NTL Completes Virgin Buy

HOOK, U.K. -- NTL Incorporated (NASDAQ: NTLI - News), the holding company of the ntl: Telewest group, which now includes Virgin Mobile, today announced that having received all necessary court approvals, ntl: Telewest's acquisition of Virgin Mobile has completed and Virgin Mobile's shares have been de-listed from the London Stock Exchange.

Under a previous agreement, ntl: Telewest has also entered into a licensing arrangement with Virgin Enterprises permitting use of the Virgin brand for ntl: Telewest's full portfolio of consumer services. Together, the Virgin Mobile acquisition and licensing agreement will make ntl: Telewest a powerful new force in the fast-changing communications and entertainment industry and provide consumers with their first opportunity to buy a 'quadruple-play' of competitively priced TV, internet and fixed and mobile telephony services from a single operator through one of the UK's most trusted brands. As the UK's digital revolution gathers pace, the deal will also position the company to exploit the growing demand for converged products and services.

For the time being, however, they will continue to operate as separate organisations and brands, so there will be no change to the services or terms and conditions of either company's customers. It is anticipated that the company will start marketing a single portfolio of services under the Virgin brand some time early in 2007, if not sooner.

Commenting on the transaction, ntl:Telewest's CEO Steve Burch said: "This is a transformational deal for ntl:Telewest and good news for UK consumers. Virgin Mobile has a justified reputation for being one of the country's most customer-focused companies. This combined with ntl:Telewest's portfolio of competitively-priced, cutting edge products, will create a formidable competitor in the UK's fast changing communications and entertainment industries."

ntl group ltd. (Nasdaq: NTLI)