Document:

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                            NTL COMMUNICATIONS CORP.,

                                NTL INCORPORATED,

                                       and

                            THE CHASE MANHATTAN BANK,
                                   as Trustee

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

                          SECOND SUPPLEMENTAL INDENTURE

                           Dated as of March 16, 2000

            Supplementing the Indenture dated as of December 16, 1998
            between NTL Communications Corp. (formerly known as NTL
            Incorporated) and The Chase Manhattan Bank, as Trustee, as
            amended by the First Supplemental Indenture dated as of
            March 31, 1999 among NTL Communications Corp. (formerly
            known as NTL Incorporated), NTL Incorporated (formerly known
            as NTL Communications Corp.) and The Chase Manahattan Bank

                        7% CONVERTIBLE SUBORDINATED NOTES
                                    DUE 2008

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          SECOND SUPPLEMENTAL INDENTURE dated as of March 16, 2000 among NTL
Communications Corp., a Delaware corporation (the "COMPANY"), NTL Incorporated,
a Delaware corporation ("HOLDCO"), and The Chase Manhattan Bank, a New York
corporation, as trustee (the "TRUSTEE").

                                   WITNESSETH:

          WHEREAS, the Company and the Trustee previously executed and delivered
the Indenture dated as of December 16, 1998 (the "ORIGINAL INDENTURE"),
providing for the creation, execution, authentication and delivery of the
Company's 7% Convertible Subordinated Notes due 2008 (each a "SECURITY" and
collectively the "SECURITIES"), which Securities were convertible into shares of
common stock, par value $.01 per share (the "OLD NTL COMMON STOCK"), of the
Company in accordance with the terms and conditions of the Original Indenture;

          WHEREAS, on March 26, 1999, the Company, Holdco and NTL Mergerco,
Inc., a Delaware corporation that was a direct wholly-owned subsidiary of Holdco
and an indirect wholly-owned subsidiary of the Company ("MERGER SUB"), entered
into an Agreement and Plan of Merger (the "MERGER AGREEMENT"), pursuant to
which, among other things, effective April 1, 1999, Merger Sub was merged with
and into the Company in accordance with Section 251(g) of the General
Corporation Law of the State of Delaware (the "MERGER"), with the Company
continuing as the surviving corporation (the "SURVIVING CORPORATION") under the
name "NTL Communications Corp." and as a wholly-owned subsidiary of Holdco;

          WHEREAS, pursuant to the Merger, each outstanding share of Old NTL
Common Stock was converted into the right to receive one validly issued, fully
paid and nonassessable share of common stock, par value $.01 per share, of
Holdco (the "NEW NTL COMMON STOCK");

                  WHEREAS, immediately prior to the Merger, the Company entered
into the First Supplemental Indenture, dated as of March 31, 1999, among Holdco,
the Company and the Trustee (the "First Supplemental Indenture" and, together
with the Original Indenture, the "Indenture"), pursuant to which effective with
the consummation of the Merger, Holdco assumed the obligation to issue shares of
New NTL Common Stock upon conversion of the Securities;

<PAGE>   3

          WHEREAS, upon consummation of the Merger, the Company, as the
Surviving Corporation, continued to be liable for all of the payment obligations
of the Company under the Securities and the Indenture;

          WHEREAS, Holdco desires to assume joint and several liability for the
obligations of the Company to pay the principal of, premium, if any, Liquidated
Damages, if any, and interest on, the Securities on the dates and in the manner
provided in the Securities;

          WHEREAS, Section 11.01 of the Original Indenture provides that the
Company and the Trustee may from time to time amend or supplement the Indenture
without the consent of any Holders of the Securities, in order to, among other
things, make any change that does not adversely affect the interests of any
Holders under the Indenture;

          WHEREAS, all actions necessary to make this Second Supplemental
Indenture and the Securities valid, binding and enforceable obligations of the
Company and, to the extent applicable, Holdco, have been performed and
fulfilled; and

          NOW, THEREFORE, for and in consideration of the premises and mutual
covenants herein contained each party agrees as follows for the benefit of the
other party and for the equal and ratable benefit of the Holders of the
Securities:

1                                    ARTICLE
                                   DEFINITIONS

1.1       SECTION GENERAL. For all purposes of the Indenture and this Second
Supplemental Indenture, except as otherwise expressly provided or unless the
context otherwise requires:

          (a)       the words "herein", "hereof" and "hereunder" and other words
          of similar import refer to the Indenture and this Second Supplemental
          Indenture as a whole and not to any particular Article, Section or
          subdivision; and

          (b)       capitalized terms used but not defined herein shall have the
          meanings assigned to them in the Indenture.

