CanWest Global Communications Corp. - Australia's Network TEN Posts Solid 3rd Quarter Results - Network Continues Strong Performance In Its 1999 Fiscal Year.

WINNIPEG, Canada--(BUSINESS WIRE)--June 30, 1999--

(TSE:CGS.S.) (WINNIPEG STOCK EXCHANGE:CGS.S.) (TSE:CGS.A.) (WINNIPEG STOCK EXCHANGE:CGS.A.) (NYSE:CWG) Australia's Network TEN today reported increases in profit, net revenue and ratings for the first nine months of its 1999 fiscal year which ends on August 31. TEN's earnings before interest, income taxes, depreciation and amortization (EBITDA) rose to A$145.0 million, up 5.6 percent from the same period in 1998. For the first three-quarters, TEN's net revenue rose 5.1 percent over the same period last year. CanWest Global Communications Corp. holds a 57.5 percent economic interest in Network TEN, while the publicly listed TEN Network Holdings Limited holds an approximate 40 percent economic interest.

Peter Viner, CanWest's President and Chief Executive Officer said, "We are pleased with the nine month results from TEN considering the uneven market conditions which have prevailed in Australia to date in calendar 1999. These conditions serve to reinforce TEN's strategic focus, which concentrates on cost control and efficiently delivering its core 16-39 year demographic to advertisers." He added, "This is clearly demonstrated by EBITDA and operating margins which were improved for both the third quarter and year to date."

Network TEN Chief Executive Officer John McAlpine noted that while the competition for the 16-39 year old audience has increased in recent months, TEN has successfully introduced or consolidated the position of a number of recent additions to TEN's prime-time line up. As well, a number of Australian programs are beginning to figure more prominently in TEN's line up with an increased emphasis on lighter program formats targeted to the youth market. "We remain focused on our young demographic and continue to develop and schedule new programs to reinforce and build on this strength," said Mr. McAlpine.

In commenting on the outlook for the future, Mr. McAlpine indicated, "While forecasting revenues for the final fiscal quarter is difficult, we are confident that our low fixed cost base, outsourcing strategies and disciplined approach to business will drive a full year result which demonstrates further improvements in both earnings and margins over the record 1998 result. All the broad economic indicators appear sound and the feedback from advertisers is positive and we would not be surprised to see conditions improve in the run up to Christmas."

CanWest Global Communications Corp. (NYSE: CWG; TSE, WSE: CGS.S and CGS.A) is an international media company. In Canada, CanWest owns and operates the Global Television Network and Global Prime Cable Network as well as CanWest Entertainment, its production and distribution division. Internationally, CanWest owns and operates New Zealand's TV3 and TV4 Television Networks, the More FM Radio Network, and London based CanWest Entertainment International. The Company also has significant investments in Canada's WIC Western International Communications, Australia's TEN Television Network, the Republic of Ireland's TV3 Television Network, Northern Ireland's Ulster Television.