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Time Warner Telecom Announces Closing of Secondary Common Stock Offering By Principal Stockholders and Exercise of Over-Allotment Option

September 26, 2006
Time Warner Telecom Announces Closing of Secondary Common Stock Offering By Principal Stockholders and Exercise of Over-Allotment Option. Check it out:
LITTLETON, Colo., Sept. 26 -- Time Warner Telecom Inc. , a leading provider of managed voice and data networking solutions for businesses, today announced that it has closed the previously announced underwritten secondary public offering of 43,544,158 shares of its Class A common stock, including 3,883,560 shares sold pursuant to the underwriters' exercise of their over-allotment option. The shares of Class A common stock were sold to the public at a price of $17.50 per share. The Company will not receive any cash proceeds from the sale of the shares in the offering.



The shares were sold by subsidiaries of Time Warner Inc. and by Advance Telecom Holdings Corporation and Newhouse Telecom Holdings Corporation, which prior to the offering were the Company's principal stockholders and held all of the shares of the Company's Class B common stock. In connection with the offering, all of the Class B common stock was converted into Class A common stock, and the Company no longer has any shares of Class B common stock outstanding.

Deutsche Bank Securities Inc., Lehman Brothers Inc. and J.P. Morgan Securities Inc. are joint bookrunning managers. Interested parties may obtain a written prospectus from Deutsche Bank Securities Inc. at 1251 Avenue of the Americas, 25th Floor, New York, NY 10020.

The Company has filed a registration statement on Form S-3 (File No. 333-132504) (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement for this offering and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at http://www.sec.gov/. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and related prospectus supplement if you request it by calling toll-free 1-800-503-4611.

About Time Warner Telecom
Time Warner Telecom Inc., headquartered in Littleton, Colo., provides managed network services, specializing in Ethernet and transport data networking, Internet access, local and long distance voice, VoIP and security, to enterprise organizations and communications services companies throughout the U.S. As a leading provider of integrated and converged network solutions, Time Warner Telecom delivers customers overall economic value, quality, service, and improved business productivity. Please visit http://www.twtelecom.com/ for more information.

Legal Notice Regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts may be considered forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from these forward-looking statements. Many of these risks and uncertainties cannot be predicted with accuracy and some might not even be anticipated. Some of the factors that could significantly impact the forward-looking statements in this press release are discussed in the prospectus supplement for this offering and in our reports filed with the SEC. Any forward-looking statement is qualified by reference to these risks and factors. These risks and factors are not exclusive, and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this release. Additional information regarding these and other factors may be contained in the Company's SEC filings, including without limitation, the Company's Form 10-K for its fiscal year ended December 31, 2005. You may obtain the Company's filings for free by visiting EDGAR on the SEC's web site at http://www.sec.gov/ or by visiting the Company's website at http://www.twtelecom.com/.

Time Warner Telecom Inc.

CONTACT: Investor Relations, Carole Curtin, +1-303-566-1000,[email protected], or Media Relations, Bob Meldrum, +1-303-566-1354,[email protected], both of Time Warner Telecom Inc.

Web site: http://www.twtelecom.com/


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