Telenet Group Holding NV

Capital/Financing Update • Jul 4, 2011

Telenet announces successful exchange/repricing process of existing Term Loans allocation repricing allocation of debt

The enclosed information constitutes regulated information as defined in the Royal Decree of November 14, 2007 relating to the obligations of issuers of financial instruments that are admitted to trading on a regulated market.

Mechelen, July 4, 2011 – Today, Telenet subsidiary of Telenet Group Holding NV ("Telenet" or "the Company") allocation of its voluntary exchange process for certain Term Loans under its lenders in Term Loan G were requested participations and commitments in new Term Loans either with unchanged maturity at July 31, 2017 with an extended maturity of two years (to July 31, 2019), in each case repriced in line with market conditions. After the closing of this transaction, proceeds of the recent €400.0 million issuance of Senior Secured Floating Rate Notes by Telenet Finance IV Luxembourg to fully redeem Telenet International Finance S.à r.l. ("Telenet International Finance Company"), announced the successful Senior Credit Facility to exchange their existing participations and commitments for Telenet International Finance will use the entire the remaining part of the existing Term Loans G and J. Finance"), a Facility. Existing or current

The voluntary exchange and repricing process resulted in a further extension of the average maturity of Telenet's Senior Credit Facility to approximately 8.5 years. Hence, Telenet will not face any debt amortizations before mid neutral transaction will further improve the stabili additional cash flow flexibility to the business sole book-runner of this transaction. process, together with the redemption of shorter mid-November 2016. This leverage stability of Telenet's debt capitalization by providing at very attractive market conditions , shorter-term maturities, November leveragety conditions. BNP Paribas acted as

As of March 31, 2011, Telenet carried a Net Total Debt ratio (Moody's) and BB+ (Fitch). runner , of 2.8x EBITDA. Telenet's debt is rated Ba3

€m	Amount	Drawn	Undrawn	Maturity	Interest
Term Loan G	1,550.5	1,550.5	0.0	July 2017	Euribor + 3.75%
Term Loan J	79.3	79.3	0.0	August 2015	Euribor +2.75%
Term Loan M	500.0	500.0	0.0	November 2020	Fixed - 6.375%
Term Loan N	100.0	100.0	0.0	November 2016	Fixed - 5.30%
Term Loan O	300.0	300.0	0.0	February 2021	Fixed - 6.625%
Revolving Facility	175.0	0.0	175.0	August 2014	Euribor +2.125%
TOTAL	2,704.8	2,529.8	175.0	Average 7.2 years	(1) W'ted average 5.49%

TERM LOAN STRUCTURE – AS OF MARCH 31, 2011

NEW TERM LOAN STRUCTURE – POST EXCHANGE AND REPRICING PROCESS

€m	Amount	Drawn	Undrawn	Maturity	Interest
Term Loa n M	500.0	500.0	0.0	November 2020	Fixed - 6.375%
Term Loa n N	100.0	100.0	0.0	November 2016	Fi xed - 5.30%
Term Loa n O	300.0	300.0	0.0	February 2021	Fixed - 6.625%
Term Loa n P	400.0	400.0	0.0	June 2021	Euribor + 3.875%
Term Loa n Q	431.1	431.1	0.0	July 2017	Euribor + 3.25%
Term Loa n R	798.5	798.5	0.0	July 2019	Euribor +3.625%
Revolvi ng Facility (2)	175.0	0.0	175.0	Augus t 2014	Euribor +2.125%
TOTAL	2,704.7	2,529.7	175.0	Average 8.5 years	W'ted average 5.42% (1)

(1) Represents a weighted average that excludes Telenet's Revolving Facility, basis of one-month EURIBOR as of the basis of three-month EURIBOR as of June 30, 2011 ( which is fully undrawn at present, calculated on the month June 30, 2011 (1.316%) applicable for Term Loan M, Term Loan N and Term Loan O month (1.469%) applicable for Term Loan P. erm and on

(2) Prior to the closing of the voluntary extension and repricing of the Revolving Facility. Contacts

Investor Relations &

_____________________

Corporate Communication: Vincent Bruyneel – vincent.bruyneel@staff.telenet.be – Phone: +32 15 335 696 Investor Relations: Rob Goyens – rob.goyens@staff.telenet.be – Phone: +32 15 333 054 Press & Media Relations: Stefan Coenjaerts – stefan.coenjaerts@staff.telenet.be – Phone: +32 15 335 006

About Telenet – Telenet is a leading provider of media and telecommunication services. Its business comprises the provision of cable television, high speed internet and fixed and mobile telephony services, primarily to residential customers in Flanders and Brussels. In addition, Telenet offers services to business customers across Belgium under the brand Telenet Solutions. Telenet is listed on the Euronext Brussels Stock Exchange under the ticker symbol TNET and is part of the BEL20 stock market index.