Shaw Communications Inc.

Shaw Communications Inc.

October 02, 2009 17:00 ET

Shaw Announces Redemption of 7.20% U.S. Dollar Senior Notes Due December 15, 2011

CALGARY, ALBERTA--(Marketwire - Oct. 2, 2009) – Shaw Communications Inc. (TSX:SJR.B) (NYSE:SJR) announced today that it intends to redeem all of its outstanding U.S.$300 million 7.20% Senior Notes due December 15, 2011. The CUSIP number of the Senior Notes is 82028K AH4.

The redemption date will be October 20, 2009. The redemption price, being the Redemption Price as defined in the indenture governing the Senior Notes (which includes accrued and unpaid interest thereon to, but excluding, the redemption date), will be payable in cash in accordance with the terms of the Senior Notes and the aforementioned indenture.

This news release is for informational purposes only and is not an offer to buy any securities of Shaw Communications Inc.

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 Shaw Direct). The Company serves 3.4 million customers, including over 1.6 million Internet and 775,000 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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