Document:

FIVE-YEAR REVOLVING CREDIT AGREEMENT

                                      among

                       COMCAST CABLE COMMUNICATIONS, INC.

                                       and

                     The Financial Institutions Party Hereto

                         BANC OF AMERICA SECURITIES LLC
                                       and
                             CHASE SECURITIES INC.,
                                       as
                  Joint Lead Arrangers and Joint Book Managers

                            BNY CAPITAL MARKETS, INC.
                                       and
                           SALOMON SMITH BARNEY INC.,
                                 as Co-Arrangers

                             BANK OF AMERICA, N.A.,
                   as Administrative Agent, Swing Line Lender
                                       and
                         Letter of Credit Issuing Lender

                             CHASE SECURITIES INC.,
                              as Syndication Agent

                                 CITIBANK, N.A.
                                       and
                              THE BANK OF NEW YORK,
                           as Co-Documentation Agents

                           Dated as of August 24, 2000

<PAGE>

<TABLE>
<CAPTION>

<S>             <C>                                                                                          <C>
                                                 TABLE OF CONTENTS

Section                                                                                                        Page

SECTION 1. - DEFINITIONS AND ACCOUNTING TERMS....................................................................1
                  1.01     Defined Terms.........................................................................1
                  1.02     Use of Certain Terms.................................................................15
                  1.03     Accounting Terms.....................................................................15
                  1.04     Rounding.............................................................................15
                  1.05     Exhibits and Schedules...............................................................16
                  1.06     References to Agreements and Laws....................................................16
                  1.07     Pro Forma Calculations...............................................................16

SECTION 2. - THE COMMITMENTS AND EXTENSIONS OF CREDIT...........................................................17
                  2.01     Amount and Terms of Commitments......................................................17
                  2.02     Borrowings, Conversions and Continuations of Loans...................................18
                  2.03     Letters of Credit....................................................................18
                  2.04     Swing Line Loans.....................................................................23
                  2.05     Prepayments..........................................................................24
                  2.06     Reduction or Termination of Commitments..............................................24
                  2.07     Principal and Interest...............................................................24
                  2.08     Fees.................................................................................25
                  2.09     Computation of Interest and Fees.....................................................26
                  2.10     Making Payments......................................................................26
                  2.11     Funding Sources......................................................................27

SECTION 3. - TAXES, YIELD PROTECTION AND ILLEGALITY.............................................................27
                  3.01     Taxes................................................................................27
                  3.02     Illegality...........................................................................28
                  3.03     Inability to Determine Eurodollar Rates..............................................28
                  3.04     Increased Cost and Reduced Return; Capital Adequacy..................................29
                  3.05     Breakfunding Costs...................................................................29
                  3.06     Matters Applicable to all Requests for Compensation..................................30
                  3.07     Survival.............................................................................30

SECTION 4. - CONDITIONS PRECEDENT TO EXTENSIONS OF CREDIT.......................................................30
                  4.01     Conditions Precedent to Closing Date.................................................30
                  4.02     Conditions to all Extensions of Credit...............................................31

SECTION 5. - REPRESENTATIONS AND WARRANTIES.....................................................................32
                  5.01     Existence and Qualification; Power; Compliance with Laws.............................32
                  5.02     Power; Authorization; Enforceable Obligations........................................32
                  5.03     No Legal Bar.........................................................................32
                  5.04     Financial Statements; No Material Adverse Effect.....................................33
                  5.05     Litigation...........................................................................33
                  5.06     No Default...........................................................................33
                  5.07     Authorizations.......................................................................33
                  5.08     Taxes................................................................................33

                                                                               Five-Year Revolving Credit Agreement

                                                        (i)

<PAGE>

                  5.09     Margin Regulations; Investment Company Act; Public Utility Holding
                           Company Act..........................................................................33
                  5.10     ERISA Compliance.....................................................................34
                  5.11     Assets; Liens........................................................................34
                  5.12     Environmental Compliance.............................................................34
                  5.13     Use of Proceeds......................................................................34
                  5.14     Disclosure...........................................................................35

SECTION 6. - AFFIRMATIVE COVENANTS..............................................................................35
                  6.01     Financial Statements.................................................................35
                  6.02     Certificates, Notices and Other Information..........................................35
                  6.03     Payment of Taxes.....................................................................36
                  6.04     Preservation of Existence............................................................36
                  6.05     Maintenance of Properties............................................................36
                  6.06     Maintenance of Insurance.............................................................36
                  6.07     Compliance With Laws.................................................................36
                  6.08     Inspection Rights....................................................................37
                  6.09     Keeping of Records and Books of Account..............................................37
                  6.10     Compliance with ERISA................................................................37
                  6.11     Compliance With Agreements...........................................................37
                  6.12     Use of Proceeds......................................................................37
                  6.13     Designation of Unrestricted Companies................................................37

SECTION 7. - NEGATIVE COVENANTS.................................................................................37
                  7.01     Liens................................................................................38
                  7.02     Subsidiary Indebtedness..............................................................39
                  7.03     Fundamental Changes..................................................................39
                  7.04     ERISA................................................................................39
                  7.05     Limitations on Upstreaming...........................................................40
                  7.06     Margin Regulations...................................................................40
                  7.07     Financial Covenants..................................................................40

SECTION 8. - EVENTS OF DEFAULT AND REMEDIES ....................................................................40
                  8.01     Events of Default....................................................................40
                  8.02     Remedies Upon Event of Default.......................................................42

SECTION 9. - ADMINISTRATIVE AGENT...............................................................................43
                  9.01     Appointment and Authorization of Administrative Agent................................43
                  9.02     Delegation of Duties.................................................................43
                  9.03     Liability of Administrative Agent....................................................44
                  9.04     Reliance by Administrative Agent.....................................................44
                  9.05     Notice of Default....................................................................44
                  9.06     Credit Decision; Disclosure of Information by Administrative Agent...................45
                  9.07     Indemnification of Administrative Agent..............................................45
                  9.08     Administrative Agent in Individual Capacity..........................................46
                  9.09     Resignation by Administrative Agent..................................................46
                  9.10     Other Agents.........................................................................46

                                                                               Five-Year Revolving Credit Agreement

                                                        (ii)

<PAGE>

SECTION 10. - MISCELLANEOUS.....................................................................................47
                  10.01    Amendments; Consents.................................................................47
                  10.02    Requisite Notice; Effectiveness of Signatures and Electronic Mail....................48
                  10.03    Attorney Costs, Expenses and Taxes...................................................49
                  10.04    Binding Effect; Assignment...........................................................49
                  10.05    Set-off..............................................................................51
                  10.06    Sharing of Payments..................................................................51
                  10.07    No Waiver; Cumulative Remedies.......................................................51
                  10.08    Usury................................................................................52
                  10.09    Counterparts.........................................................................52
                  10.10    Integration..........................................................................52
                  10.11    Nature of Lenders' Obligations.......................................................52
                  10.12    Survival of Representations and Warranties...........................................53
                  10.13    Indemnity by Borrower................................................................53
                  10.14    Nonliability of Lenders..............................................................53
                  10.15    No Third Parties Benefitted..........................................................54
                  10.16    Severability.........................................................................54
                  10.17    Confidentiality......................................................................54
                  10.18    Headings.............................................................................55
                  10.19    Time of the Essence..................................................................55
                  10.20    Foreign Lenders......................................................................55
                  10.21    Removal and Replacement of Lenders...................................................56
                  10.22    Governing Law........................................................................56
                  10.23    Waiver of Right to Trial by Jury.....................................................57

                                                                               Five-Year Revolving Credit Agreement

                                                        (iii)

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EXHIBITS

                  Form of

         A        Request for Extension of Credit
         B        Compliance Certificate
         C        Syndicated Loan Note
         D        Assignment and Acceptance
         E        Opinion of Counsel
         F        Swing Line Note

SCHEDULES

         2.01     Commitments and Pro Rata Shares
         2.03     Existing Letters of Credit
         4.01     Indebtedness to be Repaid
         7.01     Existing Liens
         7.02     Existing Subsidiary Indebtedness

                                                                               Five-Year Revolving Credit Agreement
</TABLE>

                                      (iv)

<PAGE>

                      FIVE-YEAR REVOLVING CREDIT AGREEMENT

         This FIVE-YEAR  REVOLVING CREDIT AGREEMENT is entered into as of August
24,  2000,  by  and  among  COMCAST  CABLE  COMMUNICATIONS,   INC.,  a  Delaware
corporation   ("Borrower"),   each  lender  from  time  to  time  party   hereto
(collectively,  "Lenders"  and  individually,  a "Lender")  and BANK OF AMERICA,
N.A., as Administrative Agent, Swing Line Lender and an Issuing Lender.

                                     RECITAL

         Borrower  has  requested  that  Lenders,  Swing Line Lender and Issuing
Lender provide a revolving line of credit, and Lenders,  Swing Line Lender, each
Issuing  Lender and  Administrative  Agent are willing to do so on the terms and
conditions set forth herein.

         In  consideration  of  the  mutual  covenants  and  agreements   herein
contained, the parties hereto covenant and agree as follows:

                                   SECTION 1.
                        DEFINITIONS AND ACCOUNTING TERMS

         1.01 Defined  Terms.  As used in this  Agreement,  the following  terms
shall have the meanings set forth below:

         "Acquisition"  means (a) any purchase or other acquisition of assets or
series of related  purchases or other  acquisitions of assets by Borrower or any
Restricted  Subsidiary  (including  by way of asset or stock  purchase,  swap or
merger)  other  than  from  Borrower  or any  Restricted  Subsidiary  or (b) the
designation  by  Borrower  of  an   Unrestricted   Subsidiary  as  a  Restricted
Subsidiary.

         "Administrative  Agent" means Bank of America, N.A., in its capacity as
administrative  agent  under  any  of  the  Loan  Documents,  or  any  successor
administrative agent permitted under the Loan Documents.

         "Administrative  Agent's Office" means  Administrative  Agent's address
and, as appropriate, account set forth below its signature to this Agreement, or
such other address or account as Administrative Agent hereafter may designate by
written notice to Borrower and Lenders.

         "Administrative   Agent-Related  Persons"  means  Administrative  Agent
(including any successor agent),  together with its Affiliates and the officers,
directors,   employees,   agents  and  attorneys-in-fact  of  such  Persons  and
Affiliates.

         "Administrative  Questionnaire"  means, with respect to each Lender, an
administrative  questionnaire in the form prepared by  Administrative  Agent and
submitted to  Administrative  Agent (with a copy to Borrower)  duly completed by
such Lender.

         "Affiliate"  means  any  Person  directly  or  indirectly  controlling,
controlled by, or under direct or indirect common control with, another Person.

         "Agreement"  means  this  Five-Year  Revolving  Credit  Agreement,   as
amended, restated, extended,  supplemented or otherwise modified in writing from
time to time.

                                            Five-Year Revolving Credit Agreement

                                        1

<PAGE>

         "Annualized EBITDA" means, at any date of determination, EBITDA for the
two fiscal quarter periods then most recently ended times two (2).

         "Annualized  Interest  Expense"  means,  at any date of  determination,
Interest  Expense for the two fiscal  quarter  periods then most recently  ended
times two (2).

         "Applicable  Amount" means the following  applicable  amount per annum,
based upon the applicable Debt Ratings:

<TABLE>
<CAPTION>
                                     Applicable Amount (in basis points per annum)
     Pricing               Debt Ratings                                      Eurodollar Rate/           Utilization
      Level                S&P/Moody's                Facility Fee           Letters of Credit              Fee
      -----                -----------                ------------           -----------------              ---
<S>     <C>                       <C>                      <C>                     <C>                      <C>
        1                     >A/A2                        8.5                     19.0                      7.5
        2                     A-/A3                       10.0                     27.5                      7.5
        3                   BBB+/Baa1                     12.0                     33.0                     10.0
        4                    BBB/Baa2                     15.0                     45.0                     10.0
        5                   BBB-/Baa3                     18.0                     57.0                     12.5
        6             <BBB-/Baa3 or unrated               25.0                     75.0                     12.5
</TABLE>

         As used in this  definition,  "Debt  Rating"  means,  as of any date of
determination,  the rating as determined by either S&P or Moody's (collectively,
the "Debt Ratings") of Borrower's senior unsecured non-credit enhanced long-term
Indebtedness  for borrowed  money;  provided  that if a Debt Rating is issued by
each of S&P and Moody's,  then the higher of such Debt Ratings shall apply (with
Pricing Level 1 being the highest and Pricing Level 6 being the lowest),  unless
there is a split in Debt Ratings of more than one level, in which case the level
that is one level higher than the lower Debt Rating shall apply. Initially,  the
Debt Ratings  shall be determined  from the  certificate  delivered  pursuant to
Section  4.01(a)(v).  Thereafter,  the Debt Ratings shall be determined from the
most recent public  announcement of any changes in the Debt Ratings.  Any change
in the  Applicable  Amount shall  become  effective on and as of the date of any
public  announcement  of any Debt Rating that  indicates a different  Applicable
Amount.  If the  rating  system of S&P or Moody's  shall  change,  Borrower  and
Administrative  Agent shall  negotiate in good faith to amend this definition to
reflect  such  changed  rating  system and,  pending the  effectiveness  of such
amendment  (which  shall  require the  approval of Required  Lenders),  the Debt
Rating shall be  determined  by reference to the rating most  recently in effect
prior to such change.

         "Applicable  Payment Date" means,  (a) as to any Eurodollar  Rate Loan,
the last day of the relevant Interest Period, any date that such Loan is prepaid
or Converted in whole or in part and the Maturity Date; provided,  however, that
if any Interest Period for a Eurodollar Rate Loan exceeds three months, interest
shall also be paid on the  Business Day which falls every three months after the
beginning of such Interest Period; and (b) as to any other Obligations, the last
Business Day of each calendar quarter and the Maturity Date, except as otherwise
provided herein.

         "Applicable Time" means New York time.

                                            Five-Year Revolving Credit Agreement

                                        2

<PAGE>

         "Assignment  and   Acceptance"   means  an  Assignment  and  Acceptance
substantially in the form of Exhibit D.

         "Attorney  Costs" means the reasonable fees and  disbursements of a law
firm or other external counsel.

         "Attributable  Indebtedness"  means, with respect to any Sale-Leaseback
Transaction,  the present value (discounted at the rate set forth or implicit in
the terms of the lease included in such Sale-Leaseback Transaction) of the total
obligations of the lessee for rental payments (other than amounts required to be
paid  on  account  of  taxes,  maintenance,   repairs,  insurance,  assessments,
utilities,  operating  and labor  costs and other  items that do not  constitute
payments for property rights) during the remaining term of the lease included in
such Sale-Leaseback  Transaction  (including any period for which such lease has
been  extended).  In the case of any lease that is terminable by the lessee upon
payment of a penalty,  the Attributable  Indebtedness shall be the lesser of the
Attributable Indebtedness determined assuming termination on the first date such
lease may be terminated (in which case the Attributable  Indebtedness shall also
include the amount of the penalty,  but no rent shall be  considered as required
to be paid under such lease  subsequent  to the first date on which it may be so
terminated)  or  the  Attributable  Indebtedness  determined  assuming  no  such
termination.

         "Audited Financial  Statements" means the audited  consolidated balance
sheet of Borrower and its  Subsidiaries  for the fiscal year ended  December 31,
1999,  and the  related  consolidated  statements  of income  and cash  flows of
Borrower and its Subsidiaries for such fiscal year.

         "Bank of America" means Bank of America, N.A.

         "Base Rate" means for any day a fluctuating rate per annum equal to the
higher of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest
in  effect  for  such day as  publicly  announced  from  time to time by Bank of
America as its "prime  rate."  Such rate is a rate set by Bank of America  based
upon  various  factors  including  Bank of America's  costs and desired  return,
general economic conditions and other factors,  and is used as a reference point
for pricing some loans,  which may be priced at, above,  or below such announced
rate.  Any change in such rate announced by Bank of America shall take effect at
the opening of business on the day specified in the public  announcement of such
change.

         "Base Rate Loan" means a Loan made  hereunder that bears interest based
upon the Base Rate.

         "BLR" means Brian L. Roberts,  the estate of Brian L.  Roberts,  or any
trust of which Brian L. Roberts is the principal beneficiary.

         "Borrower"  has the  meaning  set forth in the  introductory  paragraph
hereto.

         "Borrowing" and "Borrow" each mean a borrowing of Loans hereunder.

         "Business Day" means any day other than a Saturday, Sunday or other day
on which commercial banks in New York, New York or Dallas,  Texas are authorized
or required by law to close,  and, if the  applicable  Business Day relates to a
Eurodollar  Rate Loan,  any such day on which  dealings  are  carried out in the
applicable offshore Dollar market.

                                            Five-Year Revolving Credit Agreement

                                        3

<PAGE>

         "Change of  Control"  means an event or series of events as a result of
which neither Comcast  Corporation  nor BLR, either  separately or on a combined
basis, is to be the "beneficial  owner" (as defined in Rules 13(d)-3 and 13(d)-5
under the Securities Exchange Act of 1934) directly or indirectly of such equity
as entitles  the holder  thereof,  under  ordinary  circumstances,  to elect the
majority of the board of directors of Borrower.

         "Closing  Date"  means  the date upon  which  this  Agreement  has been
executed by Borrower,  Lenders and  Administrative  Agent and all the conditions
precedent in Section 4.01 have been satisfied or waived.

         "Code" means the Internal Revenue Code of 1986, as amended from time to
time.

         "Commitment" means, for each Lender, the amount set forth opposite such
Lender's  name on Schedule  2.01, as such amount may be reduced or adjusted from
time to time in accordance with the terms of this Agreement  (collectively,  the
"combined Commitments").

         "Compliance Certificate" means a certificate  substantially in the form
of  Exhibit  B,  properly  completed  and  signed by a  Responsible  Officer  of
Borrower.

         "Consolidated   Total   Indebtedness"   means,   as  of  any   date  of
determination,   the  total   Indebtedness   of  Borrower  and  its   Restricted
Subsidiaries, determined on a consolidated basis in accordance with GAAP.

         "Continuation" and "Continue" mean, with respect to any Eurodollar Rate
Loan, the continuation of such Eurodollar Rate Loan as a Eurodollar Rate Loan on
the last day of the Interest Period for such Loan.

         "Contractual  Obligation" means, as to any Person, any provision of any
security issued by such Person or of any agreement, instrument or undertaking to
which such Person is a party or by which it or any of its property is bound.

         "Conversion"  and  "Convert"  mean,  with  respect  to  any  Loan,  the
conversion of such Loan from or into another type of Loan.

         "Debtor Relief Laws" means the Bankruptcy  Code of the United States of
America, and all other liquidation, conservatorship,  bankruptcy, assignment for
the benefit of creditors, moratorium, rearrangement,  receivership,  insolvency,
reorganization  or similar debtor relief Laws of the United States of America or
other applicable  jurisdictions from time to time in effect affecting the rights
of creditors generally.

         "Default"  means any event  that,  with the giving of any  notice,  the
passage of time, or both, would be an Event of Default.

         "Default  Rate" means an  interest  rate equal to the Base Rate plus 2%
per annum;  provided,  however, that with respect to a Eurodollar Rate Loan (for
so long as it is a Eurodollar Rate Loan),  the Default Rate shall be an interest
rate equal to the interest rate  (including  any  Applicable  Amount)  otherwise
applicable  to such Loan plus 2% per annum,  in each case to the fullest  extent
permitted by applicable Laws.

         "Disposition"  means (a) any sale,  transfer  or other  disposition  of
assets or series of sales,  transfers or other disposition of assets by Borrower
or any Restricted Subsidiary (including by way of asset or stock

                                            Five-Year Revolving Credit Agreement

                                        4

<PAGE>

sale, swap or merger) other than to Borrower or any Restricted Subsidiary or (b)
the  designation  by  Borrower of a  Restricted  Subsidiary  as an  Unrestricted
Subsidiary.

         "Dollar" and "$" means lawful money of the United States of America.

         "EBITDA"  means,  with  respect to any Person or any income  generating
assets,  for any period, an amount equal to (a) the net income of such Person or
generated  by such assets  adjusted to exclude (i) gains and losses from unusual
or  extraordinary  items  and (ii)  interest  income,  plus (b)  income or gross
receipts  taxes  (whether  or not  deferred),  Interest  Expense,  depreciation,
amortization and other non-cash charges to income, in each case for such period,
minus (c) any cash  payments  made during such period in respect of any non-cash
charges to income  accrued  during a prior period and added back in  determining
EBITDA  during  such prior  period  pursuant  to clause  (b) above,  plus (d) in
respect  of any  period  ended on or before  December  31,  2000,  to the extent
deducted in  determining  net income  during such period  pursuant to clause (a)
above,  management,  programming and similar fees paid (whether actually paid in
cash or accrued) by such Person during such period to Comcast Corporation or any
of its wholly-owned Subsidiaries other than Borrower or a Restricted Subsidiary;
provided such  management,  programming or similar  agreement  pursuant to which
such fees have been paid or accrued has been assigned to Borrower on or prior to
December 31, 2000.

         "Environmental Laws" means all Laws relating to environmental,  health,
safety and land use matters applicable to any property.

         "ERISA" means the Employee  Retirement  Income Security Act of 1974 and
any regulations issued pursuant thereto, as amended from time to time.

         "ERISA   Affiliate"  means  any  trade  or  business  (whether  or  not
incorporated)  under common control with Borrower  within the meaning of Section
414(b) or (c) of the Code (and Sections  414(m) and (o) of the Code for purposes
of provisions relating to Section 412 of the Code).

         "ERISA Event" means (a) any  "reportable  event," as defined in Section
4043 of ERISA or the regulations issued thereunder with respect to a Plan (other
than an event for which the 30-day notice  period is waived);  (b) the existence
with respect to any Plan of an "accumulated  funding  deficiency" (as defined in
Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the
filing  pursuant to Section  412(d) of the Code or Section 303(d) of ERISA of an
application  for a waiver of the minimum  funding  standard  with respect to any
Plan;  (d) the  incurrence by Borrower or any ERISA  Affiliates of any liability
under Title IV of ERISA with  respect to the  termination  of any Plan;  (e) the
receipt by Borrower or any ERISA Affiliate from the PBGC or a plan administrator
of any notice  relating to an intention  to  terminate  any Plan or to appoint a
trustee to  administer  any Plan;  (f) the  incurrence  by Borrower or any ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal
from any Plan or  Multiemployer  Plan; or (g) the receipt by any Borrower or any
ERISA  Affiliate of any notice,  or the receipt by any  Multiemployer  Plan from
Borrower or any ERISA  Affiliate of any notice,  concerning  the  imposition  of
withdrawal  liability or a  determination  that a  Multiemployer  Plan is, or is
expected to be, insolvent or in  reorganization,  within the meaning of Title IV
of ERISA.

         "Eurodollar  Base Rate" has the meaning set forth in the  definition of
Eurodollar Rate.

                                            Five-Year Revolving Credit Agreement

                                        5

<PAGE>

         "Eurodollar  Rate" means for any  Interest  Period with  respect to any
Eurodollar  Rate  Loan,  a rate per annum  determined  by  Administrative  Agent
pursuant to the following formula:

         Eurodollar Rate =              Eurodollar Base Rate
                           ----------------------------------------------
                                1.00 - Eurodollar Reserve Percentage

                  Where,

                  "Eurodollar Base Rate" means, for such Interest Period:

                  (a) The  rate  per  annum  equal  to the  rate  determined  by
         Administrative Agent to be the offered rate that appears on the page of
         the  Telerate   screen  that  displays  an  average   British   Bankers
         Association  Interest  Settlement  Rate for  deposits  in Dollars  (for
         delivery  on  the  first  day  of  such  Interest  Period)  with a term
         equivalent to such  Interest  Period,  determined  as of  approximately
         11:00 a.m.  (London  time) two Business  Days prior to the first day of
         such Interest Period, or

                  (b)  In  the  event  the  rate  referenced  in  the  preceding
         subsection  (a) does not appear on such page or service or such page or
         service  shall cease to be  available,  the rate per annum equal to the
         rate reasonably  determined by Administrative Agent (after consultation
         with  Borrower)  to be the  offered  rate on such  other  page or other
         service that displays an average British Bankers  Association  Interest
         Settlement  Rate for deposits in Dollars (for delivery on the first day
         of such  Interest  Period)  with a term  equivalent  to  such  Interest
         Period,  determined as of  approximately  11:00 a.m.  (London time) two
         Business Days prior to the first day of such Interest Period, or

                  (c)  In the  event  the  rates  referenced  in  the  preceding
         subsections  (a)  and  (b)  are  not  available,  the  rate  per  annum
         determined  by  Administrative  Agent as the  average  of the  rates of
         interest  (rounded  upward to the next 1/100th of 1%) at which deposits
         in Dollars  for  delivery on the first day of such  Interest  Period in
         same day funds in the  approximate  amount of the Eurodollar  Rate Loan
         being made,  Continued  or  Converted  by  Administrative  Agent in its
         capacity as a Lender and with a term equivalent to such Interest Period
         are offered by Reference  Banks to major banks in the London  interbank
         Dollar  market at their  request at  approximately  11:00 a.m.  (London
         time) two Business Days prior to the first day of such Interest Period.
         If any  Reference  Bank does not quote  such a rate at the  request  of
         Administrative  Agent,  such average rate shall be determined  from the
         rates of the Reference Banks that quote such a rate; and

                  "Eurodollar  Reserve Percentage" means, for any day during any
         Interest  Period,  the  reserve  percentage  (expressed  as a  decimal,
         rounded  upward  to the next  1/100th  of 1%) in  effect  on such  day,
         whether or not applicable to any Lender,  under regulations issued from
         time to time by the Board of  Governors of the Federal  Reserve  System
         for  determining  the  maximum  reserve   requirement   (including  any
         emergency,  supplemental or other marginal  reserve  requirement) for a
         member bank of the Federal  Reserve System in respect of  "Eurocurrency
         liabilities" (or in respect of any other category of liabilities, which
         includes deposits by reference to which the interest rate on Eurodollar
         Rate Loans is  determined  or any category of  extensions  of credit or
         other assets,  which  includes  loans by a non- United States office of
         any Lender to United States  residents).  The Eurodollar  Rate for each
         outstanding  Eurodollar Rate Loan shall be adjusted automatically as of
         the effective date of any change in the Eurodollar Reserve Percentage.

                                            Five-Year Revolving Credit Agreement

                                        6

<PAGE>

                  The determination of the Eurodollar Reserve Percentage and the
         Eurodollar Base Rate by Administrative Agent shall be conclusive in the
         absence of manifest error.

         "Eurodollar  Rate  Loan"  means a Loan  bearing  interest  based on the
Eurodollar Rate.

         "Event of Default" means any of the events specified in Section 8.

         "Existing  Letters of Credit" means the letters of credit  described on
Schedule  2.03 that have been issued  prior to the  Closing  Date by the Lenders
identified on such Schedule and that are outstanding on the Closing Date.

         "Extension of Credit" means (a) a Borrowing, Conversion or Continuation
of Loans  and (b) a Letter of Credit  Action  whereby a new  Letter of Credit is
issued or which has the  effect of  increasing  the  amount  of,  extending  the
maturity  of, or making a  material  modification  to an  outstanding  Letter of
Credit  or  the  reimbursement  of  drawings   thereunder   (collectively,   the
"Extensions of Credit").

         "Federal  Funds Rate" means,  for any day, the rate per annum  (rounded
upwards to the nearest  1/100 of 1%) equal to the weighted  average of the rates
on overnight  Federal  funds  transactions  with members of the Federal  Reserve
System  arranged  by Federal  funds  brokers on such day,  as  published  by the
Federal  Reserve Bank of New York on the Business Day next  succeeding such day;
provided  that (a) if such day is not a Business Day, the Federal Funds Rate for
such day shall be such rate on such transactions on the next preceding  Business
Day as so published on the next succeeding Business Day, and (b) if no such rate
is so published on such next succeeding Business Day, the Federal Funds Rate for
such day shall be the  average  rate  charged  to Bank of America on such day on
such  transactions as determined by  Administrative  Agent (which  determination
shall be conclusive in the absence of manifest error).

         "GAAP" means  generally  accepted  accounting  principles  applied on a
consistent  basis (but  subject to changes  approved by  Borrower's  independent
certified public accountants).

         "Governmental Authority" means (a) any international, foreign, federal,
state, county or municipal government, or political subdivision thereof, (b) any
governmental or quasi-governmental agency, authority, board, bureau, commission,
department, instrumentality,  central bank or public body, including the Federal
Communications  Commission,  (c) any state public utilities  commission or other
authority and any federal,  state, county, or municipal licensing or franchising
authority or (d) any court or administrative tribunal.

         "Guaranty Obligation" means, as to any Person, any (a) guaranty by such
Person of Indebtedness of any other Person or (b) legally binding  obligation of
such Person to purchase or pay (or to advance or supply  funds for the  purchase
or payment  of)  Indebtedness  of any other  Person,  or to  purchase  property,
securities,  or  services  for  the  purpose  of  assuring  the  owner  of  such
Indebtedness of the payment of such Indebtedness or to maintain working capital,
equity capital or other financial statement condition of such other Person so as
to enable such other Person to pay such Indebtedness;  provided,  however,  that
the term Guaranty  Obligation shall not include  endorsements of instruments for
deposit or  collection  in the ordinary  course of  business.  The amount of any
Guaranty  Obligation  shall be  deemed to be an  amount  equal to the  stated or
determinable  amount of the  related  primary  obligation,  or portion  thereof,
covered  by such  Guaranty  Obligation  or, if not stated or  determinable,  the
maximum reasonably anticipated liability in respect thereof as determined by the
Person in good faith.

                                            Five-Year Revolving Credit Agreement

                                        7

<PAGE>

         "Indebtedness"  means, as to any Person,  without duplication,  (a) all
obligations  of such Person for  borrowed  money,  (b) all  obligations  of such
Person evidenced by bonds,  debentures,  notes or similar  instruments,  (c) all
obligations  of such Person  under  conditional  sale or other  title  retention
agreements  relating to property or assets  purchased  by such  Person,  (d) all
obligations  of such Person issued or assumed as the deferred  purchase price of
property or  services,  (e) all  Indebtedness  of others  secured by any Lien on
property  owned or  acquired  by such  Person,  whether  or not the  obligations
secured thereby have been assumed,  (f) all Guaranty  Obligations of such Person
with respect to  Indebtedness  of others,  (g) all capital lease  obligations of
such Person, (h) all Attributable Indebtedness under Sale-Leaseback Transactions
under which such Person is the lessee and (i) all  obligations of such Person as
an account  party in respect of  outstanding  letters of credit  (whether or not
drawn) and bankers' acceptances;  provided, however, that Indebtedness shall not
include (i) trade accounts  payable  arising in the ordinary  course of business
and  (ii)  deferred  compensation;  provided,  further,  that in the case of any
obligation  of such  Person  which is  recourse  only to certain  assets of such
Person,  the  amount  of such  Indebtedness  shall be deemed to be equal to (but
shall not exceed) the value of the assets to which such  obligation  is recourse
as reflected on the balance  sheet of such Person at the time of the  incurrence
of such obligation;  and provided,  further, that the amount of any Indebtedness
described  in  clause  (e)  above  shall  be the  lesser  of the  amount  of the
Indebtedness   or  the  fair  market  value  of  the  property   securing   such
Indebtedness.

         "Indemnified Liabilities" has the meaning set forth in Section 10.13.

         "Indemnitees" has the meaning set forth in Section 10.13.

         "Interest  Coverage  Ratio" means,  at any date of  determination,  for
Borrower and its Restricted Subsidiaries,  on a consolidated basis, the ratio of
(a) Annualized EBITDA to (b) Annualized Interest Expense.

         "Interest  Expense"  means,  with  respect  to any Person or any income
generating assets, for any period, an amount equal to, without duplication,  (a)
all  interest  on  Indebtedness  of such Person or  properly  allocable  to such
assets, and commitment and facility fees in respect thereof, accrued (whether or
not actually paid) during such period,  plus (b) the net amount accrued (whether
or not  actually  paid) by such  Person or  properly  allocable  to such  assets
pursuant to any interest rate protection  agreement during such period (or minus
the net amount receivable  (whether or not actually  received) by such Person or
properly allocable to such assets during such period).

         "Interest  Period" means, for each Eurodollar Rate Loan, (a) initially,
the period  commencing  on the date such  Eurodollar  Rate Loan is  disbursed or
Continued as, or Converted  into,  such Eurodollar Rate Loan and (b) thereafter,
the period  commencing on the last day of the  preceding  Interest  Period,  and
ending, in each case, on the earlier of (x) the scheduled  Maturity Date, or (y)
one,  two,  three,  six, or subject to  availability  to each Lender,  12 months
thereafter; provided that:

                  (i) Any Interest Period that would otherwise end on a day that
         is not a Business Day shall be extended to the next succeeding Business
         Day unless such Business Day falls in another  calendar month, in which
         case such Interest Period shall end on the next preceding Business Day;

                  (ii) Any Interest Period which begins on the last Business Day
         of a  calendar  month  (or on a day for which  there is no  numerically
         corresponding  day in the  calendar  month at the end of such  Interest
         Period) shall end on the last Business Day of the calendar month at the
         end of such Interest Period; and

                                            Five-Year Revolving Credit Agreement

                                        8

<PAGE>

                  (iii) Unless  Administrative  Agent otherwise consents,  there
         may not be more than ten (10)  Interest  Periods  for  Eurodollar  Rate
         Loans in effect at any time.

         "IRS" means the United States Internal Revenue Service.

         "Issuing  Lender"  means  each  of Bank of  America,  or any  successor
issuing lender  hereunder,  and, with respect to each Existing Letter of Credit,
the Lender which is the issuer thereof (but only so long as such Existing Letter
of Credit is outstanding).

         "Laws" or "Law" means all international,  foreign,  federal,  state and
local   statutes,   treaties,   rules,   regulations,   ordinances,   codes  and
administrative or judicial precedents or authorities,  including,  if consistent
therewith,  the  interpretation  or  administration  thereof by any Governmental
Authority  charged  with  the  enforcement,   interpretation  or  administration
thereof.

         "Lead Arranger" means each of Banc of America  Securities LLC and Chase
Securities  Inc.,  in its  capacity  as a joint  lead  arranger  and joint  book
manager.

         "Lender"  means each lender from time to time party  hereto and, as the
context requires, Swing Line Lender and each Issuing Lender, and, subject to the
terms and conditions of this Agreement,  their respective successors and assigns
(but not any purchaser of a participation  hereunder unless otherwise a party to
this Agreement).

         "Lending Office" means, as to any Lender, the office or offices of such
Lender  described  as such on its  Administrative  Questionnaire,  or such other
office or offices as such  Lender  may from time to time  notify  Administrative
Agent and Borrower.

         "Letter  of Credit"  means any letter of credit  issued or deemed to be
issued hereunder, including the Existing Letters of Credit.

         "Letter of Credit  Action" means the issuance,  supplement,  amendment,
renewal, extension,  modification or other action relating to a Letter of Credit
hereunder.

         "Letter of Credit  Application"  means an  application  for a Letter of
Credit Action from time to time in use by an Issuing Lender.

         "Letter of Credit  Cash  Collateral  Account"  means a blocked  deposit
account at Bank of America in which Borrower  hereby grants a security  interest
to Administrative  Agent as security for Letter of Credit Usage and with respect
to  which  Borrower  agrees  to  execute  and  deliver  from  time to time  such
documentation as Administrative  Agent may reasonably  request to further assure
and confirm such security interest.

         "Letter of Credit Expiration Date" means the date that is five Business
Days prior to the Maturity Date.

         "Letter of Credit  Sublimit" means an amount equal to the lesser of (a)
the combined Commitments minus the aggregate amount of all outstanding Loans and
(b) $175,000,000.  The Letter of Credit Sublimit is part of, and not in addition
to, the combined Commitments.

                                            Five-Year Revolving Credit Agreement

                                        9

<PAGE>

         "Letter of Credit Usage" means,  as of any date of  determination,  the
aggregate undrawn face or available amount of outstanding Letters of Credit plus
the aggregate  amount of all drawings under the Letters of Credit not reimbursed
by Borrower or converted into Loans.

         "Leverage Ratio" means, at any date of determination,  the ratio of (a)
Consolidated  Total  Indebtedness  as of such date to (b)  Annualized  EBITDA of
Borrower and its Restricted Subsidiaries, on a consolidated basis.

         "Lien" means any mortgage, pledge, hypothecation,  assignment,  deposit
arrangement (in the nature of compensating balances, cash collateral accounts or
security  interests),   encumbrance,  lien  (statutory  or  other),  charge,  or
preference,  priority or other security interest (including any conditional sale
or other  title  retention  agreement,  any  financing  lease or  Sale-Leaseback
Transaction  having  substantially  the  same  economic  effect  as  any  of the
foregoing,  and  the  filing  of  any  financing  statement  under  the  Uniform
Commercial Code or comparable Laws of any jurisdiction),  including the interest
of a purchaser  of accounts  receivable;  provided  that Liens shall not include
ordinary and customary contractual set off rights.

         "Loan"  means any advance made by any Lender to Borrower as provided in
Section 2 (collectively, the "Loans").

         "Loan Documents" means this Agreement, each Note, each Letter of Credit
Application,  each Request for Extension of Credit, each Compliance Certificate,
each fee  letter  and each  other  instrument  or  agreement  from  time to time
delivered by Borrower pursuant to this Agreement.

         "Material    Acquisition"   means   any   Acquisition   (the   "Subject
Acquisition")  (i) made at a time when the Leverage Ratio is in excess of 4.5 to
1.0 or (ii)  that has an  Annualized  Acquisition  Cash Flow  Value (as  defined
below) for the period ended on the last day of the fiscal  quarter most recently
ended  that is  greater  than  five  percent  (5%) of the  Annualized  EBITDA of
Borrower and its Restricted Subsidiaries,  on a consolidated basis, for the same
period.  The "Annualized  Acquisition Cash Flow Value" is an amount equal to (a)
the Annualized EBITDA of the assets comprising the Subject  Acquisition less (b)
the  Annualized  EBITDA of any assets  disposed of by Borrower or any Restricted
Subsidiary  (other than to Borrower or any Restricted  Subsidiary) in connection
with the Subject Acquisition.

         "Material  Adverse  Effect"  means any set of  circumstances  or events
(other than  circumstances  or events  affecting the cable  industry in general)
which (a) has or would  reasonably be expected to have a material adverse effect
upon the validity or enforceability against Borrower of any Loan Document or (b)
is or would  reasonably  be expected to be material and adverse to the business,
assets,  liabilities,  results of operations or financial  condition of Borrower
and its Restricted Subsidiaries, taken as a whole.

         "Material    Disposition"   means   any   Disposition   (the   "Subject
Disposition")  (i) made at a time when the Leverage Ratio is in excess of 4.5 to
1.0 or (ii)  that has an  Annualized  Disposition  Cash Flow  Value (as  defined
below), for the period ended on the last day of the fiscal quarter most recently
ended  that is  greater  than  five  percent  (5%) of the  Annualized  EBITDA of
Borrower and its Restricted Subsidiaries,  on a consolidated basis, for the same
period.  The "Annualized  Disposition Cash Flow Value" is an amount equal to (a)
the Annualized EBITDA of the assets comprising the Subject  Disposition less (b)
the  Annualized  EBITDA of any assets  acquired by  Borrower  or any  Restricted
Subsidiary (other than from Borrower or any Restricted Subsidiary) in connection
with the Subject Disposition.

                                            Five-Year Revolving Credit Agreement

                                       10

<PAGE>

         "Maturity Date" means (a) August 24, 2005 or (b) such earlier date upon
which the combined Commitments may be terminated in accordance with the terms of
this Agreement.

         "Minimum Amount" means, with respect to each of the following  actions,
the minimum  amount and any multiples in excess  thereof set forth opposite such
action:

<TABLE>
<CAPTION>
            Type of Action                          Minimum Amount                       Multiples in excess
                                                                                               thereof
--------------------------------------- --------------------------------------  --------------------------------------
<S>                                                  <C>                                      <C>
Borrowing or prepayment of, or                       $10,000,000                              $1,000,000
Conversion into, Base Rate
Loans
Borrowing, prepayment or                             $10,000,000                              $1,000,000
Continuation of, or Conversion
into, Eurodollar Rate Loans
Borrowing or prepayment of                            $1,000,000                                 None
Swing Line Loans
Letter of Credit Action                                 $5,000                                   None
Reduction in Commitments                             $25,000,000                              $5,000,000
Assignments                                          $10,000,000                                 None
</TABLE>

         "Moody's" means Moody's Investors Service, Inc., or it successor, or if
it is  dissolved  or  liquidated  or  no  longer  performs  the  functions  of a
securities  rating agency,  such other nationally  recognized  securities rating
agency agreed upon by Borrower and Administrative Agent and approved by Required
Lenders.

         "Multiemployer  Plan"  means  any  employee  benefit  plan of the  type
described in Section 4001(a)(3) of ERISA.

         "Notes" means,  collectively,  the Syndicated  Loan Notes and the Swing
Line Note.

         "Obligations"  means all  advances  to,  and  debts,  liabilities,  and
obligations  of,  Borrower  arising under any Loan  Document,  whether direct or
indirect (including those acquired by assumption),  absolute or contingent,  due
or to become due, now existing or hereafter arising and including  interest that
accrues after the commencement of any proceeding under any Debtor Relief Laws by
or against Borrower.

         "Outstanding  Obligations"  means, as of any date, and giving effect to
making  any  Extension  of  Credit  requested  on such  date  and all  payments,
repayments and prepayments  made on such date, (a) when reference is made to all
Lenders, the sum of (i) the aggregate  outstanding principal amount of all Loans
and (ii) all  Letter  of Credit  Usage,  and (b) when  reference  is made to one
Lender, the sum of (i) the aggregate  outstanding  principal amount of all Loans
made by such Lender (excluding, in the case of Swing Line Lender, its Swing Line
Loans except to the extent  provided in clause (iii) below),  (ii) such Lender's
ratable  participation  in all Letter of Credit  Usage and (iii)  such  Lender's
ratable participation in all outstanding Swing Line Loans.

                                            Five-Year Revolving Credit Agreement

                                       11

<PAGE>

         "PBGC" means the Pension Benefit Guaranty  Corporation or any successor
thereto established under ERISA.

         "Person"   means  any   individual,   trustee,   corporation,   general
partnership,   limited  partnership,  limited  liability  company,  joint  stock
company, trust, unincorporated organization,  bank, business association,  firm,
joint venture or Governmental Authority.

         "Plan"  means  any  "employee  pension  benefit  plan" (as such term is
defined in Section  3(2) of ERISA),  other than a  Multiemployer  Plan,  that is
subject to Title IV of ERISA and is sponsored or  maintained  by Borrower or any
ERISA Affiliate or to which Borrower or any ERISA  Affiliate  contributes or has
an  obligation  to  contribute,  or in the case of a multiple  employer plan (as
described in Section 4064(a) of ERISA) has made contributions at any time during
the immediately preceding five plan years.

         "Pro Rata Share"  means,  with respect to each Lender,  the  percentage
(rounded,  if necessary to the ninth decimal place) of the combined  Commitments
set forth  opposite the name of such Lender on Schedule  2.01, as such share may
be adjusted as contemplated herein.

         "Reference Banks" means Bank of America, N.A., The Chase Manhattan Bank
, Citibank, N.A. and The Bank of New York.

         "Register" has the meaning set forth in Section 2.01(c).

         "Request for Extension of Credit"  means,  unless  otherwise  specified
herein, (a) with respect to a Borrowing,  Conversion or Continuation of Loans, a
written  request  substantially  in the form of Exhibit A, (b) with respect to a
Letter of Credit Action, a Letter of Credit Application, and (c) with respect to
a Swing Line Loan,  any written or oral notice  acceptable to Swing Line Lender,
duly completed and signed by a Responsible  Officer of Borrower and delivered by
Requisite Notice (in the case of a written Request for Extension of Credit).

         "Required  Lenders" means, as of any date of determination:  (a) if the
Commitments are then in effect, Lenders (excluding any Lender that has failed to
fund  hereunder when the  applicable  conditions  precedent to such funding have
been  satisfied or waived in  accordance  herewith,  until such failure has been
cured)  having  in the  aggregate  more  than  50% of the  combined  Commitments
(excluding  the  Commitment of any Lender that has failed to fund hereunder when
the  applicable  conditions  precedent to such  funding  have been  satisfied or
waived in accordance herewith, until such failure has been cured) then in effect
and (b) if the  Commitments  have then been terminated and there are Outstanding
Obligations,  Lenders holding Outstanding  Obligations aggregating more than 50%
of such Outstanding Obligations.

         "Requisite  Notice" means a notice delivered in accordance with Section
10.02.

         "Requisite  Time"  means,  with  respect to any of the  actions  listed
below, the time and date set forth below opposite such action:

                                            Five-Year Revolving Credit Agreement

                                       12

<PAGE>

<TABLE>
<CAPTION>
                   Type of Action                       Applicable                     Date of Action
                                                           Time
                                                        (New York
                                                          Time)
-------------------------------------------------  --------------------  ------------------------------------------
Delivery of Request for Extension of Credit
for, or notice for:
<S>                                                   <C>                   <C>
o     Borrowing or prepayment of Base Rate            11:00 a.m.            Same Business Day as such
      Loans                                                                 Borrowing or prepayment

o     Conversion into Base Rate Loans                 11:00 a.m.            Same Business Day as such
                                                                            Conversion

o     Borrowing or prepayment of Swing Line           4:00 p.m.             Same Business Day as such
      Loans                                                                 Borrowing or prepayment

o     Borrowing, prepayment or Continuation           11:00 a.m.            3 Business Days prior to such
      of, or Conversion into, Eurodollar Rate                               Borrowing, prepayment,
      Loans                                                                 Continuation or Conversion

o     Letter of Credit Action                         11:00 a.m.            2 Business Days prior to such
                                                                            action (or such lesser time as is
                                                                            acceptable to an Issuing Lender)

Voluntary reduction in or termination of              11:00 a.m.            3 Business Days prior to such
Commitments                                                                 reduction or termination

Payments by Lenders or Borrower to                    1:00 p.m.             On date payment is due
Administrative Agent
</TABLE>

         "Responsible  Officer" means the  president,  any vice  president,  the
controller,  the  chief  financial  officer,  the  treasurer  or  any  assistant
treasurer of Borrower. Any document or certificate hereunder that is signed by a
Responsible  Officer of  Borrower  shall be  conclusively  presumed to have been
authorized  by all necessary  corporate  action on the part of Borrower and such
Responsible  Officer shall be  conclusively  presumed to have acted on behalf of
Borrower.

         "Restricted  Subsidiary"  means each Subsidiary of Borrower that is not
an Unrestricted Subsidiary.

         "S&P"  means  Standard & Poor's  Ratings  Services,  a division  of The
McGraw-Hill  Companies,  Inc.,  or  its  successor,  or if it  is  dissolved  or
liquidated or no longer  performs the functions of a securities  rating  agency,
such  other  nationally  recognized  securities  rating  agency  agreed  upon by
Borrower and Administrative Agent and approved by Required Lenders.

         "Sale-Leaseback  Transaction" means any arrangement whereby Borrower or
any Restricted Subsidiary shall sell or transfer any property, real or personal,
used or useful in its  business,  whether now owned or hereafter  acquired,  and
thereafter rent or lease property that it intends to use for  substantially  the
same purpose or purposes as the property sold or transferred.

                                            Five-Year Revolving Credit Agreement

                                       13

<PAGE>

         "Significant   Subsidiary"   means  any  Restricted   Subsidiary  whose
Annualized  EBITDA was greater than 5% of the Annualized  EBITDA of Borrower and
its Restricted  Subsidiaries,  on a consolidated  basis, for the period ended on
the last  day of the  fiscal  quarter  most  recently  ended,  or  whose  assets
comprised  more  than 5% of the  total  assets of  Borrower  and its  Restricted
Subsidiaries,  on a consolidated basis, as of the last day of the fiscal quarter
most recently ended.

         "Subsidiary"  of a  Person  means  a  corporation,  partnership,  joint
venture,  limited liability company or other business entity of which a majority
of the shares of securities or other interests  having ordinary voting power for
the election of  directors or other  governing  body (other than  securities  or
interests  having such power only by reason of the  happening of a  contingency)
are at the time beneficially owned, directly or indirectly,  through one or more
intermediaries,  or  both,  by such  Person.  Unless  otherwise  specified,  all
references to a "Subsidiary" or to  "Subsidiaries" in this Agreement shall refer
to a Subsidiary or Subsidiaries of Borrower.

         "Swing Line" means the revolving  line of credit  established  by Swing
Line Lender in favor of Borrower pursuant to Section 2.04.

         "Swing Line Lender" means Bank of America or any  successor  swing line
Lender hereunder.

         "Swing  Line Loan"  means a Base Rate Loan made by Swing Line Lender to
Borrower under the Swing Line.

         "Swing Line Note" means a promissory  note made by Borrower in favor of
Swing Line  Lender  evidencing  Swing  Line  Loans  made by Swing  Line  Lender,
substantially in the form of Exhibit F.

         "Swing  Line  Sublimit"  means an  amount  equal to the  lesser  of (a)
$100,000,000 and (b) the combined  Commitments.  The Swing Line Sublimit is part
of, and not in addition to, the combined Commitments.

         "Syndicated  Loan Note"  means a  promissory  note made by  Borrower in
favor of a Lender (other than Swing Line Lender)  evidencing  Loans made by such
Lender,  substantially in the form of Exhibit C  (collectively,  the "Syndicated
Loan Notes").

         "364-Day  Agreement" means the 364-Day Revolving Credit Agreement dated
August 24, 2000, among Borrower,  Bank of America, N.A., as Administrative Agent
and the lenders party thereto.

         "Threshold Amount" means $200,000,000.

         "to the best  knowledge  of" means,  when  modifying a  representation,
warranty or other statement of any Person,  that the fact or situation described
therein  is known by such  Person  (or,  in the  case of a Person  other  than a
natural Person,  known by any officer of such Person) making the representation,
warranty or other statement,  or, if such Person had exercised  ordinary care in
performing his or its required duties, would have been known by such Person (or,
in the case of a Person other than a natural Person, would have been known by an
officer of such Person).

         "type" of Loan means (a) a Base Rate Loan,  (b) a Eurodollar  Rate Loan
or (c) a Swing Line Loan.

                                            Five-Year Revolving Credit Agreement

                                       14

<PAGE>

         "Unfunded  Pension  Liability"  means the  excess  of a Plan's  benefit
liabilities  under Section  4001(a)(16) of ERISA, over the current value of that
Plan's assets,  determined in accordance with the  assumptions  used for funding
the Plan pursuant to Section 412 of the Code for the applicable plan year.

         "Unrestricted  Subsidiary" means any Subsidiary of Borrower  designated
as an  "Unrestricted  Subsidiary"  from time to time in accordance  with Section
6.13.  Until so  designated,  each  Subsidiary of Borrower shall be a Restricted
Subsidiary.

         1.02 Use of Certain Terms.

              (a) All terms  defined in this  Agreement  shall have the  defined
meanings  when  used in any  certificate  or other  document  made or  delivered
pursuant hereto or thereto, unless otherwise defined therein.

              (b) As used herein,  unless the context  requires  otherwise,  the
masculine,  feminine and neuter  genders and the singular and plural include one
another.

              (c) The words "herein" and "hereunder" and words of similar import
when used in any Loan Document shall refer to the applicable  Loan Document as a
whole and not to any particular  provision  thereof.  The term "including" is by
way of example and not limitation. References herein to a Section, subsection or
clause shall,  unless the context otherwise  requires,  refer to the appropriate
Section, subsection or clause in this Agreement.

              (d) The term "or" is  disjunctive;  the term "and" is conjunctive.
The term "shall" is mandatory; the term "may" is permissive.

         1.03  Accounting  Terms.  All  accounting  terms  not  specifically  or
completely  defined in this Agreement shall be construed in conformity with, and
all financial data required to be submitted by this Agreement  shall be prepared
in conformity  with, GAAP applied on a consistent  basis, as in effect from time
to  time  in  the  United  States;  provided,  however,  that  for  purposes  of
determining  compliance  with the  covenants set forth in Section 7.07, if there
are  changes  in GAAP  after  December  31,  1999  that  materially  affect  the
calculation  of  the  covenants  in  Section  7.07  in  such a  manner  as to be
inconsistent  with  the  intent  of this  Agreement,  Administrative  Agent  and
Borrower  shall  negotiate in good faith to determine  such  adjustments  to the
method of calculating  compliance with Section 7.07 or related definitions as to
make  them  consistent  with the  intent  hereof.  Promptly  upon  Borrower  and
Administrative Agent reaching such agreement,  Administrative Agent shall notify
Lenders of such  adjustments,  which shall be conclusive unless Required Lenders
object to such adjustments within 30 days of receipt of notice.  Each Compliance
Certificate  shall be prepared in accordance with this Section 1.03,  except for
the exclusion of Unrestricted Subsidiaries from the calculations therein.

         1.04  Rounding.  Any  financial  ratios  required to be  maintained  by
Borrower  pursuant  to this  Agreement  shall  be  calculated  by  dividing  the
appropriate  component by the other component,  carrying the result to one place
more  than the  number  of  places  by which  such  ratio is  expressed  in this
Agreement  and  rounding  the result up or down to the  nearest  number  (with a
round-up  if there is no  nearest  number) to the number of places by which such
ratio is expressed in this Agreement.

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<PAGE>

         1.05  Exhibits  and  Schedules.  All  exhibits  and  schedules  to this
Agreement, either as originally existing or as the same may from time to time be
supplemented,  modified or amended, are incorporated herein by this reference. A
matter disclosed on any Schedule shall be deemed disclosed on all Schedules.

         1.06  References to Agreements  and Laws.  Unless  otherwise  expressly
provided herein, (a) references to agreements (including the Loan Documents) and
other  contractual  instruments  shall  include  all  amendments,  restatements,
extensions,  supplements and other  modifications  thereto (unless prohibited by
any Loan  Document),  and (b)  references to any Law shall include all statutory
and regulatory provisions consolidating,  amending, replacing,  supplementing or
interpreting such Law.

         1.07 Pro Forma Calculations. For the purposes of calculating Annualized
EBITDA of Borrower and its Restricted Subsidiaries, on a consolidated basis, and
Annualized  Interest Expense of Borrower and its Restricted  Subsidiaries,  on a
consolidated  basis,  for any period (a "Test Period"),  (i) if at any time from
the  period  (a "Pro  Forma  Period")  commencing  on the first day of such Test
Period and ending on the date which is ten days prior to the date of delivery of
the  Compliance  Certificate  in respect of such Test Period (or, in the case of
any pro forma calculation  required to be made pursuant hereto in respect of the
designation of a Restricted  Subsidiary as an Unrestricted  Subsidiary that is a
Material  Disposition  or the  designation  of an  Unrestricted  Subsidiary as a
Restricted  Subsidiary that is a Material  Acquisition,  ending on the date such
Material  Disposition or Material Acquisition is consummated after giving effect
thereto),  Borrower or any  Restricted  Subsidiary  shall have made any Material
Disposition,  the Annualized  EBITDA for such Test Period shall be reduced by an
amount  equal to the  Annualized  EBITDA  (if  positive)  for such  Test  Period
attributable to the assets which are the subject of such Material Disposition or
increased by an amount equal to the  Annualized  EBITDA (if  negative)  for such
Test Period  attributable to such assets,  and Annualized  Interest  Expense for
such Test Period shall be reduced by an amount equal to the Annualized  Interest
Expense for such Test Period attributable to any Indebtedness of Borrower or any
Restricted Subsidiary repaid,  repurchased,  defeased or otherwise discharged in
connection  with such  Material  Disposition  (or, if the  capital  stock of any
Restricted  Subsidiary  is  sold  (pursuant  to  a  merger  or  otherwise),  the
Annualized  Interest  Expense for such Test Period directly  attributable to the
Indebtedness  of such  Restricted  Subsidiary  to the  extent  Borrower  and its
continuing  Restricted  Subsidiaries are no longer liable for such  Indebtedness
after such Material Disposition);  (ii) if during such Pro Forma Period Borrower
or any Restricted Subsidiary shall have made a Material Acquisition,  Annualized
EBITDA of Borrower and its Restricted Subsidiaries, on a consolidated basis, and
Annualized  Interest Expense of Borrower and its Restricted  Subsidiaries,  on a
consolidated  basis,  for such Test Period shall be calculated  after giving pro
forma effect thereto (including the incurrence or assumption of any Indebtedness
in connection  therewith) as if such Material Acquisition (and the incurrence or
assumption  of any such  Indebtedness)  occurred  on the  first day of such Test
Period;  and (iii) if during such Pro Forma Period any Person that  subsequently
became a  Restricted  Subsidiary  or was  merged  with or into  Borrower  or any
Restricted  Subsidiary  since the  beginning of such Pro Forma Period shall have
entered into any Material  Disposition or Material  Acquisition  that would have
required an adjustment  pursuant to clause (i) or (ii) above if made by Borrower
or a Restricted  Subsidiary  during such Pro Forma Period,  Annualized EBITDA of
Borrower  and  its  Restricted  Subsidiaries,   on  a  consolidated  basis,  and
Annualized  Interest Expense of Borrower and its Restricted  Subsidiaries,  on a
consolidated  basis,  for such Test Period shall be calculated  after giving pro
forma effect  thereto as if such Material  Disposition  or Material  Acquisition
occurred on the first day of such Test Period. For the purposes of this section,
whenever pro forma effect is to be given to a Material  Disposition  or Material
Acquisition,  the amount of income or earnings related thereto and the amount of
Annualized  Interest  Expense  associated  with any  Indebtedness  discharged or
incurred in connection therewith, the pro forma calculations shall be determined
in good faith by a Responsible Officer of Borrower.  If any Indebtedness bears a
floating  rate of interest and the  incurrence  or  assumption  thereof is being
given pro forma effect,  the Annualized  Interest  Expense on

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<PAGE>

such  Indebtedness  shall be calculated as if the rate in effect on the last day
of the  relevant Pro Forma  Period had been the  applicable  rate for the entire
relevant Test Period (taking into account any interest rate protection agreement
applicable to such Indebtedness if such interest rate protection agreement has a
remaining term in excess of 12 months).  Comparable adjustments shall be made in
connection with any determination of Annualized EBITDA.

                                   SECTION 2.
                    THE COMMITMENTS AND EXTENSIONS OF CREDIT

         2.01 Amount and Terms of Commitments.

              (a)  Subject  to the  terms  and  conditions  set  forth  in  this
Agreement,  each Lender severally agrees to make,  Convert and Continue Loans in
Dollars until, but not including,  the Maturity Date in such amounts as Borrower
may from  time to time  request;  provided,  however,  that (i) the  Outstanding
Obligations  of each Lender  shall not exceed such  Lender's  Commitment  at any
time, and (ii) the  Outstanding  Obligations of all Lenders shall not exceed the
combined Commitments at any time. This is a revolving credit and, subject to the
foregoing  and the other  terms and  conditions  hereof,  Borrower  may  borrow,
Convert, Continue, prepay and reborrow Loans as set forth herein without premium
or penalty.

              (b) Upon the  request of any Lender  made  through  Administrative
Agent, a Lender's Loans may be evidenced by one or more Notes,  instead of or in
addition to its loan accounts or records.  Each such Lender may attach schedules
to its Note(s) and endorse  thereon the date,  amount and  maturity of its Loans
and  payments  with  respect  thereto.  Any failure so to record or any error in
doing so shall  not,  however,  limit or  otherwise  affect  the  obligation  of
Borrower to pay any amount owing with respect to the Obligations.

              (c) (i)  Administrative  Agent shall maintain,  at  Administrative
Agent's  Office,  a register for the  recordation  of the names and addresses of
Lenders and the Commitments and Extensions of Credit of each Lender from time to
time (the  "Register").  The  Register  shall be  available  for  inspection  by
Borrower  or any  Lender  at any  reasonable  time  and from  time to time  upon
reasonable  prior  notice.  Administrative  Agent shall  maintain the  Register,
acting,  solely for this administrative  purpose only, as agent for Borrower (it
being acknowledged and agreed that Administrative  Agent and each Administrative
Agent-Related  Person,  in such capacity,  shall  constitute  Indemnitees  under
Section 10.13).

