NEW YORK -- NTL Incorporated (OTC BB: NTLD; NASDAQ Europe: NTLI), announced today that it has filed its previously announced Chapter 11 "prearranged" Plan of Reorganization under U.S. law. As set forth in its Plan of Reorganization, the Company, a steering committee of its lending banks and an unofficial committee of its public bondholders (holding over 50% of the face value of NTL and its subsidiaries' public bonds) have reached an agreement in principle on implementing the recapitalization plan announced last month. In addition, France Telecom and certain other holders of the Company's preferred stock, have also agreed to the plan. None of NTL's operating companies or customers in the UK, Ireland or Continental Europe will be affected by the Chapter 11 filings. Trade creditors, suppliers and employees will continue to be paid in the ordinary course of business. As previously announced, under the proposed recapitalization plan, approximately $10.6 billion in debt will be converted to equity in two reorganized companies - NTL UK and Ireland and NTL Euroco. In addition, NTL has received from certain members of the bondholder group a commitment of up to $500 million in new financing for NTL's UK and Ireland operations during the recapitalization process, subject to final approval by the U.S. Court. This new financing will further ensure that the Company and its business operations have access to sufficient liquidity to continue ordinary operations. NTL Inc.