MONTREAL,Feb. 28 2001 --Teleglobe Inc. announced today that it will
redeem its Third Series Preferred Shares on April 2, 2001. The 5,000,000 Third
Series Preferred Shares currently outstanding trade on The Toronto Stock
Exchange.
    The Third Series Preferred Shares will be redeemed at a price of $25.00
per share, plus $0.2219 per share representing all preferential dividends
payable thereon. On March 2, 2001, registered holders of Teleglobe Third
Series Preferred Shares will be mailed a formal Notice of Redemption and
Transmittal Form containing more information. These shareholders will be
required to deliver their shares to the Montreal Trust Company by no later
than March 19, 2001 in order to ensure that payment is delivered to them on
April 2, 2001.



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For further information: Don Doucette, BCE Communications,
(514) 786-3924, Web site: www.bce.ca