                  (ii)  Administrative  Agent shall  record in the  Register the
Commitment and  Extensions of Credit from time to time of each Lender,  and each
repayment or prepayment in respect thereof.  Any recordation shall be conclusive
and  binding on Borrower  and each  Lender,  absent  manifest  error;  provided,
however,  that the  failure to make any such  recordation,  or any error in such
recordation,   shall  not  affect  any  Lender's   Commitment   or   Outstanding
Obligations.

                  (iii) Each Lender shall record on its internal  loan  accounts
or records  (and may record on the  Note(s)  held by such  Lender) the amount of
each  Extension  of  Credit  made by it and each  payment  in  respect  thereof;
provided  that the  failure to make any such  recordation,  or any error in such
recordation,   shall  not  affect  any  Lender's   Commitment   or   Outstanding
Obligations;  and  provided,  further,  that in the  event of any  inconsistency
between the Register and any Lender's records,  the recordations in the Register
shall govern, absent manifest error.

                  (iv) Borrower, Administrative Agent and the Lenders shall deem
and treat the  Persons  listed as Lenders in the  Register  as the  holders  and
owners of the corresponding  Commitments and

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<PAGE>

Extensions of Credit listed therein for all purposes  hereof,  and no assignment
or transfer of any such  Commitment  or Extensions of Credit shall be effective,
in each case,  unless  and until an  Assignment  and  Acceptance  effecting  the
assignment or transfer thereof shall have been accepted by Administrative  Agent
and recorded in the Register.  Prior to such recordation,  all amounts owed with
respect to the applicable Commitment or Outstanding Obligations shall be owed to
the  Lender  listed in the  Register  as the  owner  thereof,  and any  request,
authority  or consent of any Person who,  at the time of making such  request or
giving such authority or consent, is listed in the Register as a Lender shall be
conclusive and binding on any subsequent  holder,  assignee or transferee of the
corresponding Commitments or Outstanding Obligations.

         2.02 Borrowings, Conversions and Continuations of Loans.

              (a) Borrower may  irrevocably  request a Borrowing,  Conversion or
Continuation  of Loans on any  Business  Day in a  Minimum  Amount  therefor  by
delivering  a Request for  Extension of Credit  therefor by Requisite  Notice to
Administrative Agent not later than the Requisite Time therefor. All Borrowings,
Conversions and  Continuations  shall constitute Base Rate Loans unless properly
and timely otherwise designated as set forth in the prior sentence.

              (b)  Following  receipt  of a Request  for  Extension  of  Credit,
Administrative  Agent shall promptly  notify each Lender by Requisite  Notice of
its Pro Rata Share  thereof.  In the case of a Borrowing  of Loans,  each Lender
shall  make  the  funds  for its  Loan  available  to  Administrative  Agent  at
Administrative  Agent's Office not later than the Requisite Time therefor on the
Business  Day  specified  in  such  Request  for   Extension  of  Credit.   Upon
satisfaction  of the  applicable  conditions  set  forth  in  Section  4.02  (if
applicable to such Extension of Credit) (and, if the initial Extension of Credit
hereunder,  Section  4.01),  all funds so received  shall be made  available  to
Borrower in like funds  received.  Administrative  Agent shall  promptly  notify
Borrower and Lenders of the interest rate applicable to any Eurodollar Rate Loan
upon determination of same.  Administrative Agent shall from time to time notify
Borrower  and  Lenders  of any  change in Bank of  America's  prime rate used in
determining  the Base Rate promptly  following the public  announcement  of such
change.

              (c) Unless  Borrower  pays all amounts due under  Section 3.05, if
any, a Eurodollar  Rate Loan may be Continued or Converted  only on the last day
of the Interest Period for such Eurodollar Rate Loan. During the existence of an
Event of  Default,  the  Administrative  Agent may (and upon the  request of the
Required  Lenders shall) prohibit Loans from being requested as, Converted into,
or Continued as Eurodollar Rate Loans,  and Required Lenders may demand that any
or all of the then  outstanding  Eurodollar Rate Loans be Converted  immediately
into Base Rate Loans.

              (d) The  failure  of any Lender to make any Loan on any date shall
not relieve any other Lender of any  obligation to make a Loan on such date, but
no Lender  shall be  responsible  for the failure of any other Lender to so make
its Loan.

         2.03 Letters of Credit.

              (a)  Subject  to the  terms  and  conditions  set  forth  in  this
Agreement,  until, but not including, the Letter of Credit Expiration Date, each
Issuing Lender shall take such Letter of Credit  Actions  denominated in Dollars
as  Borrower  may from time to time  request;  provided,  however,  that (i) the
Outstanding Obligations of each Lender shall not exceed such Lender's Commitment
at any time,  (ii) the  Outstanding  Obligations of all Lenders shall not exceed
the combined  Commitments at any time and (iii) the Letter of Credit Usage shall
not exceed the Letter of Credit  Sublimit at any time.  The Existing  Letters of
Credit shall

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                                       18

<PAGE>

be deemed to be Letters of Credit  issued  hereunder  on the Closing Date at the
request  and for the  account  of  Borrower  and  Borrower  hereby  assumes  the
obligations  of the existing  obligor(s) to the Issuing  Lenders with respect to
the  Existing  Letters of Credit.  Subject  to  subsection  (f) below and unless
consented to by the applicable  Issuing  Lender and  Administrative  Agent,  and
except for any Existing Letter of Credit which expires more than 12 months after
the date of its  issuance or last  renewal,  no Letter of Credit may expire more
than 12  months  after  the  date of its  issuance  or last  renewal;  provided,
however,  that no Letter of Credit  shall expire after the Business Day which is
at least five days prior to the  Maturity  Date.  If any Letter of Credit  Usage
remains  outstanding on the Maturity Date, Borrower shall, on the Maturity Date,
deposit  cash in an amount  equal to such Letter of Credit  Usage in a Letter of
Credit Cash Collateral Account.

              (b) Borrower may irrevocably  request a Letter of Credit Action in
a Minimum Amount therefor by delivering a Letter of Credit Application  therefor
to the applicable Issuing Lender, with a copy to Administrative Agent, not later
than the  Requisite  Time  therefor.  Each Letter of Credit Action shall be in a
form acceptable to the applicable  Issuing Lender in its sole  discretion.  Each
such request for a Letter of Credit  Action shall,  if Sections  4.02(a) and (b)
are applicable to such Letter of Credit Action,  constitute a representation and
warranty by Borrower that the conditions  set forth in Sections  4.02(a) and (b)
are satisfied.  Unless  Administrative  Agent  notifies the  applicable  Issuing
Lender  that such Letter of Credit  Action is not  permitted  hereunder,  or the
applicable Issuing Lender notifies  Administrative  Agent that it has determined
that such  Letter of Credit  Action is  contrary to any Laws or policies of such
Issuing Lender, the applicable Issuing Lender shall effect such Letter of Credit
Action.  This  Agreement  shall  control in the event of any  conflict  with any
Letter of Credit Application.  Upon the issuance of a Letter of Credit (or, with
respect to the Existing Letters of Credit, on the Closing Date), each applicable
Issuing Lender shall be deemed to have sold and transferred to each Lender,  and
each  Lender  shall be deemed to have  purchased  from each  applicable  Issuing
Lender,  a  participation  therein in an amount equal to such  Lender's Pro Rata
Share times the amount of such Letter of Credit.  Each applicable Issuing Lender
represents  and  warrants  to each Lender  that it has all  necessary  power and
authority to sell and transfer such participation to each Lender, without breach
of any Contractual  Obligation to any other Person,  and that such participation
is free and clear of any adverse claim. As soon as is reasonably  possible after
the Closing Date,  each Issuing Lender of an Existing Letter of Credit agrees to
release and discharge, or to be caused to be released and discharged,  any Liens
on any assets of Borrower or any of its  Restricted  Subsidiaries  securing  the
reimbursement  and other  obligations  to such Issuing Lender in respect of such
Existing Letter of Credit.

              (c)  Borrower   shall   reimburse   each  Issuing  Lender  through
Administrative  Agent for any payment  that such  Issuing  Lender  makes under a
Letter of Credit immediately upon demand by Administrative Agent or such Issuing
Lender in Dollars; provided, however, that if the conditions precedent set forth
in Section 4.02 can be satisfied,  Borrower may request a Borrowing of Base Rate
Loans to reimburse such Issuing Lender for such payment pursuant to Section 2.02
(subject to the Minimum  Amount  requirements  thereof) or Section 2.04 (without
regard to the Minimum Amount requirements thereof).

              (d) Upon any  drawing  under a Letter of  Credit,  the  applicable
Issuing Lender shall notify Administrative Agent and Borrower. If Borrower fails
to timely  make the payment  required  pursuant to  subsection  (c) above,  such
Issuing Lender shall notify  Administrative Agent of such fact and the amount of
such  unreimbursed  payment.  Administrative  Agent shall  promptly  notify each
Lender of its Pro Rata Share of such  amount by  Requisite  Notice.  Each Lender
shall  make  funds  in an  amount  equal to its Pro  Rata  Share of such  amount
available to  Administrative  Agent at  Administrative  Agent's Office not later
than the Requisite Time therefor on the Business Day specified by Administrative
Agent.  Administrative  Agent shall remit the funds so received to such  Issuing
Lender.  The obligation of each Lender to so reimburse such Issuing Lender shall
be absolute and  unconditional  and shall not be affected by the occurrence of a
Default

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<PAGE>

or Event of Default or any other occurrence or event; provided that such Issuing
Lender  shall not have a right to be so  reimbursed  in  respect  of a Letter of
Credit if such  Lender  issued such  Letter of Credit  after  being  notified by
Administrative  Agent that such issuance was not permitted  hereunder.  Any such
reimbursement  shall not relieve or otherwise  impair the obligation of Borrower
to  reimburse  each  Issuing  Lender for the amount of any payment  made by such
Issuing  Lender under any Letter of Credit,  together  with interest as provided
herein.

              (e) If the  conditions  precedent set forth in Section 4.02 can be
satisfied  (except for the giving of a Request for  Extension  of Credit) on any
date Borrower is obligated to, but fails to,  reimburse an Issuing  Lender for a
drawing under a Letter of Credit,  the funding by Lenders pursuant to subsection
(d) above shall be deemed to be a Borrowing of Base Rate Loans  (without  regard
to the  Minimum  Amount  therefor).  If the  conditions  precedent  set forth in
Section 4.02 cannot be satisfied on the date Borrower is obligated to, but fails
to,  reimburse  an Issuing  Lender for a drawing  under a Letter of Credit,  the
funding by Lenders  pursuant to the previous  subsection shall be deemed to be a
funding by each Lender of its  participation in such Letter of Credit,  and each
Lender making such funding shall thereupon acquire a pro rata participation,  to
the extent of its payment,  in the claim of such Issuing Lender against Borrower
in respect of such payment and shall  share,  in  accordance  with that pro rata
participation,  in any payment made by Borrower with respect to such claim.  Any
amounts made available by a Lender under its  participation  shall be payable by
Borrower upon demand of Administrative  Agent, and shall bear interest at a rate
per annum equal to the Default Rate.

              (f)  Borrower  may request  Letters of Credit that have  automatic
extension or renewal provisions  ("evergreen" Letters of Credit), so long as the
applicable  Issuing Lender consents in its sole and absolute  discretion thereto
and has the right not to permit any such  extension or renewal at least annually
within a notice  period to be agreed upon at the time each such Letter of Credit
is issued.  Once an evergreen Letter of Credit (including any Existing Letter of
Credit) is issued,  unless  Administrative  Agent has  notified  the  applicable
Issuing  Lender that Required  Lenders have elected not to permit such extension
or renewal,  Borrower,  Administrative Agent and Lenders shall be deemed to have
authorized  (but  may not  require)  such  Issuing  Lender  to,  in its sole and
absolute  discretion,  permit the renewal of such evergreen  Letter of Credit at
any time to a date not later than five Business Days prior to the Maturity Date.
Such  Issuing  Lender may,  in its sole and  absolute  discretion,  elect not to
permit an evergreen  Letter of Credit to be extended or renewed at any time.  If
such Issuing Lender so elects, it will promptly give Administrative Agent notice
of such  election.  Administrative  Agent will  promptly  notify  Lenders of the
non-extension or non-renewal of any evergreen Letter of Credit.

              (g) The  obligation of Borrower to pay to each Issuing  Lender the
amount of any payment  made by such  Issuing  Lender  under any Letter of Credit
shall  be  absolute,   unconditional,  and  irrevocable.  Without  limiting  the
foregoing,  Borrower's  obligation shall not be affected by any of the following
circumstances:

                  (i) Any lack of validity or  enforceability  of such Letter of
         Credit,  this Agreement,  or any other agreement or instrument relating
         thereto;

                  (ii) Any  amendment  or waiver of or any consent to  departure
         from such Letter of Credit,  this  Agreement or any other  agreement or
         instrument relating hereto or thereto;

                  (iii) The  existence  of any claim,  setoff,  defense or other
         rights which Borrower may have at any time against such Issuing Lender,
         Administrative  Agent or any Lender,  any beneficiary of such Letter of
         Credit (or any persons or entities for whom any such beneficiary may be
         acting) or

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<PAGE>

         any other  Person,  whether in  connection  with such Letter of Credit,
         this Agreement or any other agreement or instrument  relating  thereto,
         or any unrelated transactions;

                  (iv) Any demand,  statement  or any other  document  presented
         under such Letter of Credit proving to be forged,  fraudulent,  invalid
         or insufficient in any respect or any statement therein being untrue or
         inaccurate  in any  respect  whatsoever  so long as any  such  document
         appeared to comply with the terms of such Letter of Credit;

                  (v) Any  payment by such  Issuing  Lender in good faith  under
         such  Letter  of  Credit  against   presentation  of  a  draft  or  any
         accompanying  document which does not strictly comply with the terms of
         such Letter of Credit, or any payment made by such Issuing Lender under
         such  Letter of  Credit to any  Person  purporting  to be a trustee  in
         bankruptcy,   debtor-in-possession,   assignee   for  the   benefit  of
         creditors,   liquidation,   receiver  or  other  representative  of  or
         successor  to any  beneficiary  or any  transferee  of such  Letter  of
         Credit,  including any arising in connection with any proceeding  under
         any Debtor Relief Laws;

                  (vi) Any error in the  transmission of any message relating to
         such Letter of Credit not caused by such Issuing  Lender,  or any delay
         or interruption in any such message;

                  (vii) Any error,  neglect or default of any  correspondent  of
         such Issuing Lender in connection with such Letter of Credit;

                  (viii)  Any  consequence  arising  from  acts  of  God,  wars,
         insurrections,  civil unrest,  disturbances,  labor disputes, emergency
         conditions or other causes beyond the control of such Issuing Lender;

                  (ix) So long as such Issuing  Lender in good faith  determines
         that the  document  appears to comply  with the terms of such Letter of
         Credit, the form, accuracy, genuineness or legal effect of any contract
         or  document  referred to in any  document  submitted  to such  Issuing
         Lender in connection with such Letter of Credit; and

                  (x) Any other  circumstances  whatsoever  where  such  Issuing
         Lender has acted in good faith.

         In addition,  Borrower will  promptly  examine a copy of each Letter of
Credit and amendments  thereto delivered to it and, in the event of any claim of
noncompliance with Borrower's instructions or other irregularity,  Borrower will
immediately notify the applicable  Issuing Lender in writing.  Borrower shall be
conclusively  deemed to have waived any such claim  against such Issuing  Lender
and its correspondents unless such notice is given as aforesaid.

              (h) Each Lender and  Borrower  agree  that,  in paying any drawing
under a Letter of Credit,  no Issuing  Lender shall have any  responsibility  to
obtain any document  (other than any sight  draft,  certificates  and  documents
expressly required by the Letter of Credit) or to ascertain or inquire as to the
validity  or  accuracy  of any such  document  or the  authority  of the  Person
executing or delivering any such  document.  No Issuing  Lender,  Administrative
Agent-Related  Person or any of the respective  correspondents,  participants or
assignees  of any  Issuing  Lender  shall be liable to any Lender for any action
taken or omitted in  connection  herewith at the request or with the approval of
Lenders or Required Lenders,  as applicable,  any action taken or omitted in the
absence of gross negligence or willful misconduct or the due execution,

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<PAGE>

effectiveness,  validity or enforceability of any document or instrument related
to any  Letter  of  Credit.  Borrower  hereby  assumes  all risks of the acts or
omissions of any beneficiary or transferee  relative to any Issuing Lender,  any
Lender or any Administrative Agent-Related Person with respect to its use of any
Letter of Credit;  provided,  however,  that this assumption is not intended to,
and shall not, preclude  Borrower's  pursuing such rights and remedies as it may
have against the beneficiary or transferee at law or under any other  agreement.
No Issuing Lender,  Administrative Agent-Related Person or any of the respective
correspondents,  participants or assignees of any Issuing Lender shall be liable
or responsible  for any of the matters  described in subsection (g) above in the
absence of such Person's gross negligence or willful misconduct.  In furtherance
and not in limitation of the foregoing,  any Issuing Lender may accept documents
that  appear on their face to be in order,  without  responsibility  for further
investigation, regardless of any notice or information to the contrary, and such
Issuing Lender shall not be  responsible  for the validity or sufficiency of any
instrument  transferring  or  assigning  or  purporting  to transfer or assign a
Letter of Credit or the rights or benefits  thereunder or proceeds  thereof,  in
whole or in part, which may prove to be invalid or ineffective for any reason.

              (i) Unless otherwise  expressly  agreed by the applicable  Issuing
Lender and Borrower  when a Letter of Credit is issued and subject to applicable
Laws,   performance  under  Letters  of  Credit  by  each  Issuing  Lender,  its
correspondents,  and  beneficiaries  will  be  governed  by  the  rules  of  the
International  Standby Practices 1998 or such later revision as may be published
by the Institute of International Banking Law & Practice,  subject to applicable
Laws.

              (j) Borrower shall pay to Administrative  Agent on each Applicable
Payment Date in arrears,  for the account of each Lender in accordance  with its
Pro Rata Share, a Letter of Credit fee equal to the Applicable  Amount times the
actual daily  maximum  amount  available to be drawn under each Letter of Credit
since the later of the Closing Date and the previous  Applicable  Payment  Date.
Borrower  shall pay  directly to each  Issuing  Lender of an Existing  Letter of
Credit any fees and  expenses  payable in  respect  of such  Existing  Letter of
Credit for any period prior to the Closing  Date.  If there is any change in the
Applicable Amount during any quarter,  the actual daily amount shall be computed
and multiplied by the Applicable  Amount  separately for each period during such
quarter that such Applicable Amount was in effect.

              (k) Borrower  shall pay directly to each Issuing  Lender,  for its
sole  account,  a fronting  fee for each  Letter of Credit in such amount and at
such times as may be set forth in a separate letter  agreement  between Borrower
and such  Issuing  Lender.  In  addition,  Borrower  shall pay  directly to each
Issuing Lender, upon demand, for its sole account, its customary documentary and
processing  charges in accordance  with its standard  schedule,  as from time to
time in effect, for any Letter of Credit Action or other occurrence  relating to
a Letter of Credit for which such charges are  customarily  made.  Such fees and
charges are nonrefundable.

              (l) Each Issuing Lender shall deliver to Administrative Agent, not
later than the 20th day after each  calendar  quarter  ending  after the Closing
Date, a written report, in form reasonably satisfactory to Administrative Agent,
setting  forth  the  Letters  of  Credit  issued  by  such  Issuing  Lender  and
outstanding  as of the last day of such calendar  quarter,  any Letter of Credit
Actions  effected  during such calendar  quarter,  and any draws made under such
Letters of Credit during such calendar quarter.

                                            Five-Year Revolving Credit Agreement

                                       22

<PAGE>

         2.04 Swing Line Loans.

              (a)  Subject  to the  terms  and  conditions  set  forth  in  this
Agreement,  Swing Line Lender agrees to make Swing Line Loans in Dollars  until,
but not including the Maturity Date in such amounts as Borrower may from time to
time request; provided,  however, that (i) the aggregate principal amount of all
Swing Line Loans shall not exceed the Swing Line Sublimit at any time,  (ii) the
Outstanding Obligations of each Lender (excluding Swing Line Lender's Swing Line
Loans)  shall not  exceed  such  Lender's  Commitment  at any time and (iii) the
Outstanding Obligations of all Lenders shall not exceed the combined Commitments
at any time.  This is a revolving  credit and,  subject to the foregoing and the
other terms and  conditions  hereof,  Borrower  may borrow,  prepay and reborrow
Swing Line Loans as set forth herein without premium or penalty. Each Swing Line
Loan shall be a Base Rate Loan.

              (b) Unless notified to the contrary by Swing Line Lender, Borrower
may  irrevocably  request a Swing Line Loan in the Minimum Amount  therefor upon
Requisite  Notice  to Swing  Line  Lender  not  later  than the  Requisite  Time
therefor.   Each  such  request  for  a  Swing  Line  Loan  shall  constitute  a
representation  and  warranty  by  Borrower  that the  conditions  set  forth in
Sections 4.02(a) and (b) are satisfied.  Promptly after receipt of such request,
Swing Line Lender shall obtain telephonic verification from Administrative Agent
that  such  Swing  Line  Loan  is  permitted  hereunder.   Upon  receiving  such
verification,  Swing Line Lender  shall make such Swing Line Loan  available  to
Borrower.  Upon the making of each Swing Line Loan,  each Lender shall be deemed
to have  purchased  from Swing Line  Lender a risk  participation  therein in an
amount equal to such  Lender's Pro Rata Share times the amount of the Swing Line
Loan.

              (c) Swing Line Lender shall be responsible for invoicing  Borrower
(or notifying  Administrative  Agent to so invoice Borrower) for interest on the
Swing Line Loans. Unless and until any Swing Line Loan is converted into another
type of Loan or a  funding  by  Lenders  of  their  participation  therein,  the
interest  payable on Swing  Line  Loans is solely for the  account of Swing Line
Lender.

              (d)  Borrower  shall repay each Swing Line Loan not later than the
Requisite  Time for  payments  hereunder  on the  earliest of (i) demand made by
Swing Line Lender  (with a copy to  Administrative  Agent) and (ii) the Maturity
Date.  Payments shall be made to  Administrative  Agent for the account of Swing
Line  Lender.  If the  conditions  precedent  set forth in  Section  4.02 can be
satisfied,  Borrower may request a Borrowing of Loans to repay Swing Line Lender
pursuant to Section 2.02.

              (e) If Swing Line Lender does not timely  receive (by payment or a
Borrowing)  any payment of principal  of any Swing Line Loan,  Swing Line Lender
shall  notify   Administrative  Agent  of  such  fact  and  the  unpaid  amount.
Administrative  Agent shall promptly notify each Lender of its Pro Rata Share of
such unpaid amount by Requisite Notice,  and each Lender shall make its Pro Rata
Share of such unpaid amount available to Administrative  Agent at Administrative
Agent's Office not later than the Requisite  Time. The obligation of each Lender
to make  such  payment  shall be  absolute  and  unconditional  and shall not be
affected by the  occurrence  of any Event of Default or any other event.  If the
conditions  precedent set forth in Section 4.02 can be satisfied (except for the
giving of a Request for  Extension of Credit) on any date  Borrower is obligated
to but fails to,  repay Swing Line  Lender,  the funding by Lenders  pursuant to
this  subsection  (e)  shall be  deemed to be a  Borrowing  of Base  Rate  Loans
(without regard to the Minimum Amount therefor). If the conditions precedent set
forth in Section 4.02 cannot be satisfied on such date,  each  Lender's  payment
shall be deemed to be a funding  of such  Lender's  participation  in such Swing
Line Loan,  and each Lender  making such funding shall  thereupon  acquire a pro
rata  participation,  to the extent of its  payment,  in the claim of Swing Line
Lender  against  Borrower  in  respect  of such  payment  and  shall  share,  in
accordance  with that pro rata  participation,  in any payment  made by Borrower
with respect to such claim. Any amounts made

                                            Five-Year Revolving Credit Agreement

                                       23

<PAGE>

available  by a Lender  under its  participation  shall not relieve or otherwise
impair the  obligation  of Borrower to repay Swing Line Lender for any amount of
Swing Line Loans,  together with interest as provided  herein,  and such amounts
made available shall be payable by Borrower upon demand of Administrative Agent,
and shall bear interest at a rate per annum equal to the Default Rate.

         2.05 Prepayments.

              (a) Upon Requisite Notice to  Administrative  Agent not later than
the  Requisite  Time  therefor,  Borrower  may at any time and from time to time
voluntarily  prepay  Loans in part in the  Minimum  Amount  therefor  or in full
without  premium or  penalty.  Administrative  Agent will  promptly  notify each
Lender  thereof  and of such  Lender's  Pro Rata Share of such  prepayment.  Any
prepayment  of a  Eurodollar  Rate  Loan  shall be  accompanied  by all  accrued
interest thereon, together with the costs set forth in Section 3.05.

              (b) Upon  Requisite  Notice to Swing Line  Lender  (with a copy to
Administrative  Agent) not later than the Requisite Time therefor,  Borrower may
at any time and from time to time voluntarily prepay Swing Line Loans in part in
the Minimum Amount or in full without premium or penalty.

              (c) If for any reason the  amount of the  Outstanding  Obligations
exceeds the combined  Commitments  from time to time in effect,  Borrower  shall
immediately  prepay  Loans  and/or  deposit  cash in a  Letter  of  Credit  Cash
Collateral Account in an aggregate amount equal to such excess.

         2.06 Reduction or Termination of Commitments.  Upon Requisite Notice to
Administrative Agent not later than the Requisite Time therefor, Borrower may at
any time and from time to time,  without  premium or  penalty,  permanently  and
irrevocably reduce the Commitments in a Minimum Amount therefor to an amount not
less than the Outstanding Obligations at such time or terminate the Commitments.
Any such reduction or termination shall be accompanied by payment of all accrued
and unpaid  facility fees with respect to the portion of the  Commitments  being
reduced or terminated. Administrative Agent shall promptly notify Lenders of any
such request for  reduction or  termination  of the  Commitments.  Each Lender's
Commitment  shall be reduced by an amount equal to such  Lender's Pro Rata Share
times the amount of such reduction.

         2.07 Principal and Interest.

              (a) Except as otherwise  provided  hereunder,  if not sooner paid,
Borrower hereby promises to pay the outstanding principal amount of each Loan on
the Maturity Date.

              (b)  Subject  to  subsection  (c)  below,   and  unless  otherwise
specified  herein,  Borrower  hereby  promises  to pay  interest  on the  unpaid
principal  amount  of each Loan  (before  and after  default,  before  and after
maturity, before and after judgment and before and after the commencement of any
proceeding  under any Debtor Relief Laws) from the date  borrowed  until paid in
full (whether by acceleration or otherwise) on each Applicable Payment Date at a
rate per annum equal to the interest  rate  determined  in  accordance  with the
definition of such type of Loan,  plus,  to the extent  applicable in each case,
the Applicable Amount for such type of Loan.

              (c)  Beginning  on the date that an Event of Default  occurs under
Sections  8.01 or 8.02 and  continuing  until the date such  Event of Default no
longer exists,  Borrower hereby promises to pay interest on the unpaid principal
amount  of each  Loan  (before  or after  judgment  and  before  and  after  the
commencement of any proceeding under any Debtor Relief Laws) at a rate per annum
equal to the Default

                                            Five-Year Revolving Credit Agreement

                                       24

<PAGE>

Rate. In addition,  if any amount payable by Borrower under any Loan Document is
not paid when due (without  regard to any applicable  grace  periods),  Borrower
hereby  promises  to pay  interest  (after as well as before  entry of  judgment
thereon to the extent permitted by law) on such amount at a fluctuating interest
rate per annum at all times  equal to the  Default  Rate to the  fullest  extent
permitted by  applicable  Law.  Accrued and unpaid  interest on past due amounts
(including interest on past due interest) shall be payable upon demand.

              On any Business Day,  Borrower may call  Administrative  Agent and
request  information as to the then current  Eurodollar  Base Rate or Base Rate,
and Administrative Agent shall provide such information.

         2.08 Fees.

              (a) Facility Fee. Borrower shall pay to  Administrative  Agent for
the account of each Lender pro rata  according  to its Pro Rata Share a facility
fee  equal to the  Applicable  Amount  times  the  actual  daily  amount  of its
Commitment, regardless of usage. The facility fee shall accrue at all times from
the  Closing  Date until the  Maturity  Date and shall be payable  quarterly  in
arrears  on  each  Applicable  Payment  Date.  If  there  is any  change  in the
Applicable Amount during any quarter,  the actual daily amount shall be computed
and multiplied by the Applicable  Amount  separately for each period during such
quarter that such Applicable Amount was in effect. The facility fee shall accrue
at all times,  including  at any time  during  which one or more  conditions  in
Section 4 are not met.

              (b) Utilization Fee.  Borrower shall pay to  Administrative  Agent
for the  account of each  Lender pro rata  according  to its Pro Rata  Share,  a
utilization fee, equal to the Applicable Amount times the outstanding  principal
amount of Loans  (including  Letter of Credit Usage for this purpose),  for each
day that the sum of (i) the  Outstanding  Obligations  on such day plus (ii) the
aggregate  outstanding  principal  amount of "Loans," as such term is defined in
the 364-Day  Agreement,  on such day exceeds 33% of the sum of (x) the  combined
Commitments  on such day plus (y) the  combined  "Commitments,"  as such term is
defined in the 364-Day  Agreement,  on such day.  The  utilization  fee shall be
payable  quarterly in arrears on each  Applicable  Payment Date. The utilization
fee shall accrue at all applicable times, including at any time during which one
or more conditions in Section 4 are not met.

              (c) Agency  Fee.  Borrower  shall pay to  Administrative  Agent an
agency fee in such  amounts and at such times as set forth in a separate  letter
agreement between Borrower and  Administrative  Agent. The agency fee is for the
services to be performed  by  Administrative  Agent in acting as  Administrative
Agent  and  is  fully  earned  on  the  date  paid.   The  agency  fee  paid  to
Administrative Agent is solely for its own account and is nonrefundable.

              (d)  Arrangement  Fee. On the Closing Date,  Borrower shall pay to
each Lead  Arranger  an  arrangement  fee in the  amount set forth in a separate
letter  agreement  among Borrower,  each Lead Arranger,  Bank of America and The
Chase Manhattan Bank. Such  arrangement fee is for the services of each Arranger
in  arranging  the  credit  facilities  under  this  Agreement  and the  364-Day
Agreement and is fully earned on the date paid. The arrangement fee paid to each
Lead Arranger is solely for its own account and is nonrefundable.

              (e) Lenders' Upfront Fee. On the Closing Date,  Borrower shall pay
to  Administrative  Agent,  for the  respective  accounts  of  Lenders  pro rata
according to their  respective Pro Rata Shares,  an upfront fee in an amount set
forth in a separate letter agreement among Borrower, each Lead Arranger, Bank of
America

                                            Five-Year Revolving Credit Agreement

                                       25

<PAGE>

and The Chase Manhattan  Bank.  Such upfront fees are for the credit  facilities
committed by Lenders under this Agreement and are fully earned on the date paid.
The  upfront  fees paid to  Lenders  are solely  for their own  account  and are
nonrefundable.

         2.09 Computation of Interest and Fees.  Computation of interest on Base
Rate Loans when the Base Rate is  determined  by Bank of America's  "prime rate"
shall be  calculated  on the basis of a year of 365 or 366 days, as the case may
be, and the actual  number of days  elapsed.  Computation  of all other types of
interest and all fees shall be calculated on the basis of a year of 360 days and
the actual  number of days elapsed.  Interest  shall accrue on each Loan for the
day on which the Loan is made,  and shall not accrue on a Loan,  or any  portion
thereof,  for the day on which the Loan or such portion is paid,  provided  that
any Loan that is repaid on the same day on which it is made shall bear  interest
for one day.

         2.10 Making Payments.

              (a) Except as otherwise  provided herein, all payments by Borrower
or any Lender hereunder shall be made to Administrative  Agent at Administrative
Agent's Office not later than the Requisite  Time for such type of payment.  All
payments received after such Requisite Time shall be deemed received on the next
succeeding  Business Day for purposes of the  calculation  of interest and fees,
but not for purposes of determining whether a Default has occurred. All payments
of  principal  and  interest  shall be made in  immediately  available  funds in
Dollars.  All payments by Borrower shall be made without  condition or deduction
for any counterclaim, defense, recoupment or setoff.

              (b) Upon  satisfaction of any applicable  terms and conditions set
forth herein,  Administrative  Agent shall promptly make any amounts received in
accordance with Section 2.10(a) available in like funds received as follows: (i)
if payable to Borrower,  by crediting a deposit account  designated from time to
time by  Borrower  to  Administrative  Agent by  Requisite  Notice,  and (ii) if
payable to any Lender, by wire transfer to such Lender at its Lending Office. If
such  conditions  are not so  satisfied,  Administrative  Agent shall return any
funds  it is  holding  to the  Lenders  making  such  funds  available,  without
interest.

              (c) Subject to the definition of "Interest Period," if any payment
to be made by  Borrower  shall  come due on a day  other  than a  Business  Day,
payment shall instead be considered due on the next succeeding Business Day, and
such extension of time shall be reflected in computing interest and fees.

              (d) Unless  Borrower  or any Lender  has  notified  Administrative
Agent,  prior to the Requisite Time any payment to be made by it is due, that it
does not intend to remit such payment, Administrative Agent may, in its sole and
absolute  discretion,  assume that Borrower or such Lender,  as the case may be,
has timely  remitted  such payment and may, in its sole and absolute  discretion
and in reliance  thereon,  make such payment  available  to the Person  entitled
thereto.  If such payment was not in fact  remitted to  Administrative  Agent in
immediately available funds, then:

                  (i) If Borrower failed to make such payment, each Lender shall
         forthwith  on demand repay to  Administrative  Agent the amount of such
         assumed  payment made available to such Lender,  together with interest
         thereon in respect of each day from and  including the date such amount
         was made available by  Administrative  Agent to such Lender to the date
         such  amount is repaid to  Administrative  Agent at the  Federal  Funds
         Rate; and

                  (ii) If any Lender failed to make such payment, Administrative
         Agent shall be entitled to recover such corresponding  amount on demand
         from such Lender. If such Lender does not pay

                                            Five-Year Revolving Credit Agreement

                                       26

<PAGE>

         such corresponding amount upon Administrative  Agent's demand therefor,
         Administrative Agent promptly shall notify Borrower, and Borrower shall
         pay such corresponding amount to Administrative  Agent.  Administrative
         Agent also shall be entitled to recover interest on such  corresponding
         amount in respect of each day from the date such  corresponding  amount
         was made available by Administrative Agent to Borrower to the date such
         corresponding  amount is recovered by  Administrative  Agent,  (A) from
         such Lender at a rate per annum equal to the  Federal  Funds Rate,  and
         (B) from  Borrower,  at a rate per  annum  equal to the  interest  rate
         applicable to such Borrowing. Nothing herein shall be deemed to relieve
         any  Lender  from  its  obligation  to  fulfill  its  Commitment  or to
         prejudice  any rights which  Administrative  Agent or Borrower may have
         against any Lender as a result of any default by such Lender hereunder.

              (e) If Administrative  Agent or any Lender is required at any time
to return to Borrower, or to a trustee, receiver,  liquidator,  custodian or any
official under any proceeding under Debtor Relief Laws, any portion of a payment
made by Borrower,  each Lender shall, on demand of Administrative  Agent, return
its share of the amount to be returned,  plus interest  thereon from the date of
such  demand to the date such  payment is made at a rate per annum  equal to the
Federal Funds Rate.

         2.11  Funding  Sources.  Nothing in this  Agreement  shall be deemed to
obligate any Lender to obtain the funds for any Loan in any particular  place or
manner or to constitute a  representation  by any Lender that it has obtained or
will obtain the funds for any Loan in any particular place or manner.

                                   SECTION 3.
                     TAXES, YIELD PROTECTION AND ILLEGALITY

         3.01 Taxes.

              (a) Any and all  payments  by  Borrower  to or for the  account of
Administrative  Agent or any Lender under any Loan  Document  shall be made free
and clear of and  without  deduction  for any and all  present or future  taxes,
duties, levies, imposts, deductions,  assessments, fees, withholdings or similar
charges,  and all liabilities  with respect thereto,  excluding,  in the case of
Administrative  Agent and each Lender,  taxes  imposed on or measured by its net
income, and franchise taxes imposed on it, by the jurisdiction (or any political
subdivision  thereof)  under  the  Laws of  which  Administrative  Agent or such
Lender, as the case may be, is organized or maintains a Lending Office (all such
non-excluded taxes, duties,  levies,  imposts,  deductions,  assessments,  fees,
withholdings or similar charges,  and liabilities being hereinafter  referred to
as "Taxes").  If Borrower shall be required by any Laws to deduct any Taxes from
or in respect of any sum payable under any Loan Document to Administrative Agent
or any Lender, (i) the sum payable shall be increased as necessary so that after
making all required deductions  (including  deductions  applicable to additional
sums payable under this Section),  Administrative  Agent and such Lender receive
an amount equal to the sum it would have  received had no such  deductions  been
made,  (ii) Borrower  shall make such  deductions,  (iii) Borrower shall pay the
full amount  deducted to the relevant  taxation  authority or other authority in
accordance with applicable  Laws, and (iv) within 30 days after the date of such
payment,  Borrower shall furnish to Administrative  Agent (who shall forward the
same to such  Lender) the original or a certified  copy of a receipt  evidencing
payment thereof.

              (b) In  addition,  Borrower  agrees to pay any and all  present or
future stamp,  court or documentary taxes and any other excise or property taxes
or charges or similar levies which arise from any payment made

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                                       27

<PAGE>

under  any  Loan  Document  or  from  the  execution,   delivery,   performance,
enforcement or registration  of, or otherwise with respect to, any Loan Document
(hereinafter referred to as "Other Taxes").

              (c) If  Borrower  shall be  required to deduct or pay any Taxes or
Other  Taxes from or in respect of any sum  payable  under any Loan  Document to
Administrative  Agent or any Lender,  Borrower shall also pay to  Administrative
Agent or such Lender such additional  amount that  Administrative  Agent or such
Lender  specifies as necessary to preserve the after-tax yield (after  factoring
in all  taxes,  including  taxes  imposed on or  measured  by net  income)  that
Administrative  Agent or such Lender would have  received if such Taxes or Other
Taxes had not been imposed.

              (d)  Borrower  agrees to indemnify  Administrative  Agent and each
Lender  for the full  amount of Taxes and Other  Taxes  (including  any Taxes or
Other Taxes  imposed or asserted by any  jurisdiction  on amounts  payable under
this  Section) paid by  Administrative  Agent and such Lender,  amounts  payable
under  Section  3.01(c) and any  liability  (including  penalties,  interest and
expenses) arising therefrom or with respect thereto.

              (e)  Notwithstanding  anything to the  contrary  contained in this
Section 3.01, all  obligations of Borrower to any Lender under this Section 3.01
shall be subject to, and  conditioned  upon such  Lender's  compliance  with its
obligations, if any, under, Section 10.20.

         3.02  Illegality.  If any Lender  determines that any Laws have made it
unlawful,  or that any Governmental  Authority has asserted that it is unlawful,
for such  Lender or its  applicable  Lending  Office to make,  maintain  or fund
Eurodollar Rate Loans,  or materially  restricts the authority of such Lender to
purchase or sell, or to take  deposits of,  Dollars in the  applicable  offshore
interbank  market,  or to  determine  or charge  interest  rates  based upon the
Eurodollar  Rate,  then,  on notice  thereof by such Lender to Borrower  through
Administrative  Agent,  the  obligation of such Lender to make  Eurodollar  Rate
Loans shall be suspended  until such Lender  notifies  Administrative  Agent and
Borrower  that the  circumstances  giving rise to such  determination  no longer
exist. Upon receipt of such notice, Borrower shall, upon demand from such Lender
(with a copy to  Administrative  Agent),  prepay or Convert all Eurodollar  Rate
Loans of such Lender,  either on the last day of the Interest Period thereof, if
such Lender may lawfully continue to maintain such Eurodollar Rate Loans to such
day, or immediately,  if such Lender may not lawfully  continue to maintain such
Eurodollar  Rate Loans.  Each  Lender  agrees to  designate a different  Lending
Office if such  designation will avoid the need for such notice and will not, in
the good faith judgment of such Lender, otherwise be materially  disadvantageous
to such Lender.

         3.03 Inability to Determine  Eurodollar  Rates.  If, in connection with
any Request for Extension of Credit  involving  any  Eurodollar  Rate Loan,  (a)
Administrative  Agent  determines  that (i)  deposits  in Dollars  are not being
offered to banks in the  applicable  offshore  dollar market for the  applicable
amount  and  Interest  Period  of the  requested  Eurodollar  Rate  Loan or (ii)
adequate  and  reasonable  means do not exist  for  determining  the  underlying
interest rate for such Eurodollar Rate Loan, or (b) Required  Lenders  determine
that such  underlying  interest rate does not  adequately and fairly reflect the
cost to Lenders of funding such Eurodollar Rate Loan,  Administrative Agent will
promptly notify Borrower and all Lenders.  Thereafter, the obligation of Lenders
to make  or  maintain  such  Eurodollar  Rate  Loan  shall  be  suspended  until
Administrative Agent revokes such notice. Upon receipt of such notice,  Borrower
may revoke any  pending  request for a Borrowing  of  Eurodollar  Rate Loans or,
failing  that,  be deemed to have  converted  such  request into a request for a
Borrowing of Base Rate Loans in the amount specified therein.

                                            Five-Year Revolving Credit Agreement

                                       28

<PAGE>

         3.04 Increased Cost and Reduced Return; Capital Adequacy.

              (a) If any  Lender  determines  that any Laws or  changes  therein
effective after the date hereof:

                  (i) Subject such Lender to any tax, duty, or other charge with
         respect  to any  Eurodollar  Rate  Loans  or  its  obligation  to  make
         Eurodollar  Rate Loans,  or change the basis on which taxes are imposed
         on any amounts  payable to such Lender under this  Agreement in respect
         of any Eurodollar Rate Loans;

                  (ii) Impose or modify any reserve, special deposit, or similar
         requirement  (other  than  the  reserve  requirement  utilized  in  the
         determination  of the  Eurodollar  Rate)  relating to any extensions of
         credit or other assets of, or any deposits with or other liabilities or
         commitments of, such Lender (including its Commitment); or

                  (iii)  Impose  on such  Lender  or on the  offshore  interbank
         market any other  condition  affecting  this  Agreement  or any of such
         extensions of credit or liabilities or commitments;

and the result of any of the foregoing is to increase the cost to such Lender of
making, Converting into, Continuing, or maintaining any Eurodollar Rate Loans or
to reduce any sum received or  receivable  by such Lender  under this  Agreement
with respect to any Eurodollar Rate Loans, then from time to time upon demand of
Lender (with a copy of such demand to Administrative Agent),  Borrower shall pay
to such Lender such  additional  amounts as will compensate such Lender for such
increased cost or reduction.

              (b)  If  any  Lender   determines   that  any  change  in  or  the
interpretation  of any Laws  effective  after the date hereof have the effect of
reducing the rate of return on the capital of such Lender or  compliance by such
Lender (or its Lending Office) or any corporation  controlling  such Lender as a
consequence of such Lender's  obligations  hereunder (taking into  consideration
its policies with respect to capital  adequacy and such Lender's  desired return
on  capital),  then from time to time upon demand of such Lender (with a copy to
Administrative Agent), Borrower shall pay to such Lender such additional amounts
as will compensate such Lender for such reduction.

         3.05 Breakfunding Costs. Subject to Section 3.06(a), upon demand of any
Lender (with a copy to Administrative  Agent) from time to time,  Borrower shall
promptly  compensate  such  Lender for and hold such  Lender  harmless  from any
actual loss, cost or expense incurred by it as a result of:

              (a) Any  Continuation,  Conversion,  payment or  prepayment of any
Eurodollar Rate Loan on a day other than the last day of the Interest Period for
such Eurodollar Rate Loan (whether voluntary, mandatory, automatic, by reason of
acceleration or otherwise); or

              (b) Any failure by Borrower  (for a reason  other than the failure
of such Lender to make a Eurodollar  Rate Loan) to prepay,  borrow,  Continue or
Convert  any  Eurodollar  Rate  Loan on the date or in the  amount  notified  by
Borrower;

excluding  any loss of  anticipated  profits but  including  any loss or expense
arising from the liquidation or reemployment of funds obtained by it to maintain
such Loan or from fees payable to terminate  the deposits  from which such funds
were obtained.

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<PAGE>

         3.06 Matters Applicable to all Requests for Compensation.

              (a) A certificate of  Administrative  Agent or any Lender claiming
compensation  under this Section 3 and setting  forth the  additional  amount or
amounts to be paid to it hereunder shall be conclusive in the absence of clearly
demonstrable  error;   provided  that  such  certificate  (i)  sets  forth  with
reasonable  specificity  the  calculation of the amount to be paid,  (ii) states
that   Administrative   Agent  or  such  Lender,  as  applicable,   is  treating
substantially  all similarly  situated  borrowers in a manner that is consistent
with the treatment  afforded  Borrower  hereunder,  (iii) is delivered within 90
days of the later of the date of the event giving rise to such  compensation and
the date  Administrative  Agent or such  Lender  knew or,  with the  exercise of
reasonable care,  should have known of the  requirements for such  compensation,
and (iv) confirms (in the case of a claim for compensation under Section 3.01 or
Section  3.04)  that  either a change in the  Administrative  Agent's  Office or
Lending Office, as the case may be, of  Administrative  Agent or such Lender, as
the case may be, would not have eliminated the request for  compensation or that
such change would have been otherwise disadvantageous to Administrative Agent or
such Lender, as the case may be. In determining the amount of such compensation,
Administrative  Agent  or any  Lender  may  use  any  reasonable  averaging  and
attribution methods.

              (b) Upon any Lender becoming  prohibited from making,  maintaining
or funding  Eurodollar  Rate Loans  pursuant to Section 3.02, or upon any Lender
making a claim for compensation under Section 3.01 or Section 3.04, Borrower may
remove and replace such Lender in accordance with Section 10.21.

         3.07 Survival. All of Borrower's obligations under this Section 3 shall
survive termination of the Commitments and payment in full of all Obligations.

                                   SECTION 4.
                  CONDITIONS PRECEDENT TO EXTENSIONS OF CREDIT

         4.01 Conditions  Precedent to Closing Date. This Agreement shall become
effective  and the  Closing  Date  shall  occur  when  Administrative  Agent has
received all of the agreements, documents, instruments and other items described
in this  Section  4.01 and the  other  conditions  precedent  set  forth in this
Section 4.01 have been satisfied (and on the Closing Date,  Administrative Agent
shall  deliver  written  notice to  Borrower  and Lenders  that such  conditions
precedent  have been  satisfied  and that the Closing Date has  occurred,  which
written notice shall be conclusive of such occurrence):

              (a) Unless waived by all Lenders,  each of the following,  each of
which shall be originals or facsimiles  (followed  promptly by originals) unless
otherwise  specified,  each  properly  executed  by  a  Responsible  Officer  of
Borrower,  each dated on, or in the case of  third-party  certificates  recently
before,  the  Closing  Date  and  each in form  and  substance  satisfactory  to
Administrative Agent and its legal counsel:

                  (i) Executed  counterparts  of this  Agreement,  sufficient in
         number for distribution to Administrative Agent, Lenders and Borrower;

                  (ii)  Notes  executed  by  Borrower  in favor  of each  Lender
         requesting  same,  substantially  in the form  attached as Exhibit C or
         Exhibit F, as the case may be;

                  (iii)  Such  certificates  of  resolutions  or  other  action,
         incumbency   certificates  and/or  other  certificates  of  Responsible
         Officers of Borrower as  Administrative  Agent may request to establish

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                                       30

<PAGE>

         the  identities  of and  verify  the  authority  and  capacity  of each
         Responsible  Officer thereof authorized to act as a Responsible Officer
         thereof;

                  (iv) Such  evidence  as  Administrative  Agent may  request to
         verify that Borrower is duly organized or formed,  validly existing, in
         good standing and qualified to engage in business in each  jurisdiction
         in  which  it is  required  to be  qualified  to  engage  in  business,
         including  certified copies of Borrower's  certificate of incorporation
         and bylaws,  certificates  of good  standing  and/or  qualification  to
         engage in business;

                  (v) A certificate signed by a Responsible  Officer of Borrower
         certifying  (A) that the conditions  specified in Sections  4.01(c) and
         (d)  have  been  satisfied,  (B)  that  there  has  been  no  event  or
         circumstance  since the date of the Audited Financial  Statements which
         has a  Material  Adverse  Effect,  and (C) the  current  Debt  Ratings,
         together with a Compliance  Certificate  as of June 30, 2000 that gives
         effect to results of operations for the two fiscal quarter period ended
         on such date, the initial  Extension of Credit and the repayment of the
         Indebtedness to be repaid on the Closing Date;

                  (vi) An opinion of counsel to  Borrower  substantially  in the
         form of Exhibit E; and

                  (vii) Such other assurances, certificates, documents, consents
         or opinions as Administrative  Agent or Required Lenders reasonably may
         require.

              (b) Any fees  required  to be paid on or before the  Closing  Date
shall have been paid.

              (c) The representations and warranties made by Borrower herein, or
which are contained in any certificate, document or financial or other statement
furnished at any time under or in  connection  herewith or  therewith,  shall be
correct in all material respects on and as of the Closing Date.

              (d) No  Default or Event of Default  shall  have  occurred  and be
continuing.

              (e) All consents or approvals of,  filings with, and other actions
by,  any  Governmental  Authority  that are  necessary  or  appropriate  for the
execution, delivery and performance by Borrower of the Loan Documents shall have
been obtained, made or taken.

              (f) Unless waived by  Administrative  Agent,  Borrower  shall have
paid all Attorney Costs of Administrative  Agent to the extent invoiced prior to
or on the Closing Date.

              (g)   Administrative   Agent   shall  have   received   assurances
satisfactory  to it that  provision  has  been  made  for the  repayment  of all
Indebtedness of Borrower, its Subsidiaries and its Affiliates listed on Schedule
4.01, and for the  termination of the  commitments  under the credit  facilities
listed on Schedule 4.01,  substantially  concurrently with the initial Extension
of Credit.

         4.02  Conditions  to all  Extensions  of  Credit.  In  addition  to any
applicable  conditions  precedent  set forth  elsewhere  in this Section 4 or in
Section 2, the  obligation  of each Lender to honor any Request for Extension of
Credit  (other than a Conversion  or  Continuation)  is subject to the following
conditions precedent:

              (a) The  representations  and warranties of Borrower  contained in
Sections 5.01, 5.02, and 5.03 of this Agreement shall be correct in all material
respects on and as of the date of such Extension of Credit.

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                                       31

<PAGE>

              (b) No Default or Event of Default  exists,  or would  result from
such Extension of Credit or the use thereof.

              (c) Administrative  Agent shall have timely received a Request for
Extension of Credit by Requisite Notice by the Requisite Time therefor.

              (d) Such  Extension of Credit  shall be  permitted  by  applicable
Laws.

         Each Request for Extension of Credit by Borrower  shall be deemed to be
a representation and warranty that the conditions  specified in Sections 4.02(a)
and (b) have been satisfied on and as of the date of such Extension of Credit.

                                   SECTION 5.
                         REPRESENTATIONS AND WARRANTIES

         Borrower  represents and warrants to  Administrative  Agent and Lenders
that:

         5.01 Existence and Qualification;  Power; Compliance with Laws. Each of
Borrower and its Restricted  Subsidiaries  (a) is a corporation,  partnership or
limited liability company duly organized or formed, validly existing and in good
standing under the Laws of the state of its organization,  (b) has the power and
authority and the legal right to own,  lease and operate its  properties  and to
conduct its business,  (c) is duly qualified and in good standing under the Laws
of each jurisdiction  where its ownership,  lease or operation of its properties
or the conduct of its business requires such qualification, except to the extent
that  the  failure  to be so  qualified  and in good  standing  does  not have a
Material Adverse Effect,  and (d) is in compliance with all Laws,  except to the
extent that noncompliance does not have a Material Adverse Effect.

         5.02 Power;  Authorization;  Enforceable Obligations.  Borrower has the
power and authority  and the legal right to make,  deliver and perform each Loan
Document  to which it is a party  and to  borrow  hereunder  and has  taken  all
necessary  action  to  authorize  the  Extensions  of  Credit  on the  terms and
conditions  of this  Agreement  and to  authorize  the  execution,  delivery and
performance  of this  Agreement  and the other Loan  Documents  to which it is a
party.  Except for such  consents,  authorizations,  filings or other acts which
have been duly made or obtained and are in full force and effect,  no consent or
authorization of, filing with, or other act by or in respect of any Governmental
Authority is required in connection  with the Extensions of Credit  hereunder or
with the execution,  delivery,  performance,  validity or enforceability of this
Agreement or any of the other Loan Documents.  The Loan Documents have been duly
executed and  delivered by Borrower,  and  constitute  legal,  valid and binding
obligations of Borrower,  enforceable  against Borrower in accordance with their
respective terms, subject to applicable bankruptcy, insolvency,  reorganization,
moratorium or other Laws affecting  creditor's  rights  generally and subject to
general  principles of equity,  regardless of whether considered in a proceeding
in equity or at law.

         5.03 No Legal Bar. The execution, delivery, and performance by Borrower
of the Loan  Documents to which it is a party do not and will not (a) violate or
conflict  with,  or result in a breach  of, or  require  any  consent  under (i)
Borrower's  certificate of  incorporation  or bylaws,  (ii) any applicable  Laws
which  has a  Material  Adverse  Effect,  or (iii) any  Contractual  Obligation,
license or franchise  of Borrower or any of its  Restricted  Subsidiaries  or by
which  any of them or any of their  property  is bound or  subject  which  has a
Material  Adverse  Effect,  (b) constitute a default under any such  Contractual
Obligation, license

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                                       32

<PAGE>

or franchise  which has a Material  Adverse Effect or (c) result in, or require,
the creation or imposition  of any Lien on any of the  properties of Borrower or
any of its Restricted Subsidiaries which is not permitted hereby.

         5.04 Financial Statements; No Material Adverse Effect.

              (a)  The  Audited  Financial   Statements  (i)  were  prepared  in
accordance with GAAP consistently applied throughout the period covered thereby,
except as  otherwise  expressly  noted  therein,  and (ii)  fairly  present  the
financial condition of Borrower and its consolidated Subsidiaries as of the date
thereof  and their  results  of  operations  for the period  covered  thereby in
accordance with GAAP consistently applied throughout the period covered thereby,
except as otherwise expressly noted therein.

              (b) Since the date of the Audited Financial  Statements and to the
Closing  Date,  there has been no event or  circumstance  which  has a  Material
Adverse Effect.

         5.05  Litigation.  No  litigation,  investigation  or  proceeding of or
before an  arbitrator  or  Governmental  Authority  is  pending  or, to the best
knowledge  of  Borrower,  threatened  by or  against  Borrower  or  any  of  its
Restricted  Subsidiaries or against any of their  properties or revenues that is
reasonably likely to be determined  adversely,  and, if so adversely determined,
has a Material Adverse Effect.

         5.06  No  Default.   Neither   Borrower  nor  any  of  its   Restricted
Subsidiaries is in default under or with respect to any Contractual  Obligation,
license or  franchise  which has a Material  Adverse  Effect,  and no Default or
Event  of  Default  has  occurred  and is  continuing  or will  result  from the
execution and delivery of this Agreement or any of the other Loan Documents,  or
the making of the Extensions of Credit hereunder.

         5.07 Authorizations.  Borrower and its Restricted  Subsidiaries possess
all licenses, permits,  franchises,  consents,  approvals, and other authorities
required to be issued by Governmental Authorities that are necessary or required
in  the  conduct  of  their  businesses,   all  of  which  are  valid,  binding,
enforceable,  and  subsisting  without any defaults  thereunder,  other than any
failures to possess or defaults that do not have a Material Adverse Effect.

         5.08 Taxes. Borrower and its Restricted Subsidiaries have filed all tax
returns which are required to be filed, and have paid, or made provision for the
payment of, all taxes with  respect to the  periods,  property  or  transactions
covered by said returns,  or pursuant to any assessment  received by Borrower or
its affected  Restricted  Subsidiaries,  except such taxes, if any, as are being
contested  in good faith by  appropriate  proceedings  and as to which  adequate
reserves have been  established  and  maintained in accordance  with GAAP,  and,
except for the failure to file tax returns and/or to pay taxes which failures do
not, in the aggregate, have a Material Adverse Effect.

         5.09 Margin Regulations; Investment Company Act; Public Utility Holding
Company Act.

              (a) Borrower is not engaged or will engage,  principally or as one
of its important activities, in the business of extending credit for the purpose
of "purchasing" or "carrying"  "margin stock" within the respective  meanings of
each of the quoted  terms under  Regulation  U of the Board of  Governors of the
Federal Reserve System as now and from time to time hereafter in effect. No part
of the  proceeds  of any  Extensions  of  Credit  hereunder  will  be  used  for
"purchasing"  or  "carrying"  "margin  stock" as so  defined  in a manner  which
violates,  or which would be inconsistent with, the provisions of Regulations T,
U, or X of such Board of Governors.

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<PAGE>

              (b) Neither Borrower nor any of its Restricted Subsidiaries (i) is
a "holding  company," or a  "subsidiary  company" of a "holding  company," or an
"affiliate"  of a "holding  company" or of a "subsidiary  company" of a "holding
company,"  within the meaning of the Public Utility Holding Company Act of 1935,
or (ii) is or is required to be registered as an "investment  company" under the
Investment Company Act of 1940.

         5.10 ERISA Compliance.

              (a) Each Plan is in compliance  in all material  respects with the
applicable  provisions of ERISA,  the Code and other federal or state Laws. Each
Plan that is intended to qualify under Section 401(a) of the Code has received a
favorable  determination letter from the IRS or an application for such a letter
is currently  being processed by the IRS (or will be filed before the end of any
applicable  remedial  amendment  period under  Section  401(b) of the Code) with
respect  thereto and, to the best  knowledge  of Borrower,  nothing has occurred
which would prevent, or cause the loss of, such qualification. Borrower and each
ERISA  Affiliate  have made all required  contributions  to each Plan subject to
Section 412 of the Code, and no application for a funding waiver or an extension
of any  amortization  period  pursuant  to Section 412 of the Code has been made
with respect to any Plan.

              (b) There are no pending or, to the best  knowledge  of  Borrower,
threatened claims, actions or lawsuits, or action by any Governmental Authority,
with respect to any Plan that has a Material  Adverse Effect.  There has been no
non-exempt prohibited transaction (within the meaning of Section 401 of ERISA or
violation  of the  fiduciary  responsibility  rules of ERISA with respect to any
Plan that has a Material Adverse Effect.

              (c) (i) No ERISA Event has occurred or is  reasonably  expected to
occur which has a Material Adverse Effect; (ii) no Plan has any Unfunded Pension
Liability;  (iii) neither  Borrower nor any ERISA  Affiliate  has  incurred,  or
reasonably  expects to incur, any liability under Title IV of ERISA with respect
to any Plan (other than  premiums due and not  delinquent  under Section 4007 of
ERISA);  (iv)  neither  Borrower  nor  any  ERISA  Affiliate  has  incurred,  or
reasonably  expects to incur,  any liability  (and no event has occurred  which,
with the giving of notice  under  Section  4219 of ERISA,  would  result in such
liability)  under Sections 4201 or 4243 of ERISA with respect to a Multiemployer
Plan;  and (v)  neither  Borrower  nor any  ERISA  Affiliate  has  engaged  in a
transaction that could be subject to Sections 4069 or 4212(c) of ERISA.

         5.11 Assets;  Liens.  Borrower and its Restricted  Subsidiaries own, or
possess  the  right  to  use,  all  properties  and  assets,  including  without
limitation,   trademarks,  trade  names,  copyrights,  patents,  patent  rights,
franchises,  licenses and other intangible assets,  that are used in the conduct
of their respective businesses as now operated,  and none of such properties and
assets, to the best knowledge of Borrower, conflicts with the valid ownership or
other right of use of any other Person to the extent that such failure to own or
possess or conflict has a Material  Adverse  Effect.  None of such properties or
assets is subject to any Lien, except as permitted in Section 7.01.

