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Non-Tech : Comcast Corporation (CMCSA)

CMCSA 27.42

-1.9%

3:41 PM EST

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To: Grant Froese of Calgary who wrote (7)	6/11/1997 9:42:00 AM
From: nick haines	of 189

Grant: did you here from Roberts that they are going to use the $500 million to pay down debt? my impression from the analysts i have talked with is that all the $1 billion will be used for capex to continue to upgrade the systems. Comcast has a reasonable debt levels currently and I think they are content with their capital structure going forward. as far as equipment suppliers go, I own Scientific Atlanta which has also gotten a big boost from the announcement since Comcast is their third largest customer. however, I would not advise you to buy either Company at the current valuation levels because they are fairly if not over priced currently (actually thinking about getting out of SFA). Although I havent looked at it in a while, there is a company called Harmonic Lightwaves ticker:HLIT which went public a couple of years ago which was really down in the dumps and a good buy early this year. I havent looked at it recently but I suspect it too jumped on the news. As a general rule, I like - from a buying perspective - out of favor industries and cable is defintely hot right now so i dont know how much more buying at this point I will do. hope that helps nick

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