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, 2001
                                       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 Number 0-24792

                               NTL (TRIANGLE) LLC
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)



           Delaware                                             13-4086747
--------------------------------------------------------------------------------
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                              Identification No.)

                              110 East 59th Street
                               New York, NY 10022
                                 (212) 906-8440
--------------------------------------------------------------------------------
               (Address, including zip code, and telephone number,
        including area code, of Registrant's principal executive offices)

                           --------------------------

Indicate by check mark whether the registrant (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  twelve months (or for such shorter period that the registrant was
required to file such  reports),  and (2) has been subject to such  requirements
for the past 90 days.

           Yes   X                                       No
                ---                                         ---

                           --------------------------

As of March 31,  2001,  there were  800,000  shares of the  Registrant's  common
membership interests  outstanding.  The Registrant is an indirect,  wholly owned
subsidiary  of NTL  Incorporated  and  there is no market  for the  Registrant's
Common  Stock.  The  Registrant  meets  the  conditions  set  forth  in  General
Instruction  H(1)(a) and (b) of Form 10-Q and is therefore filing this form with
the reduced disclosure format.

<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001

                                TABLE OF CONTENTS
                                                                           Page
                                                                          Number
                                                                          ------
PART I.  FINANCIAL INFORMATION
-------  ---------------------

         Item 1.  Financial Statements

                  Condensed Consolidated Balance Sheets as of
                  March 31, 2001 (Unaudited) and December 31, 2000.............2

                  Condensed Consolidated Statements of Operations
                  for the Three Months Ended March 31, 2001 and
                  2000 (Unaudited).............................................3

                  Condensed Consolidated Statements of Cash Flows for
                  the Three Months Ended March 31, 2001 and 2000
                  (Unaudited)..................................................4

                  Condensed Consolidated Statement of Shareholder's
                  Equity for the Three Months Ended March 31, 2001
                  (Unaudited)..................................................5

                  Notes to Condensed Consolidated Financial Statements
                  (Unaudited)..............................................6 - 7

         Item 2.  Management's Discussion and Analysis of
                  Financial Condition and Results of Operations...........8 - 10

PART II. OTHER INFORMATION
-------- -----------------

         Item 6.  Exhibits and Reports on Form 8-K............................11

         SIGNATURES...........................................................12

<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001

PART I.    FINANCIAL INFORMATION
-------    ---------------------
ITEM 1.    FINANCIAL STATEMENTS
-------    --------------------

                      CONDENSED CONSOLIDATED BALANCE SHEETS
                      -------------------------------------

<TABLE>
<CAPTION>
                                                                                   March 31,           December 31,
                                                                                      2001                 2000
                                                                               -----------------    -----------------
                                                                                  (Unaudited)           (See Note)
                                                                                (in (UK Pound)000's, except share data)
<S>                                                                            <C>                  <C>
Assets

Current assets
   Cash and cash equivalents................................................     (UK Pound)9,683      (UK Pound)4,706
   Accounts receivable, less allowance for doubtful accounts of
     (UK Pound)9,509 (2001) and (UK Pound)8,914 (2000)......................              22,931               18,933
   Other current assets.....................................................               9,311               13,850
                                                                               -----------------    -----------------
       Total current assets.................................................              41,925               37,489

Property and equipment, net.................................................             465,705              466,157
Intangible assets, net......................................................             384,920              395,683
Other assets, net...........................................................               7,322               21,276
                                                                               -----------------    -----------------
                                                                               (UK Pound)899,872    (UK Pound)920,605
                                                                               =================    =================

Liabilities and shareholder's equity

Current liabilities
   Accounts payable and accrued expenses....................................    (UK Pound)48,834     (UK Pound)53,268
   Interest payable.........................................................              15,214                4,883
   Deferred revenue.........................................................              14,841               14,928
   Due to affiliates........................................................              15,011               24,316
   Current portion of long-term debt........................................                 662                  662
                                                                               -----------------    -----------------
     Total current liabilities..............................................              94,562               98,057

Loans from affiliate........................................................              45,466               25,549

Long-term debt, less current portion........................................             367,096              348,761

