SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549

                            --------------------

                                  FORM 8-K

                               CURRENT REPORT
                   PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934


Date of report (Date of earliest event reported)  April 1, 2002
                                                  -------------


                              CORECOMM LIMITED
 --------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Charter)


    Delaware                       000-31359             23-3032245
-------------------------------------------------------------------------------
(State or Other Jurisdiction       (Commission     (IRS Employer Identification
  of Incorporation)                File Number)             No.)


               110 East 59th Street, New York, New York        10022
-------------------------------------------------------------------------------
            (Address of Principal Executive Offices)          (Zip Code)


Registrant's Telephone Number, including area code (212) 906-8485
                                                   --------------


                               Not Applicable
-------------------------------------------------------------------------------
       (Former Name or Former Address, if Changed Since Last Report)




Item 5.  Other Events.

         On April 1, 2002, CoreComm Limited (the "Company") issued a press
release announcing (a) its earnings for the quarter and year ended December
31, 2001 and (b) that it was delaying filing of its Form 10-K for the year
ended December 31, 2001.

         The press release is filed as Exhibit 99.1 to this Form 8-K, and
is incorporated by reference in this Form 8-K.

Item 7.    Financial Statements, Pro Forma Financial Information and Exhibits.

(c)  Exhibits

Exhibit 99.1 Press release issued April 1, 2002.


                                 SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

                                         CORECOMM LIMITED

                                         By: /s/ Michael A. Peterson
                                             ------------------------------
                                             Name:   Michael A. Peterson
                                             Title:  Executive Vice President
                                                     Chief Operating Officer
                                                     Chief Financial Officer


Dated: April 1, 2002


                               EXHIBIT INDEX

Exhibit No.                Description

99.1                       Press release, issued April 1, 2002



                                                               Exhibit 99.1



CORECOMM LIMITED LOGO


FOR IMMEDIATE RELEASE


                  CORECOMM ANNOUNCES FINANCIAL RESULTS FOR 2001

              Company is EBITDA positive in the 4th Quarter of 2001

         Successful completion of $600 million recapitalization in 2001

     New York, New York (April 1, 2002) - CoreComm Limited (NASDAQ: COMM)
announced today its operating results for the year ended 2001.

     In 2001, the Company responded successfully to the challenges in the
telecommunications industry and financial markets and had many significant
achievements, both operationally and financially. Operationally, the
Company embarked in early 2001 on a significantly revised business plan,
designed to increase profitability and focus on its most efficient and
profitable businesses. By the end of the year, $140 million in annualized
expenses were eliminated and the Company reached EBITDA positive in the
fourth quarter. Financially, the Company commenced a recapitalization
effort in 2001, designed to reduce debt and other cash obligations. By the
end of 2001, the Company had successfully recapitalized approximately $600
million of debt and preferred stock, and had eliminated more than $100
million of other liabilities and future obligations. Throughout the year
and concurrent with these achievements, the Company continued to expand its
product lines, to add new customers and to improve the overall quality of
the service. CoreComm ended the year with approximately 400,000 total
customers.

     Thomas Gravina, Chief Executive Officer of CoreComm said, "2001 was a
remarkable year for the Company. We began the year by raising $90 million
in an extremely difficult financing environment and announced our revised
business model.


This business  model focuses the Company on its most  profitable  voice and data
products,  with a strong  regional  presence in the  Mid-Atlantic  and Mid-West,
where our customers are densely  concentrated.  Through our focused execution of
the  revised  business  plan  throughout  the  year,  we  successfully  achieved
substantial  cost  savings,   while  growing  revenues  in  targeted  areas  and
continuing  to implement  initiatives  to enhance the quality of our  customers'
experience.

     "As a result, we are pleased to announce that the Company reached
EBITDA positive in the fourth quarter. This represents the fourth
consecutive quarter of improved EBITDA results. In the fourth quarter, our
EBITDA (before corporate expenses) was $1.9 million, compared to losses of
($1.3) million in the third quarter, ($7.8) million in the second quarter
and ($22.2) million in the first quarter. We are now focused on maintaining
the current positive trend in our results and believe that the Company is
in a position to continue to generate additional positive EBITDA growth and
become cash flow positive by the end of 2002.

     "In addition to our successful operating results, we also completed a
substantial recapitalization of the Company's financial liabilities. We
successfully reached agreement with note and preferred stock holders to
recapitalize approximately $600 million of debt and preferred stock. We
also successfully negotiated with existing vendors and improved the terms
of existing payables, eliminating more than $100 million of liabilities and
future obligations while at the same time expanding our network and product
capabilities. These were tremendous wins for the Company. These
transactions have allowed us to create a more efficient and appropriate
capital structure, which will not only enable us to compete more
effectively in our growing industry, but will also put us in a position to
be involved in future strategic developments in our sector. We continue to
believe that the long-term fundamentals of our businesses are strong, and
that the Company is now poised to exploit the many opportunities before us.

     "We look forward to building on the significant progress the Company
made during 2001. With a revised capital structure and continued execution
of our business model, we plan to take advantage of the strong demand for
our voice and data services offerings in both the commercial and
residential markets. We remain confident in our ability to continue to
drive profitability, and look forward to another successful year in 2002.
Many thanks to our customers and vendors for their support, and to our
senior management team and associates for their highly effective leadership
and tremendous results in 2001."

     The components of EBITDA as defined by the Company are set forth in
the results summarized under the heading "Full Year Financial Results."
This definition is consistent across the periods referred to in this
release.

                         RECAPITALIZATION OVERVIEW

     On December 31, 2001, the Company announced that it had completed the first
phase of the previously  announced program to recapitalize a significant portion
of its debt.  During  the first  phase of the  recapitalization,  the  following
securities  were  exchanged  for   approximately   87%  of  the  equity  in  the
recapitalized company: 100% of the Company's $105.7 million of Senior Notes; 97%
($160 million) of the Company's  $164.75 million of 6% Convertible  Subordinated
Notes;  64% ($28 million) of the Company's  $43.7 million in Senior  Convertible
Notes; and 100% of the Company's approximately $300 million in Preferred Stock.

     The only remaining debt  obligations of the  recapitalized  company are its
$156.1 million credit facility,  $16.2 million in Senior  Convertible Notes, and
approximately  $9.9  million  in capital  leases;  there is no  preferred  stock
outstanding.  CoreComm Limited also has $4.75 million principal amount of its 6%
Convertible Subordinated Notes held by third parties outstanding.

     As a result of the  completion of the first phase of the  recapitalization,
CoreComm  Limited  now  owns   approximately   13%  of  CoreComm   Holdco,   the
recapitalized  company. As part of the second phase of the recapitalization,  on
February 8, 2002,


                                       3
<PAGE>


CoreComm  Holdco  launched  registered  public  exchange  offers  whereby  it is
offering to exchange  shares of CoreComm  Holdco  common stock to all holders of
CoreComm  Limited  common stock and to all remaining  holders of 6%  Convertible
Subordinated Notes for their common stock and notes, respectively.

     In  conjunction  with  Financial   Accounting  Standard  No.  121  and  the
completion  of the first phase of the  recapitalization,  the  Company  recorded
preliminary asset impairment charges of approximately $201 million in the fourth
quarter of 2001.  The Company is in the process of reviewing the  recoverability
of its goodwill and long-lived  assets.  This review indicates that the carrying
value  of  certain  assets  will  not be  recoverable.  During  1999  and  2000,
acquisitions  were made against a background  of  increasing  consolidation  and
record  valuations in the  telecommunications  industry.  The declining value of
assets in the telecommunications sector is reflected in these write-downs.  This
analysis has not been completed and these  write-downs  may be adjusted prior to
filing the CoreComm Limited Form 10-K for 2001.

     In  connection  with the  recapitalization,  Nasdaq has informed us that it
will treat  CoreComm  Holdco as a successor to CoreComm  Limited  following  the
successful exchange offer and related transactions. As a result, CoreComm Holdco
will become the Nasdaq listed entity and will be subject to the  requirements of
the Nasdaq for maintaining its continued listing.

                              OPERATING HIGHLIGHTS

     The Company commenced and successfully  executed a revised business plan in
2001.  The  Company  focused on its most  profitable  markets and  products  and
implemented many operating initiatives, which led to significant improvements to
the financial results.  The successful  operating  initiatives included facility
consolidation, efficiency improvements, elimination of less profitable products,
network optimization,  headcount reduction, and vendor negotiations. The Company
expects these initiatives to continue to drive positive financial results as the
Company  continuously   monitors  all  areas  of  its  business  for  additional
profitability and revenue growth going forward.

