<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)

[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

For the quarterly period ended March 31, 2003

                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

For the transition period from _____________ to _____________

               Commission file numbers 333-35183 and 333-35183-01

                            JAMES CABLE PARTNERS, L.P.
                            JAMES CABLE FINANCE CORP.
           (Exact name of each Registrant as specified in its charter)

           Delaware                                      38-2778219
           Michigan                                      38-3182724
(State or Other Jurisdiction of            (I.R.S. Employer Identification Nos.)
Incorporation or Organization)

    38710 Woodward Avenue, Suite 180                       48304
       Bloomfield Hills, Michigan                        (Zip Code)
(Address of principal executive offices)

Registrants' telephone number, including area code:  (248) 647-1080

Indicate by check mark whether each of the registrants (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [x] No [ ]

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the exchange act). Yes [ ] No [x]

Number of shares of common stock of James Cable Finance Corp. outstanding as of
May 14, 2003: 1,000.

                                       1

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                 PAGE NO.
<S>                                                                                                              <C>
PART I.     FINANCIAL INFORMATION

            Forward-Looking Statements                                                                               3

            Item 1.  Consolidated Financial Statements of James Cable Partners, L.P. and Subsidiary                  5

                     Notes to Consolidated Financial Statements                                                      9

                     Balance Sheets of James Cable Finance Corp.                                                    14
                     Notes to Balance Sheets                                                                        15

            Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations          16

            Item 3.  Quantitative and Qualitative Disclosures About Market Risk                                     21

            Item 4.  Controls and Procedures                                                                        22

PART II.   OTHER INFORMATION

            Item 1. Legal Proceedings                                                                               22

            Item 6. Exhibits and Reports on Form 8-K                                                                24
</TABLE>

                                       2

<PAGE>

FORWARD LOOKING STATEMENTS

     This quarterly report on Form 10-Q includes forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended (the
Securities Act), and Section 21E of the Securities Exchange Act of 1934, as
amended (the Exchange Act), which can be identified by the use of
forward-looking terminology such as: "attempt," "goal," "foreseeable," "may,"
"might," "could," "would," "believe," "expect," "intend," "plan," "seek,"
"anticipate," "estimate," "project" or "continue" or the negative thereof or
other variations thereon or comparable terminology. All statements other than
statements of historical fact included in this quarterly report on Form 10-Q,
including without limitation the statements under "Part I--Item 2. Management's
Discussion and Analysis of Financial Condition and Results of Operations" and
other statements located elsewhere herein regarding our operations, results of
operations, financial position, liquidity and capital resources are
forward-looking statements. These forward-looking statements also include, but
are not limited to:

         -     estimates and expectations regarding our current and future
               operations and markets;

         -     forecasts and expectations regarding our industry, operations,
               services and subscriber base

         -     statements regarding our current plans and goals for our cable
               systems; and

         -     statements and projections regarding our anticipated revenues,
               expense levels, operating results, financial condition,
               liquidity, capital resources, and our ability to continue as a
               going concern.

     Although we believe the expectations reflected in such forward-looking
statements are reasonable, we can give no assurance such expectations will prove
to have been correct. Important factors with respect to any such forward-looking
statements, including certain risks and uncertainties that could cause actual
results to differ materially from our expectations (Cautionary Statements), are
disclosed in this quarterly report on Form 10-Q and in our most recent annual
report on Form 10-K. See, e.g., (1) "Part I - Item 2. Management's Discussion
and Analysis of Financial Condition and Results of Operations" in this quarterly
report on Form 10-Q and (2) "Part II--Item 7. Management's Discussion and
Analysis of Financial Condition and Results of Operations--Risk Factors" in our
most recent annual report on Form 10-K. Important factors that could cause
actual results to differ materially from those in the forward-looking statements
included herein include, but are not limited to:

         -     whether we can successfully restructure our existing indebtedness
               (in bankruptcy or otherwise);

         -     changes or advances in technology;

         -     competition in the industry and markets in which we operate;

         -     potential fluctuations in our subscriber base and costs that
               impact our results of operations, financial condition and
               liquidity;

         -     our ability to attract and retain skilled personnel;

         -     changes in government regulation and our cable franchises; and

         -     general economic and business conditions.

     Due to the current financial condition and liquidity position of James
Cable Partners, L.P. ("James") and James Cable Finance Corp., a wholly-owned
subsidiary of James ("Finance Corp.," and together with James, the "Company"),
the Company failed to pay the $5.375 million interest payment due February 15,
2003 on its 10 3/4% Notes due August 15, 2004 (the "Notes"). Moreover, because
the Company failed to pay such interest payment on the Notes by March 18, 2003,
an event of default under the Indenture under which the Notes were issued has
occurred. Consequently, either the trustee under the Indenture governing the
Notes, or the holders of 25% in principal amount of the Notes now outstanding,
could declare such Notes to be immediately due and payable.

     It is to be noted that the event of default under the Indenture also
constitutes an event of default under the Company's senior credit facility. In
addition, the Company, as of March 31, 2003, is no longer in compliance with the
credit facility's senior debt coverage ratio, which is currently set at
2.1-to-1, or the total debt coverage ratio, which is currently set at 9.10-to-1.
Such defaults could lead to an acceleration of payment demand by the Company's
senior creditor. Acceleration of payment demands by the Company's creditors
would have a material adverse effect on the Company's operations, liquidity and
capital resources, and would require the Company to seek restructuring through a
bankruptcy proceeding. The Company is otherwise paying its day-to-day
obligations.

     The Company has retained Financo Restructuring Group ("Financo") as a
financial advisor to consider options relating to refinancing and restructuring
its existing debt. In this role, Financo has begun discussions with the
Company's senior

                                       3

<PAGE>

lender and certain holders of the Company's subordinated debentures to pursue a
restructuring of the Company's debt. In the event a restructuring of the
Company's debt cannot be achieved, and any of the Company's outstanding debt is
declared immediately due and payable, the Company would not be able to pay such
amounts and would seek to reorganize under the provisions of the federal
bankruptcy laws.

     In conjunction with the 2002 year end audit of the Company's financial
statements (which are included in the Company's 2002 Annual Report filed on Form
10-K), and due to the current financial condition and liquidity position of the
Company and the other matters described above, the Company's independent
accountants issued an audit opinion with respect to the Company's 2002 financial
statements that included an explanatory paragraph that expresses substantial
doubt about the Company's ability to continue as a going concern. The ability of
the Company to continue as a going concern will depend on whether the Company's
outstanding debt can be appropriately restructured. The financial statements and
other financial information of the Company included in this quarterly report on
Form 10-Q do not include any adjustments that might result from the outcome of
such uncertainties.

THESE FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES
AND OTHER FACTORS WHICH MAY CAUSE OUR ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR
ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. ALL
SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS ATTRIBUTABLE TO US OR
PERSONS ACTING ON OUR BEHALF ARE EXPRESSLY QUALIFIED IN THEIR ENTIRETY BY THE
FOREGOING.

                                       4

<PAGE>

PART I.     FINANCIAL INFORMATION

ITEM 1.       Financial Statements

                                      JAMES CABLE PARTNERS, L.P. AND SUBSIDIARY

                                             CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                                   March 31,            December 31,
                                                                                     2003                   2002
                                                                                  ----------            ------------
                                                                                  (Unaudited)
<S>                                                                               <C>                  <C>
                                     ASSETS

Cash & Cash Equivalents                                                           $  4,939,934         $    4,370,013
Accounts Receivable - Subscribers (Net of allowance for
      doubtful accounts of $70,983 in 2003 and $90,301 in 2002)                      4,176,731              4,186,246
Prepaid Expenses & Other                                                             1,194,206                415,409
Property & Equipment:
      Cable television distribution systems and equipment                          107,212,733            106,671,591
      Land and land improvements                                                       334,708                334,708
      Buildings and improvements                                                     1,053,242              1,053,242
      Office furniture & fixtures                                                    4,943,071              4,943,071
      Vehicles                                                                       5,325,389              5,325,389
                                                                                  ------------         --------------
           Total                                                                   118,869,143            118,328,001
      Less accumulated depreciation                                                (97,103,225)           (95,436,827)
                                                                                  ------------         --------------
           Total                                                                    21,765,918             22,891,174
Deferred Financing Costs (Net of accumulated amortization of
      $3,514,498 in 2003 and $3,293,146 in 2002)                                     1,095,583              1,291,064
Goodwill                                                                             6,890,588              6,890,588
Other indefinite lived intangible assets                                             4,973,797              4,973,797
Intangible Assets, Net                                                                 304,063                366,254
Deposits                                                                                64,080                 64,080
                                                                                  ------------         --------------

Total Assets                                                                      $ 45,404,900         $   45,448,625
                                                                                  ============         ==============
                        LIABILITIES & PARTNERS' DEFICIT

Liabilities:
      Debt (Note 3)                                                               $118,000,000         $  118,000,000
      Accounts payable                                                                  36,590                179,821
      Accrued expenses                                                               2,582,665              2,808,937
      Accrued interest on debt                                                       5,974,646              3,547,499
      Unearned revenue                                                               3,598,669              3,521,696
      Subscriber deposits                                                               15,494                 15,816
                                                                                  ------------         --------------
           Total                                                                   130,208,064            128,073,769
Commitments and Contingencies (Note 2)
Partners' Deficit:
      Limited partners                                                             (78,427,636)           (76,270,270)
      General partner                                                               (6,375,528)            (6,354,874)
                                                                                  ------------         --------------
           Total                                                                   (84,803,164)           (82,625,144)
                                                                                  ------------         --------------

Total Liabilities & Partners' Deficit                                             $ 45,404,900         $   45,448,625
                                                                                  ============         ==============
</TABLE>

                 See notes to consolidated financial statements.

