SAINT JOHN, NB,July 10 2006 --- The Bell Aliant Regional
Communications Income Fund (Bell Aliant), North America's second largest
regional telecommunications service provider, begins trading today on the
Toronto Stock Exchange under the symbol "BA.UN". Today's trading of Bell
Aliant units signals the successful closing of the income trust transaction
previously announced by BCE Inc. and Aliant Inc. on March 7, 2006.
    Bell Aliant is the largest business trust in Canada, with an enterprise
value of approximately $10 billion. The organization's telecommunications
operations extend through six Canadian provinces, serving a population of more
than 5.3 million from the Ontario/Manitoba border to the eastern tip of
Newfoundland and Labrador. Headquartered in Atlantic Canada, Bell Aliant will
maintain and build strong customer relationships and ties with the communities
it serves in Atlantic Canada, Ontario and Quebec. By combining the skills of
Bell and Aliant, and with regional offices across the territory, customers
will benefit from an organization focused on their specific needs. In
addition, Bell Aliant provides IT professional services through xwave's
offices in Canada, the US and Ireland.
    "Bell Aliant is uniquely positioned to deliver on the needs of our
regional customers and to build strong relationships in the communities we
serve," said Stephen Wetmore, President and Chief Executive Officer of Bell
Aliant. "We now have a dedicated, experienced and diverse team of more than
10,500 employees who will work hard to ensure that our 3.4 million customers
continue to have access to the highest quality networks and the latest
products and services. This transaction will be seamless to our customers and
they will continue to be served by the brands they know and trust."
    Mr. Wetmore continued, "While our first priority is to combine our
operations and uphold excellent customer service, we now have the scale and
geographic reach to seize new growth opportunities and continue to deliver
integrated IT and telecom solutions for key verticals including healthcare,
public safety and policing, defense and aerospace, government and the public
sector."

    About Bell Aliant

    Bell Aliant Regional Communications (TSX: BA.UN) serves its customers
throughout six Canadian provinces with innovative information and
communications technology (ICT) solutions, including telephony, wireless,
Internet, data, IT professional services, and value-added solutions. Bell
Aliant also provides IT professional services through xwave's offices in the
US and Ireland. Bell Aliant's approximately 10,500 employees build on its 100-
plus year history by collaborating to deliver the highest quality of customer
service, choice and convenience.

    On July 7, 2006, Aliant and BCE Inc. created a new organization by
combining Aliant's wireline telecommunications operations in Atlantic Canada,
information technology operation and other operations with Bell Canada's
wireline telecommunications operations in its regional territories in Ontario
and Quebec and its indirect 63.4 per cent interest in NorthernTel, Limited
Partnership and Telebec, Limited Partnership, to form the Bell Aliant Regional
Communications Income Fund. As part of the transaction, Aliant's wireless
telecommunications operation and its ownership of DownEast Ltd. has been
transferred to Bell Canada. The new trust, which has 3.4 million local access
lines and over 400,000 high-speed Internet subscribers in the Atlantic
Provinces, Ontario and Quebec, is headquartered in Atlantic Canada.

    To learn more about Bell Aliant and for a photo and biography of Stephen
Wetmore, visit www.Bell.Aliant.ca.

    Media representatives are encouraged to sign up for Bell Aliant News
Alerts.



For further information: Media Relations: Brenda Reid, Bell Aliant Media
Relations, 866-739-2503, brenda.reid@aliant.ca; Investor
Relations: Ian
Chadsey, Bell Aliant, Investor Relations, (506) 694-2220,
ian.chadsey@aliant.ca
Archived images on this organization are searchable through CNW Photo Archive
website at http://photos.newswire.ca. Images are free to accredited members