Shaw Communications Inc.

Shaw Communications Inc.

March 24, 2009 16:33 ET

Shaw Announces C$600 Million Senior Note Offering

CALGARY, ALBERTA--(Marketwire - March 24, 2009) - Shaw Communications Inc. ("Shaw") (TSX:SJR.B) (NYSE:SJR) announced today the terms of an offering of C$600 million principal amount of 6.50% senior unsecured notes due 2014. The net proceeds of this offering will be used for debt repayment or redemption, including the Corporation's credit facility and all outstanding $130 million Videon Cablesystems Inc. 8.15% Senior Debentures due April 26, 2010, for working capital and for general corporate purposes. Closing is scheduled to occur on March 27, 2009.

The senior notes will be made available in Canada and the United States, under Shaw's previously filed shelf prospectus, through an underwriting syndicate led by TD Securities Inc.

A copy of the prospectus supplement may be obtained from TD Securities Inc., Attention: Debt Syndication, 222 Bay St., 7th Floor, Toronto, Ontario M5K 1A2. The U.S. prospectus supplement may also be accessed directly from the U.S. Securities and Exchange Commission at A copy of the Canadian prospectus supplement is available from the Canadian Securities Administrators at

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

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). The Company serves 3.4 million customers, including over 1.6 million Internet and 700,000 Digital Phone customers, through a reliable and extensive network, which comprises 625,000 kilometres of fibre. 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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