund our operations and
        necessary capital expenditures, either through cash on hand, cash flows
        from operating activities, further borrowings or other sources and, in
        particular, our ability to fund debt obligations (by dividend,
        investment or otherwise) to the applicable obligor of such debt;
    --  our ability to comply with all covenants in our indentures and credit
        facilities, any violation of which, if not cured in a timely manner,
        could trigger a default of our other obligations under cross-default
        provisions;
    --  our ability to repay debt prior to or when it becomes due and/or
        successfully access the capital or credit markets to refinance that debt
        through new issuances, exchange offers or otherwise, including
        restructuring our balance sheet and leverage position, especially given
        recent volatility and disruption in the capital and credit markets;
    --  the impact of competition from other distributors, including incumbent
        telephone companies, direct broadcast satellite operators, wireless
        broadband providers, and digital subscriber line ("DSL") providers;
    --  difficulties in growing, further introducing, and operating our
        telephone services, while adequately meeting customer expectations for
        the reliability of voice services;
    --  our ability to adequately meet demand for installations and customer
        service;
    --  our ability to sustain and grow revenues and cash flows from operating
        activities by offering video, high-speed Internet, telephone and other
        services, and to maintain and grow our customer base, particularly in
        the face of increasingly aggressive competition;
    --  our ability to obtain programming at reasonable prices or to adequately
        raise prices to offset the effects of higher programming costs;
    --  the outcome of our discussions with our bondholders;
    --  general business conditions, economic uncertainty or downturn, including
        the recent volatility and disruption in the capital and credit markets
        and the significant downturn in the housing sector and overall economy;
        and
    --  the effects of governmental regulation on our business.

All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. We are under no duty or obligation to update any of the forward-looking statements after the date of this release.

CONTACT:
Charter Communications, Inc.
Anita Lamont, 314-543-2215