     This plan  culminated  in the Company's  first  quarter of EBITDA  positive
results in the fourth  quarter of 2001.  The fourth  quarter of 2001  marked the
fourth consecutive quarter of significantly improved profitability and operating
efficiencies.

     As part of this plan,  during 2001,  the Company also announced new revenue
initiatives  centered  around  its two most  promising  and  successful  product
offerings:  the first is  integrated  communications  products  and  other  high
bandwidth/data/web-oriented  services  for the  business  market;  the second is
bundled local telephony and Internet  products  efficiently  sold,  serviced and
provisioned  via  Internet-centric  interfaces to the  residential  market.  The
Company  also  plans  to drive  revenue  growth  by  capitalizing  on  efficient
opportunities in additional markets. For example, using existing facilities, the
Company has recently launched business communications service to several markets
in the Great Lakes region and residential service in the East.


                                       4
<PAGE>


     Subscriber Data

     The Company had the following subscribers as of December 31, 2001:

     -------------------------------------- ---------------------------
                                                December 31, 2001
     -------------------------------------- ---------------------------
     Residential Local Access Lines                   54,200
     -------------------------------------- ---------------------------
     Business Local Access Lines                     220,700
     -------------------------------------- ---------------------------
     Toll-related Access Line Equivalents            487,000
     -------------------------------------- ---------------------------
     Internet Subscribers                            332,500
     -------------------------------------- ---------------------------
     Other Data Customers (1)                         21,300
     -------------------------------------- ---------------------------

     (1) Other data customers  included  Point-to-Point  data,  Frame Relay, Web
     Development,  Web  Hosting,  E-Commerce,   Co-location  and  other  related
     customers.

     Revenue Breakdown

     The  Company's  revenues for the year were  attributable  to the  following
service categories:

     ---------------------------------------- ---------------------------
                                                          2001
     ---------------------------------------- ---------------------------
     Local Exchange Services                               32%
     ---------------------------------------- ---------------------------
     Toll-related Telephony Services                       26%
     ---------------------------------------- ---------------------------
     Internet, Data and Web-related Services               32%
     ---------------------------------------- ---------------------------
     Other Revenue                                         10%
     ---------------------------------------- ---------------------------
          Total                                           100%
     ---------------------------------------- ---------------------------

     Profitability Initiatives

     The  Company  engaged in a  significant  effort  during 2001 to improve its
profitability. These efficiencies are reflected in the decrease in the Company's
total expenses of more than $140 million on an annualized basis, as shown in the
table below:

<TABLE>
<CAPTION>

                                                                                 Three months ended,
                                                       -------------------------------------------------------------------
                                          % Reduction
($ in thousands)                          Q4'00-Q4'01      12/31/01      9/30/01       6/30/01       3/31/01     12/31/00
                                          -----------      --------      -------       -------       -------     --------
<S>                                               <C>       <C>          <C>           <C>           <C>          <C>
Operating Expenses                                25%       $48,865      $54,760       $57,662       $63,520      $64,877
Selling, General and Administrative               44%        21,912       20,879        23,369        31,599       38,966
Corporate Expenses                                63%         1,621        1,194         1,626         3,894        4,325
                                                  ---         -----        -----         -----         -----        -----
     Total Expenses                               33%       $72,398      $76,833       $82,657       $99,013     $108,168
</TABLE>

     The  improvements  shown  above are the  result of a variety  of  measures,
certain of which are also expected to generate  additional  savings  during 2002
and  going  forward.  The  initiatives  include:  network  operations  and asset
consolidation;  higher gross margin for delivery of telephony  services via UNE,
UNE-P, and EEL; elimination of products that do not meet profitability  targets;
and   consolidation  of  business  service   operations,   residential   service
operations,  and Internet  operations.  These initiatives and other general


                                       5
<PAGE>


cost  reduction  efforts  have  resulted  in  headcount  reductions  as  well as
elimination  of  expenses  related to overhead  and  general and  administrative
expenses.

     The Company has also continued its discussions  with vendors  regarding the
terms and conditions of its various vendor arrangements.  These discussions have
been  focused on  improving  present  and future  contract  terms,  reducing  or
eliminating current payable balances,  expanding our network, and developing new
product  lines.  The Company has been  successful in these  discussions to date,
particularly  with the many vendors that wish to maintain an ongoing  successful
relationship with the Company.

     In   conjunction   with  these   initiatives,   the  Company  has  recorded
reorganization  charges in 2001 of $37.4 million, which will be detailed further
in our annual report.

     Other Initiatives

     The Company has recently  announced other  advancements and examples of the
many successful customer relationships that it has established:

     o    The Company completed the construction of its Presidential
          Command Center, a state-of-the-art facility designed to help
          proactively monitor the Company's entire network throughout its
          East Coast footprint. The Command Center gives the Company vision
          into all parts of its voice and data network supporting Internet,
          Web Hosting, Private Line, Frame Relay and ATX CoreConnect(sm)
          Integrated Access customers by monitoring their network and other
          services, as well as allowing the Company to quickly respond to
          connectivity and CPE (Customer Premise Equipment) device issues.

     o    The Company has renewed its relationship with Apple Vacations,
          continuing the strategic partnership that began in 1999. The
          Company will continue to provide Apple Vacations with
          international long distance and wireless services, and will be
          Apple Vacations' local and long distance provider for the
          corporate headquarters in Newtown Square, Pennsylvania, and its
          office in Elk Grove Village, Illinois. The Company will also be
          providing inbound toll-free service for Apple Vacations' call
          centers. Additionally, the Company will be offering its voice and
          data services to Apple's network of over 7,000 travel agencies
          throughout the country that market Apple Vacations.

     o    The Company continued to be recognized by The Business Journal of
          Milwaukee for its success as an Internet Service Provider.
          CoreComm was recently named as the largest ISP in the Greater
          Milwaukee area. The Company has held this same position for the
          past two years (previously under the names of Voyager.net and
          ExecPC).

     o    The Company signed a two-year agreement with SP Industries to provide
          Internet and  interexchange and local exchange carrier voice


                                       6
<PAGE>


          services. The Company will also be connecting SP Industries' offices
          through a frame relay network.

     o    The Company extended its relationship with Public Financial
          Management ("PFM"), a customer since 1997, for the third
          consecutive term. The Company is connecting 17 PFM locations
          nationwide through a frame relay network.

     o    The Company renewed its strategic partnership with the New Jersey
          Technology Council (NJTC) for an additional two years. The
          Company will continue as the NJTC-endorsed "Preferred Provider"
          of voice and data solutions -- a distinction it has held since
          1999 -- to the association's approximately 1,300 member
          companies. The Company also continued its strategic marketing
          alliance with the Eastern Technology Council, a relationship that
          began in 1997; the Company currently has hundreds of member
          companies as customers.

     o    The Company renewed its relationship with Commonwealth Bank, a
          customer since 1991. The Company is providing dedicated and
          switched interexchange carrier services for 60 of Commonwealth's
          locations in the Greater Philadelphia region, including its
          headquarters in Norristown, Pennsylvania. Additionally, multiple
          sites are supplied with broadband Internet connectivity. The
          Company has also implemented a backup network for Commonwealth
          for redundancy purposes and disaster recovery.

     o    The Company continued to deliver bandwidth and network services
          to Harley-Davidson Motor Co. (NYSE: HDI) in the Great Lakes
          region.

     o    The Company launched its suite of Managed Services products which
          includes Managed Security Solutions, Managed WANs, Managed Web
          Hosting, and Hosted Microsoft(R) Exchange. The solutions are
          bundled with traditional voice and data products and are designed
          to increase network performance and availability and reduce IT
          Staffing costs for customers. The Company has already secured
          agreements with various customers for Managed Services, ranging
          from regional IT organizations to notable firms in local
          industries.

     o    The Company expanded the integrated Internet, voice and frame
          relay solution that it provides to National Paintball Supply, the
          world's largest paintball products distributor and a customer
          since 1996. The Company implemented a robust, broadband solution
          for National Paintball Supply, enabling live video streaming that
          allows web users to watch live coverage of paintball tournaments
          around the globe.


                                       7
<PAGE>

                               OTHER DEVELOPMENTS

     Recapitalization Plan

     By early December  2001,  CoreComm  Limited  entered into  agreements  with
numerous holders of its 6% Convertible  Subordinated Notes due 2006, whereby the
holders  agreed,  among other things,  to exchange their notes for the amount of
the  October 1, 2001  interest  payment  of  approximately  $4.8  million in the
aggregate,  and shares of Holdco common stock as part of a  restructuring  plan.
The  exchange  was  completed  in December  2001,  including  the payment of the
approximately $4.8 million to such noteholders.

