Telenet Finance Luxembourg II S.A. announces completion of senior secured notes offering

► Successful offering of Senior Secured Notes due 2016 of €100 million, the top end of the initial range of €75-100 million;

► Annual interest of 5.30%.

Luxembourg, November 16, 2010

Telenet Finance Luxembourg II S.A. (the "Issuer"), an independent financing company, announces that it has completed the offering of Senior Secured Notes due November 2016, with a denomination of €50,000 each (the "Notes"). The Notes will bear interest at 5.30% per year. As a result of high demand for these Notes, the offering was completed for a maximum of €100 million, which is the top end of the initial range of €75-100 million.

The Issuer, which 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 the shares 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.

Press release in attachment.