Exhibit 1 Cable Companies Family Ownership and Controla

Family's Share
Ticker Controlling
Cable TV Providers Symbol Owner/Family Ownership
Comcast Corp. b CMCSA Roberts family 2.30%
Time Warner Inc.c TWX Ted Turner 0.80%
Cox Communications Inc.d COX Cox family 100%
Charter Communications Inc.e CHTR Paul Allen 8.40%
Adelphia Communications Corp.f ADLAC Rigas family 25.90%
Cablevision Systems Corp.g CVC Dolan family 23.90%
Mediacom Communications Corp.h MCCC Commisso family 23.40%
Insight Communicationsi ICCI Knafel family 12.30%
Family's Voting Family's Board

Control Control
38.50% 33.00%
0.80% 6.70%
100% 100%
91.50% 100%
62.90% 89%
75.10% 100%
75.20% 100%
53.40% 100%
 Year ended Mar. 31, Year ended Mar. 31, Year ended Mar. 31,
1995 1996 1997
BALANCE SHEET
Property, plant and equipment 518 560 660
Intangible assets 546 569 651
Other assets 203 239 333
Total assets 1,267 1,368 1,644
Total debt 2,022 2,175 2,544
Other liabilities 257 287 311
Total liabilities 2,279 2,462 2,855
Minority interests - - -
Related party equity - 34 43
Redeemable preferred stock - - -
Stockholders' equity (deficiency) -1,012 -1,128 -1,254
Total liabilities and stockholders' equity
1,267 1,368 1,644

INCOME STATEMENT
Revenues 362 404 473
Operating expenses -268 -309 -355
Operating income 93 95 118
Other income 40 42 62
Interest expense -196 -211 -240
Other expenses -44 -46 -71
Net loss -106 -120 -131

CASH FLOW STATEMENT

Cash flows from operating
activities 49 64 43
Cash flows from investing
activities -247 -189 -322
Cash flows from financing
Activities 129 131 330
Net increase (decrease) in cash and cash equivalents
-69 6 51
Cash and cash equivalents at beginning of year
74 5 11
Cash and cash equivalents at end of year
5 11 62
Year ended Mar. 31, Nine months ended Dec. 31, Year ended Dec. 31, Year ended Dec. 31,
1998 1998 1999 2000

919 1,208 3,962 6,125

695 1,029 12,128 14,091
691 1,057 1,199 1,283
2,305 3,294 17,289 21,499
2,910 3,527 9,291 12,603
296 364 3,110 3,684
3,206 3,891 12,401 16,287
28 49 736 616
31 - - -
355 377 409 446
-1,316 -1,022 3,742 4,150

2,305 3,294 17,289 21,499

528 496 1,288 2,909

-408 -416 -1,149 -2,693
120 80 139 216
80 91 192 466
-271 -201 -458 -984
-122 -105 -153 -320
-193 -136 -279 -622

66 138 332 559

-563 -1,016 -3,522 -4,138

713 999 2,978 3,517

215 122 -212 -62

62 277 399 187

277 399 187 125

Exhibit 6 Rigas Family Holdings of Adelphia Stock, 1994–2001

Year Shares of Class A Common stock Percent of Class A Common st

1994 6,786,804 50%

1995 6,821,804 44%
1996 6,839,004 45%
1997 16,321,764 83%
1998 20,462,081 72%
1999 24,462,081 49%
2000 24,964,581 22%
2001 25,602,459 17%
Shares of Class B Common st Percent of Class B C Percent of Total Shares Outst
Percent of Total Votes Outstanding

10,944,476 100% 73% 95%

10,944,476 100% 68% 93%
10,944,476 100% 68% 93%
10,944,476 100% 89% 97%
10,944,476 100% 80% 94%
10,834,476 100% 58% 84%
16,735,998 100% 32% 69%
19,235,998 100% 26% 63%
otes Outstanding
 Exhibit 11a Adelphia’s Hypothetical Liquidation Valuation and Allocation to

Concept Value ($ millions)

Restricted Cash 0
Cash 286
Cable Systems 13,193
Subtotal 13,479

Less:
Break-Up Fee -440

Chapter 7 Fees and Expenses

Trustee and Receiver -129
Counsel for Trustee and other Prof -75
Wind-down Costs
Central Services Shutdown -136
Retention Requirements -42
Severance Requirements -67

Total Wind-down Costs -245

Subtotal -449

Plus:
Non-Debtor Subsidiaries 275

Net Estimated Liquidation Proceeds $12,865

Less: Net Holdbacks -451

Net Estimated Liquidation Proceeds $12,414

dation Valuation and Allocation to Liabilities
 Administrative Expense, Fee, Priority Tax and Other Priority
DIP Lender Claims
Other Secured Claims
FrontierVision Debtor Group
FV-Bank (FrontierVision Bank Claims)
FV-Notes (FrontierVision Notes Claims)
FV-Trade (FrontierVision Trade Claims)
FV-Uns (FrontierVision Other Unsecured Claims)
FV-ESL (FrontierVision Existing Securities Law Claims)
FrontierVision Holdco Debtor Group
FVHC-Notes
(FrontierVision
Holdco Notes Claims)

FVHC-Trade
(FrontierVision
Holdco Trade Claims)

FVHC-Uns
(FrontierVision
Holdco Other
Unsecured Claims)

FVHC-ESL
(FrontierVision Holco
Existing Securities
Law Claims)

FVHC-Conv
(FrontierVision
Convenience Claims)
Parnassos Debtor
Group
P-Bank (Parnassos
Bank Claims)
P-Trade (Parnassos
Trade Claims)
P-Uns (Parnassos
Other Unsecured
Claims)
P-Equity (Equity
Interests in Parnassos
Debtors)
Century-TCI Debtor
Group
TCI-Bank (Century-
TCI Bank Claims)
TCI-Trade (Century-
TCI Trade Claims)