     In December 2001, both CoreComm Holdco and CoreComm Limited entered into an
exchange agreement with:

     (1)  Holders of 10.75% Unsecured  Convertible PIK Notes due 2011 and 10.75%
          Senior Unsecured  Convertible PIK Notes due 2010, both of which were a
          joint  obligation  of CoreComm  Limited and  CoreComm  Holdco,  in the
          initial   principal   amounts  of  $10  million  and  $16.1   million,
          respectively;

     (2)  Holders of Senior  Unsecured Notes due 2003 of CoreComm Limited in the
          principal amount of $105.7 million; and

     (3)  Holders of all of the preferred  stock of CoreComm,  with an aggregate
          liquidation value $300 million.

     The exchange  agreement provided for the security holders to exchange their
securities  for  shares  of  CoreComm   Holdco  common  stock  as  part  of  the
recapitalization.  In December 2001, the credit  agreement  governing the senior
secured facility was amended to permit the recapitalization to occur.

     By  December  28,  2001,  the  first  phase  of  the  recapitalization  was
completed.  As a result,  the only  material  asset of  CoreComm  Limited is its
current approximate 13% interest in CoreComm Holdco. Following the completion of
the  second  phase  of the  recapitalization,  CoreComm  Limited  will  become a
subsidiary  of  CoreComm  Holdco,  and  CoreComm  Limited  will have no material
assets.

     Management Changes

     The Company also  recently  announced  that it had named Thomas  Gravina as
President and Chief Executive Officer and named Michael A. Peterson as Executive
Vice President,  Chief Operating  Officer and Chief Financial  Officer.  Barclay
Knapp has become Chairman of the Board and George Blumenthal has become Chairman
Emeritus.  Gravina and  Peterson  have also joined  CoreComm  Holdco's  Board of
Directors. In addition, the Board of Directors of CoreComm Holdco has elected as
a director Ralph H. Booth II, who is the Chairman and Chief Executive Officer of
Booth American  Company.  Booth American Company made investments in the Company
in 2000 and 2001. Gregg N. Gorelick has been promoted to Senior Vice President -
Controller and


                                       8
<PAGE>

Treasurer.  Alan  Patricof and Warren Potash will continue to serve on the Board
of Directors.

     Year End Audit

     As a result of the completion of the first phase of the recapitalization as
described  above,  currently the only material asset of CoreComm  Limited is its
approximate  13% interest in CoreComm  Holdco.  Following the  completion of the
second phase of the recapitalization,  CoreComm Limited will become a subsidiary
of CoreComm Holdco,  and CoreComm  Limited will have no material  assets.  Given
these and other  facts,  the  auditors of CoreComm  Limited will include a going
concern explanatory paragraph in their audit report for CoreComm Limited for the
year ended December 31, 2001.

     CoreComm  Holdco  expects to  receive a "clean"  opinion  from its  outside
auditors  and thus the audit  report of CoreComm  Holdco will not contain such a
going concern  paragraph as it is anticipated  that CoreComm Holdco will be able
to meet its  obligations  as they  become  due with cash on hand and funds  from
operations during 2002.

     Under the exchange offers,  those shareholders and noteholders who exchange
their current shares and notes of CoreComm Limited,  respectively,  will receive
shares of  CoreComm  Holdco,  and would no longer  have  securities  of CoreComm
Limited.

     Nasdaq Listing

     On February 14, 2002,  CoreComm Limited received written  notification from
Nasdaq indicating that CoreComm Limited failed to comply with the minimum market
value of publicly held shares and minimum bid price  requirements  for continued
listing on the Nasdaq  National Market and that it would have until May 15, 2002
to regain compliance.  If the restructuring  plan is not successfully  completed
and the Company does not regain  compliance by this date,  Nasdaq stated that it
will then provide the Company written notification that its common stock will be
delisted from the Nasdaq National  Market.  If CoreComm  Limited common stock is
delisted from the Nasdaq National  Market,  shares may trade in the Nasdaq Small
Cap Market or the  over-the-counter  market and price quotations may be reported
by other  sources.  The extent of the public  market for the shares of  CoreComm
Limited common stock and the  availability  of quotations for shares of CoreComm
Limited common stock would, however, depend upon the number of holders of shares
remaining at that time,  the interest in  maintaining  a market in shares of the
common  stock on the part of  securities  firms,  the  possible  termination  of
registration of the shares under the Securities  Exchange Act of 1934, and other
factors.

                                       9
<PAGE>




                  FULL YEAR FINANCIAL RESULTS (2001 Unaudited)



                                                         Year Ended
                                                         December 31,
                                                  2001(1)         2000(2)
                                                 ---------       ---------
                                           (in thousands, except per share data)

Revenues                                         $ 293,207       $ 132,122

Costs and expenses:
Operating                                          224,807         142,323
Selling, general & administrative                   97,759         111,010
                                                 ---------       ---------
      EBITDA                                       (29,359)       (121,211)

Corporate                                            8,335          12,884
Non-cash compensation                               21,638          43,440
Other charges                                       39,514          12,706
Asset impairments                                  368,288          35,920
Depreciation and amortization                      145,499          73,166
                                                 ---------       ---------
     Operating (loss)                             (612,633)       (299,327)

Other income (expense):
Net interest and other                             (46,357)        (14,234)
Income tax provision                                   (98)           (250)
Extraordinary item                                  39,498              --
                                                 ---------       ---------
     Net (loss)                                  $(619,590)      $(313,811)
                                                 =========       =========

Basic and diluted net (loss) per share (3):
    (Loss) before extraordinary item             $   (6.77)      $   (6.73)
    Extraordinary item                                0.39              --
                                                 ---------       ---------
   Net (loss) per common share                   $   (6.38)      $   (6.73)
                                                 =========       =========

Weighted average shares                            100,669          47,480
                                                 =========       =========

(1)  We reduced the carrying value of fixed assets, goodwill and other
     intangibles by $368.3 million based on a review of the recoverability of
     goodwill and long-lived assets. As a result of the recapitalization plan,
     we recorded non-cash compensation expense of $8.7 million (which is
     included in the $21.6 million above) and recorded an extraordinary gain on
     the early extinguishment of debt of $25.7 million (which is included in the
     $39.5 million above.)

(2)  As a result of the completion of the acquisitions of ATX and Voyager in
     September 2000, we consolidated the results of operations of these
     businesses from the dates of acquisition.

(3)  After giving effect to the dividends and accretion on preferred stock of
     $22.4 million and $5.6 million in the years ended December 31, 2001 and
     2000, respectively.


                                   FOURTH QUARTER FINANCIAL RESULTS (Unaudited)

                                              For the Three Month Period Ended
                                                       December 31,
                                                 2001(1)         2000(2)
                                                ---------       ---------
                                          (in thousands, except per share data)

Revenues                                        $  72,720       $  75,503

Costs and expenses:
Operating                                          48,865          64,877
Selling, general & administrative                  21,912          38,966
                                                ---------       ---------
      EBITDA                                        1,943         (28,340)

Corporate                                           1,621           4,325
Non-cash compensation                              11,936           8,020
Other charges                                       2,119          11,931
Asset impairments                                 200,689          35,920
Depreciation and amortization                      35,455          43,860
                                                ---------       ---------
     Operating (loss)                            (249,877)       (132,396)

Other income (expense):
Net interest and other                            (12,961)         (8,276)
Income tax (provision) benefit                       (332)             71
Extraordinary item                                 37,282              --
                                                ---------       ---------
     Net (loss)                                 $(225,888)      $(140,601)
                                                =========       =========

Basic and diluted net (loss) per share (3):
    (Loss) before extraordinary item            $   (1.92)      $   (2.08)
    Extraordinary item                               0.27              --
                                                ---------       ---------
   Net (loss) per common share                  $   (1.65)      $   (2.08)
                                                =========       =========

Weighted average shares                           140,070          70,261
                                                =========       =========

(1)  We reduced the carrying value of fixed assets, goodwill and other
     intangibles by $200.7 million based on a review of the recoverability of
     goodwill and long-lived assets. As a result of the recapitalization plan,
     we recorded non-cash compensation expense of $8.7 million (which is
     included in the $11.9 million above) and recorded an extraordinary gain on
     the early extinguishment of debt of $25.7 million (which is include in the
     $37.3 million above.)

(2)  As a result of the completion of the acquisitions of ATX and Voyager in
     September 2000, we consolidated the results of operations of these
     businesses from the dates of acquisition.

(3)  After giving effect to the dividends and accretion on preferred stock of
     $5.7 million and $5.5 million in the three months ended December 31, 2001
     and 2000, respectively.


