Cablevision Cash Flow Rises 11% in 4Q

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Woodbury, N.Y. -- Cablevision Systems Corp. said its
operating cash flow rose 11 percent on a pro forma basis in the fourth quarter, while
revenue rose 8 percent.

Cablevision said its cash flow rose to $121.5 million in
the period -- an 11 percent rise after adjusting for various acquisitions and asset sales.

For the full year, pro forma cash flow rose 14 percent, to
$454.8 million. Pro forma revenue rose 8 percent in the quarter, to $634.3 million, and it
rose 11 percent for the year, to $1.9 billion. The company pointed to results from its
cable, Rainbow Media Holdings Inc. and Cablevision Lightpath subsidiaries as contributing
to the double-digit cash-flow growth.

Cablevision reported net income of $182.1 million, or $7.28
per share of stock, including a one-time gain of $370 million, compared with a loss of
$134.3 million ($5.40 per share) in the same period a year ago.

During the year, Cablevision added 78,000 subscribers from
internal growth -- a 3.2 percent annual rate. The MSO ended the year with 2.8 million
subscribers on a consolidated basis.

Cablevision's stock price closed last Thursday at
$94.19, down 6 cents per share.

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