Atlantic Broadband Finance, LLC Reports 2005 First Quarter Financial Results and Conference Call.

QUINCY, Mass. -- Atlantic Broadband Finance, LLC ("Atlantic Broadband") reported today financial results for the quarter ended March 31, 2005. The Company will host a conference call at 11:00 a.m. EDT on Thursday May 12, 2005 to review the results.

Results for the three months ended March 31, 2004 represent the system results for the first two months ended February 29, 2004 under Charter management, and for the one month ended March 31, 2004 under Atlantic Broadband management. Also included are the pre-closing corporate overhead costs of Atlantic Broadband incurred during the first two months of 2004 prior to the acquisition closing.

On a combined basis, Atlantic Broadband's total revenue for the three months ended March 31, 2005 was $46.3 million as compared to pro forma $44.0 million for the three months ended March 31, 2004. The increase in revenue was driven mainly by increases in high speed data revenues resulting from significant consumer demand, coupled with an increase in other revenue in conjunction with the change in the reporting of a communications tax pass-through, with the related revenue and offsetting operating expense now being charged through the statement of operations in accordance with generally accepted accounting principles.

For the three months ended March 31, 2005, the Company's operating and selling, general and administrative expenses were $29.1 million, as compared to pro forma $25.9 for the comparable period in 2004. This increase is due to increased programming, insurance and billing expenses resulting from Atlantic's cost structure as compared to similar predecessor expenses for the first two months in 2004, coupled with the offsetting expense for the communications tax pass-through recorded in 2005. The first quarter adjusted EBITDA for the three months ended March 31, 2005 was approximately $17.7 million.

Total debt outstanding at March 31, 2005 was $482.1 million and cash balances were $7.7 million at quarter end. On an annualized basis, the first quarter's pro forma adjusted EBITDA resulted in a total leverage ratio as defined in the Company's credit agreement of approximately 6.83x.

Reconciliation of Net Income (Loss) to Adjusted EBITDA (in thousands):

Three Months
                                                             Ended
                                                        March 31, 2005
                                                         -------------

Combined net income                                              $995

Plus:   Franchise taxes similar to income taxes                    43
        Interest expense, net                                   8,103
        Depreciation and amortization                           9,886
        Non-recurring bank amendment fees                         439
        Non-cash asset retirement obligation expense               15
        Non-recurring transaction related expenses                 27
Less:   FMV adjustment of interest rate swap                    1,819
                                                         -------------

Pro forma adjusted EBITDA                                     $17,689
                                                         -------------

Access to the Conference Call:

To access the conference call, interested parties may dial [phone] and provide the conference ID "Atlantic" to the attendant. A replay will be available through May 26, 2005 by dialing [phone] (no access code is necessary). Participants can also listen to a replay of the call via the Company's website at atlanticbb.com for thirty days following the live event.

Note Regarding Forward-Looking Statements:

Statements in this release that are "forward-looking statements" are based upon current expectations and assumptions, and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation reform Act of 1995. Words of expressions such as "intends", "expects", "expected", "anticipates" or variations of such words and similar expressions are intended to identify such forward-looking statements. Key risks are described in the Company's report filed with the Securities and Exchange Commission (SEC).