1433669--3/10/2009--Adelphia_Recovery

related topics

{interest, director, officer}

{financial, litigation, operation}

{tax, income, asset}

{stock, price, share}

The ART is controlled by the Trustees and the Holders have no authority regarding decisions made on behalf of the ART The ART may not be successful in litigating the Causes of Action or if the ART is successful, there could be a significant delay before any recovery is obtained and distributed Holders will have only limited rights against the Trustees and the Trustees have limited liability to the ART Even if there is a recovery based on the Causes of Action, there can be no assurances that there will be sufficient funds to make any distributions to Holders Potential conflicts of interest exist among the classes of Interests There is no trading market for the Interests, which could limit liquidity, and it may be difficult to establish a price per Interest The outcome of litigation is inherently speculative and limited information regarding their developments and potential outcomes will be available; therefore, it may be difficult for Holders to assess the amount of recovery A Holder s tax liability could exceed distributions Certain tax positions are subject to challenge by the Internal Revenue Service. The ART s ability to recover a judgment or settlement payment may be affected by the financial condition of a defendant.

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1433669--3/10/2009--Adelphia_Recovery_Trust