Corus Entertainment provides fiscal 2006 guidance

Corus Entertainment provides fiscal 2006 guidance

TORONTO, Sept. 29 /PRNewswire-FirstCall/ -- Corus Entertainment Inc. (TSX:CJR.NV.B; NYSE:CJR) updated investors today on fiscal year 2006 strategic priorities and provided near-term financial guidance for the Company's 2006 fiscal year.

Corus executives confirmed that the Company will exceed its consolidated free cash flow target of $60 million and will achieve its EBITDA guidance for fiscal year ending August 31, 2005. Corus will release its audited year-end results on October 25, 2005.

John Cassaday, President and Chief Executive Officer, commented: "Corus has just completed a very successful year in which we achieved all of our financial guidance targets. For fiscal year 2006, we are targeting free cash flow of between $70 to $85 million and consolidated EBITDA of between $210 to $220 million."

"We welcome the opportunity to keep investors informed on our approach to managing our business for success," added Mr. Cassaday. "From our disciplined planning processes and systems to our results-oriented strategies by division, we will continue to drive results that deliver shareholder value."

A full audio and PowerPoint archive of Corus Entertainment's presentation to investors is available on the Company's website at www.corusent.com under "Investor Information."

Corus Entertainment is a Canadian-based media and entertainment company. Corus is a market leader in both specialty TV and Radio. Corus also owns Nelvana Limited, an internationally recognized producer and distributor of children's programming and products. The Company's other interests include publishing, television broadcasting and advertising services. A publicly traded company, Corus is listed on the Toronto (CJR.NV.B) and New York (CJR) Exchanges. Corus' website can be found at www.corusent.com.

Corus Entertainment Inc. reports in Canadian dollars.

Certain statements included in this presentation constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Such factors include, among others, the following: the impact of conditions in the entertainment, information and communications industries; risks associated with the economic, political and regulatory policies of local governments and laws and policies of Canada; the potential impact of increased competition in the Company's markets; and other factors which are described in the Company's filings with the Securities and Exchange Commission.

Source: Corus Entertainment Inc.

CONTACT: John Cassaday, President and Chief Executive Officer, Corus Entertainment Inc., (416) 642-3770; Tom Peddie, Senior Vice President and Chief Financial Officer, Corus Entertainment Inc., (416) 642-3780; Tracy Ewing, Vice President, Communications, Corus Entertainment Inc., (416) 642-3792

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