TCI-Uns (Century-
TCI Other Unsecured
Claims)
 TCI-Equity (Equity
Interests in Century-
TCI Debtors)
Century Debtor Group

Century-Bank
(Century Bank
Claims)
Century-
Trade(Century Trade
Claims)
Century-Uns (Century
Other Unsecured
Claims)
CCHC Debtor Group
CCHC-Trade (CCHC
Trade Claims)

CCHC-Uns (CCHC
Other Unsecured
Claims)
CCC Debtor Group
CCC-Trade (CCC
Trade Claims)
CCC-Uns (CCC Other
Unsecured Claims)

Arahova Debtor Group

ARA-Notes (Arahova
Notes Claims)

ARA-Trade (Arahova
Trade Claims)

ARA-Uns (Arahova
Other Unsecured
Claims)
ARA-ESL (Arahova
Holdco Existing
Securities Law
Claims)

Olympus Debtor Group

OLY-Bank (Olympus
Bank Claims)

OLY-Bank (Olympus
Trade Claims)

OLY-Uns (Olympus
Other Unsecured
Claims)
UCA Debtor Group
UCA-Bank (UCA
Bank Claims)
 UCA-Trade (UCA
Trade Claims)
UCA-Uns (UCA
Other Unsecured
Claims)

Ft. Myers Debtor Group

Ft. Myers-FPL Note
Ft. Myers-Trade (F
Ft. Myers-Uns (Ft.
Olympus Parent Debtor Group
Olympus Parent-
Notes (OLYParent
Notes Claims)
Olympus Parent-
Trade (OLYParent
Trade Claims)
Olympus Parent-Uns
(OLYParent Other
Unsecured Claims)

Olympus Parent-ESL
(OLYParent Existing
Seceurities Law
Claims)

Rigas/Century Co-
Borrowing Debtor
Group
RCentCB-Cont
(Rigas/Century
Contrib/Subrog
Claims)

RCentCB-
Trade(Rigas/Century
Contrib/Subrog
Claims)

RCentCB-
Uns(Rigas/Century
Other Unsecured
Claims)

Rigas/Olympus Co-
Borrowing Debtor
Group
ROlyCB-Cont
(Rigas/Olympus
Contrib/Subrog
Claims)

ROlyCB-
Trade(Rigas/Olympus
Contrib/Subrog
Claims)

ROlyCB-
Uns(Rigas/Olympus
Other Unsecured
Claims)
Rigas/UCA Co-
Borrowing Debtor
Group
RUCACB-Cont
(Rigas/UCA
Contrib/Subrog
Claims)

RUCACB-Cont
(Rigas/UCA
TradeClaims)
RUCACB-Cont
(Rigas/UCA Other
Unsecured Claims)
Funding Company
Debtor Group
Fundco (Funding
Company Claims)
GSETL (Government
Settlement Agreement
Claims)

ACC Ops Debtor Group

OPS-Trade (ACC Ops

TradeClaims)
OPS-Uns (ACC Ops
Other Unsecured
Claims)
Holding Company
Debtor Group
ACC-Trade (ACC
Trade Claims)
ACC-Uns (ACC
Other Unsecured
Claims)
ACC-SnrNotes (ACC
Senior Notes Claims)

ACC-SubNotes (ACC
Subordinated Notes
Claims)
ACC-ESL (ACC
Existing Securities
Law Claims)
ACC-BPfd
(ACCSeries B
Preferred Stock
Interests)

ACC-BESL (ACC
Series B Pref. Stock
Exist. Securities Law
Claims)

ACC-DPfd (ACC
Series D Preferred
Stock Interests)
 ACC-DESL (ACC
Series D Pref. Stock
Exist. Securities Law
Claims)

ACC-EFPdf (ACC
Series E and F
Preferred Stock
Interests)

ACC-EFESL (ACC
Series E and F
Preferred Stock
Existing Securities

ACC-CESL (ACC
Common Stock
Existing Securities
Law Claims)

ACC-CS (ACC
Common Stock
Interests)
ACC-Conv (ACC
Convenience Claims)
Other Claims
InterCo
(Intercompany
Claims)
ACC Other Equity
Interests
Rigas Claims and/or
Equity Interests
 Recovery % (Including Interest
Estimated Total Claims (Excluding Interest High Low
731 99.20% 99.20%
1,066 100.00% 100.00%
145 100.00% 100.00%

617 100.00% 100.00%

204 132.80% 82.00%
105 106.30% 82.00%
0 ### ###
TBD
FrontierVision Holdco Debtor Group
339 0.00% 0.00%