<PAGE>

                    DISCUSSION OF FULL YEAR OPERATING RESULTS

Results Of Operations

     The first phase of the restructuring plan was completed on December
28, 2001. As a result of the completion of the first phase of the
restructuring plan, CoreComm Limited's only material asset is its ownership
of approximately 13% of the outstanding capital stock of CoreComm Holdco.
The operating results discussed here include CoreComm Holdco for all
periods. After December 28, 2001, CoreComm Limited accounts for all of
CoreComm Holdco's operations using the equity method. CoreComm Limited does
not have any significant operations of its own.

     As a result of the acquisitions of ATX and Voyager in September 2000,
CoreComm Limited consolidated the results of operations of these businesses
from the dates of acquisition.

     The increase in revenues to $293,207,000 from $132,122,000 is due to
acquisitions in 2000, which accounted for $166,737,000 of the increase.
This increase is offset by a decline in revenue attributed to the customer
base associated with the USN assets acquired in May 1999. The revenues from
the USN customer based peaked in the third quarter of 1999 after CoreComm
Limited's acquisition and, as expected, declined thereafter. USN
Communications, Inc. was a CLEC that operated on a resale basis. The
underlying operations, customer relationships and future revenue streams of
the resale CLEC business have declined since CoreComm Limited's
acquisition.

     Operating costs include direct cost of sales, network costs and
salaries and related expenses of network personnel. Operating costs
increased to $224,807,000 from $142,323,000 due to acquisitions in 2000,
which amounted to $111,878,000 of the increase. This increase is offset by
a decrease in costs of $29,394,000 in 2001 primarily as a result of the
implementation of CoreComm Limited's modified business plan as described
above.

     Selling, general and administrative expenses decreased to $97,759,000
from $111,010,000 primarily as a result of the implementation of CoreComm
Limited's modified business plan as described above. These expense
reductions amounted to $65,699,000 in 2001. This decrease is offset by an
increase due to acquisitions in 2000, which amounted to $52,448,000.

     Corporate expenses include the costs of CoreComm Limited's officers
and headquarters staff, the costs of operating the headquarters and costs
incurred for strategic planning and evaluation of business opportunities.
Corporate expenses decreased to $8,335,000 from $12,884,000 primarily as a
result of the implementation of CoreComm Limited's modified business plan
as described above.

     In  accordance  with APB Opinion No. 25,  "Accounting  for Stock  Issued to
Employees," in April 2000,  CoreComm  Limited  recorded a non-cash  compensation


                                       12
<PAGE>

expense  of  approximately  $29.0  million  and a non-cash  deferred  expense of
approximately  $31.3 million due to the issuance of options to employees in 2000
at an exercise  price of $14.55  which was less than the fair value of Limited's
common stock on the date of the grant. From April 2000 to December 31, 2001, the
deferred non-cash  compensation was charged to expense,  including $21.6 million
and $9.7 million in the years ended  December  31, 2001 and 2000,  respectively.
Also in 2000,  non-cash  compensation  includes  $4.7 million  related to option
rescissions.

     Other charges in 2001 include reorganization charges of $37,372,000
and an adjustment to the reserve for notes receivable from former officers
of an acquired business of $2,142,000. The reorganization charges relate to
the Company's announcements in May and July 2001 that it was taking
additional actions to reorganize, re-size and reduce operating costs and
create greater efficiency in various areas of the Company. An aggregate of
$21,386,000 of these costs is for equipment and other assets that did not
and will not require any future cash outlays. Other charges in 2000 include
a reserve of $8,700,000 for notes receivable and reorganization charges of
$4,006,000.

     CoreComm Holdco performed a review of the recoverability of its
goodwill and long-lived assets, which indicated that the carrying value of
certain assets would not be recoverable. During 1999 and 2000, acquisitions
were made against a background of increasing consolidation and record
valuations in the telecommunications industry. CoreComm Holdco recorded
preliminary impairment charges of $201 million as a result of this
evaluation. This analysis has not been completed and these write-downs may
be adjusted prior to filing the CoreComm Limited Form 10-K for 2001. In
addition, at March 31, 2001, CoreComm Limited reduced the carrying amount
of goodwill related to the Voyager and MegsINet acquisitions by $168
million.

     The Company expects to file Securities and Exchange Commission Form
12b-25 that will result in extending the time to file the Form 10-K until
April 16, 2002. The Company will file the Form 10-K on or before April 16,
2002.

     Depreciation expense increased to $48,110,000 from $30,746,000
primarily as a result of an increase in fixed assets due to acquisitions in
2000.

     Amortization expense increased to $97,389,000 from $42,420,000 due to
the amortization of goodwill from the acquisitions in 2000.

     Interest income and other, net, decreased to $1,957,000 from
$6,223,000 primarily due to the reduction of interest income resulting from
lower cash balances in 2001.

     Interest expense increased to $48,314,000 from $20,457,000 primarily
due to increased borrowings in 2001 to fund CoreComm Limited's acquisitions
and operations.


                                       13
<PAGE>

     The income tax provision of $98,000 in 2001 and $250,000 in 2000 are
for state and local income tax.

     Extraordinary gains in 2001 of $39,498,000 relate to the completion of
the first phase of the recapitalization plan, as well as the successful
settlement of various equipment and working capital notes and capital
leases for less than the outstanding balance.

                                       ***

     The foregoing reference to the exchange offers shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of shares of common stock of CoreComm Holdco in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. Investors and
security holders are urged to read the following documents (including
amendments that may be made to them), regarding the exchange offers because
they contain important information:

     -    CoreComm Holdco's preliminary  prospectus,  prospectus supplements and
          final prospectus;

     -    CoreComm Holdco's registration  statement on Form S-4, containing such
          documents and other information; and

     -    CoreComm Holdco's Schedule TO.

     These documents and amendments and supplements to these documents have
been and will continue to be filed, as they may be amended and
supplemented, with the Securities and Exchange Commission. When these and
other documents are filed with the SEC, they may be obtained free at the
SEC's web site at www.sec.gov. You may also obtain for free each of these
documents (when available) from CoreComm Holdco by directing your request
to the number listed below.

     For further information regarding the exchange offers, including
obtaining additional copies of the exchange offer materials, we encourage
you to contact the information agent:

D.F. King & Co., Inc.
77 Water Street
New York, New York 10005
Banks and Brokers Call Collect: (212) 269-5550
All Others Call Toll Free: (800) 848-2998

                                       ***


                                       14
<PAGE>


CoreComm provides integrated  telephone,  Internet and data services to business
and residential customers in several markets in the United States.


Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Certain statements  contained herein,  specifically  excluding references to the
exchange offers, constitute "forward-looking statements" as that term is defined
under the Private  Securities  Litigation  Reform Act of 1995. When used herein,
the words,  "believe,"  "anticipate,"  "plan,"  "will,"  "expects,"  "projects,"
"positioned,"  "strategy," and similar expressions identify such forward-looking
statements.  Such  forward-looking  statements  involve known and unknown risks,
uncertainties  and other factors that may cause the actual results,  performance
or achievements of the Company, or industry results, to be materially  different
from those contemplated,  projected,  forecasted, estimated or budgeted, whether
expressed or implied, by such forward-looking  statements.  Such factors include
the following:  the ability of the Company to continue as a going  concern,  the
continued  viability of the Company if the restructuring plan is not consummated
on a timely  basis,  the  ability  of the  Company  to obtain  trade  credit and
shipments and terms with vendors and service  providers for current orders;  the
Company's  ability to maintain  contracts  that are critical to its  operations;
potential  adverse  developments  with  respect to the  Company's  liquidity  or
results of  operations;  the ability to fund and execute its business  plan; the
ability to attract,  retain and compensate key  executives and  associates;  the
ability of the Company to attract and retain  customers;  general  economic  and
business  conditions,  technological  developments,  the  Company's  ability  to
continue  to design  networks,  install  facilities,  obtain  and  maintain  any
required  governmental  licenses  or  approvals  and  finance  construction  and
development,  all in a timely  manner at  reasonable  costs and on  satisfactory
terms and conditions,  as well as assumptions about customer  acceptance,  churn
rates,  overall market penetration and competition from providers of alternative
services, the impact of restructuring and integration actions, the impact of new
business opportunities requiring significant up-front investment,  interest rate
fluctuations  and  availability,  terms and  deployment of capital.  The Company
assumes no obligation to update the forward-looking  statements contained herein
to  reflect  actual  results,  changes  in  assumptions  or  changes  in factors
affecting such statements.

For further  information  please  contact:  Winston Black,  Director - Corporate
Development at (212) 906-8485.


