MONTREAL (Quebec),Oct. 24 2001 --Bell Canada today announced the
offering of $200 million of MTN Debentures pursuant to its medium term
debenture program. The additional 7.85% Debentures, Series M-11, will be dated
October 30, 2001, will mature April 2, 2031 and will be issued at a price of
$101.916 plus $6.02 per $1,000 of accrued interest, for a yield to the
investor of 7.684% compounded semi-annually. A pricing supplement relating to
this issue will be filed by Bell Canada with the various securities
commissions in all provinces of Canada.
    National Bank Financial Inc., BMO Nesbitt Burns Inc., Casgrain & Company
Limited, CIBC World Markets Inc., HSBC Securities (Canada) Inc., Merrill Lynch
Canada Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and
TD Securities Inc. will be acting as agents with respect to this offering of
additional Series M-11 Debentures.
    Bell Canada, Canada's national leader for communications in the Internet
world, provides connectivity to residential and business customers through
wired and wireless voice and data communications, high speed and wireless
Internet access, IP-broadband services, e-business solutions, local and long
distance phone and directory services. Bell Canada is owned by BCE Inc of
Montréal (80%) and by SBC Communications Inc. of San Antonio, Texas (20%). For
more information please visit www.bell.ca




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For further information: Jean-Charles Robillard, Corporate
Communications, (514) 786-3908