<PAGE> 1
EXHIBIT 11
NTL INCORPORATED
CALCULATION OF NET LOSS PER SHARE
<TABLE>
<CAPTION>
Weighted Average Number of Shares
---------------------------------
Date Total Year Ended Year Ended Year Ended
Issued Description of Issuance Outstanding 31-Dec-99 31-Dec-98 31-Dec-97
------ ----------------------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
12/31/95 Common Stock 47,189,173 47,189,173 47,189,173 47,189,173
02/13/96 Common Stock 3,473 3,473 3,473 3,473
02/22/96 Common Stock 833 833 833 833
02/28/96 Common Stock 7,686 7,686 7,686 7,686
03/06/96 Common Stock 1,770 1,770 1,770 1,770
03/12/96 Common Stock 9,258 9,258 9,258 9,258
03/20/96 Common Stock 5,391 5,391 5,391 5,391
03/25/96 Common Stock 117,188 117,188 117,188 117,188
04/11/96 Common Stock 16,280 16,280 16,280 16,280
04/26/96 Common Stock 39,063 39,063 39,063 39,063
05/30/96 Common Stock 2,083 2,083 2,083 2,083
06/13/96 Common Stock 201,239 201,239 201,239 201,239
06/14/96 Common Stock 206,250 206,250 206,250 206,250
08/29/96 Common Stock 2,210,938 2,210,938 2,210,938 2,210,938
11/06/96 Common Stock 69 69 69 69
11/25/96 Common Stock 1,738 1,738 1,738 1,738
12/26/96 Common Stock 8,594 8,594 8,594 8,594
12/27/96 Common Stock 3,125 3,125 3,125 3,125
12/31/96 Common Stock 79,167 79,167 79,167 79,167
01/14/97 Common Stock 1,563 1,563 1,563 1,503
01/17/97 Common Stock 7,014 7,014 7,014 6,688
01/21/97 Common Stock 36,456 36,456 36,456 32,678
02/06/97 Common Stock 348 348 348 286
03/26/97 Common Stock 2,344 2,344 2,344 1,798
05/30/97 Common Stock 1,406 1,406 1,406 828
06/20/97 Common Stock 1,564 1,564 1,564 831
06/25/97 Common Stock 8,334 8,334 8,334 4,316
07/10/97 Common Stock 28,073 28,073 28,073 13,383
09/16/97 Common Stock 5,520 5,520 5,520 1,603
09/26/97 Common Stock 44,791 44,791 44,791 11,781
10/03/97 Common Stock 313 313 313 77
10/15/97 Common Stock 12,873 12,873 12,873 2,714
10/16/97 Common Stock 3,516 3,516 3,516 731
12/10/97 Common Stock 869 869 869 50
12/18/97 Common Stock 1,123 1,123 1,123 41
12/22/97 Common Stock 3,125 3,125 3,125 77
12/26/97 Common Stock 3,125 3,125 3,125 42
01/08/98 Common Stock 62,714 62,714 61,339
01/12/98 Common Stock 8,438 8,438 8,159
01/16/98 Common Stock 5,222 5,222 4,994
01/26/98 Common Stock 2,344 2,344 2,177
01/28/98 Common Stock 30,208 30,208 27,891
01/29/98 Common Stock 469 469 431
02/03/98 Common Stock 12,500 12,500 11,336
02/06/98 Common Stock 1,563 1,563 1,405
02/09/98 Common Stock 11,458 11,458 10,202
02/10/98 Common Stock 1,875 1,875 1,664
02/11/98 Common Stock 5,088 5,088 4,502
02/17/98 Common Stock 12,813 12,813 11,128
02/25/98 Common Stock 4,375 4,375 3,703
</TABLE>
<PAGE> 2
EXHIBIT 11
NTL INCORPORATED
CALCULATION OF NET LOSS PER SHARE
<TABLE>
Weighted Average Number of Shares
---------------------------------
Date Total Year Ended Year Ended Year Ended
Issued Description of Issuance Outstanding 31-Dec-99 31-Dec-98 31-Dec-97
------ ----------------------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
03/04/98 Common Stock 313 313 258
03/06/98 Common Stock 5,938 5,938 4,880
03/11/98 Common Stock 14,531 14,531 11,744
03/12/98 Common Stock 2,188 2,188 1,763
03/13/98 Common Stock 4,063 4,063 3,261
03/23/98 Common Stock 11,042 11,042 8,563
04/02/98 Common Stock 4,688 4,688 3,506
04/06/98 Common Stock 5,938 5,938 4,375