Commitments and contingent liabilities

Deferred income taxes.......................................................               8,597                8,611

Shareholder's equity:
   Common membership interests, (UK Pound).01 par value - authorized
     and issued 800,000 shares..............................................                   8                    8
   Additional capital.......................................................             394,107              394,107
   Accumulated other comprehensive (loss) income............................                 (11)                 746
   (Accumulated deficit) retained earnings..................................              (9,953)              44,766
                                                                               -----------------    -----------------
     Total shareholder's equity.............................................             384,151              439,627
                                                                               -----------------    -----------------
                                                                               (UK Pound)899,872    (UK Pound)920,605
                                                                               =================    =================

   Note: The balance sheet at December 31, 2000 has been derived from the audited financial statements at that date.

See accompanying notes.

                                                           2

</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                           NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                                        FORM 10-Q
                                              QUARTER ENDED MARCH 31, 2001
                                     CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                     -----------------------------------------------
                                                       (Unaudited)

                                                                                          Three Months Ended
                                                                                               March 31,
                                                                                        2001               2000
                                                                                 ------------------  ------------------
                                                                                           (in (UK Pound)000's)

<S>                                                                               <C>                 <C>
Revenue.....................................................................       (UK Pound)42,043    (UK Pound)38,677
                                                                                 ------------------  ------------------

Costs and expenses
   Operating................................................................                 19,609              15,283
   Selling, general and administrative......................................                 22,855              13,126
   Depreciation and amortization............................................                 24,923              16,753
                                                                                 ------------------  ------------------
                                                                                             67,387              45,162
                                                                                 ------------------  ------------------

Operating loss..............................................................                (25,344)             (6,485)

Other income (expense)
   Interest expense.........................................................                 (9,799)             (8,137)
   Interest expense to affiliate............................................                   (538)                  -
   Investment income........................................................                    119                 331
   Exchange losses..........................................................                (19,157)             (6,656)
                                                                                 ------------------  ------------------
                                                                                            (29,375)            (14,462)
                                                                                 ------------------  ------------------

Loss before income taxes....................................................                (54,719)            (20,947)
Income tax benefit..........................................................                      -                 146
                                                                                 ------------------  ------------------

Net loss....................................................................      (UK Pound)(54,719)  (UK Pound)(20,801)
                                                                                 ==================  ==================

See accompanying notes.

                                                           3
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                           NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                                        FORM 10-Q
                                              QUARTER ENDED MARCH 31, 2001
                                     CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                     -----------------------------------------------
                                                       (Unaudited)

                                                                                        Three Months Ended
                                                                                             March 31,
                                                                                  2001                   2000
                                                                            ----------------          -----------------
                                                                                        (in (UK Pound)000's)
<S>                                                                        <C>                        <C>
Net cash (used in) provided by operating activities......................   (UK Pound)(3,231)          (UK Pound)10,151
                                                                            ----------------          -----------------

Investing activities
   Purchases of marketable securities....................................                  -                     (1,365)
   Capital expenditures..................................................            (12,039)                    (8,079)
                                                                            ----------------          -----------------

         Net cash used in investing activities...........................            (12,039)                    (9,444)
                                                                            ----------------          -----------------

Financing activities
   Loans from affiliate..................................................             20,576                          -
   Principal payments....................................................               (314)                      (465)
                                                                            ----------------          -----------------

         Net cash provided by (used in) financing activities.............             20,262                       (465)

         Effect of exchange rate changes on cash.........................                (15)                       (87)
                                                                            ----------------          -----------------

Increase in cash and cash equivalents....................................              4,977                        155

Cash and cash equivalents, beginning of period...........................              4,706                     27,895
                                                                            ----------------          -----------------

Cash and cash equivalents, end of period.................................    (UK Pound)9,683           (UK Pound)28,050
                                                                            ================          =================

Supplemental disclosure of cash flow information
   Cash paid during the period for interest..............................        (UK Pound)-               (UK Pound)53


See accompanying notes.

