Charter Comm at Janco Partners Inc. 9th Annual Media & Telecommunications Conference - Part 1.

(From Fair Disclosure Wire)

CARL VOGEL, CHAIRMAN AND CEO, CHARTER COMM: Obviously we have the safe harbor language. Anything we talk about here that uses forward-looking financial statements are protected by that. Take a look at this. If you have any questions on our financials, any questions on this presentation, take a look at our website and you can find out any additional information. We will be using some non-GAAP terms. The EBITDA etc., things that you are all familiar with. Again, take a look at our website.

What I will be talking about is 2003. What we did in 2003, what our product strategy is going forward in 2004, what our new products are. I will update you and when I talk about new products that's essentially our advanced services, the voice over IP, digital DODs, subscription DOD and then 2004 goes in objective. We're pretty pleased with the accomplishments that we made in 2003. As Matt mentioned we significantly improved our liquidity. Free cash flow from operations went from about $300m negative when you take our operating income less capital expenditures, to $1.4b positive. That's really through the hard work of our management team that I will speak to here in a minute.

In addition we did some transactions in the capital markets that improved our liquidity profile by $2.1b, the largest of which was a $1.7b debt exchange that pushed out our convert maturities and there are some other maturities as well.

Financial discipline is a by word at Charter. We were relatively pleased in a year of transition to post the results that we did. 7% and 11% respectively on a pro forma basis when you take out the Port Orchard sale and certain advertising that we no longer do. We're very pleased. I believe we led the industry in data revenue growth. That may not be data unit growth, but revenues count a lot more than units in our view. 65% increase in 2003 and that was off of a very strong 2002 and we see our data business continuing to perform quite well in 2004.