04/07/98 Common Stock 10,417 10,417 7,648
04/13/98 Common Stock 2,656 2,656 1,906
04/20/98 Common Stock 5,781 5,781 4,039
04/24/98 Common Stock 10,871,123 10,871,123 7,475,759
04/27/98 Common Stock 1,563 1,563 1,061
05/07/98 Common Stock 3,048,438 3,048,438 1,987,748
05/12/98 Common Stock 1,250 1,250 798
05/18/98 Common Stock 3,125 3,125 1,944
05/19/98 Common Stock 6,875 6,875 4,256
05/21/98 Common Stock 4,219 4,219 2,589
05/26/98 Common Stock 37,761 37,761 22,656
05/27/98 Common Stock 5,625 5,625 3,359
06/05/98 Common Stock 3,125 3,125 1,789
06/08/98 Common Stock 1,523 1,523 859
06/10/98 Common Stock 5,000 5,000 2,794
06/25/98 Common Stock 15,625 15,625 8,091
06/29/98 Common Stock 625 625 317
07/02/98 Common Stock 19,661 19,661 9,805
07/06/98 Common Stock 2,500 2,500 1,219
07/14/98 Common Stock 7,344 7,344 3,420
07/16/98 Common Stock 313 313 144
07/22/98 Common Stock 1,250 1,250 555
07/23/98 Common Stock 1,719 1,719 758
07/29/98 Common Stock 41,875 41,875 17,784
08/03/98 Common Stock 47,917 47,917 19,692
08/12/98 Common Stock 10,156 10,156 3,923
08/20/98 Common Stock 3,438 3,438 1,253
08/26/98 Common Stock 26,667 26,667 9,278
09/17/98 Common Stock 11,719 11,719 3,372
10/02/98 Common Stock 625 625 155
10/05/98 Common Stock 17,353 17,353 4,136
10/07/98 Common Stock 406 406 95
10/19/98 Common Stock 4,427 4,427 886
10/21/98 Common Stock 7,019 7,019 1,366
10/27/98 Common Stock 13,522,119 13,522,119 2,408,048
10/30/98 Common Stock 55 55 9
11/09/98 Common Stock 156 156 22
11/16/98 Common Stock 20,234 20,234 2,495
11/17/98 Common Stock 15,775,705 15,775,705 1,901,725
11/19/98 Common Stock 19,938 19,938 2,294
11/24/98 Common Stock 9,375 9,375 950
11/25/98 Common Stock 120 120 13
</TABLE>
<PAGE> 3
EXHIBIT 11
NTL INCORPORATED
CALCULATION OF NET LOSS PER SHARE
<TABLE>
Weighted Average Number of Shares
---------------------------------
Date Total Year Ended Year Ended Year Ended
Issued Description of Issuance Outstanding 31-Dec-99 31-Dec-98 31-Dec-97
------ ----------------------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
11/30/98 Common Stock 21,875 21,875 1,858
12/02/98 Common Stock 642 642 52
12/07/98 Common Stock 12,672 12,672 833
12/08/98 Common Stock 18,802 18,802 1,184
12/11/98 Common Stock 3,125 3,125 172
12/15/98 Common Stock 391 391 17
12/22/98 Common Stock 58 58 2
12/23/98 Common Stock 148 148 3
12/24/98 Common Stock 125 125 3
12/29/98 Common Stock 15,625 15,625 86
12/30/98 Common Stock 2,402 2,402 6
12/31/98 Common Stock 13,413 13,413
01/04/99 Common Stock 6,250 6,182
01/06/99 Common Stock 469 461
01/07/99 Common Stock 156 153
01/11/99 Common Stock 46,044 44,655
01/12/99 Common Stock 115,782 111,974
01/14/99 Common Stock 2,394 2,302
01/15/99 Common Stock 7,031 6,742
01/19/99 Common Stock 250 237
01/20/99 Common Stock 28,125 26,584
01/21/99 Common Stock 1,876 1,768
01/22/99 Common Stock 10,574 9,937
01/25/99 Common Stock 80,158 74,667
01/26/99 Common Stock 14,687 13,641
01/27/99 Common Stock 938 868
01/28/99 Common Stock 4,688 4,328
01/29/99 Common Stock 18,906 17,404
02/01/99 Common Stock 5,313 4,846
02/02/99 Common Stock 13,438 12,222
02/03/99 Common Stock 499 452
02/05/99 Common Stock 35,976 32,425
02/08/99 Common Stock 4,219 3,768
02/09/99 Common Stock 6,250 5,565
02/10/99 Common Stock 27,083 24,041
