MONTREAL, Québec,July 25 2006 --- Bell Canada today announced that
none of its 14,000,000 Cumulative Redeemable Class A Preferred Shares, Series
19 ("Series 19 Preferred Shares") will be converted into Cumulative Redeemable
Class A Preferred Shares, Series 20 ("Series 20 Preferred Shares").
    Bell Canada had, on June 5, 2006, notified holders of Series 19 Preferred
Shares that they could elect to convert their shares into Series 20 Preferred
Shares subject to the terms and conditions attached to such shares. Only
1,327,080 of Bell Canada's 14,000,000 Series 19 Preferred Shares were
surrendered for conversion into Series 20 Preferred Shares. As this would
result in there being less than two million Series 20 Preferred Shares
outstanding, none of the Series 19 Preferred Shares will be converted, on
August 1, 2006 into Series 20 Preferred Shares.
    Shareholders who had elected to convert will be receiving by August 1,
2006 share certificates representing the number of Series 19 Preferred Shares
surrendered for conversion.
    Starting August 1, 2006 and until July 31, 2011, holders of Series 19
Preferred Shares will be entitled to receive quarterly fixed dividends at an
annual rate of 4.65% subject to being declared by the Board of Directors of
Bell Canada. The Series 19 Preferred Shares will remain listed on The Toronto
Stock Exchange under the symbol BC.PR.C.

    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:  Mohammed
Nakhooda, Bell Canada, Media Relations, (416) 581-3311, 1-888-482-0809,
mohammed.nakhooda@bell.ca