ICH Intercable Ich Inc.

Intercable ICH Inc. (TSX VENTURE: ICH) ("Intercable" or the "Corporation") is pleased to announce it has filed this day, with the regulatory authorities of British Columbia, Alberta, Ontario and Quebec, a preliminary prospectus for an offering of units.

The offering consists of units of the Corporation at a price of $5,000 per unit, each unit consisting of five 15% secured subordinated debentures in the principal amount of $1,000 due three years from the date of closing of the offering, and 1,250 common share purchase warrants. Each warrant will entitle the holder to purchase one common share at a price of $1.50 at any time during the period of four years following the closing. The agent is Jones Gable & Company Limited. The issue price of the units has been negotiated with the agent.

Intercable applied today with the TSX Venture Exchange for a listing of its common shares issuable under the warrants.

Proceeds from the offering will be used by the Corporation to repay its secured bridge loan, to fund its infrastructure rollout, to fund operating expenses and for general working capital.

Operational Milestones

As at September 30, 2008, the Corporation had completed approximately 80% of a cable network build-out on approximately 6,000 homes in the Northern communes of Le Port and La Possession in Reunion Island. As a result of a current conflict with France Telecom, the Corporation has suspended the deployment of its underground network in these communes. If the conflict with France Telecom (see "Conflict with France Telecom") is resolved in a satisfactory manner, the Corporation believes that it will be able to connect those 6,000 homes within approximately two months. Given the suspension of the deployment of its network in Le Port and La Possession, the Corporation has redirected its network deployment in high density aerial sectors of Reunion Island, where it has executed agreements to use existing third party infrastructures. The Corporation has started its aerial deployment in the North of Reunion Island, in the Saint-Paul commune, where it has already launched its commercial services. As of September 30, 2008, there was approximately 1,750 homes passed, of which approximately 1,250 have been approached by the Corporation's sales representatives. As of September 30, 2008, the Corporation was providing television, internet and telephony services to approximately 200 customers. As of September 30, 2008, the average of revenue generating units (RGU), representing the aggregate number of television, internet and telephony services, was at 1.9 per customer.

Conflict with France Telecom

On July 7, 2008, despite two civil engineering leasing agreements signed with France Telecom, the Corporation received a demand letter from France Telecom requiring the Corporation to suspend its deployment and to proceed with the removal of its cables already installed in the infrastructure which France Telecom claims to be the owner. On September 10, 2008, France Telecom's demand was heard by the Commercial Court of Saint-Denis in Reunion Island. The Commercial Court of Saint-Denis rendered its decision on October 8, 2008. As anticipated by the Corporation, the Court declared itself not qualified to hear the case given that the civil engineering leasing agreements executed with France Telecom provided a reconciliation process under the supervision of the Commercial Court of Paris. In addition, the Commercial Court of Saint-Denis condemned France Telecom to pay to the Corporation 15,000 Euros in discretionary costs for legal expenses incurred by the Corporation. The Corporation has also asked the Autorite de Regulation des Communications Electroniques et des Postes (the "ARCEP"), which regulates notably the competition in the telecommunications industry in France, to render a decision to settle the conflict with France Telecom. The Corporation expects that the ARCEP will render its decision on or before December 28, 2008.

MCB Secured Bridge Loan

On August 28, 2008, the Corporation entered into a fully secured bridge loan facility of 3 million Euros (approximately $4,792,000) with Mauritius Commercial Bank Ltd. ("MCB"), a bank affiliated with MCB Equity Fund, a shareholder and insider of the Corporation (the "MCB Secured Bridge Loan"). The MCB Secured Bridge Loan shall be disbursed by tranches until maturity on October 31, 2008, each disbursement being at the discretion of MCB and subject to no adverse material changes. As of October 15, 2008, 1.4 million Euros (approximately $2,217,816) have been disbursed. On October 15, 2008, MCB has extended the maturity date of the MCB Secured Bridge Loan to November 30, 2008.

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.

The TSX Venture Exchange has not reviewed this press 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 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.

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