Cabletel Reports Q3

MARKHAM, Ontario -- Cabletel Communications Corp. (AMEX: TTV; TSE: TTV), the leading distributor of broadband equipment to the Canadian television and telecommunications industries, today announced results for the third quarter and nine month periods ended September 30, 2002 (all figures are in Canadian dollars). Greg Walling, President and CEO of Cabletel, stated, "The slowdown in the cable industry has definitely affected our business, however, through strong management of our resources and the continued success of our Manufacturing segment, Cabletel is showing leadership in challenging economic times. We believe our efforts of 2002 have built a strong foundation as our customers' capital expenditures return to normal. As previously announced, we are pleased that we have restructured our Allied Investment and as a result Cabletel has restructured the payment terms of Allied's obligations to us, while at the same time we have acquired a right to purchase Allied's business. We believe that the Allied business provides an excellent strategic fit with Cabletel's business and is consistent with our growth and expansion plans." Third Quarter Highlights: