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More or less. IPs are numbered equivilent of hostnames, and they are created in groups of areas...
For example
80.1.121.1 = public1-walt4-3-cust1.walt.broadband.ntl.com
80.1.121.2 = public1-walt4-3-cust2.walt.broadband.ntl.com
80.1.121.3 = public1-walt4-3-cust3.walt.broadband.ntl.com
And are all on the Waltham Forest London borough part of the network. Its the part of the network your connected to, not nescessarily your town. I think Coventry users are actually connected to the Birmingham network.
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