Guidance

Full Year 2009 Mid-Year Guidance Update

The following table outlines our financial and operational guidance for the full year 2009 that was publicly issued on February 18, 2009 and as updated on July 28, 2009. This information is forward-looking and should be read in conjunction with the section in the Rogers news release dated July 28, 2009 entitled “Caution Regarding Forward-Looking Statements, Risks and Assumptions” and in related disclosures, for the various economic, competitive, and regulatory assumptions and factors that could cause actual future financial and operating results to differ from those currently expected.

Full Year 2009 Mid-Year Guidance Update⁽¹⁾
(Millions of dollars, except subscribers)	2008 Actual	2009 Original Guidance Range %	Updated Guidance Range %
Consolidated
Revenue	$11,335	Up 5% to 9%	Up 2% to 4%
Adjusted operating profit	4,060	Up 3% to 8%
Additions to PP&E	2,021	0% to (10%)
Free cash flow	1,464	Up 9% to 23%
Annualized dividend	1.00	$1.16

Supplementary Detail:

Revenue
Wireless (network revenue)	$5,843	Up 6% to 10%
Cable Operations	2,878	Up 6% to 8%
Media	1,496	Up 4% to (6%)	(4%) to (10%)

Adjusted operating profit
Wireless	$2,806	Up 5% to 9%
Cable Operations	1,171	Up 6% to 10%
Media	142	Up 2% to (19%)	(40%) to (60%)

Additions to PP&E
Wireless	$929	(2%) to (10%)
Cable Operations	829	(7%) to (16%)