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Technology Stocks : UMG - MediaOne Group -- Ignore unavailable to you. Want to Upgrade?

To: Brian Malloy who wrote (886)	8/31/1999 11:24:00 PM
From: E. Taylor	Read Replies (1) \| Respond to of 891

Release Date August 30, 1999 Contact Information MediaOne® and Cox Close on System Trades Involving 105,000 Customers Companies Exchange Properties In Massachusetts, Rhode Island and Connecticut Englewood, Colo. & Atlanta, Ga, - Cox Communications, Inc. and MediaOne®, the broadband services arm of MediaOne Group, have closed on an agreement announced in February to trade systems serving a total of 105,000 customers in Massachusetts, Rhode Island and Connecticut, the companies announced today. The transaction gave MediaOne systems serving nearly 54,000 former Cox customers in Taunton, North Attleboro, Franklin, Millis, Norton, Plainville, Somerset, Swansea and Blackstone, Mass. Cox received systems serving 51,000 former MediaOne customers in Enfield, Conn., Westerly, R.I., and Holland, Mass., plus an undisclosed amount of cash. MediaOne is New England's largest Broadband services company with over 1.4 million regional customers. The transaction furthers each company's strategy to consolidate operations into large clusters to better enable the launch and marketing of new services such as digital video, telephone and high-speed Internet access, and to benefit from economies of scale in their operations. Cox Communications, Inc. (NYSE: COX) is among the nation's largest broadband communications companies, serving 3.8 million customers. As a full service provider of telecommunications products, Cox offers an array of services, including cable television under the Cox Cable brand; local and long distance telephone services under the Cox Digital Telephone brand; high speed Internet access via Cox@Home; advanced digital video programming services under the Cox Digital TV brand; and commercial voice and data services via Cox Business Services. Cox is an equity owner of Sprint PCS, the nation's first national wireless personal communications service (PCS); and also is an investor in numerous programming networks, including Discovery Channel. More information about Cox Communications can be accessed on the Internet at www.cox.com. MediaOne, the nation's leading Broadband services company, provides entertainment, information, and communication services to about 5 million customers. MediaOne Group (NYSE: UMG) is one of the world's largest broadband communications companies, bringing the power of broadband and the Internet to customers in the United States, Europe and Asia. The company also has interests in some of the fastest-growing wireless communications businesses outside the U.S. For 1998, the businesses that comprise MediaOne Group produced $7.1 billion in proportionate revenue. On May 6, 1999, the company entered into an agreement to merge with AT&T. Contact Information Jim Schirmer MediaOne (303) 858-3403 jschirmer@mediaone.com Ellen East Cox Communications (404) 843-5281 ellen.east@cox.com