1515thth Annual AnnualSmith Barney CitigroupSmith Barney Citigroup

Entertainment, Media & Entertainment, Media & Telecommunications ConferenceTelecommunications Conference

January 11, 2005January 11, 2005

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Safe Harbor Statement

Any statements in this presentation that are not historical facts are forward-Any statements in this presentation that are not historical facts are forward-

looking statements. The words “plan”, “believe”, “expect”, “anticipate”, looking statements. The words “plan”, “believe”, “expect”, “anticipate”,

“estimate” and other expressions that indicate future events and trends identify “estimate” and other expressions that indicate future events and trends identify

forward-looking statements. These forward-looking statements are subject to forward-looking statements. These forward-looking statements are subject to

certain risks and uncertainties that could cause actual results to differ materially certain risks and uncertainties that could cause actual results to differ materially

from historical results or those anticipated. Factors that could have a material from historical results or those anticipated. Factors that could have a material

and adverse impact on actual results are described in the reports and and adverse impact on actual results are described in the reports and

documents Mediacom files from time to time with the Securities and Exchange documents Mediacom files from time to time with the Securities and Exchange

Commission. Mediacom undertakes no obligation to publicly release the results Commission. Mediacom undertakes no obligation to publicly release the results

of any revisions to these forward-looking statements to reflect events or of any revisions to these forward-looking statements to reflect events or

circumstances after today or to reflect the occurrence of unanticipated events.circumstances after today or to reflect the occurrence of unanticipated events.

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Use of Non-GAAP Financial MeasuresThis presentation includes the financial measures “operating income before This presentation includes the financial measures “operating income before depreciation and amortization,” “unlevered free cash flow” and “free cash depreciation and amortization,” “unlevered free cash flow” and “free cash flow”, which are not determined in accordance with generally accepted flow”, which are not determined in accordance with generally accepted accounting principles (GAAP) in the United States. The Company defines accounting principles (GAAP) in the United States. The Company defines unlevered free cash flow as operating income before depreciation and unlevered free cash flow as operating income before depreciation and amortization less capital expenditures, and free cash flow as operating amortization less capital expenditures, and free cash flow as operating income before depreciation and amortization less interest expense, net and income before depreciation and amortization less interest expense, net and capital expenditures. capital expenditures.

Any applicable reconciliation of historical non-GAAP financial measures Any applicable reconciliation of historical non-GAAP financial measures included in this presentation to the most directly comparable GAAP included in this presentation to the most directly comparable GAAP financial measures is available at the Press Releases link in the Investor financial measures is available at the Press Releases link in the Investor Relations section of the Company’s website at www.mediacomcc.com. Relations section of the Company’s website at www.mediacomcc.com. The Company is unable to reconcile operating income before depreciation The Company is unable to reconcile operating income before depreciation and amortization, unlevered free cash flow and free cash flow to their most and amortization, unlevered free cash flow and free cash flow to their most directly comparable GAAP measures on a forward-looking basis primarily directly comparable GAAP measures on a forward-looking basis primarily because it is impractical to project the timing of certain items, such as the because it is impractical to project the timing of certain items, such as the initiation of depreciation relative to network construction projects, or initiation of depreciation relative to network construction projects, or changes in working capital.changes in working capital.

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Mediacom Highlights

Growing ARPU and expanding RGU penetration Growing ARPU and expanding RGU penetration despite intensified video competitiondespite intensified video competition

Attractive growth prospects from Video/Data/ Attractive growth prospects from Video/Data/ Voice triple playVoice triple play

Normalized CAPEX leads to increasing levels of Normalized CAPEX leads to increasing levels of Free Cash FlowFree Cash Flow

Flexible capital structure with substantial Flexible capital structure with substantial liquidity positionliquidity position

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Our Position Today

Fiber-rich broadband networkFiber-rich broadband network Regional clusters facilitate new product launchesRegional clusters facilitate new product launches

Future capex mostly success-basedFuture capex mostly success-based

Facing intensified video competitionFacing intensified video competition DBS local-into-local now covers 91% of our marketsDBS local-into-local now covers 91% of our markets

Aggressively introducing advanced video products Aggressively introducing advanced video products Widespread rollout of VOD, SVOD, HDTV and DVR by YE 2005Widespread rollout of VOD, SVOD, HDTV and DVR by YE 2005

