Jones Intercable to purchase Cable TV systems from partnerships; announces plans to trade the systems with Time Warner Entertainment-Advance Newhouse Partnership; Trade will add subscribers to Jones' Washington, D.C. metropolitan cluster.

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Aug. 14, 1995--Jones Intercable Inc. (NASDAQ:JOIN and JOINA) announced that it has agreed to acquire cable television systems serving the communities of Tampa, Fla.; Orangeburg, S.C.; and Carmel, Ind., from partnerships of which Jones Intercable or one of its subsidiaries is the general partner and manager.

In a separate transaction, Jones has agreed to trade the acquired systems to Time Warner Entertainment-Advance/Newhouse Partnership (TWEAN) in return for cable television systems serving communities in and around Prince George's County, Md., and Reston (Fairfax County), Va.

The TWEAN transaction will add approximately 85,000 subscribers to Jones' Washington, D.C./Baltimore-area cluster of owned or managed systems and, along with previously announced acquisitions, will bring the total number of basic subscribers in the area to approximately 300,000.

Acquisition of Partnership Systems

In summary, Jones Intercable has signed agreements to acquire:

-- the cable television system operating in the City of Tampa, Fla., which serves approximately 62,500 individual residential subscribers, from Cable TV Fund 12-BCD Venture for $110,395,667 in cash, subject to customary closing adjustments.

-- the cable television system operating in the Cities of Orangeburg and Cordova and the County of Orangeburg, all in South Carolina, which serves approximately 12,000 individual residential subscribers, from Jones Cable Income Fund 1-B Ltd. for $18,347,667 in cash, subject to customary closing adjustments; and

-- the cable television systems operating in Carmel, Fortville, Ingalls, Zionsville, Boone County, Hamilton County, Hancock County and Madison County, all in Indiana, which serve approximately 18,500 individual residential subscribers, from IDS/Jones Growth Partners 87-A Ltd. for $44,235,333 in cash, subject to customary closing adjustments.

The purchase of each of these systems is subject to a number of closing conditions, but is not contingent on the closing of the trade with TWEAN. The transactions are each expected to close by the end of 1995.

Trade of Systems to TWEAN

The agreement with Time Warner Entertainment-Advance/Newhouse Partnership (TWEAN) calls for Jones Intercable to trade the Tampa, Orangeburg and Carmel cable television systems, and pay $3.5 million in cash, to TWEAN for the cable systems owned by TWEAN that operate in Capitol Heights, Cheltenham, District Heights, Fairmount Heights, Forest Heights, Morningside, Seat Pleasant, Upper Marlboro, Andrews Air Force Base, and portions of Prince George's County, all in Maryland, and Reston (Fairfax County), Virginia. The TWEAN systems serve approximately 85,000 equivalent basic subscribers.

The TWEAN trade is subject to a number of closing conditions, including obtaining the consent of local franchising authorities. The TWEAN transaction is expected to close by the end of 1995.

Earlier this year, Jones Intercable announced the proposed acquisition of cable television systems serving communities in and around Dale City and Manassas, Virginia. These acquisitions, which are also expected to close in 1995, together with the TWEAN trade will increase to approximately 300,000 the number of basic subscribers served by Jones' Washington, D.C./Baltimore-area cluster of owned or managed systems.

"The acquisition of the TWEAN systems will complement the growing base of subscribers that the company has in the Washington, D.C./Baltimore area," said Glenn R. Jones, chief executive officer and chairman of Jones Intercable Inc. "We continue to follow our announced strategy of balanced growth and clustering through acquisitions of strategically located cable systems from limited partnerships and third parties.

"The transaction with TWEAN allows us to increase the number of corporate-owned subscribers served and yet obtain the efficiencies inherent in operating in fewer markets," Mr. Jones added.

Jones Intercable Inc. is one of the ten largest cable television operating companies in the United States. It owns or manages 55 cable systems, serving more than 1.3 million basic subscribers.

CONTACT: Jones Intercable Inc., Englewood

James W. Carlson or Robert W. Hampton, 303/792-3111