Shaw Announces C$600 Million Senior Note Offering

CALGARY, ALBERTA, Mar 24 (MARKET WIRE) --
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 www.sec.gov.
A copy of the Canadian prospectus supplement is available from the
Canadian Securities Administrators at www.sedar.com.

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).

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

Copyright 2009, Market Wire, All rights reserved.

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