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Comcast to Acquire General Electric’s 49% Common Equity Ownership Interest in NBCUniversal

  Comcast to Acquire General Electric’s49% Common Equity Ownership Interest
  in NBCUniversal

Business Wire

PHILADELPHIA -- February 12, 2013

Comcast Corporation (Nasdaq: CMCSA, CMCSK) announced today it will acquire
GE’s entire 49% common equity stake in the NBCUniversal joint venture for
approximately $16.7 billion. Also, NBCUniversal will purchase from GE the
properties used by NBCUniversal at30 Rockefeller Plaza and CNBC’s
headquarters in Englewood Cliffs, NJ for approximately $1.4 billion. The
acquisition accelerates GE's divestiture ahead of a redemption period that
would have begun in July 2014 and solidifies Comcast’s position as a leading
media and technology company. The transaction is subject to customary closing
conditions and is expected to close by the end of the first quarter of this
year.

“This is an exciting day for Comcast as we have agreed to accelerate the
purchase of NBCUniversal. The management team at GE has been a wonderful
partner during the past two years and their support has been very valuable.
Our decision to acquire GE's ownership is driven by our sense of optimism for
the future prospects of NBCUniversal and our desire to capture future value
that we hope to create for our shareholders,” said Brian L. Roberts, Chairman
and CEO, Comcast Corporation. “We believe the terms of the transaction are
attractive and have planned for this event by taking a number of financial
steps to prepare our balance sheet. We believe we are in a strong and unique
position to continue to grow and build value in our combined company.”

The transactions will be funded with $11.4 billion of cash on hand, $4.0
billion of subsidiary senior unsecured notes to be issued to GE, $2.0 billion
of borrowings under Comcast and/or subsidiary bank credit facilities and $725
million of subsidiary preferred stock to be issued to GE.

Morgan Stanley was financial advisor to Comcast and Davis Polk & Wardwell LLP
was the Company’s legal advisor.

AboutComcast Corporation

Comcast Corporation(Nasdaq: CMCSA, CMCSK) is a global media and technology
company with two primary businesses, Comcast Cable and NBCUniversal. Comcast
Cable is the nation's largest video, high-speed Internet and phone provider to
residential customers under the XFINITY brand and also provides these services
to businesses. NBCUniversal operates 30 news and entertainment cable networks,
theNBCandTelemundobroadcast networks, television production operations,
television station groups,Universal PicturesandUniversal Parks and Resorts.
Visit www.comcastcorporation.comfor more information.

Contact:

Comcast Corporation
Investor Contacts:
Marlene S. Dooner, 215-286-7392
Jane B. Kearns, 215-286-4794
Press Contacts:
D’Arcy Rudnay, 215-286-8582
Jennifer Khoury, 215-286-7408
John Demming, 215-286-8011