                                       3

2                                    ARTICLE
                 ASSUMPTION OF JOINT AND SEVERAL LIABILITY, ETC.

          2.1       SECTION ASSUMPTION OF JOINT AND SEVERAL LIABILITY FOR
          PAYMENT OBLIGATIONS OF THE COMPANY. Effective as of the date hereof,
          Holdco hereby assumes joint and several liability for the obligations
          of the Company to pay the principal of, premium, if any, Liquidated
          Damages, if any, Offer Amount, if any, and interest on, the Securities
          on the dates and in the manner provided in the Indenture and the
          Securities. The obligations of Holdco to make payments with respect to
          the Securities shall be subordinated to the same extent as the
          obligations of the Company with respect to the Securities.
          Accordingly, Article VI of the Indenture is hereby applicable to
          Holdco as well as the Company, such that references therein to the
          Company also shall apply to Holdco; in addition, for purposes of the
          defined term "Senior Debt" as it is used in the Indenture, all
          references therein to the Company also shall apply to Holdco.

          2.2       SECTION RIGHTS, POWERS AND OBLIGATIONS OF THE COMPANY
          CONTINUE. Except as expressly set forth in Section 2.01 of the First
          Supplemental Indenture, the Company shall continue to exercise all of
          the rights and powers of the Company under the Indenture and the
          Securities and shall remain liable for all of the obligations of the
          Company thereunder, including the performance and observance of every
          covenant of the Indenture to be performed or observed on the part of
          the Company.

                    SECTION 2.03 AGENCIES. Holdco shall be bound by and shall
          have the benefit of the provisions of Section 2.03 of the Indenture to
          the extent relating to Paying Agents as if references therein to the
          Company were also to Holdco and shall be deemed to have appointed the
          Trustee as its Paying Agent for the Securities.

                    SECTION 2.04 COMPLIANCE CERTIFICATES. To the extent
          applicable to Holdco, Holdco shall be bound by the first two
          paragraphs of Section 4.03 of the Indenture as if references therein
          (i) to the Company were also to Holdco, (ii) to Officers were also to
          the corresponding officers of Holdco and (iii) to Officers'
          Certificates were also to certificates signed by two of such
          corresponding officers of Holdco.

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                    SECTION 2.05 STAY, EXTENSION AND USURY LAWS. Holdco shall be
          bound by the provisions of Section 4.04 of the Indenture as if
          references therein to the Company were also to Holdco.

                    SECTION 2.06 EVENTS OF DEFAULT. Clauses (a), (b), (c) and
          (d) of Section 8.01 of the Indenture hereby are amended and restated
          in their entirety to read as follows:

          (a)       there is a default in the payment of interest or Liquidated
          Damages, if any, (and Additional Amounts, if applicable) on any Note
          when the same becomes due and payable and the Default continues for a
          period of 30 days after the date due and payable;

          (b)       there is a default in the payment of the principal of any
          Note when the same becomes due and payable at maturity, upon
          redemption or otherwise;

          (c)       there is a failure to observe or perform any covenant or
          agreement contained in Section 4.07 hereof;

          (d)       the Company or Holdco fails to observe or perform any other
          covenant or agreement contained in this Indenture, required by it to
          be performed and the Default continues for a period of 60 days after
          notice from the Trustee to the Company or from the Holders of 25% in
          aggregate principal amount of the then outstanding Notes to the
          Company and the Trustee stating that such notice is a "Notice of
          Default";

          SECTION 2.07 ACCELERATION. The fifth sentence of Section 8.02 of the
Indenture hereby is amended to provide that the words "or Holdco" be added after
the first two references to "Company" contained therein.

          SECTION 2.08 COLLECTION SUIT BY TRUSTEE. Section 8.08 of the Indenture
hereby is amended by adding the words "or any other obligor upon the Notes"
after the word "Company" in the second line thereof.

          SECTION 2.09 PROOFS OF CLAIM. Section 8.09 of the Indenture hereby is
amended by adding the following words at the end of the first sentence thereof,
"or any other obligor upon the Notes, its creditors or its property".

