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COMCAST ANNOUNCES OFFERING OF $300 MILLION 10-5/8 PERCENT SENIOR SUBORDINATED DEBENTURES DUE JULY 15, 2012

 COMCAST ANNOUNCES OFFERING OF $300 MILLION 10-5/8 PERCENT SENIOR
 SUBORDINATED DEBENTURES DUE JULY 15, 2012
 PHILADELPHIA, July 8 /PRNewswire/ -- Comcast Corporation (NASDAQ-NMS: CMCSA, CMCSK) today announced the offering of $300 million of 10-5/8 percent Senior Subordinated Debentures due July 15, 2012.
 Interest on the debentures is payable on July 15 and Jan. 15 of each year, commencing Jan. 15, 1993. The debentures may not be redeemed by Comcast Corporation prior to their stated maturity. The debentures were underwritten by Merrill Lynch & Co.
 Proceeds from the offering will be used for working capital and general corporate purposes. A portion of the proceeds may be utilized in connection with the planned recapitalization of Storer Communications, Inc., which has been previously announced.
 Comcast Corporation is principally engaged in the development and operation of cable television and cellular communications systems. The company's consolidated and affiliated cable operations served more than 2.8 million subscribers at March 31, 1992. This included more than 830,000 subscribers representing 50 percent of the total subscribers served by Storer Communications, Inc.
 Comcast also provides cellular telephone services in the Northeast United States to markets encompassing a population in excess of 7.3 million. In addition, Comcast is engaged in the sale and installation of sound communications systems, owning the largest independent network of background music systems operating under the Muzak name.
 The Class A and Class A Special common stock of Comcast Corporation are traded in the Over-the-Counter market and are reported in the National Market List under the NASDAQ symbols CMCSA and CMCSK, respectively.
 /delval/
 -0- 7/8/92
 /CONTACT: John R. Alchin, 215-981-7503, or Marolyn L. Bailey, 215-981-7550, both of Comcast/
 (CMCS) CO: Comcast Corporation ST: Pennsylvania IN: TLS SU: OFR


LJ-MP -- PH005 -- 7330 07/08/92 10:08 EDT
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Publication:PR Newswire
Date:Jul 8, 1992
Words:296
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