Cablevision Systems Corporation Names Quadrangle Group's Steven Rattner to Board of Directors.

Business Editors

BETHPAGE, N.Y.--(BUSINESS WIRE)--March 17, 2003

Cablevision Systems Corporation (NYSE: CVC) today announced that Steven Rattner, Managing Principal of Quadrangle Group LLC, a private investment firm that invests in mature and high-growth media and communications companies, has been elected to Cablevision's Board of Directors, effective immediately.

Mr. Rattner's appointment increases the total number of directors to 15.

"Steve Rattner is a seasoned and well-regarded executive in the field of media and communications who brings a wealth of experience to Cablevision's board. We welcome him and are certain that he will be a wonderful asset to the company," said Charles F. Dolan, chairman of Cablevision Systems Corporation.

Mr. Rattner, 50, serves as the Managing Principal of Quadrangle Group. Prior to the formation of Quadrangle in March 2000, Mr. Rattner served as Deputy Chairman and Deputy Chief Executive Officer of Lazard Freres & Co. In addition to his management responsibilities, Mr. Rattner founded the firm's Media and Communications Group and was involved in a number of the industry's largest and most important transactions. Mr. Rattner currently serves on the Board of Directors for Pathfire, Inc., Publishing Group of America and MusicNet and on the Management Committees of Access Spectrum, LLC and Global Energy Decisions, LLC. He is deeply involved in public policy matters and has served on a number of public commissions and committees, including the International Monetary Fund Advisory Committee, the President's Commission to Study Capital Budgeting and the International Competition Policy Advisory Committee.

Mr. Rattner plays an active role in a number of philanthropic organizations including his position as Chairman of the Educational Broadcasting Corporation, which operates New York's two public television stations, Thirteen and WLIW. He is also a Trustee of the Metropolitan Museum of Art, and the Brookings Institute. For Brown University, Mr. Rattner is Chairman of the Budget and Finance Committee and a Fellow. Mr. Rattner graduated in 1974 from Brown University with honors in economics and was awarded the Harvey Baker Fellowship.

Cablevision Systems Corporation is one of the nation's leading entertainment, media and telecommunications companies. In addition to its broadband, cable, Internet and telephone offerings, the company owns and operates Rainbow Media Holdings, Inc. and its networks; Madison Square Garden and its teams; and, Clearview Cinemas. In addition, Cablevision operates New York's famed Radio City Music Hall. Additional information about Cablevision Systems Corporation is available on the Web at www.cablevision.com.