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          SECTION 2.10 NOTICES. Section 12.02 of the Indenture hereby is amended
by adding the word ", Holdco" after the word "Company" in the first and second
sentences thereof and by adding the words "or Holdco" after the word "Company"
in the fourth paragraph thereof. The fifth paragraph of Section 12.10 of the
Indenture is hereby amended to read as follows:

                     The Company's and Holdco's address is:

           NTL Communications Corp. or NTL Incorporated, as applicable
                           110 East 59th Street
                           New York, New York, 10022
                           Attention: Secretary
                           Facsimile: (212) 906-8474

          SECTION 2.11 NO RECOURSE AGAINST OTHERS. The directors, officers,
employees and stockholders of Holdco shall have the benefit of the provisions of
Section 12.08 of the Indenture as if references therein to the Company were also
to Holdco.

3                                    ARTICLE
                                  MISCELLANEOUS

          3.1       SECTION EFFECT OF SECOND SUPPLEMENTAL INDENTURE. Upon the
          execution and delivery of this Second Supplemental Indenture by
          Holdco, the Company and the Trustee, the Indenture shall be
          supplemented in accordance herewith, and this Second Supplemental
          Indenture shall form a part of the Indenture for all purposes, and
          every Holder of Securities heretofore or hereafter authenticated and
          delivered under the Indenture shall be bound thereby.

          3.2       SECTION NOTATION REFLECTING SECOND SUPPLEMENTAL INDENTURE.
          The Trustee may place an appropriate notation about the Second
          Supplemental Indenture on any Security authenticated after the
          execution and delivery of this Second Supplemental Indenture. The
          Company in exchange for all Securities may issue and the Trustee shall
          authenticate new Securities that reflect the Second Supplemental
          Indenture.

          3.3       SECTION INDENTURE REMAINS IN FULL FORCE AND EFFECT. Except
          as supplemented hereby, all provisions in the Indenture shall remain
          in full force and effect.

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          3.4       SECTION INDENTURE AND SECOND SUPPLEMENTAL INDENTURE
          CONSTRUED Together. This Second Supplemental Indenture is an indenture
          supplemental to and in implementation of the Indenture and the
          Indenture and this Second Supplemental Indenture shall henceforth be
          read and construed together.

          3.5       SECTION CONFIRMATION AND PRESERVATION OF INDENTURE. The
          Indenture as supplemented by this Second Supplemental Indenture is in
          all respects confirmed and preserved.

          3.6       SECTION CONFLICT WITH TRUST INDENTURE ACT. If any provision
          of this Second Supplemental Indenture limits, qualifies or conflicts
          with any provision of the Trust Indenture Act that is required under
          the Trust Indenture Act to be part of and govern any provision of this
          Second Supplemental Indenture, the provision of the Trust Indenture
          Act shall control. If any provision of this Second Supplemental
          Indenture modifies or excludes any provision of the Trust Indenture
          Act that may be so modified or excluded, the provision of the Trust
          Indenture Act shall be deemed to apply to the Indenture as so modified
          or to be excluded by this Second Supplemental Indenture, as the case
          may be.

          3.7       SECTION SEVERABILITY. In case any provision in this Second
          Supplemental Indenture shall be invalid, illegal or unenforceable, the
          validity, legality and enforceability of the remaining provisions
          shall not in any way be affected or impaired thereby.

          3.8       SECTION HEADINGS. The Article and Section headings of this
          Second Supplemental Indenture have been inserted for convenience of
          reference only, are not to be considered a part of this Second
          Supplemental Indenture and shall in no way modify or restrict any of
          the terms or provisions hereof.

          3.9       SECTION BENEFITS OF SECOND SUPPLEMENTAL INDENTURE, ETC.
          Nothing in this Second Supplemental Indenture or the Securities,
          express or implied, shall give to any Person, other than the parties
          hereto and thereto and their successors hereunder and thereunder and
          the Holders of the Securities, any benefit or any legal or equitable
          right, remedy or claim under the Indenture, this Second Supplemental
          Indenture or the Securities.

          3.10      SECTION SUCCESSORS. All agreements of the Company and Holdco

          in        this Second Supplemental Indenture shall bind their
                    respective successors.

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          All agreements of the Trustee in this Second Supplemental Indenture
          shall bind its successors.

