Shaw Announces Second Quarter Subscriber Results and Reconfirms Full Year Financial Guidance

CALGARY, ALBERTA, Mar 24 (MARKET WIRE) --
Shaw Communications Inc. (TSX: SJR.B) (NYSE: SJR) today announced
subscriber results for the second quarter ended February 28, 2009.
Subscriber growth in the quarter was solid. Basic cable subscribers
increased 4,273 to 2,273,904, Digital and Internet customers grew by
106,489 to 1,076,373 and 26,130 to 1,626,334, respectively, and Digital
Phone lines were up 50,848 to 719,376. DTH customers increased 3,657 to
896,633.

Subscriber Highlights
Growth
--------------------
Three Six
months months
Total balances as at ended ended
--------------------- --------- ----------
February August February February
28, 31, 28, 28,
2009 2008 (1) 2009 2009
----------------------------------------------------------------------------
Subscriber statistics:
Basic cable customers 2,273,904 2,260,433 4,273 13,471
Digital customers 1,076,373 909,167 106,489 167,206
Internet customers (including
pending installs) 1,626,334 1,569,052 26,130 57,282
DTH customers 896,633 892,528 3,657 4,105
Digital phone lines (including
pending installs) 719,376 611,931 50,848 107,445
----------------------------------------------------------------------------

(1) August 31, 2008 figures are restated for comparative purposes as if the
acquisition of the Campbell River cable system in British Columbia had
occurred on that date.

Chief Executive Officer and Vice Chair Jim Shaw commented "Our
subscriber results for the quarter were strong, demonstrating the
resilience of our business and strength of our strategy in the face of
weaker economic conditions. Our Digital growth continues to gain
momentum, with a record quarterly gain of over 100,000 customers. We
recently enhanced internet speeds, increasing the speed of all High Speed
products by 50% or greater; launched High Speed Nitro, a new 100 Mbps
service; and, increased our people power to further enhance our ability
to provide customers leading edge products and exceptional service. The
strength of our customer service and technology platform are key
competitive advantages for the Company and we remain on track to achieve
our financial guidance for fiscal 2009, which includes generating free
cash flow of at least $500 million."

These subscriber results are provided for information purposes only. The
increase in Digital customers should not be used to infer or expect a
material growth in financial results in the quarter. Shaw Communications
Inc. plans to release its unaudited second quarter financial results on
April 8, 2009.

The statement as to the Company's guidance is a forward-looking statement
and there are risks which may cause actual results to differ materially.
You should not place undue reliance on the guidance. Certain readers use
the guidance to assess the Company's expected operational and financial
performance and as an indicator of its ability to service debt and return
cash to shareholders. The guidance may not be appropriate for other
purposes. The guidance is based on assumptions about general economic and
industry growth rates, currency exchange rates, technology deployment,
content and equipment costs, and industry structure and stability and is
subject to factors that could cause actual results to be materially
different from the guidance, including, among others: general economic,
market or business conditions and industry trends; opportunities that may
be presented to and pursued by Shaw; Shaw's ability to execute its
strategic plans; changes in the competitive environment in the markets in
which Shaw operates and from the development of new markets for emerging
technologies; changing conditions in the entertainment, information and
communications industries; and changes in laws and regulations, political
and regulatory policies and decisions by regulators that affect Shaw or
the markets in which it operates. These and other assumptions and factors
are discussed in the Company's Management's Discussion and Analysis for
fiscal 2008 and for Q1 2009.

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).

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

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