0 0.00% 0.00%

0 0.00% 0.00%

TBD

0 0.00% 0.00%

623 100.00% 100.00%

32 108.00% 108.00%

0 100.00% 100.00%

N/A

1,000 100.00% 100.00%

78 108.00% 98.00%

0 100.00% 98.00%
 N/A

2,480 100.00% 92.50%

90 107.90% 49.70%

1 100.00% 49.70%

0 100.00% 0.00%

18 100.00% 0.00%

7 100.70% 31.00%

69 100.00% 31.00%

1,744 78.30% 8.60%

0 78.30% 8.60%

0 78.30% 8.60%

TBD

1,265 100.00% 100.00%

115 107.90% 63.10%

2 100.00% 63.10%

831 100.00% 100.00%

 54 107.50% 70.20%

3 100.00% 70.20%

127 122.90% 0.00%

0 20.80% 0.00%
0 20.80% 0.00%
mpus Parent Debtor Group
213 140.00% 41.70%

0 108.00% 41.70%

0 100.00% 41.70%

TBD

TBD

TBD

TBD

TBD

TBD

TBD
TBD

TBD

TBD

25 108.00% 17.70%

600 100.00% 100.00%

11 103.40% 3.30%

15 100.00% 3.30%

341 31.90% 4.30%

50 31.90% 4.30%

5,110 41.00% 5.60%

1,459 0.00% 0.00%

TBD

159 0.00% 0.00%

TBD

580 0.00% 0.00%

 TBD

936 0.00% 0.00%

TBD

TBD

TBD

0 95.00% 95.00%

N/A

N/A

N/A
 Time Warner Cable Projected Combined Balance Sheet (in $ millions, except per
2005 2006
ASSETS
Cash and cash equivalents 50 50
Other current assets 583 703
Total current assets 633 753
Investments 2098 2269
Property, plant and equipment 11975 12288
Goodwill, other intangible assets and other 39827 39611
Total assets 54533 54921
LIABILITIES AND SHAREHOLDERS' EQUITY
Current portion of long-term debt
Total short-term debt
Total current liabilities 2053 2036
Inter-company subordinated loan from Time Warner 9338 8949
Bank credit borrowings and commercial paper 2614 2614
TWE notes and debentures 3353 3339
Total long-term debt 15305 14902
Deferred income tax obligations, net & other liabilities 13494 13465
Preferred equity of a subsidiary 500 500
Minority interests 2712 2791
Total liabilities 34064 33694
Total shareholders' equity 20468 21227
Total liabilities and shareholders' equity 54532 54921
(in $ millions, except per share amounts, for years ended Dec. 31)
2007

50
773
823
2455
12439
39445
55162

600
600
2584
7795
2614
2725
13134
13630
500
2936
32784
22378
55162
 Time Warner Cable Projected Combined Income Statements (in $ millions, excep
2006
Revenues 13,669
Cost of revenues and selling, general and administrative expenses -8,724
Expensed transaction-related costs -100
Depreciation -2,461
Amortization (216) (166)
Operating income 2,167
Interest expense, net -868
Income from equity investments, net 70
Minority interest expense, net (78) (145)
Income before taxes, discounted operations and cum. effect of accounting change 1,291
Income tax provision (@ 41.2%) -532
Net Income before discounted operations and cum. effect of accounting change 759 1,151
Basic/Diluted earnings per share 0.78
ements (in $ millions, except per share amounts, for years ended Dec. 31)
2007
15,307
-9,692

-2,621

2,828
-821
95

1,957
-806

1.18
 Time Warner Cable Projected Combined Cash Flow Statements (in $ millions, ex
2006 2007
Operating Activities
Net income (loss) from continuing operations 759 1,151
Adjustments for noncash and nonoperating items:
Depreciation and amortization 2,678 2,787
Working capital and other balance sheet changes -216 28
Cash provided by operations 3,220 3,967
Investing Activities
Capital expenditures -2,775 -2,772
Other investing activities -57 -40
Cash used by investing activities -2,832 -2,812
Financing Activities
Repayments, net -389 -1,154
Other Financing activities - -
Cash used by financing activities -389 -1,154
Increase in cash and equivalents 0-
Cash and equivalents at beginning of period 50 50
Cash and equivalents at end of period 50 50
Statements (in $ millions, except per share amounts, for years ended Dec. 31)
CASH FLOWS FROM OPERATING ACTIVITIES

Net loss
Adjustments to reconcile net loss to net cash provided by operating activities:
Compensation expense (benefit) on equity security transactions with
the Rigas Family and Rigas Family Entities
Depreciation and amortization
Impairment of long-lived assets
Provision for uncollectible amounts due
(Gains) losses on dispositions of long-lived assets and cable systems exchanges

Amortization of debt financing costs

Impairment of cost and available-for-sale investments
Noncash charges to Rigas Family Entities, net
Provision for SEC litigation and government settlement
Other noncash gains
Reorganization expenses due to bankruptcy
Deferred tax expense (benefit)
Share of losses (earnings) of equity affiliates, net
Minority's interest in losses of subsidiaries, net
Noncash dividends on TelCove Preferred Stock
Depreciation, amortization and other noncash charges related to discontinued operations

Cumulative effects of accounting changes, net

Change in operating assets and liabilities, net of effects of acquisitions and divestitures:

Reorganization expenses paid during the period

Net cash provided by (used in) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Expenditures for property and equipment
Acquisitions, net of cash acquired
Acquisition of remaining interests in Tele-Media JV Entities
Acquisition of other intangibles
Investment in and advances to affiliates
Cash advances from (to) the Rigas Family and Rigas Entities, net
Proceeds from sale of investments
Proceeds from sale of assets
Proceeds from sale of Century/ML Cable
Change in restricted cash
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt, net of issuance costs
Repayments of debt
Proceeds from DIP Facility
Issuance of Class A Common Stock, net of issuance costs
Issuance of convertible preferred stock
Preferred stock dividends paid
Payment of deferred financing costs
Net cash provided by financing activities
Increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
 2001 2002 2003 2004

-6,116,501 -7,188,828 -832,612 -1,910,873

101,000 -101,000 - -
1,429,546 1,153,107 1,008,936 1,121,522
4,657,643 2,031,757 17,641 83,349
222,931 2,311,648 5,497 -

-541,994 6,747 - -4,641

146,336 60,747 24,386 14,113
56,428 6,531 8,544 3,801
-45,793 -34,084 -30,986 -
- 175,000 - 425,000
-32,454 -32,045 -1,931 3,757
- 48,684 98,812 76,553
-182,600 79,994 125,254 5,996
-24,781 119,764 2,826 7,926
-348,922 -118,704 -25,430 -16,383
41,038 - - -

- - 108,426 1,575
4,074 1,406,306 - 851,629

242,893 762,314 95,409 -74,738

- -36,643 -96,915 -76,894
-391,156 651,295 507,857 511,692

-2,403,989 -1,235,884 -723,521 -820,913

-1,132,245 -2,101 - -
- - - -
(20,523) (5,797) -7,830 -5,047
(65,963) (84,725) -8,034 -5,667
(386,028) (114,313) 61,433 -
-35,659 - -
-- 3,712 14,161
- - -
33,674 (236,741) 148,345 79,802
(3,975,074) (1,643,902) -525,895 -737,664