          3.11      SECTION TRUSTEE NOT RESPONSIBLE FOR RECITALS. The Trustee
          accepts the amendments to the Indenture effected by the Second
          Supplemental Indenture and agrees to perform the same upon the terms
          of the Indenture as supplemented by this Second Supplemental
          Indenture. Without limiting the generality of the foregoing, the
          Trustee shall not be liable or responsible for the validity as to the
          Company and Holdco or sufficiency of this Second Supplemental
          Indenture or as to the due execution hereof by the Company and Holdco
          or as to recitals of fact contained herein, all of which are made by
          the Company and Holdco solely.

          3.12      SECTION CERTAIN DUTIES AND RESPONSIBILITIES OF THE TRUSTEE.
          In entering into this Second Supplemental Indenture, the Trustee shall
          be entitled to the benefit of every provision of the Indenture
          relating to the conduct or affecting the liability of or affording
          protection to the Trustee, whether or not elsewhere herein so
          provided.

          3.13      SECTION GOVERNING LAW. The internal law of the State of New
          York shall govern and be used to construe this Second Supplemental
          Indenture.

          3.14      SECTION COUNTERPART ORIGINALS. The parties may sign any
          number of copies of this Second Supplemental Indenture. Each signed
          copy shall be an original, but all of them together represent the same
          agreement.

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          IN WITNESS WHEREOF, the parties hereto have caused this Second
Supplemental Indenture to be duly executed, all as of the date first above
written.

                   NTL COMMUNICATIONS CORP.

                        By:      /s/ Richard J. Lubasch
                        Name:    Richard J. Lubasch
                        Title:
                                 Executive Vice President, General Counsel and
                                 Secretary

                   NTL INCORPORATED

                        By:      /s/ Richard J. Lubasch
                        Name:    Richard J. Lubasch
                        Title:
                                 Executive Vice President, General Counsel and
                                 Secretary

                   THE CHASE MANHATTAN BANK, as Trustee

                        By:      /s/ Robert S. Peschler
                        Name:    Robert S. Peschler
                        Title:   Assistant Vice President

                                       9<PAGE>   1
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                            NTL COMMUNICATIONS CORP.,

                                NTL INCORPORATED,

                            NTL HOLDINGS INCORPORATED

                                       and

                            THE CHASE MANHATTAN BANK,
                                   as Trustee

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

                          THIRD SUPPLEMENTAL INDENTURE

                            Dated as of May 17, 2000

           Supplementing the Indenture, dated as of December 16, 1998,
           between NTL Communications Corp. (formerly known as NTL
           Incorporated) and The Chase Manhattan Bank, as Trustee, as
           amended by the First Supplemental Indenture, dated as of March
           31, 1999, among NTL Incorporated (formerly known as NTL
           Communications Corp.), NTL Communications Corp. (formerly
           known as NTL Incorporated) and The Chase Manhattan Bank, as
           Trustee, and by the Second Supplemental Indenture, dated as of
           March 16, 2000, among NTL Incorporated, NTL Communications
           Corp., and The Chase Manhattan Bank, as Trustee

                   7% CONVERTIBLE SUBORDINATED NOTES DUE 2008

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<PAGE>   2

         THIRD SUPPLEMENTAL INDENTURE, dated as of May 17, 2000, among NTL
Communications Corp., a Delaware corporation (the "COMPANY"), NTL Incorporated,
a Delaware corporation ("NTL"), NTL Holdings Incorporated, a Delaware
corporation and a direct wholly-owned subsidiary of NTL ("Holdco") and The Chase
Manhattan Bank, a New York corporation, as trustee (the "TRUSTEE").

                                   WITNESSETH:

         WHEREAS, the Company and the Trustee previously executed and delivered
the Indenture, dated as of December 16, 1998 (the "ORIGINAL INDENTURE"),
providing for the creation, execution, authentication and delivery of the
Company's 7% Convertible Subordinated Notes due 2008 (each a "SECURITY" and
collectively, the "SECURITIES"), which Securities were initially convertible
into shares of common stock, par value $0.01 per share, of the Company in
accordance with the terms and conditions of the Original Indenture;