                                       5

<PAGE>

                    JAMES CABLE PARTNERS, L.P. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                         For the Three       For the Three
                                                         Months Ended        Months Ended
                                                           March 31,           March 31,
                                                             2003                2002
                                                         -------------       --------------
                                                                    (Unaudited)
<S>                                                      <C>                 <C>
Revenues                                                 $  10,703,048       $   10,457,890
System Operating Expenses (Excluding
      Depreciation and Amortization)                         6,983,572            6,651,308
Non-System Operating Expenses:
      Management fee                                           515,000              460,000
      Other                                                    160,513              149,765
                                                         -------------       --------------
      Total non-system operating
           expenses                                            675,513              609,765
Depreciation and Amortization                                1,728,558            2,112,550
                                                         -------------       --------------
Operating Income                                             1,315,405            1,084,267
Interest and Other:
      Interest expense                                      (3,502,935)          (3,268,448)
      Interest income                                           10,510                1,870
      Other                                                     (1,000)                   0
                                                         -------------       --------------
           Total interest and other                         (3,493,425)          (3,266,578)
                                                         -------------       --------------

Net loss                                                 $  (2,178,020)      $   (2,182,311)
                                                         =============       ==============
</TABLE>

                 See notes to consolidated financial statements.

                                       6

<PAGE>

                    JAMES CABLE PARTNERS, L.P. AND SUBSIDIARY

                  CONSOLIDATED STATEMENTS OF PARTNERS' DEFICIT

<TABLE>
<CAPTION>
                                                                      Limited                General
                                                                      Partners               Partner                Total
                                                                      --------               -------                -----
<S>                                                                <C>                    <C>                   <C>
Balance, December 31, 2002                                         $  (76,270,270)        $  (6,354,874)        $ (82,625,144)
      Net loss (unaudited)                                             (2,157,366)              (20,654)           (2,178,020)
                                                                   --------------         -------------         -------------

Balance, March 31, 2003 (unaudited)                                $  (78,427,636)        $  (6,375,528)        $ (84,803,164)
                                                                   ==============         =============         =============
</TABLE>

                 See notes to consolidated financial statements.

                                       7

<PAGE>

                    JAMES CABLE PARTNERS, L.P. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                            For the Three       For the Three
                                                                            Months Ended        Months Ended
                                                                               March 31,          March 31,
                                                                                 2003               2002
                                                                            -------------       -------------
                                                                                      (Unaudited)
<S>                                                                         <C>                 <C>
Cash Flows from (used in) Operating Activities:
      Net loss                                                              $  (2,178,020)      $  (2,182,311)
      Adjustments to reconcile net loss to net cash
           flows from (used in) operating activities:
           Depreciation                                                         1,666,398           2,050,390
           Amortization                                                            62,160              62,160
           Noncash interest expense                                               221,352             216,498
      Decrease (Increase) in assets:
           Accounts receivable                                                      9,515             (65,178)
           Prepaid expenses                                                      (778,797)             76,631
           Deposits                                                                     0               1,180
      (Decrease) Increase in liabilities:
           Accounts payable                                                      (143,231)           (399,462)
           Accrued expenses                                                      (226,272)           (416,395)
           Accrued interest on debt                                             2,427,147          (2,365,000)
           Unearned revenue                                                        76,975             163,039
           Subscriber deposits                                                       (322)               (500)
                                                                            -------------       -------------
                Total adjustments                                               3,314,925            (676,637)
                                                                            -------------       -------------
                Cash flows from (used in) operating activities                  1,136,905          (2,858,948)
Cash Flows used in Investing Activities:
      Additions to property and equipment                                        (541,143)         (1,099,919)
                                                                            -------------       -------------
                Cash flows used in investing activities                          (541,143)         (1,099,919)
Cash Flows (used in) from Financing Activities:
      Proceeds from credit facility borrowings                                          0           4,500,000
      Costs associated with credit facility amendment                             (25,841)             (8,660)
                                                                            -------------       -------------
                Cash flows (used in) from financing activities                    (25,841)          4,491,340
                                                                            -------------       -------------
Net Increase in Cash and Cash Equivalents                                         569,921             532,473
Cash and Cash Equivalents, Beginning of Period                                  4,370,013             567,404
                                                                            -------------       -------------
Cash and Cash Equivalents, End of Period                                    $   4,939,934       $   1,099,877
                                                                            =============       =============

Supplemental Disclosure of Cash Flow Information -
      Cash paid for interest during the period
      (net of amounts capitalized and amounts paid on
      Company owned Senior Notes)                                           $     854,436       $   5,416,951
                                                                            =============       =============
</TABLE>

                 See notes to consolidated financial statements.

                                       8

<PAGE>

                    JAMES CABLE PARTNERS, L.P. AND SUBSIDIARY

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(1)   BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     GENERAL - James Cable Partners, L.P. (the "Partnership") was organized as a
Delaware limited partnership in 1988. James Cable Finance Corp., a Michigan
corporation ("Finance Corp."), was organized on June 19, 1997 and became a
wholly-owned subsidiary of the Partnership. References to the "Company" herein
are to the Partnership and Finance Corp. consolidated, or to the Partnership
prior to the organization of Finance Corp., as appropriate.

     UNAUDITED INTERIM STATEMENTS - The accompanying interim financial
statements and related notes are unaudited, and reflect all adjustments
(consisting only of normal recurring adjustments) which, in the opinion of
management, are necessary for a fair presentation of the financial position and
results of operations of the Company for the interim periods. The December 31,
2002 balance sheet data is derived from audited financial statements, but the
notes do not include all disclosures required for audited statements by
generally accepted accounting principles. These interim financial statements
should be read in conjunction with the audited financial statements and related
notes for the year ended December 31, 2002 included in the Company's Annual
Report on Form 10-K filed with the Securities and Exchange Commission in March
of 2003. The results for interim periods are not necessarily indicative of the
results for a full year.

     IMPACT OF RECENTLY ADOPTED ACCOUNTING PRINCIPLES - On July 20, 2001, the
FASB issued SFAS No. 142, "Goodwill and Other Intangible Assets." SFAS No. 142
requires that goodwill and other intangible assets with indefinite useful lives
no longer be amortized, but be tested for impairment at least annually.

     The Company adopted SFAS No. 142 on January 1, 2002, as required.
Accordingly, the Company no longer amortizes goodwill and other indefinite lived
intangible assets, which consist of cable franchise operating rights. The
Company tests its goodwill each year at December 31 utilizing a discounted cash
flow method as well as assessing a fair market value based on current per
subscriber market conditions. The Company, after completing these tests at
December 31, 2002, concluded that no impairment existed. In addition, no
material changes have occurred which would affect that conclusion as of March
31, 2003.

     The effect of the adoption of SFAS No. 142 as of March 31, 2003 and
December 31, 2002 is presented in the following table (in thousands) which
includes only those assets which were not fully amortized prior to December 31,
2001:

<TABLE>
<CAPTION>


                                                March 31,2003                           December 31,2002
                                      Gross        Accum.       Carrying        Gross       Accum.       Carrying
(in thousands)                        Value        Amort.         Value         Value       Amort.         Value
                                      -----        ------         -----         -----       ------         -----
<S>                                  <C>          <C>           <C>            <C>         <C>           <C>
Indefinite-lived intangibles:
   Goodwill                          $ 7,457      $   567       $ 6,890        $ 7,457     $   567       $ 6,890
   Franchise operating rights         16,656       11,682         4,974         16,656      11,682         4,974
                                     -------      -------       -------        -------     -------       -------
Totals                               $24,113      $12,249       $11,864        $24,113     $12,249       $11,864
                                     =======      =======       =======        =======     =======       =======

Other intangible assets:
   Subscriber lists and non-
      compete agreements             $ 1,243      $   939       $   304        $ 1,243     $   877       $   366
                                     =======      =======       =======        =======     =======       =======
</TABLE>

     In November 2002, the FASB issued Interpretation No. 45, "Guarantor's
Accounting and Disclosure Requirements for Guarantees, Including Indirect
Guarantees of Indebtedness of Others." Interpretation No. 45 requires the
guarantor to recognize a liability for the non-contingent component of a
guarantee; that is, the obligation to stand ready to perform in the event that
specified triggering events or conditions occur. The initial measurement of this
liability is the fair value of the guarantee at inception. The recognition of
the liability is required even if it is not probable that payments will be
required under the guarantee or if the guarantee was issued with a premium
payment or as part of a transaction with multiple elements. Interpretation No.
45 also requires additional disclosures related to guarantees. The disclosure
requirements are effective for interim and annual financial statements for
periods ending after December 15, 2002. The recognition and measurement
provisions are effective for all guarantees entered into, or modified, after
December 31, 2002. After its initial evaluation, the Company does not believe
that any disclosures or adjustments are necessary as a result of Interpretation
No. 45.

