CanWest in conjunction with private
equity firm, Goldman Sachs Capital Partners, has entered into discussions with
Alliance Atlantis and its controlling shareholder Southhill Strategy Inc.,
which is owned by Alliance Atlantis’s executive chairman Michael MacMillan and
Seaton McLean. There can be no assurance that these discussions will result in
a definitive agreement.

This news release contains certain comments or forward-looking statements
that are based largely upon current expectations and are subject to certain
risks, trends and uncertainties. These factors could cause actual future
performance to vary materially from current expectations. The entities
disclaim any intention or obligation to update any forward-looking statement
even if new information becomes available as a result of future events or for
any other reason.

CanWest Global Communications Corp.
and CGS.A, an international media company, is Canada’s largest
media company. In addition to owning the Global Television Network, CanWest
also owns, operates and/or holds substantial interests in Canada’s largest
publisher of daily newspapers, and conventional television, out-of-home
advertising, specialty cable channels, web sites and radio stations and
networks in Canada, New Zealand, Australia, Turkey, Singapore, Indonesia,
Malaysia, the United Kingdom and the United States.