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Adelphia to Spin Off Business Unit

As expected, Adelphia Communications Corp. said it would spin off its 79
percent equity interest in Adelphia Business Solutions Inc. to shareholders.

In a press release, Adelphia said it would distribute the shares no later
than March 31, 2002.

The company may also provide up to $100 million of additional credit support
to the business-telephony unit in connection with the spinoff, it
said.