ICH Intercable Ich Inc.

Intercable ICH Inc. (TSX VENTURE:ICH) ("Intercable"), a Canadian
telecommunications company that seeks broadband telecommunications opportunities
in the international market, announced today that it is considering a private
placement of 6 million euros (approximately CAN $9.6 million), and is proceeding
to a price reservation at conditions described here below, together with a debt
facility of 13 million euros (approximately CAN $21.08 million). This financing
is subject to the completion of a satisfactory due diligence, the other usual
closing conditions, the obtaining of proper authorizations from the concerned
parties and regulatory approval. The considered 6 million euros private
placement would be subscribed in common shares of Intercable at a price of $0.35
per share, and/or in shares of a subsidiary of Intercable at a price per share
equivalent to $0.35 per share of Intercable. A warrant would also be issued for
each share subscribed at the level of Intercable at an exercise price of $1.50
per warrant share. The warrants would be valid up to April 4, 2010. The debt
facility would have a term of 6 years from the first drawdown, would carry
interest at a rate equal to the 6 month LIBOR plus 7% (subject to a minimum rate
of 8% and a maximum rate of 12%) and would be secured by a first rank security
on all the assets of Intercable and its subsidiaries. Drawdowns under the debt
facility would be available under certain financial and operational covenants.
Upon the conditions described here above, a current insider of the company could
participate in the investment. The proceeds from this financing would be used by
Intercable to finance the build-out of its broadband network in Reunion Island
and to repay its outstanding bridge loans expected to equal 4.5 million euros
(approximately CAN $7.19 million) at closing of the planned financing. Due
diligence and approval processes are expected to last several weeks. There is no
guarantee that Intercable will be able to finalize this financing upon the terms
described above or at all.


Interim Financing

Intercable has signed a new bridge loan of 500,000 euros (approximately
$795,000) with The Mauritius Commercial Bank Ltd (MCB), a bank affiliated to MCB
Equity Fund, a shareholder and insider of Intercable, permitting the company to
continue its operations during March 2009. The bridge loan shall be disbursed at
the discretion of The Mauritius Commercial Bank Ltd and subject to no adverse
material changes. The bridge loan is repayable on May 31, 2009, carries interest
at a rate equal to 3 month LIBOR + 7%, is guaranteed first rank by all the
assets of Intercable and its subsidiairies and by a guarantee from two
shareholders and insiders of Intercable, and is subject to other usual terms and
conditions for this type of transaction. This bridge loan is in addition to the
bridge financings now totalling 4 million euros and which have already been
disbursed.


The bridge loan constitutes a "related party transaction" for Intercable
pursuant to Regulation 61-101 respecting Protection of Minority Security Holders
in Special Transactions ("Regulation 61-101"), which requires Intercable to
obtain a formal valuation and the minority approval of its holders in connection
with the bridge loan unless there is an exemption available from those
requirements.


Intercable benefits from an exemption from the requirements to obtain a formal
valuation and the minority approval in connection with the execution of the
bridge loan given that the board of directors of Intercable, acting in good
faith, has determined that the following conditions have been met and all of the
independent directors of Intercable have confirmed such opinion: i) Intercable
is in serious financial difficulty; ii) the bridge loan is designed to improve
the financial position of Intercable; and iii) the terms of the bridge loan are
reasonable in the circumstances of Intercable. Ziyad Bundhun, representative of
MCB Equity Fund Ltd on the board of directors of Intercable, has not voted in
connection with the approval of the bridge loan.


About Intercable

Intercable is a Canadian telecommunications corporation that seeks broadband
telecommunications opportunities in the international market. Intercable's
business strategy is to focus on underserved telecommunications and cable
markets by building and operating its own broadband networks using
state-of-the-art technology capable of offering cable television, high-speed
Internet and telephony services, at a low cost and with high service quality.
The Corporation targets markets with i) limited or no cable service; ii)
feasibility of aerial cable construction; and iii) stable political
environments. Management believes that Reunion Island currently represents the
most significant growth opportunity for Intercable.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this press release.


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 annual information form dated July 8, 2008 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
event.


For additional information, please visit the company's website at www.intercable.ca

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