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Insight Communications, Inc. Concludes Financing for Insight Midwest Expansion

New York – January 08, 2001 –

Insight Communications announced that it completed the expansion and financing of Insight Midwest, its 50-50 joint venture with AT&T Broadband.

The expansion of Insight Midwest included a series of transactions, which brings the joint venture’s total number of customers to approximately 1.4 million, 99% of which are concentrated in the four contiguous states of Illinois, Indiana, Ohio, and Kentucky. All of Insight’s operating systems are now within Insight Midwest.

“The new systems we’re acquiring from AT&T Broadband in Illinois fit very well with our strategy and expertise in second-tier markets,” said Michael S. Willner, Insight’s President and CEO. “Our technical clustering in this expanded footprint is totally consistent with our focus to operate large cable systems that allow us to efficiently deploy advanced telecommunications services throughout the entire company.”

In conjunction with the expansion, Insight Midwest closed on a new $1.750 billion credit facility. Kim D. Kelly, Insight’s Executive Vice President, Chief Operating and Financial Officer, said, that, as a result, all of the necessary capital exists for the acquisition of the 530,000 customers, the upgrades of all of the acquired systems, and for telephone deployments throughout the Insight Midwest footprint.

“We’re very pleased with our financial position,” added Kelly. “With our new credit facility and our existing bonds, we are now fully funded. In addition, all of our operating systems are now within the joint venture and this brings us immediate economic benefits throughout the company. We also will benefit from simplified financial reporting as we continue to move forward.”



Insight Communications (Nasdaq: ICCI) is the 8th largest cable operator in the United States with approximately 1.4 million subscribers. It became the first cable operator in 14 years to complete an initial public offering in July 1999 when it raised $650 million. The company specializes in offering bundled, state-of-the-art technology in mid-sized communities delivering analog and digital video, high-speed data and, in the near future, voice telephony to its customers.



Contact:

Kim Kelly
EVP/COO/CFO
Insight Communications
(917) 286-2300