                                       9

<PAGE>

     In January 2003, the FASB issued Interpretation No. 46, "Consolidation of
Variable Interest Entities." The Interpretation may have an effect on existing
practice because it requires existing variable interest entities to be
consolidated if those entities do not effectively disperse risks among the
parties involved. The Interpretation is effective immediately for all variable
interest entities created after January 31, 2003. All variable interest entities
created before February 1, 2003 shall apply the provisions of this
Interpretation no later than the beginning of the first interim or annual
reporting period after June 15, 2003. The Company has determined that it is not
reasonably possible that it will be required to consolidate or disclose
information about a variable interest entity upon the effective date of FASB
Interpretation No. 46, "Consolidation of Variable Interest Entities."

GOING CONCERN AND MANAGEMENT'S PLANS

     The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern, which contemplates the realization of
assets and the satisfaction of liabilities in the normal course of business. Due
to its current financial condition and liquidity position, the Company failed to
pay the $5.375 million interest payment due February 15, 2003 on its 10 3/4%
Notes due August 15, 2004 (the "Notes"). Moreover, because the Company failed to
pay such interest payment on the Notes by March 18, 2003, an event of default
under the Indenture under which the Notes were issued has occurred.
Consequently, either the trustee under the Indenture governing the Notes, or the
holders of 25% in principal amount of the Notes now outstanding, could declare
such Notes to be immediately due and payable.

     It is to be noted that the event of default under the Indenture also
constitutes an event of default under the Company's senior credit facility. In
addition, the Company, as of March 31, 2003, is no longer in compliance with the
credit facility's senior debt coverage ratio, which is currently set at
2.1-to-1, or the total debt coverage ratio, which is currently set at 9.10-to-1.
Such defaults could lead to an acceleration of payment demand by the Company's
senior creditor. Acceleration of payment demands by the Company's creditors
would have a material adverse effect on the Company's operations, liquidity and
capital resources, and would require the Company to seek restructuring through a
bankruptcy proceeding. The Company is otherwise paying its day-to-day
obligations. The Company's event of default raises substantial doubt about its
ability to continue as a going concern.

     The Company has retained Financo Restructuring Group ("Financo") as a
financial advisor to consider options relating to refinancing and restructuring
its existing debt. In this role, Financo has begun discussions with the
Company's senior lender and certain holders of the Company's subordinated
debentures to pursue a restructuring of the Company's debt. In the event a
restructuring of the Company's debt cannot be achieved, and any of the Company's
outstanding debt is declared immediately due and payable, the Company would not
be able to pay such amounts and would seek to reorganize under the provisions of
the federal bankruptcy laws.

     The financial statements do not include any adjustments relating to the
recoverability of recorded assets or amounts of liabilities that might be
necessary if the Company is unable to continue as a going concern.

(2) REGULATORY AND LEGAL MATTERS

     The cable television industry is subject to extensive governmental
regulation on the federal, state and local levels (but principally by the
Federal Communications Commission ("FCC") and by local franchising authorities).
Many aspects of such regulation have recently been extensively revised and are
currently the subject of judicial proceedings and administrative rulemakings,
which are potentially significant to the Company. In this regard, the Company
believes that the regulation of cable television systems, including the rates
charged for cable services, remains a matter of interest to Congress, the FCC
and local regulatory officials. Critics of the cable television industry
continue to seek to maintain or even tighten cable rate regulation in the
absence of widespread effective competition. Accordingly, no assurance can be
given as to what future actions such parties or the courts may take or the
effect thereof on the Company.

     The Cable Television Consumer Protection and Competition Act of 1992 (the
"1992 Cable Act") imposed an extensive rate regulation regime on the cable
television industry. Under that regime, all cable systems are subject to rate
regulation, unless they face "effective competition" in their local franchise
area. Federal law now defines "effective competition" on a community-specific
basis as requiring either low penetration (less than 30%) by the incumbent cable
operator, appreciable penetration (more than 15%) by competing multichannel
video providers ("MVPs"), or the presence of a competing MVP affiliated with a
local telephone company.

                                       10

<PAGE>

     Although the FCC rules control, local government units (commonly referred
to as local franchising authorities or "LFAs") are primarily responsible for
administering the regulation of the lowest level of cable -- the basic service
tier ("BST"), which typically contains local broadcast stations and public,
educational, and government ("PEG") access channels. Before an LFA begins BST
rate regulation, it must certify to the FCC that it will follow applicable
federal rules, and many LFAs have voluntarily declined to exercise this
authority. LFAs also have primary responsibility for regulating cable equipment
rates. Under federal law, charges for various types of cable equipment must be
unbundled from each other and from monthly charges for programming services.

     The FCC formerly administered rate regulation of cable programming service
tiers ("CPST"), which typically contain satellite-delivered programming.
However, the Telecommunications Act of 1996 (the "1996 Telecom Act") eliminated
CPST regulation effective March 31, 1999. Accordingly, the FCC cannot act on
CPST rate increases that occur after that date.

     Under the FCC's rate regulations, most cable systems were required to
reduce their BST and CPST rates in 1993 and 1994, and have since had their rate
increases governed by a complicated price cap scheme that allows for the
recovery of inflation and certain increased costs, as well as providing some
incentive for expanding channel carriage. The FCC has modified its rate
adjustment regulations to allow for annual rate increases and to minimize
previous problems associated with regulatory lag. Operators also have the
opportunity of bypassing this "benchmark" regulatory scheme in favor of
traditional "cost-of-service" regulation in cases where the latter methodology
appears favorable. Premium cable services offered on a per-channel or
per-program basis remain unregulated, as do affirmatively marketed packages
consisting entirely of new programming products. Federal law requires that the
BST be offered to all cable subscribers, but limits the ability of operators to
require purchase of any CPST before purchasing premium services offered on a
per-channel or per-program basis.

     In an effort to ease the regulatory burden on small cable systems, the FCC
created special rate rules applicable for systems with fewer than 15,000
subscribers owned by an operator with fewer than 400,000 subscribers. The
special rate rules allow for a vastly simplified cost-of-service showing. The
Company is eligible for these simplified cost-of-service rules, and has
calculated its rates generally in accordance with those rules.

     Although FCC regulation of CPST rates for all systems (regardless of size)
expired on March 31, 1999, critics of the cable television industry have called
for more rigorous rate regulation (including limits on programming cost
pass-throughs to cable subscribers) until a greater degree of competition to
incumbent cable operators has developed. The 1996 Telecom Act also relaxes
existing uniform rate requirements by specifying that uniform rate requirements
do not apply where the operator faces "effective competition," and by exempting
bulk discounts to multiple dwelling units, although complaints about predatory
pricing still may be made to the FCC.

     In addition, certain provisions of the 1992 Cable Act could, in the future,
have a material adverse effect on the Company's business. In particular, the
1992 Cable Act conveyed to broadcasters the right generally to elect either to
require (i) the local cable operator to carry their signal or (ii) that such
operator obtain the broadcaster's consent before doing so. To date, compliance
with these provisions has not had a material effect on the Company, although
this result may change in the future depending on such factors as market
conditions, channel capacity and similar matters when such arrangements are
renegotiated. In this regard, a rulemaking is now pending at the FCC regarding
the imposition of dual digital and analog must carry provisions.

     In 2001, the FCC granted a pole attachment complaint brought by the
Company, and other Alabama cable operators, against Alabama Power Company
("APC"). The Company initiated the complaint as a result of APC's imposition of
significant pole rental rate increases (more than 500% for the Company), APC's
refusal to engage in good faith negotiations and the threat, by APC, to
terminate existing pole attachment agreements. APC, and other pole companies,
appealed the FCC order to the U.S. Court of Appeals for the Eleventh Circuit. On
November 14, 2002, the Eleventh Circuit issued its decision rejecting APC's
appeal and reaffirming the rulings of the FCC in favor of the Company. Although
the Eleventh Circuit denied APC's request to re-hear the case, the Court
nevertheless stayed the effect of the decision outside of the Eleventh Circuit
while APC appeals to the United States Supreme Court (The "Supreme Court"). APC
filed its appeal to the Supreme Court on April 7, 2003 and it is anticipated
that the Supreme Court will decide whether it will hear the case by the Fall of
2003.

                                       11

<PAGE>

     Other electric utilities have also proposed substantial pole attachment
rental rate increases. For example, Georgia Power Company, an affiliate of APC,
which also provides pole attachments to the Company, has proposed an even
greater increase than APC, as well as an onerous new pole attachment agreement.
A complaint, filed by the Company and other Georgia cable operators, is
currently pending at the FCC. On October 8, 2002, the FCC rejected the same
Georgia Power pole rental rate in a separate legal proceeding not involving the
Company. Depending on the final outcome of these proceedings, as well as other
disputes that may arise in the future, the Company could experience a
significant increase in its pole attachment rental costs. Such an increase, if
ultimately supported by a final, non-appealable order by a court of competent
jurisdiction, could negatively affect the Company's operations.

     The Company is a party to ordinary and routine litigation proceedings that
are incidental to the Company's business. Management believes that the outcome
of all pending legal proceedings will not, in the aggregate, have a material
adverse effect on the financial condition or results of operations of the
Company.

(3) DEBT

     At March 31, 2003 the Company's total debt was $118.0 million, comprised of
$30.0 million borrowed under its secured credit facility and $88.0 million due
under the Notes (see discussion below for more details on both the credit
facility and the Notes).

