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COMCAST INTERNATIONAL ANNOUNCES SINGAPORE TELECOM INTERNATIONAL INVESTMENT IN CAMBRIDGE, UNITED KINGDOM

 COMCAST INTERNATIONAL ANNOUNCES SINGAPORE TELECOM INTERNATIONAL
 INVESTMENT IN CAMBRIDGE, UNITED KINGDOM
 PHILADELPHIA, June 2 /PRNewswire/ -- Comcast Corporation (NASDAQ-NMS: CMCSA, CMCSK), announced today that it has entered into an agreement for Singapore Telecom International to become an equal shareholder with Comcast in the cable system serving Cambridge, U.K., through the acquisition of shares in a newly formed subsidiary.
 The remaining shares are owned by local interests. The Independent Television Commission and the Department of Trade and Industry have approved the transaction.
 The Cambridge system serves a market encompassing 132,000 homes and 7,000 businesses. Construction of the system, which currently provides cable television and telephony services, over a state-of-the-art fiber optic network, commenced in late 1991.
 Ralph J. Roberts, chairman of Comcast, stated, "Comcast is enthusiastic about developing the United Kingdom market for cable television and customized telephone services. Our partnership with Singapore Telecom represents an exciting opportunity to combine the rapidly developing technologies of video, voice and data transmission."
 Sung Sio Ma, chairman of Singapore Telecom International, said: "Singapore Telecom has had a track record in the early application of technology and the provision of innovative telecommunications services that meets the needs of our customers. STI will lend our expertise in advanced telecommunications technology, network management, customer service and billing to this joint venture. By installing fiber optic cables to every neighborhood we will be able to operate broadband services, which include high-speed transmission of voice, data and video. This will move us one step closer to our vision of the future -- the provision of multi-media services."
 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.
 With the completion of the acquisition of Metrophone, the company now provides cellular telephone services in the Northeast United States to contiguous markets encompassing a population in excess of 7.3 million. In addition, Comcast is also engaged in the sale and installation of sound communications systems, owning the largest independent network of background music systems, operating under the Muzak(R) name.
 The Class A and Class A Special common stock are traded in the over- the-counter market and are reported in the National Market List under the NASDAQ symbols CMCSA and CMCSK, respectively.
 The Singapore Telecom is the public telecommunications operator in Singapore. It is a wholly government-owned company. Its operating revenue for fiscal year ended 1991 amounted to S$2.2 billion ($1.33 billion).
 /delval/
 -0- 6/2/92
 /CONTACT: Marolyn L. Bailey, 215-981-7550; Eric Tveter, 011-44-2231-464-201; or Allen Lew, 65-730-3277, all of Comcast/
 (CMCS) CO: Comcast International holdings, Inc.; Comcast Corporation;
 Singapore Telecom International ST: Pennsylvania IN: TLS SU: JVN


JS-CC -- PH017 -- 6317 06/02/92 15:25 EDT
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Publication:PR Newswire
Date:Jun 2, 1992
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