Waller Capital Advises Time Warner Cable on Sale of Certain Non-Core Cable Systems

New York, NY

NEW YORK–(BUSINESS WIRE)–Time Warner Cable (NYSE: TWC – News) today announced that it entered into an agreement to sell a group of small cable systems to Windjammer Communications, a venture between MAST Capital Management, LLC and Communications Construction Services (CCS). The systems serve approximately 80,000 basic video subscribers and 120,000 revenue generating units spread across more than 125 head-ends in 25 states and located in areas outside of the Company’s core geographic clusters.

The sale to Windjammer Communications is expected to close during the fourth quarter of 2008, subject to obtaining customary regulatory approvals.

About Time Warner Cable

Time Warner Cable is the second-largest cable operator in the U.S., with technologically advanced, well-clustered systems located mainly in five geographic areas — New York State (including New York City), the Carolinas, Ohio, southern California (including Los Angeles) and Texas. As of March 31, 2008, Time Warner Cable served approximately 14.7 million customers who subscribed to one or more of its video, high-speed data and voice services, representing approximately 33.0 million revenue generating units.

Contact:
Time Warner Cable
Corporate Communications
Robyn Watson, 212-364-8296
or
Investor Relations
Tom Robey, 212-364-8218
Laraine Mancini, 212-364-8202

Source: Time Warner Cable