13,799,124 2,323,267 77,000 804,851

(11,054,502) (2,949,991) -28,678 -478,363
 -200,000 - -
1,404,248 1,007,410 - -
334,758 557,848 - -
(51,125) (43,771) - -
- - -1,253 -14,268
4,432,503 1,094,763 47,069 312,220
66,273 102,156 29,031 86,248
55,201 121,474 223,630 252,661
121,474 223,630 252,661 338,909
Revenue: Third party
Revenue: Rigas Entities
Total revenue
Direct operating and programming costs - Third party
Direct operating and programming costs - Rigas Entities
Selling, general and administrative costs - Third party
Selling, general and administrative costs - Rigas Entities
Investigation, re-audit and sale transaction costs
Compensation expense -benefit on equity security transactions with the Rigas Family and Rigas Entities

Depreciation
Amortization
Impairment of long-lived assets
Provision for uncollectible amounts due from TelCove and cost of TelCove settlement

Provision for uncollectible amounts due from the Rigas Family and Rigas Entities

(Gains) losses on dispositions of long-lived assets and cable system exchanges, net

Total costs and expenses

Operating loss
Interest expense, net of amounts capitalized
Interest expense on debt securities held by Rigas Entities
Impairment of cost and available-for-sale investments
Other income (expense), net
Total other expense, net
Reorganization expenses due to bankruptcy
Income tax (expense) benefit
Share of earnings (losses) of equity affiliates, net
Minority's interest in losses of subsidiaries, net
TelCove Preferred Stock dividends Loss from discontinued operations

Cumulative effects of accounting changes, net

Net loss
Dividend requirements applicable to preferred stock:
Third party
Beneficial conversion feature
Net loss applicable to common stockholders
 2001 2002 2003 2004

3,323,717 3,267,306 3,569,017 4,143,388

1,346 1,151 - -
3,325,063 3,268,457 3,569,017 4,143,388
2,505,654 2,309,260 2,386,347 2,653,417
5,153 9,555 - -
261,352 254,591 268,288 329,427
-8,490 -15,173 -21,242 -
- 56,519 52,039 125,318
101,000 -101,000 - -

906,800 984,213 846,097 961,840

522,746 168,894 162,839 159,682
4,657,643 2,031,757 17,641 83,349

- 549,407 - -

222,931 1,762,241 5,497 -

-541,994 6,747 - -4,641

8,632,795 8,017,011 3,717,506 4,308,392
-5,307,732 -4,748,554 -148,489 -165,004
-1,268,466 -748,136 -381,622 -402,627
-13,897 -10,343 - -
-56,428 -6,531 - -
30,123 -142,594 -963 -425,789
-1,308,668 -907,604 -382,585 -828,416
- -48,684 -98,812 -76,553
171,308 -76,620 -117,378 2,843
24,781 -119,764 -2,826 -7,926
348,922 118,704 25,430 16,383
-41,038 - - (107,952) -571
- -
-4,074 -1,406,306 - -851,629
-6,116,501 -7,188,828 -832,612 -1,910,873

-54,359 -55,551 - -
- -3,512 -7,317 -8,007
-6,170,860 -7,247,891 -839,929 -1,918,880
 Particulars

ASSETS
Cash and cash equivalents
Restricted cash
Accounts receivable, net
Total Fixed Assets
Other current assets
Total current assets
Restricted cash
Investments in equity affiliates and related receivables
Property and equipment, net
Franchise rights, net
Goodwill, net
Customer relationships and other
Other non-current assets, net
Total assets
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable
Subscriber advance payments and deposits
Accrued liabilities
Deferred revenue
Current portion of parent and subsidiary debt
Amounts due to the Rigas family and other Rigas entities from co- borrowing entities
Total Non-Current Liability
Total current liabilities
Other liabilities
Deferred revenue
Deferred income taxes
Total non-current liabilities
Liabilities subject to compromise
Total liabilities
Minority interest in equity of subsidiaries
TelCove Preferred Stock
Series B Preferred Stock
Total commitments and contingencies
Series preferred stock
Class A Common Stock outstanding
Convertible Class B Common Stock outstanding
Additional paid-in capital
Accumulated other comprehensive loss, net
Accumulated deficit
Treasury stock, at cost
Amounts due from the Rigas Family and Rigas Family Entities, net
Total stockholders' deficit
Total liabilities and stockholders' deficit
 2001 2002 2003 2004

121,474 223,630 252,661 338,909

- 9,244 14,327 6,300
200,126 136,567 139,007 116,613
321,600 369,441 405,995 461,822
121,304 118,059 126,042 82,710
442,904 487,500 532,037 544,532
21,211 228,238 74,810 3,035
340,735 253,050 256,577 252,237
4,970,899 4,660,339 4,534,386 4,469,943
6,891,942 5,188,071 5,193,739 5,464,420
3,142,692 1,507,684 1,511,875 1,628,519
1,310,634 1,109,485 962,182 579,916
387,962 168,039 131,135 155,586
17,508,979 13,602,406 13,196,741 13,098,188