         5.12 Environmental Compliance. Borrower and its Restricted Subsidiaries
are  in  compliance   with   Environmental   Laws  except  to  the  extent  that
noncompliance does not have a Material Adverse Effect.

         5.13 Use of Proceeds.  Borrower  will use the proceeds of Extensions of
Credit  to  refinance  existing  Indebtedness  of  Borrower  and its  Restricted
Subsidiaries  or  Affiliates  and for  working  capital,  capital  expenditures,
commercial paper backup and other lawful corporate purposes.

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<PAGE>

         5.14 Disclosure. No statement,  information, report, representation, or
warranty  made by Borrower in any Loan  Document or furnished to  Administrative
Agent or any Lender in  connection  with any Loan  Document  contains any untrue
statement of a material fact.

                                   SECTION 6.
                              AFFIRMATIVE COVENANTS

         So long as any Obligation remains unpaid or unperformed, or any portion
of the Commitments remains outstanding, Borrower shall, and shall (except in the
case of Borrower's reporting covenants), cause each Restricted Subsidiary to:

         6.01 Financial Statements. Deliver to Administrative Agent and Lenders,
in form and detail satisfactory to Administrative Agent:

              (a) As soon as  available,  but in any event within 105 days after
the end of each  fiscal  year of  Borrower,  a  consolidated  balance  sheet  of
Borrower and its  consolidated  Subsidiaries  as at the end of such fiscal year,
and the related consolidated statements of income and cash flows for such fiscal
year,  setting  forth  in each  case in  comparative  form the  figures  for the
previous  fiscal year, all in reasonable  detail,  audited and  accompanied by a
report and opinion of  independent  certified  public  accountants of nationally
recognized standing reasonably  acceptable to Administrative Agent, which report
and opinion shall not be subject to any  qualifications  or exceptions as to the
scope of the  audit  nor to any  qualifications  or  exceptions  not  reasonably
acceptable to Administrative Agent; and

              (b) As soon as  available,  but in any event  within 60 days after
the end of each of the  first  three  fiscal  quarters  of each  fiscal  year of
Borrower,  a  consolidated  balance  sheet  of  Borrower  and  its  consolidated
Subsidiaries as at the end of such fiscal quarter,  and the related consolidated
statements of income and cash flows for such fiscal  quarter and for the portion
of Borrower's fiscal year then ended,  setting forth in each case in comparative
form the figures for the  corresponding  fiscal  quarter of the previous  fiscal
year  and  the  corresponding  portion  of  the  previous  fiscal  year,  all in
reasonable  detail and certified by a Responsible  Officer of Borrower as fairly
presenting  the financial  condition,  results of  operations  and cash flows of
Borrower and its consolidated Subsidiaries in accordance with GAAP, subject only
to pro forma adjustments and normal year-end audit adjustments.

         6.02 Certificates,   Notices  and  Other   Information.   Deliver  to
Administrative  Agent in form and detail  satisfactory to Administrative  Agent,
with sufficient copies for each Lender:

              (a) No later  than  the  date  required  for the  delivery  of the
financial  statements  referred to in Sections  6.01(a) and (b) a duly completed
Compliance  Certificate  signed by a  Responsible  Officer  of  Borrower,  which
Compliance  Certificate shall set forth the necessary adjustments to exclude the
Indebtedness  and  EBITDA  attributed  to  Unrestricted  Subsidiaries  from  the
calculations  set forth  therein and shall give pro forma effect (in  accordance
with  Section  1.07) to  Material  Acquisitions  and  Material  Dispositions  in
accordance with Section 1.07;

              (b) Promptly after the same are  available,  copies of all annual,
regular, periodic and special reports and registration statements which Borrower
may file or be  required to file with the  Securities  and  Exchange  Commission
under  Sections  13 or 15(d) of the  Securities  Exchange  Act of 1934,  and not
otherwise required to be delivered to Administrative Agent pursuant hereto;

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<PAGE>

              (c) Promptly after Borrower obtaining  knowledge of the occurrence
thereof, notice of any Default or Event of Default specifying the nature thereof
and what action  Borrower has taken,  is taking or proposes to take with respect
thereto;

              (d)   Promptly   after   Borrower   obtaining   knowledge  of  the
commencement  thereof,  notice of any  litigation,  investigation  or proceeding
affecting  Borrower  or any of its  Restricted  Subsidiaries  where  the  amount
involved exceeds the Threshold  Amount, or in which injunctive relief or similar
relief is sought, which relief, if granted, has a Material Adverse Effect;

              (e) Promptly after Borrower obtaining  knowledge of the occurrence
thereof, notice of any ERISA Event;

              (f)   Promptly   after   Borrower   obtaining   knowledge  of  the
announcement thereof, notice of any announcement by Moody's or S&P of any change
in a Debt Rating; and

              (g) Promptly after such request,  such other data and  information
as from time to time may be reasonably  requested by Administrative Agent or any
Lender through Administrative Agent.

         6.03 Payment  of  Taxes.   Pay  and  discharge  when  due  all  taxes,
assessments and governmental charges or levies imposed on it or on its income or
profits or any of its property,  except for any such tax, assessment,  charge or
levy which is being contested in good faith and by appropriate  proceedings,  if
adequate reserves with respect thereto are maintained on its books in accordance
with GAAP,  and except,  for such  payments  which,  if not paid,  do not in the
aggregate, have a Material Adverse Effect.

         6.04 Preservation  of Existence.  Preserve and maintain its existence,
licenses,  permits, rights,  franchises and privileges necessary or desirable in
the normal conduct of its business,  except where failure to do so does not have
a Material  Adverse  Effect,  and except that nothing in this Section 6.04 shall
prohibit any transaction permitted by Section 7.03.

         6.05 Maintenance of Properties.  Maintain,  preserve and protect all of
its material properties and equipment necessary in the operation of its business
in good order and condition,  subject to wear and tear in the ordinary course of
business,  except  to the  extent  that  the  failure  to do so does  not have a
Material Adverse Effect.

         6.06 Maintenance  of  Insurance.   Maintain   liability  and  casualty
insurance  with  financially  sound  and  reputable   insurance   companies  not
Affiliates  of Borrower in such amounts with such  deductibles  and against such
risks as is customary for similarly  situated  businesses,  except to the extent
Borrower or such Restricted Subsidiary maintains reasonable  self-insurance with
respect to such risks.

         6.07 Compliance With Laws.

              (a) Comply with the requirements of all applicable Laws and orders
of any Governmental  Authority,  noncompliance with which has a Material Adverse
Effect.

              (b) Conduct its  operations  and keep and maintain its property in
compliance with all Environmental Laws,  noncompliance with which has a Material
Adverse Effect.

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<PAGE>

         6.08 Inspection Rights. At any time during regular business hours, upon
reasonable notice, and as often as reasonably requested,  but subject to Section
10.17,  permit  Administrative  Agent or any Lender,  or any employee,  agent or
representative  thereof,  to examine  (and during the  existence  of an Event of
Default,  make  copies and  abstracts  from) the records and books of account of
Borrower  and  its  Restricted  Subsidiaries  and to  visit  and  inspect  their
properties and to discuss their affairs, finances and accounts with any of their
officers and key employees.

         6.09 Keeping of Records and Books of Account. Keep adequate records and
books of account  reflecting all material  financial  transactions in conformity
with GAAP,  consistently applied, and in material conformity with all applicable
requirements of any Governmental  Authority having regulatory  jurisdiction over
Borrower or the applicable Restricted Subsidiary.

         6.10  Compliance  with  ERISA.  Cause,  and  cause  each  of its  ERISA
Affiliates to (a) maintain each Plan in compliance in all material respects with
the applicable provisions of ERISA, the Code and other federal or state law; (b)
cause each Plan which is qualified  under Section 401(a) of the Code to maintain
such qualification;  and (c) make all required contributions to any Plan subject
to Section 412 of the Code;  provided  that this Section 6.10 shall not prohibit
Borrower  and its  ERISA  Affiliates  from  terminating  any Plan to the  extent
permitted by ERISA,  the Code, and other  applicable law or if such  termination
does not have a Material Adverse Effect.

         6.11  Compliance  With  Agreements.  Promptly and fully comply with all
Contractual  Obligations to which any one or more of them is a party, except for
any such  Contractual  Obligations  (a) then being  contested  or intended to be
timely contested by any of them in good faith by appropriate proceedings, or (b)
the failure to comply with which does not have a Material Adverse Effect.

         6.12 Use of  Proceeds.  Use the  proceeds  of  Extensions  of Credit as
represented herein.

         6.13  Designation of Unrestricted  Companies.  So long as no Default or
Event of Default exists or arises as a result thereof, Borrower may from time to
time  designate  a  Restricted  Subsidiary  as  an  Unrestricted  Subsidiary  or
designate an Unrestricted  Subsidiary as a Restricted Subsidiary;  provided that
Borrower shall (a) provide  Administrative  Agent written  notification  of such
designation prior to or concurrently therewith, and (b) if such designation is a
Material  Acquisition  (in  the  case  of  the  designation  of an  Unrestricted
Subsidiary as a Restricted Subsidiary) or a Material Disposition (in the case of
the  designation  of a Restricted  Subsidiary  as an  Unrestricted  Subsidiary),
within 10 Business Days after such notification, deliver to Administrative Agent
a  certificate,   in  form  reasonably   acceptable  to  Administrative   Agent,
demonstrating  pro-forma  compliance  (in  accordance  with  Section  1.07) with
Section 7.07 immediately prior to and after giving effect to such designation.

                                   SECTION 7.
                               NEGATIVE COVENANTS

         So long as any Obligations remain unpaid or unperformed, or any portion
of the Commitments remains outstanding:

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         7.01  Liens.  Borrower  shall not,  nor shall it permit any  Restricted
Subsidiary to,  directly or indirectly,  incur,  assume or suffer to exist,  any
Lien  upon  any of its  property,  assets  or  revenues,  whether  now  owned or
hereafter acquired, except:

              (a) Liens pursuant to any Loan Document;

              (b) Liens (other than those to be discharged  in  connection  with
the repayment of the  Indebtedness  described on Schedule  4.01) existing on the
date  hereof  securing  Indebtedness  which does not exceed  $50,000,000  in the
aggregate  (which,  in the case of any such Lien  securing  Indebtedness  in the
amount of $100,000 or more,  is listed on Schedule  7.01),  and any  renewals or
extensions thereof, provided that such Liens are not extended to cover any other
property, assets or revenues;

              (c) Liens for  taxes not yet due or which are being  contested  in
good faith and by  appropriate  proceedings,  if adequate  reserves with respect
thereto are maintained on the books of the  applicable  Person or such Liens are
otherwise permitted under Section 6.03;

              (d)   Carriers',   warehousemen's,    mechanics',   materialmen's,
repairmen's or other like Liens arising in the ordinary course of business which
are not overdue  for a period of more than 30 days or which are being  contested
or intended to be timely contested in good faith and by appropriate proceedings;

              (e) Pledges or deposits in connection with worker's  compensation,
unemployment insurance and other social security legislation;

              (f) Deposits to secure the  performance of bids,  trade  contracts
(other than for  borrowed  money),  leases,  statutory  obligations,  surety and
appeal bonds,  performance bonds and other obligations of a like nature incurred
in the ordinary course of business;

              (g)  Easements,  rights-of-way,  restrictions  and  other  similar
encumbrances affecting real property which do not in any case materially detract
from the value of the property subject thereto or materially  interfere with the
ordinary conduct of the business of the applicable Person;

              (h)  Attachment,  judgment  or  other  similar  Liens  arising  in
connection  with  litigation  or other legal  proceedings  (and not  otherwise a
Default  hereunder)  that  are  currently  being  contested  in  good  faith  by
appropriate  proceedings or are intended to be timely contested in good faith by
appropriate   proceedings,   if  adequate  reserves  with  respect  thereto  are
maintained on the books of the applicable Person;

              (i) Liens in favor of Borrower or any Restricted Subsidiary;

              (j) Liens on "margin  stock" (as  defined in  Regulation  U of the
Board of Governors of the Federal Reserve System).

              (k) Liens on property acquired (by purchase,  merger or otherwise)
after the date  hereof,  existing at the time of  acquisition  thereof  (but not
created  in  anticipation  thereof),  or  placed  thereon  (at the  time of such
acquisition  or within 180 days of such  acquisition  to secure a portion of the
purchase price thereof),  and any renewals or extensions thereof, so long as the
Indebtedness  secured thereby is permitted  hereby;  provided that such Liens do
not and are not extended to cover any other property;

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              (l) Liens under  Sale-Leaseback  Transactions and other Liens, and
any renewals or extensions thereof, so long as the Indebtedness  secured thereby
does not exceed $500,000,000 in the aggregate; and

              (m) Liens not otherwise  permitted  hereby which do not secure any
Indebtedness.

         7.02 Subsidiary  Indebtedness.  Borrower  shall not  permit any of its
Restricted  Subsidiaries  to  create,  incur,  assume  or  permit  to exist  any
Indebtedness, except:

              (a) Indebtedness  existing on the date hereof, which, for all such
Indebtedness  other than any  Indebtedness  which is less than  $1,000,000 on an
individual  basis, is set forth on Schedule 7.02, and  extensions,  renewals and
replacements of such Indebtedness that do not increase the outstanding principal
amount thereof;

              (b)  Indebtedness of any Restricted  Subsidiary to Borrower or any
other Restricted Subsidiary; and

              (c)  Other  Indebtedness  in an  aggregate  principal  amount  not
exceeding $750,000,000 at any time.

         7.03 Fundamental   Changes.  (a)  Borrower  shall  not  (A)  merge  or
consolidate with or into any Person or (B) liquidate, wind-up or dissolve itself
or (C) sell,  transfer  or dispose of all or  substantially  all of its  assets,
provided,  nothing in this Section 7.03 shall be construed to prohibit  Borrower
from reincorporating in another jurisdiction,  changing its form of organization
or merging  into, or  transferring  all or  substantially  all of its assets to,
another Person so long as

                           (i) either (x) Borrower shall be the surviving entity
                  with substantially the same assets  immediately  following the
                  reincorporation  or reorganization or (y) the surviving entity
                  or transferee (the "Successor Corporation") shall, immediately
                  following the merger or transfer, as the case may be, (A) have
                  substantially  all  of  the  assets  of  Borrower  immediately
                  preceding the merger or transfer, as the case may be, (B) have
                  duly assumed all of Borrower's obligations hereunder and under
                  the other Loan Documents in form and substance satisfactory to
                  Administrative  Agent (and,  if  requested  by  Administrative
                  Agent,  the  Successor  Corporation  shall have  delivered  an
                  opinion of counsel as to the  assumption of such  obligations)
                  and (C) either (I) have  then-effective  ratings  (or  implied
                  ratings)  published  by  Moody's  or S&P  applicable  to  such
                  Successor   Corporation's   senior,   unsecured,   non-credit-
                  enhanced,  long term  indebtedness  for borrowed money,  which
                  ratings  shall  be  either  Baa3 or  higher  (if  assigned  by
                  Moody's)  or BBB- or higher  (if  assigned  by S&P) or (II) be
                  acceptable to Required Lenders; and

                           (ii)   immediately   after  giving   effect  to  such
                  transaction no Default or Event of Default shall have occurred
                  and be continuing.

                  (b)  Borrower  and its  Restricted  Subsidiaries,  taken  as a
         whole,  shall  continue  to  maintain  cable and  other  communications
         businesses as its primary lines of business.

         7.04 ERISA.  Borrower  shall not,  nor shall it permit any  Restricted
Subsidiary to, directly or indirectly, at any time engage in a transaction which
could be subject to Sections 4069 or 4212(c) of ERISA,

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<PAGE>

or permit any Plan to (a) engage in any non-exempt "prohibited  transaction" (as
defined in Section 4975 of the Code); (b) fail to comply with ERISA or any other
applicable Laws; or (c) incur any material  "accumulated funding deficiency" (as
defined in Section 302 of ERISA); which, with respect to each event described in
clauses (a), (b) or (c) above, has a Material Adverse Effect.

         7.05 Limitations  on  Upstreaming.  Borrower  shall not,  nor shall it
permit  any  Restricted  Subsidiary  to,  directly  or  indirectly  agree to any
restriction  or  limitation  on the making of  dividends or  distributions,  the
repaying of loans or advances or the  transferring of assets from any Restricted
Subsidiary  to  Borrower  or  any  other  Restricted   Subsidiary,   except  (a)
restrictions  and  limitations  imposed  by Law or by the  Loan  Documents,  (b)
customary  restrictions and limitations  contained in agreements relating to the
sale of a Subsidiary or its assets that is permitted hereunder and (c) any other
restrictions that could not reasonably be expected to impair Borrower's  ability
to repay the Obligations as and when due.

         7.06 Margin  Regulations.  Borrower  shall not, nor shall it permit any
Restricted  Subsidiary  to,  directly  or  indirectly,  use the  proceeds of any
Extensions of Credit hereunder for "purchasing" or "carrying" "margin stock" (as
such terms are defined in  Regulation U of the Board of Governors of the Federal
Reserve System),  if such use would violate,  or would be inconsistent with, the
provisions of Regulations T, U, or X of such Board of Governors.

         7.07 Financial Covenants.

              (a)  Interest  Coverage  Ratio.  Borrower  shall  not  permit  the
Interest  Coverage  Ratio as of the end of any fiscal  quarter of Borrower to be
less than 2.5 to 1.0; and

              (b) Leverage  Ratio.  Borrower shall not permit the Leverage Ratio
of Borrower to be greater than 5.50 to 1.0 at any time.

                                   SECTION 8.
                         EVENTS OF DEFAULT AND REMEDIES

         8.01 Events of Default.  Any one or more of the following  events shall
constitute an Event of Default:

              (a)  Borrower  fails  to pay  any  principal  on  any  Outstanding
Obligation (other than fees) on the date when due; or

              (b)  Borrower  fails  to  pay  any  interest  on  any  Outstanding
Obligation,  or any facility or  utilization  fees,  within three days after the
date  when  due;  or  fails  to  pay  any  other  fees  or  amount   payable  to
Administrative  Agent or any Lender  under any Loan  Document  within  five days
after the date when due or, if applicable,  after demand is made for the payment
thereof; or

              (c) Any default  occurs in the  observance or  performance  of any
agreement contained in Section 6.02(c), 6.12, 7.03 or 7.07; or

              (d)  Borrower  fails to perform or observe  any other  covenant or
agreement (not specified in subsections  (a), (b) or (c) above) contained in any
Loan Document on its part to be performed or observed

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<PAGE>

and such failure  continues  for 30 days after notice  thereof to Borrower  from
Administrative Agent or any Lender; or

              (e) Any  representation  or warranty by Borrower in this Agreement
or any  Compliance  Certificate  proves to have been  incorrect  in any material
respect when made or deemed made; or

              (f) (i) Borrower  (x) defaults in any payment when due  (including
any stated grace periods) of principal of or interest on any  Indebtedness(other
than the  Obligations)  having an  aggregate  principal  amount in excess of the
Threshold  Amount or (y) defaults in the  observance or performance of any other
agreement or condition relating to any Indebtedness (other than the Obligations)
or contained in any  instrument  or agreement  evidencing,  securing or relating
thereto,  or any other event shall occur,  the effect of which  default or other
event (after giving effect to any applicable  stated grace periods) is to cause,
or to permit the holder or holders of such  Indebtedness  (or a trustee or agent
on behalf of such holder or holders or beneficiary or  beneficiaries)  to cause,
with the  giving  of  notice  if  required,  Indebtedness  having  an  aggregate
principal  amount in excess of the Threshold Amount to be demanded or become due
(automatically or otherwise) or to become subject to mandatory  redemption prior
to its stated  maturity,  or any  Guaranty  Obligation  in such amount to become
payable or cash collateral in respect  thereof to be demanded  (provided that to
the extent that any  default  referred to in the  preceding  provisions  of this
Section  8.01(f)  is  cured  or  duly  waived  by the  required  holders  of the
applicable  Indebtedness,  such  default  shall  cease to be an Event of Default
hereunder,  unless  and  except  to the  extent  that  Administrative  Agent has
theretofore  exercised remedies hereunder pursuant to Section 8.02), or Borrower
is unable or admits in writing its inability to pay its debts as they mature; or

              (g) Any  Loan  Document,  at any  time  after  its  execution  and
delivery and for any reason other than the agreement of Required  Lenders or all
Lenders,  as may be  required  hereunder,  or  satisfaction  in  full of all the
Obligations,  ceases to be in full force and effect or is declared by a court of
competent  jurisdiction  to be null and void,  invalid or  unenforceable  in any
material  respect;  or Borrower  denies that it has any or further  liability or
obligation under any Loan Document, or purports to revoke,  terminate or rescind
any Loan Document; or

              (h) (i) A final non-appealable judgment against Borrower or any of
its  Significant  Subsidiaries is entered for the payment of money (which is not
covered by  insurance) in excess of the Threshold  Amount,  or any  non-monetary
final  judgment  is  entered   against   Borrower  or  any  of  its  Significant
Subsidiaries which has a Material Adverse Effect if, in each case, such judgment
remains  unsatisfied  without  procurement  of a stay  of  execution  for (A) 30
calendar days after the date of entry of such judgment or, (B) if earlier,  five
days  prior  to the date of any  possible  execution  sale,  or (ii) any writ or
warrant  of  attachment  or  execution  or  similar  process is issued or levied
against all or any  material  part of the property of any such Person and is not
released,  vacated,  stayed or fully  bonded  within 30 calendar  days after its
issue or levy; or

              (i) Borrower or any of its Significant  Subsidiaries institutes or
consents to the institution of any proceeding under Debtor Relief Laws, or makes
an assignment  for the benefit of  creditors;  or applies for or consents to the
appointment  of  any  receiver,  trustee,  custodian,  conservator,  liquidator,
rehabilitator  or similar  officer for it or for all or any material part of its
property;  or  any  receiver,  trustee,  custodian,   conservator,   liquidator,
rehabilitator or similar officer is appointed without the application or consent
of that Person and the  appointment  continues  undischarged  or unstayed for 60
calendar days; or any  proceeding  under Debtor Relief Laws relating to any such
Person or to all or any part of its property is  instituted  without the consent
of that Person and continues undismissed or unstayed for 60 calendar days, or an
order for relief is entered in any such proceeding; or

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<PAGE>

              (j) There occurs any Change of Control.

         8.02 Remedies Upon Event of Default.  Without limiting any other rights
or remedies of  Administrative  Agent or Lenders  provided for elsewhere in this
Agreement,  or the other Loan Documents,  or by applicable Law, or in equity, or
otherwise:

         (a) Upon the occurrence,  and during the  continuance,  of any Event of
Default other than an Event of Default described in Section 8.01(i):

                  (i)  Administrative  Agent may (and,  subject  to the terms of
         Section 9, shall upon the request of Required  Lenders)  terminate  the
         Commitments  and/or declare all or any part of the unpaid  principal of
         all  Loans,  all  interest  accrued  and unpaid  thereon  and all other
         amounts  payable  under the Loan  Documents to be  immediately  due and
         payable,  whereupon  the same shall become and be  immediately  due and
         payable, without protest,  presentment,  notice of dishonor,  demand or
         further  notice  of any  kind,  all of which  are  expressly  waived by
         Borrower; and

                  (ii)  Administrative  Agent may (and,  subject to the terms of
         Section 9, shall upon the request of Required Lenders) demand immediate
         payment by Borrower of an amount equal to the  aggregate  amount of all
         outstanding  Letter  of  Credit  Usage to be held in a Letter of Credit
         Cash Collateral Account.

              (b) Upon the  occurrence  of any  Event of  Default  described  in
Section 8.01(i):

                  (i)   The   Commitments   and   all   other   obligations   of
         Administrative  Agent or Lenders shall automatically  terminate without
         notice to or  demand  upon  Borrower,  which  are  expressly  waived by
         Borrower;

                  (ii) The unpaid  principal of all Loans,  all interest accrued
         and  unpaid  thereon  and all  other  amounts  payable  under  the Loan
         Documents  shall  be  immediately  due and  payable,  without  protest,
         presentment,  notice of dishonor, demand or further notice of any kind,
         all of which are expressly waived by Borrower; and

                  (iii)  An  amount  equal  to  the  aggregate   amount  of  all
         outstanding Letter of Credit Usage shall be immediately due and payable
         to  Administrative  Agent  without  notice to or demand upon  Borrower,
         which  are  expressly  waived  by  Borrower,  to be held in a Letter of
         Credit Cash Collateral Account.

              (c) Upon the  occurrence  of any Event of Default,  Administrative
Agent may proceed to protect,  exercise and enforce against  Borrower the rights
and remedies of  Administrative  Agent and Lenders under the Loan  Documents and
such other rights and remedies as are provided by Law or equity.

              (d) The  order  and  manner in which  Administrative  Agent's  and
Lenders'  rights  and  remedies  are to be  exercised  shall  be  determined  by
Administrative  Agent or Required Lenders in their sole and absolute discretion.
Regardless  of how a  Lender  may  treat  payments  for the  purpose  of its own
accounting,  for the purpose of computing the  Obligations  hereunder,  payments
received  during the existence of an Event of Default shall be applied first, to
costs and expenses (including  Attorney Costs) incurred by Administrative  Agent
and each  Lender (to the extent  that each  Lender has a right to  reimbursement
thereof pursuant to the

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<PAGE>

Loan  Documents),  second,  to the payment of accrued and unpaid interest on the
Obligations to and including the date of such application, third, to the payment
of, or as cash  collateral  for, the unpaid  principal of the  Obligations,  and
fourth,  to the  payment  of all other  amounts  (including  fees) then owing to
Administrative Agent and Lenders under the Loan Documents, in each case paid pro
rata to each Lender in the same proportions that the aggregate  Obligations owed
to each Lender under the Loan Documents bear to the aggregate  Obligations  owed
under the Loan Documents to all Lenders,  without  priority or preference  among
Lenders.  No application of payments will cure any Event of Default,  or prevent
acceleration,  or  continued  acceleration,  of amounts  payable  under the Loan
Documents, or prevent the exercise, or continued exercise, of rights or remedies
of  Administrative  Agent and  Lenders  hereunder  or  thereunder,  at Law or in
equity.

                                   SECTION 9.
                              ADMINISTRATIVE AGENT

         9.01 Appointment and Authorization of Administrative Agent.

              (a) Each  Lender  hereby  irrevocably  (subject  to Section  9.09)
appoints,  designates and authorizes Administrative Agent to take such action on
its behalf under the  provisions of this  Agreement and each other Loan Document
and to exercise such powers and perform such duties as are  expressly  delegated
to it by the terms of this Agreement or any other Loan  Document,  together with
such powers as are reasonably incidental thereto.  Notwithstanding any provision
to the  contrary  contained  elsewhere  in this  Agreement  or in any other Loan
Document,  Administrative  Agent shall not have any duties or  responsibilities,
except those expressly set forth herein, nor shall  Administrative Agent have or
be deemed to have any fiduciary relationship with any Lender or participant, and
no  implied  covenants,  functions,  responsibilities,  duties,  obligations  or
liabilities  shall be read into this  Agreement  or any other Loan  Document  or
otherwise exist against Administrative Agent. Without limiting the generality of
the  foregoing  sentence,  the use of the term  "agent" in this  Agreement  with
reference to  Administrative  Agent is not intended to connote any  fiduciary or
other  implied (or express)  obligations  arising  under agency  doctrine of any
applicable law. Instead,  such term is used merely as a matter of market custom,
and is intended to create or reflect only an administrative relationship between
independent contracting parties.

              (b) Each  Issuing  Lender  shall  act on behalf  of  Lenders  with
respect  to any  Letters  of Credit  issued by it and the  documents  associated
therewith;  provided,  however,  that such Issuing  Lender shall have all of the
benefits and immunities (i) provided to  Administrative  Agent in this Section 9
with respect to any acts taken or omissions  suffered by such Issuing  Lender in
connection  with  Letters of Credit  issued by it or proposed to be issued by it
and the Letter of Credit  Applications  pertaining  to such Letters of Credit as
fully as if the term  "Administrative  Agent" as used in this Section 9 included
such  Issuing  Lender  with  respect  to such  acts or  omissions,  and  (ii) as
additionally provided in this Agreement with respect to such Issuing Lender.

              (c) Swing Line Lender  shall act on behalf of Lenders with respect
to any Swing Line Loans made by it,  provided,  however,  that Swing Line Lender
shall have all of the benefits  and  immunities  (i) provided to  Administrative
Agent in this Section 9 with respect to any acts taken or omissions  suffered by
Swing Line Lender in connection  with Swing Line Loans made by it as fully as if
the term  "Administrative  Agent" as used in this Section 9 included  Swing Line
Lender with respect to such acts or omissions, and (ii) as additionally provided
in this Agreement with respect to Swing Line Lender.

         9.02 Delegation of Duties.  Administrative Agent may execute any of its
duties  under this  Agreement or any other Loan  Document by or through  agents,
employees  or  attorneys-in-fact  and shall be

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<PAGE>

entitled to advice of counsel  concerning all matters pertaining to such duties.
Administrative  Agent shall not be responsible  for the negligence or misconduct
of any  agent  or  attorney-in-fact  that it  selects  in the  absence  of gross
negligence or willful misconduct.

         9.03 Liability of Administrative Agent. No Administrative Agent-Related
Person shall (i) be liable for any action taken or omitted to be taken by any of
them under or in  connection  with this  Agreement or any other Loan Document or
the  transactions  contemplated  hereby (except for its own gross  negligence or
willful misconduct in connection with its duties expressly set forth herein), or
(ii) be responsible in any manner to any Lender or participant  for any recital,
statement,  representation  or warranty made by Borrower or any officer thereof,
contained  in  this  Agreement  or  in  any  other  Loan  Document,  or  in  any
certificate, report, statement or other document referred to or provided for in,
or received by Administrative  Agent under or in connection with, this Agreement
or any  other  Loan  Document,  or  the  validity,  effectiveness,  genuineness,
enforceability  or sufficiency of this Agreement or any other Loan Document,  or
for any failure of  Borrower or any other party to any Loan  Document to perform
its obligations hereunder or thereunder. No Administrative  Agent-Related Person
shall be under any  obligation to any Lender or  participant  to ascertain or to
inquire as to the observance or  performance of any of the agreements  contained
in, or conditions of, this  Agreement or any other Loan Document,  or to inspect
the  properties,  books or records of Borrower or any  Subsidiary  or  Affiliate
thereof.

         9.04 Reliance by Administrative Agent.

              (a)  Administrative  Agent shall be entitled to rely, and shall be
fully  protected  in  relying,  upon  any  writing,  communication,   signature,
resolution,  representation,  notice, consent,  certificate,  affidavit, letter,
telegram,  facsimile, telex or telephone message, statement or other document or
conversation  believed by it to be genuine and correct and to have been  signed,
sent or made by the proper Person or Persons,  and upon advice and statements of
legal counsel (including counsel to Borrower), independent accountants and other
experts selected by Administrative  Agent.  Administrative  Agent shall be fully
justified  in failing or  refusing  to take any action  under any Loan  Document
unless it shall first receive such advice or concurrence of Required  Lenders or
all Lenders as it deems  appropriate  and, if it so requests,  it shall first be
indemnified  to its  satisfaction  by Lenders  against any and all liability and
expense  which may be incurred by it by reason of taking or  continuing  to take
any such action.  Administrative  Agent shall in all cases be fully protected in
acting,  or in refraining  from acting,  under this  Agreement or any other Loan
Document  in  accordance  with a request or consent of  Required  Lenders or all
Lenders, if required hereunder, and such request and any action taken or failure
to act  pursuant  thereto  shall be binding  upon all Lenders and  participants.
Where this Agreement  expressly  permits or prohibits an action unless  Required
Lenders  or  all  Lenders  otherwise  determine,  and in  all  other  instances,
Administrative   Agent  may,  but  shall  not  be  required  to,   initiate  any
solicitation for the consent or a vote of Lenders.

              (b) For purposes of  determining  compliance  with the  conditions
specified  in  Section  4.01,   absent   Requisite  Notice  by  such  Lender  to
Administrative  Agent to the  contrary,  each  Lender  shall be  deemed  to have
consented  to,  approved or accepted or to be satisfied  with,  each document or
other  matter  either sent by  Administrative  Agent to each Lender for consent,
approval,  acceptance or satisfaction, or required thereunder to be consented to
or approved by or acceptable or satisfactory to a Lender.

         9.05  Notice of  Default.  Administrative  Agent shall not be deemed to
have  knowledge or notice of the  occurrence of any Default or Event of Default,
except with respect to defaults in the payment of  principal,  interest and fees
required to be paid to Administrative  Agent for the account of Lenders,  unless
Administrative  Agent  shall  have  received  written  notice  from a Lender  or
Borrower  referring  to this
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<PAGE>

Agreement,  describing  such  Default or Event of Default and stating  that such
notice is a "notice of default." Administrative Agent will notify Lenders of its
receipt of any such  notice.  Administrative  Agent  shall take such action with
respect  to such  Default or Event of Default  as may be  directed  by  Required
Lenders in accordance with Section 8; provided,  however,  that unless and until
Administrative  Agent has received any such direction,  Administrative Agent may
(but shall not be obligated  to) take such  action,  or refrain from taking such
action,  with  respect  to such  Default  or Event of  Default  as it shall deem
advisable or in the best interest of Lenders.

         9.06 Credit  Decision;  Disclosure  of  Information  by  Administrative
Agent.   Each  Lender  and  participant   acknowledges  that  no  Administrative
Agent-Related  Person has made any representation or warranty to it, and that no
act by  Administrative  Agent  hereinafter  taken,  including any consent to and
acceptance of any  assignment or review of the affairs of Borrower or any of its
Subsidiaries or Affiliates,  shall be deemed to constitute any representation or
warranty by any Administrative Agent-Related Person to any Lender or participant
as to any matter,  including whether  Administrative  Agent-Related Persons have
disclosed material information in their possession.  Each Lender,  including any
Lender by assignment,  and each participant  represents to Administrative  Agent
that  it  has,  independently  and  without  reliance  upon  any  Administrative
Agent-Related  Person  and based on such  documents  and  information  as it has
deemed  appropriate,  made  its own  appraisal  of and  investigation  into  the
business,  prospects,  operations,  property,  financial and other condition and
creditworthiness  of  Borrower  and its  Subsidiaries  and  Affiliates,  and all
applicable  bank  regulatory  laws  relating  to the  transactions  contemplated
hereby,  and made its own  decision to enter into this  Agreement  and to extend
credit to Borrower  hereunder.  Each Lender and participant also represents that
it  will,   independently   and  without   reliance   upon  any   Administrative
Agent-Related  Person and based on such  documents and  information  as it shall
deem  appropriate  at the  time,  continue  to  make  its own  credit  analysis,
appraisals and decisions in taking or not taking action under this Agreement and
the other Loan Documents,  and to make such investigations as it deems necessary
to inform itself as to the business, prospects,  operations, property, financial
and other condition and  creditworthiness  of Borrower and its  Subsidiaries and
Affiliates.  Except for notices,  reports and other documents expressly required
to be furnished to Lenders by  Administrative  Agent herein (which shall include
the  notices,   reports  and  other   documents   described  in  Section  6.02),
Administrative  Agent shall not have any duty or  responsibility  to provide any
Lender or  participant  with any  credit  or other  information  concerning  the
business,  prospects,  operations,  property,  financial and other  condition or
creditworthiness  of Borrower or any of its Subsidiaries or Affiliates which may
come into the possession of any Administrative Agent-Related Person.

         9.07  Indemnification  of  Administrative  Agent.  Whether  or not  the
transactions  contemplated hereby are consummated,  Lenders shall indemnify upon
demand each Administrative Agent-Related Person (to the extent not reimbursed by
or on behalf of Borrower and without  limiting the  obligation of Borrower to do
so), pro rata, and hold harmless each Administrative  Agent-Related  Person from
and  against  any and all  Indemnified  Liabilities  incurred  by it;  provided,
however,  that no Lender  shall be liable for the payment to any  Administrative
Agent-Related  Person of any portion of such Indemnified  Liabilities  resulting
from such Person's gross negligence or willful  misconduct;  provided,  however,
that no action taken in accordance with the directions of Required Lenders shall
be deemed to constitute gross  negligence or willful  misconduct for purposes of
this Section.  Without limitation of the foregoing,  each Lender shall reimburse
Administrative  Agent  upon  demand  for  its  ratable  share  of any  costs  or
out-of-pocket  expenses  (including  Attorney Costs) incurred by  Administrative
Agent in connection with the preparation,  execution, delivery,  administration,
modification,  amendment or enforcement  (whether  through  negotiations,  legal
proceedings  or  otherwise)  of,  or  legal  advice  in  respect  of  rights  or
responsibilities under, this Agreement, any other Loan Document, or any document
contemplated by or referred to herein, to the extent that  Administrative  Agent
is not

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<PAGE>

reimbursed  for such expenses by or on behalf of Borrower.  The  undertaking  in
this Section  shall  survive the payment of all  Obligations  hereunder  and the
resignation of Administrative Agent.

         9.08 Administrative Agent in Individual  Capacity.  Bank of America and
its  Affiliates  may make loans to, issue  letters of credit for the account of,
accept deposits from,  acquire equity  interests in and generally  engage in any
kind of banking, trust, financial advisory,  underwriting or other business with
Borrower and its  Subsidiaries and Affiliates as though Bank of America were not
Administrative  Agent,  Swing Line Lender,  or an Issuing  Lender  hereunder and
without notice to or consent of Lenders.  Lenders and  participants  acknowledge
that, pursuant to such activities, Bank of America or its Affiliates may receive
information regarding Borrower or its Affiliates (including information that may
be  subject  to  confidentiality  obligations  in  favor  of  Borrower  or  such
Affiliate)  and  acknowledge  that  Administrative   Agent  shall  be  under  no
obligation to provide such information to them. With respect to its Loans,  Bank
of America  shall have the same rights and powers  under this  Agreement  as any
other  Lender  and may  exercise  the same as though it were not  Administrative
Agent, Swing Line Lender, or an Issuing Lender.

         9.09  Resignation by  Administrative  Agent.  Administrative  Agent may
resign  as   Administrative   Agent  upon  30  days'   notice  to  Lenders.   If
Administrative  Agent  resigns  under this  Agreement,  Required  Lenders  shall
appoint from among  Lenders a successor  administrative  agent for Lenders which
successor  administrative  agent shall be  consented to by Borrower at all times
other  than  during the  existence  of an Event of Default  (which  approval  of
Borrower  shall  not be  unreasonably  withheld  or  delayed).  If no  successor
administrative agent is appointed prior to the effective date of the resignation
of Administrative Agent, Administrative Agent may appoint, after consulting with
Lenders and Borrower,  a successor  administrative agent from among Lenders (or,
if no Lender is willing to act as successor  administrative  agent,  among other
commercial  banks  each  having  a  combined  capital  and  surplus  of at least
$1,000,000,000),  which successor  administrative agent shall be consented to by
Borrower  at all times other than  during the  existence  of an Event of Default
(which approval of Borrower shall not be unreasonably withheld or delayed). Upon
the acceptance of its appointment as successor  administrative  agent hereunder,
such successor  administrative agent shall succeed to all the rights, powers and
duties of the retiring  Administrative Agent and the term "Administrative Agent"
shall mean such successor  administrative agent and the retiring  Administrative
Agent's  appointment,  powers  and  duties  as  Administrative  Agent  shall  be
terminated.  After any retiring  Administrative Agent's resignation hereunder as
Administrative  Agent,  the  provisions of this Section 9 and Sections 10.03 and
10.13 shall inure to its benefit as to any actions  taken or omitted to be taken
by it while it was  Administrative  Agent under this Agreement.  If no successor
administrative  agent has accepted  appointment as  Administrative  Agent by the
date which is 30 days  following  a retiring  Administrative  Agent's  notice of
resignation,  the retiring Administrative Agent's resignation shall nevertheless
thereupon  become  effective  and  Lenders  shall  perform  all of the duties of
Administrative  Agent  hereunder  until such time,  if any, as Required  Lenders
appoint a successor  agent as provided for above.  As used in this Section 9.09,
"Administrative  Agent"  shall  also mean Swing  Line  Lender  and each  Issuing
Lender.  From and after the  effective  date of the  resignation  of Swing  Line
Lender or any Issuing Lender,  Swing Line Lender or such Issuing Lender,  as the
case may be, shall  continue to have the rights and  obligations  applicable  to
Swing Line Lender and Issuing  Lender,  as the case may be, with  respect to any
Swing Line Loans or Letters of Credit,  as the case may be,  outstanding on such
effective date.

         9.10  Other  Agents.  None of  Lenders  (other  than  Bank of  America)
identified on the facing page or signature  pages of this  Agreement as having a
title or role other than as a Lender  shall have any right,  power,  obligation,
liability,  responsibility  or  duty  under  this  Agreement  other  than  those
applicable  to all Lenders as such.  Without  limiting  the  foregoing,  none of
Lenders so identified shall have or be deemed to

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<PAGE>

have any fiduciary  relationship with any Lender.  Each Lender acknowledges that
it has not  relied,  and will not  rely,  on any of  Lenders  so  identified  in
deciding  to enter  into  this  Agreement  or in  taking  or not  taking  action
hereunder.

                                   SECTION 10.
                                  MISCELLANEOUS

         10.01 Amendments;  Consents.  No amendment,  modification,  supplement,
extension, termination or waiver of any provision of this Agreement or any other
Loan  Document,  no  approval  or  consent  thereunder,  and no  consent  to any
departure by Borrower  therefrom shall be effective  unless in writing signed by
Borrower and Required Lenders and acknowledged by Administrative Agent, and each
such waiver or consent shall be effective only in the specific  instance and for
the specific purpose for which given.  Notwithstanding  the foregoing  sentence,
without  the  approval  in writing of  Borrower,  Administrative  Agent and each
Lender affected thereby, no amendment,  modification,  supplement,  termination,
waiver, approval, or consent may be effective to:

              (a) Reduce the amount of principal of any Outstanding  Obligations
owed to such Lender;

              (b)  Reduce  the  rate  of  interest  payable  on any  Outstanding
Obligations owed to such Lender or the amount or rate of any fee or other amount
payable to such Lender under the Loan  Documents,  except that Required  Lenders
may waive or defer the imposition of the Default Rate;

              (c)  Waive  an Event  of  Default  consisting  of the  failure  of
Borrower to pay when due principal,  interest,  any facility or utilization fee,
or any other amount payable to such Lender under the Loan Documents;

              (d) Postpone any date  scheduled  for the payment of principal of,
or interest on, any Loan or any Letter of Credit reimbursement obligation or for
the payment of any facility or  utilization  fee or for the payment of any other
amount, in each case payable to such Lender under the Loan Documents,  or extend
the term of, or  increase  the amount of,  such  Lender's  Commitment  (it being
understood  that a waiver of any Event of Default not referred to in  subsection
(c) above shall require only the consent of Required  Lenders) or modify the Pro
Rata Share of such Lender (except as contemplated hereby);

              (e) Amend or waive the  definition  of  "Required  Lenders" or the
provisions of this Section 10.01 or Section 10.06; or

              (f) Amend or waive any provision of this  Agreement that expressly
requires the consent or approval of such Lender;

provided,  however,  that (i) no amendment,  waiver or consent shall,  unless in
writing and signed by the affected  Issuing Lender or Swing Line Lender,  as the
case may be, in addition to Required  Lenders or each  affected  Lender,  as the
case may be,  affect the rights or duties of such  Issuing  Lender or Swing Line
Lender, as the case may be, (ii) no amendment,  waiver or consent shall,  unless
in writing and signed by Administrative Agent in addition to Required Lenders or
each  affected  Lender,  as the case may be,  affect  the  rights  or  duties of
Administrative  Agent,  (iii)  any fee  letters  may be  amended,  or  rights or
privileges thereunder waived, in a writing executed by the parties thereto; (iv)
any amendment, waiver, or consent to a Letter of Credit Application which is not
inconsistent  with  Section  2.03 shall  require  only the  written  approval of
Borrower,  Administrative  Agent and the applicable  Issuing Lender; and (v) any
amendment,

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<PAGE>

waiver or consent  relating  to the timing of any Swing Line Loan,  the  Minimum
Amount of any Swing Line Loan or any procedural matter respecting any Swing Line
Loan  shall  require  only  the  consent  of Swing  Line  Lender,  Borrower  and
Administrative  Agent.  Any amendment,  modification,  supplement,  termination,
waiver or consent  pursuant to this Section shall apply equally to, and shall be
binding upon, all Lenders and Administrative Agent.

         10.02  Requisite  Notice;  Effectiveness  of Signatures  and Electronic
Mail.

              (a) Requisite  Notice.  Notices given in connection  with any Loan
Document  shall be  delivered to the  intended  recipient  at the number  and/or
address set forth on the Administrative Questionnaire (or as otherwise specified
from time to time by such  recipient  in  writing to  Administrative  Agent) and
shall be given by (i)  irrevocable  written  notice or (ii) except as  otherwise
provided,  irrevocable  telephonic (not voicemail)  notice.  Such notices may be
delivered, must be confirmed and shall be effective as follows:

Mode of Delivery           Effective on earlier of actual receipt, and:
-------------------------  -----------------------------------------------------
Mail                       Fourth Business Day after deposit in U.S. Mail, first
                           class postage pre-paid

Courier or hand delivery   When signed for by recipient

Telephone (not voicemail)  When conversation completed (must be confirmed in
                           writing)

Facsimile                  When confirmed by telephone (not voicemail)

Electronic Mail            When delivered (usage subject to subsection (c)
                           below)

provided,  however,  that notices delivered to Administrative  Agent pursuant to
Section 2 shall not be  effective  until  actually  received  by  Administrative
Agent; provided,  further, that Administrative Agent may require that any notice
be confirmed or followed by a manually-signed  hard copy thereof.  Notices shall
be in any form  prescribed  herein and, if sent by Borrower,  shall be made by a
Responsible Officer of Borrower.  Notices delivered and, if required,  confirmed
in accordance  with this  subsection  shall be deemed to have been  delivered by
Requisite Notice.

              (b)  Effectiveness  of Facsimile  Documents and  Signatures.  Loan
Documents may be transmitted  and/or signed by facsimile.  The  effectiveness of
any such documents and  signatures  shall,  subject to applicable  Law, have the
same force and  effect as  manually-signed  hard  copies and shall be binding on
Borrower,  Administrative  Agent  and  Lenders.  Administrative  Agent  may also
require that any such documents and signatures be confirmed by a manually-signed
hard copy thereof; provided, however, that the failure to request or deliver the
same shall not limit the effectiveness of any facsimile document or signature.

              (c) Limited Usage of Electronic Mail. Electronic mail and internet
and intranet websites may be used to distribute routine communications,  such as
financial  statements and other  information,  and  todistribute  agreements and
other documents to be signed by Administrative Agent, Lenders and Borrower.

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<PAGE>

No other  legally-binding  and/or  time-sensitive  communication  or Request for
Extension  of Credit may be sent by  electronic  mail without the consent of, or
confirmation to, the intended recipient in each instance.

              (d) Reliance by Administrative  Agent and Lenders.  Administrative
Agent and Lenders shall be entitled to rely and act upon any notices purportedly
given by or on behalf of Borrower  even if (i) such  notices  were not made in a
manner specified herein, were incomplete or were not preceded or followed by any
other notice specified herein,  or (ii) the terms thereof,  as understood by the
recipient,  varied  from any  confirmation  thereof.  Borrower  shall  indemnify
Administrative Agent-Related Persons and Lenders from any loss, cost, expense or
liability  as a result of  relying  on any  notices  purportedly  given by or on
behalf of Borrower  absent the gross  negligence  or willful  misconduct  of the
Person seeking indemnification.

         10.03 Attorney Costs, Expenses and Taxes. Borrower agrees (a) to pay or
reimburse  Administrative  Agent and Lead Arrangers for all reasonable costs and
expenses incurred in connection with the development,  preparation,  negotiation
and  execution of the Loan  Documents,  and to pay or  reimburse  Administrative
Agent for all  reasonable  costs and expenses  incurred in  connection  with the
development,  preparation,  negotiation and execution of any amendment,  waiver,
consent,  supplement  or  modification  to,  any Loan  Documents,  and any other
documents prepared in connection herewith or therewith, and the consummation and
administration of the transactions  contemplated  hereby and thereby,  including
all  Attorney  Costs  of  Administrative  Agent,  and  (b) to  pay or  reimburse
Administrative  Agent and each  Lender for all costs and  expenses  incurred  in
connection  with  any  restructuring,  reorganization  (including  a  bankruptcy
reorganization)  or enforcement or attempted  enforcement of, or preservation of
any rights  under,  any Loan  Documents,  and any other  documents  prepared  in
connection  herewith or therewith,  or in  connection  with any  refinancing  or
restructuring  of any such  documents  in the  nature of a  "workout"  or of any
insolvency or bankruptcy proceeding, including Attorney Costs. The agreements in
this Section shall survive repayment of all Obligations.

         10.04 Binding Effect; Assignment.

              (a) This  Agreement and the other Loan Documents to which Borrower
is a  party  will  be  binding  upon  and  inure  to the  benefit  of  Borrower,
Administrative  Agent,  Lenders and their  respective  successors  and  assigns,
except that,  Borrower may not, except as permitted by Section 7.03,  assign its
rights  hereunder or  thereunder or any interest  herein or therein  without the
prior written consent of all Lenders and any such attempted  assignment shall be
void.  Any  Lender  may at any  time  pledge  its Note or any  other  instrument
evidencing its rights as a Lender under this Agreement to a Federal Reserve Bank
or, if such Lender is a fund, to any trustee or to any other  representative  of
holders of  obligations  owed or securities  issued by such fund as security for
such  obligations  or  securities,  but no such pledge shall release such Lender
from its obligations hereunder or grant to such Federal Reserve Bank or trust or
other representative the rights of a Lender hereunder absent foreclosure of such
pledge, and any transfer to any Person upon the enforcement of such pledge shall
be subject to this Section 10.04.

              (b) From time to time following the Closing Date,  each Lender may
assign  to one or more  banks or other  financial  institutions,  each  having a
combined capital and surplus of at least $250,000,000 (such qualifications being
subject to waiver by Borrower and  Administrative  Agent), all or any portion of
its Commitment and/or  Extensions of Credit;  provided that (i) such assignment,
if not to a Lender or an Affiliate of the assigning  Lender,  shall be consented
to (which consents shall not be unreasonably  withheld) by Borrower at all times
other than during the  existence  of an Event of Default  and by  Administrative
Agent,  Swing Line Lender and each Issuing Lender,  (ii) a copy of a duly signed
and completed  Assignment  and Acceptance  shall be delivered to  Administrative
Agent, (iii) except in the case of an assignment (A) to an

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<PAGE>

Affiliate  of the  assigning  Lender or to  another  Lender or (B) of the entire
remaining  Commitment of the  assigning  Lender,  the portion of the  Commitment
assigned  shall  not be less  than the  Minimum  Amount  therefor,  and (iv) the
effective  date of any such  assignment  shall be as specified in the Assignment
and Acceptance,  but not earlier than the date which is five Business Days after
the date Administrative  Agent has received the Assignment and Acceptance.  Upon
obtaining  any consent  required as set forth in the prior  sentence,  any forms
required by Section 10.20 and payment of the requisite fee described  below, the
assignee  named therein shall be a Lender for all purposes of this  Agreement to
the  extent  of the  Assigned  Interest  (as  defined  in  such  Assignment  and
Acceptance), and, except for rights and obligations which by their terms survive
termination of any Commitments,  the assigning Lender shall be released from any
further  obligations  under  this  Agreement  to the  extent  of  such  Assigned
Interest.  Upon request,  Borrower  shall execute and deliver new or replacement
Notes to the assigning  Lender and the assignee Lender to evidence Loans made by
them.  Administrative  Agent's consent to any assignment  shall not be deemed to
constitute any  representation or warranty by any  Administrative  Agent-Related
Person as to any  matter.  Administrative  Agent  shall  record the  information
contained in the Assignment and Acceptance in the Register.

              (c) After receipt of a completed  Assignment and  Acceptance,  and
receipt of an assignment fee of $3,500 from such assignee  and/or such assigning
Lender  (including  in the  case  of  assignments  to  Affiliates  of  assigning
Lenders),  Administrative  Agent shall,  promptly  following the effective  date
thereof,  provide to Borrower and Lenders a revised  Schedule 2.01 giving effect
thereto.

              (d) Each Lender may from time to time,  without the consent of any
other  Person,  grant  participations  to one or more other  Persons  (including
another  Lender) in all or any  portion of its Pro Rata Share of its  Commitment
and/or  Extensions  of  Credit;  provided,   however,  that  (i)  such  Lender's
obligations under this Agreement shall remain unchanged,  (ii) such Lender shall
remain solely  responsible  to the other parties  hereto for the  performance of
such obligations,  (iii) the participating  bank or other financial  institution
shall not be a Lender  hereunder for any purpose  except,  if the  participation
agreement so provides,  for the purposes of the  increased  cost  provisions  of
Section 3 (but only to the extent  that the cost of such  benefits  to  Borrower
does not exceed the cost which  Borrower  would have incurred in respect of such
Lender  absent  the  participation)  and for  purposes  of Section  10.06,  (iv)
Borrower,  Administrative  Agent and the other  Lenders  shall  continue to deal
solely and directly with such Lender in connection with such Lender's rights and
obligations  under  this  Agreement,  and (v) the  consent of the holder of such
participation  interest  shall not be  required  for  amendments  or  waivers of
provisions of the Loan Documents;  provided,  however, that the assigning Lender
may, in any agreement with a  participant,  give such  participant  the right to
consent (as between the  assigning  Lender and such  participant)  to any matter
which (A) extends the  Maturity  Date as to such  participant  or any other date
upon which any payment of money is due to such participant, (B) reduces the rate
of interest owing to such  participant  or any fee or any other monetary  amount
owing to such participant, or (C) reduces the amount of any scheduled payment of
principal owing to such  participant.  Any Lender that sells a participation  to
any Person  that is a "foreign  corporation,  partnership  or trust"  within the
meaning  of the Code  shall  include in its  participation  agreement  with such
Person  a  covenant  by such  Person  that  such  Person  will  comply  with the
provisions  of Section  10.20 as if such Person  were a Lender and provide  that
Administrative  Agent and Borrower  shall be third party  beneficiaries  of such
covenant. Each Lender that sells or grants a participation shall (a) withhold or
deduct from each payment to the holder of such  participation  the amount of any
tax required  under  applicable law to be withheld or deducted from such payment
and not withheld or deducted therefrom by Borrower or Administrative  Agent, (b)
pay the tax so withheld or deducted by it to the appropriate taxing authority in
accordance  with  applicable law and (c) indemnify  Borrower and  Administrative
Agent for any losses,  cost and expenses  that they may incur as a result of any
failure to so withhold or deduct and pay such tax.

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         10.05 Set-off. In addition to any rights and remedies of Administrative
Agent and Lenders or any assignee of any Lender or any Affiliate  thereof (each,
a  "Proceeding  Party")  provided  by law,  upon the  occurrence  and during the
continuance of any Event of Default,  each Proceeding Party is authorized at any
time and from time to time,  without  prior notice to Borrower,  any such notice
being  waived by  Borrower to the fullest  extent  permitted  by law, to proceed
directly, by right of set-off, banker's lien or otherwise, against any assets of
Borrower  which  may be in the hands of such  Proceeding  Party  (including  all
general or special,  time or demand,  provisional  or other  deposits  and other
indebtedness  owing by such Proceeding Party to or for the credit or the account
of Borrower) and apply such assets against the Obligations then due and payable,
irrespective  of  whether  such  Proceeding  Party  shall  have made any  demand
therefor.  Each Lender  agrees  promptly to notify  Borrower and  Administrative
Agent after any such  set-off and  application  made by such  Lender;  provided,
however,  that the failure to give such notice  shall not affect the validity of
such set-off and application.

         10.06  Sharing of Payments.  Each Lender  severally  agrees that if it,
through  the  exercise  of any right of setoff,  banker's  lien or  counterclaim
against Borrower or otherwise, receives payment of the Obligations held by it of
a type owed  ratably to the various  Lenders that is ratably more than any other
Lender receives in payment of those Obligations held by such other Lender, then,
subject to  applicable  Laws,  (a) such Lender  exercising  the right of setoff,
banker's  lien  or  counterclaim  or  otherwise  receiving  such  payment  shall
purchase, and shall be deemed to have simultaneously  purchased,  from the other
Lender a participation in the Obligations held by the other Lender and shall pay
to the  other  Lender a  purchase  price in an  amount  so that the share of the
Obligations  held by each  Lender  after the  exercise  of the right of  setoff,
banker's  lien or  counterclaim  or  receipt  of  payment  shall  be in the same
proportion  that existed prior to the exercise of the right of setoff,  banker's
lien or counterclaim or receipt of payment;  and (b) such other  adjustments and
purchases  of  participations  shall  be made  from  time to  time as  shall  be
equitable  to ensure that all Lenders  share any payment  obtained in respect of
the  Obligations   ratably  in  accordance  with  each  Lender's  share  of  the
Obligations  immediately prior to, and without taking into account, the payment;
provided that, if all or any portion of a disproportionate payment obtained as a
result of the exercise of the right of setoff,  banker's lien,  counterclaim  or
otherwise is thereafter  recovered from the purchasing Lender by Borrower or any
Person claiming through or succeeding to the rights of Borrower, the purchase of
a  participation  shall be rescinded  and the purchase  price  thereof  shall be
restored to the extent of the recovery,  but without interest.  Each Lender that
purchases a participation in the Obligations pursuant to this Section shall from
and after the purchase  have the right to give all notices,  requests,  demands,
directions  and other  communications  under this  Agreement with respect to the
portion of the Obligations purchased to the same extent as though the purchasing
Lender were the original owner of the Obligations purchased.  Borrower expressly
consents to the  foregoing  arrangements  and agrees  that any Lender  holding a
participation  in an  Obligation so purchased may exercise any and all rights of
setoff, banker's lien or counterclaim with respect to the participation as fully
as if Lender were the original owner of the Obligation purchased.

         10.07 No Waiver; Cumulative Remedies.

              (a) No failure by any Lender or Administrative  Agent to exercise,
and no delay by any Lender or  Administrative  Agent in  exercising,  any right,
remedy,  power or privilege  hereunder  shall operate as a waiver  thereof;  nor
shall any single or partial  exercise of any right,  remedy,  power or privilege
under any Loan Document  preclude any other or further  exercise  thereof or the
exercise of any other right, remedy, power or privilege.

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<PAGE>

              (b) The rights, remedies,  powers and privileges herein or therein
provided are  cumulative and not exclusive of any rights,  remedies,  powers and
privileges  provided by Law. Any decision by Administrative  Agent or any Lender
not to require payment of any interest (including interest at the Default Rate),
fee,  cost or other amount  payable  under any Loan Document or to calculate any
amount  payable by a particular  method on any occasion shall in no way limit or
be deemed a waiver of  Administrative  Agent's or such Lender's right to require
full payment  thereof,  or to calculate an amount payable by another method that
is not inconsistent with this Agreement, on any other or subsequent occasion.

              (c) Except with respect to Section 9.09,  the terms and conditions
of Section 9 are for the sole benefit of Administrative Agent and Lenders.

         10.08 Usury.  Notwithstanding anything to the contrary contained in any
Loan  Document,  the interest paid or agreed to be paid under the Loan Documents
shall  not  exceed  the  maximum  rate of  non-usurious  interest  permitted  by
applicable Law (the "Maximum Rate"). If Administrative Agent or any Lender shall
receive  interest in an amount that  exceeds the  Maximum  Rate,  the  excessive
interest shall be applied to the principal of the Outstanding Obligations or, if
it exceeds the unpaid principal,  refunded to Borrower.  In determining  whether
the interest contracted for, charged or received by Administrative  Agent or any
Lender  exceeds the Maximum  Rate,  such Person may, to the extent  permitted by
applicable  Law,  (a)  characterize  any  payment  that is not  principal  as an
expense, fee or premium rather than interest,  (b) exclude voluntary prepayments
and the effects  thereof,  and (c) amortize,  prorate,  allocate and spread,  in
equal or unequal parts, the total amount of interest throughout the contemplated
term of the Obligations.

