Three Months Ended December 31
	1998	1997	Percent Change
Revenue	$745,442	$733,591	1.6%
Operating profit (1)	210,946	195,844	7.7%
Net income (loss) (as reported)	32,718	(422,977)	NA
Loss (excl. non-recurring)	(54,512)	(54,662)	NA
Year Ended December 31
	1998	1997	Percent Change
Revenue	$2,839,229	$2,695,322	5.3%
Operating profit (1)	855,099	814,112	5.0%
Net income (loss) (as reported)	634,769	(539,455)	NA
Loss (excl. non-recurring)	(196,109)	(110,284)	NA

(1)  Defined as operating income before provision for restructuring and asset writedowns (in the 1997 results) and depreciation and amortization.

Commenting on the Company's results, RCI's President and CEO, Edward S. (Ted) Rogers said: "The fourth quarter of 1998 was the successful conclusion to a year of continuous improvement for Rogers Communications. With process improvement and cost reduction initiatives solidly entrenched within all operating companies, RCI's principal objective in the fourth quarter was to accelerate product sales. I am pleased to report that all operating divisions achieved excellent growth in this area."

"Cablesystems exceeded our year-end target of 50% penetration of the new MeTV channel package and had outstanding success with Rogers(at)Home, our high-speed Internet product, more than doubling its total customer count in the fourth quarter. Wireless added over 60% more cellular and Digital PCS customers than in the same quarter of the prior year, while Media showed revenue growth of over 20% compared to the same quarter last year."

"During the quarter, we appointed James H. (Trey) Smith to the position of President and Chief Executive Officer of the cable division. Trey is a seasoned cable industry veteran with over 20 years of service with major US cable companies. With experienced senior executives now in place in each of our operating divisions, we look forward to building momentum in 1999."

CONSOLIDATED RESULTS -
FOURTH QUARTER 1998 VS. 1997

During the fourth quarter of 1998, consolidated revenue was $745.4 million, an increase of $11.8 million or 1.6% from $733.6 million reported in the fourth quarter of 1997. This increase is primarily due to a 8.6% increase in Cablesystems' revenue and a 21.6% increase in Media's revenue, partially offset by a 6.3% decline in Wireless' revenue from the fourth quarter of the prior year. Consolidated operating profit was $210.9 million, an increase of $15.1 million or 7.7% from $195.8 million in the fourth quarter of the prior year.

Excluding the results of Rogers Telecom, which were included in the 1997 results but not in the 1998 results, and after giving effect to the new accounting treatment for phones at Wireless in the 1997 results (see `Wireless' below), RCI had consolidated revenue growth of $27.2 million, or 3.8% and operating profit growth of $53.7 million, or 34.1% compared to the fourth quarter of the prior year.

Fixed Charges

Depreciation and amortization was $147.3 million, an increase of $2.6 million, or 1.8% from $144.7 million in the fourth quarter of 1997. Interest expense was $126.8 million, a decrease of $3.7 million or 2.8% from $130.5 million reported in the fourth quarter of 1997, as unfavourable currency exchange rates were more than offset by lower average debt balances and lower average interest rates on RCI's debt.

Net Income and Loss

In the fourth quarter, RCI recorded net income of $32.7 million, or 14 cents per share (after preferred dividends), compared to a loss of $423.0 million, or $2.41 per share (after preferred dividends) in the fourth quarter of the prior year. Excluding non-recurring items in both periods, RCI recorded a quarterly loss of $54.5 million, or 35 cents per share (after preferred dividends) compared to a loss of $54.7 million, or 35 cents per share (after preferred dividends) in the fourth quarter of the prior year.

Wireless

Wireless' revenue was $324.1 million, down $21.6 million or 6.3% from $345.7 million in the fourth quarter of the prior year. The decline in revenue was due to a decline in equipment sales and paging revenue, partially offset by an increase in cellular revenue. The decline in equipment sales revenue reflects declining phone costs.

Operating profit was $91.3 million, up $3.3 million or 3.7% from $88.0 million in the fourth quarter of the prior year. The increase in operating profit is largely due to higher cellular operating margins before depreciation and amortization, which increased to 33.0%, from 31.9% in the fourth quarter of the prior year.

Average monthly cellular revenue per subscriber was $53, down $5 or 8.7% from $58 in the fourth quarter of 1997. Average monthly usage during the period was 198 minutes, down 8.3% from 216 minutes in the fourth quarter of the prior year.