Redefining and expanding our market opportunityRedefining and expanding our market opportunity Continuing growth in RGUs with revenue diversificationContinuing growth in RGUs with revenue diversification

Significant opportunities in residential and commercial dataSignificant opportunities in residential and commercial data

Launching VoIP telephone service in 1H 2005Launching VoIP telephone service in 1H 2005

Cedar Rapids

Moline

Minneapolis

Charleston

Springfield

Peoria

South BendDes Moines

Carbondale

MN

WI

IA

IL IN

The Power of the ONE Network…

Northern Network: 1,500,000 Homes

SONET-Ready in 2005

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Northern/Southern Network Reach: 70% of Our Total Homes

…is Beginning to Demonstrate its Potential

Mobile

Pensacola

Albany

Valdosta

Tallahassee

MS

FL

GAAL

Southern Network: 400,000 Homes

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Growing ARPU Despite Intensified Video Competition

15%28%

62%

91%

1,595 1,5921,543

1,461

YE 2001 YE 2002 YE 2003 Q3 2004

DBS Local-into-Local Coverage Basic subs (000's)

Video ARPU $40.23 $43.17 $45.90 $47.20Total ARPU $44.54 $50.10 $55.75 $58.95

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Video Service Platform is Complete

AvailabilityAvailability

(% of digital customers)(% of digital customers) VODVOD DVRDVR HDTVHDTV

YE03YE03 50%50% -- 70%70%

YE04 YE04 65%65% 98%98% 77%77%

YE05 YE05 (projected)(projected) 80%80% 100%100% 90%90%

Product Differentiation

Next Year: VoIP Telephony

VoIP: next layer of revenue growthVoIP: next layer of revenue growth Completes the “triple play” bundleCompletes the “triple play” bundle Wireless opportunity = “quadruple play”Wireless opportunity = “quadruple play”

Strategic alliance with SprintStrategic alliance with Sprint Compelling offering to the consumerCompelling offering to the consumer

Primary line service with unlimited local and long Primary line service with unlimited local and long distancedistance

Targeting $40 per monthTargeting $40 per month Seamless and convenient switchSeamless and convenient switch

Moderate levels of success-based capexModerate levels of success-based capex Favorable return on invested capitalFavorable return on invested capital

Mediacom expects to launch VoIP service in 1H 200510

Growth Propelled by New RGU’s

1999 Q3 2004 2007

Video

Data

Voice

Ad Sales

Rev/Basic Sub: $35 $59 $81

RGU/HP 68% 79% 100% Rev/RGU $34 $40 $43

98% 81% 69%

18%

14%

5%5%

8%

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Key Operational Objectives

Redesign/enhance core video strategiesRedesign/enhance core video strategies

Expand breadth and depth of advanced Expand breadth and depth of advanced video servicesvideo services

Strengthen broadband data product lineStrengthen broadband data product line

Prepare for VoIP launch in 1H 2005Prepare for VoIP launch in 1H 2005

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Current Core Video Strategy

Customer AcquisitionCustomer Acquisition Re-price and re-package digital offeringsRe-price and re-package digital offerings Increasing focus on bundling digital service with Increasing focus on bundling digital service with

VOD/SVOD, HDTV and DVRsVOD/SVOD, HDTV and DVRs RetentionRetention

Selected offers and promotions to retain customersSelected offers and promotions to retain customers Greater emphasis on customer care effortsGreater emphasis on customer care efforts

CommunicationCommunication Brand and product differentiationBrand and product differentiation Disrupt/combat negative competitive marketing effortsDisrupt/combat negative competitive marketing efforts

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New Digital Packages Close the Gap

Average Cost - 4 Set HouseholdAverage Cost - 4 Set Household

Mediacom: 2 Digital TVs, 2 Analog TVsMediacom: 2 Digital TVs, 2 Analog TVs

Satellite: All Digital TVs/No Analog OfferedSatellite: All Digital TVs/No Analog Offered

