Cabletel Announces Progress in Efforts to Renegotiate Payment Terms of Senior Subordinated Promissory Note.

Business Editors

MARKHAM, Ontario--(BUSINESS WIRE)--Sept. 24, 2003

Cabletel Communications Corp. (AMEX: TTV; TSE: TTV), the leading distributor of broadband equipment to the Canadian television and telecommunications industries, announced that it is progressing with its negotiations regarding the restructuring of the payment terms of its US $2.2 million senior subordinated promissory note issued to one of its major suppliers. As a result, it has obtained the consent of the payee to make reduced payments on the note through September 30, 2003 while negotiations are continuing.

Ron Eilath, Chief Financial Officer of Cabletel, stated, " Negotiations with the holder of the note and our senior lenders have been positive and, although no assurances can be given that a successful restructuring will be agreed upon, we are encouraged by the progress we have made and are hopeful that a restructuring of the note will be completed shortly."

Cabletel Communications offers a wide variety of products to the Canadian television and telecommunications industries required to construct, build, maintain and upgrade systems. The Company's engineering division offers technical advice and integration support to customers. Stirling Connectors, Cabletel's manufacturing division supplies national and international clients with proprietary products for deployment in cable, DBS and other wireless distribution systems. More information about Cabletel can be found at www.cabletelgroup.com.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including weakness in the Company's market, more restrictive payment terms from suppliers, requirements imposed by the Company's creditors, increased competition; the ability of the Company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence; general economic conditions; and other risks detailed time to time in the Company's filings with the Securities and Exchange Commission.