NEWS RELEASE TRANSMITTED BY CCN - A NEWSWIRE SERVICE OF ITG

FOR:  BELL CANADA INTERNATIONAL INC.

TSE SYMBOL:  BI
NASDAQ SYMBOL:  BCICF

JULY 26, 2000

BCI Closes Sale of Korean PCS Provider

MONTREAL, CANADA-- 

* $1 billion net gain in 2 years 

* Five-fold increase in value of BCI's investment 

Bell Canada International Inc. ("BCI") today announced the closing
of the agreement signed June 14, 2000 to sell its 21 % stake in 
the Korean PCS provider, Hansol M.com, to Korea Telecom.  The 
transaction represents an approximate five-fold increase in the 
value of BCI's investment and a $1 billion net gain in 2 years. 

BCI has received gross proceeds in the form of cash, promissory 
notes and shares of SK Telecom, Korea's largest wireless operator,
with an aggregate transaction value of Cdn$1.47 billion.  The 
value received by BCI on closing reflects purchase price 
adjustments of approximately Cdn$187 million following the 
completion of due diligence in consideration for the full and 
final settlement of key undertakings, representations and 
warranties. 

The purchaser, Korea Telecom, is the Government-controlled 
incumbent wireline operator.  Korea Telecom also owns a 36 % 
controlling interest in Korea's second largest mobile operator (KT
Freetel), as well as a 17.9 % stake in SK Telecom. 

Mr. Louis Tanguay, President and CEO of BCI stated, "During the 
past two years, BCI has worked with our partners to rapidly grow 
Hansol M.com and to move the company beyond the provision of 
mobile voice to data services.  The sale of our stake in Hansol at
this time seizes a very profitable market consolidation 
opportunity in Korea.  The proceeds of sale will enhance BCI's 
ability to aggressively pursue and secure other growth and value 
creation opportunities in South America." 

BCI owns and develops advanced communications companies in markets
outside Canada, with an increasing focus on South America.  A 
subsidiary of BCE Inc., Canada's largest communications company, 
BCI is listed on the Toronto Stock Exchange under the symbol BI, 
and on the NASDAQ national market under the symbol BCICF. 

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