Dolans Strengthen Cablevision Board

Dolans Strengthen Cablevision Board

JERICHO, N.Y., March 2 /PRNewswire/ -- Charles F. Dolan announced today that holders of a majority of the Class B common stock of Cablevision Systems Corporation have elected Rand Araskog, Frank J. Biondi, Jr., Dr. John Malone and Dr. Leonard Tow to Cablevision's board of directors. The new directors will replace William J. Bell and Sheila Mahony, both of whom recently retired as officers of Cablevision, Steven Rattner and the late John Tatta. The new directors are expected to serve until the next annual meeting of stockholders, currently scheduled for May 19, 2005, and then to be re-nominated for an additional term.

Mr. Dolan also announced that the board will be asked at its next meeting on March 7, to increase its size so that the Class B stockholders may elect Brian Sweeney to fill a new seat. Mr. Sweeney has been with Cablevision for 12 years and is currently a Senior Vice-President for e-media with responsibility for websites and interactive television services. He is a son-in-law of Mr. Dolan, the Chairman of Cablevision.

Said Chairman Charles Dolan, "In light of the extensive industry experience and impressive qualifications of these individuals, the Class B stockholders believe that they will be very well-positioned to make significant contributions to the long-term success of the company." Mr. Dolan has also notified Cablevision that the Class B stockholders will exercise their rights under Cablevision's certificate of incorporation to nominate and elect 75% of the company's directors at the next annual meeting of stockholders.

Additional information with respect to each of the new directors follows:

Rand Araskog is a former Chairman, CEO and President of ITT Corporation and current or former director of several companies, including Shell Oil Companies, Dow Jones & Company, Inc., and Hartford Financial Services Group.

Frank J. Biondi, Jr. is a former President and CEO of Viacom, Inc., former Chairman and CEO of Universal Studios, Inc., former Chairman and CEO of Home Box Office, Inc. and a current director of several companies, including The Bank of New York Company, Inc., Hasbro, Inc., Harrah's Entertainment Inc., and Amgen, Inc.

Dr. John C. Malone is Chairman of Liberty Media Corporation, a position he has held since 1990. From 1996 to March, 1999 when Tele-Communications, Inc. merged with AT&T Corp., he was also Chairman and Chief Executive Officer of TCI. He currently serves on the board of Directors for the Bank of New York, the CATO Institute, Discovery Communications, Inc., Liberty Media International, UnitedGlobalCom, Inc. and The Nature Conservancy.

Dr. Leonard Tow is former chairman and chief executive officer of Citizens Communications and chief executive officer of Century Communications Corp., a cable television company. Dr. Tow is also a former senior vice president, corporate development and planning for Teleprompter Corp. and a management consultant for Touche Ross & Company.

Source: Charles F. Dolan

CONTACT: Edward Horowitz, +1-212-332-1450, for Charles F. Dolan

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