                                     15
[{"type": "8-K", "sequence": "1", "filename": "s614609.txt", "description": "8-K", "secsgml_size_bytes": 45780}]
{"company-data": {"conformed-name": "CORECOMM LTD /DE/", "cik": "0001121884", "assigned-sic": "4812", "irs-number": "233032245", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-31359", "film-number": "02598918"}, "business-address": {"street1": "110 EAST 59TH ST", "street2": "26TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "2129068485"}, "mail-address": {"street1": "110 EAST 59TH ST", "street2": "26TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": {"former-conformed-name": "ATX TELECOMMUNICATIONS SERVICES INC", "date-changed": "20000811"}}
SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549

                            --------------------

                                  FORM 8-K

                               CURRENT REPORT
                   PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported)  April 1, 2002
                                                  -------------

                              CORECOMM LIMITED
 --------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Charter)

    Delaware                       000-31359             23-3032245
-------------------------------------------------------------------------------
(State or Other Jurisdiction       (Commission     (IRS Employer Identification
  of Incorporation)                File Number)             No.)

               110 East 59th Street, New York, New York        10022
-------------------------------------------------------------------------------
            (Address of Principal Executive Offices)          (Zip Code)

Registrant's Telephone Number, including area code (212) 906-8485
                                                   --------------

                               Not Applicable
-------------------------------------------------------------------------------
       (Former Name or Former Address, if Changed Since Last Report)

Item 5.  Other Events.

         On April 1, 2002, CoreComm Limited (the "Company") issued a press
release announcing (a) its earnings for the quarter and year ended December
31, 2001 and (b) that it was delaying filing of its Form 10-K for the year
ended December 31, 2001.

         The press release is filed as Exhibit 99.1 to this Form 8-K, and
is incorporated by reference in this Form 8-K.

Item 7.    Financial Statements, Pro Forma Financial Information and Exhibits.

(c)  Exhibits

Exhibit 99.1 Press release issued April 1, 2002.

                                 SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

                                         CORECOMM LIMITED

                                         By: /s/ Michael A. Peterson
                                             ------------------------------
                                             Name:   Michael A. Peterson
                                             Title:  Executive Vice President
                                                     Chief Operating Officer
                                                     Chief Financial Officer

Dated: April 1, 2002

                               EXHIBIT INDEX

Exhibit No.                Description

99.1                       Press release, issued April 1, 2002

                                                               Exhibit 99.1

CORECOMM LIMITED LOGO

FOR IMMEDIATE RELEASE

                  CORECOMM ANNOUNCES FINANCIAL RESULTS FOR 2001

              Company is EBITDA positive in the 4th Quarter of 2001

         Successful completion of $600 million recapitalization in 2001

     New York, New York (April 1, 2002) - CoreComm Limited (NASDAQ: COMM)
announced today its operating results for the year ended 2001.

     In 2001, the Company responded successfully to the challenges in the
telecommunications industry and financial markets and had many significant
achievements, both operationally and financially. Operationally, the
Company embarked in early 2001 on a significantly revised business plan,
designed to increase profitability and focus on its most efficient and
profitable businesses. By the end of the year, $140 million in annualized
expenses were eliminated and the Company reached EBITDA positive in the
fourth quarter. Financially, the Company commenced a recapitalization
effort in 2001, designed to reduce debt and other cash obligations. By the
end of 2001, the Company had successfully recapitalized approximately $600
million of debt and preferred stock, and had eliminated more than $100
million of other liabilities and future obligations. Throughout the year
and concurrent with these achievements, the Company continued to expand its
product lines, to add new customers and to improve the overall quality of
the service. CoreComm ended the year with approximately 400,000 total
customers.

     Thomas Gravina, Chief Executive Officer of CoreComm said, "2001 was a
remarkable year for the Company. We began the year by raising $90 million
in an extremely difficult financing environment and announced our revised
business model.

This business  model focuses the Company on its most  profitable  voice and data
products,  with a strong  regional  presence in the  Mid-Atlantic  and Mid-West,
where our customers are densely  concentrated.  Through our focused execution of
the  revised  business  plan  throughout  the  year,  we  successfully  achieved
substantial  cost  savings,   while  growing  revenues  in  targeted  areas  and
continuing  to implement  initiatives  to enhance the quality of our  customers'
experience.

     "As a result, we are pleased to announce that the Company reached
EBITDA positive in the fourth quarter. This represents the fourth
consecutive quarter of improved EBITDA results. In the fourth quarter, our
EBITDA (before corporate expenses) was $1.9 million, compared to losses of
($1.3) million in the third quarter, ($7.8) million in the second quarter
and ($22.2) million in the first quarter. We are now focused on maintaining
the current positive trend in our results and believe that the Company is
in a position to continue to generate additional positive EBITDA growth and
become cash flow positive by the end of 2002.

     "In addition to our successful operating results, we also completed a
substantial recapitalization of the Company's financial liabilities. We
successfully reached agreement with note and preferred stock holders to
recapitalize approximately $600 million of debt and preferred stock. We
also successfully negotiated with existing vendors and improved the terms
of existing payables, eliminating more than $100 million of liabilities and
future obligations while at the same time expanding our network and product
capabilities. These were tremendous wins for the Company. These
transactions have allowed us to create a more efficient and appropriate
capital structure, which will not only enable us to compete more
effectively in our growing industry, but will also put us in a position to
be involved in future strategic developments in our sector. We continue to
believe that the long-term fundamentals of our businesses are strong, and
that the Company is now poised to exploit the many opportunities before us.

     "We look forward to building on the significant progress the Company
made during 2001. With a revised capital structure and continued execution
of our business model, we plan to take advantage of the strong demand for
our voice and data services offerings in both the commercial and
residential markets. We remain confident in our ability to continue to
drive profitability, and look forward to another successful year in 2002.
Many thanks to our customers and vendors for their support, and to our
senior management team and associates for their highly effective leadership
and tremendous results in 2001."

     The components of EBITDA as defined by the Company are set forth in
the results summarized under the heading "Full Year Financial Results."
This definition is consistent across the periods referred to in this
release.

                         RECAPITALIZATION OVERVIEW

     On December 31, 2001, the Company announced that it had completed the first
phase of the previously  announced program to recapitalize a significant portion
of its debt.  During  the first  phase of the  recapitalization,  the  following
securities  were  exchanged  for   approximately   87%  of  the  equity  in  the
recapitalized company: 100% of the Company's $105.7 million of Senior Notes; 97%
($160 million) of the Company's  $164.75 million of 6% Convertible  Subordinated
Notes;  64% ($28 million) of the Company's  $43.7 million in Senior  Convertible
Notes; and 100% of the Company's approximately $300 million in Preferred Stock.

     The only remaining debt  obligations of the  recapitalized  company are its
$156.1 million credit facility,  $16.2 million in Senior  Convertible Notes, and
approximately  $9.9  million  in capital  leases;  there is no  preferred  stock
outstanding.  CoreComm Limited also has $4.75 million principal amount of its 6%
Convertible Subordinated Notes held by third parties outstanding.

     As a result of the  completion of the first phase of the  recapitalization,
CoreComm  Limited  now  owns   approximately   13%  of  CoreComm   Holdco,   the
recapitalized  company. As part of the second phase of the recapitalization,  on
February 8, 2002,

                                       3
CoreComm  Holdco  launched  registered  public  exchange  offers  whereby  it is
offering to exchange  shares of CoreComm  Holdco  common stock to all holders of
CoreComm  Limited  common stock and to all remaining  holders of 6%  Convertible
Subordinated Notes for their common stock and notes, respectively.

     In  conjunction  with  Financial   Accounting  Standard  No.  121  and  the
completion  of the first phase of the  recapitalization,  the  Company  recorded
preliminary asset impairment charges of approximately $201 million in the fourth
quarter of 2001.  The Company is in the process of reviewing the  recoverability
of its goodwill and long-lived  assets.  This review indicates that the carrying
value  of  certain  assets  will  not be  recoverable.  During  1999  and  2000,
acquisitions  were made against a background  of  increasing  consolidation  and
record  valuations in the  telecommunications  industry.  The declining value of
assets in the telecommunications sector is reflected in these write-downs.  This
analysis has not been completed and these  write-downs  may be adjusted prior to
filing the CoreComm Limited Form 10-K for 2001.

     In  connection  with the  recapitalization,  Nasdaq has informed us that it
will treat  CoreComm  Holdco as a successor to CoreComm  Limited  following  the
successful exchange offer and related transactions. As a result, CoreComm Holdco
will become the Nasdaq listed entity and will be subject to the  requirements of
the Nasdaq for maintaining its continued listing.

