Telenet Finance III Luxembourg S.C.A. announces launch of senior secured notes offering

Launch of €300 million Senior Secured Notes due 2021

Luxembourg, February 9, 2011 Telenet Finance III Luxembourg S.C.A. (the "Issuer"), an independent financing company, announces the offer of €300 million senior secured notes due 2021 (the "Notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, (the "Securities Act") and outside the United States to certain non-U.S. persons pursuant to Regulation S under the Securities Act.

The Issuer, who is independent from the Telenet group of companies, will lend the gross proceeds of the Notes to Telenet International Finance S.à r.l., a subsidiary of Telenet NV, under an additional tranche under the Telenet group's existing credit facility (the "Senior Credit Facility"). The Notes will be secured by a first-ranking security interest over all of the capital stock and bank account of the Issuer and a first-ranking security interest over the Issuer's rights as a lender under the Senior Credit Facility. The Notes are obligations of the Issuer alone and not of - or guaranteed in any way by Telenet Group Holding NV, Telenet NV or any of their subsidiaries or affiliates.

cfr Press Release