Exhibit 99.1

VIRGIN MEDIA — THIRD QUARTER 2010 RESULTS

STRONG FINANCIAL PERFORMANCE

London, England, October 27, 2010 — Virgin Media Inc. (NASDAQ: VMED; LSE: VMED) announces results for the quarter ended September 30, 2010(1).

Revenue growth in all segments drives strong financial performance

·                              Total revenue up 6.4% to £978m

·                  Revenue growth in all areas, including strong growth in both Mobile and Business

·                              Fourth successive quarter of double-digit percentage OCF(2) growth, up 11.0% to £387m

·                              Operating income doubled to £102m from £51m

·                              Free cash flow(3) up 8.6% to £119m; last 12 months FCF up 18.2% versus previous 12 months

Operational performance driven by continued ARPU and customer increases

·                              Cable ARPU up 3.7% to a record £46.38

·                              Cable customers up 1.9% with 14,100 net new cable customers in Q3, up from 8,100 a year ago

·                  Cable gross additions of 236,000 up 10.4%

·                              Triple-play penetration increased to 62.7% and quad-play penetration increased to 11.5%, reflecting focus on bundling

·                              Pre-registration for UK’s fastest widely available broadband opens today; 100Mb broadband service further extends Virgin Media’s speed advantage

Continued improvement of Company’s capital structure

·                              Accelerated Stock Buyback programme of £125m completed; Board authority remains for £250m of further buybacks

·                              Effective increase of Convertible strike price from $19.22 to $35

·                  Execution of conversion hedges against 90% of convertible notes

·                  Would reduce future dilution by 21m shares, assuming $35 stock price in 2016

·                  Existing convertible noteholders unaffected

Neil Berkett, Chief Executive Officer of Virgin Media, said: “Our continued focus on exploiting our strategic advantages with the resulting multiple opportunities for revenue growth, as well as robust financial discipline has delivered another strong financial performance this quarter. We are extending our lead in broadband even further with the imminent availability of 100Mb as consumer demand for consistently faster broadband grows.

“Our confidence in our long term ability to maximize our advantages to deliver strong free cash flow means we have been able to begin to execute on our plans to return capital to stockholders. We have completed an initial buyback of £125m of stock and retain the authority for a further £250m in the coming months. Today, we have also announced, the execution of conversion hedges which should further benefit stockholders by effectively increasing the strike price of our convertible notes to $35.”

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(1) Comparisons of financial and operating statistics are to the third quarter of 2009, unless otherwise stated.

(2) OCF is operating income before depreciation, amortization, goodwill and intangible asset impairments and restructuring and other charges and the most directly comparable GAAP measure is operating income.  OCF is a non-GAAP financial measure. Please see Appendix F for a reconciliation of non-GAAP financial measures to their nearest GAAP equivalents.

(3) Free Cash Flow is OCF reduced by purchase of fixed and intangible assets, as reported in our statements of cash flows, and net interest expense, as reported in our statements of operations, and the most directly comparable GAAP measure is net cash provided by operating activities. FCF is a non-GAAP financial measure. Please see Appendix F for a reconciliation of non-GAAP financial measures to their nearest GAAP equivalents.

Contacts

Investor Relations:

Richard Williams:                    +44 (0) 20 7299 5479 / richard.williams@virginmedia.co.uk

Sam Horrocks:     +44 (0) 20 7299 5353 / sam.horrocks@virginmedia.co.uk

Media:

Tavistock

Matt Ridsdale:     +44 (0) 20 7920 3150 / mridsdale@tavistock.co.uk

Lulu Bridges:                           +44 (0) 20 7920 3150 / lbridges@tavistock.co.uk

Conference call details

There will be a webcast and conference call for analysts and investors today at 8am ET / 1pm UK time. The presentation can be accessed live via webcast on our website, www.virginmedia.com/investors. Analysts and investors can dial in to the presentation by calling +1 718 354 1390 in the United States or +44 (0) 20 7806 1960 for international access, passcode “Virgin Media Inc.” for all participants. The teleconference replay will be available for one week beginning approximately two hours after the end of the call until Wednesday, November 3, 2010. The dial-in replay number for the US is: +1 347 366 9565 and the international dial-in replay number is: +44 (0)20 7111 1244 passcode: 6337468#.

Forward-looking statements

This release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Please refer below to “Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995” for a more detailed discussion regarding these forward-looking statements.

