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Press release from Business Wire

Virgin Media Inc.: Agreement with HMRC

Tuesday, June 07, 2011

Virgin Media Inc.: Agreement with HMRC04:20 EDT Tuesday, June 07, 2011 LONDON (Business Wire) -- Virgin Media Inc. (NASDAQ: VMED) (LSE: VMED) today announced that it had reached an agreement with HM Revenue & Customs (HMRC), the UK tax authority, on certain Value Added Tax (VAT) matters. As a result, the reasonably possible contingent liability previously disclosed (and not accrued for) by the Company in respect of VAT activities as of March 31, 2011 is reduced to £23.6 million. In addition, the Company and HMRC have agreed a VAT refund to the Company of £81.5 million that will be reflected in the Company's financial statements for the second quarter of 2011. Virgin Media Investor RelationsRichard Williams: +44 (0) 20 7909 3272richard.williams@virginmedia.co.ukorReuben Wheeler: +44 (0) 20 7909 3273reuben.wheeler@virginmedia.co.ukorMedia contactsAt Virgin Media, Gareth Mead+44 (0) 20 7909 3289gareth.mead@virginmedia.co.ukorAt Tavistock Communications, Matt Ridsdale+44 (0) 20 7920 3150mridsdale@tavistock.co.uk