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Technology Stocks : Adelphia (ADLAC) Another Cable Modem Player -- Ignore unavailable to you. Want to Upgrade?

To: vedia who wrote (17)	5/16/1998 8:17:00 PM
From: John J. Frawley	Respond to 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