         WHEREAS, on March 26, 1999, the Company, NTL (formerly known a NTL
Communications Corp.) and NTL Mergerco, Inc., a Delaware corporation that was a
direct wholly-owned subsidiary of NTL and an indirect wholly-owned subsidiary of
the Company ("FIRST MERGER SUB"), entered into an Agreement and Plan of Merger
(the "FIRST MERGER AGREEMENT"), pursuant to which, among other things, effective
April 1, 1999, First Merger Sub was merged with and into the Company in
accordance with Section 251(g) of the General Corporation Law of the State of
Delaware (the "FIRST MERGER"), with the Company continuing as the surviving
corporation under the name "NTL Communications Corp." and as a direct
wholly-owned subsidiary of NTL;

         WHEREAS, pursuant to the First Merger, each outstanding share of
Company Common Stock was converted into the right to receive one validly issued,
fully paid and nonassessable share of common stock, par value $0.01 per share,
of NTL (the "NTL COMMON STOCK");

         WHEREAS, immediately prior to the First Merger, the Company, NTL and
the Trustee entered into the First Supplemental Indenture, dated as of March 31,
1999 (the "FIRST SUPPLEMENTAL INDENTURE"), pursuant to which, effective with the
consummation of the First Merger, NTL assumed the obligation to issue shares of
NTL Common Stock upon conversion of the Securities;

<PAGE>   3

         WHEREAS, subsequent to the First Merger, the Company, NTL and the
Trustee entered into the Second Supplemental Indenture, dated as of March 16,
2000 (the "SECOND SUPPLEMENTAL INDENTURE" and together with the Original
Indenture and the First Supplemental Indenture, the "INDENTURE"), pursuant to
which NTL assumed joint and several liability for all obligations of the Company
to pay the principal of, premium, if any, Liquidated Damages, if any, Offer
Amount, if any, and interest on, the Securities on the dates and in the manner
provided in the Securities;

         WHEREAS, Section 11.01 of the Indenture provides that the Company and
the Trustee may from time to time amend or supplement the Indenture without the
consent of any holders of the Securities, in order to, among other things,
comply with Section 5.12 of the Indenture regarding the effect of
reclassifications, consolidations, mergers or sales on conversion privileges and
to make any change that does not adversely affect the interests of any Holders
under the Indenture;

         WHEREAS, on February 9, 2000, NTL, Holdco and Holdings Merger Sub Inc.,
a Delaware corporation and a direct wholly-owned subsidiary of Holdco and an
indirect wholly-owned subsidiary of NTL ("SECOND MERGER SUB"), entered into an
Agreement and Plan of Merger (the "SECOND MERGER AGREEMENT"), pursuant to which,
among other things, Second Merger Sub shall be merged with and into NTL in
accordance with Section 251(g) of the General Corporation Law of the State of
Delaware (the "SECOND MERGER"), with NTL continuing as the surviving corporation
(the "SURVIVING CORPORATION") under the name "NTL (Delaware), Inc." and as a
direct wholly-owned subsidiary of Holdco;

         WHEREAS, pursuant to the Second Merger, each outstanding share of NTL
Common Stock shall be converted into the right to receive one validly issued,
fully paid and nonassessable share of common stock, par value $0.01 per share,
of Holdco (the "HOLDCO COMMON STOCK");

         WHEREAS, upon consummation of the Second Merger and except as expressly
set forth in Section 2.01 of this Third Supplemental Indenture, NTL as the
Surviving Corporation and the Company shall continue to be liable for the
obligations of NTL and the Company under the Securities and the Indenture;

         WHEREAS, Holdco desires to assume joint and several liability for the
obligations of NTL and the Company to pay the principal of, premium, if any,
Liquidated Damages, if any, Offer Amount, if any, and interest on, the
Securities on the dates and in the manner provided in the Securities; and

                                       3
<PAGE>   4

         WHEREAS, all actions necessary to make this Third Supplemental
Indenture and the Securities valid, binding and enforceable obligations of the
Company and, to the extent applicable, NTL and Holdco, have been performed and
fulfilled;

         NOW, THEREFORE, for and in consideration of the premises and mutual
covenants herein contained each party agrees as follows for the benefit of the
other party and for the equal and ratable benefit of the holders of the
Securities:

1                                    ARTICLE
                                   DEFINITIONS

         1.1      SECTION GENERAL. For all purposes of the Indenture, except as
         otherwise expressly provided or unless the context otherwise requires:

         (a)      the words "herein", "hereof" and "hereunder" and other words
         of similar import refer to the Indenture and this Third Supplemental
         Indenture as a whole and not to any particular Article, Section or
         subdivision; and

         (b)      capitalized terms used but not defined herein shall have the
         meanings assigned to them in the Indenture.