Service1-Pay Starz +

SVOD

2-Pay

Show/HBO + SVOD

3 Pay + SVOD

4 Pay + SVOD

Mediacom $61 $69 - $73 $81 $94

DBS $67 $78 $85 - $88 $92 - $96

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Mediacom On-Demand

195,000

519,000

55%

27%

Jun 2004 Nov 2004

1,200 hours of content1,200 hours of content On-Demand Premium Services: On-Demand Premium Services:

Starz, Showtime and HBO Starz, Showtime and HBO included with premium included with premium subscriptionsubscription

Value-based packagingValue-based packaging Objectives:Objectives:

- Drive digital salesDrive digital sales- Enhance value propositionEnhance value proposition- Lower digital churnLower digital churn- Generate higher incremental Generate higher incremental

transactional revenuestransactional revenues

Case Study: North Central Region

Orders per Month

Usage Rates

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Regaining the Competitive Advantage

DVRDVR No equipment to purchaseNo equipment to purchase No contractNo contract HDTV capableHDTV capable Low entry price ($2.50/month Low entry price ($2.50/month

incremental)incremental) Fully integrated with TV Guide Fully integrated with TV Guide Dual-tuner rollout: December 2004 – Dual-tuner rollout: December 2004 –

January 2005January 2005

HDTVHDTV Mediacom equipment is $2.50/month Mediacom equipment is $2.50/month

vs. Satellite’s vs. Satellite’s $200 plus in upfront equipment $200 plus in upfront equipment chargescharges

HBO HD, Starz HD, Showtime HD HBO HD, Starz HD, Showtime HD included w/premium subscriptionincluded w/premium subscription

Local Broadcast ChannelsLocal Broadcast Channels

Mediacom HD Pack includes:Mediacom HD Pack includes:

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Data Strategy

Launching 5MB residential product for heavy Launching 5MB residential product for heavy usersusers

““Lite” (128k) product introduced in Q2 2004Lite” (128k) product introduced in Q2 2004 Retention toolRetention tool Aimed at dial-up marketAimed at dial-up market

Commercial business opportunitiesCommercial business opportunities Benefits of renegotiated AT&T data contractBenefits of renegotiated AT&T data contract

Lower per customer costs to Mediacom (including “Lite” Lower per customer costs to Mediacom (including “Lite” product)product)

Allows for migration to in-house provisioningAllows for migration to in-house provisioning

Data Penetration Will Accelerate

Our markets, although smaller relative to peers, are demographically in-Our markets, although smaller relative to peers, are demographically in-line with U.S. averages and offer strong opportunities for increasing data line with U.S. averages and offer strong opportunities for increasing data penetrationpenetration

20032003 Household IncomeHousehold Income11

2003 Household2003 Household Internet PenetrationInternet Penetration

U.S. averageU.S. average $42,400$42,400 58%58%22

MCCC market averageMCCC market average $43,800$43,800 52%52%33

Our lower data penetration is largely due to data market launches between two and four Our lower data penetration is largely due to data market launches between two and four years after our peersyears after our peers

1 Source: Nielsen Media Research (based on information from U.S. census).2 Source: IDC (2003).3 Mediacom estimate based on publicly available information and cable system customer surveys.

28.4%23.1%

16.1% 15.1% 13.2% 12.6%

Cablevision Cox Comcast Charter Insight Mediacom

Data Customer Penetration as of Q3 2004

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Mediacom’s VoIP Service Features

Primary line servicePrimary line service Unlimited local and long distanceUnlimited local and long distance Targeting $40 per monthTargeting $40 per month

Consumers switching to Mediacom’s phone Consumers switching to Mediacom’s phone service can:service can: Keep their existing phone numbers and directory Keep their existing phone numbers and directory

listingslistings Utilize their existing telephones and home wiringUtilize their existing telephones and home wiring Access all of the traditional telephone products and Access all of the traditional telephone products and

services (caller ID, call waiting, call forwarding, etc.)services (caller ID, call waiting, call forwarding, etc.) Take comfort in the stability, security and reliability of Take comfort in the stability, security and reliability of

facilities-based providersfacilities-based providers

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Sprint Partnership

Strategic alliance utilizes Mediacom’s advanced digital Strategic alliance utilizes Mediacom’s advanced digital network and Sprint’s national infrastructure and network and Sprint’s national infrastructure and telecommunications expertisetelecommunications expertise

