FOR IMMEDIATE RELEASE
COMCAST TO ACQUIRE CALPERS' INTEREST IN JOINTLY OWNED CABLE PROPERTIES

Philadelphia, PA - December 23, 1999... Comcast Corporation today announced that
it has entered into a definitive agreement to acquire the 45% ownership interest
in cable operator Comcast MHCP Holdings, L.L.C. currently held by the California
Public Employees' Retirement System ("CalPERS"). The purchase price for CalPERS'
ownership  stake is $750  million in cash.  Comcast  MHCP  served  approximately
642,000 cable subscribers as of September 30, 1999 across parts of Michigan, New
Jersey and Florida. The company was formed in December 1994 by Comcast (55%) and
CalPERS  (45%) in order to purchase the  domestic  cable  operations  of Maclean
Hunter  Limited and has been managed by Comcast since that time.  The redemption
by an affiliate of Comcast will leave Comcast with 100% ownership of the entity.
Closing of the transaction is subject to customary  conditions including receipt
of applicable regulatory approvals.  Closing is expected in the first quarter of
2000.

Comcast Corporation  (www.comcast.com  [http://www.comcast.com] ) is principally
involved  in the  development,  management  and  operation  of  broadband  cable
networks and the provision of programming  content,  through principal ownership
of QVC,  Comcast-Spectacor  and Comcast SportsNet,  a controlling interest in E!
Entertainment Television and through other programming investments.

Comcast's  Class A Special  Common  Stock and Class A Common Stock are traded on
the Nasdaq Stock Market under the symbols CMCSK and CMCSA, respectively.

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