360networks To Provide Over Cdn. $250 Million ofNetwork Services To Shaw Communications Inc.

Business Editors

VANCOUVER, B.C. & CALGARY, Alberta--(BUSINESS WIRE)--March 20, 2000

SHAW(TSE:SJR.B.) (CDNX:SJR.A) (NYSE:SJR)

SHAW ALSO TO INVEST U.S. $100 MILLION IN 360networks

360networks inc. (formerly Worldwide Fiber Inc.) and Shaw Communications

Under the agreement, 360networks will provide over Cdn. $250 million (U.S. $170 million) of high-speed bandwidth network services and dark fiber to Shaw. In addition, Shaw will make an equity investment of U.S. $100 million in 360networks.

"We are delivering on our commitment to provide our customers faster Internet access," said Jim Shaw, President and CEO of Shaw Communications. "This network will serve as the national platform for our broadband Internet services, and interconnect our high-capacity video servers across Canada."

"Shaw is a leader in providing broadband Internet access in Canada, and we are excited to be the provider of Internet backbone to them," said Greg Maffei, CEO of 360networks. "Shaw typifies the customer who can benefit from the advanced network architecture and breadth of services of 360networks."

360networks will provide Shaw up to four OC-48 channels between Vancouver and Toronto, capable of collectively transmitting data at up to 10 gigabits per second. 360networks will also provide Shaw more than 12,000 kilometers of dark fiber on two routes between Vancouver and Halifax, which includes three network rings connecting Vancouver, Edmonton and Calgary; Edmonton, Toronto, Detroit, Chicago, Minneapolis, Winnipeg; and Toronto, Ottawa and Montreal.

These network products and services will be provided by 360networks over a three-year period and will replace a portion of the capital expenditure program previously contemplated to meet Shaw's growing demand for broadband, Internet backbone capacity. The U.S. $100 million investment will be funded from proceeds derived from the continuing monetization of Shaw's portfolio of investments.

ABOUT SHAW COMMUNICATIONS

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 and in Internet, interactive television, e-commerce and telecommunications companies. Shaw is traded on the Toronto and New York Stock Exchanges (Symbol:TSE - SJR.B, NYSE - SJR).

ABOUT 360networks

360networks (formerly known as Worldwide Fiber) offers broadband network and collocation services for telecommunications companies, ISPs, application service providers and data-centric enterprises. 360networks is completing a technologically advanced 90,000-kilometer (56,000-mile) network linking 90 major cities, including a fiber optic terrestrial network in North America and Europe and undersea cables linking North America, South America and Europe. 360networks and its predecessors have been developing communications networks since 1988.