ACC Claims starts exchange for allowed claims against Adelphia

New York, March 3 – ACC Claims Holdings, LLC said it has begun an exchange offer in which holders can receive limited liability company interests for their allowed senior note claims, trade claims and other unsecured claims against Adelphia Communications Corp.

Specifically, ACC Claims is offering:

• Class A limited liability company interests of ACC Claims Holdings, LLC for up to all of the outstanding Adelphia Communications senior notes claims (Class ACC 3) allowed under Adelphia’s plan of reorganization, including any post-petition pre-effective date interest and post-effective date interest up to and including the expiration date of the offers;

• Class B limited liability company interests of ACC Claims Holdings, LLC for up to all of the outstanding Adelphia Communications trade claims (Class ACC 4) allowed under the Adelphia’s plan of reorganization, including any post-petition pre-effective date interest and post-effective date interest up to and including the expiration date of the offers; and

• Class B limited liability company interests of ACC Claims Holdings, LLC for up to all of the outstanding Adelphia Communications other Unsecured claims (Class ACC 5) allowed under Adelphia’s plan of reorganization, including any post-petition pre-effective date interest and post-effective date interest up to and including the expiration date of the offers.

The exchanges run until 5 p.m. ET on March 31.

The offers are contingent upon, among other things, the tender of at least 90% of the claims held by eligible holders and the bankruptcy court having granted and not modified or revoked a motion to waive the notice requirement of Bankruptcy Rule 3001(e) with respect to the transfers of other claims from the holders to ACC Claims Holdings, LLC.

The exchange is being conducted under Rule 144A and Regulation S. Accredited institutional investors may also be participate.

Deutsche Bank Securities Inc. (855 287-1922 or 212 250-7527) is the dealer manager.

D.F. King & Co., Inc. is the exchange agent and information agent (www.dfking.com/adelphia, 800 761-6523 or 212 269-5550).

ACC Claims Holdings is a Delaware limited liability company formed on Nov. 18 for the purpose of liquidating the claims and distributing the proceeds to the holders of its limited liability company interests.

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