                                                           4
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
                                                 NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                                              FORM 10-Q
                                                    QUARTER ENDED MARCH 31, 2001
                                      CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDER'S EQUITY
                                      --------------------------------------------------------
                                                             (Unaudited)
                                                             (in 000's)

                                                                                                  Retained
                                                                                 Accumulated      Earnings
                                                                   Compre-      Other Compre-      (Accum-
                          Common             Additional            hensive         hensive         ulated
                      Shares     Par           Capital               Loss       Income (Loss)      Deficit)             Total
                      ------     ---           -------               ----       -------------      --------             -----
<S>                   <C>    <C>          <C>                <C>                <C>            <C>               <C>
Balance at
 December 31, 2000....  800  (UK Pound)8  (UK Pound)394,107                     (UK Pound)746  (UK Pound)44,766  (UK Pound)439,627

 Net loss.............                                       (UK Pound)(54,719)                         (54,719)           (54,719)
 Currency translation
   adjustment.........                                                    (757)          (757)                                (757)
                                                             -----------------
 Comprehensive loss...                                       (UK Pound)(55,476)
                       ----  -----------  -----------------  -----------------  -------------  ----------------  -----------------

Balance at
 March 31, 2001.......  800  (UK Pound)8  (UK Pound)394,107                     (UK Pound)(11) (UK Pound)(9,953) (UK Pound)384,151
                       ====  ===========  =================                     =============  ================  =================


See accompanying notes.

                                                                 5
</TABLE>

<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

1.   Basis of Presentation

     The accompanying  unaudited condensed  consolidated financial statements of
     NTL (Triangle) LLC (formerly NTL (Bermuda)  Limited) (the  "Company")  have
     been  prepared  in  accordance  with  U.S.  generally  accepted  accounting
     principles for interim  financial  information and with the instructions to
     Form  10-Q  and Rule  10-01 of  Regulation  S-X.  Accordingly,  they do not
     include all of the information and footnotes required by generally accepted
     accounting principles for complete financial statements.  In the opinion of
     management,  all  adjustments  (consisting  of normal  recurring  accruals)
     considered necessary for a fair presentation have been included.  Operating
     results  for the three  months  ended  March 31,  2001 are not  necessarily
     indicative of the results that may be expected for the year ending December
     31, 2001.  For further  information,  refer to the  consolidated  financial
     statements and footnotes thereto included in the Company's Annual Report on
     Form 10-K for the year ended December 31, 2000.

     The Company is an indirect,  wholly-owned  subsidiary  of NTL  Incorporated
     ("NTL").

     Certain  prior  period  amounts  have been  reclassified  to conform to the
     current presentation.


2.   Comprehensive Loss

     The Company's  comprehensive loss for the three months ended March 31, 2001
     and  2000  was  (UK  Pound)55.5   million  and  (UK   Pound)21.4   million,
     respectively.

3.   Restructuring Costs

     The Company  recorded  restructuring  costs in November 2000 as a result of
     the completion of a consolidation review. This charge consisted of employee
     severance and related costs of (UK Pound)5.6  million for approximately 470
     employees to be terminated  and lease exit costs of (UK Pound)2.9  million.
     As of March 31, 2001, (UK  Pound)388,000 of the provision had been used for
     employee  severance.  As of March 31, 2001,  approximately 60 employees had
     been  terminated.  The  remaining  restructuring  reserve of (UK  Pound)8.1
     million includes (UK Pound)5.2 million for employees  severance and related
     costs and (UK Pound)2.9 million for lease exit costs.

4.   Property and Equipment

     Property and equipment consist of (in (UK Pound)000's):
<TABLE>
<CAPTION>
                                                                             March 31,          December 31,
                                                                               2001                 2000
                                                                         -----------------   -----------------
                                                                           (Unaudited)

<S>                                                                      <C>                 <C>
     Operating equipment................................................ (UK Pound)508,778   (UK Pound)498,922
     Other equipment....................................................            57,233              57,125
     Construction in progress...........................................            56,050              51,652
                                                                         -----------------   -----------------
                                                                                   622,061             607,699
     Accumulated depreciation...........................................          (156,356)           (141,542)
                                                                         -----------------   -----------------
                                                                         (UK Pound)465,705   (UK Pound)466,157
                                                                         =================   =================
</TABLE>


