Telenet Group Holding NV

Capital/Financing Update • Jun 7, 2011

Telenet announces €300 million new issuance under Senior Credit Facility

► Next step in further optimization of capital structure and debt repayment schedule

Mechelen, June 7, 2011 – Telenet Group Holding NV ("Telenet" or the "Company") announces a new issuance of €300 million under its existing credit facility (the "Senior Credit Facility"). Following the voluntary debt exchange and extension process and the issuance of additional debt under the Senior Credit Facility in 2010 and early 2011, this transaction is the next step in a further optimization of Telenet's capital structure and improvement of the debt repayment schedules. At the same time, Telenet will focus on transactions involving repayment/repricing and extension of its existing Term Loans G and J under the Senior Credit Facility to further improve its capital structure as announced separately yesterday.

Telenet intends to use the net proceeds from this new debt issuance, alongside of up to €200 million of existing cash and cash equivalents from its balance sheet to repay in full or in part outstanding amounts under Term Loans G and J of the Senior Credit Facility.

The proceeds for the €300 million issuance will be borrowed from Telenet Finance IV Luxembourg S.C.A. (the "Lender"), an independent financing company, who is proposed to offer €300 million senior secured floating rate notes due 2021 (the "Notes") for this purpose. The Lender will enter into the Senior Credit Facility under an additional tranche with maturity in 2021.

The Notes proposed to be issued by the Lender will be secured by a first‐ranking security interest over all of the capital stock and bank account of the Lender and a first‐ranking security interest over the Lender's rights as a lender under the Senior Credit Facility. The Notes are obligations of the Lender alone and not of – or guaranteed in any way by – Telenet Group Holding NV, Telenet NV or any of their subsidiaries or affiliates.

This transaction will further extend the average maturity profile of Telenet's debt and improve the stability of Telenet's debt capitalization by providing additional cash flow flexibility at very attractive market conditions.

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

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.