Adjusted Financial Statements

The financial statements for prior periods have been adjusted to reflect the disposal of VMtv on July 12, 2010. The results of our Content segment are treated as discontinued operations.

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SUMMARY FINANCIAL RESULTS (unaudited)

CONSUMER OPERATIONS STATISTICS (‘000s)

Notes

(1) OCF and FCF are non-GAAP financial measures.  See Appendix F for a reconciliation of our non-GAAP financial measures to their nearest GAAP equivalents.

(2) The operating statistics relating to prepay mobile are included within Mobile Operation Statistics, as described elsewhere in this earnings release.

(3) See Appendices C2 and C4 for definitions of Cable and Mobile ARPU respectively.

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OVERVIEW

Delivering strong financial performance

Strong revenue growth in all areas drove total revenue to £978m, up 6.4% compared to the previous year. Combined with continued cost control, this resulted in OCF increasing by 11.0% to £387m.

Operating income doubled to £102m from £51m. Free cash flow increased by 8.6% to £119m. Net cash provided by operating activities was up 13.4% at £320m.

Driving cable growth

Cable revenue growth of 5.6% was driven by a 3.7% increase in ARPU and 1.9% increase in the size of our cable customer base. Cable net additions in the quarter improved to 14,100 compared to 8,100 a year ago. Despite significantly increased marketing activity from some of our competitors during the quarter as the football season started, we maintained our financial discipline and elected not to aggressively increase our own marketing spend to counter this. As a result, churn increased slightly to 1.6% but, even with our measured approach, our gross cable additions showed strong growth and were up 10.4% in the quarter.

We opened 14 new retail outlets during the quarter and continued with the expansion of our unique fibre optic network, passing a further 42,000 homes.

Leading the next generation “broadband revolution”

Our total broadband base grew by 35,100 to 4.24m in the quarter. The quality and value of this base continued to increase as consumers seek faster and more reliable speeds. Over 700,000 customers now subscribe to our market leading 20Mb or 50Mb cable broadband services. This figure is up 41% year-on-year and means these customers now represent 18% of our total cable broadband base. It also includes over 90,000 50Mb customers which is up 24% compared to the previous quarter.

From today, existing and potential customers will be able to pre-register for our new 100Mb broadband service, capable of delivering speeds of up to almost ten times the UK average. This service will be rolled out across the network throughout 2011 but will be first available in parts of London, the south east and Yorkshire from the start of December 2010 and we continue to trial 200Mb speeds in customers’ homes. In addition, we have begun to upgrade upload speeds for all of our cable broadband customers to create a consistent 10:1 download to upload ratio across every tier.

Strengthening “Digital Entertainment”

We grew our TV base by 14,800 in the quarter to 3.77m customers. These viewers continue to enjoy our market-leading video-on-demand (VOD) service with well over half of them using and watching VOD as part of their everyday lives.

We have continued to aggressively expand our High Definition (HD) offering. Just over a year ago, we carried one HD channel, but we have increased this to 28 currently, including Sky Sports HD and Sky Movies HD. Basic HD channels are available to customers for no additional monthly fee and, as a result, our HD base is growing rapidly. We added 222,100 HD customers in the quarter to reach an installed base of 1.4m and HD penetration of 38%. During the quarter, we also added over 100,000 Sky premium subscribers to reach a total of 725,000 which included 52,000 customers who have subscribed to Sky Sports HD and/or Sky Movies HD since launch in August.

In September we launched the UK’s first 3D VOD TV service to be commercially available to millions of homes. We have an exclusive partnership in the UK with Samsung Electronics to explore and develop opportunities in the 3D marketplace; including expanding the number of our retail stores where 3D is showcased.

Work continues with TiVo to develop and launch our next generation TV service, which is on track to be installed in the first homes in the fourth quarter.

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Exploiting Mobile

Mobile revenues were up 7% as we continued to grow our mobile contract subscriber base which increased by 32% in the last twelve months to 1.15m. Mobile ARPU increased by 12% due to the increased contract mix. Our strategic focus is to cross-sell mobile contracts into our cable customer base and we now have 516,500 cable households with one or more contract mobiles. Quad-play penetration, which also includes prepay, increased to 11.5%, compared to 10.6% a year ago.