                                       6
<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - CONCLUDED
                                   (Unaudited)

5.   Intangible Assets

     Intangible assets consist of (in (UK Pound)000's):
<TABLE>
<CAPTION>
                                                                     March 31,           December 31,
                                                                       2001                  2000
                                                                 -----------------    -----------------
                                                                    (Unaudited)
<S>                                                              <C>                  <C>
      Goodwill, net of accumulated amortization of
          (UK Pound)40,789 (2001) and (UK Pound)34,955 (2000)..  (UK Pound)309,119    (UK Pound)314,953
      License acquisition costs, net of accumulated
          amortization of (UK Pound)12,624 (2001) and
          (UK Pound)10,820 (2000)..............................             23,444               25,248
      Customer lists, net of accumulated amortization of
          (UK Pound)10,076 (2001) and (UK Pound)8,365 (2000)...             22,246               23,957
      Other, net of accumulated amortization of
          (UK Pound)28,252 (2001) (UK Pound)26,838 (2000)......             30,111               31,525
                                                                 -----------------    -----------------
                                                                 (UK Pound)384,920    (UK Pound)395,683
                                                                 =================    =================
</TABLE>

6.   Joint Purchasing Alliance Agreement

     As of March  31,  2001 and  December  31,  2000,  other  assets  include  a
     receivable  for a  deposit  of (UK  Pound)7.3  million  and (UK  Pound)21.3
     million,  respectively,  which will be  utilized  under a Joint  Purchasing
     Alliance  Agreement  entered into between  subsidiaries  of the Company and
     Diamond  Cable  Communications  Limited,  a subsidiary of NTL, for combined
     fixed asset  purchases.  The Company's  original deposit was (UK Pound)51.9
     million in March 1999.

7.   Related Party Transactions

     In October 2000,  Cablelink entered into a loan agreement with a subsidiary
     of NTL to provide funding of up to (IR Pound)300.0 million ((UK Pound)235.2
     million),  of which (IR Pound)58.0 million ((UK Pound)45.5 million) and (IR
     Pound)32.0 million ((UK Pound)25.1  million) had been borrowed at March 31,
     2001 and December 31, 2000,  respectively.  The outstanding  borrowings are
     due in October  2007.  Interest is payable  quarterly in arrears  beginning
     March 31, 2001 at EURIBOR plus 1%. The effective interest rate at March 31,
     2001 was 5.69%.  Accrued interest of (IR Pound)937,000 ((UK  Pound)735,000)
     and (IR Pound)257,000 ((UK Pound)201,000) was included in due to affiliates
     in the consolidated  balance sheet at March 31, 2001 and December 31, 2000,
     respectively.

     Since the  acquisition  of the Company by NTL in October 1998, a subsidiary
     of NTL has  been  providing  management,  financial,  legal  and  technical
     services to the  Company.  Beginning  in the fourth  quarter of 1999,  this
     subsidiary   began  charging  the  Company  for  these  services  using  an
     allocation  formula  based  on  customers.  The  Company  was  charged  (UK
     Pound)14.7  million and (UK  Pound)2.8  million in the three  months  ended
     March 31,  2001 and  2000,  respectively,  which is  included  in  selling,
     general  and  administrative  expenses  and  in due  to  affiliates  in the
     consolidated  balance sheet. It is not practicable to determine the amounts
     of these expenses that would have been incurred had the Company operated as
     an unaffiliated  entity.  In the opinion of management of the Company,  the
     allocation method is reasonable.

8.   Contingencies

     The Company is involved in legal  proceedings and claims which arise in the
     ordinary course of its business.  In the opinion of management,  the amount
     of ultimate  liability  with respect to these  actions will not  materially
     affect the  financial  position,  results of operations or liquidity of the
     Company.

