Shaw Communications Inc.

Shaw Communications Inc.

April 13, 2007 08:25 ET

Shaw Announces 12% Increase in Dividend Rate

CALGARY, ALBERTA--(CCNMatthews - April 13, 2007) - Shaw Communications Inc. ("Shaw") (TSX:SJR.B) (NYSE:SJR) announced today that its Board of Directors has increased the equivalent annual dividend rate to $1.12 on Shaw's Class B Non-Voting Participating Shares and $1.115 on Shaw's Class A Participating Shares. This represents an increase of 12% or $0.12 per share. Shaw's dividends are declared and paid on a monthly basis and this increase will commence June 30, 2007.

Based upon this increase in the dividend rates, Shaw's Board of Directors declared monthly dividends of $0.0933333333 per Class B Non-Voting Participating Share and $0.0929166667 per Class A Participating Share, payable on each of June 30, 2007, July 31, 2007 and August 31, 2007 to all holders of record at the close of business on June 15, 2007, July 15, 2007 and August 15, 2007, respectively. The foregoing dividends are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.

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, telecommunication services (through Shaw Business Solutions) and satellite direct-to-home services (through Star Choice) to 3.2 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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