02/12/99 Common Stock 9,464 8,350
02/16/99 Common Stock 5,313 4,629
02/17/99 Common Stock 10,625 9,228
02/19/99 Common Stock 7,813 6,742
02/22/99 Common Stock 75 64
02/23/99 Common Stock 6,563 5,591
02/26/99 Common Stock 39,844 33,622
03/01/99 Common Stock 40,625 33,947
03/03/99 Common Stock 274 227
03/05/99 Common Stock 57 48
03/08/99 Common Stock 19,855,189 16,210,538
03/11/99 Common Stock 20,677 16,711
03/12/99 Common Stock 10,000 8,054
03/15/99 Common Stock 16,615 13,245
03/16/99 Common Stock 15,939 12,662
</TABLE>
<PAGE> 4
EXHIBIT 11
NTL INCORPORATED
CALCULATION OF NET LOSS PER SHARE
<TABLE>
Weighted Average Number of Shares
---------------------------------
Date Total Year Ended Year Ended Year Ended
Issued Description of Issuance Outstanding 31-Dec-99 31-Dec-98 31-Dec-97
------ ----------------------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
03/17/99 Common Stock 5,125 4,058
03/23/99 Common Stock 7,019 5,442
03/26/99 Common Stock 39,068 29,970
03/30/99 Common Stock 14,377 10,870
03/31/99 Common Stock 70,326 52,985
04/01/99 Common Stock 10,156 7,624
04/08/99 Common Stock 465,893 340,804
04/09/99 Common Stock 469 342
04/12/99 Common Stock 63 45
04/13/99 Common Stock 19,063 13,683
04/14/99 Common Stock 19,531 13,966
04/15/99 Common Stock 29,689 21,147
04/19/99 Common Stock 17,368 12,180
04/20/99 Common Stock 625 437
04/21/99 Common Stock 31 22
04/23/99 Common Stock 63 43
04/26/99 Common Stock 29,890 20,391
04/28/99 Common Stock 17,031 11,526
04/29/99 Common Stock 24,688 16,639
04/30/99 Common Stock 7,813 5,244
05/03/99 Common Stock 14,063 9,324
05/04/99 Common Stock 15,625 10,317
05/05/99 Common Stock 9,156 6,021
05/07/99 Common Stock 20,423 13,317
05/10/99 Common Stock 15,775 10,157
05/12/99 Common Stock 3,438 2,194
05/14/99 Common Stock 22,188 14,042
05/17/99 Common Stock 1,563 976
05/18/99 Common Stock 100,938 62,775
05/19/99 Common Stock 2,188 1,354
05/20/99 Common Stock 58,552 36,094
05/21/99 Common Stock 8,396 5,152
05/24/99 Common Stock 6,852 4,149
05/25/99 Common Stock 11,874 7,156
05/26/99 Common Stock 16,250 9,750
05/28/99 Common Stock 6,563 3,902
06/02/99 Common Stock 11,781 6,843
06/04/99 Common Stock 31,250 17,979
06/07/99 Common Stock 141 80
06/08/99 Common Stock 52,032 29,366
06/10/99 Common Stock 542,944 303,453
06/11/99 Common Stock 3,907 2,173
06/14/99 Common Stock 97,524 53,438
06/15/99 Common Stock 156 85
06/16/99 Common Stock 7,500 4,068
06/17/99 Common Stock 575,574 310,651
06/18/99 Common Stock 7,969 4,279
06/21/99 Common Stock 850,569 449,753
06/22/99 Common Stock 4,415,447 2,320,208
06/24/99 Common Stock 571,959 297,732
</TABLE>
<PAGE> 5
EXHIBIT 11
NTL INCORPORATED
CALCULATION OF NET LOSS PER SHARE
<TABLE>
Weighted Average Number of Shares
---------------------------------
Date Total Year Ended Year Ended Year Ended
Issued Description of Issuance Outstanding 31-Dec-99 31-Dec-98 31-Dec-97
------ ----------------------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
06/28/99 Common Stock 3,024,169 1,541,084
07/08/99 Common Stock 6,656 3,210
07/09/99 Common Stock 3,438 1,648
07/13/99 Common Stock 1,273,094 596,436
07/14/99 Common Stock 78,414 36,522
07/20/99 Common Stock 18,345 8,241
07/22/99 Common Stock 39,367 17,471
07/23/99 Common Stock 1,406 620
07/26/99 Common Stock 156 68
