Shaw Announces Redemption by Shaw Media of 13.5% Senior Notes Due 2015

Shaw Communications Inc. SJR announced today that its subsidiary Shaw Media Inc. intends to redeem all of its outstanding US$260,380,000 face amount of 13.5% Senior Notes due 2015, which notes have a total Accrued Value of approximately US$282 million. The redemption date is August 15, 2011. The redemption price, equal to 106.75% of the Accrued Value of each note, is US$1,157.50 per US$1,000 face amount of Senior Notes.