COUDERSPORT, Pa. -- Adelphia Communications Corporation (OTC: ADELA) announced today that the U.S. Bankruptcy Court for the Southern District of New York has approved the Company's request for "first day orders," including: -- Immediate authority to pay employees' salaries and wages and to continue to provide health and other employee benefits to them; -- Authority to pay its local franchise authorities pre-petition obligations; and -- Authority to continue to satisfy all of its pre-petition obligations to customers, including with respect to rebates and deposits. The Court also entered various other orders to ensure that the Company has the ability to operate smoothly during the Chapter 11 process. The Company also announced that the Court has set a hearing for Friday, June 28, 2002, for Adelphia's motion for immediate access to $500 million of its $1.5 billion Debtor-in-Possession (DIP) financing provided by a consortium of bank lenders, led by JPMorgan Chase Bank and Citigroup USA, Inc. Adelphia and more than 200 of its subsidiaries announced earlier that voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code have been filed with the U.S. Bankruptcy Court for the Southern District of New York to restructure the Company's debt and reorganize the business. Adelphia Communications Corp.