         10.09  Counterparts.  This  Agreement  may be  executed  in one or more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

         10.10  Integration.  This  Agreement,  together  with  the  other  Loan
Documents and any letter agreements  referred to herein,  comprises the complete
and integrated  agreement of the parties regarding the subject matter hereof and
supersedes all prior agreements,  written or oral, on the subject matter hereof.
In the event of any conflict  between the provisions of this Agreement and those
of any other Loan Document,  the provisions of this Agreement  shall control and
govern;  provided that the inclusion of supplemental rights or remedies in favor
of  Administrative  Agent or  Lenders in any other  Loan  Document  shall not be
deemed a conflict with this  Agreement.  Each Loan Document was drafted with the
joint  participation  of the respective  parties  thereto and shall be construed
neither  against nor in favor of any party,  but rather in  accordance  with the
fair meaning thereof.  THE LOAN DOCUMENTS  REPRESENT THE FINAL AGREEMENT BETWEEN
THE  PARTIES  THERETO  AND  MAY  NOT  BE  CONTRADICTED  BY  EVIDENCE  OF  PRIOR,
CONTEMPORANEOUS,  OR SUBSEQUENT  ORAL  AGREEMENTS BY SUCH PARTIES.  THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN SUCH PARTIES.

         10.11  Nature  of  Lenders'  Obligations.  Nothing  contained  in  this
Agreement or any other Loan Document and no action taken by Administrative Agent
or Lenders or any of them  pursuant  hereto or thereto may, or may be deemed to,
make Lenders a  partnership,  an  association,  a joint venture or other entity,
either  among  themselves  or with  Borrower or any  Subsidiary  or Affiliate of
Borrower.  Each Lender's  obligation  to make any  Extension of Credit  pursuant
hereto is several  and not joint or joint and  several.  A default by any Lender
will not increase the Pro Rata Share attributable to any other Lender.

                                            Five-Year Revolving Credit Agreement

                                       52

<PAGE>

         10.12 Survival of Representations  and Warranties.  All representations
and  warranties  made hereunder and in any other Loan Document shall survive the
execution and delivery thereof. Such representations and warranties have been or
will be relied upon by Administrative Agent and each Lender, notwithstanding any
investigation made by Administrative Agent or any Lender or on their behalf.

         10.13 Indemnity by Borrower.

              (a)  Whether  or not  the  transactions  contemplated  hereby  are
consummated,   Borrower  agrees  to  indemnify,  save  and  hold  harmless  each
Administrative  Agent-Related  Person  and  each  Lender  and  their  respective
Affiliates,  directors,  officers, agents, attorneys and employees (collectively
the "Indemnitees") from and against: (i) any and all claims, demands, actions or
causes of action that are asserted  against any  Indemnitee by any Person (other
than  Administrative  Agent or any Lender) relating  directly or indirectly to a
claim, demand,  action or cause of action that such Person asserts or may assert
against  Borrower,  any of its  Affiliates  or any of its officers or directors;
(ii) any and all claims, demands,  actions or causes of action arising out of or
relating to the Loan Documents, the Commitments,  the use or contemplated use of
the  proceeds of any  Extension  of Credit,  or the  relationship  of  Borrower,
Administrative Agent and Lenders under this Agreement;  (iii) any administrative
or  investigative  proceeding by any  Governmental  Authority  arising out of or
related to a claim,  demand,  action or cause of action  described in subsection
(i) or (ii) above; and (iv) any and all liabilities (including liabilities under
indemnities),  losses,  costs or expenses  (including Attorney Costs (limited to
one law firm for Lenders  unless  Lenders have  differing  interests or defenses
that  preclude the  engagement of one law firm to represent  Lenders))  that any
Indemnitee  suffers  or  incurs as a result of the  assertion  of any  foregoing
claim,  demand,  action,  cause of action or  proceeding,  or as a result of the
preparation  of any defense in  connection  with any  foregoing  claim,  demand,
action, cause of action or proceeding,  in all cases, including settlement costs
incurred with the prior written  consent of Borrower (which consent shall not be
unreasonably  withheld),  whether or not  arising  out of the  negligence  of an
Indemnitee,  and whether or not an Indemnitee is a party to such claim,  demand,
action,  cause of action or proceeding  (all the  foregoing,  collectively,  the
"Indemnified  Liabilities");  provided that no  Indemnitee  shall be entitled to
indemnification  for any loss  caused by its own  gross  negligence  or  willful
misconduct.  The  agreements  in this  Section  shall  survive  repayment of all
Obligations.

         10.14 Nonliability of Lenders. Borrower acknowledges and agrees that:

              (a) Any inspections of any property of Borrower made by or through
Administrative  Agent or Lenders are for purposes of  administration of the Loan
Documents  only,  and Borrower is not entitled to rely upon the same (whether or
not such inspections are at the expense of Borrower);

              (b) By accepting or  approving  anything  required to be observed,
performed, fulfilled or given to Administrative Agent or Lenders pursuant to the
Loan Documents, neither Administrative Agent nor Lenders shall be deemed to have
warranted or  represented  the  sufficiency,  legality,  effectiveness  or legal
effect of the same,  or of any term,  provision or condition  thereof,  and such
acceptance or approval thereof shall not constitute a warranty or representation
to anyone with respect thereto by Administrative Agent or Lenders;

              (c) The relationship between Borrower and Administrative Agent and
Lenders is, and shall at all times remain,  solely that of borrower and lenders;
neither  Administrative  Agent nor any Lender  shall under any  circumstance  be
deemed  to  be  in  a  relationship  of  confidence  or  trust  or  a  fiduciary
relationship  with Borrower or its  Affiliates,  or to owe any fiduciary duty to
Borrower  or  its  Affiliates;  neither  Administrative  Agent  nor  any  Lender
undertakes or assumes any  responsibility  or duty to Borrower or its Affiliates
to select, review, inspect,  supervise, pass judgment upon or inform Borrower or
its Affiliates of any matter in connection with their property or the operations
of Borrower or its

                                            Five-Year Revolving Credit Agreement

                                       53

<PAGE>

Affiliates;  Borrower  and its  Affiliates  shall rely  entirely  upon their own
judgment with respect to such matters; and any review, inspection,  supervision,
exercise  of  judgment  or  supply  of  information  undertaken  or  assumed  by
Administrative Agent or any Lender in connection with such matters is solely for
the protection of Administrative  Agent and Lenders and neither Borrower nor any
other Person is entitled to rely thereon; and

              (d)  Neither   Administrative   Agent  nor  any  Lender  shall  be
responsible or liable to any Person for any loss, damage,  liability or claim of
any kind relating to injury or death to Persons or damage to property  caused by
the  actions,  inaction or  negligence  of Borrower  and/or its  Affiliates  and
Borrower hereby indemnifies and holds  Administrative Agent and Lenders harmless
from any such loss, damage, liability or claim.

         10.15 No  Third  Parties  Benefitted.  This  Agreement  is made for the
purpose of defining and setting forth certain obligations,  rights and duties of
Borrower,  Administrative Agent and Lenders in connection with the Extensions of
Credit, and is made for the sole benefit of Borrower,  Administrative  Agent and
Lenders,  and  Administrative  Agent's and  Lenders'  successors  and  permitted
assigns.  Except as provided in Sections 10.04 and 10.13,  no other Person shall
have any rights of any nature hereunder or by reason hereof.

         10.16 Severability.  Any  provision  of the  Loan  Documents  that  is
prohibited or unenforceable in any jurisdiction  shall, as to such jurisdiction,
be   ineffective   and   severable  to  the  extent  of  such   prohibition   or
unenforceability  without invalidating the remaining provisions thereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or
render  unenforceable such provision in any other  jurisdiction.  Administrative
Agent,  Lenders and Borrower agree to negotiate,  in good faith,  the terms of a
replacement provision as similar to the severed provision as may be possible and
be legal, valid, and enforceable.

         10.17 Confidentiality.  Administrative Agent and each Lender shall use
any confidential non-public information concerning Borrower and its Subsidiaries
and Affiliates that is furnished to Administrative Agent or such Lender by or on
behalf of Borrower and its  Subsidiaries  in connection  with the Loan Documents
(collectively,   "Confidential   Information")   solely   for  the   purpose  of
administering   and  enforcing  the  Loan  Documents,   and  it  will  hold  the
Confidential   Information   in  confidence.   Notwithstanding   the  foregoing,
Administrative Agent and each Lender may disclose  Confidential  Information (a)
to their affiliates or any of their or their  affiliates'  directors,  officers,
employees,  auditors, counsel, advisors, or representatives  (collectively,  the
"Representatives")  who need to know such information for the purposes set forth
in this Section and who have been advised of and acknowledge their obligation to
keep such information  confidential in accordance with this Section,  (b) to any
bank or financial  institution or other entity to which such Lender has assigned
or desires to assign an interest or  participation  in the Loan Documents or the
Obligations,  provided that any such  foregoing  recipient of such  Confidential
Information  agrees  to  keep  such  Confidential  Information  confidential  as
specified  herein,  (c) to any governmental  agency or regulatory body having or
claiming to have  authority to regulate or oversee any aspect of  Administrative
Agent's or such Lender's business or that of their Representatives in connection
with the  exercise of such  authority  or claimed  authority,  (d) to the extent
necessary or  appropriate  to enforce any right or remedy or in connection  with
any claims asserted by or against  Administrative Agent or such Lender or any of
their  Representatives,  and (e) pursuant to any  subpoena or any similar  legal
process.  For purposes hereof,  the term  "Confidential  Information"  shall not
include  information  that  (x)  is  in  Administrative  Agent's  or a  Lender's

                                            Five-Year Revolving Credit Agreement

                                       54

<PAGE>

possession prior to its being provided by or on behalf of Borrower or any of its
Subsidiaries  or  Affiliates,  provided  that such  information  is not known by
Administrative  Agent or such  Lender to be subject  to another  confidentiality
agreement with, or other legal or contractual  obligation of confidentiality to,
Borrower or any of its  Subsidiaries or Affiliates,  (y) is or becomes  publicly
available  (other than through a breach hereof by  Administrative  Agent or such
Lender),  or (z) becomes available to  Administrative  Agent or such Lender on a
nonconfidential  basis,  provided  that the source of such  information  was not
known by  Administrative  Agent or such Lender to be bound by a  confidentiality
agreement  or other legal or  contractual  obligation  of  confidentiality  with
respect to such information.

         10.18  Headings. Section  headings in this Agreement and the other Loan
Documents  are included for  convenience  of reference  only and are not part of
this Agreement or the other Loan Documents for any other purpose.

         10.19  Time  of the  Essence.  Time  is of  the  essence  of  the  Loan
Documents.

         10.20  Foreign  Lenders.  Each  Lender  organized  under  the Laws of a
jurisdiction  outside the United States,  on or prior to the Closing Date in the
case of each Lender listed on the signature  pages hereof and on or prior to the
date on which it  becomes a Lender in the case of each  other  Lender,  and from
time to time  thereafter  if requested in writing by Borrower or  Administrative
Agent (but only so long as such Lender  remains  lawfully able to do so),  shall
provide  Borrower and  Administrative  Agent with (i) if such Lender is a "bank"
within the meaning of Section  881(c)(3)(A)  of the Code, IRS Form 1001 or 4224,
as  appropriate,  or any successor form  prescribed by the IRS,  certifying that
such  Lender is  entitled  to  benefits  under an income tax treaty to which the
United States is a party which reduces the rate of  withholding  tax on payments
of  interest  or  certifying  that the income  receivable  pursuant  to the Loan
Documents is  effectively  connected  with the conduct of a trade or business in
the United States,  or (ii) if such Lender is not a "bank" within the meaning of
Section  881(c)(3)(A)  of the Code and intends to claim an exemption from United
States  withholding  tax under Section 871(h) or 881(c) of the Code with respect
to  payments  of  "portfolio  interest,"  IRS Form W-8,  or any  successor  form
prescribed by the IRS, and a certificate  representing that such Lender is not a
bank  for  purposes  of  Section  881(c)  of  the  Code,  is  not a  ten-percent
shareholder  (within  the  meaning  of  Section  871(h)(3)(B)  of the  Code)  of
Borrower,  and is not a  controlled  foreign  corporation  related  to  Borrower
(within the meaning of Section 864(d)(4) of the Code).  Thereafter and from time
to time, each such Person shall (a) promptly submit to Administrative Agent such
additional  duly  completed  and  signed  copies  of one of such  forms (or such
successor  forms as shall be adopted  from time to time by the  relevant  United
States taxing  authorities)  as may then be available  under then current United
States laws and  regulations to avoid,  or such evidence as is  satisfactory  to
Borrower and Administrative  Agent of any available  exemption from or reduction
of,  United  States  withholding  taxes in respect of all payments to be made to
such  Person  by  Borrower  pursuant  to this  Agreement,  (b)  promptly  notify
Administrative Agent of any change in circumstances which would modify or render
invalid any claimed exemption or reduction, and (c) take such steps as shall not
be materially  disadvantageous to it, in the reasonable judgment of such Lender,
and as may be reasonably  necessary (including the re-designation of its Lending
Office) to avoid any  requirement  of  applicable  Laws that  Borrower  make any
deduction or withholding for taxes from amounts payable to such Person.  If such
Person  fails  to  deliver  the  above  forms  or  other   documentation,   then
Administrative  Agent may withhold  from any interest  payment to such Person an
amount equivalent to the applicable withholding tax imposed by Sections 1441 and
1442 of the Code, without reduction.  If any Governmental Authority asserts that
Administrative  Agent did not  properly  withhold  any tax or other  amount from
payments  made  in  respect  of  such  Person,   such  Person  shall   indemnify
Administrative Agent therefor,  including all penalties and interest,  any taxes
imposed by any  jurisdiction  on the  amounts  payable  to the Agent  under this
Section,  and costs and expenses  (including  Attorney Costs) of  Administrative
Agent. The obligation of Lenders under this Section shall survive the payment of
all Obligations and the resignation of Administrative Agent.

                                            Five-Year Revolving Credit Agreement

                                       55

<PAGE>

         10.21 Removal and Replacement of Lenders.

              (a) Under any circumstances set forth in this Agreement  providing
that  Borrower  shall have the right to remove or replace a Lender as a party to
this  Agreement,  Borrower  may,  upon notice to such Lender and  Administrative
Agent,  remove  such  Lender  by  (i)  non  ratably  terminating  such  Lender's
Commitment and/or (ii) causing such Lender to assign its Commitment  pursuant to
Section 10.04(b) to one or more other Lenders or eligible  assignees procured by
Borrower.  Borrower  shall,  in the  case  of a  termination  of  such  Lender's
Commitment  pursuant  to clause (i)  preceding,  (x) pay in full all  principal,
interest,  fees and  other  amounts  owing to such  Lender  through  the date of
termination  (including any amounts payable  pursuant to Section 3), (y) provide
appropriate  assurances and indemnities (which may include letters of credit) to
such Lender and Issuing  Lender as each may  reasonably  require with respect to
any  continuing  risk  participation  interest in any Letters of Credit or Swing
Line Loans then  outstanding  and (z) release  such Lender from its  obligations
under the Loan Documents from and after the date of termination. Borrower shall,
in the case of an assignment pursuant to clause (ii) preceding, cause to be paid
the assignment fee payable to Administrative Agent pursuant to Section 10.04(c).
Any such Lender whose  Commitment is being assigned shall execute and deliver an
Assignment  and  Acceptance  covering such Lender's  Commitment.  Administrative
Agent  shall  distribute  an  amended  Schedule  2.01,  which  shall  be  deemed
incorporated  into this Agreement,  to reflect  adjustments to Lenders and their
Commitments.

              (b) This section shall  supercede any  provisions in Section 10.01
to the contrary.

         10.22 Governing Law.

              (a) THE LOAN  DOCUMENTS HAVE BEEN ENTERED INTO PURSUANT TO SECTION
5-1401 OF THE NEW YORK GENERAL  OBLIGATIONS  LAW AND THE LOAN DOCUMENT  SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO AGREEMENTS  MADE AND TO BE PERFORMED  ENTIRELY  WITHIN SUCH STATE;
PROVIDED  THAT  ADMINISTRATIVE  AGENT AND EACH  LENDER  SHALL  RETAIN ALL RIGHTS
ARISING UNDER FEDERAL LAW.

              (b) ANY LEGAL ACTION OR PROCEEDING  WITH RESPECT TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK
SITTING IN THE BOROUGH OF  MANHATTAN  OR OF THE UNITED  STATES FOR THE  SOUTHERN
DISTRICT  OF SUCH  STATE,  AND BY  EXECUTION  AND  DELIVERY  OF THIS  AGREEMENT,
BORROWER,  ADMINISTRATIVE  AGENT AND EACH  LENDER  CONSENTS,  FOR  ITSELF AND IN
RESPECT OF ITS  PROPERTY,  TO THE  NON-EXCLUSIVE  JURISDICTION  OF THOSE  COURTS
PURSUANT TO SECTION 5-1402 OF THE NEW YORK GENERAL  OBLIGATIONS  LAW.  BORROWER,
ADMINISTRATIVE AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING
ANY  OBJECTION  TO THE  LAYING  OF VENUE OR BASED ON THE  GROUNDS  OF FORUM  NON
CONVENIENS,  WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR
PROCEEDING  IN SUCH  JURISDICTION  IN  RESPECT  OF ANY  LOAN  DOCUMENT  OR OTHER
DOCUMENT RELATED THERETO. BORROWER,  ADMINISTRATIVE AGENT AND EACH LENDER WAIVES
PERSONAL SERVICE OF ANY SUMMONS,  COMPLAINT OR OTHER PROCESS,  WHICH MAY BE MADE
BY THE MAILING OF COPIES THEREOF BY CERTIFIED  MAIL,  RETURN RECEIPT  REQUESTED,
POSTAGE  PREPAID,  TO  ITS  ADDRESS  SPECIFIED  HEREIN,  OR BY ANY  OTHER  MEANS
PERMITTED BY THE LAWS OF THE STATE OF NEW YORK.

                                            Five-Year Revolving Credit Agreement

                                       56

<PAGE>

         10.23  Waiver of Right to Trial by Jury.  EACH PARTY TO THIS  AGREEMENT
HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND,  ACTION
OR CAUSE OF ACTION  ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH
OR RELATED OR  INCIDENTAL  TO THE DEALINGS OF THE PARTIES  HERETO OR ANY OF THEM
WITH RESPECT TO ANY LOAN DOCUMENT,  OR THE TRANSACTIONS RELATED THERETO, IN EACH
CASE WHETHER NOW EXISTING OR HEREAFTER ARISING,  AND WHETHER FOUNDED IN CONTRACT
OR TORT OR  OTHERWISE;  AND EACH PARTY HEREBY  AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT
A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR
A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN  EVIDENCE OF THE CONSENT OF THE
SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

                     [REMAINDER OF PAGE INTENTIONALLY BLANK.
                            SIGNATURE PAGE FOLLOWS.]

                                            Five-Year Revolving Credit Agreement

                                       57
<PAGE>

         Signature Page to that certain  Five-Year  Revolving  Credit  Agreement
dated as of the date first set forth above, among Comcast Cable  Communications,
Inc., as Borrower,  each Lender,  and Bank of America,  N.A., as  Administrative
Agent, Swing Line Lender, and an Issuing Lender.

                             COMCAST CABLE COMMUNICATIONS, INC.,
                             as Borrower

                             By: /s/ Kenneth Mikalauskas
                                 -----------------------------------------------
                                 Kenneth Mikalauskas, Vice President/Assistant
                                 Treasurer

                         SIGNATURE PAGE FOR FIVE-YEAR REVOLVING CREDIT AGREEMENT

<PAGE>

         Signature Page to that certain  Five-Year  Revolving  Credit  Agreement
dated as of the date first set forth above, among Comcast Cable  Communications,
Inc., as Borrower,  each Lender,  and Bank of America,  N.A., as  Administrative
Agent, Swing Line Lender, and an Issuing Lender.

                             BANK OF AMERICA, N.A., as Administrative Agent, a
                             Swing Line Lender and an Issuing Lender,
                             and as a Lender

                             By:
                                 -----------------------------------------------
                                 Todd Shipley, Managing Director

                         SIGNATURE PAGE FOR FIVE-YEAR REVOLVING CREDIT AGREEMENT

<PAGE>

         Signature Page to that certain  Five-Year  Revolving  Credit  Agreement
dated as of the date first set forth above, among Comcast Cable  Communications,
Inc., as Borrower,  each Lender,  and Bank of America,  N.A., as  Administrative
Agent, Swing Line Lender, and an Issuing Lender.

                             Name of Lender:

                             By:
                                      ------------------------------------------
                             Name:
                                      ------------------------------------------
                             Title:
                                      ------------------------------------------

                         SIGNATURE PAGE FOR FIVE-YEAR REVOLVING CREDIT AGREEMENT

<PAGE>

         Signature Page to that certain  Five-Year  Revolving  Credit  Agreement
dated as of the date first set forth above, among Comcast Cable  Communications,
Inc., as Borrower,  each Lender,  and Bank of America,  N.A., as  Administrative
Agent, Swing Line Lender, and an Issuing Lender.

                             Name of Lender:

                             By:
                                      ------------------------------------------
                             Name:
                                      ------------------------------------------
                             Title:
                                      ------------------------------------------

                             By:
                                      ------------------------------------------
                             Name:
                                      ------------------------------------------
                             Title:
                                      ------------------------------------------

                         SIGNATURE PAGE FOR FIVE-YEAR REVOLVING CREDIT AGREEMENT

<PAGE>

                                    EXHIBIT A

                     FORM OF REQUEST FOR EXTENSION OF CREDIT

                                                     Date: ______________, 200__

To: Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

         Reference is made to that certain Five-Year  Revolving Credit Agreement
dated as of August  24,  2000,  among  Comcast  Cable  Communications,  Inc.,  a
Delaware corporation ("Borrower"),  Lenders from time to time party thereto, and
Bank of America,  N.A., as Administrative  Agent,  Swing Line Lender and Issuing
Lender (as amended,  restated,  extended,  supplemented or otherwise modified in
writing from time to time, the "Agreement;" the terms defined therein being used
herein as therein defined).

         The undersigned Responsible Officer hereby requests (select one):

         [__]  A Borrowing of Loans      [__]  A Conversion or Continuation
                                               of Loans

         1. On ___________________________ (a Business Day).

         2. In the amount of $___________________________.

         3. Comprised of ______________________________________.
                              [type of Loan requested]

         4. For Eurodollar Rate Loans:  with an Interest Period of ___ months.

         The foregoing  request  complies with the requirements of Sections 2.01
and 2.02 of the Agreement.  If the requested  Extension of Credit is a Borrowing
of Loans, the undersigned hereby certifies that the following statements will be
true on the date of the requested Extension of Credit:

                  (a) The  representations  and warranties of Borrower contained
         in Sections  5.01,  5.02 and 5.03 of the  Agreement  are correct in all
         material respects; and

                  (b) no Default or Event of Default  exists or will result from
         the requested Extension of Credit.

                                COMCAST CABLE COMMUNICATIONS, INC.

                                By:
                                     ------------------------------------------
                                Name:
                                       ----------------------------------------
                                Title:
                                        ---------------------------------------

                           Exhibit A to the Five-Year Revolving Credit Agreement

                                        1

<PAGE>

                                    EXHIBIT B

                         FORM OF COMPLIANCE CERTIFICATE

                                   Financial Statement Date: _____________, 200_

To:      Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

Reference is made to that certain Five-Year  Revolving Credit Agreement dated as
of August  24,  2000,  among  Comcast  Cable  Communications,  Inc.,  a Delaware
corporation  ("Borrower"),  Lenders from time to time party thereto, and Bank of
America, N.A., as Administrative Agent, Swing Line Lender and Issuing Lender (as
amended, restated, extended,  supplemented or otherwise modified in writing from
time to time, the  "Agreement;"  the terms defined  therein being used herein as
therein defined).

         The  undersigned  Responsible  Officer hereby  certifies as of the date
hereof  that he is the of  Borrower,  and that,  as such,  he is  authorized  to
execute and deliver this  Certificate to  Administrative  Agent on the behalf of
Borrower, and that:

            [Use following for fiscal year-end financial statements]

         1.  Attached  hereto  as  Annex 1 are the  year-end  audited  financial
statements  required by Section  6.01(a) of the Agreement for the fiscal year of
Borrower  ended as of the above  date,  together  with the report and opinion of
independent certified public accountants required by such section.

           [Use following for fiscal quarter-end financial statements]

         1. Attached  hereto as Annex 1 are the unaudited  financial  statements
required by Section  6.01(b) of the Agreement for the fiscal quarter of Borrower
ended as of the  above  date.  Such  financial  statements  fairly  present  the
financial condition,  results of operations and changes in financial position of
Borrower and its  Subsidiaries  in accordance  with GAAP as at such date and for
such periods,  subject only to pro forma  adjustments  and normal year-end audit
adjustments and the absence of footnotes.

         2. The  undersigned  has reviewed and is familiar with the terms of the
Agreement  and has made,  or has  caused to be made  under  his  supervision,  a
detailed review of the transactions  and conditions  (financial or otherwise) of
Borrower  during  the  accounting  period  covered  by  the  attached  financial
statements.

         3. A review of the activities of Borrower during such fiscal period has
been made under my supervision  with a view to  determining  whether during such
fiscal period  Borrower  performed and observed its  Obligations  under the Loan
Documents, and

                                  [select one:]

         [to the best  knowledge of the  undersigned  during such fiscal period,
Borrower  performed  and  observed  each  covenant  and  condition  of the  Loan
Documents applicable to it.]

                           Exhibit B to the Five-Year Revolving Credit Agreement

                                        1

<PAGE>

                                     --or--

         [the  following  covenants  or  conditions  have not been  performed or
observed  and the  following  is a list of each such Default or Event of Default
and its nature and status:]

         4. The financial covenant analyses and information set forth on Annex 2
attached  hereto are true and accurate.  Such analyses and information set forth
the  necessary  adjustments  to exclude the  Indebtedness,  EBITDA and  Interest
Expense  attributed to Unrestricted  Subsidiaries  and give pro forma effect (in
accordance  with Section 1.07 of the  Agreement)  to Material  Acquisitions  and
Material Dispositions made during the period covered thereby.

         IN WITNESS WHEREOF, the undersigned has executed this Certificate as of
, 200_.

                                COMCAST CABLE COMMUNICATIONS, INC.

                                By:
                                     -------------------------------------------
                                Name:
                                       -----------------------------------------
                                Title:
                                        ----------------------------------------

                           Exhibit B to the Five-Year Revolving Credit Agreement

                                        2

<PAGE>

                                     ANNEX 1

                              FINANCIAL STATEMENTS

                           Exhibit B to the Five-Year Revolving Credit Agreement

                                        1

<PAGE>

     For the Quarter/Year ended ___________________, 200_ ("Statement Date")
<TABLE>
<CAPTION>
<S>             <C>                                                                                  <C>
                                     ANNEX 2
                          to the Compliance Certificate
                                  ($ in 000's)

I.       Section 7.07(a) - Interest Coverage Ratio.

         A.       Consolidated EBITDA for two consecutive fiscal quarters ending
                  on Statement Date ("Subject Two Quarters"):

                  1.       Consolidated net income for Subject Two Quarters
                           (excluding gains and losses from unusual or extraordinary
                           items and interest income):                                                $____________

                  2.       Consolidated Interest Expense for Subject Two Quarters:                    $____________

                  3.       Provision for income or gross receipts taxes for Subject
                           Two Quarters:                                                              $____________

                  4.       Depreciation expense for Subject Two Quarters:                             $____________

                  5.       Amortization expense for Subject Two Quarters:                             $____________

                  6.       Other non-cash charges to income for Subject Two Quarters:                 $____________

                  7.       Management and programming fees paid to Comcast Corporation
                           or any of its wholly-owned Subsidiaries other than Borrower or
                           a Restricted Subsidiary during Subject Two Quarters:                       $____________

                  8.       Cash payments made in Subject Two Quarters in respect of
                           non-cash charges accrued during a prior period:                            $____________

                  9.       Consolidated EBITDA for Subject Two Quarters
                           (Lines I.A.1 + 2 + 3 + 4 + 5 + 6 + 7 - 8):                                 $____________

         B.       EBITDA of Unrestricted Subsidiaries for Subject Two Quarters:

                  1.       Net income of Unrestricted Subsidiaries for Subject Two
                           Quarters (excluding gains and losses from unusual or
                           extraordinary items and interest income):                                  $____________

                  2.       Interest Expense of Unrestricted Subsidiaries for Subject
                           Two Quarters:                                                              $____________

                  3.       Provision for income or gross receipts taxes of Unrestricted
                           Subsidiaries for Subject Two Quarters:                                     $____________

                                                              Exhibit B to the Five-Year Revolving Credit Agreement

                                                         2

<PAGE>

                  4.       Depreciation expense of Unrestricted Subsidiaries for
                           Subject Two Quarters:                                                      $____________

                  5.       Amortization expense of Unrestricted Subsidiaries for
                           Subject Two Quarters:                                                      $____________

                  6.       Other non-cash charges to income of Unrestricted Subsidiaries
                           for Subject Two Quarters:                                                  $____________

                  7.       Management and programming fees paid by Unrestricted
                           Subsidiaries to Comcast Corporation or any of its wholly-
                           owned Subsidiaries other than Borrower or a Restricted
                           Subsidiary during Subject Two Quarters:                                    $____________

                  8.       Cash payments made by Unrestricted Subsidiaries in Subject
                           Two Quarters in respect of non-cash charges accrued during
                           a prior period:                                                            $____________

                  9.       EBITDA of Unrestricted Subsidiaries for Subject Two Quarters
                           (Lines I.B.1 + 2 + 3 + 4 + 5 + 6 + 7 - 8):                                 $____________

         C.       EBITDA of Borrower and Restricted Subsidiaries for Subject Two
                  Quarters  ((Line I.A.9) - (Line I.B.9)):                                            $____________

         D.       Annualized EBITDA of Borrower and Restricted Subsidiaries
                  (Line I.C times two (2)): $____________

         E.       Consolidated Interest Expense for Subject Two Quarters:                             $____________

         F.       Interest Expense of Unrestricted Subsidiaries for Subject Two Quarters:             $____________

         G.       Interest Expense of Borrower and Restricted Subsidiaries for Subject
                  Two Quarters ((Line I.E) - (Line I.F)):                                             $____________

         H.       Annualized Interest Expense of Borrower and Restricted Subsidiaries
                  (Line I.G times two (2)): $____________

         I.       Interest Coverage Ratio ((Line I.D) / (Line I.H)):                                           to 1
                                                                                            -------------------

                  Minimum required:                                                                       2.50 to 1

II.      Section 7.15(b) - Leverage Ratio.

         A.       Consolidated Indebtedness at Statement Date:                                        $____________

         B.       Indebtedness of Unrestricted Subsidiaries at Statement Date:                        $____________

                                                              Exhibit B to the Five-Year Revolving Credit Agreement

                                                         3

<PAGE>

         C.       Consolidated Total Indebtedness at Statement Date:
                  (Line II.A) - (Line II.B)                                                           $____________

         D.       Annualized EBITDA of Borrower and Restricted Subsidiaries
                  (Line I.D):                                                                         $____________

         E.       Leverage Ratio ((Line II.C) / (Line II.D)):                                         ________ to 1

                  Maximum permitted:                                                                      5.50 to 1

                                                              Exhibit B to the Five-Year Revolving Credit Agreement

                                                         4
</TABLE>

<PAGE>

                                    EXHIBIT C

                          FORM OF SYNDICATED LOAN NOTE

                                               ___________________________, 200_

         FOR VALUE RECEIVED,  the undersigned  ("Borrower"),  hereby promises to
pay to the  order  of  ("Lender"),  on the  Maturity  Date  (as  defined  in the
Agreement referred to below) the unpaid principal amount of Loans (as defined in
the Agreement  referred to below) made by Lender to Borrower  under that certain
Five-Year  Revolving  Credit  Agreement  dated  as of  August  24,  2000,  among
Borrower, Lenders from time to time party thereto, and Bank of America, N.A., as
Administrative  Agent,  Swing  Line  Lender  and  Issuing  Lender  (as  amended,
restated,  extended,  supplemented or otherwise modified in writing from time to
time, the  "Agreement;"  the terms defined  therein being used herein as therein
defined).

         Borrower  promises to pay  interest on the unpaid  principal  amount of
each Loan  from the date of such Loan  until  such  principal  amount is paid in
full,  at  such  interest  rates  and at  such  times  as are  specified  in the
Agreement.   All   payments  of  principal   and  interest   shall  be  made  to
Administrative Agent at Administrative  Agent's Office for the account of Lender
in  immediately  available  funds.  If any  amount  is not paid in full when due
hereunder,  such unpaid amount shall bear interest, to be paid upon demand, from
the due date  thereof  until the date of actual  payment  (and before as well as
after judgment) at the per annum rate set forth in the Agreement.

         This Note is one of the "Notes" referred to in the Agreement. Reference
is hereby  made to the  Agreement  for rights  and  obligations  of payment  and
prepayment,  events of default and the right of Administrative  Agent, on behalf
of Lender, to accelerate the maturity hereof upon the occurrence of such events.
Loans made by Lender shall be evidenced by one or more loan  accounts or records
maintained by Lender in the ordinary course of business.  Lender may also attach
schedules to this Note and endorse thereon the date,  amount and maturity of its
Loans and payments with respect thereto.

         Borrower,  for  itself,  its  successors  and  assigns,  hereby  waives
diligence,  presentment,  protest  and  demand and  notice of  protest,  demand,
dishonor and non-payment of this Note.

         Borrower  agrees  to pay  all  collection  expenses,  court  costs  and
Attorney Costs (whether or not litigation is commenced) which may be incurred by
Administrative  Agent or Lender in connection with the collection or enforcement
of this Note.

         THIS NOTE SHALL BE GOVERNED BY AND  CONSTRUED  IN  ACCORDANCE  WITH THE
LAWS OF THE STATE OF NEW YORK.

                                COMCAST CABLE COMMUNICATIONS,
                                INC.

                                By:
                                     -------------------------------------------
                                Name:
                                       -----------------------------------------
                                Title:
                                        ----------------------------------------

                           Exhibit C to the Five-Year Revolving Credit Agreement

                                        1

<PAGE>

<TABLE>
<CAPTION>

                                      LOANS AND PAYMENTS WITH RESPECT THERETO

                                                                           Amount of
                                                                           Principal        Outstanding
                                                           End of         or Interest        Principal
                       Type of          Amount of         Interest         Paid This          Balance          Notation
      Date            Loan Made        Loan Made           Period             Date           This Date          Made By
---------------------------------------------------------------------------------------------------------------------------
<S>              <C>               <C>               <C>               <C>                <C>               <C>

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

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

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

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

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

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

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

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

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

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

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

                                                              Exhibit C to the Five-Year Revolving Credit Agreement

                                                         2
</TABLE>

<PAGE>

                                    EXHIBIT D

                        FORM OF ASSIGNMENT AND ACCEPTANCE

                                                        _________________, 200_

         Reference is made to that certain Five-Year  Revolving Credit Agreement
dated as of August  24,  2000,  among  Comcast  Cable  Communications,  Inc.,  a
Delaware corporation ("Borrower"),  Lenders from time to time party thereto, and
Bank of America,  N.A., as Administrative  Agent,  Swing Line Lender and Issuing
Lender (as amended,  restated,  extended,  supplemented or otherwise modified in
writing from time to time, the "Agreement;" the terms defined therein being used
herein as therein defined). The assignor identified on the signature page hereto
("Assignor")   and  the  assignee   identified  on  the  signature  page  hereto
("Assignee") agree as follows:

         1. (a) Subject to  Paragraph  11,  effective  as of the date written on
Annex 1 hereto (the "Effective Date"), Assignor irrevocably sells and assigns to
Assignee without recourse to Assignor, and Assignee hereby irrevocably purchases
and assumes from Assignor without recourse to Assignor,  the interest  described
on Annex 1 hereto (the  "Assigned  Interest")  in and to  Assignor's  rights and
obligations under the Agreement.

         (b) From and after the Effective  Date,  (i) Assignee  shall be a party
under the Agreement and will have all the rights and obligations of a Lender for
all purposes under the Loan Documents to the extent of the Assigned Interest and
be bound by the  provisions  thereof,  and (ii) Assignor  shall  relinquish  its
rights and be released from its obligations under the Agreement to the extent of
the  Assigned  Interest.  Assignor  and/or  Assignee,  as agreed by Assignor and
Assignee,  shall deliver to Administrative  Agent any applicable  assignment fee
required under Section 10.04(c) of the Agreement.

         2.  On  the  Effective  Date,  Assignee  shall  pay  to  Assignor,   in
immediately  available  funds,  an  amount  equal to the  purchase  price of the
Assigned Interest as agreed upon by Assignor and Assignee.

         3.  Assignor  and  Assignee  agree  that  all  payments  of  principal,
interest,  fees and other amounts in respect of the Assigned  Interest  accruing
from and after the Effective Date shall be for the account of Assignee,  and all
payments of such amounts in respect of the Assigned  Interest  accruing prior to
the  Effective  Date shall  remain for the  account of  Assignor.  Assignor  and
Assignee  hereby agree that if either receives any payment of such amounts which
is for the account of the other,  it shall hold the same in trust for such party
and shall promptly pay the same to such party.

         4. Assignor represents and warrants to Assignee that:

                  (a) Assignor is the legal and beneficial owner of the Assigned
         Interest,  and the  Assigned  Interest is free and clear of any adverse
         claim;

                  (b) The Assigned  Interest  listed on Annex 1  accurately  and
         completely  sets  forth  the  amount  of  all  Outstanding  Obligations
         relating to the Assigned Interest as of the Effective Date;

                  (c) It has the power  and  authority  and the  legal  right to
         make,  deliver and  perform,  and has taken all  necessary  action,  to
         authorize the execution,  delivery and  performance of this  Assignment
         and  Acceptance,  and any and all other  documents  delivered  by it in
         connection herewith

                           Exhibit D to the Five-Year Revolving Credit Agreement

                                        1

<PAGE>

         and  to  fulfill  its   obligations   under,   and  to  consummate  the
         transactions  contemplated  by, this  Assignment and Acceptance and the
         Loan  Documents,  and no consent or  authorization  of, filing with, or
         other act by or in respect of any Governmental  Authority,  is required
         in connection in connection herewith or therewith; and

                  (d) This  Assignment  and  Acceptance  constitutes  the legal,
         valid and binding obligation of Assignor.

         Assignor   makes  no   representation   or  warranty   and  assumes  no
responsibility  with  respect to the  financial  condition  of  Borrower  or the
performance by Borrower of its obligations under the Loan Documents, and assumes
no responsibility with respect to any statements,  warranties or representations
made under or in connection  with any Loan Document or the execution,  legality,
validity, enforceability, genuineness, sufficiency or value of any Loan Document
other than as expressly set forth above.

         5.  Assignee  represents  and warrants to Assignor  and  Administrative
Agent that:

                  (a) It is eligible to purchase the Assigned  Interest pursuant
         to Section 10.04 of the Agreement;

                  (b) It has the power  and  authority  and the  legal  right to
         make,  deliver and  perform,  and has taken all  necessary  action,  to
         authorize the execution,  delivery and  performance of this  Assignment
         and  Acceptance,  and any and all other  documents  delivered  by it in
         connection  herewith  and to  fulfill  its  obligations  under,  and to
         consummate  the  transactions  contemplated  by,  this  Assignment  and
         Acceptance and the Loan Documents,  and no consent or authorization of,
         filing  with,  or  other  act  by or in  respect  of  any  Governmental
         Authority,   is  required  in  connection  in  connection  herewith  or
         therewith;

                  (c) This  Assignment  and  Acceptance  constitutes  the legal,
         valid and binding obligation of Assignee;

                  (d)  Under  applicable  Laws  no tax  will be  required  to be
         withheld  by  Administrative  Agent or  Borrower  with  respect  to any
         payments to be made to Assignee  hereunder or under any Loan  Document,
         and prior to or  concurrently  with  Administrative  Agent's receipt of
         this   Assignment   and   Acceptance,   Assignee   has   delivered   to
         Administrative  Agent any tax forms  required  by Section  10.20 of the
         Agreement; and

                  (e) Assignee has  received a copy of the  Agreement,  together
         with copies of the most recent financial  statements delivered pursuant
         thereto,  and such other  documents  and  information  as it has deemed
         appropriate to make its own credit  analysis and decision to enter into
         this Assignment and Acceptance.  Assignee has independently and without
         reliance  upon  Assignor  or  Administrative  Agent  and  based on such
         information  as Assignee  has deemed  appropriate,  made its own credit
         analysis  and  decision to enter into this  Agreement.  Assignee  will,
         independently  and without  reliance upon  Administrative  Agent or any
         Lender,  and based upon such documents and information as it shall deem
         appropriate at the time,  continue to make its own credit  decisions in
         taking or not taking action under the Agreement.

         6. Assignee appoints and authorizes  Administrative  Agent to take such
action as agent on its behalf and to exercise such powers and  discretion  under
the  Agreement,  the other Loan  Documents or any

                           Exhibit D to the Five-Year Revolving Credit Agreement

                                        2

<PAGE>

other  instrument  or  document  furnished  pursuant  hereto or  thereto  as are
delegated  to  Administrative  Agent by the terms  thereof,  together  with such
powers as are incidental thereto.

         7. If either Assignee or Assignor desires a Note to evidence its Loans,
it shall request Administrative Agent to procure a Note from Borrower.

         8.  Assignor  and  Assignee  agree to execute  and  deliver  such other
instruments,  and take such other action, as either party may reasonably request
in  connection  with  the  transactions  contemplated  by  this  Assignment  and
Acceptance.

         9. This  Assignment and  Acceptance  shall be binding upon and inure to
the benefit of the parties and their respective successors and assigns; provided
however,  that  Assignee  shall not assign its rights or  obligations  hereunder
without the prior  written  consent of Assignor  and any  purported  assignment,
absent such consent, shall be void.

         10.  This  Assignment  and  Acceptance  may be  executed  by  facsimile
signatures  with the same  force and  effect as if  manually  signed  and may be
executed in one or more counterparts, each of which shall be deemed an original,
but all of which together shall  constitute  one and the same  instrument.  This
Assignment and Acceptance  shall be governed by and construed in accordance with
the laws of the state specified in the Agreement.

         11. The effectiveness of the assignment described herein is subject to:

                  (a) If such consent is required by the Agreement, Assignor and
         Assignee obtaining the consent of Administrative Agent, Issuing Lender,
         Swing Line Lender and Borrower to the assignment  described  herein. By
         delivering a copy of this  Assignment and Acceptance to  Administrative
         Agent,  Assignor and Assignee hereby request any such required  consent
         and request that  Administrative  Agent  register  Assignee as a Lender
         under the Agreement effective as of the Effective Date.

                  (b) Receipt by Administrative  Agent of (or other arrangements
         acceptable  to  Administrative  Agent with  respect to) any  applicable
         assignment fee referred to in Section 10.04(c) of the Agreement and any
         tax forms required by Section 10.20 of the Agreement.

         By signing below, Administrative Agent agrees to register Assignee as a
Lender under the  Agreement,  effective as of the Effective Date with respect to
the Assigned  Interest and will adjust the registered Pro Rata Share of Assignor
under the Agreement to reflect the assignment of the Assigned Interest.

         12.  Attached  hereto as Annex 2 is all contact,  address,  account and
other administrative information relating to Assignee.

                           Exhibit D to the Five-Year Revolving Credit Agreement

                                        3

<PAGE>

         IN WITNESS WHEREOF,  the parties hereto have caused this Assignment and
Acceptance to be executed as of the date first above written by their respective
duly authorized officers.

                                Assignor:

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

                                By:
                                     ------------------------------------------
                                Name:
                                       ----------------------------------------
                                Title:
                                        ---------------------------------------

                                Assignee:

[__]  Tax forms required by     -----------------------------------------------
      Section 10.20 of the
      Agreement included
                                By:
                                     ------------------------------------------
                                Name:
                                       ----------------------------------------
                                Title:
                                        ---------------------------------------

(Signatures continue)

                           Exhibit D to the Five-Year Revolving Credit Agreement

                                        4

<PAGE>

In  accordance  with and subject to Section 10.04 of the Credit  Agreement,  the
undersigned consent to the foregoing assignment as of the Effective Date:

COMCAST CABLE COMMUNICATIONS, INC.

By:
     ------------------------------------------------
Name:
       -------------------------------------
Title:
        ---------------------------------------------

BANK OF AMERICA, N.A.,
as Administrative Agent, Swing Line Lender and an Issuing Lender

By:
     ------------------------------------------------
Name:
       -------------------------------------
Title:
        ---------------------------------------------

[OTHER ISSUING LENDER,
as an Issuing Lender

By:
     ------------------------------------------------
Name:
       -------------------------------------
Title:                                               ]
        ---------------------------------------------

                           Exhibit D to the Five-Year Revolving Credit Agreement

                                        5

<PAGE>

                      ANNEX 1 TO ASSIGNMENT AND ACCEPTANCE

                                               THE ASSIGNED INTEREST

Effective Date: ______________________

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                           Amount of Outstanding Obligations
        Assigned Commitment                             assigned                          Assigned Pro Rata Share
----------------------------------- ------------------------------------------------  --------------------------------
$                                   $                                                                                %

</TABLE>

                           Exhibit D to the Five-Year Revolving Credit Agreement

                                        6

<PAGE>

                      ANNEX 2 TO ASSIGNMENT AND ACCEPTANCE

                             ADMINISTRATIVE DETAILS

        (Assignee to list names of credit contacts, addresses, phone and
                facsimile numbers, electronic mail addresses and
                        account and payment information)

                           Exhibit D to the Five-Year Revolving Credit Agreement

                                        7

<PAGE>

                                    EXHIBIT E

                     FORM OF OPINION OF COUNSEL TO BORROWER

August 24, 2000

To the Lenders party to the Five-Year Revolving Credit Agreement
referred to below, and to Bank of America, N.A., as Administrative
Agent, Swing Line Lender, and Issuing Lender thereunder

We have  acted as  counsel to Comcast  Cable  Communications,  Inc.,  a Delaware
corporation  ("Borrower")  in  connection  with the Five-Year  Revolving  Credit
Agreement (the "Credit  Agreement") dated as of August 24, 2000, among Borrower,
the Lenders party thereto, and Bank of America,  N.A., as Administrative  Agent,
Swing Line Lender,  and Issuing  Lender.  Except as otherwise  provided  herein,
terms defined in the Credit Agreement are used herein as defined  therein.  This
opinion letter is being delivered pursuant to Section  4.01(a)(vi) of the Credit
Agreement.

In rendering  the  opinions  expressed  below,  we have  examined the  following
agreements, instruments and other documents:

         (a)      the Credit Agreement;

         (b)      the Notes payable to Lenders requesting them; and

         (c)      a good standing  certificate  issued by the Secretary of State
                  of the  State of  Delaware  on  August  14,  2000  (the  "Good
                  Standing Certificate"), a certified copy of resolutions of the
                  Board of Directors of the Borrower, dated August 11, 2000 (the
                  "Resolutions"),  a  certified  copy  of  the  by-laws  of  the
                  Borrower (the  "Bylaws"),  a certified copy of the Certificate
                  of  Incorporation  of the Borrower  issued by the Secretary of
                  State  of the  State of  Delaware  on  August  14,  2000  (the
                  "Charter"),  a Certificate  of the Assistant  Secretary of the
                  Borrower,  dated as of the date hereof, with the signatures of
                  the  authorized  officers  of the  Borrower  (the  "Incumbency
                  Certificate")  and such records of the Borrower and such other
                  documents  as we have  deemed  necessary  as a  basis  for the
                  opinions expressed below.

The agreements and instruments referred to in the foregoing lettered clauses (a)
and (b) are collectively referred to as the "Loan Documents."

In our  examination,  we have assumed the  genuineness of all signatures  (other
than those of Borrower),  the  authenticity of all documents  submitted to us as
originals and the conformity with authentic  original documents of all documents
submitted  to  us  as  copies.   When  relevant  facts  were  not  independently
established,  we have relied upon statements of governmental  officials and upon
representations  made in or pursuant to the Loan Documents and  certificates  of
appropriate representatives of Borrower.

Based  upon and  subject  to the  foregoing  and  subject  to the  comments  and
qualifications  hereto,  and having  considered such questions of law as we have
deemed  necessary as a basis for the  opinions  expressed  below,  we are of the
opinion that:

                           Exhibit E to the Five-Year Revolving Credit Agreement

<PAGE>

                  1. Borrower is a corporation duly organized,  validly existing
         and in good standing under the laws of the State of Delaware.  Borrower
         has all  requisite  corporate  power  and  authority  to  carry  on its
         business as now conducted as described in its most recent Annual Report
         on Form 10-K filed with the  Securities  and Exchange  Commission  (the
         "10-K").

                  2.  Borrower  has all  requisite  corporate  power to execute,
         deliver, and perform its obligations under the Loan Documents.

                  3. The execution, delivery, and performance by Borrower of the
         Loan  Documents  have been duly  authorized by all necessary  corporate
         action on the part of Borrower.

                  4. Each Loan  Document has been duly executed and delivered by
         Borrower.

                  5. The Loan Documents  constitute the legal, valid and binding
         obligations  of Borrower,  enforceable  against  Borrower in accordance
         with their  respective  terms,  except as may be limited by bankruptcy,
         insolvency, reorganization,  fraudulent conveyance, moratorium or other
         similar laws relating to or affecting the rights of creditors generally
         and except as the  enforceability  of the Loan  Documents is subject to
         the application of general  principles of equity (regardless of whether
         considered  in a proceeding  in equity or at law),  including,  without
         limitation,  (a) the possible  unavailability of specific  performance,
         injunctive  relief or any other  equitable  remedy and (b)  concepts of
         materiality, reasonableness, good faith and fair dealing.

                  6. The execution,  delivery and performance by Borrower of the
         Loan  Documents (a) will not violate any  applicable Law or the Charter
         or  Bylaws  of  Borrower  or,  to  our  knowledge,  any  order  of  any
         Governmental  Authority,  (b) to our  knowledge,  will not  result in a
         default  under any material  indenture,  agreement or other  instrument
         binding upon Borrower or its assets, and (c) to our knowledge, will not
         result  in the  creation  or  imposition  of any  Lien on any  asset of
         Borrower.

                  7. We have no knowledge of any litigation,  investigation,  or
         proceeding  of or before an arbitrator  or  Governmental  Authority now
         pending  against or  threatened  against  Borrower  that, if determined
         adversely, has a Material Adverse Effect.

                  8. Borrower is not an  "investment  company" as defined in, or
         subject to registration under, the Investment Company Act of 1940.

                  9.  Borrower  is not a  "holding  company,"  or a  "subsidiary
         company"  of a  "holding  company"  or  an  "affiliate"  of a  "holding
         company" or of a "subsidiary  company" of a "holding  company,"  within
         the meaning of the Public Utility Act of 1935.

Our opinions  expressed above are limited to matters  involving the Federal Laws
of the United States of America,  the laws of the  Commonwealth of Pennsylvania,
the  laws of the  State  of New  York  and the  corporate  laws of the  State of
Delaware subject to the following.

         To the  extent  that this  opinion is based on the laws of the State of
         New York, we have,  with your  permission,  relied  exclusively  on the
         opinion of Howe & Addington  LLP, a copy of which is  attached  hereto,
         and  any  opinion  herein  based  on New  York  law is  subject  to the
         qualifications and limitations set forth in such opinion.  Further,  we
         express  no  opinion  concerning  (1) the  effects of any local law and
         regulation,  or  (2)  federal  or  state  laws,  rules

                           Exhibit E to the Five-Year Revolving Credit Agreement

                                        2

<PAGE>

         or regulations  governing securities or "blue sky", antitrust or unfair
         competition,  compliance with fiduciary duty,  environmental liability,
         or any  regulated  aspect  of the  communications  business,  including
         without limitation, the Federal Communications Act.

When any opinion is subject to the  qualification "to our knowledge" or words of
similar  import,  it means that no one in the Primary  Lawyer  Group (as defined
below) has actual knowledge of facts which are contrary to the opinion rendered,
without having undertaken independent  investigation or verification of any such
facts.  The  words  "actual  knowledge"  mean the  conscious  attention  to such
information  by the Primary  Lawyer  Group.  The phrase  "Primary  Lawyer Group"
includes only  attorneys  who are currently  members of or employed by this firm
who have been  involved  in the  preparation  of this  letter or involved in the
representation  of the Borrower in connection with the  transaction  that is the
subject of this letter.

The opinions  set forth above are subject to the  following  qualifications  and
limitations:

         (A) We have assumed the legal capacity of all individuals executing any
of the Loan Documents.

         (B) We express no opinion as to the enforceability of any provisions in
any  Loan  Document  imposing  penalties,  forfeitures,  late  payment  charges,
prepayment  premiums,  or an increase in interest rate upon the  occurrence of a
default  or an  event of  default  to the  extent  the  same  are  deemed  to be
unenforceable penalties.

         (C) We express no opinion as to the  enforceability of any provision of
any Loan Document which is intended to permit modification thereof only by means
of any agreement in writing by the parties thereto;

         (D) We  express  no  opinion  as to the  enforceability  of  provisions
contained in any Loan  Document  which  purport to constitute or provide for the
waiver and release of any rights, claims, defenses, counterclaims or remedies of
the  Borrower  to the  extent  such  waiver or  release  may not be given  under
applicable law.

         (E) We  express  no  opinion  concerning  the  financial  condition  or
solvency of the Borrower, nor do we express any opinion concerning the effect of
any action,  suit,  proceeding,  litigation or transaction  (including,  without
limitation,  the transactions  contemplated in the Credit Agreement) upon either
(1) the financial condition of the Borrower or (2) any financial covenants which
the Borrower may have agreed to in the Loan Documents.

         (F) We express no opinion as to the  enforceability of any provision of
any Loan  Document to the extent  that such  provision  constitutes  a waiver of
illegality as a defense to performance of contract obligations.

         (G) The opinion set forth in the first sentence of paragraph 1 above is
based on our review of the Good Standing Certificate.  The opinions set forth in
paragraphs  2 and 3 above  are  based  on our  review  of the  Charter,  Bylaws,
Resolutions and applicable law. The opinion set forth in paragraph 4 is based on
our review of the  Charter,  Bylaws,  Resolutions,  Incumbency  Certificate  and
applicable  law. The  opinions set forth in  paragraphs 7 and 9 are based on our
review of the 10-K and  applicable  law. The opinion set forth in paragraph 8 is
based on our review of the 10-K, Comcast Corporation's most recent Annual Report
on Form 10-K filed with the  Securities  and Exchange  Commission and applicable
law.

                           Exhibit E to the Five-Year Revolving Credit Agreement

                                        3

<PAGE>

         (H) No  opinion is  expressed  as to the  enforceability  of any of the
following  kinds  of  provisions  in the  Loan  Documents:  (1)  provisions  for
self-help except as permitted by applicable law; (2) provisions which purport to
establish  evidentiary  standards;  (3) provisions relating to the non-waiver of
your rights; (4) provisions containing powers of attorney;  (5) provisions which
would  provide  for  interest  in excess of the  "legal  rate"  permitted  under
applicable  law;  and (6)  provisions  which  purport to create  obligations  to
indemnify you, except as permitted by applicable law.

The  foregoing   opinions  are  being  furnished   solely  for  the  benefit  of
Administrative  Agent, Lenders and any participants or assignees as specified in
Section 10.04 of the Credit  Agreement,  and may not be relied upon by any other
Person or for any other purpose without our written consent.

Very truly yours,

                           Exhibit E to the Five-Year Revolving Credit Agreement

                                        4

<PAGE>

STEVEN B. CALLAHAN                                           EDWIN A. HOWE, JR.
BRUCE E. HOOD                                                    SENIOR COUNSEL
ANNE L. STRASSNER                                     TELEPHONE: (212) 490-1700
ROBERT W. BENJAMIN                                          FAX: (212) 490-0536
ANDREW J. PAL                                                    (212) 490-2574
R. SCOTT GREATHEAD                                      E-MAIL: LAW@HOWEADD.COM
------------------                                    WEB SITE: WWW.HOWEADD.COM
CINDY G. FINE
R. ANDREW SHORE
STEPHANIE E. BUSLOFF

August 24, 2000

Drinker Biddle & Reath LLP
One Logan Square
18th and Cherry Streets
Philadelphia, Pennsylvania  19103

Re:  5-Year Revolving Credit Agreement, dated as of August 24, 2000 (the "Credit
     Agreement"),   among  Comcast  Cable   Communications,   Inc.,  a  Delaware
     corporation  (the  "Borrower"),  the  Lenders  party  thereto  and  Bank of
     America, N. A., as Administrative Agent

Dear Ladies and Gentlemen:

We have  acted as  special  New York  counsel  to you in support of your role as
special counsel to the Borrower in connection with the execution and delivery of
the Credit Agreement. Unless otherwise indicated, capitalized terms used but not
defined  herein  shall  have the  respective  meanings  set forth in the  Credit
Agreement.

In connection with this opinion,  we have examined the Credit  Agreement and the
Notes (collectively,  the "Loan Documents") in a form that you have confirmed to
us has been  signed  by all  parties  thereto.  We also  have  made  such  other
investigations  as we have deemed  relevant and necessary in connection with the
opinions expressed herein. In addition, we have examined,  and have relied as to
matters of fact upon, the representations made in the Loan Documents.

In rendering the opinion set forth below, we have assumed the genuineness of all
signatures,  the legal  capacity of natural  persons,  the  authenticity  of all
documents submitted to us as originals,  the conformity to original documents of
all documents  submitted to us as  duplicates or certified or conformed  copies,
and the authenticity of the originals of such latter documents.

In rendering  the opinion set forth below,  we have assumed that (1) each of the
Loan Documents is a valid and legally binding  obligation of each of the Lenders
party thereto and Bank of America,  N.A., as Administrative Agent (collectively,
"Addressees")  and (2)(a) the Borrower is validly  existing and in good standing
under the laws of Delaware and has duly  authorized,  executed and delivered the
Loan Documents in accordance with its Certificate of Incorporation,  By-Laws and
applicable  resolutions  of  its  stockholders  and  board  of  directors,   (b)
execution,  delivery and  performance by the Borrower of the Loan Documents does

                           Exhibit E to the Five-Year Revolving Credit Agreement

                                                         5

<PAGE>

not violate the laws of Delaware or any other  applicable  laws  (excepting  the
laws of the State of New York) and (c)  execution,  delivery and  performance by
the Borrower of the Loan Documents does not constitute a breach or violation of,
or result in, or require,  the creation or  imposition  of, any Lien under,  any
contract,  agreement or instrument  which is binding upon the Borrower.  As used
herein,  the term  "Requirement of Law" shall mean, and shall be limited to, the
laws of the State of New York that in our experience are normally  applicable to
general business  corporations  and to transactions of the type  contemplated by
the Loan Documents.

Based upon and subject to the foregoing,  and subject to the  qualifications and
limitations set forth herein, we are of the opinion that:

         1.  The  Loan  Documents   constitute  the  legal,  valid  and  binding
obligations of the Borrower, enforceable against the Borrower in accordance with
their respective terms.

         2. The execution  and delivery by the Borrower of, and the  performance
by the  Borrower  of its  obligations  under,  the Loan  Documents  (a) does not
violate  any  Requirement  of  Law  or,  to  our  knowledge,  any  order  of any
Governmental  Authority of the State of New York and (b) to our knowledge,  will
not result in, or require,  the creation or imposition of any Lien on any of the
Borrower's  properties  or  revenues  pursuant to any such  Requirement  of Law,
except to the extent that all such  violations  and  creation or  imposition  of
Liens could not, in the aggregate, have a Material Adverse Effect.

         3. We have no knowledge of any litigation,  investigation or proceeding
of or before an arbitrator or  Governmental  Authority of or in the State of New
York now pending or threatened  against Borrower that, if determined  adversely,
would have a Material Adverse Effect.

