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Comcast Corporation and E! Networks Announce That Mindy S. Herman to Step Down From Top Post at E! Networks

Posted on: Thursday, 27 May 2004, 06:00 CDT

PHILADELPHIA and LOS ANGELES, May 27 /PRNewswire/ -- Comcast Corporation and E! Networks announced today that Mindy S. Herman has decided to leave her post as President and CEO. She has been asked by Comcast to assist in the transition and will remain in her position until later this year.

"Comcast has become one of the most respected media companies in our industry and I am honored that Brian Roberts gave me the opportunity to grow E! and the Style Network into two of the world's most recognizable entertainment and lifestyle brands," said Ms. Herman. "The Comcast executive team has been supremely supportive of our work, and now, with the solid team we have in place, I know that the networks will continue to flourish," Ms. Herman added.

"Mindy has done an excellent job during her four years as President and CEO of E!" said Brian L. Roberts, Chairman, President and CEO of Comcast. "During her tenure, she has developed and led a talented management team that has grown E!'s subscribers from 59 million to 85 million and style's subscribers from 7 million to an expected 40 million by the end of 2004, grown the network's revenues from just over $200 million to $350 million in 2003, and increased operating cash flow from $58 million to more than $160 million in 2003. Last year was E!'s most watched year ever. Mindy and her senior management team have created a great success story in the cable industry. I'm glad that Mindy has agreed to assist with the transition," Roberts added.

"This was not an easy decision for me and more than anything else, I will really miss the tremendously talented team of executives that I leave behind at E! and style," Ms. Herman said. "But we have accomplished essentially everything that we set out to do when I joined E! Networks in early 2000. This is a logical time for me to transition to the next phase of my career. And with the recent birth of my son, it is a once-in-a-lifetime opportunity for me to spend a little more time with my family and to pursue other entrepreneurial interests," added Herman.

Ms. Herman and her management team have shepherded tremendous growth at E! in terms of subscribers, revenues, cash flow, and viewership. Four of the five highest rated years in E!'s history were during Herman's tenure. E! has become the destination for awards show coverage with the network's highest rated Oscar (2000 and 2002), Grammies (2004), Golden Globes (2001) and Emmy coverage (2002). The network has also successfully delivered its advertisers one of the most desirable audiences in cable, ranking #3 among all ad- supported cable networks with affluent, educated, urban adults.

In 2002, E! underwent an elaborate rebranding initiative spanning all areas of the network - including on-air and online. Style has also been rebranded to set the stage for its expanded distribution numbers. In 2003, the E! International Network was launched, and it remains the world's only global 24/7 channel focused on the world of entertainment.

During Herman's tenure, E! Studios was created and E! shifted its focus to develop more with outside producers. In both 2003 and 2004, both E! and style successfully launched more series than at any time in their history.

Ms. Herman joined E! Networks in 2000 from In Demand L.L.C. as President and CEO. From 1990 through 1998, Ms. Herman held a number of executive positions with News Corporation, including Executive Vice President of FOX Television Studios. She also served on the board of directors of both Regency Television and Natural History New Zealand, as well as News Corp.'s global marketing committee. She joined FOX Television Studios after serving for two years as Executive Vice President, Business Operations, Tele-TV, a startup joint venture created to develop a 135-channel, all-digital television service.

Ms. Herman is the recipient of the 2002 Woman of Vision in Cable Award and serves on the CTAM Board of Directors. In 2003, she was honored by Girls Inc. as a strong role model for young women at the 9th Annual Celebration Luncheon. Most recently, she was honored with the Larry Stewart Leadership and Inspiration Award at the 8th annual Prism Awards.

A national search will be commenced to find a successor to Ms. Herman.

About Comcast:

Comcast Corporation (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.

About E! Networks:

Based in Los Angeles, E! Networks is the world's largest producer and distributor of entertainment news and lifestyle-related programming. The company operates E! Entertainment Television, the 24-hour network with programming dedicated to the world of entertainment; The Style Network where life gets a new look, and E! Online, located at http://www.eonline.com/. E! is currently available to 85 million cable and direct broadcast satellite subscribers in the U.S. Style currently counts 36 million subscribers with commitments to reach over 40 million in 2004. E! Online reaches 6 million monthly unique U.S. adult users. Internationally, E! programming can be seen in more than 120 countries worldwide, reaching 300 million homes. In addition to its ventures for locally programmed, E! branded channels outside the U.S., the company operates the E! International Network, a 24-hour English language global entertainment channel available via satellite in Europe, Asia Pacific and the Middle East.

Comcast Corporation

CONTACT: Sarah Goldstein, E! Networks, +1-323-692-4552, or D'ArcyRudnay, Comcast, +1-215-981-8582

Web site: http://www.eonline.com/

Web site: http://www.comcast.com/

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