Monthly cellular operating expenses before sales and marketing costs on a per subscriber basis, were $16.66, a decline of $1.62 or 8.9% from $18.28 in the prior year's fourth quarter. This decrease in monthly operating cost per customer is due to both cost reductions and process improvement initiatives begun earlier in the year, as well as the substantially lower operating costs of "Pay-As-You-Go" service.

Effective January 1, 1998, Wireless began expensing the cash cost of phones sold in the quarter. In prior years, these costs were deferred and amortized over the life of the term contract. After giving effect to the new accounting treatment in both periods, sales and marketing costs were $93.4 million, a decrease of $1.8 million or 1.9% from $95.2 million in the fourth quarter of 1997. Sales and marketing costs measured on a per gross addition basis were $464, a decrease of $408 or 46.8% from $872 in the fourth quarter of 1997. The decreased cost per gross addition is the result of strong sales in the quarter, including prepaid cellular, which has essentially no variable acquisition cost, and an overall reduction of hardware subsidies.

Wireless added 103,300 cellular subscribers (net of disconnects), as compared to 63,100 in the fourth quarter of the prior year. This increase reflects a 38.0% improvement in gross additions; partially offset by an 18.3% increase in disconnects from the prior year's fourth quarter level. The increase in gross additions reflects an acceleration in the overall market for wireless communications services as well as an improvement in Wireless' sales. At December 31, 1998, Wireless had a total of 1,737,600 cellular subscribers.

The average monthly disconnect or "churn" rate for cellular was 2.06%, an increase from 1.83% in the fourth quarter of 1997. The churn increase reflects the impact of a large number of customers coming off term contracts in an increasingly competitive market. Management believes that its recently launched simplified pricing plans, together with other customer retention initiatives, should assist in moderating churn in future quarters.

Wireless added 6,500 paging subscribers (net of disconnects) in the quarter to reach a cumulative total of 256,400 at December 31, 1998. The average monthly churn rate for paging was 3.09% as compared to 3.23% in the fourth quarter of 1997.

Cablesystems

Cablesystems revenue was $264.1 million, an increase of $20.9 million or 8.6% from $243.2 million in the fourth quarter of 1997. Operating profit was $101.9 million, an increase of $10.9 million or 11.9% from $91.0 million in the fourth quarter of 1997.

The gain in Cablesystems revenue primarily reflects higher revenue in core cable TV operations due to higher tier penetration, a rate increase on Cable Plus services effective March 1, 1998, and the launch of the new MeTV channel package.

At December 31, 1998, approximately 72.2% of Cable Plus customers subscribed to either the Combo tier (which includes both Cable Plus Original and Select) or the Ultimate tier (which adds the MeTV channel package to the Combo), compared to 67.5% at December 31, 1997. At the end of the fourth quarter, approximately 1,125,500 customers were subscribing to MeTV, for a penetration rate of approximately 50.3%. At December 31, 1998, Cablesystems had 2,237,200 basic cable subscribers, a decline of only 6,500 from December 31, 1997.

Video Stores reported revenue of $42.5 million, an increase of $3.9 million or 10.1% from $38.6 million reported in the fourth quarter of the prior year, primarily due to the increase in the number of stores and a 3% increase in same store revenue. Video Stores ended the year with a total of 211 stores, as compared to 195 stores at December 31, 1997.

Cablesystems continues to report solid operating margins in its core cable TV business. In the fourth quarter the core cable TV operating margin was 43.7%, compared to 43.2% in the fourth quarter of the prior year.

During the fourth quarter, Cablesystems added 27,700 Rogers(at)Home customers, ending the quarter with 54,200 customers. At December 31, 1998, Cablesystems was able to market its high-speed Internet access service to approximately 2.2 million homes, or approximately 81% of Cablesystems' 2.8 million homes passed.

Media

Media reported revenue of $157.2 million, an increase of $27.9 million or 21.6% from $129.3 million in the fourth quarter of 1997. Operating income before depreciation and amortization was $20.2 million, an increase of $3.6 million or 22.2% from $16.6 million in the fourth quarter of the prior year.

Publishing revenue increased 24.1% compared to the fourth quarter of 1997, while operating income rose by 5.1% with strong performances from Maclean's, L'actualité and Châtelaine (French).

Radio and television broadcasting results continued to be strong, with substantial gains in operating income in Radio and at CFMT-TV in Toronto. Revenue at The Shopping Channel was up 29.1% compared to the fourth quarter of 1997.

Media continued to develop and invest in its on-line media properties in the quarter. Rogers Media assisted in marketing the launch of Bid.com in Canada under the terms of a joint marketing and licensing agreement.