Our  opinion  set forth  above is  subject  to (i) the  effects  of  bankruptcy,
insolvency, fraudulent conveyance, reorganization,  moratorium and other similar
laws  relating  to  or  affecting  creditors'  rights  generally,  (ii)  general
equitable  principles  (whether  considered in a proceeding in equity or at law)
and (iii) an implied covenant of good faith and fair dealing.

         We express no opinion with respect to:

         (1) The  enforceability of any provisions in any Loan Document imposing
penalties,  forfeitures,  late  payment  charges,  prepayment  premiums,  or  an
increase in the interest  rate upon the  occurrence  of a default or an event of
default to the extent the same are deemed to be unenforceable penalties;

         (2) The  enforceability  of any provision of any Loan Document which is
intended  to  permit  modification  thereof  only by means of any  agreement  in
writing by the parties thereto;

         (3) The  enforceability  of  provisions  contained in any Loan Document
which purport to constitute or provide for the waiver and release of any rights,
claims, defenses, counterclaims or remedies of the Borrower;

         (4) The  financial  condition  or solvency of the  Borrower,  nor do we
express  any opinion  concerning  the effect of any  action,  suit,  proceeding,
litigation or  transaction  (including,  without  limitation,  the  transactions
contemplated in the Credit Agreement) upon either (a) the financial condition of
the Borrower or (b) any financial  covenants  which the Borrower may have agreed
to in the Loan Documents;

                           Exhibit E to the Five-Year Revolving Credit Agreement

                                        6

<PAGE>

         (5) The  enforceability  of any  provision of any Loan  Document to the
extent that such  provision  constitutes  a waiver of illegality as a defense to
performance of contract obligations;

         (6) The  enforceability  of any of the following kinds of provisions in
the Loan  Documents:  (a)  provisions  for  self-help  except  as  permitted  by
applicable law; (b) provisions which purport to establish evidentiary standards;
(c)  provisions  relating to the non-waiver of any of  Addressee's  rights;  (d)
provisions containing powers of attorney; (e) provisions which would provide for
interest in excess of the "legal rate" permitted  under  applicable law; and (f)
provisions  which purport to create  obligations  to indemnify  the  Addressees,
except as permitted by applicable law;

         (7) Federal or state laws, rules or regulations  governing  securities,
antitrust or unfair competition,  compliance with fiduciary duty,  environmental
liability or any regulated aspect of the communications business.

Our opinions  expressed  herein are limited to the  Requirements of Law (without
our having made any  investigation  as to any other laws), and we do not express
any opinion herein concerning any other laws.

This opinion  letter is rendered to you in connection  with the  above-described
transaction.  This opinion  letter may not be relied upon by you for any purpose
other than to the extent  necessary  for purposes of  rendering  your opinion of
even date herewith to the Addressees in connection with the Loan Documents,  nor
may this opinion letter be relied upon by any other person,  firm or corporation
without our prior written consent.

The opinions set forth herein are as of the date hereof,  and we hereby disclaim
any  obligation to advise you of any change in any matter set forth herein which
may hereafter arise.

Very truly yours,

Howe & Addington LLP

                           Exhibit E to the Five-Year Revolving Credit Agreement

                                        7

<PAGE>

                                    EXHIBIT F

                             FORM OF SWING LINE NOTE

$100,000,000.00                                                 August 24, 2000

         FOR VALUE RECEIVED,  the undersigned  ("Borrower"),  hereby promises to
pay to the order of Bank of America,  N.A.  ("Swing Line  Lender"),  on the date
when due in accordance with the Agreement referred to below, ONE HUNDRED MILLION
AND NO/100 DOLLARS ($100,000,000.00),  or such lesser unpaid principal amount of
Swing Line Loans (as  defined in the  Agreement  referred to below) from time to
time made by Swing Line Lender to Borrower under that certain  Five-Year  Credit
Agreement dated as of August 24, 2000, among Borrower, Lenders from time to time
party thereto and Bank of America,  N.A., as  Administrative  Agent,  Swing Line
Lender and Issuing  Lender (as  amended,  restated,  extended,  supplemented  or
otherwise  modified in writing  from time to time,  the  "Agreement;"  the terms
defined therein being used herein as therein defined).

         Borrower  promises to pay  interest on the unpaid  principal  amount of
each Swing Line Loan from the date of such Swing Line Loan until such  principal
amount  is paid in  full,  at  such  interest  rates  and at such  times  as are
specified in the Agreement. All payments of principal and interest shall be made
to Swing Line Lender in immediately  available funds at its Lending  Office.  If
any amount is not paid in full when due hereunder, such unpaid amount shall bear
interest,  to be paid upon demand,  from the due date thereof  until the date of
actual payment (and before as well as after  judgment) at the per annum rate set
forth in the Agreement.

         This  Note is the  "Swing  Line  Note"  referred  to in the  Agreement.
Reference is hereby made to the Agreement for rights and  obligations of payment
and  prepayment,  events of default and the right of  Administrative  Agent,  on
behalf  of Swing  Line  Lender,  to  accelerate  the  maturity  hereof  upon the
occurrence  of such events.  Swing Line Loans made by Swing Line Lender shall be
evidenced  by one or more loan  accounts  or  records  maintained  by Swing Line
Lender in the  ordinary  course of  business.  Swing Line Lender may also attach
schedules to this Note and endorse thereon the date,  amount and maturity of the
Swing Line Loans and payments with respect thereto.

         Borrower,  for  itself,  its  successors  and  assigns,  hereby  waives
diligence,  presentment,  protest  and  demand and  notice of  protest,  demand,
dishonor and non-payment of this Note.

         Borrower  agrees  to pay  all  collection  expenses,  court  costs  and
Attorney Costs (whether or not litigation is commenced) which may be incurred by
Administrative  Agent or Lender in connection with the collection or enforcement
of this Note.

         THIS NOTE SHALL BE GOVERNED BY AND  CONSTRUED  IN  ACCORDANCE  WITH THE
LAWS OF THE STATE OF NEW YORK.

                                      COMCAST CABLE COMMUNICATIONS, INC.

                                      By:
                                           -------------------------------------
                                      Name:
                                             -----------------------------------
                                      Title:
                                              ----------------------------------

                           Exhibit F to the Five-Year Revolving Credit Agreement

<PAGE>

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                    SWING LINE LOANS AND PAYMENTS WITH RESPECT THERETO

                  Amount of           Amount of Principal or         Outstanding Principal
   Date           Loan Made          Interest Paid This Date           Balance This Date            Notation Made By
------------------------------------------------------------------------------------------------------------------------

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

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

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

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

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

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

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

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

                                                                  Exhibit F to the Five-Year Revolving Credit Agreement
</TABLE>
                                                            2

<PAGE>

                                                   SCHEDULE 2.01
<TABLE>
<CAPTION>
                                                    COMMITMENTS
                                                AND PRO RATA SHARES

                              Lender                                        Commitment             Pro Rata Share
<S>                                                                      <C>                        <C>
Bank of America, N.A.                                                    $190,125,000.00            8.4500000000%
The Chase Manhattan Bank                                                 $190,125,000.00            8.4500000000%
The Bank of New York                                                     $190,125,000.00            8.4500000000%
Citibank, N.A.                                                           $190,125,000.00            8.4500000000%
Barclays Bank PLC                                                        $126,750,000.00            5.6333333333%
First Union National Bank                                                $126,750,000.00            5.6333333333%
The Industrial Bank of Japan, Limited                                    $126,750,000.00            5.6333333333%
Toronto Dominion (Texas), Inc.                                           $126,750,000.00            5.6333333333%
The Bank of Nova Scotia                                                   $75,000,000.00            3.3333333333%
Deutsche Bank AG New York Branch and/or Cayman                            $75,000,000.00            3.3333333333%
Islands Branch
Fleet National Bank                                                       $75,000,000.00            3.3333333333%
PNC Bank, National Association                                            $75,000,000.00            3.3333333333%
The Sumitomo Bank, Limited                                                $75,000,000.00            3.3333333333%
SunTrust Bank                                                             $75,000,000.00            3.3333333333%
Westdeutsche Landesbank Girozentrale, New York Branch                     $75,000,000.00            3.3333333333%
Mellon Bank, N.A.                                                         $50,000,000.00            2.2222222222%
Bayerische Landesbank Girozentrale, Cayman Islands                        $37,500,000.00            1.6666666667%
Branch
Morgan Guaranty Trust Company of New York                                 $37,500,000.00            1.6666666667%
Lehman Commercial Paper Inc.                                              $37,500,000.00            1.6666666667%
Lloyds TSB Bank plc                                                       $37,500,000.00            1.6666666667%
Merrill Lynch Capital Corporation                                         $37,500,000.00            1.6666666667%
The Sanwa Bank, Ltd., New York Branch                                     $30,000,000.00            1.3333333333%
Arab Bank Plc                                                             $25,000,000.00            1.1111111111%

                                                        Schedule 2.01 to the Five-Year Revolving Credit Agreement

                                                         1

<PAGE>

                              Lender                                        Commitment             Pro Rata Share
Bank One, NA                                                              $25,000,000.00            1.1111111111%
Dresdner Bank AG, New York and Grand Cayman                               $25,000,000.00            1.1111111111%
Branches
The Norinchukin Bank, New York Branch                                     $25,000,000.00            1.1111111111%
Allfirst Bank                                                             $17,500,000.00            0.7777777778%
BNP Paribas                                                               $15,000,000.00            0.6666666667%
Credit Suisse First Boston                                                $12,500,000.00            0.5555555556%
Summit Bank                                                               $12,500,000.00            0.5555555556%
The Tokai Bank, Limited, New York Branch                                  $12,500,000.00            0.5555555556%
U.S. Bank National Association                                            $12,500,000.00            0.5555555556%
First Tennessee Bank National Association                                 $7,500,000.00             0.3333333333%
Total                                                                   $2,250,000,000.00              100.00%

                                                        Schedule 2.01 to the Five-Year Revolving Credit Agreement
</TABLE>

                                                         2

<PAGE>

                                                   SCHEDULE 2.03

                           EXISTING LETTERS OF CREDIT

<TABLE>
<CAPTION>
    Issuing Lender                Amount         Expiration         Beneficiary                         Evergreen
                                                    Date                                                 (Yes/No)
<S>                          <C>                  <C>         <C>                                     <C>
Bank of America, N.A.        $11,640,000.00       02/14/01    GE American Communications                    No
Bank of America, N.A.            $25,000.00       03/10/01    Manassas Park, VA                            Yes
Bank of America, N.A.            $10,000.00       04/30/01    Brentwood, MD                                Yes
Bank of America, N.A.            $10,000.00       04/30/01    University Park, MD                          Yes
Bank of America, N.A.            $11,000.00       04/30/01    New Carrollton, MD                           Yes
Bank of America, N.A.            $10,000.00       04/30/01    Mt. Rainier, MD                              Yes
Bank of America, N.A.            $24,000.00       04/30/01    Laurel, MD                                   Yes
Bank of America, N.A.            $16,000.00       04/30/01    Greenbelt, MD                                Yes
Bank of America, N.A.            $10,000.00       09/30/00    North Brentwood, MD                          Yes
Bank of America, N.A.            $10,000.00       09/30/00    Colmar Manor, MD                             Yes
Bank of America, N.A.            $40,000.00       09/30/00    College Park, MD                             Yes
Bank of America, N.A.            $10,000.00       09/30/00    Berwyn Heights, MD                           Yes
Bank of America, N.A.           $500,000.00       09/30/00    Prince George's County, MD                   Yes
Bank of America, N.A.            $15,000.00       03/31/01    Bowie, MD                                    Yes
Bank of America, N.A.            $10,000.00       04/30/01    District Heights, MD                         Yes
Bank of America, N.A.            $10,000.00       04/30/01    Landover Hills, MD                           Yes
Bank of America, N.A.            $10,000.00       04/30/01    Edmonston, MD                                Yes
Bank of America, N.A.            $10,000.00       09/30/00    Glenarden, MD                                Yes
Bank of America, N.A.            $51,000.00       03/31/01    City Manager/City of Bowie,                  Yes
                                                              MD
Bank of America, N.A.            $29,818.00       04/15/01    Board of County Supervisors                  Yes
                                                              of Prince William County
Bank of America, N.A.            $30,000.00       12/15/00    Indian Head Park                             Yes
Bank of America, N.A.           $200,000.00       10/02/00    St. Charles                                  Yes
Bank of America, N.A.           $200,000.00       10/02/00    Geneva                                       Yes

                                                     Schedule 2.03 to the Five-Year Revolving Credit Agreement

                                                         1

<PAGE>

    Issuing Lender                Amount         Expiration         Beneficiary                         Evergreen
                                                    Date                                                 (Yes/No)
Bank of America, N.A.            $20,000.00       10/02/00    Hazel Crest                                  Yes
Bank of America, N.A.           $100,000.00       10/02/00    Deer Park                                    Yes
Bank of America, N.A.            $50,000.00       10/02/00    Flossmoor                                    Yes
Bank of America, N.A.            $36,429.00       10/02/00    Barrington                                   Yes
Bank of America, N.A.           $200,000.00       10/02/00    Addison                                      Yes
Bank of America, N.A.            $15,000.00       10/31/00    Los Angeles County                           Yes
Bank of America, N.A.           $500,000.00       10/31/00    Alexandria, VA                               Yes
Bank of America, N.A.            $75,000.00       04/30/01    Lancaster, CA                                Yes
Bank of America, N.A.           $100,000.00       05/16/01    First Trust of California                    Yes
Bank of America, N.A.            $10,000.00       07/01/01    Sherburne/Wright County CCC                  Yes
Bank of America, N.A.            $10,000.00       12/31/00    Manitowoc                                    Yes
Bank of America, N.A.            $40,000.00       10/05/00    Glen Ellyn                                   Yes
Bank of America, N.A.            $25,000.00       10/15/00    Grayslake                                    Yes
Bank of America, N.A.            $25,000.00       10/15/00    Libertyville                                 Yes
Bank of America, N.A.             $5,000.00       10/31/00    Hassan                                       Yes
Bank of America, N.A.            $25,000.00       11/21/00    Wauconda                                     Yes
Bank of Nova Scotia              $10,000.00       03/31/01    Lee's Summit                                 Yes
Bank of Nova Scotia             $250,000.00       04/11/01    Savannah, GA                                 Yes
Bank of Nova Scotia               $5,000.00       07/13/01    County of Los Angeles CACT                   Yes
Bank of Nova Scotia              $15,000.00       02/24/01    County of Los Angeles ISD                    Yes
Bank of Nova Scotia             $150,000.00       07/12/01    Jesup City                                   Yes
Bank of Nova Scotia              $20,000.00       07/12/01    Independence, MO                             Yes
Bank of Nova Scotia               $5,000.00       07/12/01    Raymore                                      Yes
Bank of Nova Scotia              $10,000.00       07/12/01    Blue Springs                                 Yes
Bank of Nova Scotia               $7,500.00       07/12/01    Raytown                                      Yes
Bank of Nova Scotia               $5,000.00       07/12/01    Sugar Creek                                  Yes
Bank of Nova Scotia               $5,000.00       07/12/01    Peculiar                                     Yes

                                                          Schedule 2.03 to the Five-Year Revolving Credit Agreement
</TABLE>

                                                         2
<PAGE>

                                  SCHEDULE 4.01

                            INDEBTEDNESS TO BE REPAID

                                                             Outstanding Amount
                                                             at August 24, 2000
Comcast SCH Holdings, Inc. Credit Facility                     $550,000,000.00
Comcast MH Holdings, Inc. Credit Facility                       572,000,000.00
Jones Cable Holdings, Inc. Credit Facility                      388,000,000.00
Jones Cable Holdings II, Inc. Credit Facility                   554,000,000.00
Garden State Cablevision, L.P. Credit Facility                  286,000,000.00
TOTAL INDEBTEDNESS TO BE REPAID                              $2,350,000,000.00

                       Schedule 4.01 to the Five-Year Revolving Credit Agreement

                                        1

<PAGE>

                                  SCHEDULE 7.01

                                 EXISTING LIENS

                                                     Outstanding Amount Secured
                                                        at August 24, 2000
Lenfest Capital Leases (Various Subs)                     $1,053,022.00
Holdings - P.C. Building Leases                              616,769.00
Jones Intercable Car Leases (Various Subs)                   550,982.00
Prime Potomac Capital Leases                               1,262,943.00
Prime Chicago Capital Leases                               1,613,134.00
TOTAL OUTSTANDING LIENS                                   $5,096,850.00

                       Schedule 7.01 to the Five-Year Revolving Credit Agreement

                                        1

<PAGE>

                                  SCHEDULE 7.02

                        EXISTING SUBSIDIARY INDEBTEDNESS

                                                      Outstanding Amount
                                                      at August 24, 2000
Lenfest AUL Loan                                         $2,687,812.00
Lenfest Capital Leases (Various Subs)                     1,053,022.00
Prime Potomac Letter of Credit                           61,314,840.80
Prime Potomac Capital Leases                              1,262,943.00
Prime Chicago Capital Leases                              1,613,134.00
TOTAL SUBSIDIARY INDEBTEDNESS                           $67,931,751.80

                       Schedule 7.02 to the Five-Year Revolving Credit Agreement

                                        1364-DAY REVOLVING CREDIT AGREEMENT

                                      among

                       COMCAST CABLE COMMUNICATIONS, INC.

                                       and

                     The Financial Institutions Party Hereto

                         BANC OF AMERICA SECURITIES LLC
                                       and
                             CHASE SECURITIES INC.,
                                       as
                  Joint Lead Arrangers and Joint Book Managers

                            BNY CAPITAL MARKETS, INC.
                                       and
                           SALOMON SMITH BARNEY INC.,
                                 as Co-Arrangers

                             BANK OF AMERICA, N.A.,
                             as Administrative Agent

                             CHASE SECURITIES INC.,
                              as Syndication Agent

                                 CITIBANK, N.A.
                                       and
                              THE BANK OF NEW YORK,
                           as Co-Documentation Agents

                           Dated as of August 24, 2000

<PAGE>

<TABLE>
<CAPTION>

                                                  TABLE OF CONTENTS
Section                                                                                                        Page
<S>                                                                                                           <C>
SECTION 1. - DEFINITIONS AND ACCOUNTING TERMS....................................................................1
                  1.01     Defined Terms.........................................................................1
                  1.02     Use of Certain Terms.................................................................13
                  1.03     Accounting Terms.....................................................................14
                  1.04     Rounding.............................................................................14
                  1.05     Exhibits and Schedules...............................................................14
                  1.06     References to Agreements and Laws....................................................14
                  1.07     Pro Forma Calculations...............................................................14

SECTION 2. - THE COMMITMENTS AND EXTENSIONS OF CREDIT...........................................................15
                  2.01     Amount and Terms of Commitments......................................................15
                  2.02     Borrowings, Conversions and Continuations of Loans...................................16
                  2.03     Prepayments..........................................................................17
                  2.04     Reduction or Termination of Commitments..............................................17
                  2.05     Principal and Interest...............................................................17
                  2.06     Fees.................................................................................18
                  2.07     Computation of Interest and Fees.....................................................19
                  2.08     Making Payments......................................................................19
                  2.09     Funding Sources......................................................................20
                  2.10     Extension of Maturity Date...........................................................20

SECTION 3. - TAXES, YIELD PROTECTION AND ILLEGALITY.............................................................21
                  3.01     Taxes................................................................................21
                  3.02     Illegality...........................................................................22
                  3.03     Inability to Determine Eurodollar Rates..............................................23
                  3.04     Increased Cost and Reduced Return; Capital Adequacy..................................23
                  3.05     Breakfunding Costs...................................................................24
                  3.06     Matters Applicable to all Requests for Compensation..................................24
                  3.07     Survival.............................................................................24

SECTION 4. - CONDITIONS PRECEDENT TO EXTENSIONS OF CREDIT.......................................................24
                  4.01     Conditions Precedent to Closing Date.................................................24
                  4.02     Conditions to all Extensions of Credit...............................................26

SECTION 5. - REPRESENTATIONS AND WARRANTIES.....................................................................26
                  5.01     Existence and Qualification; Power; Compliance with Laws.............................26
                  5.02     Power; Authorization; Enforceable Obligations........................................26
                  5.03     No Legal Bar.........................................................................27
                  5.04     Financial Statements; No Material Adverse Effect.....................................27
                  5.05     Litigation...........................................................................27
                  5.06     No Default...........................................................................27
                  5.07     Authorizations.......................................................................27
                  5.08     Taxes................................................................................28

                                                                                 364-Day Revolving Credit Agreement

                                                         (i)

<PAGE>

                  5.09     Margin Regulations; Investment Company Act; Public Utility Holding
                           Company Act..........................................................................28
                  5.10     ERISA Compliance.....................................................................28
                  5.11     Assets; Liens........................................................................29
                  5.12     Environmental Compliance.............................................................29
                  5.13     Use of Proceeds......................................................................29
                  5.14     Disclosure...........................................................................29

SECTION 6. - AFFIRMATIVE COVENANTS..............................................................................29
                  6.01     Financial Statements.................................................................29
                  6.02     Certificates, Notices and Other Information..........................................30
                  6.03     Payment of Taxes.....................................................................30
                  6.04     Preservation of Existence............................................................30
                  6.05     Maintenance of Properties............................................................31
                  6.06     Maintenance of Insurance.............................................................31
                  6.07     Compliance With Laws.................................................................31
                  6.08     Inspection Rights....................................................................31
                  6.09     Keeping of Records and Books of Account..............................................31
                  6.10     Compliance with ERISA................................................................31
                  6.11     Compliance With Agreements...........................................................31
                  6.12     Use of Proceeds......................................................................31
                  6.13     Designation of Unrestricted Companies................................................32

SECTION 7. - NEGATIVE COVENANTS.................................................................................32
                  7.01     Liens................................................................................32
                  7.02     Subsidiary Indebtedness..............................................................33
                  7.03     Fundamental Changes..................................................................33
                  7.04     ERISA................................................................................34
                  7.05     Limitations on Upstreaming...........................................................34
                  7.06     Margin Regulations...................................................................34
                  7.07     Financial Covenants..................................................................34

SECTION 8. - EVENTS OF DEFAULT AND REMEDIES ....................................................................35
                  8.01     Events of Default....................................................................35
                  8.02     Remedies Upon Event of Default.......................................................36

SECTION 9. - ADMINISTRATIVE AGENT...............................................................................37
                  9.01     Appointment and Authorization of Administrative Agent................................37
                  9.02     Delegation of Duties.................................................................37
                  9.03     Liability of Administrative Agent....................................................37
                  9.04     Reliance by Administrative Agent.....................................................38
                  9.05     Notice of Default....................................................................38
                  9.06     Credit Decision; Disclosure of Information by Administrative Agent...................38
                  9.07     Indemnification of Administrative Agent..............................................39
                  9.08     Administrative Agent in Individual Capacity..........................................39
                  9.09     Resignation by Administrative Agent..................................................40
                  9.10     Other Agents.........................................................................40

                                                                                 364-Day Revolving Credit Agreement

                                                        (ii)

<PAGE>

SECTION 10. - MISCELLANEOUS.....................................................................................40
                  10.01    Amendments; Consents.................................................................40
                  10.02    Requisite Notice; Effectiveness of Signatures and Electronic Mail....................41
                  10.03    Attorney Costs, Expenses and Taxes...................................................42
                  10.04    Binding Effect; Assignment...........................................................43
                  10.05    Set-off..............................................................................44
                  10.06    Sharing of Payments..................................................................44
                  10.07    No Waiver; Cumulative Remedies.......................................................45
                  10.08    Usury................................................................................45
                  10.09    Counterparts.........................................................................45
                  10.10    Integration..........................................................................45
                  10.11    Nature of Lenders' Obligations.......................................................46
                  10.12    Survival of Representations and Warranties...........................................46
                  10.13    Indemnity by Borrower................................................................46
                  10.14    Nonliability of Lenders..............................................................47
                  10.15    No Third Parties Benefitted..........................................................47
                  10.16    Severability.........................................................................47
                  10.17    Confidentiality......................................................................48
                  10.18    Headings.............................................................................48
                  10.19    Time of the Essence..................................................................48
                  10.20    Foreign Lenders......................................................................48
                  10.21    Removal and Replacement of Lenders...................................................49
                  10.22    Governing Law........................................................................49
                  10.23    Waiver of Right to Trial by Jury.....................................................50

                                                                                 364-Day Revolving Credit Agreement

                                                        (iii)

<PAGE>

EXHIBITS

                  Form of

         A        Request for Extension of Credit
         B        Compliance Certificate
         C        Note
         D        Assignment and Acceptance
         E        Opinion of Counsel

SCHEDULES

         2.01     Commitments and Pro Rata Shares
         4.01     Indebtedness to be Repaid
         7.01     Existing Liens
         7.02     Existing Subsidiary Indebtedness

                                                                                 364-Day Revolving Credit Agreement

                                                        (iv)

</TABLE>

<PAGE>

                       364-DAY REVOLVING CREDIT AGREEMENT

         This 364-DAY  REVOLVING  CREDIT  AGREEMENT is entered into as of August
24,  2000,  by  and  among  COMCAST  CABLE  COMMUNICATIONS,   INC.,  a  Delaware
corporation   ("Borrower"),   each  lender  from  time  to  time  party   hereto
(collectively,  "Lenders"  and  individually,  a "Lender")  and BANK OF AMERICA,
N.A., as Administrative Agent.

                                     RECITAL

         Borrower has requested that Lenders provide a revolving line of credit,
and  Lenders  and  Administrative  Agent are  willing  to do so on the terms and
conditions set forth herein.

         In  consideration  of  the  mutual  covenants  and  agreements   herein
contained, the parties hereto covenant and agree as follows:

                                   SECTION 1.
                        DEFINITIONS AND ACCOUNTING TERMS

         1.01 Defined  Terms.  As used in this  Agreement,  the following  terms
shall have the meanings set forth below:

         "Acquisition"  means (a) any purchase or other acquisition of assets or
series of related  purchases or other  acquisitions of assets by Borrower or any
Restricted  Subsidiary  (including  by way of asset or stock  purchase,  swap or
merger)  other  than  from  Borrower  or any  Restricted  Subsidiary  or (b) the
designation  by  Borrower  of  an   Unrestricted   Subsidiary  as  a  Restricted
Subsidiary.

         "Administrative  Agent" means Bank of America, N.A., in its capacity as
administrative  agent  under  any  of  the  Loan  Documents,  or  any  successor
administrative agent permitted under the Loan Documents.

         "Administrative  Agent's Office" means  Administrative  Agent's address
and, as appropriate, account set forth below its signature to this Agreement, or
such other address or account as Administrative Agent hereafter may designate by
written notice to Borrower and Lenders.

         "Administrative   Agent-Related  Persons"  means  Administrative  Agent
(including any successor agent),  together with its Affiliates and the officers,
directors,   employees,   agents  and  attorneys-in-fact  of  such  Persons  and
Affiliates.

         "Administrative  Questionnaire"  means, with respect to each Lender, an
administrative  questionnaire in the form prepared by  Administrative  Agent and
submitted to  Administrative  Agent (with a copy to Borrower)  duly completed by
such Lender.

         "Affiliate"  means  any  Person  directly  or  indirectly  controlling,
controlled by, or under direct or indirect common control with, another Person.

         "Agreement" means this 364-Day Revolving Credit Agreement,  as amended,
restated,  extended,  supplemented or otherwise modified in writing from time to
time.

                                              364-Day Revolving Credit Agreement

                                        1

<PAGE>

         "Annualized EBITDA" means, at any date of determination, EBITDA for the
two fiscal quarter periods then most recently ended times two (2).

         "Annualized  Interest  Expense"  means,  at any date of  determination,
Interest  Expense for the two fiscal  quarter  periods then most recently  ended
times two (2).

         "Applicable  Amount" means the following  applicable  amount per annum,
based upon the applicable Debt Ratings:

<TABLE>
<CAPTION>
                                     Applicable Amount (in basis points per annum)
     Pricing               Debt Ratings                                                                 Utilization
      Level                S&P/Moody's                Facility Fee            Eurodollar Rate               Fee
      -----                -----------                ------------            ---------------               ---
<S>                          <C>                      <C>                     <C>                      <C>
        1                     >A/A2                        6.5                     21.0                      7.5
        2                     A-/A3                        8.0                     29.5                      7.5
        3                   BBB+/Baa1                     10.0                     35.0                     10.0
        4                    BBB/Baa2                     12.5                     47.5                     10.0
        5                   BBB-/Baa3                     15.0                     60.0                     12.5
        6             <BBB-/Baa3 or unrated               20.0                     80.0                     12.5
</TABLE>

         As used in this  definition,  "Debt  Rating"  means,  as of any date of
determination,  the rating as determined by either S&P or Moody's (collectively,
the "Debt Ratings") of Borrower's senior unsecured non-credit enhanced long-term
Indebtedness  for borrowed  money;  provided  that if a Debt Rating is issued by
each of S&P and Moody's,  then the higher of such Debt Ratings shall apply (with
Pricing Level 1 being the highest and Pricing Level 6 being the lowest),  unless
there is a split in Debt Ratings of more than one level, in which case the level
that is one level higher than the lower Debt Rating shall apply. Initially,  the
Debt Ratings  shall be determined  from the  certificate  delivered  pursuant to
Section  4.01(a)(v).  Thereafter,  the Debt Ratings shall be determined from the
most recent public  announcement of any changes in the Debt Ratings.  Any change
in the  Applicable  Amount shall  become  effective on and as of the date of any
public  announcement  of any Debt Rating that  indicates a different  Applicable
Amount.  If the  rating  system of S&P or Moody's  shall  change,  Borrower  and
Administrative  Agent shall  negotiate in good faith to amend this definition to
reflect  such  changed  rating  system and,  pending the  effectiveness  of such
amendment  (which  shall  require the  approval of Required  Lenders),  the Debt
Rating shall be  determined  by reference to the rating most  recently in effect
prior to such change.

         "Applicable  Payment Date" means,  (a) as to any Eurodollar  Rate Loan,
the last day of the relevant Interest Period, any date that such Loan is prepaid
or Converted in whole or in part and the Maturity Date; provided,  however, that
if any Interest Period for a Eurodollar Rate Loan exceeds three months, interest
shall also be paid on the  Business Day which falls every three months after the
beginning of such Interest Period; and (b) as to any other Obligations, the last
Business Day of each calendar quarter and the Maturity Date, except as otherwise
provided herein.

         "Applicable Time" means New York time.

                                              364-Day Revolving Credit Agreement

                                        2

<PAGE>

         "Assignment  and   Acceptance"   means  an  Assignment  and  Acceptance
substantially in the form of Exhibit D.

         "Attorney  Costs" means the reasonable fees and  disbursements of a law
firm or other external counsel.

         "Attributable  Indebtedness"  means, with respect to any Sale-Leaseback
Transaction,  the present value (discounted at the rate set forth or implicit in
the terms of the lease included in such Sale-Leaseback Transaction) of the total
obligations of the lessee for rental payments (other than amounts required to be
paid  on  account  of  taxes,  maintenance,   repairs,  insurance,  assessments,
utilities,  operating  and labor  costs and other  items that do not  constitute
payments for property rights) during the remaining term of the lease included in
such Sale-Leaseback  Transaction  (including any period for which such lease has
been  extended).  In the case of any lease that is terminable by the lessee upon
payment of a penalty,  the Attributable  Indebtedness shall be the lesser of the
Attributable Indebtedness determined assuming termination on the first date such
lease may be terminated (in which case the Attributable  Indebtedness shall also
include the amount of the penalty,  but no rent shall be  considered as required
to be paid under such lease  subsequent  to the first date on which it may be so
terminated)  or  the  Attributable  Indebtedness  determined  assuming  no  such
termination.

         "Audited Financial  Statements" means the audited  consolidated balance
sheet of Borrower and its  Subsidiaries  for the fiscal year ended  December 31,
1999,  and the  related  consolidated  statements  of income  and cash  flows of
Borrower and its Subsidiaries for such fiscal year.

         "Bank of America" means Bank of America, N.A.

         "Base Rate" means for any day a fluctuating rate per annum equal to the
higher of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest
in  effect  for  such day as  publicly  announced  from  time to time by Bank of
America as its "prime  rate."  Such rate is a rate set by Bank of America  based
upon  various  factors  including  Bank of America's  costs and desired  return,
general economic conditions and other factors,  and is used as a reference point
for pricing some loans,  which may be priced at, above,  or below such announced
rate.  Any change in such rate announced by Bank of America shall take effect at
the opening of business on the day specified in the public  announcement of such
change.

         "Base Rate Loan" means a Loan made  hereunder that bears interest based
upon the Base Rate.

         "BLR" means Brian L. Roberts,  the estate of Brian L.  Roberts,  or any
trust of which Brian L. Roberts is the principal beneficiary.

         "Borrower"  has the  meaning  set forth in the  introductory  paragraph
hereto.

         "Borrowing" and "Borrow" each mean a borrowing of Loans hereunder.

         "Business Day" means any day other than a Saturday, Sunday or other day
on which commercial banks in New York, New York or Dallas,  Texas are authorized
or required by law to close,  and, if the  applicable  Business Day relates to a
Eurodollar  Rate Loan,  any such day on which  dealings  are  carried out in the
applicable offshore Dollar market.

                                              364-Day Revolving Credit Agreement

                                        3

<PAGE>

         "Change of  Control"  means an event or series of events as a result of
which neither Comcast  Corporation  nor BLR, either  separately or on a combined
basis, is to be the "beneficial  owner" (as defined in Rules 13(d)-3 and 13(d)-5
under the Securities Exchange Act of 1934) directly or indirectly of such equity
as entitles  the holder  thereof,  under  ordinary  circumstances,  to elect the
majority of the board of directors of Borrower.

         "Closing  Date"  means  the date upon  which  this  Agreement  has been
executed by Borrower,  Lenders and  Administrative  Agent and all the conditions
precedent in Section 4.01 have been satisfied or waived.

         "Code" means the Internal Revenue Code of 1986, as amended from time to
time.

         "Commitment" means, for each Lender, the amount set forth opposite such
Lender's  name on Schedule  2.01, as such amount may be reduced or adjusted from
time to time in accordance with the terms of this Agreement  (collectively,  the
"combined Commitments").

         "Compliance Certificate" means a certificate  substantially in the form
of  Exhibit  B,  properly  completed  and  signed by a  Responsible  Officer  of
Borrower.

         "Consolidated   Total   Indebtedness"   means,   as  of  any   date  of
determination,   the  total   Indebtedness   of  Borrower  and  its   Restricted
Subsidiaries, determined on a consolidated basis in accordance with GAAP.

         "Continuation" and "Continue" mean, with respect to any Eurodollar Rate
Loan, the continuation of such Eurodollar Rate Loan as a Eurodollar Rate Loan on
the last day of the Interest Period for such Loan.

         "Contractual  Obligation" means, as to any Person, any provision of any
security issued by such Person or of any agreement, instrument or undertaking to
which such Person is a party or by which it or any of its property is bound.

         "Conversion"  and  "Convert"  mean,  with  respect  to  any  Loan,  the
conversion of such Loan from or into another type of Loan.

         "Debtor Relief Laws" means the Bankruptcy  Code of the United States of
America, and all other liquidation, conservatorship,  bankruptcy, assignment for
the benefit of creditors, moratorium, rearrangement,  receivership,  insolvency,
reorganization  or similar debtor relief Laws of the United States of America or
other applicable  jurisdictions from time to time in effect affecting the rights
of creditors generally.

         "Default"  means any event  that,  with the giving of any  notice,  the
passage of time, or both, would be an Event of Default.

         "Default  Rate" means an  interest  rate equal to the Base Rate plus 2%
per annum;  provided,  however, that with respect to a Eurodollar Rate Loan (for
so long as it is a Eurodollar Rate Loan),  the Default Rate shall be an interest
rate equal to the interest rate  (including  any  Applicable  Amount)  otherwise
applicable  to such Loan plus 2% per annum,  in each case to the fullest  extent
permitted by applicable Laws.

         "Disposition"  means (a) any sale,  transfer  or other  disposition  of
assets or series of sales,  transfers or other disposition of assets by Borrower
or any Restricted Subsidiary (including by way of asset or stock

                                              364-Day Revolving Credit Agreement

                                        4

<PAGE>

sale, swap or merger) other than to Borrower or any Restricted Subsidiary or (b)
the  designation  by  Borrower of a  Restricted  Subsidiary  as an  Unrestricted
Subsidiary.

         "Dollar" and "$" means lawful money of the United States of America.

         "EBITDA"  means,  with  respect to any Person or any income  generating
assets,  for any period, an amount equal to (a) the net income of such Person or
generated  by such assets  adjusted to exclude (i) gains and losses from unusual
or  extraordinary  items  and (ii)  interest  income,  plus (b)  income or gross
receipts  taxes  (whether  or not  deferred),  Interest  Expense,  depreciation,
amortization and other non-cash charges to income, in each case for such period,
minus (c) any cash  payments  made during such period in respect of any non-cash
charges to income  accrued  during a prior period and added back in  determining
EBITDA  during  such prior  period  pursuant  to clause  (b) above,  plus (d) in
respect  of any  period  ended on or before  December  31,  2000,  to the extent
deducted in  determining  net income  during such period  pursuant to clause (a)
above,  management,  programming and similar fees paid (whether actually paid in
cash or accrued) by such Person during such period to Comcast Corporation or any
of its wholly-owned Subsidiaries other than Borrower or a Restricted Subsidiary;
provided such  management,  programming or similar  agreement  pursuant to which
such fees have been paid or accrued has been assigned to Borrower on or prior to
December 31, 2000.

         "Environmental Laws" means all Laws relating to environmental,  health,
safety and land use matters applicable to any property.

         "ERISA" means the Employee  Retirement  Income Security Act of 1974 and
any regulations issued pursuant thereto, as amended from time to time.

         "ERISA   Affiliate"  means  any  trade  or  business  (whether  or  not
incorporated)  under common control with Borrower  within the meaning of Section
414(b) or (c) of the Code (and Sections  414(m) and (o) of the Code for purposes
of provisions relating to Section 412 of the Code).

         "ERISA Event" means (a) any  "reportable  event," as defined in Section
4043 of ERISA or the regulations issued thereunder with respect to a Plan (other
than an event for which the 30-day notice  period is waived);  (b) the existence
with respect to any Plan of an "accumulated  funding  deficiency" (as defined in
Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the
filing  pursuant to Section  412(d) of the Code or Section 303(d) of ERISA of an
application  for a waiver of the minimum  funding  standard  with respect to any
Plan;  (d) the  incurrence by Borrower or any ERISA  Affiliates of any liability
under Title IV of ERISA with  respect to the  termination  of any Plan;  (e) the
receipt by Borrower or any ERISA Affiliate from the PBGC or a plan administrator
of any notice  relating to an intention  to  terminate  any Plan or to appoint a
trustee to  administer  any Plan;  (f) the  incurrence  by Borrower or any ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal
from any Plan or  Multiemployer  Plan; or (g) the receipt by any Borrower or any
ERISA  Affiliate of any notice,  or the receipt by any  Multiemployer  Plan from
Borrower or any ERISA  Affiliate of any notice,  concerning  the  imposition  of
withdrawal  liability or a  determination  that a  Multiemployer  Plan is, or is
expected to be, insolvent or in  reorganization,  within the meaning of Title IV
of ERISA.

         "Eurodollar  Base Rate" has the meaning set forth in the  definition of
Eurodollar Rate.

                                              364-Day Revolving Credit Agreement

                                        5

<PAGE>

         "Eurodollar  Rate" means for any  Interest  Period with  respect to any
Eurodollar  Rate  Loan,  a rate per annum  determined  by  Administrative  Agent
pursuant to the following formula:

         Eurodollar Rate =              Eurodollar Base Rate
                           ----------------------------------------------
                                1.00 - Eurodollar Reserve Percentage

                  Where,

                  "Eurodollar Base Rate" means, for such Interest Period:

                  (a) The  rate  per  annum  equal  to the  rate  determined  by
         Administrative Agent to be the offered rate that appears on the page of
         the  Telerate   screen  that  displays  an  average   British   Bankers
         Association  Interest  Settlement  Rate for  deposits  in Dollars  (for
         delivery  on  the  first  day  of  such  Interest  Period)  with a term
         equivalent to such  Interest  Period,  determined  as of  approximately
         11:00 a.m.  (London  time) two Business  Days prior to the first day of
         such Interest Period, or

                  (b)  In  the  event  the  rate  referenced  in  the  preceding
         subsection  (a) does not appear on such page or service or such page or
         service  shall cease to be  available,  the rate per annum equal to the
         rate reasonably  determined by Administrative Agent (after consultation
         with  Borrower)  to be the  offered  rate on such  other  page or other
         service that displays an average British Bankers  Association  Interest
         Settlement  Rate for deposits in Dollars (for delivery on the first day
         of such  Interest  Period)  with a term  equivalent  to  such  Interest
         Period,  determined as of  approximately  11:00 a.m.  (London time) two
         Business Days prior to the first day of such Interest Period, or

                  (c)  In the  event  the  rates  referenced  in  the  preceding
         subsections  (a)  and  (b)  are  not  available,  the  rate  per  annum
         determined  by  Administrative  Agent as the  average  of the  rates of
         interest  (rounded  upward to the next 1/100th of 1%) at which deposits
         in Dollars  for  delivery on the first day of such  Interest  Period in
         same day funds in the  approximate  amount of the Eurodollar  Rate Loan
         being made,  Continued  or  Converted  by  Administrative  Agent in its
         capacity as a Lender and with a term equivalent to such Interest Period
         are offered by Reference  Banks to major banks in the London  interbank
         Dollar  market at their  request at  approximately  11:00 a.m.  (London
         time) two Business Days prior to the first day of such Interest Period.
         If any  Reference  Bank does not quote  such a rate at the  request  of
         Administrative  Agent,  such average rate shall be determined  from the
         rates of the Reference Banks that quote such a rate; and

                  "Eurodollar  Reserve Percentage" means, for any day during any
         Interest  Period,  the  reserve  percentage  (expressed  as a  decimal,
         rounded  upward  to the next  1/100th  of 1%) in  effect  on such  day,
         whether or not applicable to any Lender,  under regulations issued from
         time to time by the Board of  Governors of the Federal  Reserve  System
         for  determining  the  maximum  reserve   requirement   (including  any
         emergency,  supplemental or other marginal  reserve  requirement) for a
         member bank of the Federal  Reserve System in respect of  "Eurocurrency
         liabilities" (or in respect of any other category of liabilities, which
         includes deposits by reference to which the interest rate on Eurodollar
         Rate Loans is  determined  or any category of  extensions  of credit or
         other assets,  which  includes  loans by a non- United States office of
         any Lender to United States  residents).  The Eurodollar  Rate for each
         outstanding  Eurodollar Rate Loan shall be adjusted automatically as of
         the effective date of any change in the Eurodollar Reserve Percentage.

                                              364-Day Revolving Credit Agreement

                                        6

<PAGE>

         The  determination  of  the  Eurodollar   Reserve  Percentage  and  the
Eurodollar Base Rate by Administrative  Agent shall be conclusive in the absence
of manifest error.

         "Eurodollar  Rate  Loan"  means a Loan  bearing  interest  based on the
Eurodollar Rate.

         "Event of Default" means any of the events specified in Section 8.

         "Extension of Credit" means a Borrowing,  Conversion or Continuation of
Loans.

         "Federal  Funds Rate" means,  for any day, the rate per annum  (rounded
upwards to the nearest  1/100 of 1%) equal to the weighted  average of the rates
on overnight  Federal  funds  transactions  with members of the Federal  Reserve
System  arranged  by Federal  funds  brokers on such day,  as  published  by the
Federal  Reserve Bank of New York on the Business Day next  succeeding such day;
provided  that (a) if such day is not a Business Day, the Federal Funds Rate for
such day shall be such rate on such transactions on the next preceding  Business
Day as so published on the next succeeding Business Day, and (b) if no such rate
is so published on such next succeeding Business Day, the Federal Funds Rate for
such day shall be the  average  rate  charged  to Bank of America on such day on
such  transactions as determined by  Administrative  Agent (which  determination
shall be conclusive in the absence of manifest error).

         "Five-Year  Agreement"  means the Five-Year  Revolving Credit Agreement
dated August 24, 2000, among Borrower,  Bank of America, N.A., as Administrative
Agent, Swing Line Lender and Issuing Lender and the lenders party thereto.

         "GAAP" means  generally  accepted  accounting  principles  applied on a
consistent  basis (but  subject to changes  approved by  Borrower's  independent
certified public accountants).

         "Governmental Authority" means (a) any international, foreign, federal,
state, county or municipal government, or political subdivision thereof, (b) any
governmental or quasi-governmental agency, authority, board, bureau, commission,
department, instrumentality,  central bank or public body, including the Federal
Communications  Commission,  (c) any state public utilities  commission or other
authority and any federal,  state, county, or municipal licensing or franchising
authority or (d) any court or administrative tribunal.

         "Guaranty Obligation" means, as to any Person, any (a) guaranty by such
Person of Indebtedness of any other Person or (b) legally binding  obligation of
such Person to purchase or pay (or to advance or supply  funds for the  purchase
or payment  of)  Indebtedness  of any other  Person,  or to  purchase  property,
securities,  or  services  for  the  purpose  of  assuring  the  owner  of  such
Indebtedness of the payment of such Indebtedness or to maintain working capital,
equity capital or other financial statement condition of such other Person so as
to enable such other Person to pay such Indebtedness;  provided,  however,  that
the term Guaranty  Obligation shall not include  endorsements of instruments for
deposit or  collection  in the ordinary  course of  business.  The amount of any
Guaranty  Obligation  shall be  deemed to be an  amount  equal to the  stated or
determinable  amount of the  related  primary  obligation,  or portion  thereof,
covered  by such  Guaranty  Obligation  or, if not stated or  determinable,  the
maximum reasonably anticipated liability in respect thereof as determined by the
Person in good faith.

         "Indebtedness"  means, as to any Person,  without duplication,  (a) all
obligations  of such Person for  borrowed  money,  (b) all  obligations  of such
Person evidenced by bonds,  debentures,  notes or similar  instruments,  (c) all
obligations  of such Person  under  conditional  sale or other  title  retention
agreements

                                              364-Day Revolving Credit Agreement

                                        7

<PAGE>

relating to property or assets purchased by such Person,  (d) all obligations of
such  Person  issued or assumed as the  deferred  purchase  price of property or
services,  (e) all  Indebtedness of others secured by any Lien on property owned
or acquired by such Person,  whether or not the obligations secured thereby have
been  assumed,  (f) all  Guaranty  Obligations  of such Person  with  respect to
Indebtedness of others,  (g) all capital lease  obligations of such Person,  (h)
all Attributable Indebtedness under Sale-Leaseback Transactions under which such
Person is the lessee and (i) all  obligations of such Person as an account party
in respect of outstanding  letters of credit (whether or not drawn) and bankers'
acceptances;  provided,  however,  that Indebtedness shall not include (i) trade
accounts  payable  arising in the ordinary  course of business and (ii) deferred
compensation;  provided,  further  that in the  case of any  obligation  of such
Person which is recourse  only to certain  assets of such Person,  the amount of
such  Indebtedness  shall be deemed to be equal to (but  shall not  exceed)  the
value of the assets to which such  obligation  is recourse as  reflected  on the
balance sheet of such Person at the time of the  incurrence of such  obligation;
and provided,  further that the amount of any  Indebtedness  described in clause
(e) above  shall be the  lesser of the  amount of the  Indebtedness  or the fair
market value of the property securing such Indebtedness.

         "Indemnified Liabilities" has the meaning set forth in Section 10.13.

         "Indemnitees" has the meaning set forth in Section 10.13.

         "Interest  Coverage  Ratio" means,  at any date of  determination,  for
Borrower and its Restricted Subsidiaries,  on a consolidated basis, the ratio of
(a) Annualized EBITDA to (b) Annualized Interest Expense.

         "Interest  Expense"  means,  with  respect  to any Person or any income
generating assets, for any period, an amount equal to, without duplication,  (a)
all  interest  on  Indebtedness  of such Person or  properly  allocable  to such
assets, and commitment and facility fees in respect thereof, accrued (whether or
not actually paid) during such period,  plus (b) the net amount accrued (whether
or not  actually  paid) by such  Person or  properly  allocable  to such  assets
pursuant to any interest rate protection  agreement during such period (or minus
the net amount receivable  (whether or not actually  received) by such Person or
properly allocable to such assets during such period).

         "Interest  Period" means, for each Eurodollar Rate Loan, (a) initially,
the period  commencing  on the date such  Eurodollar  Rate Loan is  disbursed or
Continued as, or Converted  into,  such Eurodollar Rate Loan and (b) thereafter,
the period  commencing on the last day of the  preceding  Interest  Period,  and
ending, in each case, on the earlier of (x) the scheduled  Maturity Date, or (y)
one, two, three or six months thereafter; provided that:

                  (i) Any Interest Period that would otherwise end on a day that
         is not a Business Day shall be extended to the next succeeding Business
         Day unless such Business Day falls in another  calendar month, in which
         case such Interest Period shall end on the next preceding Business Day;

                  (ii) Any Interest Period which begins on the last Business Day
         of a  calendar  month  (or on a day for which  there is no  numerically
         corresponding  day in the  calendar  month at the end of such  Interest
         Period) shall end on the last Business Day of the calendar month at the
         end of such Interest Period; and

                  (iii) Unless  Administrative  Agent otherwise consents,  there
         may not be more than ten (10)  Interest  Periods  for  Eurodollar  Rate
         Loans in effect at any time.

                                              364-Day Revolving Credit Agreement

                                        8

<PAGE>

         "IRS" means the United States Internal Revenue Service.

         "Laws" or "Law" means all international,  foreign,  federal,  state and
local   statutes,   treaties,   rules,   regulations,   ordinances,   codes  and
administrative or judicial precedents or authorities,  including,  if consistent
therewith,  the  interpretation  or  administration  thereof by any Governmental
Authority  charged  with  the  enforcement,   interpretation  or  administration
thereof.

         "Lead Arranger" means each of Banc of America  Securities LLC and Chase
Securities  Inc.,  in its  capacity  as a joint  lead  arranger  and joint  book
manager.

         "Lender" means each lender from time to time party hereto and,  subject
to the terms and conditions of this Agreement,  their respective  successors and
assigns (but not any purchaser of a participation  hereunder  unless otherwise a
party to this Agreement).

         "Lending Office" means, as to any Lender, the office or offices of such
Lender  described  as such on its  Administrative  Questionnaire,  or such other
office or offices as such  Lender  may from time to time  notify  Administrative
Agent and Borrower.

         "Leverage Ratio" means, at any date of determination,  the ratio of (a)
Consolidated  Total  Indebtedness  as of such date to (b)  Annualized  EBITDA of
Borrower and its Restricted Subsidiaries, on a consolidated basis.

         "Lien" means any mortgage, pledge, hypothecation,  assignment,  deposit
arrangement (in the nature of compensating balances, cash collateral accounts or
security  interests),   encumbrance,  lien  (statutory  or  other),  charge,  or
preference,  priority or other security interest (including any conditional sale
or other  title  retention  agreement,  any  financing  lease or  Sale-Leaseback
Transaction  having  substantially  the  same  economic  effect  as  any  of the
foregoing,  and  the  filing  of  any  financing  statement  under  the  Uniform
Commercial Code or comparable Laws of any jurisdiction),  including the interest
of a purchaser  of accounts  receivable;  provided  that Liens shall not include
ordinary and customary contractual set off rights.

         "Loan"  means any advance made by any Lender to Borrower as provided in
Section 2 (collectively, the "Loans").

         "Loan  Documents"  means this  Agreement,  each Note,  each Request for
Extension of Credit, each Compliance Certificate, each fee letter and each other
instrument or agreement from time to time delivered by Borrower pursuant to this
Agreement.

         "Material    Acquisition"   means   any   Acquisition   (the   "Subject
Acquisition")  (i) made at a time when the Leverage Ratio is in excess of 4.5 to
1.0 or (ii)  that has an  Annualized  Acquisition  Cash Flow  Value (as  defined
below) for the period ended on the last day of the fiscal  quarter most recently
ended  that is  greater  than  five  percent  (5%) of the  Annualized  EBITDA of
Borrower and its Restricted Subsidiaries,  on a consolidated basis, for the same
period.  The "Annualized  Acquisition Cash Flow Value" is an amount equal to (a)
the Annualized EBITDA of the assets comprising the Subject  Acquisition less (b)
the  Annualized  EBITDA of any assets  disposed of by Borrower or any Restricted
Subsidiary  (other than to Borrower or any Restricted  Subsidiary) in connection
with the Subject Acquisition.

                                              364-Day Revolving Credit Agreement

                                        9

<PAGE>

         "Material  Adverse  Effect"  means any set of  circumstances  or events
(other than  circumstances  or events  affecting the cable  industry in general)
which (a) has or would  reasonably be expected to have a material adverse effect
upon the validity or enforceability against Borrower of any Loan Document or (b)
is or would  reasonably  be expected to be material and adverse to the business,
assets,  liabilities,  results of operations or financial  condition of Borrower
and its Restricted Subsidiaries, taken as a whole.

         "Material    Disposition"   means   any   Disposition   (the   "Subject
Disposition")  (i) made at a time when the Leverage Ratio is in excess of 4.5 to
1.0 or (ii)  that has an  Annualized  Disposition  Cash Flow  Value (as  defined
below), for the period ended on the last day of the fiscal quarter most recently
ended  that is  greater  than  five  percent  (5%) of the  Annualized  EBITDA of
Borrower and its Restricted Subsidiaries,  on a consolidated basis, for the same
period.  The "Annualized  Disposition Cash Flow Value" is an amount equal to (a)
the Annualized EBITDA of the assets comprising the Subject  Disposition less (b)
the  Annualized  EBITDA of any assets  acquired by  Borrower  or any  Restricted
Subsidiary (other than from Borrower or any Restricted Subsidiary) in connection
with the Subject Disposition.

         "Maturity Date" means (a) August 23, 2001, as such date may be extended
pursuant to and in  accordance  with  Section 2.10 or (b) such earlier date upon
which the combined Commitments may be terminated in accordance with the terms of
this Agreement.

         "Minimum Amount" means, with respect to each of the following  actions,
the minimum  amount and any multiples in excess  thereof set forth opposite such
action:

<TABLE>
<CAPTION>
            Type of Action                          Minimum Amount                       Multiples in excess
                                                                                               thereof
--------------------------------------- --------------------------------------  --------------------------------------
<S>                                                  <C>                                      <C>
Borrowing or prepayment of, or                       $10,000,000                              $1,000,000
Conversion into, Base Rate
Loans
Borrowing, prepayment or                             $10,000,000                              $1,000,000
Continuation of, or Conversion
into, Eurodollar Rate Loans
Reduction in Commitments                             $25,000,000                              $5,000,000
Assignments                                          $10,000,000                                 None
</TABLE>

         "Moody's" means Moody's Investors Service, Inc., or it successor, or if
it is  dissolved  or  liquidated  or  no  longer  performs  the  functions  of a
securities  rating agency,  such other nationally  recognized  securities rating
agency agreed upon by Borrower and Administrative Agent and approved by Required
Lenders.

         "Multiemployer  Plan"  means  any  employee  benefit  plan of the  type
described in Section 4001(a)(3) of ERISA.

         "Note"  means a  promissory  note made by Borrower in favor of a Lender
evidencing  Loans made by such  Lender,  substantially  in the form of Exhibit C
(collectively, the "Notes").

                                              364-Day Revolving Credit Agreement

                                       10

<PAGE>

         "Obligations"  means all  advances  to,  and  debts,  liabilities,  and
obligations  of,  Borrower  arising under any Loan  Document,  whether direct or
indirect (including those acquired by assumption),  absolute or contingent,  due
or to become due, now existing or hereafter arising and including  interest that
accrues after the commencement of any proceeding under any Debtor Relief Laws by
or against Borrower.

         "Outstanding  Obligations"  means, as of any date, and giving effect to
making  any  Extension  of  Credit  requested  on such  date  and all  payments,
repayments and prepayments  made on such date, (a) when reference is made to all
Lenders, the aggregate  outstanding  principal amount of all Loans, and (b) when
reference is made to one Lender, the aggregate  outstanding  principal amount of
all Loans made by such Lender.

         "PBGC" means the Pension Benefit Guaranty  Corporation or any successor
thereto established under ERISA.

         "Person"   means  any   individual,   trustee,   corporation,   general
partnership,   limited  partnership,  limited  liability  company,  joint  stock
company, trust, unincorporated organization,  bank, business association,  firm,
joint venture or Governmental Authority.

         "Plan"  means  any  "employee  pension  benefit  plan" (as such term is
defined in Section  3(2) of ERISA),  other than a  Multiemployer  Plan,  that is
subject to Title IV of ERISA and is sponsored or  maintained  by Borrower or any
ERISA Affiliate or to which Borrower or any ERISA  Affiliate  contributes or has
an  obligation  to  contribute,  or in the case of a multiple  employer plan (as
described in Section 4064(a) of ERISA) has made contributions at any time during
the immediately preceding five plan years.

         "Pro Rata Share"  means,  with respect to each Lender,  the  percentage
(rounded,  if necessary to the ninth decimal place) of the combined  Commitments
set forth  opposite the name of such Lender on Schedule  2.01, as such share may
be adjusted as contemplated herein.

         "Reference Banks" means Bank of America, N.A., The Chase Manhattan Bank
, Citibank, N.A. and The Bank of New York.

         "Register" has the meaning set forth in Section 2.01(c).

         "Request for Extension of Credit"  means,  unless  otherwise  specified
herein, a written request substantially in the form of Exhibit A.

         "Required  Lenders" means, as of any date of determination:  (a) if the
Commitments are then in effect, Lenders (excluding any Lender that has failed to
fund  hereunder when the  applicable  conditions  precedent to such funding have
been  satisfied or waived in  accordance  herewith,  until such failure has been
cured)  having  in the  aggregate  more  than  50% of the  combined  Commitments
(excluding  the  Commitment of any Lender that has failed to fund hereunder when
the  applicable  conditions  precedent to such  funding  have been  satisfied or
waived in accordance herewith, until such failure has been cured) then in effect
and (b) if the  Commitments  have then been terminated and there are Outstanding
Obligations,  Lenders holding Outstanding  Obligations aggregating more than 50%
of such Outstanding Obligations.

         "Requisite  Notice" means a notice delivered in accordance with Section
10.02.

                                              364-Day Revolving Credit Agreement

                                       11

<PAGE>

         "Requisite  Time"  means,  with  respect to any of the  actions  listed
below, the time and date set forth below opposite such action:

<TABLE>
<CAPTION>
                   Type of Action                          Applicable                     Date of Action
                                                              Time
                                                           (New York
                                                             Time)
----------------------------------------------------  --------------------  ------------------------------------------
Delivery of Request for Extension of Credit for,
or notice for:

<S>                                                          <C>                   <C>
o     Borrowing or prepayment of Base Rate                   11:00 a.m.              Same Business Day as such
      Loans                                                                          Borrowing or prepayment
o     Conversion into Base Rate Loans                        11:00 a.m.              Same Business Day as such
                                                                                     Conversion
o     Borrowing, prepayment or Continuation                  11:00 a.m.              3 Business Days prior to such
      of, or Conversion into, Eurodollar Rate                                        Borrowing, prepayment,
      Loans                                                                          Continuation or Conversion
o     Request to extend Maturity Date                        11:00 a.m.              Not more than 60 or less than 30
                                                                                     days prior to Maturity Date then in
                                                                                     effect
o     Election to term out Loans                             11:00 a.m.              5 Business Days prior to Maturity
                                                                                     Date then in effect
Voluntary reduction in or termination of                     11:00 a.m.              3 Business Days prior to such
Commitments                                                                          reduction or termination
Payments by Lenders or Borrower to                            1:00 p.m.              On date payment is due
Administrative Agent
</TABLE>

         "Responsible  Officer" means the  president,  any vice  president,  the
controller,  the  chief  financial  officer,  the  treasurer  or  any  assistant
treasurer of Borrower. Any document or certificate hereunder that is signed by a
Responsible  Officer of  Borrower  shall be  conclusively  presumed to have been
authorized  by all necessary  corporate  action on the part of Borrower and such
Responsible  Officer shall be  conclusively  presumed to have acted on behalf of
Borrower.