Growing Business Data

Business revenues were up 6% driven mainly by continued strong growth in data revenues as we continued to exploit our strategic network advantage. Key data contracts were signed during the quarter with Kirklees Metropolitan Borough Council and East London NHS Foundation Trust.

The quarter also saw the launch of our first Virgin Media Business branded proposition, giving customers unrestricted, dedicated internet access for a flat fee.

Capital Return Programme Update

In our Q2 2010 financial results, we announced an initial £700m Capital Return programme and a target leverage ratio of approximately 3.0x Net Debt to OCF over the next two to three years.

During this quarter, we completed an Accelerated Stock Buyback to purchase £125m of our common stock. As a result, we repurchased approximately 9.3m shares of common stock at an average purchase price of $20.78 per share. We retain the authority for a further £250m of buybacks until August 2011.

Today, as the next step in our Capital Return programme, we have announced the execution of conversion hedges to effectively increase the strike price on 90% of our Convertible Senior Notes due 2016 from $19.22 to $35. The hedges are intended to reduce the potential dilution associated with the notes. For illustrative purposes, and assuming 90% conversion upon maturity in 2016, the effect of this transaction would reduce the number of shares issued by the Company by 21m assuming the notes are settled in stock and the stock price is $35 at conversion.

Assuming a stable stock price of $24 during the hedge period and stable foreign exchange rates, the cost of the conversion hedges would be approximately £190m to be paid in the fourth quarter of 2010. Assuming a November 2016 share price of $35, dilution of 21m shares would have been avoided at a cost of approximately $14.23 per share.

The conversion hedges do not change the terms of the notes from a noteholder perspective, and they do not alter the conversion date of November 15, 2016.

For further details on our Capital Return programme and the conversion hedges, please refer to page 8.

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RESULTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2010

Note: Unless otherwise stated, all comparisons of financial and operating statistics are to the third quarter of 2009.

TOTAL REVENUE

Total revenue in the third quarter was up 6.4% to £978.4m. Revenue movements are discussed further below.

CONSUMER SEGMENT

Cable

Cable revenue in the third quarter was up 5.6% at £662.6m reflecting 3.7% growth in cable ARPU to £46.38 and 1.9% growth in the cable customer base.

Gross cable customer additions in the third quarter were up 10.4% to 236,000. Average monthly churn increased from 1.5% to 1.6% due to intense marketing activity by some of our competitors. The overall cable customer base increased to 4.78m, with net additions of 14,100 for the quarter which compares to 8,100 a year ago. Successful bundling and cross-sell was reflected in continued growth in triple-play, which reached a record 62.7% compared to 60.1% a year ago, and quad-play penetration of 11.5% compared to 10.6% a year ago.

Cable Broadband

Broadband net additions were 33,800 compared to 39,000 in the same quarter last year. The focus on up-sell has significantly improved tier mix and the number of customers on our top two broadband tiers (20Mb and 50Mb) has increased by 40.7% to 708,300 as more customers demand superfast broadband. At the end of the quarter, we had 91,600 50Mb customers, up by 23.8% compared to the previous quarter.

Television

Total TV net additions were 14,800 in the quarter compared to 37,000 in the same quarter last year. On a monthly basis, 59% of our TV customers use VOD. Average monthly VOD views were 73m, up 10.8%. During the quarter, we added 222,100 HD customers to reach an installed base of 1.42m. This represents 37.8% penetration of TV customers.

Telephony

Cable telephony net disconnects for the quarter were 14,300, compared to net additions of 16,000 a year ago. The percentage of telephony subscribers to our unmetered tiers (or Talk plans) increased to 56% compared to 54% a year earlier.

Mobile

Mobile revenue in the quarter was £143.5m, up 7.0%, reflecting ARPU growth driven by the increased number of contract customers. We have continued to concentrate on selling mobile services to our existing cable customer base and 706,000 of our cable customers now take at least one mobile phone service from us with 516,500 taking at least one contract mobile.

Contract net additions for the quarter were 57,500 and at the quarter-end we had 1,154,700 contract subscribers representing 38% of our total mobile subscribers and growth of 32% in contract subscribers in the last twelve months.

The number of prepay net disconnections in the quarter was 63,900 compared to 126,200 in the same quarter last year. The loss of prepay subscribers reflects the competitive market and our strategy of focusing on contract due to the higher churn, low tariffs and lower overall lifetime value of prepay customers.

