Time Warner Cable Prices a $2 Billion Debt Offering

Time Warner Cable Inc. (NYSE:TWC) today announced that it has priced a $ 2 billion underwritten public offering of debt securities, including $750 million aggregate principal amount of 8 ¼ % notes due 2014 and $1.25 billion aggregate principal amount of 8 ¾ % notes due 2019. The net proceeds from the issuance of the debt securities are expected to be used to finance, in part, a one-time dividend to stockholders of Time Warner Cable to be paid just prior to the previously announced separation of Time Warner Cable from its parent company, Time Warner Inc. If the separation is not consummated and the special dividend is not paid, Time Warner Cable will use the proceeds from the issuance of the debt securities for general corporate purposes, including repayment of indebtedness. The sale of the debt securities is expected to close on November 18, 2008.

The debt securities will be issued by Time Warner Cable Inc. and guaranteed by its subsidiaries TW NY Cable Holding Inc. and Time Warner Entertainment Company, L.P. Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co. and Mizuho Securities USA Inc. are joint book-running managers.

Time Warner Cable has filed a registration statement on Form S-3 (including a prospectus) with the SEC for this offering. Interested parties should read the prospectus in that registration statement, the preliminary and final prospectus supplements for this offering and the other documents that Time Warner Cable has filed with the SEC that are incorporated by reference into the preliminary and final prospectus supplements for more complete information about Time Warner Cable and this offering. These documents are available at no charge by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, these documents will be made available by any underwriter or dealer participating in the offering to interested parties who make a request from Citigroup Global Markets Inc., Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, (877) 858-5407; Deutsche Bank Securities Inc., Attention: Prospectus Department, 100 Plaza One, Second Floor, Jersey City, New Jersey 07311, (800) 503-4611; Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, New York 10004, (866) 471-2526; Mizuho Securities USA Inc., Attention: Debt Capital Markets, 1251 Avenue of the Americas, 33rd Floor, New York, New York 10020, (800) 221-8866 (ext. 3143).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Caution Concerning Forward-Looking Statements

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, the planned separation from Time Warner Inc., and other factors affecting the operations of Time Warner Cable Inc. More detailed information about these factors may be found in filings by Time Warner Cable Inc. with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Time Warner Cable is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts

Time Warner Cable Inc.
Corporate Communications
Alex Dudley, 212-364-8229
or
Investor Relations
Tom Robey, 212-364-8218
Laraine Mancini, 212-364-8202