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News Release

Charter Communications, Inc. Announces Second Quarter 2000 Financial Results; Increases in Revenue, Operating Cash Flow, and Customers Continue

ST. LOUIS--(BUSINESS WIRE)--Aug. 2, 2000--Charter Communications, Inc. (Nasdaq:CHTR) today reported increases in revenue, operating cash flow, and customers for the three months ended June 30, 2000.

Revenue grew 9.8% to $794.8 million and operating cash flow increased 16.4% to $373.2 million for the second quarter of 2000 compared to the pro forma results for the second quarter of 1999. For those cable systems owned or managed by Charter during the second quarter of both 2000 and 1999, revenue and operating cash flow grew 12.8% and 15.6%, respectively, and customer growth was 2.3% over the year-ago period. As of June 30, 2000, Charter served 6,214,100 basic cable customers, an increase of 1.7% compared to the pro forma customer level of 6,110,100 as of June 30, 1999.

"I'm pleased to report continued outstanding financial performance and customer growth. Our results clearly indicate that we continue to outpace the industry with effective sales, marketing, customer care and operating strategies. During the second quarter, we added over 40,000 basic customers through internal growth, more than doubling our first quarter growth. And with the addition of some 150,000 Charter Digital Cable(TM) customers during the quarter, 375,000 customers are now enjoying the benefits of this exciting technology, exceeding our original estimates and those of Wall Street analysts," said Jerry Kent, President and CEO of Charter. "We also continue to see outstanding growth in the deployment of Charter Pipeline(TM), our high-speed Internet access service, and now serve 149,300 data customers, an increase of more than 20% from the previous quarter."

To ensure continued growth in the deployment of advanced services, Mr. Kent said Charter has accelerated its upgrade and rebuild program throughout the company. Under the accelerated program, 70% of Charter's cable systems will be upgraded by the end of the year, with completion by the end of 2002. "When fully upgraded, Charter will have one of the most robust broadband networks in the nation," he said. "This is necessary to support our planned rollout of interactive services, including DIVA's video-on-demand service, and our DIGEO broadband portal in partnership with DIGEO BROADBAND, INC. These services and more offer just a glimpse of our Wired World(TM) vision."

In announcing first quarter 2000 results, Mr. Kent indicated that Charter's quarterly operating cash flow growth would accelerate throughout the year. "Today's second quarter results clearly demonstrate an acceleration in operating cash flow growth. The synergies we've achieved through the successful integration of last year's acquisitions were a key driver of this growth. Second quarter operating cash flow increased 16.4% compared to 10.8% growth in the first quarter, and I look forward to accelerating the rate of operating cash flow growth for the balance of the year," he said.

Mr. Kent said the successful integration of the acquisitions, as evidenced by stellar operating cash flow growth, will allow Charter's strategic focus to concentrate on the next phases of growth: rebuilding and upgrading infrastructure, and accelerating the deployment of advanced digital, data and interactive services.

With more than 6.2 million customers, Charter Communications, a Wired World(TM) company, is among the nation's largest broadband communications companies. Charter offers an array of advanced broadband services, 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's Class A common stock is traded on the Nasdaq National Market under the ticker symbol "CHTR." More information about Charter can be found on the Internet at www.chartercom.com.

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.

                     Charter Communications, Inc.
                    Consolidated Operating Results
                        (Dollars in thousands)

                                      Three Months Ended June 30
                                      --------------------------
                                          Actual   Pro Forma(a)
                                           2000       1999     % Change
                                         --------   --------   --------
                                             (Unaudited)
Revenues:
 Basic                                   $569,197   $525,694
 Premium                                   58,194     58,657
 Pay-per-view                               8,796     10,875
 Digital                                   15,066        896
 Data                                      13,626      4,465
 Advertising sales                         41,794     32,565
 Other                                     88,107     90,895
                                         --------   --------
  Total revenues                          794,780    724,047      9.8%
                                         --------   --------

Operating Expenses:
 Programming                              181,635    169,239
 General and administrative               134,217    123,707
 Service                                   46,594     46,658
 Marketing                                 17,644     17,892
 Advertising sales                         14,271     10,520
 Other                                     12,183      6,600
 Corporate expense charge - related party  15,007     28,904
                                         --------   --------
  Total operating expenses                421,551    403,520      4.5%
                                         --------   --------

                                         --------   --------
  Operating cash flow                    $373,229   $320,527     16.4%
                                         ========   ========

    (a) The pro forma results for the three months ended June 30, 1999
        reflect: the eleven acquisitions of cable systems completed
        during 1999, all acquisitions closed through June 30, 2000,
        including the Bresnan acquisition, and the issuance of notes
        by Charter Communications Holdings in January 2000.