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Non-cable

Non-cable revenue was up 39.6% at £20.1m due to the launch of wholesale line rental in August 2009 which allows us to sell a telephone line rental bundled with our broadband and voice products. Customer net additions during the quarter were 1,400 compared to 9,700 in the same quarter last year.

BUSINESS SEGMENT

Business revenue was £152.2m, up 6.2%, mainly due to strong growth in data and wholesale revenues. Retail data revenue was up 10.3% to £61.1m, reflecting our successful strategy of focusing on higher margin data revenue and increasing demand for our data products. Wholesale revenue was up 12.8% at £40.6m mainly due to increased carriage of mobile voice traffic. Retail voice revenue was down 7.0% to £41.2m as a result of declining telephony usage and pricing. Local Area Network (“LAN”) Solutions revenue was up 22.4% at £9.3m due to increased equipment sales and project revenues.

UKTV JOINT VENTURE

Virgin Media owns 50% of the companies that comprise UKTV, a group of joint ventures formed with BBC Worldwide. UKTV produces a portfolio of television channels based on the BBC’s programme library and other acquired programming which are carried on Virgin Media’s cable platform and also on satellite. Some channels are also available on Freeview.

Virgin Media accounts for its interest in UKTV under the equity method and recognized a share of UKTV’s net income of £6.7m in the quarter and £20.2m for the year-to-date. UKTV’s financial results are not consolidated in Virgin Media’s revenue, operating income or OCF. Virgin Media’s investment in UKTV is carried on the balance sheet at September 30, 2010 at £349m, which includes loans to fund its operations totalling £113m.

Virgin Media received £2.6m from UKTV in the form of loan capital repayments during the quarter and £15.0m in the year-to-date. Virgin Media also received cash payments from UKTV in the quarter totaling £9.1m, and £23.9m in the year-to-date, which consisted of dividends, interest payments and payments for consortium tax relief.

OPERATING COSTS AND SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (SG&A)

Operating costs (exclusive of depreciation and amortization) were £395.6m in the quarter, up 5.6% compared to total revenue growth of 6.4%. Consequently, total gross margin percentage(1) in the quarter improved to 59.6% from 59.3% in the third quarter last year.

SG&A was flat at £195.5m, as increases in marketing and employee and outsourcing costs, were offset by savings in other areas. SG&A as a percentage of revenue fell from 21.3% to 20.0%.

(1) Total gross margin percentage is defined as total revenue less total operating costs, divided by total revenue.

OPERATING INCOME BEFORE DEPRECIATION, AMORTIZATION, GOODWILL AND INTANGIBLE ASSET IMPAIRMENTS AND RESTRUCTURING AND OTHER CHARGES (OCF)

OCF(2) increased to £387.3m in the quarter, up 11.0% mainly due to the growth in revenue. As a result, OCF margin(2) (OCF as a percentage of revenue) improved to 39.6% from 38.0%.

(2) OCF and OCF margin are non-GAAP financial measures. See Appendix F for reconciliations of non-GAAP financial measures to their nearest GAAP equivalents.

OPERATING INCOME

Operating income was £101.7m, up from £51.1m, mainly due to increased revenue and lower amortization. Operating income as a percentage of revenue was 10.4%.

Restructuring and other charges of £4.5m were incurred during the quarter compared to £1.6m in the same quarter last year.

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Depreciation expense was up 3.9% at £244.4m primarily as a result of increases in depreciation in respect of new fixed assets, partially offset by fixed assets becoming fully depreciated. Amortization expense was £36.7m, down 39.8% mainly due to the cessation of amortization of certain intangible assets that became fully amortized in 2009.

NET INCOME FROM CONTINUING OPERATIONS

Net income from continuing operations was £27.6m compared to a loss of £63.3m a year ago. The improvement was mainly due to higher operating income and foreign currency gains, partially offset by losses on derivative instruments.

DISPOSAL OF VMTV

The disposal of VMtv completed on July 12, 2010 and BSkyB paid an initial £105m on that date. In September, the disposal received full UK regulatory clearance and consequently we received a further purchase price installment of £55m from BSkyB. The gain on disposal of £14.4m is net of deferred tax expense of £13.2m. The disposal of this business did not result in cash tax paid.