2                                    ARTICLE
                EFFECT OF SECOND MERGER ON CONVERSION PRIVILEGE;
                         ADJUSTMENT OF CONVERSION PRICE

         2.1      SECTION CONVERSION OF SECURITIES FOR HOLDCO COMMON STOCK. In
         accordance with Section 5.12 of the Original Indenture and Section 2.01
         of the First Supplemental Indenture, upon and as of the consummation of
         the Second Merger, the holder of each Security then outstanding shall
         have the right to convert such Security into the amount of shares of
         Holdco Common Stock receivable upon effectiveness of the Second Merger
         by a holder of the number of shares of NTL Common Stock deliverable
         upon conversion of such Security immediately prior to the Second
         Merger. All of the covenants and provisions by or for the benefit of
         the Company and NTL that are contained in Article V of the Original
         Indenture and Section 2.01 of the First Supplemental Indenture relating
         to the conversion of the Securities shall, upon consummation of the
         Second Merger, bind and inure to the benefit of Holdco, including
         without limitation the covenant set forth in Section 5.05 of the
         Original Indenture, which shall require that Holdco at all times
         reserve and

                                       5
<PAGE>   5

         keep available, free from preemptive rights, out of authorized but
         unissued Holdco Common Stock and solely for the purpose of issuance
         upon conversion of Securities, a sufficient number of shares of Holdco
         Common Stock to permit conversion of all outstanding Securities for
         shares of Holdco Common Stock;.

         2.2      SECTION ADJUSTMENTS. Upon consummation of the Second Merger,
         any adjustments of the Conversion Price shall continue to be made in
         accordance with Article V of the Original Indenture and Section 2.02 of
         the First Supplemental Indenture, except that adjustments previously
         applicable with respect the NTL Common Stock, shall then be applicable
         in the same manner with respect to the Holdco Common Stock.

         2.3      SECTION RIGHTS UPON CONVERSION. Nothing in this Third
         Supplemental Indenture shall be construed to affect in any way the
         right that a holder of a Security may otherwise have, pursuant to
         clause (ii) of the last sentence of subsection (c) of Section 5.06 of
         the Original Indenture and Section 2.03 of the First Supplemental
         Indenture, to receive Rights upon conversion of a Security.

         2.4      SECTION HOLDCO AS SIGNATORY. In accordance with Section 5.12
         of the Indenture, Holdco, as the issuer of the consideration receivable
         by holders of NTL Common Stock upon consummation of the Second Merger,
         has also executed this Third Supplemental Indenture.

3                                    ARTICLE
                 ASSUMPTION OF JOINT AND SEVERAL LIABILITY, ETC.

         3.1      SECTION ASSUMPTION OF JOINT AND SEVERAL LIABILITY FOR PAYMENT
         OBLIGATIONS OF THE COMPANY. Effective as of the date hereof, Holdco
         hereby assumes joint and several liability for the obligations of the
         Company to pay the principal of, premium, if any, Liquidated Damages,
         if any, Offer Amount, if any, and interest on, the Securities on the
         dates and in the manner provided in the Indenture and the Securities.
         The obligations of Holdco to make payments with respect to the
         Securities shall be subordinated to the same extent as the obligations
         of the Company with respect to the Securities. Accordingly, Article VI
         of the Original Indenture is hereby applicable to Holdco as well as the
         Company, such that references therein to the Company also shall apply
         to Holdco; in addition, for purposes of the defined term "Senior Debt"
         as it is used in the Indenture, all references therein to the Company
         also shall apply to Holdco.

                                       5
<PAGE>   6

         3.2      SECTION AGENCIES. Holdco shall be bound by and shall have the
         benefit of the provisions of Section 2.03 of the Indenture to the
         extent relating to Paying Agents as if references therein to the
         Company were also to Holdco and shall be deemed to have appointed the
         Trustee as its Paying Agent for the Securities.

         3.3      SECTION COMPLIANCE CERTIFICATES. To the extent applicable to
         Holdco, Holdco shall be bound by the first two paragraphs of Section
         4.03 of the Indenture as if references therein (i) to the Company were
         also to Holdco, (ii) to Officers were also to the corresponding
         officers of Holdco and (iii) to Officers' Certificates were also to
         certificates signed by two of such corresponding officers of Holdco.

