NTL Inc
Industry: Communications Services

NTL Incorporated is a broadband communications and broadband services company in the United Kingdom and the Republic of Ireland. The Company's principal lines of business are consumer services, including residential telephony, cable television, Internet access and interactive services and wholesale Internet access solutions for United Kingdom Internet service providers (ISPs); business services, including data, voice and Internet services; broadcast transmission and tower services, including digital and analog television and radio broadcasting, wireless network management, tower and site leasing, satellite distribution services and radio communications services to the public safety sector; network services, including the management of the Company's United Kingdom national network infrastructure; and carrier services and mobile, including national and international carrier telecommunications services.

Business Summary
Nortel Inversora S.A. is a holding company whose principal asset is its 55% equity interest in Telecom Argentina STET-France Telecom S.A. (Telecom), a telecommunications service provider in Argentina. Telecom is a private sector corporation in Argentina that has a non-expiring license to provide fixed-line public telecommunications services and basic telephone services in Argentina. The Company also provides other telephone-related services, such as international long-distance service and data transmission and Internet services, and, through its subsidiaries, wireless telecommunications services, telephone directory publishing and data transmission. Telecom provides domestic and international telephony services in the Northern Region on an exclusive basis. At December 31, 2003, the Company's telephone system included approximately 3.6 million lines in service.

Financial Summary
Nortel Inversora S.A. was organized to invest in other companies, and its sole substantial activity is owning 55% of the common stock of Telecom Argentina STET-France Telecom S.A. For the fiscal year ended 12/31/04, revenues rose 20% to PS449B. Net loss totaled P$519M vs. an income of P$222M. Results reflect reduced proceeds from internet and data services, higer cost of sales and subtantially higher net financing expenses.