     Debt consists of the following:

<TABLE>
<CAPTION>
                                                                        MARCH 31,        DECEMBER 31,
                                                                          2003               2002
<S>                                                                   <C>                <C>
10-3/4% Series B Senior Notes due 2004                                $ 88,000,000       $ 88,000,000
Bank Credit Facility                                                    30,000,000         30,000,000
                                                                      ------------       ------------

Total                                                                 $118,000,000       $118,000,000
                                                                      ============       ============
</TABLE>

     THE NOTES - The Company has outstanding an aggregate principal amount of
$88,000,000 of its Notes. The Notes are general senior unsecured obligations of
the Company that mature on August 15, 2004 and rank equally in right of payment
with all other existing and future unsubordinated indebtedness of the Company
and senior in right of payment to any subordinated obligations of the Company.
The Notes are effectively subordinated in right of payment to all secured
indebtedness of the Company. Interest on the Notes accrues at the rate of 10
3/4% per annum and is payable semi-annually in cash in arrears on February 15
and August 15, which commenced on February 15, 1998, to holders of record on the
immediately preceding February 1 and August 1. Interest on the Notes accrues
from the most recent date to which interest has been paid. Interest is computed
on the basis of a 360-day year comprised of twelve 30-day months.

     There is no public market for the Notes. The Company has not and does not
intend to list the Notes on any securities exchange or to seek approval for
quotation through any automated quotation system.

     As indicated in Note 1 above, because the Company failed to pay the $5.375
million interest payment due February 15, 2003 on its Notes, an event of default
under the Indenture under which the Notes were issued has occurred.
Consequently, either the trustee under the Indenture governing the Notes, or the
holders of 25% in principal amount of the Notes now outstanding, could declare
such Notes to be immediately due and payable. Acceleration of payment demands by
the Company's creditors would have a material adverse effect on the Company's
operations, liquidity and capital resources, and would require the Company to
seek restructuring through a bankruptcy proceeding.

     THE CREDIT FACILITY - The Company has a $30 million secured credit facility
with various independent lenders that matures on March 2, 2004. To date, all $30
million of the available credit has been drawn down to pay accrued interest on
the Company's Notes and to purchase $12 million (face value) of the Notes from
affiliates of the lenders.

     The Credit Facility, which is secured by a first priority lien on and
security interest in substantially all of the assets of the Company, accrues
interest at a fixed rate which is payable on a quarterly basis in arrears. The
interest rate on the Credit Facility was 11.5% through March 18, 2003. However,
as a result of the default event described in Note 1 above, the interest rate is
currently at 13.5% and will remain as such until the default is cured. The
Credit Facility contains certain covenants, and provides for certain events of
default, customarily contained in facilities of a similar type. Among other

                                       12

<PAGE>
things, the Credit Facility requires the Company to (i) maintain the ratio of
its total debt to annualized six-month EBITDA (Three-month EBITDA, for the
Company, is calculated in the table below) of no more than 9.10-to-1 and (ii)
maintain a senior debt ratio (that is, the ratio of debt under the Credit
Facility to annualized six-month EBITDA) of no more than 2.10-to-1. In addition,
the Credit Facility imposes limitations on the amount of capital expenditures
that the Company can make for the remainder of the term. Generally, capital
expenditures are limited to $12 million per annum plus any unused portion of the
capital expenditure allowance from the previous year.

                      Calculation of EBITDA for the Company
                             (Amounts in thousands)

<TABLE>
<CAPTION>
                                                  Quarter Ended
                                              March 31,     March 31,
                                               2003           2002
                                               ----           ----
<S>                                           <C>            <C>
Operating income                              $1,315         $1,084
Add back depreciation and
     amortization                              1,729          2,113
                                              ------         ------
EBITDA                                        $3,044         $3,197
                                              ======         ======
</TABLE>

     As indicated in Note 1 above, the failure of the Company to pay the $5.375
million interest payment due February 15, 2003 on its Notes constitutes an event
of default under the Company's senior credit facility. In addition, the Company,
as of March 31, 2003, is no longer in compliance with the credit facility's
senior debt coverage ratio, which is currently set at 2.1-to-1, or the total
debt coverage ratio, which is currently set at 9.10-to-1. Such defaults could
lead to an acceleration of payment demand by the Company's senior creditor.
Acceleration of payment demands by the Company's creditors would have a material
adverse effect on the Company's operations, liquidity and capital resources, and
would require the Company to seek restructuring through a bankruptcy proceeding.

                                       13

<PAGE>

                            JAMES CABLE FINANCE CORP.
  (A WHOLLY OWNED SUBSIDIARY OF JAMES CABLE PARTNERS, L.P., A DELAWARE LIMITED
                                  PARTNERSHIP)

                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                                   March 31,         December 31,
                                                                                     2003               2002
                                                                                   ---------         ------------
<S>                                                                               <C>                <C>
                                                                                  (Unaudited)
                                          ASSETS
Cash and cash equivalents                                                            $1,000             $1,000
                                                                                     ======             ======
                              SHAREHOLDER'S EQUITY
Shareholder's equity - Common stock (1,000 shares issued and outstanding)            $1,000             $1,000
                                                                                     ======             ======
</TABLE>

                          See notes to balance sheets.

                                       14

<PAGE>

                            JAMES CABLE FINANCE CORP.
  (A WHOLLY-OWNED SUBSIDIARY OF JAMES CABLE PARTNERS, L.P., A DELAWARE LIMITED
                                  PARTNERSHIP)

                             NOTES TO BALANCE SHEETS

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ORGANIZATION

     James Cable Finance Corp. ("Finance Corp."), a Michigan corporation, is a
wholly-owned subsidiary of James Cable Partners, L.P. ("James" and together the
"Company"), a Delaware limited partnership, and was organized on June 19, 1997
(the "Date of Inception") for the sole purpose of acting as co-issuer with James
of $100 million aggregate principal amount of the 10-3/4% Senior Notes due
August 15, 2004 (the "Notes"). Finance Corp. has nominal assets and does not
have (and is not expected to have) any material operations.

GOING CONCERN AND MANAGEMENT'S PLANS

     The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern, which contemplates the realization of
assets and the satisfaction of liabilities in the normal course of business. Due
to its current financial condition and liquidity position, the Company failed to
pay the $5.375 million interest payment due February 15, 2003 on its Notes.
Moreover, because the Company failed to pay such interest payment on the Notes
by March 18, 2003, an event of default under the Indenture under which the Notes
were issued has occurred. Consequently, either the trustee under the Indenture
governing the Notes, or the holders of 25% in principal amount of the Notes now
outstanding, could declare such Notes to be immediately due and payable.

     It is to be noted that the event of default under the Indenture also
constitutes an event of default under the Company's senior credit facility. In
addition, the Company, as of March 31, 2003, is no longer in compliance with the
credit facility's senior debt coverage ratio, which is currently set at
2.1-to-1, or the total debt coverage ratio, which is currently set at 9.10-to-1.
Such defaults could lead to an acceleration of payment demand by the Company's
senior creditor. Acceleration of payment demands by the Company's creditors
would have a material adverse effect on the Company's operations, liquidity and
capital resources, and would require the Company to seek restructuring through a
bankruptcy proceeding. The Company is otherwise paying its day-to-day
obligations. The Company's event of default raises substantial doubt about its
ability to continue as a going concern.

     The Company has retained Financo Restructuring Group ("Financo") as a
financial advisor to consider options relating to refinancing and restructuring
its existing debt. In this role, Financo has begun discussions with the
Company's senior lender and certain holders of the Company's subordinated
debentures to pursue a restructuring of the Company's debt. In the event a
restructuring of the Company's debt cannot be achieved, and any of the Company's
outstanding debt is declared immediately due and payable, the Company would not
be able to pay such amounts and would seek to reorganize under the provisions of
the federal bankruptcy laws.

     The financial statements do not include any adjustments relating to the
recoverability of recorded assets or amounts of liabilities that might be
necessary if the Company is unable to continue as a going concern.

2. STATEMENTS OF OPERATIONS, SHAREHOLDER'S EQUITY AND CASH FLOWS

     Since there were no operations in the Finance Corp. from the Date of
Inception through March 31, 2003, a Statement of Operations, a Statement of
Shareholder's Equity and a Statement of Cash Flows have not been presented.

                                       15

<PAGE>

PART I. FINANCIAL INFORMATION

Item 2. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS.

     The following discussion of the financial condition and results of
operations of the Company contains certain forward-looking statements relating
to anticipated future financial conditions and operating results of the Company
and its current business plans. In the future, the financial condition and
operating results of the Company could differ materially from those discussed
herein and its current business plans could be altered in response to market
conditions and other factors beyond the Company's control. Important factors
that could cause or contribute to such differences or changes include those
discussed above in "Forward Looking Statements" and in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2002 under "Forward
Looking Statements" and "Item 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations - Risk Factors."