                                       7
<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001


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

Overview
--------

NTL (Triangle) LLC (the  "Company") is a holding  company which holds all of the
shares  of  various   companies   principally   engaged   in  the   development,
construction,  management and operation of broadband communications networks for
telephone,  cable television and Internet  services in the United Kingdom ("UK")
and Ireland.  The Company owns the companies that have franchises for Darlington
and Teesside  (collectively,  "Teesside") and Cambridge  Holding Company Limited
("Cambridge")  in the UK, and Cablelink  Limited  ("Cablelink"),  which owns the
companies that provide services in Dublin, Galway and Waterford, Ireland.

Liquidity and Capital Resources
-------------------------------

In November 1995, the Company issued $517.3 million principal amount at maturity
of 11.20% Senior Discount Debentures due 2007 (the "2007 Discount  Debentures").
Interest accretes on the 2007 Discount Debentures at 11.20% per annum compounded
semiannually  from  November  15, 1995 to November  15,  2000,  after which date
interest became payable in cash on each May 15 and November 15 through  November
15, 2007. The 2007 Discount Debentures contain restrictive covenants which limit
the Company's ability to pay dividends.

The  Company  currently  estimates  that  it  will  require   approximately  (UK
Pound)117.0  million  from April 1, 2001  through  December 31, 2001 for capital
expenditures and debt service,  net of cash from operations.  Management expects
that the (UK Pound)117.0  million  required will be funded through cash on hand,
debt or  equity  from NTL or its  subsidiaries  and from  the  Joint  Purchasing
Alliance Agreement deposit of (UK Pound)7.3 million. Subsidiaries of the Company
and Diamond Cable Communications Limited, a subsidiary of NTL, entered into this
agreement in 1999 for joint fixed asset purchases. The Company's ability to meet
its long-term  liquidity and capital  requirements is contingent upon Cambridge,
Teesside and Cablelink's  ability to generate positive  operating cash flow, or,
if necessary,  to obtain external financing,  although there can be no assurance
that any such financing will be obtained on acceptable terms and conditions.

In October 2000,  Cablelink  entered into a loan  agreement with a subsidiary of
NTL  to  provide  funding  of up to (IR  Pound)300.0  million  ((UK  Pound)235.2
million),  of which (IR  Pound)58.0  million  ((UK  Pound)45.5  million) and (IR
Pound)32.0 million ((UK Pound)25.1  million) had been borrowed at March 31, 2001
and December 31,  2000,  respectively.  The  outstanding  borrowings  are due in
October 2007.  Interest is payable quarterly in arrears beginning March 31, 2001
at EURIBOR  plus 1%. The  effective  interest  rate at March 31, 2001 was 5.69%.
Accrued interest of (IR Pound)937,000 ((UK  Pound)735,000) and (IR Pound)257,000
((UK  Pound)201,000)  was  included  in due to  affiliates  in the  consolidated
balance sheet at March 31, 2001 and December 31, 2000, respectively.

Condensed Consolidated Statements of Cash Flows
-----------------------------------------------

Net cash (used in) provided by operating  activities amounted to (UK Pound)(3.2)
million and (UK Pound)10.2 million for the three months ended March 31, 2001 and
2000, respectively. The decrease in net cash provided by operating activities is
primarily  due  to  the  change  in  the  Company's   operating   income  before
depreciation  and amortization and changes in working capital as a result of the
timing of receipts and disbursements.

Net cash used in investing activities amounted to (UK Pound)12.0 million and (UK
Pound)9.4  million  for  the  three  months  ended  March  31,  2001  and  2000,
respectively.  During the three months  ended March 31,  2001,  net cash used in
investing activities includes capital expenditures of (UK Pound)12.0 million.

Net cash provided by (used in) financing  activities  amounted to (UK Pound)20.3
million and (UK  Pound)(465,000)  for the three  months ended March 31, 2001 and
2000,  respectively.  During the three  months  ended March 31,  2001,  net cash
provided  by  financing  activities  includes  (UK  Pound)20.6  million  in cash
received by  Cablelink  from a  subsidiary  of NTL.  Net cash used in  financing
activities of (UK Pound)465,000 in the three months ended March 31, 2000 was for
principal payments.

