Shaw Declares Monthly Dividends

CALGARY, ALBERTA, Oct 23 (MARKET WIRE) --
Shaw Communications Inc. (TSX: SJR.B) (NYSE: SJR) ("Shaw") announced
today that its Board of Directors has declared monthly dividends of
$0.066666 on Shaw's Class B Non-Voting Participating Shares and $0.066458
on Shaw's Class A Participating Shares, payable on each of December 30,
2008, January 29, 2009 and February 26, 2009 to all holders of record at
the close of business December 15, 2008, January 15, 2009 and February
15, 2009, 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, telecommunications services (through Shaw
Business Solutions) and satellite direct-to-home services (through Star
Choice). The Company serves 3.4 million customers, including over 1.5
million Internet and 610,000 residential 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).

Contacts:
Shaw Communications Inc.
Investor Relations
Email: Investor.relations@sjrb.ca
Website: www.shaw.ca

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