Telewest bondholders committee rejects Liberty tender

New York, June 19 - The informal committee representing holders of notes issued by Telewest Communications plc said it is rejecting the tender offer announced last week by Liberty TWSTY Bonds, Inc.

The committee said its members, which own more than 50% of Telewest's notes, said they will not participate in the offer.

"Members of the Committee consider that acceptance of the Liberty tender offer is not in their best interests," the committee said in a statement.

The committee added that it wishes to discuss with Liberty and Telewest its own proposals for a restructuring.

It is also asking for Liberty to disclose details of the restructuring plan which Liberty has stated, in its tender offer, that it intends to propose to Telewest.

The committee has retained UBS Warburg LLC as its financial advisor and Cadwalader, Wickersham & Taft as its legal counsel.

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