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Technology Stocks : Adelphia (ADLAC) Another Cable Modem Player
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To: vedia who wrote (17)5/16/1998 8:17:00 PM
From: John J. Frawley   of 41
 
Senior Notes Redemention

COUDERSPORT, Pa., April 9 /PRNewswire/ -- John J. Rigas, Chairman and CEO
of Adelphia Communications Corporation (Nasdaq-NNM: ADLAC), announced that
Adelphia will redeem all of its remaining outstanding 12-1/2% Senior Notes due
2002 (the "Senior Notes"), which were originally issued pursuant to an
Indenture dated May 7, 1992 between Adelphia and Bank of Montreal Trust
Company, as trustee and paying agent. There are approximately $69.8 million
of Senior Notes currently outstanding. The Senior Notes
(Cusip Number 006848AC9) will be redeemed at a price of $103, plus accrued
interest accrued to the redemption date, which will be May 15, 1998. Holders
of the Senior Notes will receive a notice of redemption from the Company
describing how to surrender such notes to the Bank of Montreal in exchange for
the redemption price.
Adelphia Communications Corporation is the seventh largest cable
television operator in the United States and currently owns or manages cable
television systems serving approximately 1.9 million subscribers in 12 states.

SOURCE Adelphia Communications Corporation
/CONTACT: Timothy J. Rigas, Executive Vice President of Adelphia,
814-274-9830/
(ADLAC)
go2net.newsalert.com
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