Multi-year agreement with favorable economicsMulti-year agreement with favorable economics Unlimited usage, any distance, flat rateUnlimited usage, any distance, flat rate Sliding scale pricing to MediacomSliding scale pricing to Mediacom

Sprint will assist Mediacom in:Sprint will assist Mediacom in: Switching and termination of traffic to the public switched Switching and termination of traffic to the public switched

telephone network (PSTN)telephone network (PSTN) Delivery of enhanced E911 emergency service, local number Delivery of enhanced E911 emergency service, local number

portability, operator and directory assistanceportability, operator and directory assistance Voicemail and other featuresVoicemail and other features Product developmentProduct development Opportunity to resell Sprint’s wireless servicesOpportunity to resell Sprint’s wireless services

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DBS RBOC ILEC MediacomMediacom

Digital - - Digital

- - - VOD

- - - SVOD

HDTV - - HDTV

- - - Local HDTV

DVR - - DVR

- DSL DSL Modem

- Voice Voice VoIP

RBOC Overlap in Only 65% of Mediacom’s Footprint

Single Platform of Broadband Products

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Dramatic Improvement in FCF

($125) ($177)($225)

($25)

$235

$165

($56) ($37) ($37)$40

$178

$241

$184

$285

$408

2000 2001 2002 2003 2004G

Levered FCF (LFCF) Unlevered FCF (UFCF) Capex

$ in millionsG = Guidance

Substantial NOLs Shelter FCF from Cash Taxes

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YTD 2004 Peer Comparison

Source: Public filings and reports.1 Excludes Hurricane Ivan related charges.

Flexible Capital Structure

Mediacom Broadband LLCSubsidiaries

Senior Debt3 $965Unused Credit Commitments $431Senior Debt/SCF 4.3x

Mediacom Broadband LLC

Senior Notes $400Total Debt/OCF 6.3x

Mediacom LLCSubsidiaries

Senior Debt $656Unused Credit Commitments2 $486Senior Debt/SCF 3.1x

Mediacom LLC

Senior Notes $825Total Debt/OCF1 7.0x

Mediacom Communications Corporation

Convertible Notes $173Total Debt/OCF 7.4xTotal Debt (excl cnvt)/OCF 6.9x

Notes:Notes: Based on Q3 ‘04 data; OCF is annualized and excludes hurricane-related charges.Based on Q3 ‘04 data; OCF is annualized and excludes hurricane-related charges.Dollars in millions.Dollars in millions.11 OCF for Mediacom LLC includes cash investment income.OCF for Mediacom LLC includes cash investment income.22 Proforma for the new credit facility as of 10/21/04.Proforma for the new credit facility as of 10/21/04.33 Includes letters of credit and capital lease obligations (net of carve-outs) for bank covenant purposes.Includes letters of credit and capital lease obligations (net of carve-outs) for bank covenant purposes.

Total Debt:$3.0 Billion

Cost of Debt: 6.7%

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25

New $1.15 Billion Credit Facility

Extended debt maturitiesExtended debt maturities

Enhanced liquidityEnhanced liquidity

Greater covenant headroomGreater covenant headroom

Simplified corporate structure and reportingSimplified corporate structure and reporting

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$0

$250

$500

$750

$1,000

$1,250

$1,500

2005E 2006E 2007E 2008E 2009E 2010E 2011E 2012E 2013E

Convert Senior Notes Bank Debt

Q3 2004Fixed - Floating:

73% - 27%

$ in millions Note: Assumes no repayment of revolver outstanding until required by commitment reduction schedule.

$40.5

$220.5$70.5

$270.5 $206 $238.5

$550

$5.5

$1,406

MCCC Scheduled Debt Maturities

$844$770

$917

$1,100

$437

FYE 2000 FYE 2001 FYE 2002 FYE 2003 Sep-04

Unused Credit Commitments

Credit Availability

Solid track record of preserving liquidity and Solid track record of preserving liquidity and maintaining ample borrowing availabilitymaintaining ample borrowing availability

$ in millions 27

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Summary

Strengthening competitive video positionStrengthening competitive video position

Broadening data business with commercial Broadening data business with commercial accountsaccounts

Seizing VoIP opportunitySeizing VoIP opportunity

Accelerating positive free cash flowAccelerating positive free cash flow

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