Nasdaq to Delist Adelphia Communications Corp.

New York, N.Y.—- The Nasdaq Stock Market, Inc. (Nasdaq^®) today announced that it will delist the securities of Adelphia Communications Corporation (Nasdaq:ADLAE) based upon its failure to timely file its periodic reports with the Securities and Exchange Commission as required by Nasdaq rules and based upon public interest concerns.

The delisting will be effective upon the open of business on Monday, June 3, 2002, in order to provide for an orderly transition of index components in the Nasdaq 100 Index.