Liquidity and Capital Resources

RCI's operating cash flow shortfall (defined as cash flow from operations after working capital, capital expenditures, and preferred share dividends) was $65.4 million in the fourth quarter of 1998.

During the fourth quarter, RCI sold approximately 1.4 million shares of At Home Corporation for gross proceeds of approximately $126.3 million. On December 31, 1998, RCI redeemed its Series XVI and XVII preferred shares totaling $130 million held by a company controlled by the controlling shareholder of RCI. Consideration for the redemption was two demand promissory notes from a company controlled by the controlling shareholder of RCI.

At December 31, 1998, RCI's total long-term debt was $5.254 billion, a decline of over $329.3 million from the levels reported at December 31, 1997. RCI's capital expenditures for the quarter were $226.6 million, compared to $271.9 million in the fourth quarter of the prior year. Approximately 38% of the 1998 fourth quarter capital expenditures were used at Wireless, and 61% at Cablesystems.

CONSOLIDATED RESULTS -
FISCAL 1998 VS. FISCAL 1997

Consolidated revenue in fiscal 1998 was $2,839.2 million, an increase of $143.9 million or 5.3% from $2,695.3 million in fiscal 1997. Consolidated operating profit was $855.1 million in fiscal 1998, an increase of $41.0 million or 5.0% from $814.1 million in fiscal 1997.

Excluding the results of Rogers Telecom in both periods, and after giving effect to the new accounting treatment for phones at Wireless in the 1997 results, in fiscal 1998 RCI had consolidated revenue growth of $200.2 million, or 7.6% and operating profit growth of $98.3 million, or 13.0% compared fiscal 1997.

RCI's net income in fiscal 1998 year was $634.8 million, or $3.39 per share (after preferred dividends) compared to a loss of $539.5 million, or $3.17 per share (after preferred dividends) in fiscal 1997. Excluding non-recurring items in both years, RCI recorded a loss of $196.1 million, or $1.27 per share (after preferred dividends) in fiscal 1998 compared to a loss of $110.3 million or 77 cents per share (after preferred dividends) in fiscal 1997.

Rogers Communications Inc. is Canada's national communications company engaged in cellular, Digital PCS, paging and data communications through its 81% owned subsidiary Cantel Mobile Communications Inc., in cable television, high-speed Internet access, and video retailing through its wholly-owned subsidiary Rogers Cablesystems Ltd., and in radio and television broadcasting, publishing and new media businesses through its wholly-owned subsidiary Rogers Media Inc.

(see attached financial tables)

Consolidated Statements of Income
(in thousands of dollars except per share data)

	Three Months Ended December 31		Year Ended December 31
	1998 (Unaudited)	1997 (Unaudited)	1998 (Unaudited)	1997 (Unaudited)
Revenue
Wireless	$ 324,108	$ 345,741	$1,242,925	$1,241,329
Cablesystems	264,133	243,202	1,027,037	944,820
Telecom	-	15,368	31,103	56,243
Media	157,201	129,280	538,164	452,930
	$ 745,442	$ 733,591	$2,839,229	$2,695,322
Operating income before provision for restructuring and asset writedowns, and depreciation and amortization
Wireless	$ 91,300	$ 88,019	$ 395,142	$ 395,661
Cablesystems	101,929	91,049	398,689	361,046
Telecom	-	7,550	12,659	24,527
Media	20,244	16,572	65,705	54,076
Corporate	(2,527)	(7,346)	(17,096)	(21,198)
	210,946	195,844	855,099	814,112
Provision for restructuring and asset writedowns	-	394,315	-	394,315
Depreciation and amortization	147,272	144,719	569,591	512,648
Operating income	63,674	(343,190)	285,508	(92,851)
Interest expense	(126,779)	(130,493)	(524,737)	(482,534)
Loss on early repayment of long-term debt	-	-	(31,157)	(70,289)
Gain on sale of Rogers Telecom Inc.	-	-	703,564	-
Gain on sale of assets and other investments	106,415	6,836	171,076	7,197
Investment and other income	6,687	3,415	21,014	18,462
Income (loss) before income taxes	49,997	(463,432)	625,268	(620,015)
Income taxes	(17,279)	40,455	9,501	80,560
Net income (loss) for the period	$ 32,718	$(422,977)	$ 634,769	$ (539,455)
Earnings per share
Basic
Net income (loss) for the period	$ 0.14	$ (2.41)	$ 3.39	$ (3.17)
Fully Diluted
Net income (loss) for the period			$ 2.92
Average Class A and Class B
Shares outstanding for the period (thousands)	178,580	178,226	178,580	178,226

