GREENWOOD VILLAGE, Colo., Sept. 14 /PRNewswire-FirstCall/ -- The United
States Bankruptcy Court for the Southern District of New York today gave its
final approval to the hiring of UBS Investment Bank and Allen & Company LLC as
financial advisors for the Adelphia Communications Corporation
(OTC: ADELQ) sale process.
    "We are pleased that the Court has approved UBS and Allen as our financial
advisors for the sale process, as we continue our efforts to maximize value
for all Adelphia stakeholders," said Bill Schleyer, chairman and CEO of
Adelphia.  "We have been working diligently with UBS and Allen since early
July to assemble appropriate documents and information to accelerate the sales
process.  Based on preliminary widespread interest, we expect a robust sales
process."
    As previously announced, Adelphia will accept bids for the whole company
as well as for designated clusters through a formal process to be launched
later this month.  As part of that formal process, an information memorandum
will be distributed to parties that have signed a confidentiality agreement
with Adelphia.  It is expected that final bids will be received by year-end.

    About Adelphia
    Adelphia Communications Corporation is the fifth-largest cable television
company in the country.  It serves customers in 31 states and Puerto Rico, and
offers analog and digital video services, high-speed Internet access and other
advanced services over Adelphia's broadband networks.

    Cautionary Statement Regarding Forward-Looking Information
    This document includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended.  All statements regarding
Adelphia Communications Corporation's and its subsidiaries' and affiliates'
(collectively, the "Company") expected future financial position, results of
operations, cash flows, process for sale of the Company, restructuring and
financing plans, expected emergence from bankruptcy, business strategy,
budgets, projected costs, capital expenditures, network upgrades, products and
services, competitive positions, growth opportunities, plans and objectives of
management for future operations, as well as statements that include words
such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend,"
"may," "could," "should," "will," and other similar expressions are
forward-looking statements.  Such forward-looking statements are inherently
uncertain, and readers must recognize that actual results may differ
materially from the Company's expectations.  The Company does not undertake a
duty to update such forward-looking statements.  Factors that may cause actual
results to differ materially from those in the forward-looking statements
include the Company's pending bankruptcy proceeding, results of litigation
against the Company and government investigations of the Company, the effects
of government regulation including the actions of local cable franchising
authorities, the availability of financing, actions of the Company's
competitors, results and impacts of any process to sell the Company or its
assets, customer response to repackaged services, pricing and availability of
programming, equipment, supplies, and other inputs, the Company's ability to
upgrade its network, technological developments, and changes in general
economic conditions.  Many of these factors are outside of the Company's
control.

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