CanWest, Shaw And Corus Resolve Issues On WIC.

WINNIPEG, Canada--(BUSINESS WIRE)--Oct. 15, 1999--

CanWest Global Communications Corp., Shaw Communications Inc., and Corus Entertainment Inc. announced today that they have reached a resolution of all of the commercial issues outstanding between them, and are finalizing definitive agreements as to the manner in which they will restructure their interests in WIC. All of the parties expect that definitive agreements will be executed by November 1, 1999.

The proposed restructuring of WIC would result in Shaw acquiring WIC's interest in Canadian Satellite Communications Inc. and Corus acquiring all of WIC's radio broadcasting stations, certain of its pay and specialty television undertakings and certain other related assets. CanWest will complete its acquisition of the remainder of WIC's shares, thereby acquiring all of WIC's conventional television broadcasting undertakings, as well as all of its direct and indirect interests in ROBTv and certain other related assets. The restructuring and consequent asset acquisitions will be subject to certain regulatory and other approvals, including approval by the Canadian Radio-television and Telecommunications Commission.

In light of the impending conclusion of the transaction, the parties have requested that the Canadian Radio-television and Telecommunications Commission suspend its public hearing on the matter of Shaw's acquisition of WIC shares, called for October 26, 1999, pending new applications to be filed by the parties no later than December 1, 1999. By letter dated October 12th, 1999 to the CRTC, Cathton Holdings Ltd., the other significant shareholder of WIC, confirmed its support of the request.

Shaw Communications Inc. is a diversified Canadian communications company whose core business is providing broadband cable television and Internet services to approximately 1.8 million customers. Shaw also has significant interests in direct-to-home satellite television services as well as providing telecommunications and paging services to individual and business customers. Shaw is traded on the Alberta, Toronto and New York Stock Exchanges.

Corus Entertainment Inc. is Canada's newest media company. Its principal assets consist of a national group of radio stations, a number of specialty television stations including YTV, Treehouse and CMT, and interests in Teletoon, Telelatino and The Comedy Network. Corus is also a key player in the digital music market (DMX) and local cable advertising services.

CanWest Global Communications Corp. (NYSE: CWG; TSE, WSE: CGS.S and CGS.A; www.canwestglobal.com) is an international media company. CanWest owns and operates conventional television and specialty cable operations in Canada; television and radio broadcast operations in New Zealand, and has significant investments in broadcasters in Australia, Ireland and the United Kingdom. CanWest Entertainment, the Company's program production and distribution division has offices in Canada, the U.K., the U.S. and Ireland. The Company also has a New Media division focused on acquiring and developing Internet companies.