COMCAST CORP
S-3, EX-25.1, 2001-01-19
CABLE & OTHER PAY TELEVISION SERVICES
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                                    FORM T-1

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                            STATEMENT OF ELIGIBILITY
                   UNDER THE TRUST INDENTURE ACT OF 1939 OF A
                    CORPORATION DESIGNATED TO ACT AS TRUSTEE

                      CHECK IF AN APPLICATION TO DETERMINE
                      ELIGIBILITY OF A TRUSTEE PURSUANT TO
                             SECTION 305(b)(2) |__|



                              THE BANK OF NEW YORK
              (Exact name of trustee as specified in its charter)

New York                                                  13-5160382
(State of incorporation                                   (I.R.S. employer
if not a U.S. national bank)                              identification no.)

One Wall Street, New York, N.Y.                           10286
(Address of principal executive offices)                  (Zip code)



                              COMCAST CORPORATION
              (Exact name of obligor as specified in its charter)


Pennsylvania                                              23-1709202
(State or other jurisdiction of                           (I.R.S. employer
incorporation or organization)                            identification
no.)

1500 Market Street
Philadelphia, Pennsylvania                                19102-2148
(Address of principal executive offices)                  (Zip code)

                                 -------------

                             Senior Debt Securities
                      (Title of the indenture securities)

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<PAGE>


1.   General information. Furnish the following information as to the Trustee:

     (a)  Name and address of each examining or supervising authority to which
          it is subject.

--------------------------------------------------------------------------------
                  Name                                        Address
--------------------------------------------------------------------------------

     Superintendent of Banks of the State     2 Rector Street, New York,
     of New York                              N.Y. 10006, and Albany, N.Y. 12203

     Federal Reserve Bank of New York         33 Liberty Plaza, New York,
                                              N.Y. 10045

     Federal Deposit Insurance Corporation    Washington, D.C. 20429

     New York Clearing House Association      New York, New York  10005

     (b)  Whether it is authorized to exercise corporate trust powers.

     Yes.

2.   Affiliations with Obligor.

     If the obligor is an affiliate of the trustee, describe each such
     affiliation.

     None.

16.  List of Exhibits.

     Exhibits identified in parentheses below, on file with the Commission, are
     incorporated herein by reference as an exhibit hereto, pursuant to Rule
     7a-29 under the Trust Indenture Act of 1939 (the "Act") and 17 C.F.R.
     229.10(d).

     1.   A copy of the Organization Certificate of The Bank of New York
          (formerly Irving Trust Company) as now in effect, which contains the
          authority to commence business and a grant of powers to exercise
          corporate trust powers. (Exhibit 1 to Amendment No. 1 to Form T-1
          filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to
          Form T-1 filed with Registration Statement No. 33-21672 and Exhibit 1
          to Form T-1 filed with Registration Statement No. 33-29637.)

     4.   A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1
          filed with Registration Statement No. 33-31019.)

     6.   The consent of the Trustee required by Section 321(b) of the Act.
          (Exhibit 6 to Form T-1 filed with Registration Statement No.
          33-44051.)

     7.   A copy of the latest report of condition of the Trustee published
          pursuant to law or to the requirements of its supervising or
          examining authority.


                                      -2-


<PAGE>


                                   SIGNATURE


     Pursuant to the requirements of the Act, the Trustee, The Bank of New
York, a corporation organized and existing under the laws of the State of New
York, has duly caused this statement of eligibility to be signed on its behalf
by the undersigned, thereunto duly authorized, all in The City of New York, and
State of New York, on the 18th day of January, 2001.

                                            THE BANK OF NEW YORK


                                            By: /s/  STEPHEN J. GIURLANDO
                                                -------------------------
                                                Name:   STEPHEN J. GIURLANDO
                                                Title:  VICE PRESIDENT


<PAGE>



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                      Consolidated Report of Condition of
                              THE BANK OF NEW YORK

                    of One Wall Street, New York, N.Y. 10286
                     And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business September 30,
2000, published in accordance with a call made by the Federal Reserve Bank of
this District pursuant to the provisions of the Federal Reserve Act.

                                                                 Dollar Amounts
ASSETS                                                            In Thousands
Cash and balances due from depository institutions:
   Noninterest-bearing balances and currency and coin..             $4,194,838
   Interest-bearing balances...........................              4,596,320
Securities:
   Held-to-maturity securities.........................                837,052
   Available-for-sale securities.......................              4,877,379
Federal funds sold and Securities purchased under
   agreements to resell................................              3,085,401
Loans and lease financing receivables:
   Loans and leases, net of unearned
     income.......................37,707,721
   LESS: Allowance for loan and
     lease losses....................598,990
   LESS: Allocated transfer risk
     reserve..........................12,370
   Loans and leases, net of unearned income,
     allowance, and reserve............................             37,096,361
Trading Assets.........................................             10,039,718
Premises and fixed assets (including capitalized
   leases).............................................                740,743
Other real estate owned................................                  4,714
Investments in unconsolidated subsidiaries and
   associated companies................................                178,845
Customers' liability to this bank on acceptances
   outstanding.........................................                887,442
Intangible assets......................................              1,353,079
Other assets...........................................              4,982,250
                                                                   -----------
Total assets...........................................            $72,874,142
                                                                   ===========


<PAGE>


LIABILITIES
Deposits:
   In domestic offices.................................            $26,812,643
   Noninterest-bearing............11,206,758
   Interest-bearing...............15,605,885
   In foreign offices, Edge and Agreement
     subsidiaries, and IBFs............................             26,338,068
   Noninterest-bearing...............520,061
   Interest-bearing...............25,818,007
Federal funds purchased and Securities sold under
   agreements to repurchase............................              1,789,285
Demand notes issued to the U.S.Treasury................                100,000
Trading liabilities....................................              2,440,940
Other borrowed money:
   With remaining maturity of one year or less.........              1,581,151
   With remaining maturity of more than one year
     through three years...............................                      0
   With remaining maturity of more than three years....                 31,080
Bank's liability on acceptances executed and
   outstanding.........................................                889,948
Subordinated notes and debentures......................              1,652,000
Other liabilities......................................              4,914,363
                                                                   -----------
Total liabilities......................................             66,549,478
                                                                   ===========
EQUITY CAPITAL
Common stock...........................................              1,135,285
Surplus................................................                988,327
Undivided profits and capital reserves.................              4,242,906
Net unrealized holding gains (losses) on
   available-for-sale securities.......................                (11,848)
Accumulated net gains (losses) on cash flow hedges.....                      0
Cumulative foreign currency translation adjustments....                (30,006)
                                                                   -----------
Total equity capital...................................              6,324,664
                                                                   -----------
Total liabilities and equity capital...................            $72,874,142
                                                                   ===========


<PAGE>


     I, Thomas J. Mastro, Senior Vice President and Comptroller of the
above-named bank do hereby declare that this Report of Condition has been
prepared in conformance with the instructions issued by the Board of Governors
of the Federal Reserve System and is true to the best of my knowledge and
belief.

                                                               Thomas J. Mastro


     We, the undersigned directors, attest to the correctness of this Report of
Condition and declare that it has been examined by us and to the best of our
knowledge and belief has been prepared in conformance with the instructions
issued by the Board of Governors of the Federal Reserve System and is true and
correct.

Thomas A. Renyi
Gerald L. Hassell                       Directors
Alan R. Griffith


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