                     Charter Communications, Inc.
                    Summary of Operating Statistics

Cable Television                Actual   Pro Forma(a)   Actual
----------------              ----------   ---------   ---------
                               June 30,   December 31,  June 30,
                                 2000        1999        1999
                              ----------   ---------   ---------
Homes Passed                  10,006,700   9,914,000   4,509,000
Basic Customers                6,214,100   6,144,600   2,734,000
Basic Penetration                   62.1%       62.0%       60.6%
Premium Subscriptions          3,297,000   3,114,400   1,676,000
Premium Penetration                 53.1%       50.7%       61.3%
Average Monthly Revenue
 per Basic Customer (quarter)    $ 42.63     $ 41.12     $ 37.56
----------------------------------------------------------------

Digital Video                    Actual  Pro Forma(a)    Actual
-------------                  ---------   ---------     -------
                                June 30,  December 31,  June 30,
                                 2000        1999         1999
                               ---------   ---------     -------
Digital Homes Passed           6,528,100   4,675,000     330,000
Customers                        375,000     155,400      10,900
Penetration                          5.7%        3.3%        3.3%
Digital Converters Deployed      456,100     176,600      12,400
----------------------------------------------------------------

Data                            Actual   Pro Forma(a)   Actual
----                           ---------   ---------   ---------
                               June 30,  December 31,   June 30,
                                 2000        1999        1999
                               ---------   ---------   ---------
Data Homes Passed              5,201,700   4,422,000   1,450,700
Customers                        149,300      84,400      13,500
Penetration                          2.9%        1.9%        0.9%
----------------------------------------------------------------

Television-Based Internet Access  Actual  Pro Forma(a)   Actual
-------------------------------- -------     -------     -------
                                June 30,  December 31,   June 30,
                                  2000        1999        1999
                                 -------     -------     -------
Television-Based Internet
 Homes Passed                    429,000     429,000     245,200
Customers                          7,200       7,100       4,300
Penetration                          1.7%        1.7%        1.8%
----------------------------------------------------------------

Other Statistics                Actual   Pro Forma(a)   Actual
----------------               ---------   ---------   ---------
                               June 30,  December 31,   June 30,
                                 2000        1999        1999
                               ---------   ---------   ---------
For the quarter ended

 Capital Expenditures
  (in 000's)                   $ 765,614   $ 427,676   $ 150,597

As of

 Book Value per Share            $ 12.17     $ 13.82         N/A
----------------------------------------------------------------

    (a) The pro forma statistics as of December 31, 1999 reflect all
        acquisitions closed since this date, including Bresnan
        Communications in February 2000.


                     Charter Communications, Inc.
                 Consolidated Statement of Operations
             (Dollars in thousands, except per share data)

                                         Periods Ended June 30, 2000
                                        ------------    ------------
                                        Three Months     Six Months
                                        ------------    ------------
                                                 (Unaudited)
Revenues:
  Basic                                 $    569,197    $  1,093,744
  Premium                                     58,194         113,967
  Pay-per-view                                 8,796          16,027
  Digital                                     15,066          24,262
  Data                                        13,626          23,338
  Advertising sales                           41,794          75,072
  Other                                       88,107         169,974
                                        ------------    ------------
    Total revenues                           794,780       1,516,384
                                        ------------    ------------

Operating Expenses:
  Programming                                181,635         346,460
  General and administrative                 134,217         259,509
  Service                                     46,594          93,685
  Marketing                                   17,644          29,337
  Other                                       26,454          49,322
  Corporate expense charge
    - related party                           15,007          27,515
                                        ------------    ------------
    Total operating expenses                 421,551         805,828
                                        ------------    ------------

      Operating cash flow                    373,229         710,556

Depreciation                                 296,912         549,788
Amortization                                 306,775         599,999
Option compensation expense                   10,589          26,089
Interest, net                                250,453         475,932
Other, net                                     2,636           2,504
                                        ------------    ------------
                                            (494,136)       (943,756)

Minority Interest in Loss of Subsidiary      297,315         566,221
                                        ------------    ------------
Net Loss                                $   (196,821)   $   (377,535)
                                        ============    ============

Basic and Diluted Loss per Share        $      (0.89)   $      (1.70)
                                        ============    ============

Weighted Average Common Shares
  Outstanding                            222,089,746     222,003,415
                                        ============    ============


                  Charter Communications, Inc.
                   Consolidated Balance Sheets

           (Dollars in thousands, except per share data)