         3.4      SECTION STAY, EXTENSION AND USURY LAWS. Holdco shall be bound
         by the provisions of Section 4.04 of the Indenture as if references
         therein to the Company were also to Holdco.

         3.5      SECTION EVENTS OF DEFAULT. Clause (d) of Section 8.01 of the
         Indenture hereby is amended and restated in its entirety to read as
         follows:

                  (d) the Company, NTL or Holdco fails to observe or perform any
         other covenant or agreement contained in this Indenture, required by it
         to be performed and the Default continues for a period of 60 days after
         notice from the Trustee to the Company or from the Holders of 25% in
         aggregate principal amount of the then outstanding Notes to the Company
         and the Trustee stating that such notice is a "Notice of Default";

         3.6      SECTION ACCELERATION. The fifth sentence of Section 8.02 of
         the Indenture hereby is amended to delete the words "or Holdco" after
         the first two references to "Company" contained therein and replace
         them in each case with the words ", NTL or Holdco".

         3.7      SECTION NOTICES. Section 12.02 of the Indenture is hereby
         amended by deleting the word ", Holdco" after the word "Company" in the
         first and second sentences thereof and replacing it in each case with
         words ", NTL, Holdco". The fourth paragraph of Section 12.02 of the
         Indenture is hereby amended by deleting the words "or Holdco" after the
         word "Company" and replacing them with the words ", NTL or Holdco." The
         fifth paragraph of Section 12.10 of the Indenture is hereby amended to
         read as follows:

                  The Company's, NTL's and Holdco's address is:

                                       6
<PAGE>   7

                  NTL Communications Corp., NTL Incorporated or
                  NTL Holdings Incorporated, as applicable
                  110 East 59th Street
                  New York, New York, 10022
                  Attention: Secretary
                  Facsimile: (212) 906-8497

         3.8      SECTION NO RECOURSE AGAINST OTHERS. The directors, officers,
         employees and stockholders of Holdco shall have the benefit of the
         provisions of Section 12.08 of the Indenture as if references therein
         to the Company were also to Holdco.

4                                    ARTICLE
                                  MISCELLANEOUS

         4.1      SECTION RIGHTS, POWERS AND OBLIGATIONS OF NTL AND THE COMPANY
         Continue. Except as expressly set forth in Section 2.01 of this Third
         Supplemental Indenture, NTL and the Company shall continue to exercise
         all of the rights and powers of NTL and the Company under the Indenture
         and the Securities and shall continue to be liable for all of the
         obligations of NTL and the Company thereunder, including the
         performance and observance of every covenant of the Indenture to be
         performed or observed on the part of NTL and/or the Company.

         4.2      SECTION EFFECT OF THIRD SUPPLEMENTAL INDENTURE. Upon the
         execution and delivery of this Third Supplemental Indenture by the
         Company, NTL, Holdco and the Trustee, the Indenture shall be
         supplemented in accordance herewith, and this Third Supplemental
         Indenture shall form a part of the Indenture for all purposes, and
         every holder of Securities heretofore or hereafter authenticated and
         delivered under the Indenture shall be bound thereby.

         4.3      SECTION NOTATION REFLECTING THIRD SUPPLEMENTAL INDENTURE. The
         Trustee may place an appropriate notation about the Third Supplemental
         Indenture on any Security authenticated after the execution and
         delivery of this Third Supplemental Indenture. The Company in exchange
         for all Securities may issue and the Trustee shall authenticate new
         Securities that reflect the Third Supplemental Indenture.

         4.4      SECTION INDENTURE REMAINS IN FULL FORCE AND EFFECT. Except as
         supplemented hereby, all provisions in the Indenture shall remain in
         full force and effect.

                                       7
<PAGE>   8

         4.5      SECTION INDENTURE AND THIRD SUPPLEMENTAL INDENTURE CONSTRUED
         Together. This Third Supplemental Indenture is an indenture
         supplemental to and in implementation of the Indenture, and the
         Indenture, and this Third Supplemental Indenture shall henceforth be
         read and construed together.

         4.6      SECTION CONFIRMATION AND PRESERVATION OF INDENTURE. The
         Indenture as supplemented by this Third Supplemental Indenture are in
         all respects confirmed and preserved.

