Shareholder Files Suit Against Directors and Officers of Adelphia Business Solutions, Inc. -- ABIZQ

Lead Plaintiff Petitions Due July 10, 2002


PHILADELPHIA, May 10, 2002 (PRIMEZONE) -- Law Offices Bernard M. Gross, P.C. announces that a class action lawsuit was filed today, May 10, 2002, in the United States District Court for the Eastern District of Pennsylvania, on behalf of all purchasers of the securities of Adelphia Business Solutions, Inc. (Pink Sheets:ABIZQ) ("Adelphia Solutions" or the "Company"), between January 6, 2000 and March 27, 2002, inclusive (the "Class Period").

The action, numbered 02-CV-2802, is pending in the United States District Court, Eastern District of Pennsylvania, located at 601 Market Street, Philadelphia, PA 19106, against defendants Michael J. Rigas, James P. Rigas, Timothy Rigas and John J. Rigas. The Honorable Herbert Hutton is presiding over the case. A copy of the Complaint is available from the Court or the Law Offices Bernard M. Gross, P.C. Please visit our Website at http://www.bernardmgross.com or contact us by phone at 866-561-3600 (toll free) or by E-mail at susang@bernardmgross.com.

The complaint charges, John J. Rigas, Chairman of the Board of Directors, Michael J. Rigas, Vice Chairman, Secretary and Director, Timothy J. Rigas, Vice Chairman, CFO, Treasurer and Director, and James P. Rigas, Vice Chairman, CEO, President and Director with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that the Rigas Defendants issued materially false and misleading statements regarding the financial condition and results of Adelphia Business Solutions, Inc. ("Adelphia Solutions") during the Class Period. They failed to disclose that because of deceptive sales practices Adelphia Solutions reported artificially inflated levels of line counts (lines that Adelphia Solutions sold). The Rigas Defendants also obligated Adelphia Solutions to pay overhead expenses to Adelphia Communications Corp. (also controlled by the Rigases) without maintaining adequate or accurate accounting records of such expenses. Additionally, throughout the Class Period, the Rigases failed to disclose in excess of $2 billion of off-balance sheet liabilities for Adelphia Communications Corp. Because of Adelphia Solutions' heavy dependence on the Rigases and Adelphia, these off-balance sheet liabilities should have been disclosed to Adelphia Solutions shareholder during the Class Period. On March 1, 2002, Adelphia Solutions announced that it would not make an interest payment of $15.3 million on certain secured notes of the Company and would be in default. On March 27, 2002, Adelphia Communications Corporation announced its financial results and that it had entered into these off-balance sheet financing arrangements which obligated Adelphia Communications for approximately $2.3 billion in debts, together with an entity controlled by the Rigas family, Highland Holdings. On that same day, March 27, Adelphia Solutions announced that it had filed for Chapter 11 Bankruptcy protection.

Plaintiffs seek to recover damages on behalf of Class members and, are represented by the law firm of Law Offices Bernard M. Gross, P.C. having significant experience and expertise in prosecuting class actions.

If you are a member of the Class described above, you may, not later than July 10, 2002, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters, PLEASE CONTACT:


 Law Offices Bernard M. Gross, P.C.
 Deborah R. Gross, Esquire
 Susan Gross, Esquire
 1515 Locust Street, Second Floor
 Philadelphia, PA 19102

 Telephone:  800-849-3120(toll-free)
             866-561-3600 (toll-free)
             or 215-561-3600

 E-mail:  susang@bernardmgross.com or
          debbie@bernardmgross.com.

 Website: http://www.bernardmgross.com

More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca



            

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