                                       8
<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001

Results of Operations
---------------------

Consolidated  financial  information  for the Company for the three months ended
March  31,  2001  and  2000 is as  follows  (in (UK  Pound)000's,  "NM"  denotes
percentage is not meaningful):

<TABLE>
<CAPTION>
                                                          Three Months Ended
                                                               March 31,                      Increase/(Decrease)
                                                        2001               2000             (UK Pound)          %
                                                  -----------------  -----------------  ----------------   --------
<S>                                                <C>                <C>                <C>                <C>
Revenues.......................................... (UK Pound)42,043   (UK Pound)38,677   (UK Pound)3,366        8.7%
Operating, selling, general and administrative               42,464             28,409            14,055       49.5%
expenses
Depreciation and amortization.....................           24,923             16,753             8,170       48.8%
                                                  -----------------  -----------------
Operating loss....................................          (25,344)            (6,485)          (18,859)     290.8%
                                                  -----------------  -----------------
Interest expense..................................            9,799              8,137             1,662       20.4%
Interest expense to affiliate.....................              538                  -               538         NM
Investment income.................................             (119)              (331)             (212)      64.0%
Exchange losses...................................           19,157              6,656            12,501      187.8%
                                                  -----------------  -----------------
Loss before income taxes..........................          (54,719)           (20,947)          (33,772)     161.2%
Income tax benefit................................                -                146              (146)      (100%)
                                                  -----------------  -----------------
Net loss..........................................(UK Pound)(54,719) (UK Pound)(20,801)          (33,918)     163.1%
                                                  =================  =================
</TABLE>

Substantially  all of the increases in revenues,  operating  expenses,  selling,
general and  administrative  expenses and depreciation and amortization  expense
for the three  months  ended March 31,  2001,  as compared to the same period in
2000, are attributable to the continued  development of the Company's operations
and  increased  business  activity  resulting  from the  growth in the number of
subscribers in Cambridge, Teesside and Cablelink.

For the three months ended March 31, 2000,  certain costs have been reclassified
from selling,  general and administrative expenses to operating costs to conform
to the 2001 classification.

Operating costs were (UK Pound)19.6  million and (UK Pound)15.3  million for the
three months ended March 31, 2001 and 2000,  respectively.  Operating costs as a
percentage  of revenue was 46.6% and 39.5% for the three  months ended March 31,
2001 and 2000, respectively.

Selling,  general and administrative expense were (UK Pound)22.9 million and (UK
Pound)13.1  million  for the  three  months  ended  March  31,  2001  and  2000,
respectively. Beginning in the fourth quarter of 1999, a subsidiary of NTL began
charging the Company for management,  financial, legal and technical services it
provides to the  Company.  These  charges  were (UK  Pound)14.7  million and (UK
Pound)2.8  million  for  the  three  months  ended  March  31,  2001  and  2000,
respectively.  After  adjusting  for  the  NTL  charges,  selling,  general  and
administrative  expenses as a percentage  of revenue was 19.5% and 26.6% for the
three months ended March 31, 2001 and 2000, respectively.

During 2001,  the Company  intends to drive the majority of revenue  growth from
increases in average  revenue per  customer  rather than through the addition of
new customers.  This allows the Company to achieve revenue targets, have a lower
capital  requirement  due to fewer  installations,  and  improve  EBITDA  as the
Company  reduces  front-loaded  costs  such as  customer  acquisition  costs and
initial maintenance costs.

Interest  expense  for the three  months  ended  March 31, 2001 and 2000 was (UK
Pound)9.8  million and (UK  Pound)8.1  million,  respectively,  representing  an
increase of (UK Pound)1.7 million. The increase is primarily attributable to the
compounding of interest on the 2007 Discount Debentures.

                                       9
<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001

In October 2000,  Cablelink  entered into a loan  agreement with a subsidiary of
NTL  to  provide  funding  of up to (IR  Pound)300.0  million  ((UK  Pound)235.2
million),  of which (IR  Pound)58.0  million ((UK  Pound)45.5  million) had been
borrowed at March 31, 2001.  Interest expense to affiliate was (UK Pound)538,000
during the three months ended March 31, 2001.

