Classic Communications Announces Senior Management Changes; CEO J. Merritt Belisle to Leave the Company; James Kofalt Elected Chairman of the Board of Directors.

Business Editors

AUSTIN, Texas--(BUSINESS WIRE)--Dec. 20, 2000

Classic Communications, Inc. (NASDAQ:CLSC) today announced that Chief Executive Officer J. Merritt Belisle has decided to leave the company to pursue other interests.

The company also announced that James A. Kofalt, a current member of Classic's Board of Directors, has been elected Chairman of the Board effective December 19, 2000. In this role, Mr. Kofalt plans to be actively involved in overseeing the operations of Classic. The current Chairman of the Board of Directors, Alberto Cribiore, will serve as Vice Chairman. In a separate announcement, Brera Capital Partners stated that Mr. Kofalt will join Brera as a Partner and he will principally focus on cable-industry related investments.

Speaking on behalf of the Board of Directors, Mr. Kofalt said, "Merritt has played an essential role in the growth of Classic Communications since founding the company eight years ago. Under his leadership, the company has capitalized on new cable technologies and expanded its presence into nearly 600 communities. We are very grateful for his dedication and hard work and wish him future success both personally and professionally."

Mr. Belisle said, "I am very proud of all the team members who have taken Classic from one system in Lubbock County (TX) in 1992 to the 13th largest cable television operator today. As the founder of Classic, I will always do what I can to benefit the company. Jim Kofalt and Dale Bennett, Chief Operating Officer, will provide the company with a strong operational focus going forward. That focus will be of great benefit as Classic continues to roll out digital services."

Mr. Cribiore added, "The Board is pleased that Jim Kofalt has agreed to assume the duties of Chairman. Jim brings nearly 25 years of experience in building and expanding profitable cable businesses, a deep knowledge of technology and a thorough understanding of Classic's operations that will serve the company well at this important point in its development. As Chairman, Jim will focus a considerable amount of time on charting the company's future, a duty for which he is particularly well qualified given his extensive background in cable and his new role as a partner at Brera Capital."

Brera also announced today that, through one of its affiliates, it may, from time to time over the next three months, make purchases of Classic's common stock and subordinated debentures previously issued by Classic Cable, a wholly-owned subsidiary of Classic. These purchases, if made, will be completed through open-market and privately negotiated transactions. Brera also announced that it may propose, in the future, that Classic offer to exchange Classic Cable's debentures for common stock of Classic, depending upon the state of the financial markets and the financial condition of Classic. There can be no assurances as to whether any such purchases will be made, or the timing or amount of any such security transactions, or whether Brera will consider proposing any debt for equity exchange.

Mr. Kofalt has held various management positions at Cablevision Systems Corporation, including Chief Operating Officer from 1990 to 1992 and President and Chief Operating Officer from 1992 to 1994. He is a former Chairman of the Boards of Directors of Campuslink Communications Systems, Inc., from 1995 to 1999, and Optel, Inc., from 1995 to 1996. Mr. Kofalt is currently a Director of PaeTec Corp., Chairman of Correctnet Global Information Solutions, Inc. and a member of the Board of Visitors of the Lineberger Comprehensive Cancer Research Center at the University of North Carolina. Mr. Kofalt received his B.S. from the United States Military Academy at West Point.

Classic Communications, Inc., based in Austin, Texas, provides communications and entertainment services in approximately 600 non-metropolitan markets in Texas, Kansas, Oklahoma, Nebraska, Missouri, Arkansas, Louisiana, Colorado, Ohio and New Mexico. Classic trades on the NASDAQ under the trading symbol "CLSC."

Brera Capital Partners is a $680 million private equity investment fund based in New York that invests in a very limited number of companies in a few select industries, including telecommunications and media. Brera Capital Partners is an indirect holder of approximately 37% of Classic's common equity with voting rights for approximately 74% of the company's voting securities.