                                          Actual         Pro Forma(a)
                                       June 30, 2000   December 31, 1999
                                       -------------   -----------------
                                               (Unaudited)
ASSETS
Current Assets:
    Cash and cash equivalents          $     74,021    $    127,508
    Accounts receivable, less
     allowance for doubtful
     accounts                               122,869         102,934
    Prepaid expenses and other               38,838          35,279
                                       ------------    ------------
       Total current assets                 235,728         265,721
                                       ------------    ------------

Investment in Cable Properties:
    Property, plant and equipment,
     net of accumulated
     depreciation of $681,866
     and $474,885, respectively           4,233,878       3,856,634
    Franchises, net of accumulated
     amortization of $1,262,944
     and $940,201, respectively          17,338,243      17,748,048
                                       ------------    ------------
       Total investment in
        cable properties                 21,572,121      21,604,682

Other Assets                                217,308         279,672
                                       ------------    ------------

                                       $ 22,025,157    $ 22,150,075
                                       ============    ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
    Accounts payable and
     accrued expenses                  $  1,017,330    $    671,706
    Payables to related
     party                                    2,751          13,259
                                       ------------    ------------
         Total current liabilities        1,020,081         684,965
                                       ------------    ------------

Long-Term Debt                           11,605,328      11,130,886
                                       ------------    ------------

Deferred Management
 Fees - Related Party                        13,751          21,623
                                       ------------    ------------

Other Long-Term Liabilities                 147,370         155,144
                                       ------------    ------------

Minority Interest                         4,689,263       5,242,114
                                       ------------    ------------

Redeemable Securities                     1,846,176       1,846,176
                                       ------------    ------------

Shareholders' Equity:
    Class A common stock; $.001 par
     value; 1.75 billion shares
     authorized; 222,039,746 shares
     issued and outstanding                     195             195
    Class B common stock; $.001
     par value; 750 million shares
     authorized; 50,000 shares
     issued and outstanding                      --              --
    Preferred stock; $.001 par
     value; 250 million shares
     authorized; no shares issued
     and outstanding                             --              --
    Additional paid-in capital            3,145,798       3,133,782
    Accumulated deficit                    (443,766)        (66,231)
    Accumulated other comprehensive
     income                                     961           1,421
                                       ------------    ------------
         Total shareholders' equity       2,703,188       3,069,167
                                       ------------    ------------

                                       $ 22,025,157    $ 22,150,075
                                       ============    ============

    (a) The consolidated pro forma balance sheet as of December 31,
        1999 reflects acquisitions closed since this date, including
        the acquisition of Bresnan Communications in February 2000.


                     Charter Communications, Inc.
                         "Same Store" Results
                        (Dollars in thousands)


Operating Results                 Three Months Ended June 30
                                  --------------------------
                                    2000              1999    % Change
                                    ----              ----     --------
                                          (Unaudited)
Revenues:
     Basic                        $211,975          $193,615
     Premium                        24,046            24,655
     Pay-per-view                    4,117             5,098
     Digital                         7,969               474
     Data                            5,021             1,409
     Advertising sales              17,855            13,664
     Other                          39,559            36,358
                                  --------          --------
        Total revenues             310,542           275,273     12.8%
                                  --------          --------

Operating Expenses:
     Programming                    70,499            63,696
     General and administrative     52,243            48,297
     Service                        16,555            17,590
     Marketing                       6,586             6,911
     Advertising sales               5,494             3,136
     Other                           5,059             2,333
                                  --------           -------

        Total operating expenses   156,436           141,963     10.2%
                                  --------           -------

        System operating cash
          flow                    $154,106          $133,310     15.6%
                                  ========          ========


Operating Data                 June 30, 2000     June 30, 1999
                               -------------     -------------
                                         (Unaudited)

Homes Passed                     3,895,600         3,820,100
Basic Customers                  2,268,400         2,216,800      2.3%
Basic Penetration                     58.2%             58.0%
Premium Subscriptions            1,428,800         1,388,800
Digital Video Customers            212,900            10,900
Data Customers                      74,800            13,500
Average Monthly Revenue
  per Basic Customer               $ 45.63           $ 41.39     10.2%

Note: The above "same store" information presents operating results and data for the second quarter of 2000 as compared to the second quarter of 1999 for the cable systems owned or managed by Charter Communications as of April 1, 1999.

CONTACT:
Charter Communications Inc., St. Louis
Anita Lamont, 314/543-2215 (Media)
alamont@chartercom.com
Andy Morgan, 314/543-2217
Amorgan@chartercom.com
or
Kevin Picha, 314/543-2218 (Analysts and Investors)
kpicha@chartercom.com