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OFFERING OF $250 MILLION COMCAST CORPORATION 3-3/8 PERCENT/5-1/2 PERCENT STEP-UP CONVERTIBLE SUBORDINATED DEBENTURES DUE 2005 ANNOUNCED

 PHILADELPHIA, Sept. 1 /PRNewswire/ -- Comcast Corporation (NASDAQ-NMS: CMCSA, CMCSK) announced today the offering of $250 million of 3-3/8 percent/5-1/2 percent Step-Up Convertible Subordinated Debentures Due 2005 (Step-Up Income Redeemable Equity Notes(TM) -- "SIRENs"(TM)).
 The SIRENs will bear interest at 3-3/8 percent per annum from the date of issuance until Sept. 9, 1997, and 5-1/2 percent per annum thereafter until maturity or earlier redemption. The SIRENs may be converted into shares of Class A Special common stock at the option of the holder at any time at a conversion price of $36.75. The SIRENs are redeemable, in whole or in part, on or after Sept. 9, 1997.
 The First Boston Corporation is the sole underwriter of the SIRENs offering. Comcast has also granted The First Boston Corporation an over-allotment option to purchase up to an additional $25 million of SIRENs.
 Comcast will use proceeds from the offering as working capital and for general corporate purposes.
 Comcast Corporation is principally engaged in the development, management and operation of cable communications networks. The company's consolidated and affiliated operations served approximately 2.9 million cable subscribers at June 30, 1993. The company provides cellular telephone services in the Northeast United States to markets encompassing a population in excess of 7.4 million. Comcast also has investments in cable programming, telecommunications systems and international cable and telephony franchises.
 The Class A and Class A Special common stock are traded in the Over-The-Counter market and reported in the National Market System under the NASDAQ symbols CMCSA and CMCSK, respectively.
 /delval/
 -0- 9/1/93
 /CONTACT: John R. Alchin, 215-981-7503, or William E. Dordelman, 215-981-7550, both of Comcast/
 (CMCS)


CO: Comcast Corporation ST: Pennsylvania IN: ENT TLS SU: OFR

JM-LJ -- PH012 -- 7927 09/01/93 11:34 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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