CSII Update.

MONTREAL -- RSM Richer Inc. (formerly known as Richter & Associes Inc.), in its capacity as Monitor and Interim Receiver of Cable Satisfaction International Inc. ("CSII") (TSX:CSQ.SV.A), announced today the completion of the refinancing of the secured indebtedness of its subsidiary, Cabovisao-Televisao por Cabo, S.A ("Cabovisao"), with its banking syndicate.

As a result of this refinancing, all existing defaults under this secured indebtedness have been cured.

Moreover, Cabovisao also announced the nomination of three new members to its board of directors, which are the only members of the board, and their determination to implement CSII's Amended Plan, which was unanimously accepted by its creditors.

- President:      Gabriel De Alba
- Board Member:   Newton G.Z. Glassman
- Board Member:   Andre SEi Machado

CSII, with the support of Cabovisao's banking syndicate and of Catalyst Fund Limited Partnership I, the Amended Plan sponsor, is presently working to implement its Amended Plan, which provides, among other things, for no distribution to be made to the existing shareholders.As a result, the currently outstanding shares of CSII have no value under the Amended Plan.

The orders rendered under the CCAA in respect of CSII, the Monitor's reports and related materials can be obtained by requesting a copy from the Monitor by writing or calling the Monitor at the address and telephone number set out below or on the Monitor's website at www.rsmrichter.com and entering "Current insolvency files".

CSII, through its subsidiary Cabovisao, provides cable television services, high-speed Internet access, telephony and high-speed data transmission services to homes and businesses in Portugal through a single network connection.

Cable Satisfaction International Inc. (TSX:CSQ.SV.A)