SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.

Litigation Release No. 17837 / November 14, 2002

   Accounting Auditing Enforcement Release No. 1664 / November 14, 2002

   , 02 Civ. 5776 (S.D.N.Y.) (KMW)

   NEW YORK, NEW YORK The Securities and Exchange Commission announced
   today that defendant James R. Brown, the former vice-president for
   Finance at Adelphia Communications Corporation, has consented to the
   entry of a Partial Judgment of Permanent Injunction and Other Relief
   against him in SEC v. Adelphia, et al., a fraudulent financial
   reporting case filed by the Commission against Adelphia and six of its
   senior executives. According to the Commission's complaint, filed on
   July 24, 2002, Adelphia, at the direction of the individual
   defendants, including Brown (i) fraudulently excluded billions of
   dollars in liabilities from its consolidated financial statements;
   (ii) falsified operations statistics and inflated Adelphia's earnings
   to meet Wall Street's expectations; and (iii) concealed rampant
   self-dealing by the family that founded and controlled Adelphia, the
   Rigas Family.

   The Commission's Complaint alleges that, based on this conduct, Brown
   violated Section 17(a) of the Securities Act of 1933 ("Securities
   Act"), Sections 10(b) and 13(b)(5) of the Securities Exchange Act of
   1934 ("Exchange Act"), and Rules 10b-5, 13b2-1, and 13b2-2 under the
   Exchange Act, and, pursuant to Section 20(a) of the Exchange Act,
   acted as a controlling person of Adelphia's violations of Sections
   13(a) and 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rules
   12b-20, 13a-1 and 13a-13 under the Exchange Act.
   Specifically, the Commission's complaint alleges as follows
     * Between mid-1999 and the last quarter of 2001, Adelphia
       fraudulently excluded from the Company's annual and quarterly
       consolidated financial statements portions of its bank debt, while
       including in those financial statements a footnote disclosure
       implicitly misrepresenting that such portions had been included on
       Adelphia's balance sheet. As a result of this misconduct, Adelphia
       had a total of approximately $2.3 billion in undisclosed,
       off-balance sheet bank debt as of December 31, 2001.
     * During approximately the same period, Adelphia regularly
       misrepresented Adelphia's reported performance in three aspects
       that are crucial to the "metrics" used by Wall Street to evaluate
       cable companies (i) the number of its "basic cable subscribers,"
       (ii) the extent of its cable plant "rebuild," or upgrade, and
       (iii) its EBITDA, or earnings before interest, taxes,
       depreciation, and amortization.