Telenet upgrades FY 2012 outlook

• FY 2012 outlook revised upwards on the back of robust H1 2012 results and strong operating momentum in Q3 2012.

- Today, Telenet Group Holding NV ("Telenet" or the "Company") (Euronext Brussels: TNET) announces an upward revision to its FY 2012 outlook.

For the full year 2012, the Company now targets revenue growth of "between 7-8%" as compared to "between 5-6%" initially provided, driven by growth in the number of multiple-play, digital TV, Sporting Telenet and Fibernet subscribers and a growing contribution from Telenet's mobile telephony operations.

The Company anticipates Adjusted EBITDA to grow at an equal rate to its top line, i.e. "between 7-8%" for the full year 2012 as compared to "between 5-6%" initially provided, mainly as a function of stabilization of margins, achieved through disciplined cost control and cost benefits resulting from scale effects and multiple-play growth.

Telenet forecasts an increase in accrued capital expenditures to account for "between 24-25% of revenue" for the full year 2012 as compared to "between 22-23%" initially provided. Accrued capital expenditures remain predominantly success-based, driven by a higher proportion of rental set-top boxes as a result of a further digitalization of Telenet's basic cable TV subscriber base and higher accrued capital expenditures for customer installations.

Finally, the Company anticipates Free Cash Flow for the full year 2012 to remain "stable" as compared to 2011.

Telenet will release its detailed Q3 2012 earnings on Wednesday October 24, 2012 after market close at 5:45pm CET. The Company will host an Investor & Analyst conference call and webcast on Thursday October 25, 2012 at 4:00pm CET.

cfr Press Release