EXIBIT 99.2
[NTL Logo]
NTL TO LIST SHARES ON THE NEW YORK STOCK EXCHANGE
Shares to trade under the ticker symbol "NLI"
New York, New York, October 19, 2000 - NTL Incorporated (NASDAQ and EASDAQ:
NTLI), one of Europe's largest broadband telephone, TV and Internet
communications companies, announced today that it intends to list its shares on
the New York Stock Exchange (NYSE) later this month under the ticker symbol
"NLI." Concurrent with the NYSE listing, NTL will withdraw its listing on the
Nasdaq Stock Market.
"NTL has grown significantly in the past couple of years, enhancing our
service and product offerings and expanding our European customer base to
approximately eight million," said Barclay Knapp, NTL's Chief Executive Officer.
"Given our size and the scope of our business, it is now appropriate for NTL to
list our shares on the New York Stock Exchange."
Mr. Knapp added, "Increasing our visibility in the U.S. and European
capital markets is an important part of our growth strategy and we believe that
listing on the NYSE, as well as continuing our efforts in seeking a European
listing, will enhance our ability to execute on our expansion efforts. In
addition, we believe that this listing will afford additional operating
flexibility and a more liquid transaction currency to more aggressively pursue
our strategic growth initiatives."
"By listing on the New York Stock Exchange, NTL is joining a growing list
of leading global corporations in the world's fastest growing and most
technologically advanced capital market," said Richard A. Grasso, Chairman and
CEO of the New York Stock Exchange. "We are delighted and honored to welcome NTL
Inc. to the Exchange."
About NTL
- NTL uses state-of-the-art technology to deliver telephone, TV, Internet and
interactive services to UK homes and businesses
- 22 million homes watch ITV, C4 and C5 thanks to NTL's broadcast
transmission network and 12 million homes are within its fibre-optic
broadband network
- NTL helped pioneer digital TV and is involved in digital terrestrial, cable
and satellite. It launched the UK's first interactive service in March 1999
- NTL's national telecoms network carries such names as Virgin, Orange and
AT&T
- NTL is increasingly a significant broadband player in Europe with
businesses in Ireland, France, Germany and Switzerland, as well as
South-East Asia and Australia
- In May 2000, NTL completed its acquisition of the consumer and direct
business operations of Cable & Wireless Communications
Please contact:
In the US:
John Gregg, Senior Vice President - Chief Financial Officer
Richard Lubasch, Executive Vice President - General Counsel
Bret Richter, Vice President - Corporate Finance and Development
Amy Minnick, Investor Relations
Tel: (212) 906-8440, or via e-mail at [email protected]
In the UK
Alison Kirkwood Tel: 01256 752662
Malcolm Padley Tel: 01256 753408