774,910 137,451 198,208 173,654

28,515 26,553 28,913 33,159
751,675 245,866 412,071 535,924
25,770 28,983 29,281 33,296
17,417,044 298,797 347,119 667,745
- - - 460,256
18997914 737650 1015592 1904034
18,997,914 737,650 1,015,592 1,904,034
109,349 116,394 129,141 35,012
223,825 131,836 110,163 85,397
525,977 596,591 722,644 729,481
859,151 844,821 961,948 849,890
- 18,020,124 18,184,226 18,480,948
19,857,065 19,602,595 20,161,766 21,234,872
253,783 135,079 109,649 79,142
338,105 - - -
148,708 148,794 - -
740,596 283,873 109,649 79,142
167 397 397 397
1,877 2,297 2,297 2,297
251 251 251 251
9,267,860 12,071,165 12,071,165 12,071,165
-8,695 -18,754 -9,680 -11,565
-10,289,378 -17,478,206 -18,310,818 -20,221,691
-27,937 -27,937 -27,937 -27,937
-2,032,827 -833,275 -800,349 -28,743
-1,607,490 -5,716,316 -6,855,376 -8,057,542
17,508,979 13,602,406 13,196,741 13,098,188
Revenue: Third party
Revenue: Rigas Entities
Total revenue
Direct operating and programming costs - Third party
Direct operating and programming costs - Rigas Entities
Selling, general and administrative costs - Third party
Selling, general and administrative costs - Rigas Entities
Investigation, re-audit and sale transaction costs
Compensation expense -benefit on equity security transactions with the Rigas Family and Rigas Entities

Depreciation
Amortization
Impairment of long-lived assets
Provision for uncollectible amounts due from TelCove and cost of TelCove settlement
Provision for uncollectible amounts due from the Rigas Family and Rigas Entities
(Gains) losses on dispositions of long-lived assets and cable system exchanges, net
Total costs and expenses

Operating loss
Interest expense, net of amounts capitalized
Interest expense on debt securities held by Rigas Entities
Impairment of cost and available-for-sale investments
Other income (expense), net
Total other expense, net
Reorganization expenses due to bankruptcy
Income tax (expense) benefit
Share of earnings (losses) of equity affiliates, net
Minority's interest in losses of subsidiaries, net
TelCove Preferred Stock dividends Loss from discontinued operations

Cumulative effects of accounting changes, net

Net loss
Dividend requirements applicable to preferred stock:
Third party
Beneficial conversion feature
Net loss applicable to common stockholders
 Assumptions
2001 2002 2003 2004 % of Revenue
2001 2002
3,323,717 3,267,306 3,569,017 4,143,388 0.99959519564 0.999647846063
1,346 1,151 0 0 0.00040480436 0.000352153937
3,325,063 3,268,457 3,569,017 4,143,388 0.13862351293
2,505,654 2,309,260 2,386,347 2,653,417 0.75356587229 0.706529105324
5,153 9,555 0 0 0.00154974507 0.002923397799
261,352 254,591 268,288 329,427 0.07860061599 0.077893330094
-8,490 -15,173 -21,242 0 -0.00255333508 -0.00464225168
0 56,519 52,039 125,318 0 0.017292257478
101,000 -101,000 0 0 0.03037536432 -0.03090143147

906,800 984,213 846,097 961,840 0.27271663725 0.301124659128

522,746 168,894 162,839 159,682 0.15721386332 0.051673924424
4,657,643 2,031,757 17,641 83,349 1.40076834634 0.621625739607
0 549,407 0 0 0 0.168093690693
222,931 1,762,241 5,497 0 0.06704564695 0.539166034615
-541,994 6,747 0 -4,641 -0.16300262581 0.002064276813
8,632,795 8,017,011 3,717,506 4,308,392 2.59628013063 2.452842732825

-5,307,732 -4,748,554 -148,489 -165,004 -1.59628013063 -1.45284273282

-1,268,466 -748,136 -381,622 -402,627 -0.38148630567 -0.22889577559
-13,897 -10,343 0 0 -0.00417946968 -0.00316449016
-56,428 -6,531 0 0 -0.01697050552 -0.00199819058
30,123 -142,594 -963 -425,789 0.00905937722 -0.04362731405
-1,308,668 -907,604 -382,585 -828,416 -0.39357690366 -0.27768577038
0 -48,684 -98,812 -76,553 0 -0.01489510188
171,308 -76,620 -117,378 2,843 0.05152022683 -0.02344225425
24,781 -119,764 -2,826 -7,926 0.00745279112 -0.03664236672
348,922 118,704 25,430 16,383 0.10493695909 0.036318054666
-41,038 0 -107,952 -571 -0.01234202179 0

-4,074 -1,406,306 0 -851,629 -0.00122523994 -0.43026602461

-6,116,501 -7,188,828 -832,612 -1,910,873 -1.83951431898 -2.199456196

-54,359 -55,551 0 0 -27477.5

0 -3,512 -7,317 -8,007 -4709
-6,170,860 -7,247,891 -839,929 -1,918,880 -4044390
 2003 2004 Average 2005 2006 2007
1 1 0.999810760426 4716866.21329548 5370734.77781242 6115244.89973847
0 0 0.000189239574 892.786704521628 1016.54793380134 1157.46537944857
4717759 5371751.32574623 6116402.36511791
0.668628644806 0.640397906254 0.692280382168 3266012.00349458 3718758.06069684 4234265.36681457
0 0 0.001118285718 5275.80251010216 6007.15278758761 6839.88540972184
0.075171398735 0.079506674248 0.077793004767 367008.648374348 417884.676488399 475813.318343644
-0.00595177888 0 -0.00328684141 -15506.525642496 -17656.094700428 -20103.64457246
0.014580765516 0.030245296844 0.01552957996 73264.8156203973 83421.0417360068 94985.1595938932
0 0 -0.00013151679 -620.46451278933 -706.47548320179 -804.4095964835

0.237067237281 0.232138530111 0.260761765942 1230211.16813022 1400747.36190452 1594923.88194186

0.045625728317 0.038538992728 0.073263127196 345637.777697567 393551.300643989 448106.764458189
0.004942817588 0.020116146497 0.511863262509 2414847.51347144 2749602.15898379 3130761.66942733
0 0 0.042023422673 198256.380527035 225739.376456861 257032.161828375
0.001540200005 0 0.151937970394 716806.727266164 816172.99389304 929313.761466663
0 -0.00112009785 -0.04051461171 -191138.17404288 -217634.4191841 -247803.6669063
1.041605013369 1.03982344883 1.782637831414 8410055.67289368 9575887.1342233 10903330.248209

