China Cablecom Provides Update on Hubei Assets

China Cablecom Provides Update on Hubei Assets

The Company beats internal forecast of 190,000 digital subscribers by year-end; revises guidance upward to 250,000

SHANGHAI, Oct. 15 /PRNewswire-FirstCall/ -- China Cablecom Holdings, Ltd. ("China Cablecom" or the "Company") (NASDAQ:CABL) (NASDAQ:CABLW) (NASDAQ: CABLU) , today provided an update on forecasted digital subscriber count for year ending December 31, 2009.

The Company originally set an internal goal of 190,000 digital subscribers by the end of 2009 and as of today, has already surpassed the target by 11%. The Company is revising its guidance to 250,000 digital subscribers for year-end. Total paying subscribers of the 23 operating networks in Hubei is currently 1.16 million, including 210,000 digital subscribers, reflecting the acceleration in digital conversion.

"Last week we announced a Company milestone with the consummation of our debt restructurings and new financing," says Pu Yue, Chief Executive Officer of China Cablecom. "As a result we had the flexibility to fulfill our remaining payment obligations to our Hubei joint venture and make a significant repayment to our note holders. Our assets in Hubei are undergoing an aggressive digital conversion and continue to organically expand a subscriber base at approximately 8 to 10 percent year-over-year. Our digitalization growth has driven the increase of our total revenues and ARPU by 18 to 20 percent compared to last year, corresponding to the convergence of affluence and increase in consumer demand. Given our current progress for 2009, we now have an objective for reaching 250,000 digital subscribers by year-end. We expect the second half of 2009 to reap the advantages of this major value inflection."

About China Cablecom

China Cablecom is a joint-venture provider of cable television services in the People's Republic of China, operating in partnership with a local state-owned enterprise ("SOE") authorized by the PRC government to control the distribution of cable TV services through the deployment of analog and digital cable services. China Cablecom has consummated the acquisition of a 55 percent economic interest in a cable network in Hubei province with paying subscribers exceeding 1,100,000. The Company originally acquired operating rights of the Binzhou Broadcasting network in Binzhou, Shandong Province in September 2007 by entering into a series of asset purchase and services agreements with a company organized by SOEs, owned directly or indirectly by local branches of State Administration of Radio, Film and Television in five different municipalities to serve as a holding company of the relevant businesses. China Cablecom now operates 28 cable networks with over 1.67 million paying subscribers. China Cablecom's strategy is to replicate the acquisitions by operating partnership models in other municipalities and provinces in the PRC and then introducing operating efficiencies and increasing service offerings in the networks in which it operates.

Safe Harbor Statement

The matters discussed in this press release contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this presentation and in the Company's other written and oral reports are based on current Company expectations and are subject to numerous risks, uncertainties and assumptions, Any forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity.. The forward-looking statements herein speak only as of the date stated herein and might not occur or the actual results may differ materially in light of these risks, uncertainties, and assumptions. The Company undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. You should carefully consider these factors, as well as the additional risk factors outlined in the filings that the Company makes with the U.S. Securities and Exchange Commission, including the Annual Report on Form 20-F filed on July 15, 2009.

   CONTACT:   China Cablecom Holdings, Ltd.   Debra Chen   Phone: 917.499.8129   Email: debra@chinacablecom.net   www.chinacablecom.net  

First Call Analyst:
FCMN Contact: debra@chinacableone.net

Source: China Cablecom Holdings, Ltd.

CONTACT: Debra Chen, China Cablecom Holdings, Ltd., +1-917-499-8129,
debra@chinacablecom.net

Web Site: http://www.chinacablecom.net/

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Profile: International Entertainment