Virgin Media Announces Offering of GBP 500 Million Equivalent of Senior Notes Due 2019

The notes will rank pari passu with Virgin Media Finance PLC's outstanding senior notes due in 2014 and 2016.

Virgin Media intends to use the net proceeds from the notes offering to redeem a portion of the outstanding senior notes due 2014. Those notes were issued in April 2004, will mature on April 15, 2014 and comprise U.S. dollar denominated 8.75% senior notes due 2014 with a principal amount outstanding of $425 million, sterling denominated 9.75% senior notes due 2014 with a principal amount outstanding of GBP 375 million, and euro denominated 8.75% senior notes due with a principal amount outstanding of EUR225 million. The current redemption price is 104.375% of the principal amount of the U.S. dollar denominated notes and the euro denominated notes and 104.875% of the principal amount of the sterling denominated notes. Virgin Media expects to send a notice of redemption to the holders of the senior notes due 2014 shortly after the completion of this offering. Virgin Media currently expects to repay the remaining outstanding senior notes due 2014 in the future with cash from its balance sheet, supplemented further by cash flow from operations, subject to obtaining consent from its senior lenders.

Important Information

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A registration statement relating to the notes became effective on May 27, 2009, and was amended by a post-effective amendment that became effective on November 2, 2009, and this offering is being made by means of a prospectus supplement. A copy of each of these documents has been filed with the U.S. Securities and Exchange Commission (SEC) and may be viewed on the SEC website at http://www.sec.gov/edgar/searchedgar/webusers.htm and on the Virgin Media website at http://www.virginmedia.com/investors.

Virgin Media cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Virgin Media's results to differ materially from historical results or those expressed or implied by such forward-looking statements. Certain of these factors are discussed in more detail under "Risk Factors" and elsewhere in Virgin Media's annual report on Form 10-K as filed with the SEC on February 26, 2009, and revised by its current report on Form 8-K as filed with the SEC on May 27, 2009, and its quarterly reports on Form 10-Q as filed with the SEC on May 6, 2009, August 7, 2009 and October 29, 2009. There can be no assurance that the transactions contemplated in this announcement will be completed. Virgin Media assumes no obligation to update any forward-looking statement included in this announcement to reflect events or circumstances arising after the date on which it was made.

SOURCE: Virgin Media Inc.

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