1166691--2/22/2006--COMCAST

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All of the services offered by our cable systems face a wide range of competition that could adversely affect our future results of operations. Programming costs are increasing, which could adversely affect our future results of operations. We are subject to regulation by federal, state and local governments, which may impose costs and restrictions. We may face increased competition because of technological advances and new regulatory requirements, which could adversely affect our future results of operations. We face risks arising from the outcome of various litigation matters, including litigation associated with the Broadband acquisition. Acquisitions and other strategic transactions present many risks, and we may not realize the financial and strategic goals that were contemplated at the time of any transaction. Our Chairman and CEO has considerable influence over our operations.

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1166691--2/22/2006--COMCAST_CORP