China Cablecom Provides Update on Notice of Default

SHANGHAI, May 11 /PRNewswire-FirstCall/ -- China Cablecom Holdings, Ltd.
("China Cablecom" or the "Company") (Nasdaq: CABL) (Nasdaq: CABLW) (Nasdaq:
CABLU), issued a status update regarding a previously announced notice of
default received from one of the lenders to its subsidiary, China Cablecom
Limited (the "Borrower"), relating to principle and interest obligations of
approximately $2.2 million due on April 19, 2009.

Based on the fact upon the above due date, the Company sought tolling
agreements from all of the holders of the promissory notes issued in
connection with the $20.0 million bridge financing that preceded the Company's
merger with Jaguar Acquisition Corporation that funds consisting of
outstanding principal amount together with any unpaid and accrued interest
(aggregating to approximately $11.0 million on the due date, including the
approximate $2.2 million owed to the lender mentioned above), had been made
available in a separate fund during the process of arranging for the
conversion of Renminbi in China. While most lenders provided such tolling
agreements, they were only effective until April 30, 2009 and as of today, the
full amount of principal, interest and penalty provisions are now due and
payable.

During the course of discussions with the holders of these promissory notes,
on the other hand, such holders expressed to the Company a strong preference
to have the Company restructure its debt obligations of its joint venture
partners with the Hubei state-owned enterprise in order to better reflect the
current economic environment and the anticipated cash flows of the Company's
cable television business. Accordingly, as of the date hereof none of such
lenders have commenced action against the Borrower, based in part on the
expectation that a comprehensive debt restructuring package will be proposed
for their approval in the coming weeks.

About China Cablecom

China Cablecom is a joint-venture provider of cable television services in the
People's Republic of China, operating in partnership with a local state-owned
enterprise ("SOE") authorized by the PRC government to control the
distribution of cable TV services through the deployment of analog and digital
cable services. In June 2008, China Cablecom consummated an agreement to
acquire a 60 percent economic interest in a cable network in Hubei province
with paying subscribers exceeding 800,000. The Company originally acquired
operating rights of the Binzhou Broadcasting network in Binzhou, Shandong
Province in September 2007 by entering into a series of asset purchase and
services agreements with a company organized by SOEs, owned directly or
indirectly by local branches of State Administration of Radio, Film and
Television in five different municipalities to serve as a holding company of
the relevant businesses. China Cablecom now operates 28 cable networks with
over 1.4 million paying subscribers. China Cablecom's strategy is to replicate
the acquisitions by operating partnership models in other municipalities and
provinces in the PRC and then introducing operating efficiencies and
increasing service offerings in the networks in which it operates.

Safe Harbor Statement

The matters discussed in this press release contain "forward-looking
statements" as defined in the Private Securities Litigation Reform Act of
1995. Forward-looking statements contained in this presentation and in the
Company's other written and oral reports are based on current Company
expectations and are subject to numerous risks, uncertainties and assumptions,
Any forward-looking statements are not guarantees of future performance and
actual results of operations, financial condition and liquidity.. The
forward-looking statements herein speak only as of the date stated herein and
might not occur or the actual results may differ materially in light of these
risks, uncertainties, and assumptions. The Company undertakes no obligation
and disclaims any obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise. You should carefully consider these factors, as well as the
additional risk factors outlined in the filings that the Company makes with
the U.S. Securities and Exchange Commission, including the Registration
Statement on Form S-1 filed on April 18, 2008.

CONTACT:
China Cablecom Holdings, Ltd.
Debra Chen
Phone: 917.499.8129
Email: debra@chinacablecom.net

SOURCE China Cablecom Holdings, Ltd.

Debra Chen of China Cablecom Holdings, Ltd., +1-917-499-8129,
debra@chinacablecom.net