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Insight Announces Proposed Refinancing of Ohio Debt

New York – July 22, 2003 –

Insight Communications Company, Inc (Nasdaq: ICCI) today announced plans to refinance all of the indebtedness of its Ohio operating subsidiary. The Ohio debt is comprised of $140 million of 10% senior notes due 2006, $55.9 million of 12 7/8% senior discount notes due 2008, and a $22.5 million senior credit facility. The transaction will be accomplished through the refinancing of a $900 million term loan under Insight Midwest's existing credit facility into a new $1.125 billion term loan, increasing the total credit facility size to $1.975 billion.

In addition, in connection with the refinancing plan, Insight Communications anticipates that it will have the opportunity to acquire the outstanding equity of Coaxial Communications and satisfy Insight's related put obligation to Coaxial Communications' equity holders for an aggregate of approximately $30 million. As a consequence of this purchase, Insight Communications will beneficially own 800,000 shares of its outstanding common stock, which it expects will be retired.

"This market opportunity will enable us to greatly simplify the capital structure of our Columbus system, as well as the corporate structure of our entire company," said Dinni Jain, Senior Vice President and CFO of Insight Communications. "These transactions are part of our ongoing effort to strengthen our balance sheet, lower our interest costs and enhance our capital structure. The interest savings going forward will significantly enhance our future free cash flow position."

The proposed transactions are subject to the completion of definitive documents and customary closing conditions. Closing is expected to occur during the current quarter.

Insight Communications (NASDAQ: ICCI) is the 9th largest cable operator in the United States, serving approximately 1.4 million customers in the four contiguous states of Illinois, Kentucky, Indiana and Ohio. Insight specializes in offering bundled, state-of-the-art services in mid-sized communities, delivering basic and digital video, high-speed data and the recent deployment of voice telephony in selected markets to its customers.

Any statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The words "estimate," "expect," "anticipate" and other expressions that indicate future events and trends identify forward-looking statements. The above forward-looking statements are subject to risks and uncertainties and are subject to change based upon a variety of factors that could cause actual results to differ materially from those Insight Communications anticipates. Factors that could have a material and adverse impact on actual results include competition, increasing programming costs, changes in laws and regulations, our substantial debt and the other risk factors described in Insight Communications' annual report on Form 10-K, as amended, for the year ended December 31, 2002 and Form 10-Q for the quarterly period ended March 31, 2003. All forward-looking statements in this press release are qualified by reference to the cautionary statements included in Insight Communications' Form 10-K and Form 10-Q.