                              OPERATING HIGHLIGHTS

     The Company commenced and successfully  executed a revised business plan in
2001.  The  Company  focused on its most  profitable  markets and  products  and
implemented many operating initiatives, which led to significant improvements to
the financial results.  The successful  operating  initiatives included facility
consolidation, efficiency improvements, elimination of less profitable products,
network optimization,  headcount reduction, and vendor negotiations. The Company
expects these initiatives to continue to drive positive financial results as the
Company  continuously   monitors  all  areas  of  its  business  for  additional
profitability and revenue growth going forward.

     This plan  culminated  in the Company's  first  quarter of EBITDA  positive
results in the fourth  quarter of 2001.  The fourth  quarter of 2001  marked the
fourth consecutive quarter of significantly improved profitability and operating
efficiencies.

     As part of this plan,  during 2001,  the Company also announced new revenue
initiatives  centered  around  its two most  promising  and  successful  product
offerings:  the first is  integrated  communications  products  and  other  high
bandwidth/data/web-oriented  services  for the  business  market;  the second is
bundled local telephony and Internet  products  efficiently  sold,  serviced and
provisioned  via  Internet-centric  interfaces to the  residential  market.  The
Company  also  plans  to drive  revenue  growth  by  capitalizing  on  efficient
opportunities in additional markets. For example, using existing facilities, the
Company has recently launched business communications service to several markets
in the Great Lakes region and residential service in the East.

                                       4
Subscriber Data

     The Company had the following subscribers as of December 31, 2001:

     -------------------------------------- ---------------------------
                                                December 31, 2001
     -------------------------------------- ---------------------------
     Residential Local Access Lines                   54,200
     -------------------------------------- ---------------------------
     Business Local Access Lines                     220,700
     -------------------------------------- ---------------------------
     Toll-related Access Line Equivalents            487,000
     -------------------------------------- ---------------------------
     Internet Subscribers                            332,500
     -------------------------------------- ---------------------------
     Other Data Customers (1)                         21,300
     -------------------------------------- ---------------------------

     (1) Other data customers  included  Point-to-Point  data,  Frame Relay, Web
     Development,  Web  Hosting,  E-Commerce,   Co-location  and  other  related
     customers.

     Revenue Breakdown

     The  Company's  revenues for the year were  attributable  to the  following
service categories:

     ---------------------------------------- ---------------------------
                                                          2001
     ---------------------------------------- ---------------------------
     Local Exchange Services                               32%
     ---------------------------------------- ---------------------------
     Toll-related Telephony Services                       26%
     ---------------------------------------- ---------------------------
     Internet, Data and Web-related Services               32%
     ---------------------------------------- ---------------------------
     Other Revenue                                         10%
     ---------------------------------------- ---------------------------
          Total                                           100%
     ---------------------------------------- ---------------------------

     Profitability Initiatives

     The  Company  engaged in a  significant  effort  during 2001 to improve its
profitability. These efficiencies are reflected in the decrease in the Company's
total expenses of more than $140 million on an annualized basis, as shown in the
table below:
Three months ended,
                                                       -------------------------------------------------------------------
                                          % Reduction
($ in thousands)                          Q4'00-Q4'01      12/31/01      9/30/01       6/30/01       3/31/01     12/31/00
                                          -----------      --------      -------       -------       -------     --------
Operating Expenses                                25%       $48,865      $54,760       $57,662       $63,520      $64,877
Selling, General and Administrative               44%        21,912       20,879        23,369        31,599       38,966
Corporate Expenses                                63%         1,621        1,194         1,626         3,894        4,325
                                                  ---         -----        -----         -----         -----        -----
     Total Expenses                               33%       $72,398      $76,833       $82,657       $99,013     $108,168
The  improvements  shown  above are the  result of a variety  of  measures,
certain of which are also expected to generate  additional  savings  during 2002
and  going  forward.  The  initiatives  include:  network  operations  and asset
consolidation;  higher gross margin for delivery of telephony  services via UNE,
UNE-P, and EEL; elimination of products that do not meet profitability  targets;
and   consolidation  of  business  service   operations,   residential   service
operations,  and Internet  operations.  These initiatives and other general

                                       5
cost  reduction  efforts  have  resulted  in  headcount  reductions  as  well as
elimination  of  expenses  related to overhead  and  general and  administrative
expenses.

     The Company has also continued its discussions  with vendors  regarding the
terms and conditions of its various vendor arrangements.  These discussions have
been  focused on  improving  present  and future  contract  terms,  reducing  or
eliminating current payable balances,  expanding our network, and developing new
product  lines.  The Company has been  successful in these  discussions to date,
particularly  with the many vendors that wish to maintain an ongoing  successful
relationship with the Company.

     In   conjunction   with  these   initiatives,   the  Company  has  recorded
reorganization  charges in 2001 of $37.4 million, which will be detailed further
in our annual report.

     Other Initiatives

     The Company has recently  announced other  advancements and examples of the
many successful customer relationships that it has established:

     o    The Company completed the construction of its Presidential
          Command Center, a state-of-the-art facility designed to help
          proactively monitor the Company's entire network throughout its
          East Coast footprint. The Command Center gives the Company vision
          into all parts of its voice and data network supporting Internet,
          Web Hosting, Private Line, Frame Relay and ATX CoreConnect(sm)
          Integrated Access customers by monitoring their network and other
          services, as well as allowing the Company to quickly respond to
          connectivity and CPE (Customer Premise Equipment) device issues.

     o    The Company has renewed its relationship with Apple Vacations,
          continuing the strategic partnership that began in 1999. The
          Company will continue to provide Apple Vacations with
          international long distance and wireless services, and will be
          Apple Vacations' local and long distance provider for the
          corporate headquarters in Newtown Square, Pennsylvania, and its
          office in Elk Grove Village, Illinois. The Company will also be
          providing inbound toll-free service for Apple Vacations' call
          centers. Additionally, the Company will be offering its voice and
          data services to Apple's network of over 7,000 travel agencies
          throughout the country that market Apple Vacations.

     o    The Company continued to be recognized by The Business Journal of
          Milwaukee for its success as an Internet Service Provider.
          CoreComm was recently named as the largest ISP in the Greater
          Milwaukee area. The Company has held this same position for the
          past two years (previously under the names of Voyager.net and
          ExecPC).

     o    The Company signed a two-year agreement with SP Industries to provide
          Internet and  interexchange and local exchange carrier voice

                                       6
services. The Company will also be connecting SP Industries' offices
          through a frame relay network.

     o    The Company extended its relationship with Public Financial
          Management ("PFM"), a customer since 1997, for the third
          consecutive term. The Company is connecting 17 PFM locations
          nationwide through a frame relay network.

     o    The Company renewed its strategic partnership with the New Jersey
          Technology Council (NJTC) for an additional two years. The
          Company will continue as the NJTC-endorsed "Preferred Provider"
          of voice and data solutions -- a distinction it has held since
          1999 -- to the association's approximately 1,300 member
          companies. The Company also continued its strategic marketing
          alliance with the Eastern Technology Council, a relationship that
          began in 1997; the Company currently has hundreds of member
          companies as customers.

     o    The Company renewed its relationship with Commonwealth Bank, a
          customer since 1991. The Company is providing dedicated and
          switched interexchange carrier services for 60 of Commonwealth's
          locations in the Greater Philadelphia region, including its
          headquarters in Norristown, Pennsylvania. Additionally, multiple
          sites are supplied with broadband Internet connectivity. The
          Company has also implemented a backup network for Commonwealth
          for redundancy purposes and disaster recovery.

     o    The Company continued to deliver bandwidth and network services
          to Harley-Davidson Motor Co. (NYSE: HDI) in the Great Lakes
          region.

     o    The Company launched its suite of Managed Services products which
          includes Managed Security Solutions, Managed WANs, Managed Web
          Hosting, and Hosted Microsoft(R) Exchange. The solutions are
          bundled with traditional voice and data products and are designed
          to increase network performance and availability and reduce IT
          Staffing costs for customers. The Company has already secured
          agreements with various customers for Managed Services, ranging
          from regional IT organizations to notable firms in local
          industries.

     o    The Company expanded the integrated Internet, voice and frame
          relay solution that it provides to National Paintball Supply, the
          world's largest paintball products distributor and a customer
          since 1996. The Company implemented a robust, broadband solution
          for National Paintball Supply, enabling live video streaming that
          allows web users to watch live coverage of paintball tournaments
          around the globe.

                                       7
OTHER DEVELOPMENTS

     Recapitalization Plan

     By early December  2001,  CoreComm  Limited  entered into  agreements  with
numerous holders of its 6% Convertible  Subordinated Notes due 2006, whereby the
holders  agreed,  among other things,  to exchange their notes for the amount of
the  October 1, 2001  interest  payment  of  approximately  $4.8  million in the
aggregate,  and shares of Holdco common stock as part of a  restructuring  plan.
The  exchange  was  completed  in December  2001,  including  the payment of the
approximately $4.8 million to such noteholders.