Consolidated Statements of Changes in Financial Position
(in thousands of dollars)

	Three Months Ended December 31		Year Ended December 31
	1998 (Unaudited)	1997 (Unaudited)	1998 (Unaudited)	1997 (Unaudited)
Funds provided by (used for):
Operations:
Net income (loss) for the period	$ 32,718	$(422,977)	$ 634,769	$(539,455)
Items not affecting funds
Depreciation and amortization	147,272	144,719	569,591	512,648
Deferred income tax (expense) reduction	14,594	(42,587)	(20,460)	(89,528)
Gain on sale of assets and other investments	(106,415)	(6,836)	(874,640)	(7,197)
Loss on early repayment of long-term debt	-	-	31,157	70,289
Accrued interest due (paid) on repayment of certain notes	2,242	4,463	(35,117)	17,062
Provision for restructuring and asset writedowns	-	394,315	-	394,315
Share of losses (income) of associated companies, net	203	211	(326)	(2,059)
	90,614	71,308	304,974	356,075
Changes in:
Accounts Receivable	(11,941)	(49,443)	44,375	(66,010)
Accounts payable, accrued liabilities and unearned revenue	95,412	(9,544)	4,960	13,711
Deferred charges and other assets	(5,215)	(457)	(23,249)	(40,549)
	168,870	11,864	331,060	263,227
Financing:
Issue (repayment) of long-term debt, net	(60,631)	(133,187)	(511,461)	496,527
Financing costs incurred	-	(7,084)	-	(37,547)
Issue of capital stock	1,240	2,694	1,240	146
Redemption of capital stock, net	(130,570)	-	(131,648)	-
Dividends on preferred shares	(7,678)	(6,834)	(29,955)	(26,078)
	(197,639)	(144,411)	(671,824)	433,048
Investments:
Additions to fixed assets	(226,575)	(271,865)	(658,479)	(979,922)
Proceeds on sale of Rogers Telecom Inc.	-	-	1,050,000	-
Investment in MetroNet Communications Corp.	-	-	(450,000)	-
Proceeds on sale of assets and other investments	126,263	11,071	263,382	19,159
Decrease in investment in General Cable T.V. Limited	130,000	-	130,000	-
Purchase of subsidiary's capital stock	-	-	-	(25,662)
Other investments	13,282	2,115	15,777	(31,835)
	42,970	(258,679)	350,680	(1,018,260)
Increase (decrease) in funds	14,201	(391,226)	9,916	(321,985)
Funds (deficiency), beginning of period	(15,584)	379,927	(11,299)	310,686
Funds (deficiency), end of period	$ (1,383)	$ (11,299)	$ (1,383)	$ (11,299)
Funds are defined as cash and short-term deposits less operating bank loans and bank advances.

Consolidated Balance Sheets
(in thousands of dollars)

	December 31 1998 (Unaudited)	December 31 1997 (Audited)
Assets
Fixed assets	$ 3,234,634	$ 3,298,994
Subscribers and licences	1,342,360	1,369,818
Goodwill	190,514	194,056
Investments	674,615	449,768
Accounts receivable	300,681	349,346
Deferred charges	436,314	293,419
Other assets	205,735	191,614
	$ 6,384,853	$ 6,147,015
Liabilities and Shareholders' Deficiency
Liabilities:
Long-term debt	$ 5,254,044	$ 5,583,353
Bank advances (represented by outstanding cheques)	1,383	11,299
Accounts payable and accrued liabilities	957,796	845,287
Unearned revenue	100,718	97,238
Deferred income taxes	112,437	127,261
	6,426,378	6,664,438
Shareholders' equity (deficiency)	(41,525)	(517,423)
	$ 6,434,146	$ 6,147,015

 
This news release may include certain forward-looking statements that involve risks and uncertainties. The Company cautions that actual future performance will be affected by a number of factors, including technological change, regulatory change, and competitive factors many of which are beyond the Company's control. Therefore future events and results may vary substantially from what the Company currently foresees. Additional information identifying risks and uncertainties is contained in the Company's most recent Annual Information Form filed with the Ontario Securities Commission.

Click here for the replay of the conference call with management.

For more information contact:

David A. Robinson Vice President, Financial Planning and Investor Relations Rogers Communications Inc. Phone: (416) 935-3550 Fax: (416) 935-3597

Richard J. Harvey Director, Investor Relations Rogers Communications Inc. Phone: (416) 935-3552 Fax: (416) 935-3597