OVERVIEW

     Revenues. The Company's revenues are primarily attributable to subscription
fees charged to subscribers of the Company's basic cable television programming
services. Basic revenues consist of monthly subscription fees for all services
(other than premium programming, Internet services and digital services) as well
as monthly charges for customer equipment rental. Premium revenues consist of
monthly subscription fees for programming provided on a per-channel basis.
Internet revenues consist of monthly subscription fees and cable modem
installation charges. Digital services revenue includes monthly subscription
fees for tiers of digital programming and fees charged for pay-per-view movies,
concerts and sporting events. In addition, other revenues are derived from
installation and reconnection fees charged to subscribers to commence cable
service, late payment fees, franchise fees, advertising revenues and commissions
related to the sale of goods by home shopping services. At March 31, 2003, the
Company had 64,970 basic subscribers and 24,398 premium subscriptions,
representing basic penetration of 50.0% and premium penetration of 37.6% as
compared to December 31, 2002 at which time the Company had 64,877 basic
subscribers and 24,187 premium subscriptions which represented basic penetration
of 49.9% and premium penetration of 37.3%.

     As of March 31, 2003 the Company had the capabilities of providing its
high-speed Internet service to approximately 60% of its basic cable subscribers
and had more than 8,200 high-speed Internet customers. In addition, the Company
was offering its dial-up Internet service to over one-half of its basic cable
subscribers and had more than 3,800 dial-up Internet customers.

     In addition, the Company now has the capability of providing digital
services to substantially all of its basic subscribers. With these digital
services, the Company can provide tiers of niche satellite programming and
pay-per-view movies, sporting events and concerts, thus, allowing it to better
compete with DBS services. As of March 31, 2003, approximately 9,100 of the
Company basic subscriber's had digital services.

     System Operating Expenses. System operating expenses are comprised of
variable operating expenses and fixed selling, service and administrative
expenses directly attributable to the Company's systems. Variable operating
expenses consist of costs directly attributable to providing cable services to
customers and therefore generally vary directly with revenues. Variable
operating expenses include programming fees paid to suppliers of programming the
Company includes in its basic, premium and digital cable television services, as
well as expenses related to copyright fees, franchise operating fees and bad
debt expenses. Selling, service and administrative expenses directly
attributable to the Company's systems include the salaries and wages of the
field and office personnel, plant operating expenses, office and administrative
expenses and sale costs.

     Non-System Operating Expenses. Non-system operating expenses consist
primarily of general overhead expenses which are not directly attributable to
any one of the Company's systems. These expenses include legal, audit and tax
fees, an incentive bonus accrual for the General Managers of the Company's
systems and amounts paid to its general partner for management expenses.

     Significant Leverage. At March 31, 2003, the Company's debt was $118.0
million, its total assets were $45.4 million, and its partners' deficit was
$84.8 million.

                                       16

<PAGE>

     As a result of its significant leverage and its current financial
condition, the Company failed to make the February 15, 2003 interest payment due
on its Notes. Because the Company failed to make the interest payment on the
Notes by March 18, 2003, an event of default occurred under the Indenture which
governs the Notes. Such event of default also constitutes an event of default
under the Company's senior credit facility. In addition, the Company, as of
March 31, 2003, is no longer in compliance with the credit facility's senior
debt coverage ratio, which is currently set at 2.1-to-1, or the total debt
coverage ratio, which is currently set at 9.10-to-1 (See " - Financial
Condition, Liquidity and Capital Resources" section for more details).

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

     General. Liquidity describes the ability to generate sufficient cash flows
to meet the cash requirements of continuing operations and to pay obligations as
they mature. Liquidity, in the context of the Company's operations, is typically
determined by cash flows from operating activities (e.g. initial installation
charges and monthly service fees paid by subscribers) and the cash flows used in
investing activities (e.g. spending associated with capital projects). The
Company continuously monitors available cash and cash equivalents in relation to
projected cash needs in an effort to maintain adequate balances for current
payments.

     Due to the Company's current financial condition and liquidity position it
failed to pay the $5.375 million interest payment due February 15, 2003 on its
Notes. Moreover, because the Company failed to pay such interest payment on the
Notes by March 18, 2003, an event of default under the Indenture under which the
Notes were issued has occurred. Consequently, either the trustee under the
Indenture governing the Notes, or the holders of 25% in principal amount of the
Notes now outstanding, could declare such Notes to be immediately due and
payable.

     It is to be noted that the event of default under the Indenture also
constitutes an event of default under the Company's senior credit facility. In
addition, the Company, as of March 31, 2003, is no longer in compliance with the
credit facility's senior debt coverage ratio, which is currently set at
2.1-to-1, or the total debt coverage ratio, which is currently set at 9.10-to-1.
Such defaults could lead to an acceleration of payment demand by the Company's
senior creditor. Acceleration of payment demands by the Company's creditors
would have a material adverse effect on the Company's operations, liquidity and
capital resources, and would require the Company to seek restructuring through a
bankruptcy proceeding. The Company is otherwise paying its day-to-day
obligations.

     The Company has retained Financo as a financial advisor to consider options
relating to refinancing and restructuring its existing debt. In this role,
Financo has begun discussions with the Company's senior lender and certain
holders of the Company's subordinated debentures to pursue a restructuring of
the Company's debt. In the event a restructuring of the Company's debt cannot be
achieved, and any of the Company's outstanding debt is declared immediately due
and payable, the Company would not be able to pay such amounts and would seek to
reorganize under the provisions of the federal bankruptcy laws.

     In conjunction with the 2002 year end audit of the Company's financial
statements (which are included in the Company's 2002 Annual Report filed on Form
10-K), and due to the current financial condition and liquidity position of the
Company and the other matters described above, the Company's independent
accountants issued an audit opinion with respect to the Company's 2002 financial
statements that included an explanatory paragraph that expresses substantial
doubt about the Company's ability to continue as a going concern. The ability of
the Company to continue as a going concern will depend on whether the Company's
outstanding debt can be appropriately restructured.

     The financial statements and other financial information of the Company
included in this quarterly report on Form 10-Q do not include any adjustments
that might result from the outcome of such uncertainties.

     Cash Flows from / used in Operating Activities. Net cash flows from
operating activities was $1.1 million for the three months ended March 31, 2003
as compared to net cash flows used in operating activities of $2.9 million for
the three months ended March 31, 2002.

     Cash Flows used in Investing Activities. Net cash used in investing
activities decreased by $560,000 from $1.1 million for the three months ended
March 31, 2002 to $540,000 for the three months ended March 31, 2003. This
decrease is a result of a reduction in spending associated with rebuilds /
upgrades as well as a reduction in equipment costs associated with Internet and
digital service installations.

                                       17

<PAGE>

     Cash Flows from / Used In Financing Activities. Cash flows from financing
activities for the three months ended March 31, 2002 were $4.5 million, almost
all of which related to borrowings the Company made against its credit facility.
All of the cash flows used in financing activities for the three months ended
March 31, 2003 related to costs associated with the credit facility amendment
which occurred in March, 2001.

     The Notes. The Company has outstanding an aggregate principal amount of $88
million of its Notes. The Notes are general senior unsecured obligations of the
Company that mature on August 15, 2004 and rank equally in right of payment with
all other existing and future unsubordinated indebtedness of the Company and
senior in right of payment to any subordinated obligations of the Company. The
Notes are effectively subordinated in right of payment to all secured
indebtedness of the Company. Interest on the Notes accrues at the rate of
10-3/4% per annum and is payable semi-annually in cash arrears on February 15
and August 15, which commenced on February 15, 1998, to holders of record on the
immediately preceding February 1 and August 1. Interest on the Notes accrues
from the most recent date to which interest has been paid. Interest is computed
on the basis of a 360-day year comprised of twelve 30-day months.

     There is no public market for the Notes. The Company has not and does not
intend to list the Notes on any securities exchange or to seek approval for
quotation through any automated quotation system.

     As indicated above, because the Company failed to pay the $5.375 million
interest payment due February 15, 2003 on its Notes, an event of default under
the Indenture under which the Notes were issued has occurred. Consequently,
either the trustee under the Indenture governing the Notes, or the holders of
25% in principal amount of the Notes now outstanding, could declare such Notes
to be immediately due and payable. Acceleration of payment demands by the
Company's creditors would have a material adverse effect on the Company's
operations, liquidity and capital resources, and would require the Company to
seek restructuring through a bankruptcy proceeding.

     The Credit Facility. The Company has a $30 million Credit Facility with
various independent lenders which matures on March 2, 2004. To date, all $30
million of the available credit has been drawn down to, among other things, pay
accrued interest on the Company's Notes and to purchase $12 million (face
amount) of those Notes from affiliates of the lenders.

     The Credit Facility, which is secured by a first priority lien on and
security interest in substantially all of the assets of the Company, accrues
interest at a fixed rate which is payable on a quarterly basis in arrears. The
interest rate on the Credit Facility was 11.5% through March 18, 2003. However,
as a result of the default event described above, the interest rate is currently
at 13.5% and will remain as such until the default is cured. The Credit Facility
contains certain covenants, and provides for certain events of default,
customarily contained in facilities of a similar type. Among other things, the
Credit Facility requires the Company to (i) maintain the ratio of its total debt
to annualized six-month EBITDA of no more than 9.10-to-1 and (ii) maintain a
senior debt ratio (that is, the ratio of debt under the Credit Facility to
annualized six-month EBITDA) of no more than 2.10-to-1. In addition, the Credit
Facility imposes limitations on the amount of capital expenditures that the
Company can make for the remainder of the term. Generally, capital expenditures
are limited to $12 million per annum plus any unused portion of the capital
expenditure allowance from the previous year.

