MONTREAL, Quebec, May 19 2008 -- BCE (TSX, NYSE: BCE) announced
today that it has received written confirmation from the Canadian
Radio-television and Telecommunications Commission (CRTC) that the
Commission's conditions set forth in its Decision of March 27, 2008 to its
approval of the proposed acquisition of BCE by an investor group led by
Teachers' Private Capital, the private investment arm of the Ontario Teachers'
Pension Plan, Providence Equity Partners Inc., Madison Dearborn Partners, LLC,
and Merrill Lynch Global Private Equity, have been fulfilled with two minor
exceptions.
In its letter of May 16, 2008, the CRTC requested that an amended
Principal Investors Agreement be filed with the Commission within 30 days
addressing the mechanics of the appointment of an independent member of the
board of directors should certain circumstances arise in the future. The
CRTC's letter also addresses an outstanding issue concerning the disposition
of the balance of the tangible benefits payable by BCE as a result of the
transaction, as a result of which BCE will now direct 10 per cent of those
benefits to the BCE New Media Trust.
BCE expects the transaction to close before the end of the second quarter
of 2008.

Caution Concerning Forward-Looking Statements

This news release contains forward-looking statements relating to the
proposed privatization of BCE, legal proceedings related thereto and other
statements that are not historical facts. Such forward-looking statements are
subject to important risks, uncertainties and assumptions including, in
particular, the inherent uncertainty regarding the conduct, outcome and timing
of any litigation. The results or events predicted in these forward-looking
statements may differ materially from actual results or events. As a result,
we cannot guarantee that any forward-looking statement will materialize.
The completion of the proposed privatization transaction is subject to a
number of terms and conditions, including, without limitation: (i)
satisfaction of the conditions to the approvals of the Canadian
Radio-television and Telecommunications Commission and the Minister of
Industry, (ii) resolution of the appeals filed by the debentureholders with
regard to the plan of arrangement, and any related stay or injunction that
would prevent closing pending resolution of such appeals, and (iii) certain
termination rights available to the parties under the definitive agreement
dated June 29, 2007, as amended, governing the terms of the transaction. The
conditions to these approvals may not be satisfied, the other conditions to
the transaction may not be satisfied in accordance with their terms, and/or
the parties to the definitive agreement may exercise their termination rights,
in which case the proposed privatization transaction could be modified,
restructured or terminated, as applicable. Failure to complete the proposed
privatization transaction could have a material adverse impact on the market
price of BCE's shares.
The forward-looking statements contained in this news release are made as
of the date of this release and, accordingly, are subject to change after such
date. Except as may be required by Canadian securities laws, we do not
undertake any obligation to update or revise any forward-looking statements
contained in this news release, whether as a result of new information, future
events or otherwise. Additionally, we undertake no obligation to comment on
expectations of, or statements made by, third parties in respect of the
proposed privatization transaction. For additional information with respect to
certain of these and other assumptions and risks, please refer to BCE's 2007
annual MD&A dated March 5, 2008 included in the Bell Canada Enterprises 2007
Annual Report, BCE's 2008 First Quarter MD&A dated May 6, 2008, as well as to
the definitive agreement dated June 29, 2007, as amended, and BCE's management
proxy circular dated August 7, 2007, all filed by BCE with the Canadian
securities commissions (available at www.sedar.com) and with the
U.S.
Securities and Exchange Commission (available at www.sec.gov).
These documents
are also available on BCE's website at www.bce.ca.

About BCE Inc.

BCE is Canada's largest communications company, providing the most
comprehensive and innovative suite of communication services to residential
and business customers in Canada. Under the Bell brand, the Company's services
include local, long distance and wireless phone services, high-speed and
wireless Internet access, IP-broadband services, information and
communications technology services (or value-added services) and
direct-to-home satellite and VDSL television services. BCE also holds an
interest in CTVglobemedia, Canada's premier media company. BCE shares are
listed in Canada and the United States.




For further information: Jacqueline Michelis, Bell Canada, Media
Relations, 1-877-391-2007, 
href="mailto:jacqueline.michelis@bell.ca">jacqueline.michelis@bell.ca; Thane Fotopoulos, BCE,
Investor Relations, (514) 870-4619, thane.fotopoulos@bell.ca