CAPITAL EXPENDITURE

Fixed asset additions (accrual basis)(3) were up 15.5% at £174.3m mainly due to increases in spend for both consumer premise equipment and scaleable infrastructure. CPE spend increased due to greater demand for HD boxes and broadband routers. Scaleable infrastructure increased primarily due to capacity upgrades.

The total purchase of fixed assets and intangible assets was up 25.0% at £150.5m mainly due to increased fixed asset additions (accrual basis).

(3) Fixed asset additions (accrual basis) is a non-GAAP financial measure. See Appendix F for reconciliations of non-GAAP financial measures to their nearest GAAP equivalents.

FREE CASH FLOW

Free Cash Flow(4) was up 8.6% to £119.4m mainly due to increased OCF, partially offset by higher purchase of fixed assets and intangible assets. Net cash provided by operating activities was up 13.4% at £319.6m.

(4) Free Cash Flow is a non-GAAP financial measure. See Appendix F for reconciliations of non-GAAP financial measures to their nearest GAAP equivalents.

DEBT

As of September 30, 2010, long term debt, net of £218m current portion, was £5,765m. Total debt consisted of £1,675m outstanding under our Senior Credit Facility, £2,055m of Senior Notes, £1,490m of Senior Secured Notes, £528m of Convertible Senior Notes and £236m of capital leases and other indebtedness. Cash and cash equivalents were £610m.

Interest expense in the third quarter was £118.2m, down 1.5%.

Capital Return programme update

Following our refinancing actions earlier in the year and on the basis of our strong cash flows, we are managing Virgin Media’s capital structure proactively in a manner which delivers appropriate returns to investors while aiming to ensure we retain suitable investment in the business to sustain our competitive advantage.

To that end, we are targeting a leverage ratio of Net Debt to OCF of approximately 3.0x over the next two to three years. We believe this target leverage ratio will allow for meaningful flexibility to reinvest in and expand our business, and will provide for appropriate strategic and financial flexibility, strong credit quality and access to the capital markets, while maximizing the total returns available to our stockholders through stock price appreciation.

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We will seek to achieve this leverage ratio target by means of a combination of ongoing cash generation and our intended range of specific capital optimization actions, namely (i) an initial application of up to £700m, in part towards transactions relating to our equity and debt, including related derivative transactions; and (ii) scheduled debt amortization of £525m between 2011 and 2013.

As a core component of this programme, our Board of Directors has authorized the repurchase of up to £375m of our common stock by August 2011. We intend to implement this stock buyback programme through open market and/or privately negotiated transactions, which may include derivative transactions. We are maintaining our current dividend policy, which we will continue to review over time.

As a first step towards the implementation of this planned repurchase of £375m of common stock, we completed an Accelerated Stock Buyback programme to purchase £125m of our common stock during the third quarter. As a result, we repurchased approximately 9.3m shares of common stock at an average purchase price per share of common stock of $20.78. At the end of the quarter we had approximately 322m shares outstanding.

The balance of the £700m target, after taking into account the total £375m common stock programme, may be used in transactions relating to our debt and convertible debt, which may be effected through open market, privately negotiated, and/or derivative transactions.

Today, as the next step in our Capital Return programme, we have announced that we have executed conversion hedges intended to reduce potential dilution associated with our Convertible Senior Notes due 2016 and this will result in an outlay of cash based on our stock price during the initial period whilst the hedge is executed by the counterparties. For holders of Virgin Media common stock, the impact of these conversion hedges is to limit potential dilution of 90% of the notes by raising the effective conversion price from the current level of $19.22 to $35. For illustrative purposes, and assuming 90% conversion at maturity in 2016, the effect of this transaction would offset the number of shares issued by 21.1m assuming the notes are share settled and the stock price is $35 at conversion. This is the maximum potential anti-dilutive benefit and the counterparties would deliver a lesser number of shares if the price exceeds $35. The conversion hedges do not change the terms of the notes from a noteholder perspective, and they do not alter the conversion date of November 15, 2016. Assuming a stable stock price of $24 during the initial period whilst the hedge is being executed and stable foreign exchange rates, the cost of the conversion hedges would be approximately £190m.

The conversion hedges relate to 90%, or $900m, of the outstanding principal amounts of the notes. Hedging 90% of the notes allows for a small proportion of noteholders who seek conversion prior to maturity, subject to the terms of the indenture with no effect on the conversion hedges.

