ICH Intercable Ich Inc.

Intercable ICH inc. (Intercable) (TSX VENTURE: ICH) announces today that it has received a conditional secured bridge loan of EUR 1 million and that a decision was rendered by the Autorite de regulation des Communications et des Postes ("ARCEP") regarding the conflict with France Telecom.

Conditional bridge loan

On December 31, 2008, Mauritius Commercial Bank Ltd, a bank affiliated to MCB Equity Fund, a shareholder and insider of Intercable, has granted a new conditional fully secured bridge loan of EUR 1 million ($ 1.6 million) maturing on February 28, 2009 enabling the Company to continue its operations during the month of January 2009 and to carry on discussions with certain groups of investors for the purpose of raising mid or long term financing. The bridge loan carries interest at 3-month LIBOR plus a margin of 7% and is guaranteed first rank by the overall assets of Intercable as well as corporate guarantees from MCB Equity Fund and Commercial Holding Company Ltd, two shareholders and insiders of Intercable. An initial disbursement of EUR 265,000 ($ 424,000) on the bridge loan was made on January 13, 2009. The disbursements on the residual balance of the bridge loan will be made gradually and will be subject to a number of conditions, including the confirmation of the participation of third parties in a mid or long term financing, the execution of the documentation pertaining to the corporate guarantees of MCB Equity Fund and Commercial Holding Company Ltd, the execution of an hypothec pledging certain assets of the Company, the absence of adverse material changes with regards to the Company's operations as well as other usual conditions for this type of loan. There is no assurance that Intercable will receive a mid or long term financing offer in a timely manner enabling it to continue its operations.

This bridge loan is in addition to the EUR 3 million loan already provided by Mauritius Commercial Bank Ltd in August 2008 and which has been entirely drawn as of December 31, 2008.

The bridge loan constitutes a "related party transaction" for the Company for the purpose of Regulation 61-101 respecting protection of minority security holders in special transactions (the "regulation 61-101"), requiring the Company to obtain a formal valuation and the approval of the minority security holders on the bridge loan, unless it is exempted from these requirements.

The Company enjoys an exemption from the formal valuation and minority holders approval requirements in connection with the conclusion of the bridge loan, since the Company's board of directors, acting in good faith, determines, and all independent directors of the Company, acting in good faith, determine that the following conditions are satisfied: the Company is in financial difficulty, the bridge loan is designed to improve the financial position of the Company and the conditions of the bridge loan are reasonable given the situation of the Company. Ziyad Bundhun, representative of MCB Equity Fund Ltd on the Company's board of directors, abstained from voting on the question of the approval of the bridge loan.

New development on the conflict between Intercable and France Telecom.

On August 28, 2008, Intercable asked the Autorite de Regulation des Communications Electroniques et des Postes (ARCEP), the regulatory authority in the telecommunication sector, to take hold of the dispute resolution process with France Telecom. In particular, Intercable asked ARCEP to enjoin France Telecom to honour, on the one hand, its contractual obligations and to propose, on the other hand, access to its infrastructure under non-discriminatory and reasonable technical and financial conditions. On December 11, 2008, ARCEP rendered its decision pursuant to which the requests made by Intercable were rejected mainly as a result of procedural matters. However, ARCEP specified in its decision that Intercable could, if it makes a formal request, benefit, for the segments of its deployment in optical fibre, from the access to France Telecom's civil engineering infrastructure pursuant to the terms and conditions set forth in a standard offer resulting from a prior ARCEP decision dated July 24, 2008. Consequently, Intercable intends to negotiate in a timely manner the technical and financial conditions of an agreement permitting to access France Telecom's infrastructure in order to facilitate the Company's network deployment in the underground areas.

Notwithstanding the above, Intercable wishes to remind that there are two other ongoing judicial procedures relating to the conflict with France Telecom. Firstly, under the supervision of the Paris Commercial High Court, an expert was mandated to conduct an inventory of some 39 km of cables deployed by Intercable in the Communes of Port and Possession and to determine whether those underground deployments were performed according to accepted engineering practices. The expert report will be released on March 15, 2009 at the latest. Lastly, France Telecom lodged an appeal before the Court of Appeal of Saint-Denis of La Reunion regarding a decision made by the Commercial High Court of Saint-Denis pursuant to which the court declared having no jurisdiction to hear the case opposing Intercable to France Telecom. The hearing before the Court of Appeal had been scheduled to February 16, 2009, but France Telecom asked for a postponement until after the expert report is released.

In the interim of being able to access France Telecom's engineering infrastructure and subject to the conditional disbursements of the bridge loan, Intercable intends to continue, albeit at a slow pace until the closing of an eventual mid or long term financing, the deployment of its network in the overhead areas of La Reunion. As of December 31, 2008, Intercable had deployed some 150 km of network reaching a potential of approximately 12,000 homes in the Port, Possession and Saint-Paul communes. Of this number, the Company had deployed more than 2,500 connectable homes and provided television, internet and telephony services to 507 customers, of which 23% had subscribed to three services and 35% to two services. At that date, the number of television, internet or telephony service units stood at 918, representing an average of 1.8 service unit per customer.

About Intercable ICH

ICH is a Canadian telecommunications company that builds and operates a very high-speed network in the Reunion Island, a French overseas department. This international broadband telecommunication business opportunity is perfectly aligned with ICH's strategy, which consists in focusing on underserved telecommunication and cable markets. To achieve its objective, ICH is implementing its own broadband network using cutting-edge technology, which it operates in order to offer television services (basic, premium and on-demand), high-speed Internet services and quality telephone services. ICH targets markets where (i) cable communication service is limited or non-existent, (ii) cables can be installed in aerial or within existing underground ducts and (iii) the political environment is stable.

The TSX Venture Exchange has not reviewed this release and therefore does not accept responsibility for its adequacy or accuracy.

This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Intercable's prospectus dated March 23, 2007 or in the filings made by Intercable from time to time with securities regulators. Intercable undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

Contacts: Guy Laflamme President and Chief Executive Officer 450-582-7953 guylaflamme@intercable.ca Serge Dupuis Chief Financial Officer 514-904-0163 sergedupuis@intercable.ca www.intercable.ca