First, ADSL uses 1 pair, as does a 1MB (POTS). ADSL is usually piggybacked on an existing 1MB, using a higher frequency signal than analog telephone service uses (1.2MHz fr the former and 3.4 kHz for the latter).
If you split the signal early, you can certainly allow them to use the same CAT5 cable, as there is not a concern with interference. In fact, on a single 4 pair cable (CAT5, CAT5e, CAT6, CAT3, or whatever) you can carry 2 ADSL and 2 1MB.
I am guessing that the desired result here is to split the signal early, so that you don't have to filter every telephone in your house.
-Brian-
Semper Paratus