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JONES INTERCABLE TO PURCHASE ALEXANDRIA, VA. CABLE TELEVISION SYSTEM

 JONES INTERCABLE TO PURCHASE ALEXANDRIA, VA. CABLE TELEVISION SYSTEM
 ENGLEWOOD, Colo., Sept. 29 /PRNewswire/ -- Jones Intercable Inc. (NASDAQ-NMS: JOIN and JOINA) announced today it has signed a definitive agreement with Jones Intercable Investors L.P. (AMEX: JTV) to acquire its Alexandria, Va. cable television system. Jones Intercable Investors (the Partnership) is a publicly traded master limited partnership for which Jones Intercable is the general partner. Closing of the transaction is expected to occur in October 1992.
 The Partnership owns and operates cable television systems serving Independence, Mo. and Alexandria. The Alexandria cable television system is located about six miles south of Washington, and provides cable television service to approximately 34,300 basic subscribers.
 The purchase price of $73.2 million is the average of three separate, independent appraisals of the property. The cost of the appraisals was incurred by the purchaser, Jones Intercable. Funds remaining from the company's recent $160 million debt offering, as well as bank debt, will be used to make the acquisition. The Partnership is expected to recognize a gain on the sale of the Alexandria cable television system of approximately $49.4 million, or $5.94 per Class A Unit. The Partnership acquired the Alexandria system in November 1986.
 Jones Intercable Investors will retain the majority of the net sales proceeds to retire debt and to cover capital expenditures anticipated in connection with the rebuild and upgrade of its Independence cable television system.
 It is expected that a portion of the sale proceeds will be distributed to Class A Unitholders. The amount of such distribution and the record date will be announced later.
 Jones Intercable is one of the largest cable television operators in the United States. It is also the world's largest cable television management company, managing cable operations for publicly held entities. It manages cable operations in 20 states and three countries.
 For more information, contact the Investor Relations department of Jones Intercable at 303-792-3111 or 9697 E. Mineral Ave., Englewood, CO 80112.
 -0- 9/29/92
 /CONTACT: Kevin P. Coyle or Nancy Reed Long of Jones Intercable, 303-792-3111/
 (JOIN JTV) CO: Jones Intercable Inc.; Jones Intercable Investors L.P. ST: Colorado, Virginia IN: TLS SU: TNM


MC -- DV002 -- 4233 09/29/92 09:02 EDT
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Publication:PR Newswire
Date:Sep 29, 1992
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