Cable Satisfaction restructuring stay extended

New York, Oct. 1 - Cable Satisfaction International Inc.'s stay under the Canadian Companies' Creditors Arrangement Act was extended to Jan. 20, 2005 from Sept. 30.

The extension was necessary because of "further delays" in implementing the company's plan of arrangement, according to monitor RSM Richter Inc.

The delays are principally the result of difficulties encountered in refinancing the existing credit facilities of Cable Satisfaction's Cabovisao-Televisao por Cabo SA subsidiary. The refinancing is a condition to implementing the plan.

Cable Satisfaction is a Montreal-based provider of cable television services, high-speed internet access, telephony and high-speed data transmission services to homes and businesses in Portugal.

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