         4.7      SECTION CONFLICT WITH TRUST INDENTURE ACT. If any provision of
         this Third Supplemental Indenture limits, qualifies or conflicts with
         any provision of the Trust Indenture Act that is required under the
         Trust Indenture Act to be part of and govern any provision of this
         Third Supplemental Indenture, the provision of the Trust Indenture Act
         shall control. If any provision of this Third Supplemental Indenture
         modifies or excludes any provision of the Trust Indenture Act that may
         be so modified or excluded, the provision of the Trust Indenture Act
         shall be deemed to apply to the Indenture as so modified or to be
         excluded by this Third Supplemental Indenture, as the case may be.

         4.8      SECTION SEVERABILITY. In case any provision in this Third
         Supplemental Indenture shall be invalid, illegal or unenforceable, the
         validity, legality and enforceability of the remaining provisions shall
         not in any way be affected or impaired thereby.

         4.9      SECTION HEADINGS. The Article and Section headings of this
         Third Supplemental Indenture have been inserted for convenience of
         reference only, are not to be considered a part of this Third
         Supplemental Indenture and shall in no way modify or restrict any of
         the terms or provisions hereof.

         4.10     SECTION BENEFITS OF THIRD SUPPLEMENTAL INDENTURE, ETC. Nothing
         in this Third Supplemental Indenture or the Securities, express or
         implied, shall give to any Person, other than the parties hereto and
         thereto and their successors hereunder and thereunder and the holders
         of the Securities, any benefit or any legal or equitable right, remedy
         or claim under the Indenture, this Third Supplemental Indenture or the
         Securities.

         4.11     SECTION SUCCESSORS. All agreements of the Company, NTL and
         Holdco in this Third Supplemental Indenture shall bind their respective
         successors. All agreements of the Trustee in this Third Supplemental
         Indenture shall bind its successors.

                                       8
<PAGE>   9

         4.12     SECTION TRUSTEE NOT RESPONSIBLE FOR RECITALS. The Trustee
         accepts the amendments to the Indenture effected by this Third
         Supplemental Indenture and agrees to perform the same upon the terms of
         the Indenture as supplemented by this Third Supplemental Indenture.
         Without limiting the generality of the foregoing, the Trustee shall not
         be liable or responsible for the validity as to the Company, NTL and
         Holdco or sufficiency of this Third Supplemental Indenture or as to the
         due execution hereof by the Company, NTL and Holdco or as to recitals
         of fact contained herein, all of which are made solely by the Company,
         NTL and Holdco.

         4.13     SECTION CERTAIN DUTIES AND RESPONSIBILITIES OF THE TRUSTEE. In
         entering into this Third Supplemental Indenture, the Trustee shall be
         entitled to the benefit of every provision of the Indenture relating to
         the conduct or affecting the liability of or affording protection to
         the Trustee, whether or not elsewhere herein so provided.

         4.14     SECTION GOVERNING LAW. The internal law of the State of New
         York shall govern and be used to construe this Third Supplemental
         Indenture.

         4.15     SECTION COUNTERPART ORIGINALS. The parties may sign any number
         of copies of this Third Supplemental Indenture. Each signed copy shall
         be an original, but all of them together represent the same agreement.

         4.16     SECTION NOTICE OF SECOND MERGER. Holdco will give the Trustee
         prompt notice of the consummation of the Second Merger.

                                       9
<PAGE>   10

         IN WITNESS WHEREOF, the parties hereto have caused this Third
Supplemental Indenture to be duly executed, all as of the date first above
written.

                            NTL COMMUNICATIONS CORP.

                            By:          /s/ Richard J. Lubasch
                               Name:     Richard J. Lubasch
                               Title:    Executive Vice President, General
                                              Counsel and Secretary

                            NTL INCORPORATED

                            By:         /s/ Richard J. Lubasch
                                Name:   Richard J. Lubasch
                                Title:  Executive Vice President, General
                                              Counsel and Secretary

                            NTL HOLDINGS INCORPORATED

                            By:         /s/ Richard J. Lubasch
                                Name:   Richard J. Lubasch
                                Title:  Executive Vice President, General
                                              Counsel and Secretary

                            THE CHASE MANHATTAN BANK, as Trustee

                            By: /s/ Robert S. Peschler
                                Name: Robert S. Peschler
                                Title: Assistant Vice President

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