07/28/99 Common Stock 20,592 8,801
08/02/99 Common Stock 969 401
08/05/99 Common Stock 29,063 11,784
08/09/99 Common Stock 2,500 986
08/12/99 Common Stock 8,136 3,143
08/13/99 Common Stock 4,222,974 1,619,771
08/16/99 Common Stock 3,750 1,408
08/17/99 Common Stock 6,250 2,329
08/18/99 Common Stock 4,073 1,506
08/20/99 Common Stock 4,845 1,765
08/23/99 Common Stock 24,531 8,737
09/03/99 Common Stock 938 306
09/07/99 Common Stock 470 148
09/09/99 Common Stock 1,954 604
09/10/99 Common Stock 12,610 3,869
09/13/99 Common Stock 1,402 418
09/17/99 Common Stock 3,125 899
09/21/99 Common Stock 1,563 432
09/23/99 Common Stock 25,471 6,909
09/27/99 Common Stock 1,719 447
09/30/99 Common Stock 625 158
10/04/99 Common Stock 8,487 2,045
10/12/99 Common Stock 2,266 496
10/15/99 Common Stock 1,563 330
10/21/99 Common Stock 416 81
10/25/99 Common Stock 4,688 860
10/26/99 Common Stock 156,516 28,301
11/02/99 Common Stock 1,250 202
11/03/99 Common Stock 8,438 1,340
11/05/99 Common Stock 5,938 911
11/08/99 Common Stock 13,125 1,906
11/10/99 Common Stock 32,941 4,603
11/12/99 Common Stock 22,814 3,063
11/15/99 Common Stock 6,220 783
11/16/99 Common Stock 13,750 1,695
11/18/99 Common Stock 626 74
11/19/99 Common Stock 26,875 3,092
11/22/99 Common Stock 15,000 1,603
11/23/99 Common Stock 264 27
11/24/99 Common Stock 20,815 2,014
11/29/99 Common Stock 156 14
</TABLE>
<PAGE> 6
EXHIBIT 11
NTL INCORPORATED
CALCULATION OF NET LOSS PER SHARE
<TABLE>
<CAPTION>
Weighted Average Number of Shares
---------------------------------
Date Total Year Ended Year Ended Year Ended
Issued Description of Issuance Outstanding 31-Dec-99 31-Dec-98 31-Dec-97
------ ----------------------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
12/01/99 Common Stock 3,750 308
12/03/99 Common Stock 12,875 988
12/07/99 Common Stock 15,313 1,007
12/08/99 Common Stock 15,563 981
12/10/99 Common Stock 33,201 1,910
12/13/99 Common Stock 2,594 128
12/16/99 Common Stock 15,189 625
12/17/99 Common Stock 91,542 3,510
12/21/99 Common Stock 5,000 137
12/22/99 Common Stock 2,500 62
12/23/99 Common Stock 76,408 1,674
12/27/99 Common Stock 27,345 300
12/29/99 Common Stock 51,261 281
12/30/99 Common Stock 13,744 37
12/31/99 Common Stock 14,250
---------------------------------------------------------------------------------------
Total 132,415,895 119,418,138 64,378,182 50,182,745
=======================================================================================
Loss before extraordinary item ($732,683,000) ($503,927,000) ($328,557,000)
Preferred stock dividend (73,709,000) (18,761,000) (11,978,000)
------------------------------------------------------------------
(806,392,000) (522,688,000) (340,535,000)
Extraordinary item (3,034,000) (30,689,000) (4,500,000)
------------------------------------------------------------------
Loss available to common
shareholders ($809,426,000) ($553,377,000) ($345,035,000)
==================================================================
Basic and diluted net loss per
common share:
Loss before extraordinary item ($6.75) ($8.12) ($6.79)
Extraordinary item (0.03) (0.48) (0.09)
------------------------------------------------------------------
Net loss ($6.78) ($8.60) ($6.88)
==================================================================
</TABLE>