Time Warner Cable Prices a $5 Billion Debt Offering

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Time Warner Cable Prices a $5 Billion Debt Offering

NEW YORK--Time Warner Cable Inc. (NYSE:TWC) today announced that it has priced a $5 billion underwritten public offering of debt securities, including $1.5 billion aggregate principal amount of 6.20% notes due 2013, $2 billion aggregate principal amount of 6.75% notes due 2018 and $1.5 billion aggregate principal amount of 7.30% debentures due 2038. The net proceeds from the issuance of the debt securities are expected to be used to finance, in part, a one-time cash 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 June 19, 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. Banc of America Securities LLC, BNP Paribas Securities Corp., Greenwich Capital Markets, Inc., Morgan Stanley & Co. Incorporated and Wachovia Capital Markets, LLC are joint book-running managers. Interested parties may obtain a written prospectus from Banc of America Securities LLC, Attention: Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001, BNP Paribas Securities Corp. at Broadridge Financial Solutions, Attention: Post-Sale Fulfillment, 1155 Long Island Avenue, Edgewood, New York 11717, Greenwich Capital Markets, Attention: Debt Capital Markets Syndicate, 600 Steamboat Road, Greenwich, Connecticut 06830, Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014 or Wachovia Capital Markets, LLC at 1525 West Wt Harris Boulevard, Charlotte, North Carolina 28262.

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 other documents Time Warner Cable has filed with the SEC 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 by calling toll-free: Banc of America Securities LLC at (800) 294-1322, BNP Paribas Securities Corp. at (800) 854-5674, Greenwich Capital Markets, Inc. at (866) 884-2071, Morgan Stanley & Co. Incorporated at (866) 718-1649 and Wachovia Capital Markets, LLC at (800) 326-5897.

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, 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 Report 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.