         "Restricted  Subsidiary"  means each Subsidiary of Borrower that is not
an Unrestricted Subsidiary.

         "S&P"  means  Standard & Poor's  Ratings  Services,  a division  of The
McGraw-Hill  Companies,  Inc.,  or  its  successor,  or if it  is  dissolved  or
liquidated or no longer  performs the functions of a securities  rating  agency,
such  other  nationally  recognized  securities  rating  agency  agreed  upon by
Borrower and Administrative Agent and approved by Required Lenders.

         "Sale-Leaseback  Transaction" means any arrangement whereby Borrower or
any Restricted Subsidiary shall sell or transfer any property, real or personal,
used or useful in its business, whether now

                                              364-Day Revolving Credit Agreement

                                       12

<PAGE>

owned or hereafter  acquired,  and  thereafter  rent or lease  property  that it
intends to use for  substantially  the same  purpose or purposes as the property
sold or transferred.

         "Significant   Subsidiary"   means  any  Restricted   Subsidiary  whose
Annualized  EBITDA was greater than 5% of the Annualized  EBITDA of Borrower and
its Restricted  Subsidiaries,  on a consolidated  basis, for the period ended on
the last  day of the  fiscal  quarter  most  recently  ended,  or  whose  assets
comprised  more  than 5% of the  total  assets of  Borrower  and its  Restricted
Subsidiaries,  on a consolidated basis, as of the last day of the fiscal quarter
most recently ended.

         "Subsidiary"  of a  Person  means  a  corporation,  partnership,  joint
venture,  limited liability company or other business entity of which a majority
of the shares of securities or other interests  having ordinary voting power for
the election of  directors or other  governing  body (other than  securities  or
interests  having such power only by reason of the  happening of a  contingency)
are at the time beneficially owned, directly or indirectly,  through one or more
intermediaries,  or  both,  by such  Person.  Unless  otherwise  specified,  all
references to a "Subsidiary" or to  "Subsidiaries" in this Agreement shall refer
to a Subsidiary or Subsidiaries of Borrower.

         "Threshold Amount" means $200,000,000.

         "to the best  knowledge  of" means,  when  modifying a  representation,
warranty or other statement of any Person,  that the fact or situation described
therein  is known by such  Person  (or,  in the  case of a Person  other  than a
natural Person,  known by any officer of such Person) making the representation,
warranty or other statement,  or, if such Person had exercised  ordinary care in
performing his or its required duties, would have been known by such Person (or,
in the case of a Person other than a natural Person, would have been known by an
officer of such Person).

         "type" of Loan  means (a) a Base  Rate  Loan or (b) a  Eurodollar  Rate
Loan.

         "Unfunded  Pension  Liability"  means the  excess  of a Plan's  benefit
liabilities  under Section  4001(a)(16) of ERISA, over the current value of that
Plan's assets,  determined in accordance with the  assumptions  used for funding
the Plan pursuant to Section 412 of the Code for the applicable plan year.

         "Unrestricted  Subsidiary" means any Subsidiary of Borrower  designated
as an  "Unrestricted  Subsidiary"  from time to time in accordance  with Section
6.13.  Until so  designated,  each  Subsidiary of Borrower shall be a Restricted
Subsidiary.

         1.02 Use of Certain Terms.

              (a) All terms  defined in this  Agreement  shall have the  defined
meanings  when  used in any  certificate  or other  document  made or  delivered
pursuant hereto or thereto, unless otherwise defined therein.

              (b) As used herein,  unless the context  requires  otherwise,  the
masculine,  feminine and neuter  genders and the singular and plural include one
another.

              (c) The words "herein" and "hereunder" and words of similar import
when used in any Loan Document shall refer to the applicable  Loan Document as a
whole and not to any particular  provision  thereof.  The term "including" is by
way of example and not limitation. References herein to a Section, subsection

                                              364-Day Revolving Credit Agreement

                                       13

<PAGE>

or clause shall, unless the context otherwise requires, refer to the appropriate
Section, subsection or clause in this Agreement.

              (d) The term "or" is  disjunctive;  the term "and" is conjunctive.
The term "shall" is mandatory; the term "may" is permissive.

         1.03  Accounting  Terms.  All  accounting  terms  not  specifically  or
completely  defined in this Agreement shall be construed in conformity with, and
all financial data required to be submitted by this Agreement  shall be prepared
in conformity  with, GAAP applied on a consistent  basis, as in effect from time
to  time  in  the  United  States;  provided,  however,  that  for  purposes  of
determining  compliance  with the  covenants set forth in Section 7.07, if there
are  changes  in GAAP  after  December  31,  1999  that  materially  affect  the
calculation  of  the  covenants  in  Section  7.07  in  such a  manner  as to be
inconsistent  with  the  intent  of this  Agreement,  Administrative  Agent  and
Borrower  shall  negotiate in good faith to determine  such  adjustments  to the
method of calculating  compliance with Section 7.07 or related definitions as to
make  them  consistent  with the  intent  hereof.  Promptly  upon  Borrower  and
Administrative Agent reaching such agreement,  Administrative Agent shall notify
Lenders of such  adjustments,  which shall be conclusive unless Required Lenders
object to such adjustments within 30 days of receipt of notice.  Each Compliance
Certificate  shall be prepared in accordance with this Section 1.03,  except for
the exclusion of Unrestricted Subsidiaries from the calculations therein.

         1.04  Rounding.  Any  financial  ratios  required to be  maintained  by
Borrower  pursuant  to this  Agreement  shall  be  calculated  by  dividing  the
appropriate  component by the other component,  carrying the result to one place
more  than the  number  of  places  by which  such  ratio is  expressed  in this
Agreement  and  rounding  the result up or down to the  nearest  number  (with a
round-up  if there is no  nearest  number) to the number of places by which such
ratio is expressed in this Agreement.

         1.05  Exhibits  and  Schedules.  All  exhibits  and  schedules  to this
Agreement, either as originally existing or as the same may from time to time be
supplemented,  modified or amended, are incorporated herein by this reference. A
matter disclosed on any Schedule shall be deemed disclosed on all Schedules.

         1.06  References to Agreements  and Laws.  Unless  otherwise  expressly
provided herein, (a) references to agreements (including the Loan Documents) and
other  contractual  instruments  shall  include  all  amendments,  restatements,
extensions,  supplements and other  modifications  thereto (unless prohibited by
any Loan  Document),  and (b)  references to any Law shall include all statutory
and regulatory provisions consolidating,  amending, replacing,  supplementing or
interpreting such Law.

         1.07 Pro Forma Calculations. For the purposes of calculating Annualized
EBITDA of Borrower and its Restricted Subsidiaries, on a consolidated basis, and
Annualized  Interest Expense of Borrower and its Restricted  Subsidiaries,  on a
consolidated  basis,  for any period (a "Test Period"),  (i) if at any time from
the  period  (a "Pro  Forma  Period")  commencing  on the first day of such Test
Period and ending on the date which is ten days prior to the date of delivery of
the  Compliance  Certificate  in respect of such Test Period (or, in the case of
any pro forma calculation  required to be made pursuant hereto in respect of the
designation of a Restricted  Subsidiary as an Unrestricted  Subsidiary that is a
Material  Disposition  or the  designation  of an  Unrestricted  Subsidiary as a
Restricted  Subsidiary that is a Material  Acquisition,  ending on the date such
Material  Disposition or Material Acquisition is consummated after giving effect
thereto),  Borrower or any  Restricted  Subsidiary  shall have made any Material
Disposition,  the Annualized  EBITDA for such Test Period shall be reduced by an
amount  equal to the  Annualized  EBITDA  (if  positive)  for such  Test  Period

                                              364-Day Revolving Credit Agreement

                                       14

<PAGE>

attributable to the assets which are the subject of such Material Disposition or
increased by an amount equal to the  Annualized  EBITDA (if  negative)  for such
Test Period  attributable to such assets,  and Annualized  Interest  Expense for
such Test Period shall be reduced by an amount equal to the Annualized  Interest
Expense for such Test Period attributable to any Indebtedness of Borrower or any
Restricted Subsidiary repaid,  repurchased,  defeased or otherwise discharged in
connection  with such  Material  Disposition  (or, if the  capital  stock of any
Restricted  Subsidiary  is  sold  (pursuant  to  a  merger  or  otherwise),  the
Annualized  Interest  Expense for such Test Period directly  attributable to the
Indebtedness  of such  Restricted  Subsidiary  to the  extent  Borrower  and its
continuing  Restricted  Subsidiaries are no longer liable for such  Indebtedness
after such Material Disposition);  (ii) if during such Pro Forma Period Borrower
or any Restricted Subsidiary shall have made a Material Acquisition,  Annualized
EBITDA of Borrower and its Restricted Subsidiaries, on a consolidated basis, and
Annualized  Interest Expense of Borrower and its Restricted  Subsidiaries,  on a
consolidated  basis,  for such Test Period shall be calculated  after giving pro
forma effect thereto (including the incurrence or assumption of any Indebtedness
in connection  therewith) as if such Material Acquisition (and the incurrence or
assumption  of any such  Indebtedness)  occurred  on the  first day of such Test
Period;  and (iii) if during such Pro Forma Period any Person that  subsequently
became a  Restricted  Subsidiary  or was  merged  with or into  Borrower  or any
Restricted  Subsidiary  since the  beginning of such Pro Forma Period shall have
entered into any Material  Disposition or Material  Acquisition  that would have
required an adjustment  pursuant to clause (i) or (ii) above if made by Borrower
or a Restricted  Subsidiary  during such Pro Forma Period,  Annualized EBITDA of
Borrower  and  its  Restricted  Subsidiaries,   on  a  consolidated  basis,  and
Annualized  Interest Expense of Borrower and its Restricted  Subsidiaries,  on a
consolidated  basis,  for such Test Period shall be calculated  after giving pro
forma effect  thereto as if such Material  Disposition  or Material  Acquisition
occurred on the first day of such Test Period. For the purposes of this section,
whenever pro forma effect is to be given to a Material  Disposition  or Material
Acquisition,  the amount of income or earnings related thereto and the amount of
Annualized  Interest  Expense  associated  with any  Indebtedness  discharged or
incurred in connection therewith, the pro forma calculations shall be determined
in good faith by a Responsible Officer of Borrower.  If any Indebtedness bears a
floating  rate of interest and the  incurrence  or  assumption  thereof is being
given pro forma effect,  the Annualized  Interest  Expense on such  Indebtedness
shall be calculated as if the rate in effect on the last day of the relevant Pro
Forma Period had been the  applicable  rate for the entire  relevant Test Period
(taking into account any interest rate protection  agreement  applicable to such
Indebtedness if such interest rate protection  agreement has a remaining term in
excess of 12 months).  Comparable  adjustments  shall be made in connection with
any determination of Annualized EBITDA.

                                   SECTION 2.
                    THE COMMITMENTS AND EXTENSIONS OF CREDIT

         2.01 Amount and Terms of Commitments.

              (a)  Subject  to the  terms  and  conditions  set  forth  in  this
Agreement,  each Lender severally agrees to make,  Convert and Continue Loans in
Dollars until, but not including,  the Maturity Date in such amounts as Borrower
may from  time to time  request;  provided,  however,  that (i) the  Outstanding
Obligations  of each Lender  shall not exceed such  Lender's  Commitment  at any
time, and (ii) the  Outstanding  Obligations of all Lenders shall not exceed the
combined Commitments at any time. This is a revolving credit and, subject to the
foregoing  and the other  terms and  conditions  hereof,  Borrower  may  borrow,
Convert, Continue, prepay and reborrow Loans as set forth herein without premium
or penalty.

              (b) Upon the  request of any Lender  made  through  Administrative
Agent, a Lender's Loans may be evidenced by a Note, instead of or in addition to
its loan accounts or records. Each such Lender may

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<PAGE>

attach  schedules to its Note and endorse thereon the date,  amount and maturity
of its Loans and payments with respect thereto.  Any failure so to record or any
error in doing so shall not,  however,  limit or otherwise affect the obligation
of Borrower to pay any amount owing with respect to the Obligations.

              (c) (i)  Administrative  Agent shall maintain,  at  Administrative
Agent's  Office,  a register for the  recordation  of the names and addresses of
Lenders and the Commitments and Extensions of Credit of each Lender from time to
time (the  "Register").  The  Register  shall be  available  for  inspection  by
Borrower  or any  Lender  at any  reasonable  time  and from  time to time  upon
reasonable  prior  notice.  Administrative  Agent shall  maintain the  Register,
acting,  solely for this administrative  purpose only, as agent for Borrower (it
being acknowledged and agreed that Administrative  Agent and each Administrative
Agent-Related  Person,  in such capacity,  shall  constitute  Indemnitees  under
Section 10.13).

                  (ii)  Administrative  Agent shall  record in the  Register the
Commitment and  Extensions of Credit from time to time of each Lender,  and each
repayment or prepayment in respect thereof.  Any recordation shall be conclusive
and  binding on Borrower  and each  Lender,  absent  manifest  error;  provided,
however,  that the  failure to make any such  recordation,  or any error in such
recordation,   shall  not  affect  any  Lender's   Commitment   or   Outstanding
Obligations.

                  (iii) Each Lender shall record on its internal  loan  accounts
or records  (and may record on the  Note(s)  held by such  Lender) the amount of
each  Extension  of  Credit  made by it and each  payment  in  respect  thereof;
provided  that the  failure to make any such  recordation,  or any error in such
recordation,   shall  not  affect  any  Lender's   Commitment   or   Outstanding
Obligations;  and  provided,  further,  that in the  event of any  inconsistency
between the Register and any Lender's records,  the recordations in the Register
shall govern, absent manifest error.

                  (iv) Borrower, Administrative Agent and the Lenders shall deem
and treat the  Persons  listed as Lenders in the  Register  as the  holders  and
owners of the corresponding  Commitments and Extensions of Credit listed therein
for all purposes hereof, and no assignment or transfer of any such Commitment or
Extensions  of Credit  shall be  effective,  in each  case,  unless and until an
Assignment  and Acceptance  effecting the  assignment or transfer  thereof shall
have been accepted by Administrative  Agent and recorded in the Register.  Prior
to such recordation,  all amounts owed with respect to the applicable Commitment
or Outstanding Obligations shall be owed to the Lender listed in the Register as
the owner thereof,  and any request,  authority or consent of any Person who, at
the time of making such request or giving such  authority or consent,  is listed
in the Register as a Lender shall be  conclusive  and binding on any  subsequent
holder,  assignee or transferee of the corresponding  Commitments or Outstanding
Obligations.

         2.02 Borrowings, Conversions and Continuations of Loans.

              (a) Borrower may  irrevocably  request a Borrowing,  Conversion or
Continuation  of Loans on any  Business  Day in a  Minimum  Amount  therefor  by
delivering  a Request for  Extension of Credit  therefor by Requisite  Notice to
Administrative Agent not later than the Requisite Time therefor. All Borrowings,
Conversions and  Continuations  shall constitute Base Rate Loans unless properly
and timely otherwise designated as set forth in the prior sentence.

              (b)  Following  receipt  of a Request  for  Extension  of  Credit,
Administrative  Agent shall promptly  notify each Lender by Requisite  Notice of
its Pro Rata Share  thereof.  In the case of a Borrowing  of Loans,  each Lender
shall  make  the  funds  for its  Loan  available  to  Administrative  Agent  at
Administrative  Agent's Office not later than the Requisite Time therefor on the
Business Day specified in such Request for Extension

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<PAGE>

of Credit.  Upon satisfaction of the applicable  conditions set forth in Section
4.02 (if applicable to such Extension of Credit) (and, if the initial  Extension
of  Credit  hereunder,  Section  4.01),  all  funds  so  received  shall be made
available  to  Borrower  in like  funds  received.  Administrative  Agent  shall
promptly  notify  Borrower and Lenders of the interest  rate  applicable  to any
Eurodollar Rate Loan upon determination of same. Administrative Agent shall from
time to time  notify  Borrower  and  Lenders of any change in Bank of  America's
prime  rate used in  determining  the Base Rate  promptly  following  the public
announcement of such change.

              (c) Unless  Borrower  pays all amounts due under  Section 3.05, if
any, a Eurodollar  Rate Loan may be Continued or Converted  only on the last day
of the Interest Period for such Eurodollar Rate Loan. During the existence of an
Event of  Default,  the  Administrative  Agent may (and upon the  request of the
Required  Lenders shall) prohibit Loans from being requested as, Converted into,
or Continued as Eurodollar Rate Loans,  and Required Lenders may demand that any
or all of the then  outstanding  Eurodollar Rate Loans be Converted  immediately
into Base Rate Loans.

              (d) The  failure  of any Lender to make any Loan on any date shall
not relieve any other Lender of any  obligation to make a Loan on such date, but
no Lender  shall be  responsible  for the failure of any other Lender to so make
its Loan.

         2.03 Prepayments.

              (a) Upon Requisite Notice to  Administrative  Agent not later than
the  Requisite  Time  therefor,  Borrower  may at any time and from time to time
voluntarily  prepay  Loans in part in the  Minimum  Amount  therefor  or in full
without  premium or  penalty.  Administrative  Agent will  promptly  notify each
Lender  thereof  and of such  Lender's  Pro Rata Share of such  prepayment.  Any
prepayment  of a  Eurodollar  Rate  Loan  shall be  accompanied  by all  accrued
interest thereon, together with the costs set forth in Section 3.05.

              (b) If for any reason the  amount of the  Outstanding  Obligations
exceeds the combined  Commitments  from time to time in effect,  Borrower  shall
immediately prepay Loans in an aggregate amount equal to such excess.

         2.04 Reduction or Termination of Commitments.  Upon Requisite Notice to
Administrative Agent not later than the Requisite Time therefor, Borrower may at
any time and from time to time,  without  premium or  penalty,  permanently  and
irrevocably reduce the Commitments in a Minimum Amount therefor to an amount not
less than the Outstanding Obligations at such time or terminate the Commitments.
Any such reduction or termination shall be accompanied by payment of all accrued
and unpaid  facility fees with respect to the portion of the  Commitments  being
reduced or terminated. Administrative Agent shall promptly notify Lenders of any
such request for  reduction or  termination  of the  Commitments.  Each Lender's
Commitment  shall be reduced by an amount equal to such  Lender's Pro Rata Share
times the amount of such reduction.

         2.05 Principal and Interest.

              (a) Except as otherwise  provided  hereunder,  if not sooner paid,
Borrower hereby promises to pay the outstanding principal amount of each Loan on
the Maturity Date;  provided that if the outstanding  principal  balance of each
Loan is converted to a term loan pursuant to Section  2.10(d),  the  outstanding
principal amount of each Loan shall be payable on August 24, 2005.

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<PAGE>

              (b)  Subject  to  subsection  (c)  below,   and  unless  otherwise
specified  herein,  Borrower  hereby  promises  to pay  interest  on the  unpaid
principal  amount  of each Loan  (before  and after  default,  before  and after
maturity, before and after judgment and before and after the commencement of any
proceeding  under any Debtor Relief Laws) from the date  borrowed  until paid in
full (whether by acceleration or otherwise) on each Applicable Payment Date at a
rate per annum equal to the interest  rate  determined  in  accordance  with the
definition of such type of Loan,  plus,  to the extent  applicable in each case,
the Applicable Amount for such type of Loan.

              (c)  Beginning  on the date that an Event of Default  occurs under
Sections  8.01 or 8.02 and  continuing  until the date such  Event of Default no
longer exists,  Borrower hereby promises to pay interest on the unpaid principal
amount  of each  Loan  (before  or after  judgment  and  before  and  after  the
commencement of any proceeding under any Debtor Relief Laws) at a rate per annum
equal to the Default Rate. In addition,  if any amount payable by Borrower under
any Loan Document is not paid when due (without  regard to any applicable  grace
periods),  Borrower  hereby  promises to pay  interest  (after as well as before
entry of judgment  thereon to the extent  permitted  by law) on such amount at a
fluctuating  interest  rate per annum at all times equal to the Default  Rate to
the fullest extent  permitted by applicable Law.  Accrued and unpaid interest on
past due amounts (including interest on past due interest) shall be payable upon
demand.

              On any Business Day,  Borrower may call  Administrative  Agent and
request  information as to the then current  Eurodollar  Base Rate or Base Rate,
and Administrative Agent shall provide such information.

         2.06 Fees.

              (a) Facility Fee. Borrower shall pay to  Administrative  Agent for
the account of each Lender pro rata  according  to its Pro Rata Share a facility
fee  equal to the  Applicable  Amount  times  the  actual  daily  amount  of its
Commitment, regardless of usage. The facility fee shall accrue at all times from
the  Closing  Date until the  Maturity  Date and shall be payable  quarterly  in
arrears  on  each  Applicable  Payment  Date.  If  there  is any  change  in the
Applicable Amount during any quarter,  the actual daily amount shall be computed
and multiplied by the Applicable  Amount  separately for each period during such
quarter that such Applicable Amount was in effect. The facility fee shall accrue
at all times,  including  at any time  during  which one or more  conditions  in
Section 4 are not met.

              (b) Utilization Fee.  Borrower shall pay to  Administrative  Agent
for the  account of each  Lender pro rata  according  to its Pro Rata  Share,  a
utilization fee, equal to the Applicable Amount times the outstanding  principal
amount of Loans, for each day that the sum of (i) the Outstanding Obligations on
such day plus (ii) the "Outstanding Obligations," as such term is defined in the
Five-Year  Agreement,  on such day  exceeds  33% of the sum of (x) the  combined
Commitments  on such day plus (y) the  combined  "Commitments,"  as such term is
defined in the Five-Year  Agreement,  on such day. The  utilization fee shall be
payable  quarterly in arrears on each  Applicable  Payment Date. The utilization
fee shall accrue at all applicable times, including at any time during which one
or more conditions in Section 4 are not met.

              (c) Agency  Fee.  Borrower  shall pay to  Administrative  Agent an
agency fee in such  amounts and at such times as set forth in a separate  letter
agreement between Borrower and  Administrative  Agent. The agency fee is for the
services to be performed  by  Administrative  Agent in acting as  Administrative
Agent  and  is  fully  earned  on  the  date  paid.   The  agency  fee  paid  to
Administrative Agent is solely for its own account and is nonrefundable.

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<PAGE>

              (d)  Arrangement  Fee. On the Closing Date,  Borrower shall pay to
each Lead  Arranger  an  arrangement  fee in the  amount set forth in a separate
letter  agreement  among Borrower,  each Lead Arranger,  Bank of America and The
Chase Manhattan Bank. Such  arrangement fee is for the services of each Arranger
in  arranging  the credit  facilities  under this  Agreement  and the  Five-Year
Agreement and is fully earned on the date paid. The arrangement fee paid to each
Lead Arranger is solely for its own account and is nonrefundable.

              (e) Lenders' Upfront Fee. On the Closing Date,  Borrower shall pay
to  Administrative  Agent,  for the  respective  accounts  of  Lenders  pro rata
according to their  respective Pro Rata Shares,  an upfront fee in an amount set
forth in a separate letter agreement among Borrower, each Lead Arranger, Bank of
America,  and The Chase  Manhattan  Bank.  Such  upfront fees are for the credit
facilities committed by Lenders under this Agreement and are fully earned on the
date paid. The upfront fees paid to Lenders are solely for their own account and
are nonrefundable.

         2.07 Computation of Interest and Fees.  Computation of interest on Base
Rate Loans when the Base Rate is  determined  by Bank of America's  "prime rate"
shall be  calculated  on the basis of a year of 365 or 366 days, as the case may
be, and the actual  number of days  elapsed.  Computation  of all other types of
interest and all fees shall be calculated on the basis of a year of 360 days and
the actual  number of days elapsed.  Interest  shall accrue on each Loan for the
day on which the Loan is made,  and shall not accrue on a Loan,  or any  portion
thereof,  for the day on which the Loan or such portion is paid,  provided  that
any Loan that is repaid on the same day on which it is made shall bear  interest
for one day.

         2.08 Making Payments.

              (a) Except as otherwise  provided herein, all payments by Borrower
or any Lender hereunder shall be made to Administrative  Agent at Administrative
Agent's Office not later than the Requisite  Time for such type of payment.  All
payments received after such Requisite Time shall be deemed received on the next
succeeding  Business Day for purposes of the  calculation  of interest and fees,
but not for purposes of determining whether a Default has occurred. All payments
of  principal  and  interest  shall be made in  immediately  available  funds in
Dollars.  All payments by Borrower shall be made without  condition or deduction
for any counterclaim, defense, recoupment or setoff.

              (b) Upon  satisfaction of any applicable  terms and conditions set
forth herein,  Administrative  Agent shall promptly make any amounts received in
accordance with Section 2.08(a) available in like funds received as follows: (i)
if payable to Borrower,  by crediting a deposit account  designated from time to
time by  Borrower  to  Administrative  Agent by  Requisite  Notice,  and (ii) if
payable to any Lender, by wire transfer to such Lender at its Lending Office. If
such  conditions  are not so  satisfied,  Administrative  Agent shall return any
funds  it is  holding  to the  Lenders  making  such  funds  available,  without
interest.

              (c) Subject to the definition of "Interest Period," if any payment
to be made by  Borrower  shall  come due on a day  other  than a  Business  Day,
payment shall instead be considered due on the next succeeding Business Day, and
such extension of time shall be reflected in computing interest and fees.

              (d) Unless  Borrower  or any Lender  has  notified  Administrative
Agent,  prior to the Requisite Time any payment to be made by it is due, that it
does not intend to remit such payment, Administrative Agent may, in its sole and
absolute  discretion,  assume that Borrower or such Lender,  as the case may be,
has timely  remitted  such payment and may, in its sole and absolute  discretion
and in reliance thereon, make such

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                                       19

<PAGE>

payment  available to the Person  entitled  thereto.  If such payment was not in
fact remitted to Administrative Agent in immediately available funds, then:

                  (i) If Borrower failed to make such payment, each Lender shall
         forthwith  on demand repay to  Administrative  Agent the amount of such
         assumed  payment made available to such Lender,  together with interest
         thereon in respect of each day from and  including the date such amount
         was made available by  Administrative  Agent to such Lender to the date
         such  amount is repaid to  Administrative  Agent at the  Federal  Funds
         Rate; and

                  (ii) If any Lender failed to make such payment, Administrative
         Agent shall be entitled to recover such corresponding  amount on demand
         from such Lender. If such Lender does not pay such corresponding amount
         upon  Administrative  Agent's  demand  therefor,  Administrative  Agent
         promptly   shall  notify   Borrower,   and  Borrower   shall  pay  such
         corresponding amount to Administrative Agent. Administrative Agent also
         shall be entitled to recover interest on such  corresponding  amount in
         respect  of each day from the date such  corresponding  amount was made
         available  by  Administrative  Agent  to  Borrower  to  the  date  such
         corresponding  amount is recovered by  Administrative  Agent,  (A) from
         such Lender at a rate per annum equal to the  Federal  Funds Rate,  and
         (B) from  Borrower,  at a rate per  annum  equal to the  interest  rate
         applicable to such Borrowing. Nothing herein shall be deemed to relieve
         any  Lender  from  its  obligation  to  fulfill  its  Commitment  or to
         prejudice  any rights which  Administrative  Agent or Borrower may have
         against any Lender as a result of any default by such Lender hereunder.

              (e) If Administrative  Agent or any Lender is required at any time
to return to Borrower, or to a trustee, receiver,  liquidator,  custodian or any
official under any proceeding under Debtor Relief Laws, any portion of a payment
made by Borrower,  each Lender shall, on demand of Administrative  Agent, return
its share of the amount to be returned,  plus interest  thereon from the date of
such  demand to the date such  payment is made at a rate per annum  equal to the
Federal Funds Rate.

         2.09 Funding  Sources.  Nothing in this  Agreement  shall be deemed to
obligate any Lender to obtain the funds for any Loan in any particular  place or
manner or to constitute a  representation  by any Lender that it has obtained or
will obtain the funds for any Loan in any particular place or manner.

         2.10 Extension of Maturity Date.

              (a) Not  earlier  or  later  than  the  Requisite  Time  therefor,
Borrower may, upon Requisite Notice to Administrative  Agent (who shall promptly
notify  Lenders),  request an extension of the Maturity Date then in effect (the
"Extension Request").  Within 20 days of delivery of such notice but not earlier
than 30 days prior to the Maturity Date then in effect, each Lender shall notify
Administrative  Agent by  Requisite  Notice  whether or not it  consents to such
extension.  Any Lender not  responding  within  the above time  period  shall be
deemed to have not  consented  to such  extension.  Administrative  Agent  shall
promptly notify Borrower of Lenders'  responses and the aggregate  amount of the
Commitments of the Rejecting  Lenders (the "Rejected  Amount").  If the Maturity
Date is extended as provided in Section 2.10(b) and if any Lender (individually,
a "Rejecting Lender" and collectively,  the "Rejecting Lenders") declines, or is
deemed to have declined, to consent to such extension, Borrower shall cause each
Rejecting  Lender to be removed  and/or  replaced  as a Lender no later than the
Maturity Date then in effect pursuant to Section 10.21.

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<PAGE>

              (b) The  Maturity  Date then in effect  shall be extended  only if
Lenders  (the  "Accepting  Lenders")  holding  more  than  50% of  the  combined
Commitments  (the amount of which shall be calculated  prior to giving effect to
any removals or replacements of Rejecting Lenders) have consented thereto. If so
extended,  the Maturity Date then in effect shall be extended to a date 364 days
from the Maturity Date then in effect, effective as of the Maturity Date then in
effect (the "Extension  Effective  Date").  Administrative  Agent shall promptly
confirm in writing to Lenders and  Borrower  such  extension  and the  Extension
Effective  Date.  As a condition  precedent to such  extension,  Borrower  shall
deliver  to  Administrative  Agent  a  certificate  dated  as of  the  Extension
Effective  Date (in  sufficient  copies for each  Accepting  Lender) signed by a
Responsible  Officer of Borrower (i)  certifying  and attaching the  resolutions
adopted  by  Borrower  approving  or  consenting  to  such  extension  and  (ii)
certifying that, before and after giving effect to such extension, no Default or
Event of  Default  exists.  Administrative  Agent  shall  distribute  an amended
Schedule  2.01  (which  shall be deemed  incorporated  into this  Agreement)  to
reflect any changes in Lenders and their Commitments.

              (c) If the  Maturity  Date then in effect is extended  pursuant to
Section 2.10(b), Borrower shall have the right, in consultation with and through
Administrative  Agent, either prior to or within 60 days following the Extension
Effective  Date,  to request one or more  Accepting  Lenders to  increase  their
Commitments  by an  aggregate  amount not to exceed the  Rejected  Amount.  Each
Accepting  Lender  shall have the  right,  but not the  obligation,  to offer to
increase  its  Commitment  by an amount up to the amount  requested by Borrower,
which offer shall be made by notice from such Accepting Lender to Administrative
Agent not later than ten days after such  Accepting  Lender is  notified of such
request by Administrative  Agent,  specifying the amount of the offered increase
in such Accepting  Lender's  Commitment.  If the aggregate amount of the offered
increases  in the  Commitments  of all  Accepting  Lenders  does not  equal  the
Rejected Amount,  then Borrower shall have the right, prior to or within 60 days
following  the  Extension  Effective  Date,  to add one or more  banks  or other
financial  institutions,  each of which must be eligible to be an assignee under
Section 10.04, as Lenders (the  "Purchasing  Lenders") to replace such Rejecting
Lenders, which Purchasing Lenders shall have an aggregate Commitment not greater
than the Rejected  Amount less any increases in the Commitments of the Accepting
Lenders.

              (d) In the event the Maturity  Date then in effect is not extended
pursuant  to  Section   2.10(b),   Borrower  may,  upon   Requisite   Notice  to
Administrative  Agent (who shall  promptly  notify  Lenders)  not later than the
Requisite Time therefor elect to convert the outstanding principal amount of the
Loans on the Maturity Date then in effect to a term loan,  which term loan shall
be payable on August 24, 2005;  provided that such conversion shall not occur if
an Event of Default has occurred and is  continuing on the Maturity Date then in
effect.  From and after such  conversion,  such term loan shall continue to be a
Loan for purposes of this  Agreement,  except that such term loan shall not be a
revolving credit and, if prepaid, may not be reborrowed.

              (e) This section shall  supercede any  provisions in Section 10.01
to the contrary.

                                   SECTION 3.
                     TAXES, YIELD PROTECTION AND ILLEGALITY

         3.01 Taxes.

              (a) Any and all  payments  by  Borrower  to or for the  account of
Administrative  Agent or any Lender under any Loan  Document  shall be made free
and clear of and  without  deduction  for any and all  present or future  taxes,
duties, levies, imposts, deductions,  assessments, fees, withholdings or similar
charges,

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<PAGE>

and  all  liabilities   with  respect  thereto,   excluding,   in  the  case  of
Administrative  Agent and each Lender,  taxes  imposed on or measured by its net
income, and franchise taxes imposed on it, by the jurisdiction (or any political
subdivision  thereof)  under  the  Laws of  which  Administrative  Agent or such
Lender, as the case may be, is organized or maintains a Lending Office (all such
non-excluded taxes, duties,  levies,  imposts,  deductions,  assessments,  fees,
withholdings or similar charges,  and liabilities being hereinafter  referred to
as "Taxes").  If Borrower shall be required by any Laws to deduct any Taxes from
or in respect of any sum payable under any Loan Document to Administrative Agent
or any Lender, (i) the sum payable shall be increased as necessary so that after
making all required deductions  (including  deductions  applicable to additional
sums payable under this Section),  Administrative  Agent and such Lender receive
an amount equal to the sum it would have  received had no such  deductions  been
made,  (ii) Borrower  shall make such  deductions,  (iii) Borrower shall pay the
full amount  deducted to the relevant  taxation  authority or other authority in
accordance with applicable  Laws, and (iv) within 30 days after the date of such
payment,  Borrower shall furnish to Administrative  Agent (who shall forward the
same to such  Lender) the original or a certified  copy of a receipt  evidencing
payment thereof.

              (b) In  addition,  Borrower  agrees to pay any and all  present or
future stamp,  court or documentary taxes and any other excise or property taxes
or charges or similar  levies  which arise from any payment  made under any Loan
Document  or  from  the  execution,   delivery,   performance,   enforcement  or
registration  of, or otherwise  with respect to, any Loan Document  (hereinafter
referred to as "Other Taxes").

              (c) If  Borrower  shall be  required to deduct or pay any Taxes or
Other  Taxes from or in respect of any sum  payable  under any Loan  Document to
Administrative  Agent or any Lender,  Borrower shall also pay to  Administrative
Agent or such Lender such additional  amount that  Administrative  Agent or such
Lender  specifies as necessary to preserve the after-tax yield (after  factoring
in all  taxes,  including  taxes  imposed on or  measured  by net  income)  that
Administrative  Agent or such Lender would have  received if such Taxes or Other
Taxes had not been imposed.

              (d)  Borrower  agrees to indemnify  Administrative  Agent and each
Lender  for the full  amount of Taxes and Other  Taxes  (including  any Taxes or
Other Taxes  imposed or asserted by any  jurisdiction  on amounts  payable under
this  Section) paid by  Administrative  Agent and such Lender,  amounts  payable
under  Section  3.01(c) and any  liability  (including  penalties,  interest and
expenses) arising therefrom or with respect thereto.

              (e)  Notwithstanding  anything to the  contrary  contained in this
Section 3.01, all  obligations of Borrower to any Lender under this Section 3.01
shall be subject to, and  conditioned  upon such  Lender's  compliance  with its
obligations, if any, under, Section 10.20.

         3.02  Illegality.  If any Lender  determines that any Laws have made it
unlawful,  or that any Governmental  Authority has asserted that it is unlawful,
for such  Lender or its  applicable  Lending  Office to make,  maintain  or fund
Eurodollar Rate Loans,  or materially  restricts the authority of such Lender to
purchase or sell, or to take  deposits of,  Dollars in the  applicable  offshore
interbank  market,  or to  determine  or charge  interest  rates  based upon the
Eurodollar  Rate,  then,  on notice  thereof by such Lender to Borrower  through
Administrative  Agent,  the  obligation of such Lender to make  Eurodollar  Rate
Loans shall be suspended  until such Lender  notifies  Administrative  Agent and
Borrower  that the  circumstances  giving rise to such  determination  no longer
exist. Upon receipt of such notice, Borrower shall, upon demand from such Lender
(with a copy to  Administrative  Agent),  prepay or Convert all Eurodollar  Rate
Loans of such Lender,  either on the last day of the Interest Period thereof, if
such Lender may lawfully continue to maintain

                                              364-Day Revolving Credit Agreement

                                       22

<PAGE>

such Eurodollar  Rate Loans to such day, or immediately,  if such Lender may not
lawfully  continue to maintain such Eurodollar Rate Loans. Each Lender agrees to
designate a different Lending Office if such designation will avoid the need for
such notice and will not, in the good faith  judgment of such Lender,  otherwise
be materially disadvantageous to such Lender.

         3.03 Inability to Determine  Eurodollar  Rates.  If, in connection with
any Request for Extension of Credit  involving  any  Eurodollar  Rate Loan,  (a)
Administrative  Agent  determines  that (i)  deposits  in Dollars  are not being
offered to banks in the  applicable  offshore  dollar market for the  applicable
amount  and  Interest  Period  of the  requested  Eurodollar  Rate  Loan or (ii)
adequate  and  reasonable  means do not exist  for  determining  the  underlying
interest rate for such Eurodollar Rate Loan, or (b) Required  Lenders  determine
that such  underlying  interest rate does not  adequately and fairly reflect the
cost to Lenders of funding such Eurodollar Rate Loan,  Administrative Agent will
promptly notify Borrower and all Lenders.  Thereafter, the obligation of Lenders
to make  or  maintain  such  Eurodollar  Rate  Loan  shall  be  suspended  until
Administrative Agent revokes such notice. Upon receipt of such notice,  Borrower
may revoke any  pending  request for a Borrowing  of  Eurodollar  Rate Loans or,
failing  that,  be deemed to have  converted  such  request into a request for a
Borrowing of Base Rate Loans in the amount specified therein.

         3.04 Increased Cost and Reduced Return; Capital Adequacy.

              (a) If any  Lender  determines  that any Laws or  changes  therein
effective after the date hereof:

                  (i) Subject such Lender to any tax, duty, or other charge with
         respect  to any  Eurodollar  Rate  Loans  or  its  obligation  to  make
         Eurodollar  Rate Loans,  or change the basis on which taxes are imposed
         on any amounts  payable to such Lender under this  Agreement in respect
         of any Eurodollar Rate Loans;

                  (ii) Impose or modify any reserve, special deposit, or similar
         requirement  (other  than  the  reserve  requirement  utilized  in  the
         determination  of the  Eurodollar  Rate)  relating to any extensions of
         credit or other assets of, or any deposits with or other liabilities or
         commitments of, such Lender (including its Commitment); or

                  (iii)  Impose  on such  Lender  or on the  offshore  interbank
         market any other  condition  affecting  this  Agreement  or any of such
         extensions of credit or liabilities or commitments;

and the result of any of the foregoing is to increase the cost to such Lender of
making, Converting into, Continuing, or maintaining any Eurodollar Rate Loans or
to reduce any sum received or  receivable  by such Lender  under this  Agreement
with respect to any Eurodollar Rate Loans, then from time to time upon demand of
Lender (with a copy of such demand to Administrative Agent),  Borrower shall pay
to such Lender such  additional  amounts as will compensate such Lender for such
increased cost or reduction.

              (b)  If  any  Lender   determines   that  any  change  in  or  the
interpretation  of any Laws  effective  after the date hereof have the effect of
reducing the rate of return on the capital of such Lender or  compliance by such
Lender (or its Lending Office) or any corporation  controlling  such Lender as a
consequence of such Lender's  obligations  hereunder (taking into  consideration
its policies with respect to capital  adequacy and such Lender's  desired return
on  capital),  then from time to time upon demand of such Lender (with a copy to
Administrative Agent), Borrower shall pay to such Lender such additional amounts
as will compensate such Lender for such reduction.

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<PAGE>

         3.05 Breakfunding Costs. Subject to Section 3.06(a), upon demand of any
Lender (with a copy to Administrative  Agent) from time to time,  Borrower shall
promptly  compensate  such  Lender for and hold such  Lender  harmless  from any
actual loss, cost or expense incurred by it as a result of:

              (a) Any  Continuation,  Conversion,  payment or  prepayment of any
Eurodollar Rate Loan on a day other than the last day of the Interest Period for
such Eurodollar Rate Loan (whether voluntary, mandatory, automatic, by reason of
acceleration or otherwise); or

              (b) Any failure by Borrower  (for a reason  other than the failure
of such Lender to make a Eurodollar  Rate Loan) to prepay,  borrow,  Continue or
Convert  any  Eurodollar  Rate  Loan on the date or in the  amount  notified  by
Borrower;

excluding  any loss of  anticipated  profits but  including  any loss or expense
arising from the liquidation or reemployment of funds obtained by it to maintain
such Loan or from fees payable to terminate  the deposits  from which such funds
were obtained.

         3.06 Matters Applicable to all Requests for Compensation.

              (a) A certificate of  Administrative  Agent or any Lender claiming
compensation  under this Section 3 and setting  forth the  additional  amount or
amounts to be paid to it hereunder shall be conclusive in the absence of clearly
demonstrable  error;   provided  that  such  certificate  (i)  sets  forth  with
reasonable  specificity  the  calculation of the amount to be paid,  (ii) states
that   Administrative   Agent  or  such  Lender,  as  applicable,   is  treating
substantially  all similarly  situated  borrowers in a manner that is consistent
with the treatment  afforded  Borrower  hereunder,  (iii) is delivered within 90
days of the later of the date of the event giving rise to such  compensation and
the date  Administrative  Agent or such  Lender  knew or,  with the  exercise of
reasonable care,  should have known of the  requirements for such  compensation,
and (iv) confirms (in the case of a claim for compensation under Section 3.01 or
Section  3.04)  that  either a change in the  Administrative  Agent's  Office or
Lending Office, as the case may be, of  Administrative  Agent or such Lender, as
the case may be, would not have eliminated the request for  compensation or that
such change would have been otherwise disadvantageous to Administrative Agent or
such Lender, as the case may be. In determining the amount of such compensation,
Administrative  Agent  or any  Lender  may  use  any  reasonable  averaging  and
attribution methods.

              (b) Upon any Lender becoming  prohibited from making,  maintaining
or funding  Eurodollar  Rate Loans  pursuant to Section 3.02, or upon any Lender
making a claim for compensation under Section 3.01 or Section 3.04, Borrower may
remove and replace such Lender in accordance with Section 10.21.

         3.07 Survival. All of Borrower's obligations under this Section 3 shall
survive termination of the Commitments and payment in full of all Obligations.

                                   SECTION 4.
                  CONDITIONS PRECEDENT TO EXTENSIONS OF CREDIT

         4.01 Conditions  Precedent to Closing Date. This Agreement shall become
effective  and the  Closing  Date  shall  occur  when  Administrative  Agent has
received all of the agreements, documents, instruments and other items described
in this  Section  4.01 and the  other  conditions  precedent  set  forth in this
Section 4.01 have been satisfied (and on the Closing Date,  Administrative Agent
shall deliver written notice

                                              364-Day Revolving Credit Agreement

                                       24

<PAGE>

to Borrower and Lenders that such  conditions  precedent have been satisfied and
that the Closing Date has occurred,  which written notice shall be conclusive of
such occurrence):

              (a) Unless waived by all Lenders,  each of the following,  each of
which shall be originals or facsimiles  (followed  promptly by originals) unless
otherwise  specified,  each  properly  executed  by  a  Responsible  Officer  of
Borrower,  each dated on, or in the case of  third-party  certificates  recently
before,  the  Closing  Date  and  each in form  and  substance  satisfactory  to
Administrative Agent and its legal counsel:

                  (i) Executed  counterparts  of this  Agreement,  sufficient in
         number for distribution to Administrative Agent, Lenders and Borrower;

                  (ii)  Notes  executed  by  Borrower  in favor  of each  Lender
         requesting same, substantially in the form attached as Exhibit C;

                  (iii)  Such  certificates  of  resolutions  or  other  action,
         incumbency   certificates  and/or  other  certificates  of  Responsible
         Officers of Borrower as  Administrative  Agent may request to establish
         the  identities  of and  verify  the  authority  and  capacity  of each
         Responsible  Officer thereof authorized to act as a Responsible Officer
         thereof;

                  (iv) Such  evidence  as  Administrative  Agent may  request to
         verify that Borrower is duly organized or formed,  validly existing, in
         good standing and qualified to engage in business in each  jurisdiction
         in  which  it is  required  to be  qualified  to  engage  in  business,
         including  certified copies of Borrower's  certificate of incorporation
         and bylaws,  certificates  of good  standing  and/or  qualification  to
         engage in business;

                  (v) A certificate signed by a Responsible  Officer of Borrower
         certifying  (A) that the conditions  specified in Sections  4.01(c) and
         (d)  have  been  satisfied,  (B)  that  there  has  been  no  event  or
         circumstance  since the date of the Audited Financial  Statements which
         has a  Material  Adverse  Effect,  and (C) the  current  Debt  Ratings,
         together with a Compliance  Certificate  as of June 30, 2000 that gives
         effect to results of operations for the two fiscal quarter period ended
         on such date, the initial  Extension of Credit and the repayment of the
         Indebtedness to be repaid on the Closing Date;

                  (vi) An opinion of counsel to  Borrower  substantially  in the
         form of Exhibit E; and

                  (vii) Such other assurances, certificates, documents, consents
         or opinions as Administrative  Agent or Required Lenders reasonably may
         require.

              (b) Any fees  required  to be paid on or before the  Closing  Date
shall have been paid.

              (c) The representations and warranties made by Borrower herein, or
which are contained in any certificate, document or financial or other statement
furnished at any time under or in  connection  herewith or  therewith,  shall be
correct in all material respects on and as of the Closing Date.

              (d) No  Default or Event of Default  shall  have  occurred  and be
continuing.

              (e) All consents or approvals of,  filings with, and other actions
by,  any  Governmental  Authority  that are  necessary  or  appropriate  for the
execution, delivery and performance by Borrower of the Loan Documents shall have
been obtained, made or taken.

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                                       25

<PAGE>

              (f) Unless waived by  Administrative  Agent,  Borrower  shall have
paid all Attorney Costs of Administrative  Agent to the extent invoiced prior to
or on the Closing Date.

              (g)   Administrative   Agent   shall  have   received   assurances
satisfactory  to it that  provision  has  been  made  for the  repayment  of all
Indebtedness of Borrower, its Subsidiaries and its Affiliates listed on Schedule
4.01, and for the  termination of the  commitments  under the credit  facilities
listed on Schedule 4.01,  substantially  concurrently with the initial Extension
of Credit.

         4.02  Conditions  to all  Extensions  of  Credit.  In  addition  to any
applicable  conditions  precedent  set forth  elsewhere  in this Section 4 or in
Section 2, the  obligation  of each Lender to honor any Request for Extension of
Credit  (other than a Conversion  or  Continuation)  is subject to the following
conditions precedent:

              (a) The  representations  and warranties of Borrower  contained in
Sections 5.01, 5.02, and 5.03 of this Agreement shall be correct in all material
respects on and as of the date of such Extension of Credit.

              (b) No Default or Event of Default  exists,  or would  result from
such Extension of Credit or the use thereof.

              (c) Administrative  Agent shall have timely received a Request for
Extension of Credit by Requisite Notice by the Requisite Time therefor.

              (d) Such  Extension of Credit  shall be  permitted  by  applicable
Laws.

         Each Request for Extension of Credit by Borrower  shall be deemed to be
a representation and warranty that the conditions  specified in Sections 4.02(a)
and (b) have been satisfied on and as of the date of such Extension of Credit.

                                   SECTION 5.
                         REPRESENTATIONS AND WARRANTIES

         Borrower  represents and warrants to  Administrative  Agent and Lenders
that:

         5.01 Existence and Qualification;  Power; Compliance with Laws. Each of
Borrower and its Restricted  Subsidiaries  (a) is a corporation,  partnership or
limited liability company duly organized or formed, validly existing and in good
standing under the Laws of the state of its organization,  (b) has the power and
authority and the legal right to own,  lease and operate its  properties  and to
conduct its business,  (c) is duly qualified and in good standing under the Laws
of each jurisdiction  where its ownership,  lease or operation of its properties
or the conduct of its business requires such qualification, except to the extent
that  the  failure  to be so  qualified  and in good  standing  does  not have a
Material Adverse Effect,  and (d) is in compliance with all Laws,  except to the
extent that noncompliance does not have a Material Adverse Effect.

         5.02 Power;  Authorization;  Enforceable Obligations.  Borrower has the
power and authority  and the legal right to make,  deliver and perform each Loan
Document  to which it is a party  and to  borrow  hereunder  and has  taken  all
necessary  action  to  authorize  the  Extensions  of  Credit  on the  terms and
conditions  of this  Agreement  and to  authorize  the  execution,  delivery and
performance of this Agreement

                                              364-Day Revolving Credit Agreement

                                       26

<PAGE>

and the other Loan  Documents to which it is a party.  Except for such consents,
authorizations,  filings or other acts which have been duly made or obtained and
are in full force and effect,  no consent or  authorization  of, filing with, or
other  act by or in  respect  of  any  Governmental  Authority  is  required  in
connection  with the  Extensions  of  Credit  hereunder  or with the  execution,
delivery,  performance,  validity or  enforceability of this Agreement or any of
the other  Loan  Documents.  The Loan  Documents  have been  duly  executed  and
delivered by Borrower,  and constitute legal,  valid and binding  obligations of
Borrower,  enforceable  against  Borrower in  accordance  with their  respective
terms, subject to applicable bankruptcy, insolvency, reorganization,  moratorium
or other Laws  affecting  creditor's  rights  generally  and  subject to general
principles of equity, regardless of whether considered in a proceeding in equity
or at law.

         5.03 No Legal Bar. The execution, delivery, and performance by Borrower
of the Loan  Documents to which it is a party do not and will not (a) violate or
conflict  with,  or result in a breach  of, or  require  any  consent  under (i)
Borrower's  certificate of  incorporation  or bylaws,  (ii) any applicable  Laws
which  has a  Material  Adverse  Effect,  or (iii) any  Contractual  Obligation,
license or franchise  of Borrower or any of its  Restricted  Subsidiaries  or by
which  any of them or any of their  property  is bound or  subject  which  has a
Material  Adverse  Effect,  (b) constitute a default under any such  Contractual
Obligation,  license or  franchise  which has a Material  Adverse  Effect or (c)
result in, or  require,  the  creation or  imposition  of any Lien on any of the
properties  of  Borrower  or any of its  Restricted  Subsidiaries  which  is not
permitted hereby.

         5.04 Financial Statements; No Material Adverse Effect.

              (a)  The  Audited  Financial   Statements  (i)  were  prepared  in
accordance with GAAP consistently applied throughout the period covered thereby,
except as  otherwise  expressly  noted  therein,  and (ii)  fairly  present  the
financial condition of Borrower and its consolidated Subsidiaries as of the date
thereof  and their  results  of  operations  for the period  covered  thereby in
accordance with GAAP consistently applied throughout the period covered thereby,
except as otherwise expressly noted therein.

              (b) Since the date of the Audited Financial  Statements and to the
Closing  Date,  there has been no event or  circumstance  which  has a  Material
Adverse Effect.

         5.05  Litigation.  No  litigation,  investigation  or  proceeding of or
before an  arbitrator  or  Governmental  Authority  is  pending  or, to the best
knowledge  of  Borrower,  threatened  by or  against  Borrower  or  any  of  its
Restricted  Subsidiaries or against any of their  properties or revenues that is
reasonably likely to be determined  adversely,  and, if so adversely determined,
has a Material Adverse Effect.

         5.06  No  Default.   Neither   Borrower  nor  any  of  its   Restricted
Subsidiaries is in default under or with respect to any Contractual  Obligation,
license or  franchise  which has a Material  Adverse  Effect,  and no Default or
Event  of  Default  has  occurred  and is  continuing  or will  result  from the
execution and delivery of this Agreement or any of the other Loan Documents,  or
the making of the Extensions of Credit hereunder.

         5.07 Authorizations.  Borrower and its Restricted  Subsidiaries possess
all licenses, permits,  franchises,  consents,  approvals, and other authorities
required to be issued by Governmental Authorities that are necessary or required
in  the  conduct  of  their  businesses,   all  of  which  are  valid,  binding,
enforceable,  and  subsisting  without any defaults  thereunder,  other than any
failures to possess or defaults that do not have a Material Adverse Effect.

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<PAGE>

         5.08 Taxes. Borrower and its Restricted Subsidiaries have filed all tax
returns which are required to be filed, and have paid, or made provision for the
payment of, all taxes with  respect to the  periods,  property  or  transactions
covered by said returns,  or pursuant to any assessment  received by Borrower or
its affected  Restricted  Subsidiaries,  except such taxes, if any, as are being
contested  in good faith by  appropriate  proceedings  and as to which  adequate
reserves have been  established  and  maintained in accordance  with GAAP,  and,
except for the failure to file tax returns and/or to pay taxes which failures do
not, in the aggregate, have a Material Adverse Effect.

         5.09 Margin Regulations; Investment Company Act; Public Utility Holding
Company Act.

              (a) Borrower is not engaged or will engage,  principally or as one
of its important activities, in the business of extending credit for the purpose
of "purchasing" or "carrying"  "margin stock" within the respective  meanings of
each of the quoted  terms under  Regulation  U of the Board of  Governors of the
Federal Reserve System as now and from time to time hereafter in effect. No part
of the  proceeds  of any  Extensions  of  Credit  hereunder  will  be  used  for
"purchasing"  or  "carrying"  "margin  stock" as so  defined  in a manner  which
violates,  or which would be inconsistent with, the provisions of Regulations T,
U, or X of such Board of Governors.

              (b) Neither Borrower nor any of its Restricted Subsidiaries (i) is
a "holding  company," or a  "subsidiary  company" of a "holding  company," or an
"affiliate"  of a "holding  company" or of a "subsidiary  company" of a "holding
company,"  within the meaning of the Public Utility Holding Company Act of 1935,
or (ii) is or is required to be registered as an "investment  company" under the
Investment Company Act of 1940.

         5.10 ERISA Compliance.

              (a) Each Plan is in compliance  in all material  respects with the
applicable  provisions of ERISA,  the Code and other federal or state Laws. Each
Plan that is intended to qualify under Section 401(a) of the Code has received a
favorable  determination letter from the IRS or an application for such a letter
is currently  being processed by the IRS (or will be filed before the end of any
applicable  remedial  amendment  period under  Section  401(b) of the Code) with
respect  thereto and, to the best  knowledge  of Borrower,  nothing has occurred
which would prevent, or cause the loss of, such qualification. Borrower and each
ERISA  Affiliate  have made all required  contributions  to each Plan subject to
Section 412 of the Code, and no application for a funding waiver or an extension
of any  amortization  period  pursuant  to Section 412 of the Code has been made
with respect to any Plan.

              (b) There are no pending or, to the best  knowledge  of  Borrower,
threatened claims, actions or lawsuits, or action by any Governmental Authority,
with respect to any Plan that has a Material  Adverse Effect.  There has been no
non-exempt prohibited transaction (within the meaning of Section 401 of ERISA or
violation  of the  fiduciary  responsibility  rules of ERISA with respect to any
Plan that has a Material Adverse Effect.

              (c) (i) No ERISA Event has occurred or is  reasonably  expected to
occur which has a Material Adverse Effect; (ii) no Plan has any Unfunded Pension
Liability;  (iii) neither  Borrower nor any ERISA  Affiliate  has  incurred,  or
reasonably  expects to incur, any liability under Title IV of ERISA with respect
to any Plan (other than  premiums due and not  delinquent  under Section 4007 of
ERISA);  (iv)  neither  Borrower  nor  any  ERISA  Affiliate  has  incurred,  or
reasonably  expects to incur,  any liability  (and no event has occurred  which,
with the giving of notice  under  Section  4219 of ERISA,  would  result in such
liability) under

                                              364-Day Revolving Credit Agreement

                                       28

<PAGE>

Sections  4201 or 4243 of ERISA with respect to a  Multiemployer  Plan;  and (v)
neither Borrower nor any ERISA Affiliate has engaged in a transaction that could
be subject to Sections 4069 or 4212(c) of ERISA.

         5.11 Assets;  Liens.  Borrower and its Restricted  Subsidiaries own, or
possess  the  right  to  use,  all  properties  and  assets,  including  without
limitation,   trademarks,  trade  names,  copyrights,  patents,  patent  rights,
franchises,  licenses and other intangible assets,  that are used in the conduct
of their respective businesses as now operated,  and none of such properties and
assets, to the best knowledge of Borrower, conflicts with the valid ownership or
other right of use of any other Person to the extent that such failure to own or
possess or conflict has a Material  Adverse  Effect.  None of such properties or
assets is subject to any Lien, except as permitted in Section 7.01.

         5.12 Environmental Compliance. Borrower and its Restricted Subsidiaries
are  in  compliance   with   Environmental   Laws  except  to  the  extent  that
noncompliance does not have a Material Adverse Effect.

         5.13 Use of Proceeds.  Borrower  will use the proceeds of Extensions of
Credit  to  refinance  existing  Indebtedness  of  Borrower  and its  Restricted
Subsidiaries  or  Affiliates  and for  working  capital,  capital  expenditures,
commercial paper backup and other lawful corporate purposes.

         5.14 Disclosure. No statement,  information, report, representation, or
warranty  made by Borrower in any Loan  Document or furnished to  Administrative
Agent or any Lender in  connection  with any Loan  Document  contains any untrue
statement of a material fact.

                                   SECTION 6.
                              AFFIRMATIVE COVENANTS

         So long as any Obligation remains unpaid or unperformed, or any portion
of the Commitments remains outstanding, Borrower shall, and shall (except in the
case of Borrower's reporting covenants), cause each Restricted Subsidiary to:

         6.01 Financial Statements. Deliver to Administrative Agent and Lenders,
in form and detail satisfactory to Administrative Agent:

              (a) As soon as  available,  but in any event within 105 days after
the end of each  fiscal  year of  Borrower,  a  consolidated  balance  sheet  of
Borrower and its  consolidated  Subsidiaries  as at the end of such fiscal year,
and the related consolidated statements of income and cash flows for such fiscal
year,  setting  forth  in each  case in  comparative  form the  figures  for the
previous  fiscal year, all in reasonable  detail,  audited and  accompanied by a
report and opinion of  independent  certified  public  accountants of nationally
recognized standing reasonably  acceptable to Administrative Agent, which report
and opinion shall not be subject to any  qualifications  or exceptions as to the
scope of the  audit  nor to any  qualifications  or  exceptions  not  reasonably
acceptable to Administrative Agent; and

              (b) As soon as  available,  but in any event  within 60 days after
the end of each of the  first  three  fiscal  quarters  of each  fiscal  year of
Borrower,  a  consolidated  balance  sheet  of  Borrower  and  its  consolidated
Subsidiaries as at the end of such fiscal quarter,  and the related consolidated
statements of income and cash flows for such fiscal  quarter and for the portion
of Borrower's fiscal year then ended,  setting forth in each case in comparative
form the figures for the  corresponding  fiscal  quarter of the previous  fiscal
year  and  the  corresponding  portion  of  the  previous  fiscal  year,  all in
reasonable detail and certified by a Responsible

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Officer of Borrower as fairly  presenting  the financial  condition,  results of
operations  and cash flows of  Borrower  and its  consolidated  Subsidiaries  in
accordance with GAAP,  subject only to pro forma adjustments and normal year-end
audit adjustments.

