Shaw Communications Inc.

Shaw Communications Inc.

January 11, 2007 08:40 ET

Shaw Declares Monthly Dividends

CALGARY, ALBERTA--(CCNMatthews - Jan. 11, 2007) - Shaw Communications Inc. (TSX:SJR.B) (NYSE:SJR) announced today that its Board of Directors has declared monthly dividends of $0.0829166667 per Class A Participating Share and $0.0833333333 per Class B Non-Voting Participating Share, payable on each of March 30, 2007, April 30, 2007 and May 31, 2007 to all holders of record at the close of business March 15, 2007, April 15, 2007 and May 15, 2007, respectively.

Shaw's Board of Directors reviews the applicable dividend rates on a quarterly basis. Shareholders are entitled to receive dividends only when any such dividends are declared by Shaw's Board of Directors, and there is no entitlement to any dividend prior thereto.

Shaw Communications Inc. is a diversified communications company whose core business is providing broadband cable television, High-Speed Internet, Digital Phone, telecommunications services (through Shaw Business Solutions) and satellite direct-to-home services (through Star Choice) to 3.1 million customers. Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (TSX:SJR.B) (NYSE:SJR).

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