Investment  income for the three  months  ended  March 31, 2001 and 2000 was (UK
Pound)119,000 and (UK  Pound)331,000,  respectively,  representing a decrease of
(UK  Pound)212,000.  The decrease is primarily  attributable to decreases in the
average cash balances  available for  investment in 2001 as compared to the same
period in 2000.

Exchange  losses for the three  months  ended  March 31,  2001 and 2000 were (UK
Pound)19.2  million and (UK Pound)6.7  million,  respectively,  representing  an
increase of (UK Pound)12.5  million.  The increase  primarily  resulted from the
impact of  fluctuations  in the  valuation of the UK Pound  Sterling on the 2007
Discount Debentures,  which are denominated in US dollars. The Company's results
of operations will continue to be affected by exchange rate fluctuations.

The Company  recorded  restructuring  costs in November  2000 as a result of the
completion  of  a  consolidation  review.  This  charge  consisted  of  employee
severance  and related  costs of (UK  Pound)5.6  million for  approximately  470
employees to be terminated and lease exit costs of (UK Pound)2.9 million.  As of
March 31, 2001,  (UK  Pound)388,000  of the provision had been used for employee
severance. As of March 31, 2001, approximately 60 employees had been terminated.
The  remaining  restructuring  reserve of (UK  Pound)8.1  million  includes  (UK
Pound)5.2  million for  employees  severance and related costs and (UK Pound)2.9
million for lease exit costs.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
--------------------------------------------------------------------------------

Certain statements contained herein constitute  "forward-looking  statements" as
that term is defined under the provisions of the Private  Securities  Litigation
Reform  Act of 1995.  When  used  herein,  the  words  "believe,"  "anticipate,"
"should,"   "intend,"  "plan,"  "will,"  "expects,"   "estimates,"   "projects,"
"positioned,"  "strategy," and similar expressions identify such forward-looking
statements.  Such  forward-looking  statements  involve known and unknown risks,
uncertainties  and other factors that may cause the actual results,  performance
or achievements of the Company, or industry results, to be materially  different
from those contemplated,  projected,  forecasted, estimated or budgeted, whether
expressed or implied, by such forward-looking  statements. Such factors include,
among others: general economic and business conditions, the Company's ability to
continue  to design  networks,  install  facilities,  obtain  and  maintain  any
required  governmental  licenses  or  approvals  and  finance  construction  and
development,  all in a timely  manner at  reasonable  costs and on  satisfactory
terms and conditions,  as well as assumptions about customer  acceptance,  churn
rates,  overall market penetration and competition from providers of alternative
services,  the  impact  of  new  business  opportunities  requiring  significant
up-front  investment,  and  availability,  terms and deployment of capital.  The
Company assumes no obligation to update the forward-looking statements contained
herein to reflect actual  results,  changes in assumptions or changes in factors
affecting such statements.

                                       10
<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001

PART II.  OTHER INFORMATION
--------  -----------------

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K
-------   --------------------------------

          (a)  Exhibits:

               None.

          (b)  Reports on Form 8-K:

               No  reports  on Form 8-K were  filed by the  Company  during  the
               quarter ended March 31, 2001.





                                       11
<PAGE>
                       NTL (TRIANGLE) LLC AND SUBSIDIARIES
                                    FORM 10-Q
                          QUARTER ENDED MARCH 31, 2001

                                   SIGNATURES
                                   ----------

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                      NTL (TRIANGLE) LLC
                                      ------------------------------------------
                                      (Registrant)
                                      By:  NTL Group Limited
                                           Its Sole Managing Member



Date: May 14, 2001                    By: /s/ Stephen A. Carter
                                      ------------------------------------------
                                      Stephen A. Carter
                                      (Director and Chief Operating Officer of
                                      NTL Group Ltd., the sole managing member)
                                      on behalf of registrant



Date: May 14, 2001                    By: /s/ Stuart Ross
                                      ------------------------------------------
                                      Stuart Ross
                                      (Director and Chief Financial Officer of
                                      NTL Group Ltd., the sole managing member)
                                      on behalf of registrant






                                       12