Comcast Corporation and QVC, Inc. Increase Stake In Global Sports, Inc.

Business Editors

KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--July 23, 2001

   Companies Agree To Purchase Four Million Shares At $10 Per Share

 Global Sports Expects To Exceed Analysts' Consensus Expectations For
                  The Second Quarter of Fiscal 2001

GLOBAL SPORTS, INC.(NASDAQ:GSPT) announced today that COMCAST CORPORATION (NASDAQ:CMCSK and CMCSA) and QVC, INC., through a joint venture company, have agreed to increase their stake in Global Sports by purchasing an aggregate of 4,000,000 common shares, including 3,000,000 new shares from the company and 1,000,000 shares from the company's chairman, president and CEO, Michael Rubin, at a price of $10.00 per share. Following the close of the transaction, the Comcast and QVC venture will own 9,000,000 shares of Global Sports, Inc., which will represent approximately 25.8 percent of the outstanding shares, investment funds affiliated with SOFTBANK Holdings, Inc., will own 8,653,850 shares of Global Sports, Inc., which will represent approximately 24.8 percent of the outstanding shares, and Michael Rubin will own 7,067,096 shares of Global Sports, Inc., which will represent approximately 20.2 percent of the outstanding shares. The transactions are subject to certain customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

Global Sports also announced that it expects to exceed the average of analysts' consensus expectations for the second quarter of 2001, including greater than expected sales and a smaller than expected pro forma net loss. The company also indicated that cash, cash equivalents and short term investments at the end of the second quarter of 2001 were $63.6 million. Including the $30 million to be received in conjunction with the sale of 3,000,000 new shares to the Comcast and QVC venture, the company's pro forma cash position at the end of the second quarter would have been $93.6 million. Pro forma net loss excludes all non-cash charges, including stock-based compensation and depreciation and amortization expenses.

Doug Briggs, president of QVC, Inc. said, "Global Sports has exceeded our expectations since we acquired our initial position in September, 2000. Their leadership position in online sporting goods retailing and their broader expertise in enabling e-commerce are strategic to Comcast and QVC. It was important to Comcast and QVC to be able to increase our joint venture's ownership stake in Global Sports in order to assist them as they leverage their capabilities to pursue new growth opportunities. We are pleased to have the opportunity to purchase additional shares at what we believe is a compelling valuation."

Michael Rubin, said, "Comcast and QVC have been outstanding strategic shareholders of Global Sports providing operational support and a valued long-term commitment to the company. As a larger stakeholder through its joint venture, we believe Comcast and QVC will be better positioned to leverage their assets and capabilities to help drive growth opportunities for Global Sports. I am confident in the prospects of the company including our continuing expectation to achieve pro forma profitability in the fourth quarter of 2001 and pro forma profitability on a full year basis in 2002. With this investment, we now expect to end 2001 with approximately $100 million in cash."

About Comcast Corporation

Comcast Corporation (www.comcast.com) is principally involved in the development, management and operation of broadband cable networks, and in the provision of electronic commerce and programming content. Comcast Cable is the third largest cable company in the United States serving more than 8.4 million subscribers. Comcast's commerce and content businesses include majority ownership of QVC, Comcast-Spectacor, Comcast SportsNet, and The Golf Channel, a controlling interest in E! Networks, and other programming investments. Comcast's Class A Special and Class A Common Stock are traded on The Nasdaq Stock Market under the symbols CMCSK and CMCSA, respectively.

About QVC, Inc.

QVC, Inc., a $3.7 billion company, is an e-commerce leader, marketing a wide variety of brand name products in such categories as home furnishing, licensed products, fashion, beauty, electronics and fine jewelry. QVC reaches over 80 million homes in the United States. Other divisions/subsidiaries include QVC.com, Q Direct, QVC Publishing, Q Records, QVC Local, QVC ProductWorks and Pioneer Studios. The QVC Studio Tour is located at the company's world headquarters in West Chester, PA.

About Global Sports

Global Sports, Inc. (NASDAQ:GSPT) (www.globalsports.com) is a leading developer and operator of e-commerce sporting goods businesses.

Forward-Looking Statements

All statements made in this release, other than statements of historical fact, are forward-looking statements. The words "anticipate", "believe", "estimate", "expect", "intend", "will", "guidance", and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of Global Sports and the industry and markets in which the company operates. Those statements are not guarantees of future performance and involve risks, uncertainties and assumptions which will be difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by those forward-looking statements. Factors which may affect Global Sports' business, financial condition and operating results include the effects of changes in the economy, the stock market and the sporting goods industry generally, changes affecting the Internet and e-commerce, the ability of the company to maintain relationships with strategic partners and suppliers, the ability of the company to timely and successfully develop, maintain and protect its technology and product and service offerings and execute operationally, the ability of the company to attract and retain qualified personnel and the ability of the company to successfully integrate its recent acquisition of Fogdog, Inc. More information about potential factors that could affect Global Sports can be found in its most recent Form 10-Q and other reports and statements filed by Global Sports with the Securities and Exchange Commission. Global Sports expressly disclaims any intent or obligation to update those forward-looking statements except as otherwise specifically stated by Global Sports.