News

ACC Claims Holdings, LLC Commences Exchange Offers with respect to certain Claims allowed under the First Modified Fifth Amended

[STK]

[IN] FIN

[SU] BCY

TO BUSINESS EDITORS:

ACC Claims Holdings, LLC Commences Exchange Offers with respect to

certain Claims allowed under the First Modified Fifth Amended Joint

Chapter 11 Plan for Adelphia Communications Corporation and Certain of

Its Affiliated Debtors

NEW YORK, March 3, 2016 /PRNewswire/ –ACC Claims Holdings, LLC

announced the commencement of offers to Eligible Holders (as defined

below) to exchange (i) class A limited liability company interests of

ACC Claims Holdings, LLC for up to all of the outstanding ACC Senior

Notes Claims (Class ACC 3) allowed under the Plan of Reorganization,

including any post-petition pre-effective date interest and

post-effective date interest to and including the expiration date of

the offers (the “Senior Claims”), against Adelphia Communications

Corporation, and (ii) class B limited liability company interests of

ACC Claims Holdings, LLC for up to all of the outstanding ACC Trade

Claims (Class ACC 4) allowed under the Plan of Reorganization,

including any post-petition pre-effective date interest and

post-effective date interest to and including the expiration date of

the offers (the “ACC 4 Claims”), and ACC Other Unsecured Claims (Class

ACC 5) allowed under the Plan of Reorganization, including any

post-petition pre-effective date interest and post-effective date

interest to and including the expiration date of the offers (the “ACC

5 Claims” and, together with the ACC 4 Claims, the “Other Claims”; the

Senior Claims and the Other Claims, together, the “Claims”), against

Adelphia Communications Corporation. The exchange offers are being

made pursuant to the offers to exchange and the related letter of

transmittal, each dated as of March 3, 2016. The exchange offers will

expire at 5:00 p.m., New York City time, on March 31,2016, unless

extended (the “Expiration Date”). Eligible Holders of Senior Claims

that are validly tendered and not withdrawn on or prior to the

Expiration Date and accepted for exchange will receive consideration

in the form of class A limited liability company interests in ACC

Claims Holdings, LLC, as described in the offers to exchange.

Eligible Holders of Other Claims that are validly tendered and not

withdrawn on or prior to the Expiration Date and accepted for exchange

will receive consideration in the form of class B limited liability

company interests in ACC Claims Holdings, LLC, as described in the

offers to exchange.

The exchange offers are contingent upon, among other things,

satisfaction, or waiver by ACC Claims Holdings, LLC, of (i) a minimum

tender on the Expiration Date of 90% of the Claims held by Eligible

Holders outstanding and (ii) 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 holders of such Other Claims to ACC Claims Holdings, LLC. ACC

Claims Holdings, LLC may amend, extend or terminate the exchange

offers, in its sole discretion.

Any Claim tendered may be validly withdrawn at any time prior to the

Expiration Date.

The exchange offers will only be made, and the offers to exchange and

the related letter of transmittal will only be distributed to, holders

who complete, execute and return an eligibility form confirming that

they are qualified purchasers (“Qualified Purchasers”) as defined in

Section 2(a)(51)(A) of the Investment Company Act of 1940, as amended

(except to the extent waived by the managing member of ACC Claims

Holdings, LLC), excluding Benefit Plan Investors (as defined below),

each of which is (x) a qualified institutional buyer within the

meaning of Rule 144A under the Securities Act of 1933, as amended (the

“Securities Act”), (y) an institutional investor that qualifies as an

“accredited investor” pursuant to Rule 501(a)(1), (2), (3) or (7)

under the Securities Act or (z) not a U.S. person in an offshore

transaction, in each case as defined in Regulation S under the

Securities Act (such persons, “Eligible Holders”). “Benefit Plan

Investor” means a benefit plan investor, as defined in Section 3(42)

of the Employee Retirement Income Security Act of 1974, as amended

(“ERISA”), and includes (a) an employee benefit plan (as defined in

Section 3(3) of Title I of ERISA) that is subject to the fiduciary

responsibility provisions of Title I of ERISA, (b) a plan that is

subject to Section 4975 of the Internal Revenue Code of 1986, as

amended (the “Code”), or (c) any entity whose underlying assets

include, or are deemed for purposes of ERISA or the Code to include,

“plan assets” by reason of any such employee benefit plan’s or plan’s

investment in the entity. Holders who desire to obtain and complete

an eligibility form should either visit the website for this purpose

at www.dfking.com/adelphia or call D.F. King & Co., Inc., the

information agent and exchange agent for the exchange offers, at (800)

761-6523 (toll-free) or (212) 269-5550 (collect for banks and brokers

only).

This press release is neither an offer to purchase or exchange nor a

solicitation of an offer to sell or exchange securities. The exchange

offers are being made pursuant to the terms and conditions contained

in the offers to exchange and the related letter of transmittal,

copies of which may be obtained from D. F. King & Co., Inc., the

information agent and exchange agent for the exchange offers, by

telephone at (800) 761-6523 (toll-free) or at (212) 269-5550 (collect

for banks and brokers only) or in writing at D. F. King & Co., Inc.,

48 Wall Street, 22nd Floor, New York, New York 10005, Attention:

Krystal Scrudato. Persons with questions regarding the exchange offers

should contact Deutsche Bank Securities Inc., the dealer manager for

the exchange offers, by telephone at (855) 287-1922 (toll-free) or

212-250-7527 (collect). The exchange offers are not being made to

holders in any jurisdiction in which the making of such offers would

be unlawful under applicable state securities, or “blue sky” laws, or

applicable securities laws of any other jurisdiction.

ACC Claims Holdings, LLC is a Delaware limited liability company

formed on November 18, 2015. ACC Claims Holdings, LLC exists solely

for the purpose of liquidating the claims and distributing the

proceeds thereof to the holders of its limited liability company

interests. ACC Claims Holdings, LLC does not conduct a trade or

business or engage in any transactions other than transactions merely

incidental to (i) liquidation of claims, whether by sale, transfer or

other disposition by ACC Claims Holdings, LLC or the claims held

thereby, or be merger, consolidation or other reorganization of ACC

Claims Holdings, LLC, or otherwise, and (ii) its dissolution.

This press release includes forward-looking statements as defined

under federal law. Although ACC Claims Holdings, LLC believes that its

expectations are based upon reasonable assumptions, no assurance can

be given that its goals will be achieved, including statements related

to the exchange offers. Actual results may vary materially. ACC Claims

Holdings, LLC undertakes no obligation to publicly update or revise

any forward-looking statement.

To view the original version on PR Newswire,

visit:http://www.prnewswire.com/news-releases/acc-claims-holdings-llc-commences-exchange-offers-with-respect-to-certain-claims-allowed-under-the-first-modified-fifth-amended-joint-chapter-11-plan-for-adelphia-communications-corporation-and-certain-of-its-affiliated-debtors-300230817.html

SOURCE ACC Claims Holdings, LLC

-0- 03/03/2016

/CONTACT: ACC CLAIMS HOLDINGS, LLC, ACC Claims Managing Member, LLC, its Managing Member, Craig R. Chobor, President; Tom Long, D.F. King & Co., Inc., 212-269-5550, tlong@dfking.com

CO: ACC Claims Holdings, LLC; Adelphia Communications Corporation

ST: New York

IN: FIN

SU: BCY

PRN

— NY38919 —

0000 03/03/2016 22:46:00 EDT http://www.prnewswire.com