-0.04160501337 -0.03982344883 -0.78263783141 -3692296.6728937 -4204135.8084771 -4786927.8830911

-0.10692636096 -0.09717337599 -0.20362045455 -960632.23204983 -1093798.4466922 -1245424.6298122
0 0 -0.00183598996 -8661.7581549575 -46528810852.186 -2.845889287E+17
0 0 -0.00474217403 -22372.43419162 -25473.779612101 -29005.044429584
-0.00026982219 -0.10276348727 -0.03440031157 -162292.37953142 -184789.91930415 -210406.1470725
-0.10719618315 -0.19993686326 -0.24459893011 -1153958.8039278 -1313924.627107 -1496065.4746444
-0.02768605473 -0.01847594288 -0.01526427487 -72013.170153114 -81995.888777103 -93362.446925361
-0.03288804733 0.000686153457 -0.00103098032 -4863.9166876275 -5538.1699054747 -6305.8904729855
-0.00079181466 -0.0019129273 -0.00797357939 -37617.425928624 -42832.085658307 -48769.619838462
0.007125211228 0.003954010583 0.038083558891 179669.05271197 204575.407964055 232934.369675515
-0.03024698397 -0.00013780993 -0.01068170392 -50393.704817184 -57379.457208597 -65333.59913698

0 -0.20553928331 -0.15925763697 -751339.1501155 -855492.4225078 -974083.78740248

-0.23328888599 -0.46118611146 -1.18336137811 -5582813.7918116 -6356723.0516773 -7237914.3318362

-27477.5 -28851.375 0
-4709 -4944.45 -5438.895
-4044390 -4448829 -5338594.8
 2008
6962961.63017927
1317.91729644482
6964279.54747572
4821234.10664841
7788.05435326933
541772.232032238
-22890.482405829
108152.336093199
-915.9196805842

1816017.83331567
510224.898315943
3564758.85019598
292662.863037512
1058138.49969716
-282155.08173027
12414788.1898727

-5450508.642397
-1418069.7670887
-1.981956856E+24
-33025.82558116
-239573.38632216
-1703455.3263158
-106304.67729408
-7180.0351625147
-55530.235864825
265224.550282519
-74390.372161834

-1109114.7039023
-8241259.4428157

0
-6526.674
-6940173.24
Revenues

ASSETS
Cash and cash equivalents
Restricted cash
Accounts receivable, net
Total Fixed Assets
Other current assets
Total current assets
Restricted cash
Investments in equity affiliates and related receivables
Property and equipment, net
Franchise rights, net
Goodwill, net
Customer relationships and other
Other non-current assets, net
Total assets
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable
Subscriber advance payments and deposits
Accrued liabilities
Deferred revenue
Current portion of parent and subsidiary debt
Amounts due to the Rigas family and other Rigas entities from co- borrowing entities
Total Non-Current Liability
Total current liabilities
Other liabilities
Deferred revenue
Deferred income taxes
Total non-current liabilities
Liabilities subject to compromise
Total liabilities
Minority interest in equity of subsidiaries
TelCove Preferred Stock
Series B Preferred Stock
Total commitments and contingencies
Series preferred stock
Class A Common Stock outstanding
Convertible Class B Common Stock outstanding
Additional paid-in capital
Accumulated other comprehensive loss, net
Accumulated deficit
Treasury stock, at cost
Amounts due from the Rigas Family and Rigas Family Entities, net
Total stockholders' deficit
Total liabilities and stockholders' deficit
 3325063 3268457 3569017 4143388

2001 2002 2003 2004 Assumptions

2001
121,474 223,630 252,661 338,909 0.03653284163
0 9,244 14,327 6,300 0
200,126 136,567 139,007 116,613 0.06018713029
321,600 369,441 405,995 461,822 0.09671997192
121,304 118,059 126,042 82,710 0.03648171478
442,904 487,500 532,037 544,532 0.1332016867
21,211 228,238 74,810 3,035 0.00637912725
340,735 253,050 256,577 252,237 0.1024747501
4,970,899 4,660,339 4,534,386 4,469,943 1.49497889213
6,891,942 5,188,071 5,193,739 5,464,420 2.07272523859
3,142,692 1,507,684 1,511,875 1,628,519 0.94515261816
1,310,634 1,109,485 962,182 579,916 0.39416817065
387,962 168,039 131,135 155,586 0.11667809001
17,508,979 13,602,406 13,196,741 13,098,188 5.2657585736

774,910 137,451 198,208 173,654 0.23305122339

28,515 26,553 28,913 33,159 0.00857577736
751,675 245,866 412,071 535,924 0.22606338587
25,770 28,983 29,281 33,296 0.00775022909
17,417,044 298,797 347,119 667,745 5.23810947341
0 0 0 460,256 0
18997914 737650 1015592 1904034
18,997,914 737,650 1,015,592 1,904,034
109,349 116,394 129,141 35,012 0.03288629418
223,825 131,836 110,163 85,397 0.06731451404
525,977 596,591 722,644 729,481 0.15818557423
859,151 844,821 961,948 849,890 0.25838638245
0 18,020,124 18,184,226 18,480,948 0
19,857,065 19,602,595 20,161,766 21,234,872
253,783 135,079 109,649 79,142 0.07632426814
338,105 0 0 0 0.10168378765
148,708 148,794 0 0 0.04472336314
740,596 283,873 109,649 79,142 0.22273141892
167 397 397 397 339.5
1,877 2,297 2,297 2,297 2192
251 251 251 251 251
9,267,860 12,071,165 12,071,165 12,071,165 11370338.75
-8,695 -18,754 -9,680 -11,565 -12173.5
-10,289,378 -17,478,206 -18,310,818 -20,221,691 -16575023.25
-27,937 -27,937 -27,937 -27,937 -27937
-2,032,827 -833,275 -800,349 -28,743 -923798.5
-3,088,682 -6,284,062 -7,074,674 -8,215,826 -6165811
17,508,979 13,602,406 13,196,741 13,098,188
% of Revenue
2002 2003 2004 Average 2005 2006 2007 2008
0.068420664552 0.07079288219 0.08179513963 0.064385382
0.002828245866 0.0040142706 0.00152049482 0.00209075282
0.04178332467 0.03894825942 0.02814435916 0.04226576838
0.113032235088 0.1137554122 0.11145999361 0.10874190321
0.036120713841 0.03531560651 0.01996192488 0.03196999
0.14915294893 0.14907101871 0.13142191849 0.14071189321
0.069830504119 0.02096095367 0.00073249235 0.02447576935
0.077421853798 0.07189010307 0.06087699245 0.07816592486
1.425852933051 1.27048596294 1.07881352169 1.31753282745
1.587315054168 1.4552295492 1.31882893902 1.60852469525
0.461283106983 0.42361103912 0.39304042972 0.55577179849
0.339452224704 0.26959299998 0.13996178972 0.28579379626
0.051412333098 0.03674261008 0.03755042974 0.06059586573
4.16172095885 3.69758423678 3.16122651318 4.0715725706