         6.02   Certificates,   Notices  and  Other   Information.   Deliver  to
Administrative  Agent in form and detail  satisfactory to Administrative  Agent,
with sufficient copies for each Lender:

              (a) No later  than  the  date  required  for the  delivery  of the
financial  statements  referred to in Sections  6.01(a) and (b) a duly completed
Compliance  Certificate  signed by a  Responsible  Officer  of  Borrower,  which
Compliance  Certificate shall set forth the necessary adjustments to exclude the
Indebtedness  and  EBITDA  attributed  to  Unrestricted  Subsidiaries  from  the
calculations  set forth  therein and shall give pro forma effect (in  accordance
with  Section  1.07) to  Material  Acquisitions  and  Material  Dispositions  in
accordance with Section 1.07;

              (b) Promptly after the same are  available,  copies of all annual,
regular, periodic and special reports and registration statements which Borrower
may file or be  required to file with the  Securities  and  Exchange  Commission
under  Sections  13 or 15(d) of the  Securities  Exchange  Act of 1934,  and not
otherwise required to be delivered to Administrative Agent pursuant hereto;

              (c) Promptly after Borrower obtaining  knowledge of the occurrence
thereof, notice of any Default or Event of Default specifying the nature thereof
and what action  Borrower has taken,  is taking or proposes to take with respect
thereto;

              (d)   Promptly   after   Borrower   obtaining   knowledge  of  the
commencement  thereof,  notice of any  litigation,  investigation  or proceeding
affecting  Borrower  or any of its  Restricted  Subsidiaries  where  the  amount
involved exceeds the Threshold  Amount, or in which injunctive relief or similar
relief is sought, which relief, if granted, has a Material Adverse Effect;

              (e) Promptly after Borrower obtaining  knowledge of the occurrence
thereof, notice of any ERISA Event;

              (f)   Promptly   after   Borrower   obtaining   knowledge  of  the
announcement thereof, notice of any announcement by Moody's or S&P of any change
in a Debt Rating; and

              (g) Promptly after such request,  such other data and  information
as from time to time may be reasonably  requested by Administrative Agent or any
Lender through Administrative Agent.

         6.03  Payment  of  Taxes.   Pay  and  discharge  when  due  all  taxes,
assessments and governmental charges or levies imposed on it or on its income or
profits or any of its property,  except for any such tax, assessment,  charge or
levy which is being contested in good faith and by appropriate  proceedings,  if
adequate reserves with respect thereto are maintained on its books in accordance
with GAAP,  and except,  for such  payments  which,  if not paid,  do not in the
aggregate, have a Material Adverse Effect.

         6.04  Preservation  of Existence.  Preserve and maintain its existence,
licenses,  permits, rights,  franchises and privileges necessary or desirable in
the normal conduct of its business,  except where failure to do so does not have
a Material  Adverse  Effect,  and except that nothing in this Section 6.04 shall
prohibit any transaction permitted by Section 7.03.

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<PAGE>

         6.05 Maintenance of Properties.  Maintain,  preserve and protect all of
its material properties and equipment necessary in the operation of its business
in good order and condition,  subject to wear and tear in the ordinary course of
business,  except  to the  extent  that  the  failure  to do so does  not have a
Material Adverse Effect.

         6.06  Maintenance  of  Insurance.   Maintain   liability  and  casualty
insurance  with  financially  sound  and  reputable   insurance   companies  not
Affiliates  of Borrower in such amounts with such  deductibles  and against such
risks as is customary for similarly  situated  businesses,  except to the extent
Borrower or such Restricted Subsidiary maintains reasonable  self-insurance with
respect to such risks.

         6.07 Compliance With Laws.

              (a) Comply with the requirements of all applicable Laws and orders
of any Governmental  Authority,  noncompliance with which has a Material Adverse
Effect.

              (b) Conduct its  operations  and keep and maintain its property in
compliance with all Environmental Laws,  noncompliance with which has a Material
Adverse Effect.

         6.08 Inspection Rights. At any time during regular business hours, upon
reasonable notice, and as often as reasonably requested,  but subject to Section
10.17,  permit  Administrative  Agent or any Lender,  or any employee,  agent or
representative  thereof,  to examine  (and during the  existence  of an Event of
Default,  make  copies and  abstracts  from) the records and books of account of
Borrower  and  its  Restricted  Subsidiaries  and to  visit  and  inspect  their
properties and to discuss their affairs, finances and accounts with any of their
officers and key employees.

         6.09 Keeping of Records and Books of Account. Keep adequate records and
books of account  reflecting all material  financial  transactions in conformity
with GAAP,  consistently applied, and in material conformity with all applicable
requirements of any Governmental  Authority having regulatory  jurisdiction over
Borrower or the applicable Restricted Subsidiary.

         6.10  Compliance  with  ERISA.  Cause,  and  cause  each  of its  ERISA
Affiliates to (a) maintain each Plan in compliance in all material respects with
the applicable provisions of ERISA, the Code and other federal or state law; (b)
cause each Plan which is qualified  under Section 401(a) of the Code to maintain
such qualification;  and (c) make all required contributions to any Plan subject
to Section 412 of the Code;  provided  that this Section 6.10 shall not prohibit
Borrower  and its  ERISA  Affiliates  from  terminating  any Plan to the  extent
permitted by ERISA,  the Code, and other  applicable law or if such  termination
does not have a Material Adverse Effect.

         6.11  Compliance  With  Agreements.  Promptly and fully comply with all
Contractual  Obligations to which any one or more of them is a party, except for
any such  Contractual  Obligations  (a) then being  contested  or intended to be
timely contested by any of them in good faith by appropriate proceedings, or (b)
the failure to comply with which does not have a Material Adverse Effect.

         6.12 Use of  Proceeds.  Use the  proceeds  of  Extensions  of Credit as
represented herein.

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<PAGE>

         6.13  Designation of Unrestricted  Companies.  So long as no Default or
Event of Default exists or arises as a result thereof, Borrower may from time to
time  designate  a  Restricted  Subsidiary  as  an  Unrestricted  Subsidiary  or
designate an Unrestricted  Subsidiary as a Restricted Subsidiary;  provided that
Borrower shall (a) provide  Administrative  Agent written  notification  of such
designation prior to or concurrently therewith, and (b) if such designation is a
Material  Acquisition  (in  the  case  of  the  designation  of an  Unrestricted
Subsidiary as a Restricted Subsidiary) or a Material Disposition (in the case of
the  designation  of a Restricted  Subsidiary  as an  Unrestricted  Subsidiary),
within 10 Business Days after such notification, deliver to Administrative Agent
a  certificate,   in  form  reasonably   acceptable  to  Administrative   Agent,
demonstrating  pro-forma  compliance  (in  accordance  with  Section  1.07) with
Section 7.07 immediately prior to and after giving effect to such designation.

                                   SECTION 7.
                               NEGATIVE COVENANTS

         So long as any Obligations remain unpaid or unperformed, or any portion
of the Commitments remains outstanding:

         7.01  Liens.  Borrower  shall not,  nor shall it permit any  Restricted
Subsidiary to,  directly or indirectly,  incur,  assume or suffer to exist,  any
Lien  upon  any of its  property,  assets  or  revenues,  whether  now  owned or
hereafter acquired, except:

              (a) Liens pursuant to any Loan Document;

              (b) Liens (other than those to be discharged  in  connection  with
the repayment of the  Indebtedness  described on Schedule  4.01) existing on the
date  hereof  securing  Indebtedness  which does not exceed  $50,000,000  in the
aggregate  (which,  in the case of any such Lien  securing  Indebtedness  in the
amount of $100,000 or more,  is listed on Schedule  7.01),  and any  renewals or
extensions thereof, provided that such Liens are not extended to cover any other
property, assets or revenues;

              (c) Liens for  taxes not yet due or which are being  contested  in
good faith and by  appropriate  proceedings,  if adequate  reserves with respect
thereto are maintained on the books of the  applicable  Person or such Liens are
otherwise permitted under Section 6.03;

              (d)   Carriers',   warehousemen's,    mechanics',   materialmen's,
repairmen's or other like Liens arising in the ordinary course of business which
are not overdue  for a period of more than 30 days or which are being  contested
or intended to be timely contested in good faith and by appropriate proceedings;

              (e) Pledges or deposits in connection with worker's  compensation,
unemployment insurance and other social security legislation;

              (f) Deposits to secure the  performance of bids,  trade  contracts
(other than for  borrowed  money),  leases,  statutory  obligations,  surety and
appeal bonds,  performance bonds and other obligations of a like nature incurred
in the ordinary course of business;

              (g)  Easements,  rights-of-way,  restrictions  and  other  similar
encumbrances affecting real property which do not in any case materially detract
from the value of the property subject thereto or materially  interfere with the
ordinary conduct of the business of the applicable Person;

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<PAGE>

              (h)  Attachment,  judgment  or  other  similar  Liens  arising  in
connection  with  litigation  or other legal  proceedings  (and not  otherwise a
Default  hereunder)  that  are  currently  being  contested  in  good  faith  by
appropriate  proceedings or are intended to be timely contested in good faith by
appropriate   proceedings,   if  adequate  reserves  with  respect  thereto  are
maintained on the books of the applicable Person;

              (i) Liens in favor of Borrower or any Restricted Subsidiary;

              (j) Liens on "margin  stock" (as  defined in  Regulation  U of the
Board of Governors of the Federal Reserve System).

              (k) Liens on property acquired (by purchase,  merger or otherwise)
after the date  hereof,  existing at the time of  acquisition  thereof  (but not
created  in  anticipation  thereof),  or  placed  thereon  (at the  time of such
acquisition  or within 180 days of such  acquisition  to secure a portion of the
purchase price thereof),  and any renewals or extensions thereof, so long as the
Indebtedness  secured thereby is permitted  hereby;  provided that such Liens do
not and are not extended to cover any other property;

              (l) Liens under  Sale-Leaseback  Transactions and other Liens, and
any renewals or extensions thereof, so long as the Indebtedness  secured thereby
does not exceed $500,000,000 in the aggregate; and

              (m) Liens not otherwise  permitted  hereby which do not secure any
Indebtedness.

         7.02  Subsidiary  Indebtedness.  Borrower  shall not  permit any of its
Restricted  Subsidiaries  to  create,  incur,  assume  or  permit  to exist  any
Indebtedness, except:

              (a) Indebtedness  existing on the date hereof, which, for all such
Indebtedness  other than any  Indebtedness  which is less than  $1,000,000 on an
individual  basis, is set forth on Schedule 7.02, and  extensions,  renewals and
replacements of such Indebtedness that do not increase the outstanding principal
amount thereof;

              (b)  Indebtedness of any Restricted  Subsidiary to Borrower or any
other Restricted Subsidiary; and

              (c)  Other  Indebtedness  in an  aggregate  principal  amount  not
exceeding $750,000,000 at any time.

         7.03  Fundamental   Changes.  (a)  Borrower  shall  not  (A)  merge  or
consolidate with or into any Person or (B) liquidate, wind-up or dissolve itself
or (C) sell,  transfer  or dispose of all or  substantially  all of its  assets,
provided,  nothing in this Section 7.03 shall be construed to prohibit  Borrower
from reincorporating in another jurisdiction,  changing its form of organization
or merging  into, or  transferring  all or  substantially  all of its assets to,
another Person so long as

                           (i) either (x) Borrower shall be the surviving entity
                  with substantially the same assets  immediately  following the
                  reincorporation  or reorganization or (y) the surviving entity
                  or transferee (the "Successor Corporation") shall, immediately
                  following the merger or transfer, as the case may be, (A) have
                  substantially  all  of  the  assets  of  Borrower  immediately
                  preceding the merger or transfer, as the case may be, (B) have
                  duly assumed all of Borrower's obligations hereunder and under
                  the other Loan Documents in form and

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<PAGE>

                  substance   satisfactory  to  Administrative  Agent  (and,  if
                  requested by Administrative  Agent, the Successor  Corporation
                  shall  have   delivered  an  opinion  of  counsel  as  to  the
                  assumption  of such  obligations)  and  (C)  either  (I)  have
                  then-effective  ratings  (or  implied  ratings)  published  by
                  Moody's  or S&P  applicable  to such  Successor  Corporation's
                  senior,    unsecured,    non-credit-   enhanced,   long   term
                  indebtedness for borrowed money, which ratings shall be either
                  Baa3 or higher (if  assigned by Moody's) or BBB- or higher (if
                  assigned by S&P) or (II) be  acceptable  to Required  Lenders;
                  and

                           (ii)   immediately   after  giving   effect  to  such
                  transaction no Default or Event of Default shall have occurred
                  and be continuing.

                  (b)  Borrower  and its  Restricted  Subsidiaries,  taken  as a
         whole,  shall  continue  to  maintain  cable and  other  communications
         businesses as its primary lines of business.

         7.04  ERISA.  Borrower  shall not,  nor shall it permit any  Restricted
Subsidiary to, directly or indirectly, at any time engage in a transaction which
could be subject to Sections 4069 or 4212(c) of ERISA, or permit any Plan to (a)
engage in any non-exempt "prohibited transaction" (as defined in Section 4975 of
the Code);  (b) fail to comply with ERISA or any other  applicable  Laws; or (c)
incur any material  "accumulated  funding deficiency" (as defined in Section 302
of ERISA);  which,  with respect to each event  described in clauses (a), (b) or
(c) above, has a Material Adverse Effect.

         7.05  Limitations  on  Upstreaming.  Borrower  shall not,  nor shall it
permit  any  Restricted  Subsidiary  to,  directly  or  indirectly  agree to any
restriction  or  limitation  on the making of  dividends or  distributions,  the
repaying of loans or advances or the  transferring of assets from any Restricted
Subsidiary  to  Borrower  or  any  other  Restricted   Subsidiary,   except  (a)
restrictions  and  limitations  imposed  by Law or by the  Loan  Documents,  (b)
customary  restrictions and limitations  contained in agreements relating to the
sale of a Subsidiary or its assets that is permitted hereunder and (c) any other
restrictions that could not reasonably be expected to impair Borrower's  ability
to repay the Obligations as and when due.

         7.06 Margin  Regulations.  Borrower  shall not, nor shall it permit any
Restricted  Subsidiary  to,  directly  or  indirectly,  use the  proceeds of any
Extensions of Credit hereunder for "purchasing" or "carrying" "margin stock" (as
such terms are defined in  Regulation U of the Board of Governors of the Federal
Reserve System),  if such use would violate,  or would be inconsistent with, the
provisions of Regulations T, U, or X of such Board of Governors.

         7.07 Financial Covenants.

              (a)  Interest  Coverage  Ratio.  Borrower  shall  not  permit  the
Interest  Coverage  Ratio as of the end of any fiscal  quarter of Borrower to be
less than 2.5 to 1.0; and

              (b) Leverage  Ratio.  Borrower shall not permit the Leverage Ratio
of Borrower to be greater than 5.50 to 1.0 at any time.

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<PAGE>

                                   SECTION 8.
                         EVENTS OF DEFAULT AND REMEDIES

         8.01 Events of Default.  Any one or more of the following  events shall
constitute an Event of Default:

              (a)  Borrower  fails  to pay  any  principal  on  any  Outstanding
Obligation (other than fees) on the date when due; or

              (b)  Borrower  fails  to  pay  any  interest  on  any  Outstanding
Obligation,  or any facility or  utilization  fees,  within three days after the
date  when  due;  or  fails  to  pay  any  other  fees  or  amount   payable  to
Administrative  Agent or any Lender  under any Loan  Document  within  five days
after the date when due or, if applicable,  after demand is made for the payment
thereof; or

              (c) Any default  occurs in the  observance or  performance  of any
agreement contained in Section 6.02(c), 6.12, 7.03 or 7.07; or

              (d)  Borrower  fails to perform or observe  any other  covenant or
agreement (not specified in subsections  (a), (b) or (c) above) contained in any
Loan Document on its part to be performed or observed and such failure continues
for 30 days after notice  thereof to Borrower from  Administrative  Agent or any
Lender; or

              (e) Any  representation  or warranty by Borrower in this Agreement
or any  Compliance  Certificate  proves to have been  incorrect  in any material
respect when made or deemed made; or

              (f) (i) Borrower  (x) defaults in any payment when due  (including
any stated grace periods) of principal of or interest on any  Indebtedness(other
than the  Obligations)  having an  aggregate  principal  amount in excess of the
Threshold  Amount or (y) defaults in the  observance or performance of any other
agreement or condition relating to any Indebtedness (other than the Obligations)
or contained in any  instrument  or agreement  evidencing,  securing or relating
thereto,  or any other event shall occur,  the effect of which  default or other
event (after giving effect to any applicable  stated grace periods) is to cause,
or to permit the holder or holders of such  Indebtedness  (or a trustee or agent
on behalf of such holder or holders or beneficiary or  beneficiaries)  to cause,
with the  giving  of  notice  if  required,  Indebtedness  having  an  aggregate
principal  amount in excess of the Threshold Amount to be demanded or become due
(automatically or otherwise) or to become subject to mandatory  redemption prior
to its stated  maturity,  or any  Guaranty  Obligation  in such amount to become
payable or cash collateral in respect  thereof to be demanded  (provided that to
the extent that any  default  referred to in the  preceding  provisions  of this
Section  8.01(f)  is  cured  or  duly  waived  by the  required  holders  of the
applicable  Indebtedness,  such  default  shall  cease to be an Event of Default
hereunder,  unless  and  except  to the  extent  that  Administrative  Agent has
theretofore  exercised remedies hereunder pursuant to Section 8.02), or Borrower
is unable or admits in writing its inability to pay its debts as they mature; or

              (g) Any  Loan  Document,  at any  time  after  its  execution  and
delivery and for any reason other than the agreement of Required  Lenders or all
Lenders,  as may be  required  hereunder,  or  satisfaction  in  full of all the
Obligations,  ceases to be in full force and effect or is declared by a court of
competent  jurisdiction  to be null and void,  invalid or  unenforceable  in any
material  respect;  or Borrower  denies that it has any or further  liability or
obligation under any Loan Document, or purports to revoke,  terminate or rescind
any Loan Document; or

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<PAGE>

              (h) (i) A final non-appealable judgment against Borrower or any of
its  Significant  Subsidiaries is entered for the payment of money (which is not
covered by  insurance) in excess of the Threshold  Amount,  or any  non-monetary
final  judgment  is  entered   against   Borrower  or  any  of  its  Significant
Subsidiaries which has a Material Adverse Effect if, in each case, such judgment
remains  unsatisfied  without  procurement  of a stay  of  execution  for (A) 30
calendar days after the date of entry of such judgment or, (B) if earlier,  five
days  prior  to the date of any  possible  execution  sale,  or (ii) any writ or
warrant  of  attachment  or  execution  or  similar  process is issued or levied
against all or any  material  part of the property of any such Person and is not
released,  vacated,  stayed or fully  bonded  within 30 calendar  days after its
issue or levy; or

              (i) Borrower or any of its Significant  Subsidiaries institutes or
consents to the institution of any proceeding under Debtor Relief Laws, or makes
an assignment  for the benefit of  creditors;  or applies for or consents to the
appointment  of  any  receiver,  trustee,  custodian,  conservator,  liquidator,
rehabilitator  or similar  officer for it or for all or any material part of its
property;  or  any  receiver,  trustee,  custodian,   conservator,   liquidator,
rehabilitator or similar officer is appointed without the application or consent
of that Person and the  appointment  continues  undischarged  or unstayed for 60
calendar days; or any  proceeding  under Debtor Relief Laws relating to any such
Person or to all or any part of its property is  instituted  without the consent
of that Person and continues undismissed or unstayed for 60 calendar days, or an
order for relief is entered in any such proceeding; or

              (j) There occurs any Change of Control.

         8.02 Remedies Upon Event of Default.  Without limiting any other rights
or remedies of  Administrative  Agent or Lenders  provided for elsewhere in this
Agreement,  or the other Loan Documents,  or by applicable Law, or in equity, or
otherwise:

              (a) Upon the occurrence, and during the continuance,  of any Event
of  Default  other  than an Event  of  Default  described  in  Section  8.01(i),
Administrative Agent may (and, subject to the terms of Section 9, shall upon the
request of Required Lenders) terminate the Commitments and/or declare all or any
part of the unpaid  principal  of all Loans,  all  interest  accrued  and unpaid
thereon and all other amounts payable under the Loan Documents to be immediately
due and  payable,  whereupon  the same shall become and be  immediately  due and
payable,  without protest,  presentment,  notice of dishonor,  demand or further
notice of any kind, all of which are expressly waived by Borrower.

              (b) Upon the  occurrence  of any  Event of  Default  described  in
Section 8.01(i):

                  (i)   The   Commitments   and   all   other   obligations   of
         Administrative  Agent or Lenders shall automatically  terminate without
         notice to or  demand  upon  Borrower,  which  are  expressly  waived by
         Borrower; and

                  (ii) The unpaid  principal of all Loans,  all interest accrued
         and  unpaid  thereon  and all  other  amounts  payable  under  the Loan
         Documents  shall  be  immediately  due and  payable,  without  protest,
         presentment,  notice of dishonor, demand or further notice of any kind,
         all of which are expressly waived by Borrower.

              (c) Upon the  occurrence  of any Event of Default,  Administrative
Agent may proceed to protect,  exercise and enforce against  Borrower the rights
and remedies of  Administrative  Agent and Lenders under the Loan  Documents and
such other rights and remedies as are provided by Law or equity.

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<PAGE>

              (d) The  order  and  manner in which  Administrative  Agent's  and
Lenders'  rights  and  remedies  are to be  exercised  shall  be  determined  by
Administrative  Agent or Required Lenders in their sole and absolute discretion.
Regardless  of how a  Lender  may  treat  payments  for the  purpose  of its own
accounting,  for the purpose of computing the  Obligations  hereunder,  payments
received  during the existence of an Event of Default shall be applied first, to
costs and expenses (including  Attorney Costs) incurred by Administrative  Agent
and each  Lender (to the extent  that each  Lender has a right to  reimbursement
thereof pursuant to the Loan Documents),  second,  to the payment of accrued and
unpaid   interest  on  the  Obligations  to  and  including  the  date  of  such
application,  third,  to the payment of, or as cash  collateral  for, the unpaid
principal of the  Obligations,  and fourth,  to the payment of all other amounts
(including fees) then owing to  Administrative  Agent and Lenders under the Loan
Documents,  in each  case paid pro rata to each  Lender in the same  proportions
that the aggregate Obligations owed to each Lender under the Loan Documents bear
to the  aggregate  Obligations  owed under the Loan  Documents  to all  Lenders,
without  priority or preference  among Lenders.  No application of payments will
cure any Event of Default, or prevent acceleration,  or continued  acceleration,
of amounts  payable  under the Loan  Documents,  or  prevent  the  exercise,  or
continued  exercise,  of rights or remedies of Administrative  Agent and Lenders
hereunder or thereunder, at Law or in equity.

                                   SECTION 9.
                              ADMINISTRATIVE AGENT

         9.01 Appointment and Authorization of Administrative Agent. Each Lender
hereby irrevocably (subject to Section 9.09) appoints, designates and authorizes
Administrative  Agent to take such action on its behalf under the  provisions of
this  Agreement  and each other Loan  Document  and to exercise  such powers and
perform  such  duties  as are  expressly  delegated  to it by the  terms of this
Agreement  or  any  other  Loan  Document,  together  with  such  powers  as are
reasonably  incidental  thereto.  Notwithstanding  any provision to the contrary
contained   elsewhere  in  this   Agreement  or  in  any  other  Loan  Document,
Administrative Agent shall not have any duties or responsibilities, except those
expressly set forth herein, nor shall  Administrative Agent have or be deemed to
have any fiduciary  relationship with any Lender or participant,  and no implied
covenants, functions, responsibilities, duties, obligations or liabilities shall
be read into this  Agreement  or any other  Loan  Document  or  otherwise  exist
against  Administrative  Agent. Without limiting the generality of the foregoing
sentence,  the use of the term  "agent"  in this  Agreement  with  reference  to
Administrative  Agent is not intended to connote any  fiduciary or other implied
(or express)  obligations  arising under agency  doctrine of any applicable law.
Instead,  such term is used merely as a matter of market custom, and is intended
to create or reflect only an  administrative  relationship  between  independent
contracting parties.

         9.02 Delegation of Duties.  Administrative Agent may execute any of its
duties  under this  Agreement or any other Loan  Document by or through  agents,
employees  or  attorneys-in-fact  and shall be  entitled  to  advice of  counsel
concerning all matters pertaining to such duties. Administrative Agent shall not
be responsible for the negligence or misconduct of any agent or attorney-in-fact
that it selects in the absence of gross negligence or willful misconduct.

         9.03 Liability of Administrative Agent. No Administrative Agent-Related
Person shall (i) be liable for any action taken or omitted to be taken by any of
them under or in  connection  with this  Agreement or any other Loan Document or
the  transactions  contemplated  hereby (except for its own gross  negligence or
willful misconduct in connection with its duties expressly set forth herein), or
(ii) be responsible in any manner to any Lender or participant  for any recital,
statement,  representation  or warranty made by Borrower or any officer thereof,
contained  in  this  Agreement  or  in  any  other  Loan  Document,  or  in  any
certificate,

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<PAGE>

report,  statement or other document referred to or provided for in, or received
by Administrative Agent under or in connection with, this Agreement or any other
Loan Document, or the validity,  effectiveness,  genuineness,  enforceability or
sufficiency of this Agreement or any other Loan Document,  or for any failure of
Borrower  or any other party to any Loan  Document  to perform  its  obligations
hereunder or thereunder.  No Administrative  Agent-Related Person shall be under
any obligation to any Lender or participant to ascertain or to inquire as to the
observance or performance  of any of the agreements  contained in, or conditions
of, this  Agreement or any other Loan  Document,  or to inspect the  properties,
books or records of Borrower or any Subsidiary or Affiliate thereof.

         9.04 Reliance by Administrative Agent.

              (a)  Administrative  Agent shall be entitled to rely, and shall be
fully  protected  in  relying,  upon  any  writing,  communication,   signature,
resolution,  representation,  notice, consent,  certificate,  affidavit, letter,
telegram,  facsimile, telex or telephone message, statement or other document or
conversation  believed by it to be genuine and correct and to have been  signed,
sent or made by the proper Person or Persons,  and upon advice and statements of
legal counsel (including counsel to Borrower), independent accountants and other
experts selected by Administrative  Agent.  Administrative  Agent shall be fully
justified  in failing or  refusing  to take any action  under any Loan  Document
unless it shall first receive such advice or concurrence of Required  Lenders or
all Lenders as it deems  appropriate  and, if it so requests,  it shall first be
indemnified  to its  satisfaction  by Lenders  against any and all liability and
expense  which may be incurred by it by reason of taking or  continuing  to take
any such action.  Administrative  Agent shall in all cases be fully protected in
acting,  or in refraining  from acting,  under this  Agreement or any other Loan
Document  in  accordance  with a request or consent of  Required  Lenders or all
Lenders, if required hereunder, and such request and any action taken or failure
to act  pursuant  thereto  shall be binding  upon all Lenders and  participants.
Where this Agreement  expressly  permits or prohibits an action unless  Required
Lenders  or  all  Lenders  otherwise  determine,  and in  all  other  instances,
Administrative   Agent  may,  but  shall  not  be  required  to,   initiate  any
solicitation for the consent or a vote of Lenders.

              (b) For purposes of  determining  compliance  with the  conditions
specified  in  Section  4.01,   absent   Requisite  Notice  by  such  Lender  to
Administrative  Agent to the  contrary,  each  Lender  shall be  deemed  to have
consented  to,  approved or accepted or to be satisfied  with,  each document or
other  matter  either sent by  Administrative  Agent to each Lender for consent,
approval,  acceptance or satisfaction, or required thereunder to be consented to
or approved by or acceptable or satisfactory to a Lender.

         9.05  Notice of  Default.  Administrative  Agent shall not be deemed to
have  knowledge or notice of the  occurrence of any Default or Event of Default,
except with respect to defaults in the payment of  principal,  interest and fees
required to be paid to Administrative  Agent for the account of Lenders,  unless
Administrative  Agent  shall  have  received  written  notice  from a Lender  or
Borrower  referring  to this  Agreement,  describing  such  Default  or Event of
Default and stating  that such notice is a "notice of  default."  Administrative
Agent will  notify  Lenders of its  receipt of any such  notice.  Administrative
Agent shall take such action with respect to such Default or Event of Default as
may be directed by Required  Lenders in  accordance  with  Section 8;  provided,
however,  that  unless  and until  Administrative  Agent has  received  any such
direction,  Administrative  Agent may (but shall not be obligated  to) take such
action,  or refrain  from taking such  action,  with  respect to such Default or
Event of Default as it shall deem advisable or in the best interest of Lenders.

         9.06 Credit  Decision;  Disclosure  of  Information  by  Administrative
Agent.   Each  Lender  and  participant   acknowledges  that  no  Administrative
Agent-Related  Person has made any representation or

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<PAGE>

warranty  to it,  and that no act by  Administrative  Agent  hereinafter  taken,
including  any  consent to and  acceptance  of any  assignment  or review of the
affairs of Borrower or any of its Subsidiaries or Affiliates, shall be deemed to
constitute any  representation or warranty by any  Administrative  Agent-Related
Person  to any  Lender  or  participant  as to  any  matter,  including  whether
Administrative  Agent-Related  Persons have  disclosed  material  information in
their  possession.  Each Lender,  including any Lender by  assignment,  and each
participant  represents to Administrative  Agent that it has,  independently and
without reliance upon any Administrative  Agent-Related Person and based on such
documents and information as it has deemed  appropriate,  made its own appraisal
of  and  investigation  into  the  business,  prospects,  operations,  property,
financial  and  other  condition  and   creditworthiness  of  Borrower  and  its
Subsidiaries and Affiliates, and all applicable bank regulatory laws relating to
the transactions  contemplated  hereby,  and made its own decision to enter into
this  Agreement  and to extend  credit to  Borrower  hereunder.  Each Lender and
participant  also represents that it will,  independently  and without  reliance
upon any  Administrative  Agent-Related  Person and based on such  documents and
information as it shall deem  appropriate at the time,  continue to make its own
credit  analysis,  appraisals and decisions in taking or not taking action under
this Agreement and the other Loan Documents,  and to make such investigations as
it deems necessary to inform itself as to the business,  prospects,  operations,
property, financial and other condition and creditworthiness of Borrower and its
Subsidiaries  and  Affiliates.  Except for notices,  reports and other documents
expressly  required to be  furnished to Lenders by  Administrative  Agent herein
(which  shall  include the  notices,  reports and other  documents  described in
Section 6.02), Administrative Agent shall not have any duty or responsibility to
provide  any  Lender  or  participant  with  any  credit  or  other  information
concerning the business,  prospects,  operations,  property, financial and other
condition  or  creditworthiness  of  Borrower  or  any of  its  Subsidiaries  or
Affiliates   which  may  come  into  the   possession   of  any   Administrative
Agent-Related Person.

         9.07  Indemnification  of  Administrative  Agent.  Whether  or not  the
transactions  contemplated hereby are consummated,  Lenders shall indemnify upon
demand each Administrative Agent-Related Person (to the extent not reimbursed by
or on behalf of Borrower and without  limiting the  obligation of Borrower to do
so), pro rata, and hold harmless each Administrative  Agent-Related  Person from
and  against  any and all  Indemnified  Liabilities  incurred  by it;  provided,
however,  that no Lender  shall be liable for the payment to any  Administrative
Agent-Related  Person of any portion of such Indemnified  Liabilities  resulting
from such Person's gross negligence or willful  misconduct;  provided,  however,
that no action taken in accordance with the directions of Required Lenders shall
be deemed to constitute gross  negligence or willful  misconduct for purposes of
this Section.  Without limitation of the foregoing,  each Lender shall reimburse
Administrative  Agent  upon  demand  for  its  ratable  share  of any  costs  or
out-of-pocket  expenses  (including  Attorney Costs) incurred by  Administrative
Agent in connection with the preparation,  execution, delivery,  administration,
modification,  amendment or enforcement  (whether  through  negotiations,  legal
proceedings  or  otherwise)  of,  or  legal  advice  in  respect  of  rights  or
responsibilities under, this Agreement, any other Loan Document, or any document
contemplated by or referred to herein, to the extent that  Administrative  Agent
is not reimbursed for such expenses by or on behalf of Borrower. The undertaking
in this Section shall survive the payment of all  Obligations  hereunder and the
resignation of Administrative Agent.

         9.08 Administrative Agent in Individual  Capacity.  Bank of America and
its  Affiliates  may make loans to, issue  letters of credit for the account of,
accept deposits from,  acquire equity  interests in and generally  engage in any
kind of banking, trust, financial advisory,  underwriting or other business with
Borrower and its  Subsidiaries and Affiliates as though Bank of America were not
Administrative  Agent  hereunder  and  without  notice to or consent of Lenders.
Lenders and participants acknowledge that, pursuant to such activities,  Bank of
America or its  Affiliates  may receive  information  regarding  Borrower or its
Affiliates  (including  information  that  may  be  subject  to  confidentiality
obligations  in  favor of  Borrower  or such  Affiliate)  and  acknowledge  that
Administrative Agent shall be under no obligation to provide such

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<PAGE>

information to them.  With respect to its Loans,  Bank of America shall have the
same rights and powers under this Agreement as any other Lender and may exercise
the same as though it were not Administrative Agent.

         9.09  Resignation by  Administrative  Agent.  Administrative  Agent may
resign  as   Administrative   Agent  upon  30  days'   notice  to  Lenders.   If
Administrative  Agent  resigns  under this  Agreement,  Required  Lenders  shall
appoint from among  Lenders a successor  administrative  agent for Lenders which
successor  administrative  agent shall be  consented to by Borrower at all times
other  than  during the  existence  of an Event of Default  (which  approval  of
Borrower  shall  not be  unreasonably  withheld  or  delayed).  If no  successor
administrative agent is appointed prior to the effective date of the resignation
of Administrative Agent, Administrative Agent may appoint, after consulting with
Lenders and Borrower,  a successor  administrative agent from among Lenders (or,
if no Lender is willing to act as successor  administrative  agent,  among other
commercial  banks  each  having  a  combined  capital  and  surplus  of at least
$1,000,000,000),  which successor  administrative agent shall be consented to by
Borrower  at all times other than  during the  existence  of an Event of Default
(which approval of Borrower shall not be unreasonably withheld or delayed). Upon
the acceptance of its appointment as successor  administrative  agent hereunder,
such successor  administrative agent shall succeed to all the rights, powers and
duties of the retiring  Administrative Agent and the term "Administrative Agent"
shall mean such successor  administrative agent and the retiring  Administrative
Agent's  appointment,  powers  and  duties  as  Administrative  Agent  shall  be
terminated.  After any retiring  Administrative Agent's resignation hereunder as
Administrative  Agent,  the  provisions of this Section 9 and Sections 10.03 and
10.13 shall inure to its benefit as to any actions  taken or omitted to be taken
by it while it was  Administrative  Agent under this Agreement.  If no successor
administrative  agent has accepted  appointment as  Administrative  Agent by the
date which is 30 days  following  a retiring  Administrative  Agent's  notice of
resignation,  the retiring Administrative Agent's resignation shall nevertheless
thereupon  become  effective  and  Lenders  shall  perform  all of the duties of
Administrative  Agent  hereunder  until such time,  if any, as Required  Lenders
appoint a successor agent as provided for above.

         9.10  Other  Agents.  None of  Lenders  (other  than  Bank of  America)
identified on the facing page or signature  pages of this  Agreement as having a
title or role other than as a Lender  shall have any right,  power,  obligation,
liability,  responsibility  or  duty  under  this  Agreement  other  than  those
applicable  to all Lenders as such.  Without  limiting  the  foregoing,  none of
Lenders so identified shall have or be deemed to have any fiduciary relationship
with any Lender.  Each Lender  acknowledges that it has not relied, and will not
rely, on any of Lenders so  identified in deciding to enter into this  Agreement
or in taking or not taking action hereunder.

                                   SECTION 10.
                                  MISCELLANEOUS

         10.01 Amendments;  Consents.  No amendment,  modification,  supplement,
extension, termination or waiver of any provision of this Agreement or any other
Loan  Document,  no  approval  or  consent  thereunder,  and no  consent  to any
departure by Borrower  therefrom shall be effective  unless in writing signed by
Borrower and Required Lenders and acknowledged by Administrative Agent, and each
such waiver or consent shall be effective only in the specific  instance and for
the specific purpose for which given.  Notwithstanding  the foregoing  sentence,
without  the  approval  in writing of  Borrower,  Administrative  Agent and each
Lender affected thereby, no amendment,  modification,  supplement,  termination,
waiver, approval, or consent may be effective to:

              (a) Reduce the amount of principal of any Outstanding  Obligations
owed to such Lender;

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<PAGE>

              (b)  Reduce  the  rate  of  interest  payable  on any  Outstanding
Obligations owed to such Lender or the amount or rate of any fee or other amount
payable to such Lender under the Loan  Documents,  except that Required  Lenders
may waive or defer the imposition of the Default Rate;

              (c)  Waive  an Event  of  Default  consisting  of the  failure  of
Borrower to pay when due principal,  interest,  any facility or utilization fee,
or any other amount payable to such Lender under the Loan Documents;

              (d) Postpone any date  scheduled  for the payment of principal of,
or interest on, any Loan or for the payment of any facility or  utilization  fee
or for the  payment of any other  amount,  in each case  payable to such  Lender
under the Loan Documents, or extend the term of, or increase the amount of, such
Lender's  Commitment (it being  understood that a waiver of any Event of Default
not  referred  to in  subsection  (c) above  shall  require  only the consent of
Required  Lenders)  or  modify  the Pro Rata  Share of such  Lender  (except  as
contemplated hereby);

              (e) Amend or waive the  definition  of  "Required  Lenders" or the
provisions of this Section 10.01 or 10.06; or

              (f) Amend or waive any provision of this  Agreement that expressly
requires the consent or approval of such Lender;

provided,  however,  that (i) no amendment,  waiver or consent shall,  unless in
writing and signed by  Administrative  Agent in addition to Required  Lenders or
each  affected  Lender,  as the case may be,  affect  the  rights  or  duties of
Administrative  Agent,  and (ii) any fee letters  may be  amended,  or rights or
privileges  thereunder waived, in a writing executed by the parties thereto. Any
amendment, modification,  supplement, termination, waiver or consent pursuant to
this Section shall apply equally to, and shall be binding upon,  all Lenders and
Administrative Agent.

         10.02  Requisite  Notice;  Effectiveness  of Signatures  and Electronic
Mail.

              (a) Requisite  Notice.  Notices given in connection  with any Loan
Document  shall be  delivered to the  intended  recipient  at the number  and/or
address set forth on the Administrative Questionnaire (or as otherwise specified
from time to time by such  recipient  in  writing to  Administrative  Agent) and
shall be given by (i)  irrevocable  written  notice or (ii) except as  otherwise
provided,  irrevocable  telephonic (not voicemail)  notice.  Such notices may be
delivered, must be confirmed and shall be effective as follows:

Mode of Delivery                   Effective on earlier of actual receipt, and:
---------------------------------  --------------------------------------------
Mail                               Fourth Business Day after deposit in U.S.
                                   Mail, first class postage pre-paid

Courier or hand delivery           When signed for by recipient

Telephone (not voicemail)          When conversation completed (must be
                                   confirmed in writing)

Facsimile                          When confirmed by telephone (not voicemail)

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<PAGE>

Electronic Mail                    When delivered (usage subject to subsection
                                   (c) below)

provided,  however,  that notices delivered to Administrative  Agent pursuant to
Section 2 shall not be  effective  until  actually  received  by  Administrative
Agent; provided,  further, that Administrative Agent may require that any notice
be confirmed or followed by a manually-signed  hard copy thereof.  Notices shall
be in any form  prescribed  herein and, if sent by Borrower,  shall be made by a
Responsible Officer of Borrower.  Notices delivered and, if required,  confirmed
in accordance  with this  subsection  shall be deemed to have been  delivered by
Requisite Notice.

              (b)  Effectiveness  of Facsimile  Documents and  Signatures.  Loan
Documents may be transmitted  and/or signed by facsimile.  The  effectiveness of
any such documents and  signatures  shall,  subject to applicable  Law, have the
same force and  effect as  manually-signed  hard  copies and shall be binding on
Borrower,  Administrative  Agent  and  Lenders.  Administrative  Agent  may also
require that any such documents and signatures be confirmed by a manually-signed
hard copy thereof; provided, however, that the failure to request or deliver the
same shall not limit the effectiveness of any facsimile document or signature.

              (c) Limited Usage of Electronic Mail. Electronic mail and internet
and intranet websites may be used to distribute routine communications,  such as
financial  statements and other  information,  and to distribute  agreements and
other documents to be signed by Administrative  Agent, Lenders and Borrower.  No
other  legally-binding  and/or  time-sensitive   communication  or  Request  for
Extension  of Credit may be sent by  electronic  mail without the consent of, or
confirmation to, the intended recipient in each instance.

              (d) Reliance by Administrative  Agent and Lenders.  Administrative
Agent and Lenders shall be entitled to rely and act upon any notices purportedly
given by or on behalf of Borrower  even if (i) such  notices  were not made in a
manner specified herein, were incomplete or were not preceded or followed by any
other notice specified herein,  or (ii) the terms thereof,  as understood by the
recipient,  varied  from any  confirmation  thereof.  Borrower  shall  indemnify
Administrative Agent-Related Persons and Lenders from any loss, cost, expense or
liability  as a result of  relying  on any  notices  purportedly  given by or on
behalf of Borrower  absent the gross  negligence  or willful  misconduct  of the
Person seeking indemnification.

         10.03 Attorney Costs, Expenses and Taxes. Borrower agrees (a) to pay or
reimburse  Administrative  Agent and Lead Arrangers for all reasonable costs and
expenses incurred in connection with the development,  preparation,  negotiation
and  execution of the Loan  Documents,  and to pay or  reimburse  Administrative
Agent for all  reasonable  costs and expenses  incurred in  connection  with the
development,  preparation,  negotiation and execution of any amendment,  waiver,
consent,  supplement  or  modification  to,  any Loan  Documents,  and any other
documents prepared in connection herewith or therewith, and the consummation and
administration of the transactions  contemplated  hereby and thereby,  including
all  Attorney  Costs  of  Administrative  Agent,  and  (b) to  pay or  reimburse
Administrative  Agent and each  Lender for all costs and  expenses  incurred  in
connection  with  any  restructuring,  reorganization  (including  a  bankruptcy
reorganization)  or enforcement or attempted  enforcement of, or preservation of
any rights  under,  any Loan  Documents,  and any other  documents  prepared  in
connection  herewith or therewith,  or in  connection  with any  refinancing  or
restructuring  of any such  documents  in the  nature of a  "workout"  or of any
insolvency or bankruptcy proceeding, including Attorney Costs. The agreements in
this Section shall survive repayment of all Obligations.

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<PAGE>

         10.04 Binding Effect; Assignment.

              (a) This  Agreement and the other Loan Documents to which Borrower
is a  party  will  be  binding  upon  and  inure  to the  benefit  of  Borrower,
Administrative  Agent,  Lenders and their  respective  successors  and  assigns,
except that,  Borrower may not, except as permitted by Section 7.03,  assign its
rights  hereunder or  thereunder or any interest  herein or therein  without the
prior written consent of all Lenders and any such attempted  assignment shall be
void.  Any  Lender  may at any  time  pledge  its Note or any  other  instrument
evidencing its rights as a Lender under this Agreement to a Federal Reserve Bank
or, if such Lender is a fund, to any trustee or to any other  representative  of
holders of  obligations  owed or securities  issued by such fund as security for
such  obligations  or  securities,  but no such pledge shall release such Lender
from its obligations hereunder or grant to such Federal Reserve Bank or trust or
other representative the rights of a Lender hereunder absent foreclosure of such
pledge, and any transfer to any Person upon the enforcement of such pledge shall
be subject to this Section 10.04.

              (b) From time to time following the Closing Date,  each Lender may
assign  to one or more  banks or other  financial  institutions,  each  having a
combined capital and surplus of at least $250,000,000 (such qualifications being
subject to waiver by Borrower and  Administrative  Agent), all or any portion of
its Commitment and/or  Extensions of Credit;  provided that (i) such assignment,
if not to a Lender or an Affiliate of the assigning  Lender,  shall be consented
to (which consents shall not be unreasonably  withheld) by Borrower at all times
other than during the  existence  of an Event of Default  and by  Administrative
Agent,  (ii) a copy of a duly signed and  completed  Assignment  and  Acceptance
shall be  delivered  to  Administrative  Agent,  (iii)  except in the case of an
assignment  (A) to an Affiliate of the assigning  Lender or to another Lender or
(B) of the entire remaining  Commitment of the assigning Lender,  the portion of
the Commitment assigned shall not be less than the Minimum Amount therefor,  and
(iv) the  effective  date of any such  assignment  shall be as  specified in the
Assignment and Acceptance,  but not earlier than the date which is five Business
Days  after  the date  Administrative  Agent has  received  the  Assignment  and
Acceptance.  Upon  obtaining  any  consent  required  as set  forth in the prior
sentence,  any forms  required by Section 10.20 and payment of the requisite fee
described  below,  the assignee named therein shall be a Lender for all purposes
of this  Agreement  to the extent of the  Assigned  Interest (as defined in such
Assignment and  Acceptance),  and,  except for rights and  obligations  which by
their terms survive  termination of any Commitments,  the assigning Lender shall
be released from any further  obligations  under this Agreement to the extent of
such Assigned Interest. Upon request,  Borrower shall execute and deliver new or
replacement  Notes to the assigning  Lender and the assignee  Lender to evidence
Loans made by them.  Administrative  Agent's consent to any assignment shall not
be deemed to constitute  any  representation  or warranty by any  Administrative
Agent-Related  Person as to any matter.  Administrative  Agent shall  record the
information contained in the Assignment and Acceptance in the Register.

              (c) After receipt of a completed  Assignment and  Acceptance,  and
receipt of an assignment fee of $3,500 from such assignee  and/or such assigning
Lender  (including  in the  case  of  assignments  to  Affiliates  of  assigning
Lenders),  Administrative  Agent shall,  promptly  following the effective  date
thereof,  provide to Borrower and Lenders a revised  Schedule 2.01 giving effect
thereto.

              (d) Each Lender may from time to time,  without the consent of any
other  Person,  grant  participations  to one or more other  Persons  (including
another  Lender) in all or any  portion of its Pro Rata Share of its  Commitment
and/or  Extensions  of  Credit;  provided,   however,  that  (i)  such  Lender's
obligations under this Agreement shall remain unchanged,  (ii) such Lender shall
remain solely  responsible  to the other parties  hereto for the  performance of
such obligations,  (iii) the participating  bank or other financial  institution
shall not be a Lender  hereunder for any purpose  except,  if the  participation
agreement so provides,

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                                       43

<PAGE>

for the purposes of the increased cost  provisions of Section 3 (but only to the
extent that the cost of such benefits to Borrower does not exceed the cost which
Borrower would have incurred in respect of such Lender absent the participation)
and for purposes of Section 10.06, (iv) Borrower,  Administrative  Agent and the
other  Lenders  shall  continue to deal solely and directly  with such Lender in
connection with such Lender's rights and obligations  under this Agreement,  and
(v) the  consent  of the  holder  of such  participation  interest  shall not be
required for amendments or waivers of provisions of the Loan Documents; provided
however,  that the assigning  Lender may, in any agreement  with a  participant,
give such  participant the right to consent (as between the assigning Lender and
such  participant)  to any matter which (A) extends the Maturity Date as to such
participant  or any other  date upon  which any  payment of money is due to such
participant,  (B) reduces the rate of interest owing to such  participant or any
fee or any other monetary amount owing to such  participant,  or (C) reduces the
amount of any  scheduled  payment of principal  owing to such  participant.  Any
Lender that sells a participation to any Person that is a "foreign  corporation,
partnership  or trust"  within  the  meaning  of the Code  shall  include in its
participation  agreement  with such  Person a covenant  by such Person that such
Person will comply with the provisions of Section 10.20 as if such Person were a
Lender and provide that  Administrative  Agent and Borrower shall be third party
beneficiaries of such covenant. Each Lender that sells or grants a participation
shall  (a)  withhold  or  deduct  from  each  payment  to  the  holder  of  such
participation the amount of any tax required under applicable law to be withheld
or deducted from such payment and not withheld or deducted therefrom by Borrower
or  Administrative  Agent,  (b) pay the tax so withheld or deducted by it to the
appropriate taxing authority in accordance with applicable law and (c) indemnify
Borrower and  Administrative  Agent for any losses,  cost and expenses that they
may incur as a result of any failure to so withhold or deduct and pay such tax.

         10.05 Set-off. In addition to any rights and remedies of Administrative
Agent and Lenders or any assignee of any Lender or any Affiliate  thereof (each,
a  "Proceeding  Party")  provided  by law,  upon the  occurrence  and during the
continuance of any Event of Default,  each Proceeding Party is authorized at any
time and from time to time,  without  prior notice to Borrower,  any such notice
being  waived by  Borrower to the fullest  extent  permitted  by law, to proceed
directly, by right of set-off, banker's lien or otherwise, against any assets of
Borrower  which  may be in the hands of such  Proceeding  Party  (including  all
general or special,  time or demand,  provisional  or other  deposits  and other
indebtedness  owing by such Proceeding Party to or for the credit or the account
of Borrower) and apply such assets against the Obligations then due and payable,
irrespective  of  whether  such  Proceeding  Party  shall  have made any  demand
therefor.  Each Lender  agrees  promptly to notify  Borrower and  Administrative
Agent after any such  set-off and  application  made by such  Lender;  provided,
however,  that the failure to give such notice  shall not affect the validity of
such set-off and application.

         10.06  Sharing of Payments.  Each Lender  severally  agrees that if it,
through  the  exercise  of any right of setoff,  banker's  lien or  counterclaim
against Borrower or otherwise, receives payment of the Obligations held by it of
a type owed  ratably to the various  Lenders that is ratably more than any other
Lender receives in payment of those Obligations held by such other Lender, then,
subject to  applicable  Laws,  (a) such Lender  exercising  the right of setoff,
banker's  lien  or  counterclaim  or  otherwise  receiving  such  payment  shall
purchase, and shall be deemed to have simultaneously  purchased,  from the other
Lender a participation in the Obligations held by the other Lender and shall pay
to the  other  Lender a  purchase  price in an  amount  so that the share of the
Obligations  held by each  Lender  after the  exercise  of the right of  setoff,
banker's  lien or  counterclaim  or  receipt  of  payment  shall  be in the same
proportion  that existed prior to the exercise of the right of setoff,  banker's
lien or counterclaim or receipt of payment;  and (b) such other  adjustments and
purchases  of  participations  shall  be made  from  time to  time as  shall  be
equitable  to ensure that all Lenders  share any payment  obtained in respect of
the  Obligations   ratably  in  accordance  with  each  Lender's  share  of  the
Obligations immediately prior to, and without taking into account, the payment;

                                              364-Day Revolving Credit Agreement

                                       44

<PAGE>

provided that, if all or any portion of a disproportionate payment obtained as a
result of the exercise of the right of setoff,  banker's lien,  counterclaim  or
otherwise is thereafter  recovered from the purchasing Lender by Borrower or any
Person claiming through or succeeding to the rights of Borrower, the purchase of
a  participation  shall be rescinded  and the purchase  price  thereof  shall be
restored to the extent of the recovery,  but without interest.  Each Lender that
purchases a participation in the Obligations pursuant to this Section shall from
and after the purchase  have the right to give all notices,  requests,  demands,
directions  and other  communications  under this  Agreement with respect to the
portion of the Obligations purchased to the same extent as though the purchasing
Lender were the original owner of the Obligations purchased.  Borrower expressly
consents to the  foregoing  arrangements  and agrees  that any Lender  holding a
participation  in an  Obligation so purchased may exercise any and all rights of
setoff, banker's lien or counterclaim with respect to the participation as fully
as if Lender were the original owner of the Obligation purchased.

         10.07 No Waiver; Cumulative Remedies.

              (a) No failure by any Lender or Administrative  Agent to exercise,
and no delay by any Lender or  Administrative  Agent in  exercising,  any right,
remedy,  power or privilege  hereunder  shall operate as a waiver  thereof;  nor
shall any single or partial  exercise of any right,  remedy,  power or privilege
under any Loan Document  preclude any other or further  exercise  thereof or the
exercise of any other right, remedy, power or privilege.

              (b) The rights, remedies,  powers and privileges herein or therein
provided are  cumulative and not exclusive of any rights,  remedies,  powers and
privileges  provided by Law. Any decision by Administrative  Agent or any Lender
not to require payment of any interest (including interest at the Default Rate),
fee,  cost or other amount  payable  under any Loan Document or to calculate any
amount  payable by a particular  method on any occasion shall in no way limit or
be deemed a waiver of  Administrative  Agent's or such Lender's right to require
full payment  thereof,  or to calculate an amount payable by another method that
is not inconsistent with this Agreement, on any other or subsequent occasion.

              (c) Except with respect to Section 9.09,  the terms and conditions
of Section 9 are for the sole benefit of Administrative Agent and Lenders.

         10.08 Usury.  Notwithstanding anything to the contrary contained in any
Loan  Document,  the interest paid or agreed to be paid under the Loan Documents
shall  not  exceed  the  maximum  rate of  non-usurious  interest  permitted  by
applicable Law (the "Maximum Rate"). If Administrative Agent or any Lender shall
receive  interest in an amount that  exceeds the  Maximum  Rate,  the  excessive
interest shall be applied to the principal of the Outstanding Obligations or, if
it exceeds the unpaid principal,  refunded to Borrower.  In determining  whether
the interest contracted for, charged or received by Administrative  Agent or any
Lender  exceeds the Maximum  Rate,  such Person may, to the extent  permitted by
applicable  Law,  (a)  characterize  any  payment  that is not  principal  as an
expense, fee or premium rather than interest,  (b) exclude voluntary prepayments
and the effects  thereof,  and (c) amortize,  prorate,  allocate and spread,  in
equal or unequal parts, the total amount of interest throughout the contemplated
term of the Obligations.

         10.09  Counterparts.  This  Agreement  may be  executed  in one or more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

         10.10  Integration.  This  Agreement,  together  with  the  other  Loan
Documents and any letter agreements  referred to herein,  comprises the complete
and integrated agreement of the parties regarding the

                                              364-Day Revolving Credit Agreement

                                       45

<PAGE>

subject matter hereof and supersedes all prior  agreements,  written or oral, on
the subject matter hereof.  In the event of any conflict  between the provisions
of this Agreement and those of any other Loan  Document,  the provisions of this
Agreement shall control and govern;  provided that the inclusion of supplemental
rights or remedies in favor of Administrative Agent or Lenders in any other Loan
Document shall not be deemed a conflict with this Agreement.  Each Loan Document
was drafted with the joint  participation of the respective  parties thereto and
shall be  construed  neither  against  nor in favor of any party,  but rather in
accordance with the fair meaning thereof. THE LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT BETWEEN THE PARTIES THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BY SUCH PARTIES. THERE ARE
NO UNWRITTEN ORAL AGREEMENTS BETWEEN SUCH PARTIES.

         10.11  Nature  of  Lenders'  Obligations.  Nothing  contained  in  this
Agreement or any other Loan Document and no action taken by Administrative Agent
or Lenders or any of them  pursuant  hereto or thereto may, or may be deemed to,
make Lenders a  partnership,  an  association,  a joint venture or other entity,
either  among  themselves  or with  Borrower or any  Subsidiary  or Affiliate of
Borrower.  Each Lender's  obligation  to make any  Extension of Credit  pursuant
hereto is several  and not joint or joint and  several.  A default by any Lender
will not increase the Pro Rata Share attributable to any other Lender.

         10.12 Survival of Representations  and Warranties.  All representations
and  warranties  made hereunder and in any other Loan Document shall survive the
execution and delivery thereof. Such representations and warranties have been or
will be relied upon by Administrative Agent and each Lender, notwithstanding any
investigation made by Administrative Agent or any Lender or on their behalf.

         10.13 Indemnity by Borrower.

              (a)  Whether  or not  the  transactions  contemplated  hereby  are
consummated,   Borrower  agrees  to  indemnify,  save  and  hold  harmless  each
Administrative  Agent-Related  Person  and  each  Lender  and  their  respective
Affiliates,  directors,  officers, agents, attorneys and employees (collectively
the "Indemnitees") from and against: (i) any and all claims, demands, actions or
causes of action that are asserted  against any  Indemnitee by any Person (other
than  Administrative  Agent or any Lender) relating  directly or indirectly to a
claim, demand,  action or cause of action that such Person asserts or may assert
against  Borrower,  any of its  Affiliates  or any of its officers or directors;
(ii) any and all claims, demands,  actions or causes of action arising out of or
relating to the Loan Documents, the Commitments,  the use or contemplated use of
the  proceeds of any  Extension  of Credit,  or the  relationship  of  Borrower,
Administrative Agent and Lenders under this Agreement;  (iii) any administrative
or  investigative  proceeding by any  Governmental  Authority  arising out of or
related to a claim,  demand,  action or cause of action  described in subsection
(i) or (ii) above; and (iv) any and all liabilities (including liabilities under
indemnities),  losses,  costs or expenses  (including Attorney Costs (limited to
one law firm for Lenders  unless  Lenders have  differing  interests or defenses
that  preclude the  engagement of one law firm to represent  Lenders))  that any
Indemnitee  suffers  or  incurs as a result of the  assertion  of any  foregoing
claim,  demand,  action,  cause of action or  proceeding,  or as a result of the
preparation  of any defense in  connection  with any  foregoing  claim,  demand,
action, cause of action or proceeding,  in all cases, including settlement costs
incurred with the prior written  consent of Borrower (which consent shall not be
unreasonably  withheld),  whether or not  arising  out of the  negligence  of an
Indemnitee,  and whether or not an Indemnitee is a party to such claim,  demand,
action,  cause of action or proceeding  (all the  foregoing,  collectively,  the
"Indemnified Liabilities"); provided that no Indemnitee shall

                                              364-Day Revolving Credit Agreement

                                       46

<PAGE>

be entitled to  indemnification  for any loss caused by its own gross negligence
or willful misconduct. The agreements in this Section shall survive repayment of
all Obligations.

         10.14 Nonliability of Lenders. Borrower acknowledges and agrees that:

              (a) Any inspections of any property of Borrower made by or through
Administrative  Agent or Lenders are for purposes of  administration of the Loan
Documents  only,  and Borrower is not entitled to rely upon the same (whether or
not such inspections are at the expense of Borrower);

              (b) By accepting or  approving  anything  required to be observed,
performed, fulfilled or given to Administrative Agent or Lenders pursuant to the
Loan Documents, neither Administrative Agent nor Lenders shall be deemed to have
warranted or  represented  the  sufficiency,  legality,  effectiveness  or legal
effect of the same,  or of any term,  provision or condition  thereof,  and such
acceptance or approval thereof shall not constitute a warranty or representation
to anyone with respect thereto by Administrative Agent or Lenders;

              (c) The relationship between Borrower and Administrative Agent and
Lenders is, and shall at all times remain,  solely that of borrower and lenders;
neither  Administrative  Agent nor any Lender  shall under any  circumstance  be
deemed  to  be  in  a  relationship  of  confidence  or  trust  or  a  fiduciary
relationship  with Borrower or its  Affiliates,  or to owe any fiduciary duty to
Borrower  or  its  Affiliates;  neither  Administrative  Agent  nor  any  Lender
undertakes or assumes any  responsibility  or duty to Borrower or its Affiliates
to select, review, inspect,  supervise, pass judgment upon or inform Borrower or
its Affiliates of any matter in connection with their property or the operations
of Borrower or its Affiliates;  Borrower and its Affiliates  shall rely entirely
upon  their  own  judgment  with  respect  to  such  matters;  and  any  review,
inspection,   supervision,   exercise  of  judgment  or  supply  of  information
undertaken or assumed by  Administrative  Agent or any Lender in connection with
such matters is solely for the  protection of  Administrative  Agent and Lenders
and neither Borrower nor any other Person is entitled to rely thereon; and

              (d)  Neither   Administrative   Agent  nor  any  Lender  shall  be
responsible or liable to any Person for any loss, damage,  liability or claim of
any kind relating to injury or death to Persons or damage to property  caused by
the  actions,  inaction or  negligence  of Borrower  and/or its  Affiliates  and
Borrower hereby indemnifies and holds  Administrative Agent and Lenders harmless
from any such loss, damage, liability or claim.

         10.15 No  Third  Parties  Benefitted.  This  Agreement  is made for the
purpose of defining and setting forth certain obligations,  rights and duties of
Borrower,  Administrative Agent and Lenders in connection with the Extensions of
Credit, and is made for the sole benefit of Borrower,  Administrative  Agent and
Lenders,  and  Administrative  Agent's and  Lenders'  successors  and  permitted
assigns.  Except as provided in Sections 10.04 and 10.13,  no other Person shall
have any rights of any nature hereunder or by reason hereof.

