MEDIACOM COMMUNICATIONS CORPORATION (Nasdaq: MCCC) today reported financial results for the three and six months ended June 30, 2008. The Company will hold a teleconference today at 10:30 a.m. Eastern Time to discuss its financial results. A live broadcast of the teleconference can be accessed through the Company web site at www.mediacomcc.com.

Second Quarter 2008 Financial Highlights

• Revenues increased 7.6% to $349.5 million
• Adjusted operating income before depreciation and amortization (“Adjusted OIBDA”) rose 9.1% to $130.1 million¹
• Operating income grew 13.7% to $69.3 million
• Average monthly revenue per basic subscriber increased 10.0% to $88.02
• Revenue generating units (“RGUs”) rose sequentially by 42,000, more than double the RGU additions in the prior year period

“We delivered another quarter of solid results despite a flat advertising sales market,” said Rocco B. Commisso, Mediacom’s Chairman and CEO. “Our RGU growth was a record for any second quarter in the Company’s history, due in part to the lowest basic subscriber loss for any comparable period since 2001. Given our performance thus far, together with our outlook for the balance of 2008, we feel comfortable raising external guidance for the second time this year.”

“This year we stepped up the capital investments in our network and delivery systems, not only to enrich the customer experience, but to maintain our competitive edge and capitalize on the opportunities of the digital transition. Fortunately, against the backdrop of difficult conditions in the credit markets, we are well-positioned financially to invest in our future, with more than $900 million of available lines of credit, and having achieved the lowest balance sheet leverage in seven years,” concluded Mr. Commisso.

Revised Full Year 2008 Financial Guidance

Based on the strength of its year-to-date performance and the outlook for the second half of the year, the Company is raising its full year 2008 financial guidance as follows:

• Revenue growth increased to between 7.0% and 8.0%; previously between 6.5% and 7.5%
• Adjusted OIBDA growth increased to between 8.5% and 9.5%; previously between 7.0% and 8.0%

Capital expenditure guidance is unchanged at approximately $275 million.

Three Months Ended June 30, 2008 Compared to Three Months Ended June 30, 2007

Revenues rose 7.6% to $349.5 million, largely due to growth in high-speed data and phone customers.

Total operating costs grew 6.8%, primarily due to increases in programming unit costs and expenses related to the corresponding growth in the Company’s phone customers, offset in part by a reduction in high-speed data delivery costs.

Adjusted OIBDA increased 9.1%, resulting in a margin of 37.2%, up from 36.7% in the prior year period. Operating income rose by 13.7%, due to the increase in Adjusted OIBDA, offset in part by higher depreciation and amortization.

Liquidity and Capital Resources

The Company has included the Condensed Statements of Cash Flows for the six months ended June 30, 2008 and 2007 in Table 4.

Significant sources of cash for the six months ended June 30, 2008 were as follows:

• Net cash flows from operating activities of $133.3 million;
• Net bank financing of $33.7 million; and
• Other financing activities of $23.3 million.

Significant uses of cash for the six months ended June 30, 2008 were as follows:

• Capital expenditures of $134.7 million;
• Repurchases of shares of Class A common stock totaling $22.4 million; and
• Financing costs of $11.4 million.

Free cash flow was a positive $12.6 million for the six months ended June 30, 2008, as compared to a negative $4.2 million in the prior year period. See Tables 6, 7 and 9 for further information concerning this non-GAAP financial measure.

Financing Transactions

On May 29, 2008, the Company entered into an incremental credit facility agreement that provides for a new term loan in the principal amount of $350.0 million. Approximately $335.0 million of the proceeds from the new term loan were used to repay the outstanding balance of the revolving credit portion of an existing credit facility, without any reduction in the revolving credit commitments. The balance of the proceeds from the new term loan was used for general corporate purposes.

Borrowings under this new term loan bear interest at a floating rate or rates equal to LIBOR or the prime rate, plus a margin of 3.50% for LIBOR loans and a margin of 2.50% for prime rate loans. For the first four years of the new term loan, LIBOR and the prime rate applicable to the new term loan are subject to a minimum of 3.00% in the case of LIBOR and a minimum of 4.00% in the case of the prime rate. The new term loan matures on January 3, 2016.

Financial Position

At June 30, 2008, the Company had total debt outstanding of $3.249 billion, an increase of $34 million from year-end 2007. As of the same date, the Company had unused credit facilities of $903 million, all of which could be borrowed and used for general corporate purposes based on the terms and conditions of the Company’s debt arrangements. As of the date of this press release, about 68.5% of the Company’s total debt was at fixed interest rates or subject to interest rate protection.

Stock Repurchase Program and Activity

During the six months ended June 30, 2008, the Company repurchased approximately 4.8 million shares of its Class A Common Stock for an aggregate cost of $22.4 million. At June 30, 2008, the Company had approximately 94.6 million shares of Class A and Class B common stock outstanding, and $47.6 million was available under the Company’s stock repurchase program.

Company Description

Mediacom Communications is the nation’s eighth largest cable television company and one of the leading cable operators focused on serving the smaller cities and towns in the United States. Mediacom Communications offers a wide array of broadband products and services, including traditional video services, digital television, video-on-demand, digital video recorders, high-definition television, high-speed data access and phone service. More information about Mediacom Communications can be accessed on the Internet at: www.mediacomcc.com.

Forward Looking Statements

In this press release, we state our beliefs of future events and of our future financial performance. In some cases, you can identify those so-called “forward-looking statements” by words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of those words and other comparable words. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from historical results or those we anticipate. Factors that could cause actual results to differ from those contained in the forward-looking statements include, but are not limited to: existing and future competition for our video, high-speed data and phone customers; our ability to achieve anticipated customer and revenue growth and to successfully introduce new products and new services; increasing programming costs; changes in laws and regulations; our ability to generate sufficient cash flow to meet our debt service obligations and access capital to maintain our financial flexibility; and the other risks and uncertainties discussed in our Annual Report on Form 10-K for the year ended December 31, 2007 and other reports or documents that we file from time to time with the Securities and Exchange Commission. Statements included in this press release are based upon information known to us as of the date of this press release, and we assume no obligation to update or alter our forward-looking statements made in this press release, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.