MONTREAL,April 24 2006 --- Bell Canada today announced that
3,948,249 of its 14,000,000 Cumulative Redeemable Class A Preferred Shares,
Series 17 ("Series 17 Preferred Shares") have been tendered for conversion, on
a one-for-one basis, into Cumulative Redeemable Class A Preferred Shares,
Series 18 ("Series 18 Preferred Shares"). Consequently, Bell Canada will issue
3,948,249 new Series 18 Preferred Shares on May 1, 2006. The balance of the
Series 17 Preferred Shares that have not been converted will remain
outstanding.
    Starting May 1, 2006, holders of Series 17 Preferred Shares will be
entitled to receive quarterly fixed dividends at an annual rate of 4.35% as
and when declared by the Board of Directors of Bell Canada. The remaining
Series 17 Preferred Shares will continue to be listed on The Toronto Stock
Exchange under the symbol BC.PR.B.
    The Series 18 Preferred Shares will be listed on The Toronto Stock
Exchange under the symbol BC.PR.E and should start trading on a "When Issued"
basis at the opening of the market on April 26, 2006. As and when declared by
the Board of Directors of Bell Canada, the Series 18 Preferred Shares will pay
monthly floating adjustable cash dividends, computed in accordance with the
terms and conditions attached to such shares, for the five-year period
beginning May 1, 2006.

    About Bell Canada

    Bell Canada is Canada's national leader in communications with 28 million
customer connections across the country. The company provides consumers with
simple solutions to all their communications needs, including telephone
services, wireless communications, high-speed Internet, digital television and
voice over IP. Bell also offers integrated information and communications
technology (ICT) services to businesses and governments, and is the Virtual
Chief Information Officer (VCIO) to small and medium businesses (SMBs). Bell
is proud to be a Premier National Partner and the exclusive Communications
Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. Bell is
wholly-owned by BCE Inc. For information on Bell's products and services,
please visit www.bell.ca, and for corporate information on BCE,
please visit
www.bce.ca.



For further information: For media inquiries, please contact: Pierre
Leclerc, Bell Canada, Media Relations, (514) 391-2007, 1-877-391-2007,
pierre.leclerc@bell.ca