         10.16  Severability.  Any  provision  of the  Loan  Documents  that  is
prohibited or unenforceable in any jurisdiction  shall, as to such jurisdiction,
be   ineffective   and   severable  to  the  extent  of  such   prohibition   or
unenforceability  without invalidating the remaining provisions thereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or
render  unenforceable such provision in any other  jurisdiction.  Administrative
Agent,  Lenders and Borrower agree to negotiate,  in good faith,  the terms of a
replacement provision as similar to the severed provision as may be possible and
be legal, valid, and enforceable.

                                              364-Day Revolving Credit Agreement

                                       47

<PAGE>

         10.17  Confidentiality.  Administrative Agent and each Lender shall use
any confidential non-public information concerning Borrower and its Subsidiaries
and Affiliates that is furnished to Administrative Agent or such Lender by or on
behalf of Borrower and its  Subsidiaries  in connection  with the Loan Documents
(collectively,   "Confidential   Information")   solely   for  the   purpose  of
administering   and  enforcing  the  Loan  Documents,   and  it  will  hold  the
Confidential   Information   in  confidence.   Notwithstanding   the  foregoing,
Administrative Agent and each Lender may disclose  Confidential  Information (a)
to their affiliates or any of their or their  affiliates'  directors,  officers,
employees,  auditors, counsel, advisors, or representatives  (collectively,  the
"Representatives")  who need to know such information for the purposes set forth
in this Section and who have been advised of and acknowledge their obligation to
keep such information  confidential in accordance with this Section,  (b) to any
bank or financial  institution or other entity to which such Lender has assigned
or desires to assign an interest or  participation  in the Loan Documents or the
Obligations,  provided that any such  foregoing  recipient of such  Confidential
Information  agrees  to  keep  such  Confidential  Information  confidential  as
specified  herein,  (c) to any governmental  agency or regulatory body having or
claiming to have  authority to regulate or oversee any aspect of  Administrative
Agent's or such Lender's business or that of their Representatives in connection
with the  exercise of such  authority  or claimed  authority,  (d) to the extent
necessary or  appropriate  to enforce any right or remedy or in connection  with
any claims asserted by or against  Administrative Agent or such Lender or any of
their  Representatives,  and (e) pursuant to any  subpoena or any similar  legal
process.  For purposes hereof,  the term  "Confidential  Information"  shall not
include  information  that  (x)  is  in  Administrative  Agent's  or a  Lender's
possession prior to its being provided by or on behalf of Borrower or any of its
Subsidiaries  or  Affiliates,  provided  that such  information  is not known by
Administrative  Agent or such  Lender to be subject  to another  confidentiality
agreement with, or other legal or contractual  obligation of confidentiality to,
Borrower or any of its  Subsidiaries or Affiliates,  (y) is or becomes  publicly
available  (other than through a breach hereof by  Administrative  Agent or such
Lender),  or (z) becomes available to  Administrative  Agent or such Lender on a
nonconfidential  basis,  provided  that the source of such  information  was not
known by  Administrative  Agent or such Lender to be bound by a  confidentiality
agreement  or other legal or  contractual  obligation  of  confidentiality  with
respect to such information.

         10.18 Headings.  Section  headings in this Agreement and the other Loan
Documents  are included for  convenience  of reference  only and are not part of
this Agreement or the other Loan Documents for any other purpose.

         10.19  Time  of the  Essence.  Time  is of  the  essence  of  the  Loan
Documents.

         10.20  Foreign  Lenders.  Each  Lender  organized  under  the Laws of a
jurisdiction  outside the United States,  on or prior to the Closing Date in the
case of each Lender listed on the signature  pages hereof and on or prior to the
date on which it  becomes a Lender in the case of each  other  Lender,  and from
time to time  thereafter  if requested in writing by Borrower or  Administrative
Agent (but only so long as such Lender  remains  lawfully able to do so),  shall
provide  Borrower and  Administrative  Agent with (i) if such Lender is a "bank"
within the meaning of Section  881(c)(3)(A)  of the Code, IRS Form 1001 or 4224,
as  appropriate,  or any successor form  prescribed by the IRS,  certifying that
such  Lender is  entitled  to  benefits  under an income tax treaty to which the
United States is a party which reduces the rate of  withholding  tax on payments
of  interest  or  certifying  that the income  receivable  pursuant  to the Loan
Documents is  effectively  connected  with the conduct of a trade or business in
the United States,  or (ii) if such Lender is not a "bank" within the meaning of
Section  881(c)(3)(A)  of the Code and intends to claim an exemption from United
States  withholding  tax under Section 871(h) or 881(c) of the Code with respect
to payments of "portfolio interest,"

                                              364-Day Revolving Credit Agreement

                                       48

<PAGE>

IRS Form W-8, or any  successor  form  prescribed  by the IRS, and a certificate
representing  that such Lender is not a bank for  purposes of Section  881(c) of
the Code,  is not a  ten-percent  shareholder  (within  the  meaning  of Section
871(h)(3)(B)  of  the  Code)  of  Borrower,  and  is  not a  controlled  foreign
corporation  related to Borrower (within the meaning of Section 864(d)(4) of the
Code).  Thereafter  and from time to time,  each such Person  shall (a) promptly
submit to Administrative  Agent such additional duly completed and signed copies
of one of such forms (or such  successor  forms as shall be adopted from time to
time by the relevant United States taxing  authorities) as may then be available
under then current United States laws and regulations to avoid, or such evidence
as is  satisfactory  to  Borrower  and  Administrative  Agent  of any  available
exemption  from or reduction of, United States  withholding  taxes in respect of
all payments to be made to such Person by Borrower  pursuant to this  Agreement,
(b) promptly notify  Administrative  Agent of any change in circumstances  which
would modify or render invalid any claimed exemption or reduction,  and (c) take
such steps as shall not be materially  disadvantageous  to it, in the reasonable
judgment of such  Lender,  and as may be  reasonably  necessary  (including  the
re-designation  of its Lending  Office) to avoid any  requirement  of applicable
Laws that  Borrower  make any  deduction or  withholding  for taxes from amounts
payable to such Person. If such Person fails to deliver the above forms or other
documentation,  then Administrative Agent may withhold from any interest payment
to such Person an amount equivalent to the applicable withholding tax imposed by
Sections  1441 and 1442 of the  Code,  without  reduction.  If any  Governmental
Authority asserts that Administrative Agent did not properly withhold any tax or
other amount from  payments  made in respect of such  Person,  such Person shall
indemnify  Administrative Agent therefor,  including all penalties and interest,
any taxes imposed by any  jurisdiction on the amounts payable to the Agent under
this   Section,   and  costs  and  expenses   (including   Attorney   Costs)  of
Administrative Agent. The obligation of Lenders under this Section shall survive
the payment of all Obligations and the resignation of Administrative Agent.

         10.21 Removal and Replacement of Lenders.

              (a) Under any circumstances set forth in this Agreement  providing
that  Borrower  shall  have  the  right  (or,  in the case of  Section  2.10(a),
obligation) to remove or replace a Lender as a party to this Agreement, Borrower
may (or, in the case of Section 2.10(a),  shall), upon notice to such Lender and
Administrative  Agent,  remove such Lender by (i) non ratably  terminating  such
Lender's  Commitment  and/or (ii) causing  such Lender to assign its  Commitment
pursuant to Section 10.04(b) to one or more other Lenders or permitted assignees
procured by  Borrower.  Borrower  shall,  in the case of a  termination  of such
Lender's  Commitment  pursuant  to  clause  (i)  preceding,  (y) pay in full all
principal,  interest,  fees and other amounts  owing to such Lender  through the
date of termination  (including any amounts payable  pursuant to Section 3), and
(z) release such Lender from its  obligations  under the Loan Documents from and
after  the  date of  termination.  Any such  Lender  whose  Commitment  is being
assigned shall execute and deliver an Assignment  and  Acceptance  covering such
Lender's  Commitment.  Borrower shall, in the case of an assignment  pursuant to
clause  (ii)  preceding,  cause  to  be  paid  the  assignment  fee  payable  to
Administrative  Agent pursuant to Section 10.04(c).  Administrative  Agent shall
distribute an amended  Schedule 2.01,  which shall be deemed  incorporated  into
this Agreement, to reflect adjustments to Lenders and their Commitments.

              (b) This section shall  supercede any  provisions in Section 10.01
to the contrary.

         10.22 Governing Law.

              (a) THE LOAN  DOCUMENTS HAVE BEEN ENTERED INTO PURSUANT TO SECTION
5-1401 OF THE NEW YORK GENERAL  OBLIGATIONS  LAW AND THE LOAN DOCUMENT  SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS

                                              364-Day Revolving Credit Agreement

                                       49

<PAGE>

OF THE  STATE OF NEW YORK  APPLICABLE  TO  AGREEMENTS  MADE AND TO BE  PERFORMED
ENTIRELY WITHIN SUCH STATE;  PROVIDED THAT ADMINISTRATIVE  AGENT AND EACH LENDER
SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW.

              (b) ANY LEGAL ACTION OR PROCEEDING  WITH RESPECT TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK
SITTING IN THE BOROUGH OF  MANHATTAN  OR OF THE UNITED  STATES FOR THE  SOUTHERN
DISTRICT  OF SUCH  STATE,  AND BY  EXECUTION  AND  DELIVERY  OF THIS  AGREEMENT,
BORROWER,  ADMINISTRATIVE  AGENT AND EACH  LENDER  CONSENTS,  FOR  ITSELF AND IN
RESPECT OF ITS  PROPERTY,  TO THE  NON-EXCLUSIVE  JURISDICTION  OF THOSE  COURTS
PURSUANT TO SECTION 5-1402 OF THE NEW YORK GENERAL  OBLIGATIONS  LAW.  BORROWER,
ADMINISTRATIVE AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING
ANY  OBJECTION  TO THE  LAYING  OF VENUE OR BASED ON THE  GROUNDS  OF FORUM  NON
CONVENIENS,  WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR
PROCEEDING  IN SUCH  JURISDICTION  IN  RESPECT  OF ANY  LOAN  DOCUMENT  OR OTHER
DOCUMENT RELATED THERETO. BORROWER,  ADMINISTRATIVE AGENT AND EACH LENDER WAIVES
PERSONAL SERVICE OF ANY SUMMONS,  COMPLAINT OR OTHER PROCESS,  WHICH MAY BE MADE
BY THE MAILING OF COPIES THEREOF BY CERTIFIED  MAIL,  RETURN RECEIPT  REQUESTED,
POSTAGE  PREPAID,  TO  ITS  ADDRESS  SPECIFIED  HEREIN,  OR BY ANY  OTHER  MEANS
PERMITTED BY THE LAWS OF THE STATE OF NEW YORK.

         10.23  Waiver of Right to Trial by Jury.  EACH PARTY TO THIS  AGREEMENT
HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND,  ACTION
OR CAUSE OF ACTION  ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH
OR RELATED OR  INCIDENTAL  TO THE DEALINGS OF THE PARTIES  HERETO OR ANY OF THEM
WITH RESPECT TO ANY LOAN DOCUMENT,  OR THE TRANSACTIONS RELATED THERETO, IN EACH
CASE WHETHER NOW EXISTING OR HEREAFTER ARISING,  AND WHETHER FOUNDED IN CONTRACT
OR TORT OR  OTHERWISE;  AND EACH PARTY HEREBY  AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT
A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR
A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN  EVIDENCE OF THE CONSENT OF THE
SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

                     [REMAINDER OF PAGE INTENTIONALLY BLANK.
                            SIGNATURE PAGE FOLLOWS.]

                                              364-Day Revolving Credit Agreement

                                       50

<PAGE>

         Signature Page to that certain 364-Day Revolving Credit Agreement dated
as of the date first set forth above, among Comcast Cable Communications,  Inc.,
as Borrower, each Lender, and Bank of America, N.A., as Administrative Agent.

                              COMCAST CABLE COMMUNICATIONS, INC.,
                              as Borrower

                              By: /s/ Kenneth Mikalauskas
                                  ----------------------------------------------
                                  Kenneth Mikalauskas, Vice President/Assistant
                                  Treasurer

              SIGNATURE PAGE FOR 364-DAY REVOLVING CREDIT AGREEMENT

<PAGE>

         Signature Page to that certain 364-Day Revolving Credit Agreement dated
as of the date first set forth above, among Comcast Cable Communications,  Inc.,
as Borrower, each Lender, and Bank of America, N.A., as Administrative Agent.

                              BANK OF AMERICA, N.A., as Administrative Agent
                              and as a Lender

                              By:
                                  ----------------------------------------------
                                  Todd  Shipley, Managing Director

              SIGNATURE PAGE FOR 364-DAY REVOLVING CREDIT AGREEMENT

<PAGE>

         Signature Page to that certain 364-Day Revolving Credit Agreement dated
as of the date first set forth above, among Comcast Cable Communications,  Inc.,
as Borrower, each Lender, and Bank of America, N.A., as Administrative Agent.

                              Name of Lender:

                              By:
                                       -----------------------------------------
                              Name:
                                       -----------------------------------------
                              Title:
                                       -----------------------------------------

              SIGNATURE PAGE FOR 364-DAY REVOLVING CREDIT AGREEMENT

<PAGE>

         Signature Page to that certain 364-Day Revolving Credit Agreement dated
as of the date first set forth above, among Comcast Cable Communications,  Inc.,
as Borrower, each Lender, and Bank of America, N.A., as Administrative Agent.

                              Name of Lender:

                              By:
                                       -----------------------------------------
                              Name:
                                       -----------------------------------------
                              Title:
                                       -----------------------------------------

                              By:
                                       -----------------------------------------
                              Name:
                                       -----------------------------------------
                              Title:
                                       -----------------------------------------

              SIGNATURE PAGE FOR 364-DAY REVOLVING CREDIT AGREEMENT

<PAGE>
                                    EXHIBIT A

                     FORM OF REQUEST FOR EXTENSION OF CREDIT

                                                       Date: ____________, 200__

To:      Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

         Reference is made to that certain 364-Day  Revolving  Credit  Agreement
dated as of August  24,  2000,  among  Comcast  Cable  Communications,  Inc.,  a
Delaware corporation ("Borrower"),  Lenders from time to time party thereto, and
Bank of America, N.A., as Administrative Agent (as amended, restated,  extended,
supplemented   or  otherwise   modified  in  writing  from  time  to  time,  the
"Agreement;" the terms defined therein being used herein as therein defined).

         The undersigned Responsible Officer hereby requests (select one):

         [__]  A Borrowing of Loans      [__]  A Conversion or Continuation
                                               of Loans

         1.  On ________________________________________ (a Business Day).

         2.  In the amount of $_______________________.

         3.  Comprised of ____________________________________.
                               [type of Loan requested]

         4.  For Eurodollar Rate Loans:  with an Interest Period of ___  months.

         The foregoing  request  complies with the requirements of Sections 2.01
and 2.02 of the Agreement.  If the requested  Extension of Credit is a Borrowing
of Loans, the undersigned hereby certifies that the following statements will be
true on the date of the requested Extension of Credit:

         (a)  The  representations  and  warranties  of  Borrower  contained  in
     Sections  5.01,  5.02 and 5.03 of the Agreement are correct in all material
     respects; and

         (b) no  Default  or Event of  Default  exists or will  result  from the
     requested Extension of Credit.

                                COMCAST CABLE COMMUNICATIONS, INC.

                                By:
                                     -------------------------------------------
                                Name:
                                       -----------------------------------------
                                Title:
                                        ----------------------------------------

                             Exhibit A to the 364-Day Revolving Credit Agreement

                                        1

<PAGE>

                                    EXHIBIT B

                         FORM OF COMPLIANCE CERTIFICATE

                                    Financial Statement Date: ____________, 200_

To:      Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

Reference is made to that certain 364-Day Revolving Credit Agreement dated as of
August  24,  2000,  among  Comcast  Cable   Communications,   Inc.,  a  Delaware
corporation  ("Borrower"),  Lenders from time to time party thereto, and Bank of
America,  N.A.,  as  Administrative  Agent  (as  amended,  restated,   extended,
supplemented   or  otherwise   modified  in  writing  from  time  to  time,  the
"Agreement;" the terms defined therein being used herein as therein defined).

         The  undersigned  Responsible  Officer hereby  certifies as of the date
hereof  that he is the  ____________  of  Borrower,  and  that,  as such,  he is
authorized to execute and deliver this  Certificate to  Administrative  Agent on
the behalf of Borrower, and that:

            [Use following for fiscal year-end financial statements]

         1.  Attached  hereto  as  Annex 1 are the  year-end  audited  financial
statements  required by Section  6.01(a) of the Agreement for the fiscal year of
Borrower  ended as of the above  date,  together  with the report and opinion of
independent certified public accountants required by such section.

           [Use following for fiscal quarter-end financial statements]

         1. Attached  hereto as Annex 1 are the unaudited  financial  statements
required by Section  6.01(b) of the Agreement for the fiscal quarter of Borrower
ended as of the  above  date.  Such  financial  statements  fairly  present  the
financial condition,  results of operations and changes in financial position of
Borrower and its  Subsidiaries  in accordance  with GAAP as at such date and for
such periods,  subject only to pro forma  adjustments  and normal year-end audit
adjustments and the absence of footnotes.

         2. The  undersigned  has reviewed and is familiar with the terms of the
Agreement  and has made,  or has  caused to be made  under  his  supervision,  a
detailed review of the transactions  and conditions  (financial or otherwise) of
Borrower  during  the  accounting  period  covered  by  the  attached  financial
statements.

         3. A review of the activities of Borrower during such fiscal period has
been made under my supervision  with a view to  determining  whether during such
fiscal period  Borrower  performed and observed its  Obligations  under the Loan
Documents, and

                                  [select one:]

         [to the best  knowledge of the  undersigned  during such fiscal period,
Borrower  performed  and  observed  each  covenant  and  condition  of the  Loan
Documents applicable to it.]

                             Exhibit B to the 364-Day Revolving Credit Agreement

                                        1

<PAGE>

                                     --or--

         [the  following  covenants  or  conditions  have not been  performed or
observed  and the  following  is a list of each such Default or Event of Default
and its nature and status:]

         4. The financial covenant analyses and information set forth on Annex 2
attached  hereto are true and accurate.  Such analyses and information set forth
the  necessary  adjustments  to exclude the  Indebtedness,  EBITDA and  Interest
Expense  attributed to Unrestricted  Subsidiaries  and give pro forma effect (in
accordance  with Section 1.07 of the  Agreement)  to Material  Acquisitions  and
Material Dispositions made during the period covered thereby.

         IN WITNESS WHEREOF, the undersigned has executed this Certificate as of
_______________, 200_.

                                       COMCAST CABLE COMMUNICATIONS, INC.

                                       By:
                                            ------------------------------------
                                       Name:
                                              ----------------------------------
                                       Title:
                                               ---------------------------------

                             Exhibit B to the 364-Day Revolving Credit Agreement

                                        2

<PAGE>

                                     ANNEX 1

                              FINANCIAL STATEMENTS

                             Exhibit B to the 364-Day Revolving Credit Agreement

                                        1

<PAGE>

<TABLE>
<CAPTION>
                       For the Quarter/Year ended ___________________, 200_ ("Statement Date")

                                                       ANNEX 2
                                            to the Compliance Certificate
                                                    ($ in 000's)
<S>           <C>                                                                                     <C>

I.       Section 7.07(a) - Interest Coverage Ratio.

         A.       Consolidated EBITDA for two consecutive fiscal quarters ending
                  on Statement Date ("Subject Two Quarters"):

                  1.       Consolidated net income for Subject Two Quarters
                           (excluding gains and losses from unusual or extraordinary
                           items and interest income):                                                $____________

                  2.       Consolidated Interest Expense for Subject Two Quarters:                    $____________

                  3.       Provision for income or gross receipts taxes for Subject
                           Two Quarters:                                                              $____________

                  4.       Depreciation expense for Subject Two Quarters:                             $____________

                  5.       Amortization expense for Subject Two Quarters:                             $____________

                  6.       Other non-cash charges to income for Subject Two Quarters:                 $____________

                  7.       Management and programming fees paid to Comcast Corporation
                           or any of its wholly-owned Subsidiaries other than Borrower or
                           any Restricted Subsidiary during Subject Two Quarters:                     $____________

                  8.       Cash payments made in Subject Two Quarters in respect of
                           non-cash charges accrued during a prior period:                            $____________

                  9.       Consolidated EBITDA for Subject Two Quarters
                           (Lines I.A.1 + 2 + 3 + 4 + 5 + 6 + 7 - 8):                                 $____________

         B.       EBITDA of Unrestricted Subsidiaries for Subject Two Quarters:

                  1.       Net income of Unrestricted Subsidiaries for Subject Two
                           Quarters (excluding gains and losses from unusual or
                           extraordinary items and interest income):                                  $____________

                  2.       Interest Expense of Unrestricted Subsidiaries for Subject
                           Two Quarters:                                                              $____________

                  3.       Provision for income or gross receipts taxes of Unrestricted
                           Subsidiaries for Subject Two Quarters:                                     $____________

                                                                Exhibit B to the 364-Day Revolving Credit Agreement

                                                          1

<PAGE>

                  4.       Depreciation expense of Unrestricted Subsidiaries for
                           Subject Two Quarters:                                                      $____________

                  5.       Amortization expense of Unrestricted Subsidiaries for
                           Subject Two Quarters:                                                      $____________

                  6.       Other non-cash charges to income of Unrestricted Subsidiaries
                           for Subject Two Quarters:                                                  $____________

                  7.       Management and programming fees paid by Unrestricted
                           Subsidiaries to Comcast Corporation or any of its wholly-
                           owned Subsidiaries other than Borrower or a Restricted
                           Subsidiary during Subject Two Quarters:                                    $____________

                  8.       Cash payments made by Unrestricted Subsidiaries in Subject
                           Two Quarters in respect of non-cash charges accrued during
                           a prior period:                                                            $____________

                  9.       EBITDA of Unrestricted Subsidiaries for Subject Two Quarters
                           (Lines I.B.1 + 2 + 3 + 4 + 5 + 6 + 7 - 8):                                 $____________

         C.       EBITDA of Borrower and Restricted Subsidiaries for Subject Two
                  Quarters  ((Line I.A.9) - (Line I.B.9)):                                            $____________

         D.       Annualized EBITDA of Borrower and Restricted Subsidiaries
                  (Line I.C times two (2)): $____________

         E.       Consolidated Interest Expense for Subject Two Quarters:                             $____________

         F.       Interest Expense of Unrestricted Subsidiaries for Subject Two Quarters:             $____________

         G.       Interest Expense of Borrower and Restricted Subsidiaries for Subject
                  Two Quarters ((Line I.E) - (Line I.F)):                                             $____________

         H.       Annualized Interest Expense of Borrower and Restricted Subsidiaries
                  (Line I.G times two (2)): $____________

         I.       Interest Coverage Ratio ((Line I.D) / (Line I.H)):                               ___________ to 1

                  Minimum required:                                                                       2.50 to 1

II.      Section 7.15(b) - Leverage Ratio.

         A.       Consolidated Indebtedness at Statement Date:                                        $____________

         B.       Indebtedness of Unrestricted Subsidiaries at Statement Date:                        $____________

                                                                Exhibit B to the 364-Day Revolving Credit Agreement

                                                          2

<PAGE>

         C.       Consolidated Total Indebtedness at Statement Date:
                  (Line II.A) - (Line II.B)                                                           $____________

         D.       Annualized EBITDA of Borrower and Restricted Subsidiaries
                  (Line I.D):                                                                         $____________

         E.       Leverage Ratio ((Line II.C) / (Line II.D)):                                        _________ to 1

                  Maximum permitted:                                                                      5.50 to 1

                                                                Exhibit B to the 364-Day Revolving Credit Agreement

</TABLE>
                                                          3

<PAGE>

                                    EXHIBIT C

                                  FORM OF NOTE

                                                   _____________________, 200_

         FOR VALUE RECEIVED,  the undersigned  ("Borrower"),  hereby promises to
pay to the order of ("Lender"),  on the date specified in the Agreement referred
to below,  the unpaid  principal  amount of Loans (as  defined in the  Agreement
referred  to below)  made by Lender  to  Borrower  under  that  certain  364-Day
Revolving Credit Agreement dated as of August 24, 2000, among Borrower,  Lenders
from time to time party thereto,  and Bank of America,  N.A., as  Administrative
Agent (as amended,  restated,  extended,  supplemented or otherwise  modified in
writing from time to time, the "Agreement;" the terms defined therein being used
herein as therein defined).

         Borrower  promises to pay  interest on the unpaid  principal  amount of
each Loan  from the date of such Loan  until  such  principal  amount is paid in
full,  at  such  interest  rates  and at  such  times  as are  specified  in the
Agreement.   All   payments  of  principal   and  interest   shall  be  made  to
Administrative Agent at Administrative  Agent's Office for the account of Lender
in  immediately  available  funds.  If any  amount  is not paid in full when due
hereunder,  such unpaid amount shall bear interest, to be paid upon demand, from
the due date  thereof  until the date of actual  payment  (and before as well as
after judgment) at the per annum rate set forth in the Agreement.

         This Note is one of the "Notes" referred to in the Agreement. Reference
is hereby  made to the  Agreement  for rights  and  obligations  of payment  and
prepayment,  events of default and the right of Administrative  Agent, on behalf
of Lender, to accelerate the maturity hereof upon the occurrence of such events.
Loans made by Lender shall be evidenced by one or more loan  accounts or records
maintained by Lender in the ordinary course of business.  Lender may also attach
schedules to this Note and endorse thereon the date,  amount and maturity of its
Loans and payments with respect thereto.

         Borrower,  for  itself,  its  successors  and  assigns,  hereby  waives
diligence,  presentment,  protest  and  demand and  notice of  protest,  demand,
dishonor and non-payment of this Note.

         Borrower  agrees  to pay  all  collection  expenses,  court  costs  and
Attorney Costs (whether or not litigation is commenced) which may be incurred by
Administrative  Agent or Lender in connection with the collection or enforcement
of this Note.

         THIS NOTE SHALL BE GOVERNED BY AND  CONSTRUED  IN  ACCORDANCE  WITH THE
LAWS OF THE STATE OF NEW YORK.

                                 COMCAST CABLE COMMUNICATIONS, INC.

                                 By:
                                      ------------------------------------------
                                 Name:
                                        ----------------------------------------
                                 Title:
                                         ---------------------------------------

                             Exhibit C to the 364-Day Revolving Credit Agreement

                                        1

<PAGE>

<TABLE>
<CAPTION>
<S>     <C>
                                           LOANS AND PAYMENTS WITH RESPECT THERETO

                                                                           Amount of
                                                                           Principal        Outstanding
                                                           End of         or Interest        Principal
                       Type of         Amount of          Interest         Paid This          Balance          Notation
      Date            Loan Made        Loan Made           Period             Date           This Date          Made By
---------------------------------------------------------------------------------------------------------------------------

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

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

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

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

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

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

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

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

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

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

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

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

                                                                Exhibit C to the 364-Day Revolving Credit Agreement
</TABLE>

                                        2

<PAGE>

                                    EXHIBIT D

                        FORM OF ASSIGNMENT AND ACCEPTANCE

                                                   _____________________, 200_

         Reference is made to that certain 364-Day  Revolving  Credit  Agreement
dated as of August  24,  2000,  among  Comcast  Cable  Communications,  Inc.,  a
Delaware corporation ("Borrower"),  Lenders from time to time party thereto, and
Bank of America, N.A., as Administrative Agent (as amended, restated,  extended,
supplemented   or  otherwise   modified  in  writing  from  time  to  time,  the
"Agreement;"  the terms defined  therein being used herein as therein  defined).
The  assignor  identified  on the  signature  page hereto  ("Assignor")  and the
assignee identified on the signature page hereto ("Assignee") agree as follows:

         1. (a) Subject to  Paragraph  11,  effective  as of the date written on
Annex 1 hereto (the "Effective Date"), Assignor irrevocably sells and assigns to
Assignee without recourse to Assignor, and Assignee hereby irrevocably purchases
and assumes from Assignor without recourse to Assignor,  the interest  described
on Annex 1 hereto (the  "Assigned  Interest")  in and to  Assignor's  rights and
obligations under the Agreement.

         (b) From and after the Effective  Date,  (i) Assignee  shall be a party
under the Agreement and will have all the rights and obligations of a Lender for
all purposes under the Loan Documents to the extent of the Assigned Interest and
be bound by the  provisions  thereof,  and (ii) Assignor  shall  relinquish  its
rights and be released from its obligations under the Agreement to the extent of
the  Assigned  Interest.  Assignor  and/or  Assignee,  as agreed by Assignor and
Assignee,  shall deliver to Administrative  Agent any applicable  assignment fee
required under Section 10.04(c) of the Agreement.

         2.  On  the  Effective  Date,  Assignee  shall  pay  to  Assignor,   in
immediately  available  funds,  an  amount  equal to the  purchase  price of the
Assigned Interest as agreed upon by Assignor and Assignee.

         3.  Assignor  and  Assignee  agree  that  all  payments  of  principal,
interest,  fees and other amounts in respect of the Assigned  Interest  accruing
from and after the Effective Date shall be for the account of Assignee,  and all
payments of such amounts in respect of the Assigned  Interest  accruing prior to
the  Effective  Date shall  remain for the  account of  Assignor.  Assignor  and
Assignee  hereby agree that if either receives any payment of such amounts which
is for the account of the other,  it shall hold the same in trust for such party
and shall promptly pay the same to such party.

         4.       Assignor represents and warrants to Assignee that:

                  (a) Assignor is the legal and beneficial owner of the Assigned
        Interest,  and the  Assigned  Interest  is free and clear of any adverse
        claim;

                  (b) The Assigned  Interest  listed on Annex 1  accurately  and
        completely sets forth the amount of all Outstanding Obligations relating
        to the Assigned Interest as of the Effective Date;

                  (c) It has the power  and  authority  and the  legal  right to
        make,  deliver  and  perform,  and has taken all  necessary  action,  to
        authorize the execution, delivery and performance of this Assignment and
        Acceptance,  and  any  and  all  other  documents  delivered  by  it  in
        connection  herewith  and  to  fulfill  its  obligations  under,  and to
        consummate the transactions contemplated by, this

                             Exhibit D to the 364-Day Revolving Credit Agreement

                                       1
<PAGE>

        Assignment  and  Acceptance  and the Loan  Documents,  and no consent or
        authorization  of,  filing  with,  or other act by or in  respect of any
        Governmental Authority, is required in connection in connection herewith
        or therewith; and

                  (d) This  Assignment  and  Acceptance  constitutes  the legal,
         valid and binding obligation of Assignor.

         Assignor   makes  no   representation   or  warranty   and  assumes  no
responsibility  with  respect to the  financial  condition  of  Borrower  or the
performance by Borrower of its obligations under the Loan Documents, and assumes
no responsibility with respect to any statements,  warranties or representations
made under or in connection  with any Loan Document or the execution,  legality,
validity, enforceability, genuineness, sufficiency or value of any Loan Document
other than as expressly set forth above.

         5.  Assignee  represents  and warrants to Assignor  and  Administrative
         Agent that:

            (a) It is eligible to purchase  the  Assigned  Interest  pursuant to
         Section 10.04 of the Agreement;

            (b) It has the power  and  authority  and the  legal  right to make,
         deliver and perform,  and has taken all necessary  action, to authorize
         the  execution,   delivery  and  performance  of  this  Assignment  and
         Acceptance,  and  any  and  all  other  documents  delivered  by  it in
         connection  herewith  and to  fulfill  its  obligations  under,  and to
         consummate  the  transactions  contemplated  by,  this  Assignment  and
         Acceptance and the Loan Documents,  and no consent or authorization of,
         filing  with,  or  other  act  by or in  respect  of  any  Governmental
         Authority,   is  required  in  connection  in  connection  herewith  or
         therewith;

            (c) This Assignment and Acceptance  constitutes the legal, valid and
         binding obligation of Assignee;

            (d) Under  applicable Laws no tax will be required to be withheld by
         Administrative  Agent or Borrower  with  respect to any  payments to be
         made to Assignee hereunder or under any Loan Document,  and prior to or
         concurrently with Administrative Agent's receipt of this Assignment and
         Acceptance,  Assignee  has  delivered to  Administrative  Agent any tax
         forms required by Section 10.20 of the Agreement; and

            (e)  Assignee has received a copy of the  Agreement,  together  with
         copies  of the most  recent  financial  statements  delivered  pursuant
         thereto,  and such other  documents  and  information  as it has deemed
         appropriate to make its own credit  analysis and decision to enter into
         this Assignment and Acceptance.  Assignee has independently and without
         reliance  upon  Assignor  or  Administrative  Agent  and  based on such
         information  as Assignee  has deemed  appropriate,  made its own credit
         analysis  and  decision to enter into this  Agreement.  Assignee  will,
         independently  and without  reliance upon  Administrative  Agent or any
         Lender,  and based upon such documents and information as it shall deem
         appropriate at the time,  continue to make its own credit  decisions in
         taking or not taking action under the Agreement.

         6. Assignee appoints and authorizes  Administrative  Agent to take such
action as agent on its behalf and to exercise such powers and  discretion  under
the  Agreement,  the other Loan  Documents or any

                             Exhibit D to the 364-Day Revolving Credit Agreement

                                        2

<PAGE>

other  instrument  or  document  furnished  pursuant  hereto or  thereto  as are
delegated  to  Administrative  Agent by the terms  thereof,  together  with such
powers as are incidental thereto.

         7. If either Assignee or Assignor desires a Note to evidence its Loans,
it shall request Administrative Agent to procure a Note from Borrower.

         8.  Assignor  and  Assignee  agree to execute  and  deliver  such other
instruments,  and take such other action, as either party may reasonably request
in  connection  with  the  transactions  contemplated  by  this  Assignment  and
Acceptance.

         9. This  Assignment and  Acceptance  shall be binding upon and inure to
the benefit of the parties and their respective successors and assigns; provided
however,  that  Assignee  shall not assign its rights or  obligations  hereunder
without the prior  written  consent of Assignor  and any  purported  assignment,
absent such consent, shall be void.

         10.  This  Assignment  and  Acceptance  may be  executed  by  facsimile
signatures  with the same  force and  effect as if  manually  signed  and may be
executed in one or more counterparts, each of which shall be deemed an original,
but all of which together shall  constitute  one and the same  instrument.  This
Assignment and Acceptance  shall be governed by and construed in accordance with
the laws of the state specified in the Agreement.

         11. The effectiveness of the assignment described herein is subject to:

                  (a) If such consent is required by the Agreement, Assignor and
         Assignee obtaining the consent of Administrative  Agent and Borrower to
         the  assignment   described  herein.  By  delivering  a  copy  of  this
         Assignment  and  Acceptance  to  Administrative   Agent,  Assignor  and
         Assignee  hereby  request any such  required  consent and request  that
         Administrative  Agent register Assignee as a Lender under the Agreement
         effective as of the Effective Date.

                  (b) Receipt by Administrative  Agent of (or other arrangements
         acceptable  to  Administrative  Agent with  respect to) any  applicable
         assignment fee referred to in Section 10.04(c) of the Agreement and any
         tax forms required by Section 10.20 of the Agreement.

         By signing below, Administrative Agent agrees to register Assignee as a
Lender under the  Agreement,  effective as of the Effective Date with respect to
the Assigned  Interest and will adjust the registered Pro Rata Share of Assignor
under the Agreement to reflect the assignment of the Assigned Interest.

         12.  Attached  hereto as Annex 2 is all contact,  address,  account and
other administrative information relating to Assignee.

                             Exhibit D to the 364-Day Revolving Credit Agreement

                                        3

<PAGE>

         IN WITNESS WHEREOF,  the parties hereto have caused this Assignment and
Acceptance to be executed as of the date first above written by their respective
duly authorized officers.

                                             Assignor:

                                             By:
                                                  ------------------------------
                                             Name:
                                                    ----------------------------
                                             Title:
                                                     ---------------------------

                                             Assignee:

[__]  Tax forms required by
                                             -----------------------------------
      Section 10.20 of the Agreement
      included
                                             By:
                                                  ------------------------------
                                             Name:
                                                    ----------------------------
                                             Title:
                                                     ---------------------------

(Signatures continue)

                             Exhibit D to the 364-Day Revolving Credit Agreement

                                        4

<PAGE>

In  accordance  with and subject to Section 10.04 of the Credit  Agreement,  the
undersigned consent to the foregoing assignment as of the Effective Date:

COMCAST CABLE COMMUNICATIONS, INC.

By:
     ------------------------------------------------
Name:
       -------------------------------------
Title:
        ---------------------------------------------

BANK OF AMERICA, N.A.,
as Administrative Agent

By:
     ------------------------------------------------
Name:
       -------------------------------------
Title:
        ---------------------------------------------

                             Exhibit D to the 364-Day Revolving Credit Agreement

                                        5

<PAGE>

                      ANNEX 1 TO ASSIGNMENT AND ACCEPTANCE

                              THE ASSIGNED INTEREST

Effective Date: ______________________

                      Amount of Outstanding Obligations
 Assigned Commitment              assigned               Assigned Pro Rata Share
--------------------------------------------------------------------------------
$                           $                                            %

                             Exhibit D to the 364-Day Revolving Credit Agreement

                                        6

<PAGE>

                      ANNEX 2 TO ASSIGNMENT AND ACCEPTANCE

                             ADMINISTRATIVE DETAILS

 (Assignee to list names of credit contacts, addresses, phone and facsimile
     numbers, electronic mail addresses and account and payment information)

                             Exhibit D to the 364-Day Revolving Credit Agreement

                                        7

<PAGE>

                                    EXHIBIT E

                     FORM OF OPINION OF COUNSEL TO BORROWER

August 24, 2000

To the Lenders party to the 364-Day Revolving Credit Agreement
referred to below, and to Bank of America, N.A.,
as Administrative Agent thereunder

We have  acted as  counsel to Comcast  Cable  Communications,  Inc.,  a Delaware
corporation  ("Borrower")  in  connection  with  the  364-Day  Revolving  Credit
Agreement (the "Credit  Agreement") dated as of August 24, 2000, among Borrower,
the Lenders party thereto, and Bank of America,  N.A., as Administrative  Agent.
Except as otherwise  provided herein,  terms defined in the Credit Agreement are
used herein as defined therein.  This opinion letter is being delivered pursuant
to Section 4.01(a)(vi) of the Credit Agreement.

In rendering  the  opinions  expressed  below,  we have  examined the  following
agreements, instruments and other documents:

         (a)      the Credit Agreement;

         (b)      the Notes payable to Lenders requesting them; and

         (c)      a good standing  certificate  issued by the Secretary of State
                  of the  State of  Delaware  on  August  14,  2000  (the  "Good
                  Standing Certificate"), a certified copy of resolutions of the
                  Board of Directors of the Borrower, dated August 11, 2000 (the
                  "Resolutions"),  a  certified  copy  of  the  by-laws  of  the
                  Borrower (the  "Bylaws"),  a certified copy of the Certificate
                  of  Incorporation  of the Borrower  issued by the Secretary of
                  State  of the  State of  Delaware  on  August  14,  2000  (the
                  "Charter"),  a Certificate  of the Assistant  Secretary of the
                  Borrower,  dated as of the date hereof, with the signatures of
                  the  authorized  officers  of the  Borrower  (the  "Incumbency
                  Certificate")  and such records of the Borrower and such other
                  documents  as we have  deemed  necessary  as a  basis  for the
                  opinions expressed below.

The agreements and instruments referred to in the foregoing lettered clauses (a)
and (b) are collectively referred to as the "Loan Documents."

In our  examination,  we have assumed the  genuineness of all signatures  (other
than those of Borrower),  the  authenticity of all documents  submitted to us as
originals and the conformity with authentic  original documents of all documents
submitted  to  us  as  copies.   When  relevant  facts  were  not  independently
established,  we have relied upon statements of governmental  officials and upon
representations  made in or pursuant to the Loan Documents and  certificates  of
appropriate representatives of Borrower.

Based  upon and  subject  to the  foregoing  and  subject  to the  comments  and
qualifications  hereto,  and having  considered such questions of law as we have
deemed  necessary as a basis for the  opinions  expressed  below,  we are of the
opinion that:

                             Exhibit E to the 364-Day Revolving Credit Agreement

                                        1

<PAGE>

                  1. Borrower is a corporation duly organized,  validly existing
         and in good standing under the laws of the State of Delaware.  Borrower
         has all  requisite  corporate  power  and  authority  to  carry  on its
         business as now conducted as described in its most recent Annual Report
         on Form 10-K filed with the  Securities  and Exchange  Commission  (the
         "10-K").

                  2.  Borrower  has all  requisite  corporate  power to execute,
         deliver, and perform its obligations under the Loan Documents.

                  3. The execution, delivery, and performance by Borrower of the
         Loan  Documents  have been duly  authorized by all necessary  corporate
         action on the part of Borrower.

                  4. Each Loan  Document has been duly executed and delivered by
         Borrower.

                  5. The Loan Documents  constitute the legal, valid and binding
         obligations  of Borrower,  enforceable  against  Borrower in accordance
         with their  respective  terms,  except as may be limited by bankruptcy,
         insolvency, reorganization,  fraudulent conveyance, moratorium or other
         similar laws relating to or affecting the rights of creditors generally
         and except as the  enforceability  of the Loan  Documents is subject to
         the application of general  principles of equity (regardless of whether
         considered  in a proceeding  in equity or at law),  including,  without
         limitation,  (a) the possible  unavailability of specific  performance,
         injunctive  relief or any other  equitable  remedy and (b)  concepts of
         materiality, reasonableness, good faith and fair dealing.

                  6. The execution,  delivery and performance by Borrower of the
         Loan  Documents (a) will not violate any  applicable Law or the Charter
         or  Bylaws  of  Borrower  or,  to  our  knowledge,  any  order  of  any
         Governmental  Authority,  (b) to our  knowledge,  will not  result in a
         default  under any material  indenture,  agreement or other  instrument
         binding upon Borrower or its assets, and (c) to our knowledge, will not
         result  in the  creation  or  imposition  of any  Lien on any  asset of
         Borrower.

                  7. We have no knowledge of any litigation,  investigation,  or
         proceeding  of or before an arbitrator  or  Governmental  Authority now
         pending  against or  threatened  against  Borrower  that, if determined
         adversely, has a Material Adverse Effect.

                  8. Borrower is not an  "investment  company" as defined in, or
         subject to registration under, the Investment Company Act of 1940.

                  9.  Borrower  is not a  "holding  company,"  or a  "subsidiary
         company"  of a  "holding  company"  or  an  "affiliate"  of a  "holding
         company" or of a "subsidiary  company" of a "holding  company,"  within
         the meaning of the Public Utility Act of 1935.

Our opinions  expressed above are limited to matters  involving the Federal Laws
of the United States of America,  the laws of the  Commonwealth of Pennsylvania,
the  laws of the  State  of New  York  and the  corporate  laws of the  State of
Delaware subject to the following.

         To the  extent  that this  opinion is based on the laws of the State of
         New York, we have,  with your  permission,  relied  exclusively  on the
         opinion of Howe & Addington  LLP, a copy of which is  attached  hereto,
         and  any  opinion  herein  based  on New  York  law is  subject  to the
         qualifications and limitations set forth in such opinion.  Further,  we
         express  no  opinion  concerning  (1) the  effects of any local law and
         regulation, or (2) federal or state laws, rules

                             Exhibit E to the 364-Day Revolving Credit Agreement

                                        2

<PAGE>

         or regulations  governing securities or "blue sky", antitrust or unfair
         competition,  compliance with fiduciary duty,  environmental liability,
         or any  regulated  aspect  of the  communications  business,  including
         without limitation, the Federal Communications Act.

When any opinion is subject to the  qualification "to our knowledge" or words of
similar  import,  it means that no one in the Primary  Lawyer  Group (as defined
below) has actual knowledge of facts which are contrary to the opinion rendered,
without having undertaken independent  investigation or verification of any such
facts.  The  words  "actual  knowledge"  mean the  conscious  attention  to such
information  by the Primary  Lawyer  Group.  The phrase  "Primary  Lawyer Group"
includes only  attorneys  who are currently  members of or employed by this firm
who have been  involved  in the  preparation  of this  letter or involved in the
representation  of the Borrower in connection with the  transaction  that is the
subject of this letter.

The opinions  set forth above are subject to the  following  qualifications  and
limitations:

         (A) We have assumed the legal capacity of all individuals executing any
of the Loan Documents.

         (B) We express no opinion as to the enforceability of any provisions in
any  Loan  Document  imposing  penalties,  forfeitures,  late  payment  charges,
prepayment  premiums,  or an increase in interest rate upon the  occurrence of a
default  or an  event of  default  to the  extent  the  same  are  deemed  to be
unenforceable penalties.

         (C) We express no opinion as to the  enforceability of any provision of
any Loan Document which is intended to permit modification thereof only by means
of any agreement in writing by the parties thereto;

         (D) We  express  no  opinion  as to the  enforceability  of  provisions
contained in any Loan  Document  which  purport to constitute or provide for the
waiver and release of any rights, claims, defenses, counterclaims or remedies of
the  Borrower  to the  extent  such  waiver or  release  may not be given  under
applicable law.

         (E) We  express  no  opinion  concerning  the  financial  condition  or
solvency of the Borrower, nor do we express any opinion concerning the effect of
any action,  suit,  proceeding,  litigation or transaction  (including,  without
limitation,  the transactions  contemplated in the Credit Agreement) upon either
(1) the financial condition of the Borrower or (2) any financial covenants which
the Borrower may have agreed to in the Loan Documents.

         (F) We express no opinion as to the  enforceability of any provision of
any  Loan  Document  to the  extent  such  provision  constitutes  a  waiver  of
illegality as a defense to performance of contract obligations.

         (G) The opinion set forth in the first sentence of paragraph 1 above is
based on our review of the Good Standing Certificate.  The opinions set forth in
paragraphs  2 and 3 above  are  based  on our  review  of the  Charter,  Bylaws,
Resolutions and applicable law. The opinion set forth in paragraph 4 is based on
our review of the  Charter,  Bylaws,  Resolutions,  Incumbency  Certificate  and
applicable  law. The  opinions set forth in  paragraphs 7 and 9 are based on our
review of the 10-K and  applicable  law. The opinion set forth in paragraph 8 is
based on our review of the 10-K, Comcast Corporation's most recent Annual Report
on Form 10-K filed with the  Securities  and Exchange  Commission and applicable
law.

                             Exhibit E to the 364-Day Revolving Credit Agreement

                                        3

<PAGE>

         (H) No  opinion is  expressed  as to the  enforceability  of any of the
following  kinds  of  provisions  in the  Loan  Documents:  (1)  provisions  for
self-help except as permitted by applicable law; (2) provisions which purport to
establish  evidentiary  standards;  (3) provisions relating to the non-waiver of
your rights; (4) provisions containing powers of attorney;  (5) provisions which
would  provide  for  interest  in excess of the  "legal  rate"  permitted  under
applicable  law;  and (6)  provisions  which  purport to create  obligations  to
indemnify you, except as permitted by applicable law.

The  foregoing   opinions  are  being  furnished   solely  for  the  benefit  of
Administrative  Agent, Lenders and any participants or assignees as specified in
Section 10.04 of the Credit  Agreement,  and may not be relied upon by any other
Person or for any other purpose without our written consent.

Very truly yours,

                             Exhibit E to the 364-Day Revolving Credit Agreement

                                        4

<PAGE>

STEVEN B. CALLAHAN                                           EDWIN A. HOWE, JR.
BRUCE E. HOOD                                                    SENIOR COUNSEL
ANNE L. STRASSNER                                     TELEPHONE: (212) 490-1700
ROBERT W. BENJAMIN                                          FAX: (212) 490-0536
ANDREW J. PAL                                                    (212) 490-2574
R. SCOTT GREATHEAD                                      E-MAIL: LAW@HOWEADD.COM
------------------                                    WEB SITE: WWW.HOWEADD.COM
CINDY G. FINE
R. ANDREW SHORE
STEPHANIE E. BUSLOFF

August 24, 2000

Drinker Biddle & Reath LLP
One Logan Square
18th and Cherry Streets
Philadelphia, Pennsylvania  19103

Re:  364-Day  Revolving  Credit  Agreement,  dated as of  August  24,  2000 (the
     "Credit Agreement"),  among Comcast Cable Communications,  Inc., a Delaware
     corporation  (the  "Borrower"),  the  Lenders  party  thereto  and  Bank of
     America, N. A., as Administrative Agent

Dear Ladies and Gentlemen:

We have  acted as  special  New York  counsel  to you in support of your role as
special counsel to the Borrower in connection with the execution and delivery of
the Credit Agreement. Unless otherwise indicated, capitalized terms used but not
defined  herein  shall  have the  respective  meanings  set forth in the  Credit
Agreement.

In connection with this opinion,  we have examined the Credit  Agreement and the
Notes (collectively,  the "Loan Documents") in a form that you have confirmed to
us has been  signed  by all  parties  thereto.  We also  have  made  such  other
investigations  as we have deemed  relevant and necessary in connection with the
opinions expressed herein. In addition, we have examined,  and have relied as to
matters of fact upon, the representations made in the Loan Documents.

In rendering the opinion set forth below, we have assumed the genuineness of all
signatures,  the legal  capacity of natural  persons,  the  authenticity  of all
documents submitted to us as originals,  the conformity to original documents of
all documents  submitted to us as  duplicates or certified or conformed  copies,
and the authenticity of the originals of such latter documents.

In rendering  the opinion set forth below,  we have assumed that (1) each of the
Loan Documents is a valid and legally binding  obligation of each of the Lenders
party thereto and Bank of America,  N.A., as Administrative Agent (collectively,
"Addressees")  and (2)(a) the Borrower is validly  existing and in good standing
under the laws of Delaware and has duly  authorized,  executed and delivered the
Loan Documents in accordance with its Certificate of Incorporation,  By-Laws and
applicable  resolutions  of  its  stockholders  and  board  of  directors,   (b)
execution,  delivery and  performance by the Borrower of the Loan Documents does

                             Exhibit E to the 364-Day Revolving Credit Agreement

                                        5

<PAGE>

not violate the laws of Delaware or any other  applicable  laws  (excepting  the
laws of the State of New York) and (c)  execution,  delivery and  performance by
the Borrower of the Loan Documents does not constitute a breach or violation of,
or result in, or require,  the creation or  imposition  of, any Lien under,  any
contract,  agreement or instrument  which is binding upon the Borrower.  As used
herein,  the term  "Requirement of Law" shall mean, and shall be limited to, the
laws of the State of New York that in our experience are normally  applicable to
general business  corporations  and to transactions of the type  contemplated by
the Loan Documents.

Based upon and subject to the foregoing,  and subject to the  qualifications and
limitations set forth herein, we are of the opinion that:

         1.  The  Loan  Documents   constitute  the  legal,  valid  and  binding
obligations of the Borrower, enforceable against the Borrower in accordance with
their respective terms.

         2. The execution  and delivery by the Borrower of, and the  performance
by the  Borrower  of its  obligations  under,  the Loan  Documents  (a) does not
violate  any  Requirement  of  Law  or,  to  our  knowledge,  any  order  of any
Governmental  Authority of the State of New York and (b) to our knowledge,  will
not result in, or require,  the creation or imposition of any Lien on any of the
Borrower's  properties  or  revenues  pursuant to any such  Requirement  of Law,
except to the extent that all such  violations  and  creation or  imposition  of
Liens could not, in the aggregate, have a Material Adverse Effect.

         3. We have no knowledge of any litigation,  investigation or proceeding
of or before an arbitrator or  Governmental  Authority of or in the State of New
York now pending or threatened  against Borrower that, if determined  adversely,
would have a Material Adverse Effect.

Our  opinion  set forth  above is  subject  to (i) the  effects  of  bankruptcy,
insolvency, fraudulent conveyance, reorganization,  moratorium and other similar
laws  relating  to  or  affecting  creditors'  rights  generally,  (ii)  general
equitable  principles  (whether  considered in a proceeding in equity or at law)
and (iii) an implied covenant of good faith and fair dealing.

         We express no opinion with respect to:

         (1) The  enforceability of any provisions in any Loan Document imposing
penalties,  forfeitures,  late  payment  charges,  prepayment  premiums,  or  an
increase in the interest  rate upon the  occurrence  of a default or an event of
default to the extent the same are deemed to be unenforceable penalties;

         (2) The  enforceability  of any provision of any Loan Document which is
intended  to  permit  modification  thereof  only by means of any  agreement  in
writing by the parties thereto;

         (3) The  enforceability  of  provisions  contained in any Loan Document
which purport to constitute or provide for the waiver and release of any rights,
claims, defenses, counterclaims or remedies of the Borrower;

         (4) The  financial  condition  or solvency of the  Borrower,  nor do we
express  any opinion  concerning  the effect of any  action,  suit,  proceeding,
litigation or  transaction  (including,  without  limitation,  the  transactions
contemplated in the Credit Agreement) upon either (a) the financial condition of
the Borrower or (b) any financial  covenants  which the Borrower may have agreed
to in the Loan Documents;

                             Exhibit E to the 364-Day Revolving Credit Agreement

                                        6

<PAGE>

         (5) The  enforceability  of any  provision of any Loan  Document to the
extent that such  provision  constitutes  a waiver of illegality as a defense to
performance of contract obligations;

         (6) The  enforceability  of any of the following kinds of provisions in
the Loan  Documents:  (a)  provisions  for  self-help  except  as  permitted  by
applicable law; (b) provisions which purport to establish evidentiary standards;
(c)  provisions  relating to the non-waiver of any of  Addressee's  rights;  (d)
provisions containing powers of attorney; (e) provisions which would provide for
interest in excess of the "legal rate" permitted  under  applicable law; and (f)
provisions  which purport to create  obligations  to indemnify  the  Addressees,
except as permitted by applicable law;

         (7) Federal or state laws, rules or regulations  governing  securities,
antitrust or unfair competition,  compliance with fiduciary duty,  environmental
liability or any regulated aspect of the communications business.

Our opinions  expressed  herein are limited to the  Requirements of Law (without
our having made any  investigation  as to any other laws), and we do not express
any opinion herein concerning any other laws.

This opinion  letter is rendered to you in connection  with the  above-described
transaction.  This opinion  letter may not be relied upon by you for any purpose
other than to the extent  necessary  for purposes of  rendering  your opinion of
even date herewith to the Addressees in connection with the Loan Documents,  nor
may this opinion letter be relied upon by any other person,  firm or corporation
without our prior written consent.

The opinions set forth herein are as of the date hereof,  and we hereby disclaim
any  obligation to advise you of any change in any matter set forth herein which
may hereafter arise.

Very truly yours,

Howe & Addington LLP

                             Exhibit E to the 364-Day Revolving Credit Agreement

                                        7

<PAGE>
                                  SCHEDULE 2.01

                                   COMMITMENTS
                               AND PRO RATA SHARES

<TABLE>
<CAPTION>

                                Lender                                         Commitment             Pro Rata Share
<S>                                                                         <C>                       <C>
Bank of America, N.A.                                                       $190,125,000.00           8.4500000000%
The Chase Manhattan Bank                                                    $190,125,000.00           8.4500000000%
The Bank of New York                                                        $190,125,000.00           8.4500000000%
Citibank, N.A.                                                              $190,125,000.00           8.4500000000%
Barclays Bank PLC                                                           $126,750,000.00           5.6333333333%
First Union National Bank                                                   $126,750,000.00           5.6333333333%
The Industrial Bank of Japan, Limited                                       $126,750,000.00           5.6333333333%
Toronto Dominion (Texas), Inc.                                              $126,750,000.00           5.6333333333%
The Bank of Nova Scotia                                                      $75,000,000.00           3.3333333333%
Deutsche Bank AG New York Branch and/or Cayman                               $75,000,000.00           3.3333333333%
Islands Branch
Fleet National Bank                                                          $75,000,000.00           3.3333333333%
PNC Bank, National Association                                               $75,000,000.00           3.3333333333%
The Sumitomo Bank, Limited                                                   $75,000,000.00           3.3333333333%
SunTrust Bank                                                                $75,000,000.00           3.3333333333%
Westdeutsche Landesbank Girozentrale, New York Branch                        $75,000,000.00           3.3333333333%
Mellon Bank, N.A.                                                            $50,000,000.00           2.2222222222%
Bayerische Landesbank Girozentrale, Cayman Islands Branch                    $37,500,000.00           1.6666666667%
Morgan Guaranty Trust Company of New York                                    $37,500,000.00           1.6666666667%
Lehman Commercial Paper Inc.                                                 $37,500,000.00           1.6666666667%
Lloyds TSB Bank plc                                                          $37,500,000.00           1.6666666667%
Merrill Lynch Capital Corporation                                            $37,500,000.00           1.6666666667%
The Sanwa Bank, Ltd., New York Branch                                        $30,000,000.00           1.3333333333%
Arab Bank Plc                                                                $25,000,000.00           1.1111111111%
Bank One, NA                                                                 $25,000,000.00           1.1111111111%

                                                            Schedule 2.01 to the 364-Day Revolving Credit Agreement

                                        1

<PAGE>

                                Lender                                         Commitment             Pro Rata Share
Dresdner Bank AG, New York and Grand Cayman Branches                         $25,000,000.00           1.1111111111%
The Norinchukin Bank, New York Branch                                        $25,000,000.00           1.1111111111%
Allfirst Bank                                                                $17,500,000.00           0.7777777778%
BNP Paribas                                                                  $15,000,000.00           0.6666666667%
Credit Suisse First Boston                                                   $12,500,000.00           0.5555555556%
Summit Bank                                                                  $12,500,000.00           0.5555555556%
The Tokai Bank, Limited, New York Branch                                     $12,500,000.00           0.5555555556%
U.S. Bank National Association                                               $12,500,000.00           0.5555555556%
First Tennessee Bank National Association                                     $7,500,000.00           0.3333333333%
Total                                                                     $2,250,000,000.00                100.00%

                                                            Schedule 2.01 to the 364-Day Revolving Credit Agreement
                                        2

<PAGE>

                                  SCHEDULE 4.01

                            INDEBTEDNESS TO BE REPAID

                                                                     Outstanding Amount
                                                                     at August 24, 2000
Comcast SCH Holdings, Inc. Credit Facility                            $550,000,000.00
Comcast MH Holdings, Inc. Credit Facility                              572,000,000.00
Jones Cable Holdings, Inc. Credit Facility                             388,000,000.00
Jones Cable Holdings II, Inc. Credit Facility                          554,000,000.00
Garden State Cablevision, L.P. Credit Facility                         286,000,000.00
TOTAL INDEBTEDNESS TO BE REPAID                                     $2,350,000,000.00

                                                            Schedule 4.01 to the 364-Day Revolving Credit Agreement

                                        1

<PAGE>

                                  SCHEDULE 7.01

                                 EXISTING LIENS

                                                             Outstanding Amount Secured
                                                                  at August 24, 2000
Lenfest Capital Leases (Various Subs)                              $1,053,022.00
Holdings - P.C. Building Leases                                       616,769.00
Jones Intercable Car Leases (Various Subs)                            550,982.00
Prime Potomac Capital Leases                                        1,262,943.00
Prime Chicago Capital Leases                                        1,613,134.00
TOTAL OUTSTANDING LIENS                                            $5,096,850.00

                                                            Schedule 7.01 to the 364-Day Revolving Credit Agreement

                                        1

<PAGE>

                                  SCHEDULE 7.02

                        EXISTING SUBSIDIARY INDEBTEDNESS

                                                                              Outstanding Amount
                                                                              at August 24, 2000
Lenfest AUL Loan                                                                $2,687,812.00
Lenfest Capital Leases (Various Subs)                                            1,053,022.00
Prime Potomac Letter of Credit                                                  61,314,840.80
Prime Potomac Capital Leases                                                     1,262,943.00
Prime Chicago Capital Leases                                                     1,613,134.00
TOTAL SUBSIDIARY INDEBTEDNESS                                                  $67,931,751.80

                                                            Schedule 7.02 to the 364-Day Revolving Credit Agreement
</TABLE>

                                        1

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