1. Merrill Lynch
U.S. Media Conference
June 5, 2008
Marlene Dooner
Senior Vice President
Investor Relations 1

2. Safe Harbor
Caution Concerning Forward-Looking Statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. In some cases, you can identify those so-called “forward-looking statements” by words
such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,”
“potential,” or “continue,” or the negative of those words and other comparable words. We wish to take
advantage of the “safe harbor” provided for by the Private Securities Litigation Reform Act of 1995 and we
caution you that actual events or results may differ materially from the expectations we express in our forward-
looking statements as a result of various risks and uncertainties, many of which are beyond our control.
Factors that could cause our actual results to differ materially from these forward-looking statements include:
(1) changes in the competitive environment, (2) changes in business and economic conditions, (3) changes in
our programming costs, (4) changes in laws and regulations, (5) changes in technology, (6) adverse decisions
in litigation matters, (7) risks associated with acquisitions and other strategic transactions, (8) changes in
assumptions underlying our critical accounting policies, and (9) other risks described from time to time in
reports and other documents we file with the Securities and Exchange Commission. We undertake no
obligation to update any forward-looking statements. The amount and timing of share repurchases and
dividends is subject to business, economic and other relevant factors.
Non-GAAP Financial Measures
Our presentation may also contain non-GAAP financial measures, as defined in Regulation G, adopted by the
SEC. We provide a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP
financial measure in our quarterly earnings releases, which can be found on the Financial Information page of
our web site at www.cmcsa.com or www.cmcsk.com.
2

3. Our Focus: Profitable Growth to Drive
Shareholder Value
• Solid financial performance in a
challenging environment
• Strong competitive position
• Diversified revenue streams
• Three products delivered in scale: 44MM Homes
• Core products offer long runway for growth
• Commitment to enhancing shareholder
value
• Significant stock buyback
• New quarterly dividend
3

4. A More Challenging Environment:
Slowing Economy + Increasing Competition
HSD Net Adds and Y/Y Percentage Change*
Video Net Adds and Y/Y Percentage Change*
(in thousands) (in thousands)
Prior Year Quarter
Prior Year Quarter
846
846 2,391
774 709
2,230
2,230
678 1,953
540
481 1,845
538
1,613
423
1,700
322
1,563
1,317 1,306
1Q07 2Q07 3Q07 4Q07 1Q08 1Q07 2Q07 3Q07 4Q07 1Q08
Q vs. Q 25% -40% -22% -38% -16% -7% -18% -20% -29% -24%
Change
4
* Video Net Adds Include: CVC, TWC, CHTR, CMCSA, DTV, DISH, VZ FiOS and T U-Verse
HSD Net Adds Include: T, TWC, CMCSA, CVC, VZ and CHTR

5. Comcast Responded and is Well-Positioned
• Triple Play remains core marketing message
• Expanding product offers to address changing
environment:
– New Double Play and Economy Offers
• Target new customers
• Provide choices for retention and upgrades
• Respond in competitive markets
– Strong early results
• Investing for future success
– Recapture Analog bandwidth: 20% All Digital by YE08
– Deploy Wideband (DOCSIS 3.0): 20% by YEO8
5

6. Multiple Services Drive Growth
Revenue by Product and Total Average Revenue per Basic Subscriber
$107
ARPU
$62
ARPU
$42
ARPU
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 1Q08
Basic Video Digital Advertising HSD Phone Business Services
6
Note: Graph includes ARPU from circuit-switched phone acquired from AT&T Broadband.

7. A Superior Video Product
Digital Services Sustain Competitive Advantage
Pro Forma Video Customer Mix
Average Advanced
Revenue/Customer
24.9 25.0 24.7 ~$80
Average Video
Revenue/Customer
$63
1Q06 1Q07 1Q08
7
Digital Tier
Adv. Digital
Digital Starter Basic Service Only

8. A Superior Video Product
More than 7 Billion Mar 2008:
307 Million
ON DEMAND views Dec 2007:
Views
300 Million
since 2004 Views
Dec 2006:
180 Million
Views
Dec 2005:
140 Million
Views
Dec 2004:
75 Million
Views
1,700 3,500 9,000 10,000+ 10,000+
Programs Programs Programs Programs Programs
8

9. A Superior Video Product
• 6.9MM HD/DVR customers = 28% of video customers
43% of digital customers
• Today: more than 500 HD choices
• 1,000 HD choices by YE2008
• Next: 3,000 HD movies on demand
• Project Infinity: more content from more providers – the
most on demand content anywhere
9

10. A Superior Broadband Experience
Total High-Speed Internet Subscribers and Penetrations
(subscribers in millions)
Penetration
% gross HSD additions from DSL
Attracting
More DSL
68% Customers
55%
14.1
38%
14 12.4
12 10.4
10 28%
8 26%
6 22%
4
2
1Q06 1Q07 1Q08
1Q06 1Q07 1Q08
10
Source of DSL conversion: ComScore

11. Comcast Digital Voice:
More Growth Ahead
Ramping CDV Subscribers
(in thousands)
11.5% 12.0%
5,200
4,950
10.3%
CDV Penetration*
4,700
5,088
4,450
9.3% 10.0%
4,449
4,200
• 44MM Marketable Homes
3,950
8.1%
3,700
3,831
3,450 8.0%
6.8%
• Goal: 20-25% penetration
3,200
2,950
3,150
5.6%
2,700
6.0%
2,450
4.4% 2,459
2,200
1,950
1,700 4.0%
1,872
3.1%
2.5%
1,450
1,357
1,200
950
2.0%
871
700
450
542
200
-50 0.0%
1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08
2006 2007 1Q08
4th Largest Residential Phone Company: 5.1MM Customers
11

12. Cable Advertising
• Continued softness in Advertising market
- Key categories (automotive) and geographies
- Extra broadcast week and political contributed to
1Q08 reported growth
• Beginning to invest in interactive advertising
opportunity
- Establishing industry-wide effort
- Unique 2-way platform and scale
- Increase cable’s share of ~$300Bn Ad market
12

13. Business Services
• 5MM SMB in our footprint
• $12-15Bn Spend
• Capture 20% of SMB Market by 2011
13

14. Disciplined Financial Strategy
• Investing for growth and differentiation
• Focused investment and acquisition strategy
Cable Content Internet Wireless
• Returning capital directly to shareholders
• Maintaining strong investment grade rating
14

15. Disciplined Capital Investment
Cable Capex (2007-2008)
5-10%
• CPE Drivers:
• HD/DVR
25-30%
• CDV
65-70%
• Attractive Returns
Growth
Maintenance
Discretionary
2008 Consolidated Capex: 18% of Revenue
Down from 20% in 2007
15
* Discretionary includes investments that lay the groundwork for future products and services, such as our
investments in interactive advertising, cross-platform product development or switched digital video.

16. Continuing Commitment to Return
Capital to Shareholders
132% FCF
$3.1Bn
127% FCF Share Repurchases*
90% FCF Quarterly Dividend
$2.5Bn
$2.3Bn
$185MM
$1.0Bn
FY2007 YTD08
FY2005 FY2006
Cumulative $16.4Bn** Returned 2005 thru 2009
* Includes the repurchase of $700MM of securities exchangeable into Comcast common stock in 2005 and 2006. 16
** Includes actual Comcast share repurchases and repurchases of exchangeable securities described above through 2007 as well as the
intention to complete approximately $7 billion of share repurchases by 2009 and pay an annual dividend of $0.25 in 2008 and 2009.

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