MONTREAL,Oct. 23 2001 --BCE Inc. today announced that none of its
Series S Preferred Shares will be converted into Series T Preferred Shares.
BCE had, on September 10, 2001, notified holders of Series S Preferred Shares
that they could elect to convert their shares into Series T Preferred Shares
subject to the terms and conditions attaching to the Series S Preferred
Shares. Only 898,187 of BCE's 8,000,000 Series S Preferred Shares were
surrendered for conversion into Series T Preferred Shares. As this would
result in there being less than one million Series T Preferred Shares
outstanding, no Series S Preferred Shares will, as per the terms and
conditions attaching to such shares, be converted on November 1, 2001 into
Series T Preferred Shares.
    Shareholders who had elected to convert Series S Preferred Shares will be
receiving by November 1, 2001 share certificates representing the number of
shares surrendered for conversion. Starting November 1, 2001, holders of
Series S Preferred Shares will be entitled to receive monthly floating
adjustable cash dividends, computed in accordance with the terms and
conditions attaching to such shares, as and when declared by the Board of
Directors of BCE. The Series S Preferred Shares will remain listed on The
Toronto Stock Exchange under the symbol BCE.PR.S.
    BCE is Canada's largest communications company. It has close to 23
million customer connections through the wireline, wireless, data/Internet and
satellite services it provides, largely under the Bell brand. BCE leverages
those connections with extensive content creation capabilities through Bell
Globemedia which features some of the strongest brands in the industry 3/4
CTV, Canada's leading private broadcaster, The Globe and Mail, Canada's
National Newspaper and Sympatico-Lycos, the leading Canadian Internet portal.
As well, BCE has extensive e-commerce capabilities provided under the BCE
Emergis brand and serves international customers through Teleglobe, a global
connectivity, content distribution and Internet hosting company. BCE shares
are listed in Canada, the United States and Europe.




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For further information: Jean-Charles Robillard, Communications,
(514) 786-3908, Web site: www.bce.ca