0.042053788684 0.05553573995 0.04191111236 0.0931379661

0.008124016929 0.00810111019 0.00800287108 0.00820094389
0.075223874752 0.11545784175 0.12934439159 0.13652237349
0.008867487013 0.00820421982 0.00803593581 0.00821446793
0.091418366526 0.09725899316 0.16115917698 1.39698650252
0 0 0.11108204204 0.02777051051

0.035611299154 0.03618391283 0.00845008964 0.02828289895

0.040335852667 0.03086648228 0.02061042799 0.03978181924
0.18252986042 0.2024770406 0.17605906085 0.17981288402
0.258477012242 0.26952743571 0.20511957847 0.24787760222
5.513342840368 5.09502364377 4.46034694313 3.76717835682

0.041328063976 0.03072246504 0.01910079384 0.04186889775

0 0 0 0.02542094691
0.045524233606 0 0 0.02256189919
0.086852297583 0.03072246504 0.01910079384 0.08985174385
 Liquidity Ratios
Current ratio
Cash ratio
Profitability Ratios
Gross Profit Margin
Operating Profit Margin
Leverage Ratios
Long term debt ratio
Interest Coverage Ratio
Efficiency Ratios
Total Asset Turnover
Fixed asset turnover

Current ratio
Cash ratio

Gross Profit Margin

Operating Profit Margin

Long term debt ratio

Interest Coverage Ratio

Total Asset Turnover

Fixed asset turnover

Liquidity Ratio
0.66088253236629
8
0.52386883709206
1

0.30316545787297 0.28598859053987
5 0.24878199119331
5
4
0.1779952
4

0.02331329639664
0.00639407042267
7 2001 2002 2003 2004
9
Current ratio Cash ratio
 1

0.30316545787297 0.28598859053987
5 0.24878199119331
5
4
0.1779952
4

0.02331329639664
0.00639407042267
7 2001 2002 2003 2004
9
Current ratio Cash ratio

Leverage Ratio

6.26062685980759

4.13902459755935

1.0850383680282

2001 0.05422937677349
2002 0.07695778829030
2003 0.145366214
2
1 6 5

Long term debt ratio Interest Coverage Ratio

 Formulas 2001 2002 2003 2004
Current Asset/Current Liabilities 0.02 0.66 0.52 0.29
Cash& Equivalent/CL 0.01 0.30 0.25 0.18

Gross Profit/Revenue 96.96% 103.09%

EBIT/ Revenue -159.63% -145.28% -4.16% -3.98%

Long term debt/TA 1.085 0.054 0.077 0.145

EBIT/Int. exp 4.14 6.26

Revenue/TA 0.19 0.24 0.27 0.32

Revenue/Fixed Asset 10.34 8.85 8.79 8.97

2001 2002 2003 2004

0.023313296396647 0.66088253 0.52386883709206 0.2859886
0.006394070422679 0.30316546 0.24878199119331 0.1779952
2001 2002 2003 2004
0.969624635683595 1.03090143
-1.59628013063211 -1.4528427 -0.04160501336923 -0.0398234
2001 2002 2003 2004
1.0850383680282 0.05422938 0.07695778829031 0.1453662
4.13902459755935 6.26062686
2001 2002 2003 2004
0.189906161861294 0.24028521 0.27044684744514 0.3163329
10.3391262437811 8.84703376 8.79079052697693 8.971829

Liquidity Ratio Profitability Ratio

53236629
0.96962463568359 1.03090143147057
0.52386883709206 5 -
1 0.04160501336922
7
2001 2002 2003
0.30316545787297 0.28598859053987
5 0.24878199119331
5
4
0.17799524588321 -
4 - 1.45284273282469
1.59628013063211

2002 2003 2004

Current ratio Cash ratio Gross Profit Margin Operating Profit Margin
 1 0.04160501336922
7
2001 2002 2003
0.30316545787297 0.28598859053987
5 0.24878199119331
5
4
0.17799524588321 -
4 - 1.45284273282469
1.59628013063211

2002 2003 2004

Current ratio Cash ratio Gross Profit Margin Operating Profit Margin

Leverage Ratio Efficiency Ratio

6.26062685980759
10.3391262437811
8.84703376181853 8.79079052697693 8.971

5422937677349
2002 0.07695778829030
2003 0.14536621401372
2004 0.18990616186129
2001 0.24028521130747
2002 0.27044684744513
2003 0.3163329156
20
6 5 4 8 9

ong term debt ratio Interest Coverage Ratio Total Asset Turnover Fixed asset turnover
bility Ratio

