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Investor

Comcast Directors Re-Elected, Company-Sponsored Proposals Adopted Overwhelmingly at 2004 Annual Meeting

Philadelphia, PA.

Roberts Becomes Chairman of Comcast Board of Directors

Comcast Corporation today announced preliminary results from the company's 2004 annual meeting of shareholders in which all board members were re-elected overwhelmingly, each receiving more than 92% of the vote; all company-sponsored proposals were adopted overwhelmingly, with more than 96% of the vote; and all shareholder proposals were defeated. The meeting was held this morning at the Wachovia Center in Philadelphia.

Comcast President and CEO Brian L. Roberts said, "Comcast is well positioned for the future with an unparalleled distribution platform, a strong balance sheet, and bright growth opportunities. Today's shareholder vote is a gratifying confirmation of our strategy for future growth. I have never been more excited about Comcast's business and prospects."

Comcast also announced Roberts has become chairman of the company's board of directors, following C. Michael Armstrong's election to retire as non- executive chairman.

"I'd like to thank Mike for his guidance and advice during our complex integration over the last eighteen months," Roberts said. "The success of this integration has exceeded even my most optimistic projections. Our company has benefited from Mike's experience and strategic insight."

Roberts, 44, has served as president of Comcast since 1990. Armstrong became chairman of the board upon Comcast's acquisition of AT&T Broadband in November of 2002. With Armstrong's retirement, Roberts became chairman of the board under the company's articles of incorporation. This provision was put into place at the time of the AT&T Broadband acquisition as part of a governance structure that would provide for stability and be in the best interest of shareholders. Armstrong, 66, who remains a member of the Comcast board, has elected to serve as a consultant to Comcast as permitted under the terms of his employment agreement.

About Comcast:

Comcast Corporation (Nasdaq: CMCSA, CMCSK) (http://www.comcast.com) is principally involved in the development, management and operation of broadband cable networks and programming content. The Company is the largest cable company in the United States, serving more than 21 million cable subscribers. The Company's content businesses include majority ownership of Comcast Spectacor, Comcast SportsNet, E! Entertainment Television, Style Network, The Golf Channel, Outdoor Life Network and G4. Comcast Class A common stock and Class A Special common stock trade on The NASDAQ Stock Market under the symbols CMCSA and CMCSK, respectively.

 

2004 Preliminary Proxy Voting Results Comcast Corporation Wednesday, May 26, 2004

Comcast Proposals:

Comcast Proposal One: Election of Directors.

  1. Brian L. Roberts received approximately 94.7% support of the votes cast.
  2. Ralph Roberts received approximately 95.6% support of the votes cast.
  3. C. Michael Armstrong received approximately 95.4% support of the votes cast.
  4. Julian A. Brodsky received approximately 95.6% support of the votes cast.
  5. S. Decker Anstrom received approximately 92.1% support of the votes cast.
  6. Kenneth J. Bacon received approximately 97.4% support of the votes cast.
  7. Sheldon M. Bonovitz received approximately 94.9% support of the votes cast.
  8. Joseph L. Castle II received approximately 96.5% support of the votes cast.
  9. J. Michael Cook received approximately 97.3% support of the votes cast.
  10. Dr. Judith Rodin received approximately 96.3% support of the votes cast.
  11. Michael I. Sovern received approximately 96.5% support of the votes cast.

Comcast Proposal Two: Ratification of the Appointment of Independent Auditors. This proposal passed with approximately 98.6% of the votes cast.

Comcast Proposal Three: Approval of the 2002 Restricted Stock Plan. This proposal passed with approximately 96.5% of the votes cast.

Comcast Proposal Four: Approval of an Amendment to the Company's Articles of Incorporation. This proposal passed with approximately 96.2% of the votes cast.

Shareholder Proposals:

Shareholder Proposal Five: To Have Independent Directors Constitute Two- Thirds of the Board. This proposal was defeated by approximately 74.9% of the votes cast.

Shareholder Proposal Six: To Disclose Political Contributions. This proposal was defeated by approximately 95.4% of the votes cast.

Shareholder Proposal Seven: To Nominate Two Directors for Every Open Directorship. This proposal was defeated by approximately 93.9% of the votes cast.

Shareholder Proposal Eight: To Limit Compensation to Senior Executives. This proposal was defeated by approximately 94.9% of the votes cast.

Shareholder Proposal Nine: To Adopt a Recapitalization Plan. This proposal was defeated by approximately 69.0% of the votes cast.

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