TELEWEST ACTION GROUP

LONDON (AFX) - NTL Inc, the debt-laden cable television group, said it has
entered into a seven-year 500 mln usd exit financing deal with its bondholders.
In a recent filing, NTL said the exit facility, which will be evidenced by
senior secured notes, will mature on Jan 1, 2010.
Subscribers of the notes will be eligible to buy shares of NTL once it
emerges from the Chapter 11 bankruptcy protection.
In the same document, NTL confirmed that Morgan Stanley, one of the advisers
to the group on its restructuring, is suing it for 11.4 mln usd.
"Such claims are alleged in respect of advisory fees for financing
commitments made in 1999," it said.
NTL said it has 120 days to reject the claims as it believes "it has grounds
for doing so."