LOOK COMMUNICATIONS PROPOSES SHARE CAPITAL REORGANIZATION
Proposal will provide Company greater options for equity financing

Toronto and Montreal, Canada, January 19, 2005  – Look Communications Inc. (TSX Venture: LOK) today announced that its Board of Directors approved a proposal to amend its share structure. The proposal will provide the Company greater flexibility in pursuing any new financing arrangements, and will be voted on by shareholders at the upcoming Annual and Special Meeting on February 16.

The proposal, if adopted, would create a new class of Multiple Voting Shares and redesignate the common shares of the Company as Subordinate Voting Shares.  Pursuant to the proposal, each outstanding common share would be exchanged for one-half of a Multiple Voting Share and one-half of a Subordinate Voting Share, resulting in shareholders maintaining their respective voting equity interests in the Company.  The Subordinate Voting Shares and the Multiple Voting Shares will both be fully participating equity shares, but the Multiple Voting Shares will carry 150 votes per share and the Subordinate Voting shares will carry one vote per share.  In addition, shareholders will have the right (a) to convert each Multiple Voting Share into one Subordinate Voting Share; and (b) to convert the Subordinate Voting Shares into Multiple Voting Shares upon a take-over bid for the Multiple Voting Shares. 

The purpose of the capital reorganization is to provide a greater range of options to the Company for equity financing purposes.  Investments in broadcasting distribution undertakings, which involve significant shifts in voting power, can be hindered by various ownership restrictions imposed under the Broadcasting Act (Canada).  In addition, several institutional investors are not permitted to acquire an interest in an investee company to which is attached voting rights in excess of a specified percentage of all votes attached to the shares of the investee company.  The capital structure that will result from the proposed reorganization will allow the Company to address these issues more easily. The Corporation is not currently contemplating the issuance of Multiple Voting Shares other than as part of the proposed capital reorganization, to meet its obligations under the anti-dilution provisions of convertible securities and to maintain (but not increase) the percentage voting position of the holders of Multiple Voting Shares.

The Exchange has advised the Corporation that it is prepared to accept in principle the proposed capital reorganization, subject to certain conditions. However, completion of the share restructuring is subject to formal Exchange acceptance and shareholder approval, which will require a majority of the minority of shareholders.   Further details of the proposals can be found in the Management Information Circular, dated January 13, 2005.

About Look Communications Inc.
Look delivers a full range of communications services, including high-speed and dial-up Internet access, Web applications, digital television distribution and superior customer service to both the business and residential markets across Canada.  In addition, Look provides a number of value-added services to meet its customers’ needs, such as Web hosting, domain name registration, Web mail, parental filters and virus scanning.  Look’s shares are listed on the TSX Venture Exchange under the symbol LOK.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact:
Michael Cytrynbaum
Chairman
Look Communications
(514) 599-2629
Michael@cytrynbaum.com