355787--12/17/2007--PRICE_COMMUNICATIONS

related topics

{tax, income, asset}

{debt, indebtedness, cash}

{control, financial, internal}

{interest, director, officer}

{stock, price, share}

Additional liabilities and expenses may reduce the amount available for distribution to shareholders from the liquidating trust. The Company or PCW may be subject to substantial income tax liability as a result of the asset contribution and the exchange of the Preferred Exchangeable Interest. If we fail to create an adequate contingency reserve for payment of our expenses and liabilities, each shareholder could be held liable for payment to our creditors of his or her pro rata share of amounts owed to creditors in excess of the contingency reserve, up to the amount actually distributed to such shareholder. We continue to incur the expenses of complying with public company reporting requirements. There is no trading market for the interests in the liquidating trust.

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355787--12/17/2007--PRICE_COMMUNICATIONS_CORP