- -
0.04160501336922 0.03982344882979
7 8
2003 2004

2469

n Operating Profit Margin

 0.04160501336922 0.03982344882979
7 8
2003 2004

2469

n Operating Profit Margin

cy Ratio

3 8.79079052697693 8.97182897306755

7044684744513
2003 0.31633291566741
2004
9

Fixed asset turnover

 Particulars
Revenue
EBT
EBIT
Net Profit
Total Assets
Total Stockholder's Equity

Tax Burden

Interest Burden

EBIT Margin

Net Profit Margin

Total Asset Turnover
ROA
Financial Leverage
ROE
 2001 2002 2003 2004
$3,325,063 $3,268,457 $3,569,017 $4,143,388
($6,287,809.00) ($7,112,208.00) ($715,234.00) ($1,913,716.00)
($5,307,732.00) ($4,748,554.00) ($148,489.00) ($165,004.00)
($6,116,501.00) ($7,188,828.00) ($832,612.00) ($1,910,873.00)
$17,508,979.00 $13,602,406.00 $13,196,741.00 $13,098,188.00
($3,088,682.00) ($6,284,062.00) ($7,074,674.00) ($8,215,826.00)

0.9728 1.0108 1.1641 0.9985

1.1847 1.4978 4.8167 11.5980

-1.5963 -1.4528 -0.0416 -0.0398

-1.8395 -2.1995 -0.2333 -0.4612

0.189906161861294 0.24028521130747 0.270446847445138 0.316332915667419
-0.349335104005779 -0.52849679681668 -0.063092243759274 -0.145888347304223
-5.6688 -2.1646 -1.8653 -1.5943
1.98029483125812 1.14397789200679 0.117689097759133 0.232584404781698
 Business Risk
Revenue Variability
Particulars 2001 2002
Revenue 3,325,063 3,268,457
Mean Revenue 3,576,481
Standerd deviation of Revenue 399804
Revenue Variability (CV) 11.18%
Variability in EBIT
Particulars 2001 2002
Income before income taxes and interest -5,307,732 -4,748,554
Mean EBIT -2592444.75
Standerd deviation of EBIT 2821759.51
Variability in EBIT (CV) -108.85%
Degree Of Operating Leverage
Year 2001 2002
EBIT -5,307,732 -4,748,554
Change of EBIT -0.1053515889649
Revenue 3,325,063 3,268,457
Change of Revenue -0.02
Operating leverage 6.19
Average

Financial Risk
Degree Of Financial Leverage
Year 2001 2002
EBITDA -3,878,186 -3,595,447
EBT -6,287,809 -7,112,208
Degree of Financial Leverage 0.62 0.51
Average
Interest coverage ratio
Year 2001 2002
EBIT -5,307,732 -4,748,554
Interest -1,268,466 -748,136
Interest coverage ratio 4.184370728108 6.34718019183678

Interest Coverage Ratio Average 3

Year 2001 2002
DFL 0.62 0.51
y
2003 2004
3,569,017 4,143,388
576,481
399804
11.18%
T
2003 2004
-148,489 -165,004
92444.75
21759.51
108.85%
verage
2003 2004
-148,489 -165,004
-0.9687296385384 0.111220359757288
3,569,017 4,143,388 Degree of Operating leverage -1.22
0.09 0.16 Degree of Financial leverage -0.15
-10.53 0.69 Degree of combined leverage 0.1768232536
-1.21833505115296

verage
2003 2004
860,447 956,518
-715,234 -1,913,716
(1.20) (0.50)
(0.15)
tio
2003 2004
-148,489 -165,004
-381,622 -402,627
0.38909968502864 0.409818516890323
2003 2004
-1.20 -0.50
 Current Assets
Current Liabilities
Working Capital
Total Assets

X1 Working Capital/Total Assets

Weight
Total

Retained Earnings
X2 Retained Earnings/Total Assets
Weight
Total

EBIT
X3 EBIT/Total Assets
Weight
Total

Equity
Total Debt
X4 Equity/Total Debt
Weight
Total

Sales
X5 Sales/Total Assets
Weight
Total
Total Score
Average

Probability of Z score

Z-Score = 1.2A + 1.4B + 3.3C + 0.6D + 1.0E

A = working capital / total assets

B = retained earnings / total assets

C = earnings before interest and tax / total assets

D = market value of equity / total liabilities

E = sales / total assets

 2001 2002 2003 2004
442,904 487,500 532,037 544,532
18,997,914 737,650 1,015,592 1,904,034
-18,555,010 -250,150 -483,555 -1,359,502
17,508,979 13,602,406 13,196,741 13,098,188

-1.05974254695 -0.01839012892 -0.03664200123 -0.10379313536

1.2 1.2 1.2 1.2
-1.27169105634 -0.02206815471 -0.04397040148 -0.12455176243

-6,116,501 -7,188,828 -832,612 -1,910,873

-0.34933510401 -0.52849679682 -0.06309224376 -0.1458883473
1.4 1.4 1.4 1.4
-0.48906914561 -0.73989551554 -0.08832914126 -0.20424368623

-5307732 -4748554 -148489 -165004

-0.30314343286 -0.34909662305 -0.0112519447 -0.01259746768
3.3 3.3 3.3 3.3
-1.00037332845 -1.15201885608 -0.03713141752 -0.04157164334

-3088682 -6284062 -7074674 -8215826

859151 844821 961948 849890
-3.59503975436 -7.43833545804 -7.35452851921 -9.66692866136
0.6 0.6 0.6 0.6
-2.15702385262 -4.46300127483 -4.41271711153 -5.80015719681

3325063 3268457 3569017 4143388

0.189906161861 0.240285211307 0.270446847445 0.316332915667
1 1 1 1
0.189906161861 0.240285211307 0.270446847445 0.316332915667
-4.72825122116 -6.13669858985 -4.31170122435 -5.85419137314
-5.25771060212
Distress Zone Distress Zone Distress Zone Distress Zone
45%

3.3C + 0.6D + 1.0E

st and tax / total assets

y / total liabilities