     As indicated above, the failure of the Company to pay the $5.375 million
interest payment due February 15, 2003 on its Notes constitutes an event of
default under the Company's senior credit facility. In addition, the Company, as
of March 31, 2003, is no longer in compliance with the credit facility's senior
debt coverage ratio, which is currently set at 2.1-to-1, or the total debt
coverage ratio, which is currently set at 9.10-to-1. Such defaults could lead to
an acceleration of payment demand by the Company's senior creditor. Acceleration
of payment demands by the Company's creditors would have a material adverse
effect on the Company's operations, liquidity and capital resources, and would
require the Company to seek restructuring through a bankruptcy proceeding.

                                       18

<PAGE>

RESULTS OF OPERATIONS

The following table sets forth the percentage relationship that the various
items bear to revenues for the periods indicated:

<TABLE>
<CAPTION>
                                                    For the Three Months ended March 31,
                                                  2003                                 2002
                                                  ----                                 ----
                                        Amount                %             Amount                %
                                        ------                -             ------                -
                                                             (Dollars in thousands)

<S>                                    <C>                  <C>            <C>                  <C>
Revenues                               $ 10,703             100.0%         $ 10,458             100.0%
System operating expenses                 6,984              65.3             6,651              63.6
Non-System operating expenses               675               6.3               610               5.8
Depreciation and amortization             1,729              16.2             2,113              20.2
                                       --------             -----          --------             -----
Operating income                          1,315              12.2             1,084              10.4
Interest expense, net                     3,492              32.6             3,266              31.2
Other expenses                                1               0.0                 0               0.0
                                       --------             -----          --------             -----
Net loss                               $ (2,178)            (20.4)%        $ (2,182)            (20.8)%
                                       ========             =====          ========             =====
EBITDA (1)                             $  3,044              28.4%         $  3,197              30.6%
</TABLE>

(1)  EBITDA represents operating income before depreciation and amortization.
     The Company has included EBITDA data (which are not a measure of financial
     performance under Generally Accepted Accounting Principles ("GAAP"))
     because it understands such data are used by certain investors to determine
     a cable television company's historical ability to service its
     indebtedness. In addition, the Company uses six-month EBITDA for
     calculations relating to certain credit facility covenants. EBITDA should
     not be considered as an alternative to net income as an indicator of the
     Company's performance or as an alternative to cash flow as a measure of
     liquidity as determined in accordance with GAAP. In addition, the
     calculation of EBITDA for the Company (as calculated in the table below for
     the three month periods ended March 31, 2002 and 2003) may differ from
     EBITDA calculations of other companies.

             Calculation of EBITDA for the Company
                     (Amounts in thousands)

<TABLE>
<CAPTION>
                                            Quarter Ended March 31,
                                               2003        2002

<S>                                           <C>         <C>
Operating income                              $1,315      $1,084
Add back depreciation and
     amortization                              1,729       2,113
                                              ------      ------
EBITDA                                        $3,044      $3,197
                                              ======      ======
</TABLE>

THREE MONTHS ENDED MARCH 31, 2003 COMPARED TO THREE MONTHS ENDED MARCH 31, 2002

     Revenues. Revenues for the three months ended March 31, 2003 increased by
$250,000, or 2.3%, to $10.7 million from $10.5 million for the three months
ended March 31, 2002. This increase is primarily the result of an increase in
the Company's Internet revenues of $190,000, an increase in the Company's
digital revenues of $90,000 and an increase in the Company's basic revenues,
discussed below, from 2002 to 2003, as offset by a decrease in premium revenues.
Basic revenues increased by $120,000, or 1.6%, to $7.8 million for the three
months ended March 31, 2003, as compared to the same period in 2002. Average
monthly total revenues per subscriber for the three months ending March 31, 2003
were $55.15, as compared to $51.29 for the same period last year. This increase,
as well as the increase in basic revenues, is primarily the result of rate
increases which the Company has implemented since March 31, 2002 as well as the
increased Internet and digital revenues discussed above.

     Subscribers. At March 31, 2003 the Company had 64,970 subscribers which
represents a decrease of 3,135, or

                                       19

<PAGE>

4.6%, from the 68,105 subscribers at March 31, 2002. The Company believes that
this decrease is a result of the increased availability and affordability of
competitive video services from satellite dishes and other alternatives to
traditional hard line cable services. The Company continues to respond to this
competition with the introduction of advanced telecommunications services and
aggressive marketing campaigns.

     At March 31, 2003 the Company had more than 8,200 high-speed Internet
customers and more than 3,800 dial-up Internet customers, for a total of
approximately 12,100 Internet customers. This represents an increase of
approximately 1,000 customers, or 9.0%, from the approximately 11,100 Internet
customers at March 31, 2002. In addition, the Company's digital services were in
approximately 9,100 of its basic subscribers homes at March 31, 2003 as compared
to approximately 9,400 at March 31, 2002.

     System Operating Expenses. System operating expenses for the three months
ended March 31, 2003 were $7.0 million, an increase of $330,000, or 5.0%, over
the three months ended March 31, 2002. As a percentage of revenues, system
operating expenses increased 1.7% from 63.6% in 2002 to 65.3% in 2003. The
primary reason for this increase is an increase in technical expenses associated
with additional staff and equipment repair costs necessary to provide better
customer service.

     Non-System Operating Expenses. Non-system operating expenses increased by
$70,000, or 10.8%, from the three months ended March 31, 2002 to the three
months ended March 31, 2003.

     EBITDA. As a result of the foregoing, EBITDA decreased by $150,000, or
4.8%, from $3.2 million for the three months ended March 31, 2002 to $3.0
million for the three months ended March 31, 2003 (See also the disclosures on
page 19 regarding EBITDA, its disclosure, uses and limitations).

     Depreciation and Amortization. Depreciation and amortization decreased by
$380,000, or 18.2%, from $2.1 million for the three months ended March 31, 2002
to $1.7 million for the three months ended March 31, 2003 primarily as a result
of the decrease in capital spending from 2002 to 2003 discussed in the
"Financial Condition, Liquidity and Capital Resources" section.

     Interest Expense, Net. Interest expense, net increased $230,000, or 6.9%,
from $3.3 million for the three months ended March 31, 2002 to $3.5 million for
the three months ended March 31, 2003. This increase was primarily the result of
additional borrowings that the Company made against its credit facility from
March 31, 2002 to March 31, 2003.

     Net Loss. As a result of the foregoing factors, the Company's net loss
remained constant at $2.2 million for the three months ended March 31, 2002 and
2003.

EFFECTS OF NEW ACCOUNTING PRONOUNCEMENTS

     On July 20, 2001, the FASB issued SFAS No. 142, "Goodwill and Other
Intangible Assets." SFAS No. 142 requires that goodwill and other intangible
assets with indefinite useful lives no longer be amortized, but be tested for
impairment at least annually.

     The Company adopted SFAS No. 142 on January 1, 2002, as required.
Accordingly, the Company no longer amortizes goodwill and other indefinite lived
intangible assets, which consist of cable franchise operating rights. The
Company tests its goodwill each year at December 31 utilizing a discounted cash
flow method as well as assessing a fair market value based on current per
subscriber market conditions. The Company, after completing these tests at
December 31, 2002, concluded that no impairment existed. In addition, no
material changes have occurred which would affect that conclusion as of March
31, 2003.

     The effect of the adoption of SFAS No. 142 as of March 31, 2003 and
December 31, 2002 is presented in the following table (in thousands) which
includes only those assets which were not fully amortized prior to December 31,
2001:

                                       20

<PAGE>
<TABLE>
<CAPTION>
                                                      March 31, 2003                                  December 31,2002
                                        Gross            Accum.          Carrying          Gross           Accum.           Carrying
                                        Value            Amort.           Value            Value           Amort.             Value
(in thousands)                          -----            ------           -----            -----           ------             -----
<S>                                    <C>              <C>              <C>              <C>              <C>              <C>
Indefinite-lived intangibles:
   Goodwill                            $ 7,457          $   567          $ 6,890          $ 7,457          $   567          $ 6,890
   Franchise operating rights           16,656           11,682            4,974           16,656           11,682            4,974
                                       -------          -------          -------          -------          -------          -------
Totals                                 $24,113          $12,249          $11,864          $24,113          $12,249          $11,864
                                       =======          =======          =======          =======          =======          =======
Other intangible assets:
   Subscriber lists and non-
      compete agreements               $ 1,243          $   939          $   304          $ 1,243          $   877          $   366
                                       =======          =======          =======          =======          =======          =======
</TABLE>

     In November 2002, the FASB issued Interpretation No. 45, "Guarantor's
Accounting and Disclosure Requirements for Guarantees, Including Indirect
Guarantees of Indebtedness of Others." Interpretation No. 45 requires the
guarantor to recognize a liability for the non-contingent component of a
guarantee; that is, the obligation to stand ready to perform in the event that
specified triggering events or conditions occur. The initial measurement of this
liability is the fair value of the guarantee at inception. The recognition of
the liability is required even if it is not probable that payments will be
required under the guarantee or if the guarantee was issued with a premium
payment or as part of a transaction with multiple elements. Interpretation No.
45 also requires additional disclosures related to guarantees. The disclosure
requirements are effective for interim and annual financial statements for
periods ending after December 15, 2002. The recognition and measurement
provisions are effective for all guarantees entered into, or modified, after
December 31, 2002. After its initial evaluation, the Company does not believe
that any disclosures or adjustments are necessary as a result of Interpretation
No. 45.