     In December 2001, both CoreComm Holdco and CoreComm Limited entered into an
exchange agreement with:

     (1)  Holders of 10.75% Unsecured  Convertible PIK Notes due 2011 and 10.75%
          Senior Unsecured  Convertible PIK Notes due 2010, both of which were a
          joint  obligation  of CoreComm  Limited and  CoreComm  Holdco,  in the
          initial   principal   amounts  of  $10  million  and  $16.1   million,
          respectively;

     (2)  Holders of Senior  Unsecured Notes due 2003 of CoreComm Limited in the
          principal amount of $105.7 million; and

     (3)  Holders of all of the preferred  stock of CoreComm,  with an aggregate
          liquidation value $300 million.

     The exchange  agreement provided for the security holders to exchange their
securities  for  shares  of  CoreComm   Holdco  common  stock  as  part  of  the
recapitalization.  In December 2001, the credit  agreement  governing the senior
secured facility was amended to permit the recapitalization to occur.

     By  December  28,  2001,  the  first  phase  of  the  recapitalization  was
completed.  As a result,  the only  material  asset of  CoreComm  Limited is its
current approximate 13% interest in CoreComm Holdco. Following the completion of
the  second  phase  of the  recapitalization,  CoreComm  Limited  will  become a
subsidiary  of  CoreComm  Holdco,  and  CoreComm  Limited  will have no material
assets.

     Management Changes

     The Company also  recently  announced  that it had named Thomas  Gravina as
President and Chief Executive Officer and named Michael A. Peterson as Executive
Vice President,  Chief Operating  Officer and Chief Financial  Officer.  Barclay
Knapp has become Chairman of the Board and George Blumenthal has become Chairman
Emeritus.  Gravina and  Peterson  have also joined  CoreComm  Holdco's  Board of
Directors. In addition, the Board of Directors of CoreComm Holdco has elected as
a director Ralph H. Booth II, who is the Chairman and Chief Executive Officer of
Booth American  Company.  Booth American Company made investments in the Company
in 2000 and 2001. Gregg N. Gorelick has been promoted to Senior Vice President -
Controller and

                                       8
Treasurer.  Alan  Patricof and Warren Potash will continue to serve on the Board
of Directors.

     Year End Audit

     As a result of the completion of the first phase of the recapitalization as
described  above,  currently the only material asset of CoreComm  Limited is its
approximate  13% interest in CoreComm  Holdco.  Following the  completion of the
second phase of the recapitalization,  CoreComm Limited will become a subsidiary
of CoreComm Holdco,  and CoreComm  Limited will have no material  assets.  Given
these and other  facts,  the  auditors of CoreComm  Limited will include a going
concern explanatory paragraph in their audit report for CoreComm Limited for the
year ended December 31, 2001.

     CoreComm  Holdco  expects to  receive a "clean"  opinion  from its  outside
auditors  and thus the audit  report of CoreComm  Holdco will not contain such a
going concern  paragraph as it is anticipated  that CoreComm Holdco will be able
to meet its  obligations  as they  become  due with cash on hand and funds  from
operations during 2002.

     Under the exchange offers,  those shareholders and noteholders who exchange
their current shares and notes of CoreComm Limited,  respectively,  will receive
shares of  CoreComm  Holdco,  and would no longer  have  securities  of CoreComm
Limited.

     Nasdaq Listing

     On February 14, 2002,  CoreComm Limited received written  notification from
Nasdaq indicating that CoreComm Limited failed to comply with the minimum market
value of publicly held shares and minimum bid price  requirements  for continued
listing on the Nasdaq  National Market and that it would have until May 15, 2002
to regain compliance.  If the restructuring  plan is not successfully  completed
and the Company does not regain  compliance by this date,  Nasdaq stated that it
will then provide the Company written notification that its common stock will be
delisted from the Nasdaq National  Market.  If CoreComm  Limited common stock is
delisted from the Nasdaq National  Market,  shares may trade in the Nasdaq Small
Cap Market or the  over-the-counter  market and price quotations may be reported
by other  sources.  The extent of the public  market for the shares of  CoreComm
Limited common stock and the  availability  of quotations for shares of CoreComm
Limited common stock would, however, depend upon the number of holders of shares
remaining at that time,  the interest in  maintaining  a market in shares of the
common  stock on the part of  securities  firms,  the  possible  termination  of
registration of the shares under the Securities  Exchange Act of 1934, and other
factors.

                                       9
FULL YEAR FINANCIAL RESULTS (2001 Unaudited)

                                                         Year Ended
                                                         December 31,
                                                  2001(1)         2000(2)
                                                 ---------       ---------
                                           (in thousands, except per share data)

Revenues                                         $ 293,207       $ 132,122

Costs and expenses:
Operating                                          224,807         142,323
Selling, general & administrative                   97,759         111,010
                                                 ---------       ---------
      EBITDA                                       (29,359)       (121,211)

Corporate                                            8,335          12,884
Non-cash compensation                               21,638          43,440
Other charges                                       39,514          12,706
Asset impairments                                  368,288          35,920
Depreciation and amortization                      145,499          73,166
                                                 ---------       ---------
     Operating (loss)                             (612,633)       (299,327)

Other income (expense):
Net interest and other                             (46,357)        (14,234)
Income tax provision                                   (98)           (250)
Extraordinary item                                  39,498              --
                                                 ---------       ---------
     Net (loss)                                  $(619,590)      $(313,811)
                                                 =========       =========

Basic and diluted net (loss) per share (3):
    (Loss) before extraordinary item             $   (6.77)      $   (6.73)
    Extraordinary item                                0.39              --
                                                 ---------       ---------
   Net (loss) per common share                   $   (6.38)      $   (6.73)
                                                 =========       =========

Weighted average shares                            100,669          47,480
                                                 =========       =========

(1)  We reduced the carrying value of fixed assets, goodwill and other
     intangibles by $368.3 million based on a review of the recoverability of
     goodwill and long-lived assets. As a result of the recapitalization plan,
     we recorded non-cash compensation expense of $8.7 million (which is
     included in the $21.6 million above) and recorded an extraordinary gain on
     the early extinguishment of debt of $25.7 million (which is included in the
     $39.5 million above.)

(2)  As a result of the completion of the acquisitions of ATX and Voyager in
     September 2000, we consolidated the results of operations of these
     businesses from the dates of acquisition.

(3)  After giving effect to the dividends and accretion on preferred stock of
     $22.4 million and $5.6 million in the years ended December 31, 2001 and
     2000, respectively.

                                   FOURTH QUARTER FINANCIAL RESULTS (Unaudited)

                                              For the Three Month Period Ended
                                                       December 31,
                                                 2001(1)         2000(2)
                                                ---------       ---------
                                          (in thousands, except per share data)

Revenues                                        $  72,720       $  75,503

Costs and expenses:
Operating                                          48,865          64,877
Selling, general & administrative                  21,912          38,966
                                                ---------       ---------
      EBITDA                                        1,943         (28,340)

Corporate                                           1,621           4,325
Non-cash compensation                              11,936           8,020
Other charges                                       2,119          11,931
Asset impairments                                 200,689          35,920
Depreciation and amortization                      35,455          43,860
                                                ---------       ---------
     Operating (loss)                            (249,877)       (132,396)

Other income (expense):
Net interest and other                            (12,961)         (8,276)
Income tax (provision) benefit                       (332)             71
Extraordinary item                                 37,282              --
                                                ---------       ---------
     Net (loss)                                 $(225,888)      $(140,601)
                                                =========       =========

Basic and diluted net (loss) per share (3):
    (Loss) before extraordinary item            $   (1.92)      $   (2.08)
    Extraordinary item                               0.27              --
                                                ---------       ---------
   Net (loss) per common share                  $   (1.65)      $   (2.08)
                                                =========       =========

Weighted average shares                           140,070          70,261
                                                =========       =========

(1)  We reduced the carrying value of fixed assets, goodwill and other
     intangibles by $200.7 million based on a review of the recoverability of
     goodwill and long-lived assets. As a result of the recapitalization plan,
     we recorded non-cash compensation expense of $8.7 million (which is
     included in the $11.9 million above) and recorded an extraordinary gain on
     the early extinguishment of debt of $25.7 million (which is include in the
     $37.3 million above.)

(2)  As a result of the completion of the acquisitions of ATX and Voyager in
     September 2000, we consolidated the results of operations of these
     businesses from the dates of acquisition.

