(Toronto, Ontario) Corus Entertainment Inc. (TSX: CJR.B; NYSE: CJR) announced today that its Board of Directors has approved a semi-annual dividend for holders of its Class A and Class B shares of $0.02 and $0.025 respectively. The Company’s first semi-annual dividend will be paid on December 31, 2003 to shareholders of record at the close of business on December 19, 2003.

“The Board of Directors believes that now is the time to declare the company’s first dividend. The company exceeded all of its financial targets in 2003 and our improved financial strength should be shared with our shareholders,” said Heather Shaw, Executive Chair of Corus Entertainment.

Corus posted a 32% increase in EBITDA for the year ending August 31, 2003. Net income for the year was $40.0 million or $0.94 per share, compared to a loss of $168.6 million or $3.96 per share last year. There were 1,726,712 Class A voting shares outstanding and 41,002,066 Class B non-voting shares outstanding at the end of the first quarter.

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, a leading international 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.B) and New York (CJR) Exchanges. Corus’ Web site can be found at www.corusentertainment.com.


For further information, please contact:

John Cassaday

President and Chief Executive Officer
Corus Entertainment Inc. |
(416) 642-3770

Tom Peddie 
Senior Vice President & Chief Financial Officer
Corus Entertainment Inc.
(416) 642-3780

Kerry Morgan
Vice President, Communications
Corus Entertainment Inc.
(416) 642-3792