Time Warner Cable Signs Agreement to Carry Rainbow’s WE: Women’s Entertainment in 10 Million Homes

WE: WOMEN’S ENTERTAINMENT Continues to Rapidly Grow, Reaching 50 Million Homes By Year-End

May 2, 2001, Jericho, NY – Rainbow Media Holdings, Inc. has signed an extensive distribution deal with Time Warner Cable to carry WE: WOMEN’S ENTERTAINMENT, it was announced today by Kate McEnroe, President of AMC Networks. The multi-year agreement will make WE: WOMEN’S ENTERTAINMENT available in 10 million homes on Time Warner Cable, the nation’s second largest cable operator. This deal brings the total subscriber count of WE: WOMEN’S ENTERTAINMENT to 50 million, with 32 million viewing subscribers, by the end of 2001.

Time Warner Cable systems will gradually roll out WE: WOMEN’S ENTERTAINMENT with full distribution to the committed 10 million homes expected to be completed by fourth quarter 2002. Time Warner Cable serves major markets including New York City, Los Angeles, Houston, Tampa and Orlando. WE: WOMEN’S ENTERTAINMENT is one of the businesses represented in a new series of Cablevision common stock — Rainbow Media Group tracking stock (NYSE:RMG) — that began trading on the NYSE on March 30.

“The rebranding of WE: WOMEN’S ENTERTAINMENT has generated tremendous momentum from the cable industry and consumers,” said Kate McEnroe, President of AMC Networks. “Having the support of Time Warner is a gratifying result of all the efforts we put into rebuilding the network. With this launch, millions more women will have access to our extensive film library and original programming – which inspires, shows life’s possibilities and covers the interests of the millennium woman.”

In January, Rainbow changed the name of ROMANCE CLASSICS to WE: WOMEN’S ENTERTAINMENT, adding a slate of original programs to its line-up in the shift from a category service to a general entertainment brand for women. Since then, and in addition to Time Warner Cable, the company has signed distribution deals with two other MSOs – Adelphia Cable and Charter Communications. Both systems began rolling out WE: WOMEN’S ENTERTAINMENT to 80% of their subscriber bases this year.

Also after the relaunch of the network, Johnson & Johnson signed on as the exclusive sponsor, a deal that extends through third quarter 2002. Beginning fourth quarter 2002, WE: WOMEN’S ENTERTAINMENT will become fully ad supported. “Being carried on Time Warner Cable, which serves major markets, is key to our strategy as WE: WOMEN’S ENTERTAINMENT gets set to participate in the upfront marketplace in 2002,” added McEnroe. “Women are the number one opportunity as they make 80% of all purchasing decisions, and now advertisers can connect with that valuable customer through our audience.”

WE: WOMEN’S ENTERTAINMENT gives women a chance to relax and a way to recharge through entertainment that connects them on an emotional level. WE: WOMEN’S ENTERTAINMENT features the largest collection of women’s interest films, inspiring original series and topical specials.

WE: WOMEN’S ENTERTAINMENT is owned and managed by Rainbow Media Holdings, Inc. A subsidiary of Cablevision Systems Corporation (NYSE:CVC) and NBC, Rainbow manages American Movie Classics, WE: Women’s Entertainment, Bravo, The Independent Film Channel, MuchMusic USA, Rainbow Sports, News 12 Networks and MetroChannels as well as the Rainbow Advertising Sales Corporation and Rainbow Network Communications. In addition, Rainbow is a fifty-percent partner in FOX Sports Net. A new series of Cablevision common stock — Rainbow Media Group tracking stock (NYSE:RMG) — began trading on the NYSE on March 30th. The assets that comprise Rainbow Media Group tracking stock include: Rainbow’s five national networks, the company’s interest in the national service FOX Sports Net, and Rainbow’s 5 regional sports channels outside of the New York market, and Rainbow Network Communications.

This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of Cablevision Systems Corporation and its business, operations, financial condition and the industry in which it operates and the factors described in Cablevision Systems Corporation’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and its Proxy Statement, dated October 10, 2000, as supplemented, including the section entitled “Risk Factors” contained therein. Cablevision Systems Corporation disclaims any obligation to update the forward-looking statements contained herein.


Jennifer Geisser