(3)  After giving effect to the dividends and accretion on preferred stock of
     $5.7 million and $5.5 million in the three months ended December 31, 2001
     and 2000, respectively.
DISCUSSION OF FULL YEAR OPERATING RESULTS

Results Of Operations

     The first phase of the restructuring plan was completed on December
28, 2001. As a result of the completion of the first phase of the
restructuring plan, CoreComm Limited's only material asset is its ownership
of approximately 13% of the outstanding capital stock of CoreComm Holdco.
The operating results discussed here include CoreComm Holdco for all
periods. After December 28, 2001, CoreComm Limited accounts for all of
CoreComm Holdco's operations using the equity method. CoreComm Limited does
not have any significant operations of its own.

     As a result of the acquisitions of ATX and Voyager in September 2000,
CoreComm Limited consolidated the results of operations of these businesses
from the dates of acquisition.

     The increase in revenues to $293,207,000 from $132,122,000 is due to
acquisitions in 2000, which accounted for $166,737,000 of the increase.
This increase is offset by a decline in revenue attributed to the customer
base associated with the USN assets acquired in May 1999. The revenues from
the USN customer based peaked in the third quarter of 1999 after CoreComm
Limited's acquisition and, as expected, declined thereafter. USN
Communications, Inc. was a CLEC that operated on a resale basis. The
underlying operations, customer relationships and future revenue streams of
the resale CLEC business have declined since CoreComm Limited's
acquisition.

     Operating costs include direct cost of sales, network costs and
salaries and related expenses of network personnel. Operating costs
increased to $224,807,000 from $142,323,000 due to acquisitions in 2000,
which amounted to $111,878,000 of the increase. This increase is offset by
a decrease in costs of $29,394,000 in 2001 primarily as a result of the
implementation of CoreComm Limited's modified business plan as described
above.

     Selling, general and administrative expenses decreased to $97,759,000
from $111,010,000 primarily as a result of the implementation of CoreComm
Limited's modified business plan as described above. These expense
reductions amounted to $65,699,000 in 2001. This decrease is offset by an
increase due to acquisitions in 2000, which amounted to $52,448,000.

     Corporate expenses include the costs of CoreComm Limited's officers
and headquarters staff, the costs of operating the headquarters and costs
incurred for strategic planning and evaluation of business opportunities.
Corporate expenses decreased to $8,335,000 from $12,884,000 primarily as a
result of the implementation of CoreComm Limited's modified business plan
as described above.

     In  accordance  with APB Opinion No. 25,  "Accounting  for Stock  Issued to
Employees," in April 2000,  CoreComm  Limited  recorded a non-cash  compensation

                                       12
expense  of  approximately  $29.0  million  and a non-cash  deferred  expense of
approximately  $31.3 million due to the issuance of options to employees in 2000
at an exercise  price of $14.55  which was less than the fair value of Limited's
common stock on the date of the grant. From April 2000 to December 31, 2001, the
deferred non-cash  compensation was charged to expense,  including $21.6 million
and $9.7 million in the years ended  December  31, 2001 and 2000,  respectively.
Also in 2000,  non-cash  compensation  includes  $4.7 million  related to option
rescissions.

     Other charges in 2001 include reorganization charges of $37,372,000
and an adjustment to the reserve for notes receivable from former officers
of an acquired business of $2,142,000. The reorganization charges relate to
the Company's announcements in May and July 2001 that it was taking
additional actions to reorganize, re-size and reduce operating costs and
create greater efficiency in various areas of the Company. An aggregate of
$21,386,000 of these costs is for equipment and other assets that did not
and will not require any future cash outlays. Other charges in 2000 include
a reserve of $8,700,000 for notes receivable and reorganization charges of
$4,006,000.

     CoreComm Holdco performed a review of the recoverability of its
goodwill and long-lived assets, which indicated that the carrying value of
certain assets would not be recoverable. During 1999 and 2000, acquisitions
were made against a background of increasing consolidation and record
valuations in the telecommunications industry. CoreComm Holdco recorded
preliminary impairment charges of $201 million as a result of this
evaluation. This analysis has not been completed and these write-downs may
be adjusted prior to filing the CoreComm Limited Form 10-K for 2001. In
addition, at March 31, 2001, CoreComm Limited reduced the carrying amount
of goodwill related to the Voyager and MegsINet acquisitions by $168
million.

     The Company expects to file Securities and Exchange Commission Form
12b-25 that will result in extending the time to file the Form 10-K until
April 16, 2002. The Company will file the Form 10-K on or before April 16,
2002.

     Depreciation expense increased to $48,110,000 from $30,746,000
primarily as a result of an increase in fixed assets due to acquisitions in
2000.

     Amortization expense increased to $97,389,000 from $42,420,000 due to
the amortization of goodwill from the acquisitions in 2000.

     Interest income and other, net, decreased to $1,957,000 from
$6,223,000 primarily due to the reduction of interest income resulting from
lower cash balances in 2001.

     Interest expense increased to $48,314,000 from $20,457,000 primarily
due to increased borrowings in 2001 to fund CoreComm Limited's acquisitions
and operations.

                                       13
The income tax provision of $98,000 in 2001 and $250,000 in 2000 are
for state and local income tax.

     Extraordinary gains in 2001 of $39,498,000 relate to the completion of
the first phase of the recapitalization plan, as well as the successful
settlement of various equipment and working capital notes and capital
leases for less than the outstanding balance.

                                       ***

     The foregoing reference to the exchange offers shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of shares of common stock of CoreComm Holdco in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. Investors and
security holders are urged to read the following documents (including
amendments that may be made to them), regarding the exchange offers because
they contain important information:

     -    CoreComm Holdco's preliminary  prospectus,  prospectus supplements and
          final prospectus;

     -    CoreComm Holdco's registration  statement on Form S-4, containing such
          documents and other information; and

     -    CoreComm Holdco's Schedule TO.

     These documents and amendments and supplements to these documents have
been and will continue to be filed, as they may be amended and
supplemented, with the Securities and Exchange Commission. When these and
other documents are filed with the SEC, they may be obtained free at the
SEC's web site at www.sec.gov. You may also obtain for free each of these
documents (when available) from CoreComm Holdco by directing your request
to the number listed below.

     For further information regarding the exchange offers, including
obtaining additional copies of the exchange offer materials, we encourage
you to contact the information agent:

D.F. King & Co., Inc.
77 Water Street
New York, New York 10005
Banks and Brokers Call Collect: (212) 269-5550
All Others Call Toll Free: (800) 848-2998

                                       ***

                                       14
CoreComm provides integrated  telephone,  Internet and data services to business
and residential customers in several markets in the United States.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Certain statements  contained herein,  specifically  excluding references to the
exchange offers, constitute "forward-looking statements" as that term is defined
under the Private  Securities  Litigation  Reform Act of 1995. When used herein,
the words,  "believe,"  "anticipate,"  "plan,"  "will,"  "expects,"  "projects,"
"positioned,"  "strategy," and similar expressions identify such forward-looking
statements.  Such  forward-looking  statements  involve known and unknown risks,
uncertainties  and other factors that may cause the actual results,  performance
or achievements of the Company, or industry results, to be materially  different
from those contemplated,  projected,  forecasted, estimated or budgeted, whether
expressed or implied, by such forward-looking  statements.  Such factors include
the following:  the ability of the Company to continue as a going  concern,  the
continued  viability of the Company if the restructuring plan is not consummated
on a timely  basis,  the  ability  of the  Company  to obtain  trade  credit and
shipments and terms with vendors and service  providers for current orders;  the
Company's  ability to maintain  contracts  that are critical to its  operations;
potential  adverse  developments  with  respect to the  Company's  liquidity  or
results of  operations;  the ability to fund and execute its business  plan; the
ability to attract,  retain and compensate key  executives and  associates;  the
ability of the Company to attract and retain  customers;  general  economic  and
business  conditions,  technological  developments,  the  Company's  ability  to
continue  to design  networks,  install  facilities,  obtain  and  maintain  any
required  governmental  licenses  or  approvals  and  finance  construction  and
development,  all in a timely  manner at  reasonable  costs and on  satisfactory
terms and conditions,  as well as assumptions about customer  acceptance,  churn
rates,  overall market penetration and competition from providers of alternative
services, the impact of restructuring and integration actions, the impact of new
business opportunities requiring significant up-front investment,  interest rate
fluctuations  and  availability,  terms and  deployment of capital.  The Company
assumes no obligation to update the forward-looking  statements contained herein
to  reflect  actual  results,  changes  in  assumptions  or  changes  in factors
affecting such statements.

For further  information  please  contact:  Winston Black,  Director - Corporate
Development at (212) 906-8485.

                                     15