In connection with establishing their initial hedge of the convertible note hedge transactions, the conversion hedge counterparties or their affiliates are expected to purchase shares of our common stock and/or enter into derivative transactions with respect to our common stock during a hedge period immediately following the date hereof. In addition, the counterparties have informed us that they are likely to modify their hedge positions by purchasing or selling shares of our common stock or other of our securities (including the Convertible Senior Notes) in secondary market transactions and/or entering into or unwinding various derivative transactions with respect to our common stock during the remaining term of the notes, and may do so during the observation period relating to conversion of the notes. This activity could also affect the market price of our common stock or the value of the notes, which could affect a noteholder’s ability to convert the notes and, to the extent the activity occurs during the observation period relating to conversion of the notes, it could affect the number of shares and the value of the consideration that a noteholder will receive upon conversion of the notes.

The form of confirmation documenting the conversion hedges will be available as an exhibit to a Form 8-K filing with the SEC, and the description above is qualified by the actual terms of the confirmations.

The open market, privately negotiated and derivative transactions described above may be implemented by our brokers within certain pre-set parameters and purchases may continue during closed periods in accordance with applicable restrictions.  The stock so reacquired will be held in treasury or cancelled.  The derivative transactions could be used to offset the potential dilution on conversion of our convertible debt and, in the event of such transactions, the counterparties may hedge their liabilities through transactions in our common stock.

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“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

Various statements contained in this document constitute “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995. Words like “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy,” and similar expressions identify these forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements or industry results to be materially different from those contemplated, projected, forecasted, estimated or budgeted, whether expressed or implied, by these forward-looking statements. These factors, among others, include:

·                  the ability to compete with a range of other communications and content providers;

·                  the effect of technological changes on our businesses;

·                  the ability to maintain and upgrade our networks in a cost-effective and timely manner;

·                  possible losses of revenues or customers due to systems failures;

·                  the ability to control unauthorized access to our network;

·                  our reliance on third-party suppliers and contractors to provide necessary hardware, software or operational support;

·                  the continued right to use the Virgin name and logo;

·                  the ability to manage customer churn;

·                  general economic conditions;

·                  the ability to provide attractive programming at a reasonable cost;

·                  the ability to implement our restructuring plan successfully and realize the anticipated benefits;

·                  currency and interest rate fluctuations;

·                  the ability to fund debt service obligations and refinance our debt obligations;

·                  the ability to obtain additional financing in the future; and

·                  the ability to comply with restrictive covenants in our indebtedness agreements.

These and other factors are discussed in more detail under “Risk Factors” and elsewhere in our annual report on Form 10-K for the year ended December 31, 2009, or the 2009 Annual Report, as filed with the U.S. Securities and Exchange Commission, or SEC, on February 26, 2010. We assume no obligation to update our forward-looking statements to reflect actual results, changes in assumptions or changes in factors affecting these statements

Non-GAAP Financial Measures

We use non-GAAP financial measures with a view to providing investors with a better understanding of the operating results and underlying trends to measure past and future performance and liquidity. We evaluate operating performance and liquidity based on several non-GAAP financial measures, including (i) operating income before depreciation, amortization, goodwill and intangible asset impairments and restructuring and other charges (OCF), (ii) Free Cash Flow (FCF), (iii) fixed asset additions (accrual basis), and (iv) Net Debt, as we believe these are important measures of the operational strength of our business and our liquidity.

OCF is most directly comparable to the GAAP financial measure operating income. FCF is most directly comparable to the GAAP financial measure net cash provided by operating activities. Fixed asset additions (accrual basis) is most directly comparable to the GAAP financial measure purchase of fixed and intangible assets, as reported in our statements of cash flows.  Net Debt is most directly comparable to the GAAP financial measure long term debt (net of current portion). Since these non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered as substitutes for operating income (loss), net cash provided by operating activities, purchase of fixed and intangible assets and long term debt (net of current portion), respectively.

Please see Appendix F for a discussion of our use of non-GAAP financial measures and reconciliations of OCF, FCF and fixed asset additions (accrual basis) to their nearest GAAP equivalents.

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A) FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in £ millions, except per share data) (unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS

(in £ millions, except par value) (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in £ millions) (unaudited)

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QUARTERLY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in £ millions, except per share data) (unaudited)

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QUARTERLY CONDENSED STATEMENTS OF CASH FLOWS

(in £ millions) (unaudited)