Rogers Communications Inc. has entered into agreements to purchase 3,200,000 subordinate voting shares of Cogeco Cable Inc. and 1,623,500 subordinate voting shares of Cogeco Inc., pursuant to private agreements with third parties. Rogers Communications is acquiring the subordinate voting shares of Cogeco Cable Inc. at a cash purchase price, excluding commissions, of $36.43 (CAD) per share, for aggregate consideration of $116.6 (CAD) million.

Rogers Communications is acquiring the subordinate voting shares of Cogeco Inc. at a cash purchase price, excluding commissions, of $28.61 (CAD), for aggregate consideration of $46.4 million (CAD) . RCI is acquiring the Cogeco Inc. shares and the Cogeco Cable Inc. shares for investment purposes. The Cogeco Cable Inc. shares being acquired represent approximately 9.7 percent of the outstanding Cogeco Cable Inc. subordinate voting shares. After giving effect to these purchases, Rogers Communications will own 9,795,675 subordinate voting shares of Cogeco Cable Inc. representing approximately 29.8 percent of the subordinate voting shares and approximately 20.2 percent of the equity of Cogeco Cable Inc. The Cogeco Inc. shares being acquired represent approximately 10.9 percent of the outstanding Cogeco Inc. subordinate voting shares. After giving effect to these purchases, Rogers Communications will own 5,023,300 subordinate voting shares of Cogeco Inc. representing approximately 33.6 percent of the subordinate voting shares and approximately 29.9 percent of the equity of Cogeco Inc.