Return Date: August 14, 1996 Time: 11:00 a.m. UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF NEW YORK - ---------------------------------------X Chapter 11 Case Nos. 195 10690 260 In re : 195 10693 260 SPECTRUM INFORMATION : TECHNOLOGIES, INC., and SPECTRUM : CELLULAR CORPORATION (Substantively Consolidated), : Debtors. : - ---------------------------------------X NOTICE RESPECTING AMENDMENT OF THIRD AMENDED PLAN OF REORGANIZATION --------------------------------------- PLEASE TAKE NOTICE that in accordance with sections VII(B) and XII(A) of the third amended consolidated plan of reorganization (the "Plan") proposed by Spectrum Information Technologies, Inc. ("Spectrum") and Spectrum Cellular Corporation ("Cellular," and collectively with Spectrum, the "Debtors") the Debtors will seek confirmation of the Plan with the following modifications: 1. Section VII(A)(2) is amended to make entry of a final order of the District Court granting the Class Action Settlement Motion (as defined in the Plan) a condition precedent to consummation of the Plan, rather than a condition precedent to confirmation of the Plan. 2. Section VII(A)(3) is modified so that to the extent that it makes entry of a final order in the Home Action Litigation a condition precedent to confirmation, such condition is waived. Dated: New York, New York August 8, 1996 CLEARY, GOTTLIEB, STEEN & HAMILTON By /s/ George Weisz ------------------------ George Weisz (GW-7120) A Member of the Firm One Liberty Plaza New York, New York 10006 (212) 225-2000 Attorneys for Debtors and Debtors in Possession Spectrum Information Technologies, Inc. et al. -- --- 2