     In January 2003, the FASB issued Interpretation No. 46, "Consolidation of
Variable Interest Entities." The Interpretation may have an effect on existing
practice because it requires existing variable interest entities to be
consolidated if those entities do not effectively disperse risks among the
parties involved. The Interpretation is effective immediately for all variable
interest entities created after January 31, 2003. All variable interest entities
created before February 1, 2003 shall apply the provisions of this
Interpretation no later than the beginning of the first interim or annual
reporting period after June 15, 2003. The Company has determined that it is not
reasonably possible that it will be required to consolidate or disclose
information about a variable interest entity upon the effective date of FASB
Interpretation No. 46, "Consolidation of Variable Interest Entities."

Item 3. - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

     The Company did not hold, either during the three months ended March 31,
2003 and 2002, or at March 31, 2003 and December 31, 2002, any market risk
sensitive instruments. The Company has outstanding $88 million of its 10-3/4%
Series B Senior Notes with a fixed interest rate of 10.75%. In addition, the
Company has borrowings outstanding against its credit facility of $30 million
which had a fixed interest rate of 11.5% from January 1 through March 18, 2003
and a fixed interest rate of 13.5% from March 19 through March 31, 2003.

     Due to its current financial condition and liquidity position, the Company
failed to pay the $5.375 million interest payment due February 15, 2003 on its
Notes. Moreover, because the Company failed to pay such interest payment on the
Notes by March 18, 2003, an event of default under the Indenture under which the
Notes were issued has occurred. Consequently, either the trustee under the
Indenture governing the Notes, or the holders of 25% in principal amount of the
Notes now outstanding, could declare such Notes to be immediately due and
payable.

     It is to be noted that the event of default under the Indenture also
constitutes an event of default under the Company's senior credit facility. In
addition, the Company, as of March 31, 2003, is no longer in compliance with the
credit facility's senior debt coverage ratio, which is currently set at
2.1-to-1, or the total debt coverage ratio, which is currently set at 9.10-to-1.
Such defaults could lead to an acceleration of payment demand by the Company's
senior creditor. Acceleration of payment demands by the Company's creditors
would have a material adverse effect on the Company's operations, liquidity and
capital resources, and would require the Company to seek restructuring

                                       21

<PAGE>

through a bankruptcy proceeding. The Company is otherwise paying its day-to-day
obligations.

     The Company has retained Financo as a financial advisor to consider options
relating to refinancing and restructuring its existing debt. In this role,
Financo has begun discussions with the Company's senior lender and certain
holders of the Company's subordinated debentures to pursue a restructuring of
the Company's debt. In the event a restructuring of the Company's debt cannot be
achieved, and any of the Company's outstanding debt is declared immediately due
and payable, the Company would not be able to pay such amounts and would seek to
reorganize under the provisions of the federal bankruptcy laws.

     In conjunction with the 2002 year end audit of the Company's financial
statements (which are included in the Company's 2002 Annual Report filed on Form
10-K), and due to the current financial condition and liquidity position of the
Company and the other matters described above, the Company's independent
accountants issued an audit opinion with respect to the Company's 2002 financial
statements that included an explanatory paragraph that expresses substantial
doubt about the Company's ability to continue as a going concern. The ability of
the Company to continue as a going concern will depend on whether the Company's
outstanding debt can be appropriately restructured.

     The financial statements and other financial information of the Company
included in this quarterly report on Form 10-Q do not include any adjustments
that might result from the outcome of such uncertainties.

Item 4. - CONTROLS AND PROCEDURES

     INTERNAL CONTROLS. The Company maintains a system of internal controls
designed to provide reasonable assurance that: (i) transactions are executed in
accordance with management's general or specific authorization; (ii)
transactions are recorded as necessary to permit preparation of financial
statements in conformity with generally accepted accounting principles, and to
maintain accountability for assets; (iii) access to assets is permitted only in
accordance with management's general or specific authorization; and (iv) the
recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any
differences.

     Under the supervision and with the participation of the Company's
management, including the principal executive officer and principal financial
officer, the Company has evaluated the effectiveness of the design and operation
of the Company's internal controls and procedures. Such evaluation was conducted
within the 90 days prior to the date of filing of this report. There have been
no significant changes in the Company's internal controls or in other factors
that could have significantly affect these controls subsequent to the date of
such evaluation.

     DISCLOSURE CONTROLS AND PROCEDURES. The Company maintains disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14)
that are designed (i) to collect the information it is required to disclose in
the reports it files with the SEC, and (ii) to process, summarize and disclose
this information within the time periods specified in the rules of the SEC.
Under the supervision and with the participation of the Company's management,
including the principal executive officer and the principal financial officer,
the Company has evaluated the effectiveness of the design and operation of its
disclosure controls and procedures. Such evaluation was conducted within the 90
days prior to the date of filing of this report. Based on such evaluation, the
Company's management, including the principal executive officer and the
principal financial officer have concluded that these procedures are effective.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

     The Company is a party to ordinary and routine litigation proceedings that
are incidental to the Company's business. Management believes that the outcome
of all pending legal proceedings will not, in the aggregate, have a material
adverse effect on the financial condition or results of operations of the
Company.

     In 2001, the FCC granted a pole attachment complaint brought by the
Company, and other Alabama cable operators, against Alabama Power Company
("APC"). The Company initiated the complaint as a result of APC's imposition of
significant pole rental rate increases (more than 500% for the Company), APC's
refusal to engage in good faith negotiations and the threat, by APC, to
terminate existing pole attachment agreements. APC, and other

                                       22

<PAGE>

pole companies, appealed the FCC order to the U.S. Court of Appeals for the
Eleventh Circuit. On November 14, 2002, the Eleventh Circuit issued its decision
rejecting APC's appeal and reaffirming the rulings of the FCC in favor of the
Company. Although the Eleventh Circuit denied APC's request to re-hear the case,
the Court nevertheless stayed the effect of the decision outside of the Eleventh
Circuit while APC appeals to the United States Supreme Court (The "Supreme
Court"). APC filed its appeal to the Supreme Court on April 7, 2003 and it is
anticipated that the Supreme Court will decide whether it will hear the case by
the Fall of 2003.

     Other electric utilities have also proposed substantial pole attachment
rental rate increases. For example, Georgia Power Company, an affiliate of APC,
which also provides pole attachments to the Company, has proposed an even
greater increase than APC, as well as an onerous new pole attachment agreement.
A complaint, filed by the Company and other Georgia cable operators, is
currently pending at the FCC. On October 8, 2002, the FCC rejected the same
Georgia Power pole rental rate in a separate legal proceeding not involving the
Company. Depending on the final outcome of these proceedings, as well as other
disputes that may arise in the future, the Company could experience a
significant increase in its pole attachment rental costs. Such an increase, if
ultimately supported by a final, non-appealable order by a court of competent
jurisdiction, could negatively affect the Company's operations.

                                       23

<PAGE>


Item 6.

     (a)      Exhibits.

<TABLE>
<CAPTION>
EXHIBIT NO.                                                         DESCRIPTION
-----------                                                         -----------
<S>               <C>
  3.1    --       Second Amended and Restated Agreement of Limited Partnership of James Cable Partners, L.P. dated as of December
                  29, 1999, as amended by a First Amendment to Second Amended and Restated Agreement of Limited Partnership dated as
                  of March 1, 2001***

  3.2    --       Certificate of Limited Partnership of James Cable Partners, L.P.*

  3.3    --       Articles of Incorporation of James Cable Finance Corp.*

  3.4    --       Bylaws of James Cable Finance Corp.*

  4.1    --       Indenture dated as of August 15, 1997 among James Cable Partners, L.P., James Cable Finance Corp., and United
                  States Trust Company of New York, as Trustee*

  4.3    --       Credit Agreement dated as of March 2, 2001 between James Cable Partners, L.P., as Borrower, and the Lenders listed
                  therein***

  4.4    --       Company Security Agreement dated as of March 2, 2001 between James Cable Partners, L.P., as Grantor, and
                  GoldenTree Asset Management LLC, as agent for the Lenders***

  4.5    --       Guaranty Agreement dated as of March 2, 2001 by James Cable Finance Corp., in favor of each of the Lenders***

  4.6    --       Guarantor Security Agreement dated as of March 2, 2001 between James Cable Finance Corp., as Grantor, and
                  GoldenTree Asset Management LLC, as agent for the Lenders***

  4.8    --       Option Agreement / Option Certificate dated as of December 29, 1999 by and between James Cable Partners, L.P. and
                  James Communications Partners**

   21     --      List of subsidiaries of James Cable Partners, L.P.: James Cable Finance Corp. (James Cable Finance Corp. has no
                  subsidiaries)

  (99)(a)  --     Certification of Principal Executive Officer of James Cable Partners, L.P. Furnished Pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002 ****

  (99)(b)  --     Certification of Principal Financial Officer of James Cable Partners, L.P. Furnished Pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002 ****

  (99)(c)  --     Certification of Principal Executive Officer of James Cable Finance Corp. Furnished Pursuant to Section 906 of the
                  Sarbanes-Oxley Act of 2002 ****

  (99)(d)   --    Certification of Principal Financial Officer of James Cable Finance Corp. Furnished Pursuant to Section 906 of the
                  Sarbanes-Oxley Act of 2002 ****
</TABLE>

----------

*    Incorporated by reference to the corresponding exhibits to the
     Registrants' Registration Statement on Form S-4 (Registration No.
     333-35183).

