Shaw Announces Closing of 30-Year C$650 Million Senior Note Offering

CALGARY, ALBERTA, Nov 09 (MARKET WIRE) --
Shaw Communications Inc. ("Shaw") (TSX: SJR.B) (NYSE: SJR) announced
today that it has closed its offering of C$650 million principal amount
of 6.75% senior unsecured notes due 2039. The senior notes were made
available in Canada and the United States, under Shaw's previously filed
shelf prospectus, pursuant to an agency agreement with TD Securities Inc.
and RBC Dominion Securities Inc. acting as co-lead agents.

The net proceeds of this offering will be used for general corporate
purposes, working capital, capital expenditures and wireless investments.

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 over 3.4 million customers, including over
1.7 million Internet and 850,000 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
investor.relations@sjrb.ca

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