**   Incorporated by reference to Exhibit (4)(h) of the registrant's Form 10-K
     as filed with the Securities and Exchange Commission for the fiscal year
     ended December 31, 1999.

                                       24

<PAGE>

***  Incorporated by reference to Exhibits (3)(a)/(10)(a), (4)(b), (4)(c),
     (4)(d) and (4)(e), respectively, of the registrant's Form 10-K as filed
     with the Securities and Exchange Commission for the fiscal year ended
     December 31, 2000.

**** Filed herewith.

(b)  Reports on Form 8-K

     During the first quarter of 2003, the Company filed a Current Report on
Form 8-K dated February 10, 2003, relating to the Company's anticipated events
of default under both its Indenture governing its 10 3/4% Notes due 2004 and its
senior credit facility. In addition, the Company filed a Current Report on Form
8-K dated March 18, 2003, relating to the actual events of default which were
anticipated in the Current Report on Form 8-K dated February 10, 2003.

                                       25

<PAGE>

                                   SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants have duly caused this report to be signed on their behalf by the
undersigned, thereunto duly authorized.

                                  JAMES CABLE PARTNERS, L.P.

                                  By: James Communications Partners
                                  General Partner

                                  By: Jamesco, Inc.
                                  Partner

Date: May 14, 2003                By: /s/ William R. James
                                      --------------------
                                           William R. James
                                           President

                                  By: James Communications Partners
                                  General Partner

                                  By: DKS Holdings, Inc.
                                  Partner

Date: May 14, 2003                By: /s/ Daniel K. Shoemaker
                                      -----------------------
                                           Daniel K. Shoemaker
                                           President (Principal financial
                                           officer and chief accounting officer)

                                  JAMES CABLE FINANCE CORP.

Date: May 14, 2003                By: /s/  William R. James
                                      ----------------------
                                           William R. James
                                           President

Date: May 14, 2003                By: /s/ Daniel K. Shoemaker
                                      -----------------------
                                           Daniel K. Shoemaker
                                           Treasurer (Principal financial
                                           officer and chief accounting officer)

                                       26

<PAGE>


                           JAMES CABLE PARTNERS, L.P.

    PRINCIPAL EXECUTIVE OFFICER CERTIFICATION PURSUANT TO SECTION 302 OF THE
                           SARBANES-OXLEY ACT OF 2002

I, William R. James, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of James Cable Partners,
     L.P.;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

         a)  designed such disclosure controls and procedures to ensure that
             material information relating to the registrant, including its
             consolidated subsidiaries, is made known to us by others within
             those entities, particularly during the period in which this
             quarterly report is being prepared;

         b)  evaluated the effectiveness of the registrant's disclosure controls
             and procedures as of a date within 90 days prior to the filing date
             of this quarterly report (the "Evaluation Date"); and

         c)  presented in this quarterly report our conclusions about the
             effectiveness of the disclosure controls and procedures based on
             our evaluation as of the Evaluation Date;

5.   The registrant's other certifying officer and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of the registrant's board of directors (or persons performing the
     equivalent functions):

         a)  all significant deficiencies in the design or operation of internal
             controls which could adversely affect the registrant's ability to
             record, process, summarize and report financial data and have
             identified for the registrant's auditors any material weaknesses in
             internal controls; and

         b)  any fraud, whether or not material, that involves management or
             other employees who have a significant role in the registrant's
             internal controls; and

6.   The registrant's other certifying officer and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: May 14, 2003                        /s/  William R. James
                                          ---------------------
                                          William R. James
                                          President of Jamesco, Inc., a general
                                          partner of James Communications
                                          Partners, the general partner of James
                                          Cable Partners, L.P.
                                          (Principal Executive Officer)

                                       27

<PAGE>

                           JAMES CABLE PARTNERS, L.P.
    PRINCIPAL FINANCIAL OFFICER CERTIFICATION PURSUANT TO SECTION 302 OF THE
                           SARBANES-OXLEY ACT OF 2002

I, Daniel K. Shoemaker, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of James Cable Partners,
     L.P.;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

         a)  designed such disclosure controls and procedures to ensure that
             material information relating to the registrant, including its
             consolidated subsidiaries, is made known to us by others within
             those entities, particularly during the period in which this
             quarterly report is being prepared;

         b)  evaluated the effectiveness of the registrant's disclosure controls
             and procedures as of a date within 90 days prior to the filing date
             of this quarterly report (the "Evaluation Date"); and

         c)  presented in this quarterly report our conclusions about the
             effectiveness of the disclosure controls and procedures based on
             our evaluation as of the Evaluation Date;

5.   The registrant's other certifying officer and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of the registrant's board of directors (or persons performing the
     equivalent functions):

         a)  all significant deficiencies in the design or operation of internal
             controls which could adversely affect the registrant's ability to
             record, process, summarize and report financial data and have
             identified for the registrant's auditors any material weaknesses in
             internal controls; and

         b)  any fraud, whether or not material, that involves management or
             other employees who have a significant role in the registrant's
             internal controls; and

6.   The registrant's other certifying officer and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: May 14, 2003                  /s/ Daniel K. Shoemaker
                                    -----------------------
                                    Daniel K. Shoemaker
                                    President of DKS Holdings, Inc., a general
                                    partner of James Communications
                                    Partners, the general partner of James
                                    Cable Partners, L.P.
                                    (Principal Financial Officer)

                                       28

<PAGE>

                            JAMES CABLE FINANCE CORP.
    PRINCIPAL EXECUTIVE OFFICER CERTIFICATION PURSUANT TO SECTION 302 OF THE
                           SARBANES-OXLEY ACT OF 2002

I, William R. James, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of James Cable Finance
     Corp.;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

         a)  designed such disclosure controls and procedures to ensure that
             material information relating to the registrant, including its
             consolidated subsidiaries, is made known to us by others within
             those entities, particularly during the period in which this
             quarterly report is being prepared;

         b)  evaluated the effectiveness of the registrant's disclosure controls
             and procedures as of a date within 90 days prior to the filing date
             of this quarterly report (the "Evaluation Date"); and

         c)  presented in this quarterly report our conclusions about the
             effectiveness of the disclosure controls and procedures based on
             our evaluation as of the Evaluation Date;

5.   The registrant's other certifying officer and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of the registrant's board of directors (or persons performing the
     equivalent functions):

         a)  all significant deficiencies in the design or operation of internal
             controls which could adversely affect the registrant's ability to
             record, process, summarize and report financial data and have
             identified for the registrant's auditors any material weaknesses in
             internal controls; and

         b)  any fraud, whether or not material, that involves management or
             other employees who have a significant role in the registrant's
             internal controls; and

6.   The registrant's other certifying officer and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: May 14, 2003                                 /s/ William R. James
                                                   --------------------
                                                   William R. James
                                                   President
                                                   (Principal Executive Officer)

                                       29

<PAGE>

                            JAMES CABLE FINANCE CORP.
    PRINCIPAL FINANCIAL OFFICER CERTIFICATION PURSUANT TO SECTION 302 OF THE
                           SARBANES-OXLEY ACT OF 2002

I, Daniel K. Shoemaker, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of James Cable Finance
     Corp.;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

         a)  designed such disclosure controls and procedures to ensure that
             material information relating to the registrant, including its
             consolidated subsidiaries, is made known to us by others within
             those entities, particularly during the period in which this
             quarterly report is being prepared;

         b)  evaluated the effectiveness of the registrant's disclosure controls
             and procedures as of a date within 90 days prior to the filing date
             of this quarterly report (the "Evaluation Date"); and

         c)  presented in this quarterly report our conclusions about the
             effectiveness of the disclosure controls and procedures based on
             our evaluation as of the Evaluation Date;

5.   The registrant's other certifying officer and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of the registrant's board of directors (or persons performing the
     equivalent functions):

         a)  all significant deficiencies in the design or operation of internal
             controls which could adversely affect the registrant's ability to
             record, process, summarize and report financial data and have
             identified for the registrant's auditors any material weaknesses in
             internal controls; and

         b)  any fraud, whether or not material, that involves management or
             other employees who have a significant role in the registrant's
             internal controls; and

6.   The registrant's other certifying officer and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: May 14, 2003                                 /s/ Daniel K. Shoemaker
                                                   -----------------------
                                                   Daniel K. Shoemaker
                                                   Treasurer
                                                   (Principal Financial Officer)

                                       30

<PAGE>

                                  EXHIBIT INDEX

<TABLE>
<S>               <C>
(99)(a)  --       Certification of Principal Executive Officer of James Cable Partners, L.P. Furnished Pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002

(99)(b)  --       Certification of Principal Financial Officer of James Cable Partners, L.P. Furnished Pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002

(99)(c)  --       Certification of Principal Executive Officer of James Cable Finance Corp. Furnished Pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002

(99)(d)   --      Certification of Principal Financial Officer of James Cable Finance Corp. Furnished Pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002
</TABLE>