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Privatization of Bell Nordiq Income Fund by Bell Aliant completed

Bell Aliant Regional Communications Income Fund ("Bell Aliant") (TSX: BA.UN) and Bell Nordiq Group Inc., in its capacity as administrator of Bell Nordiq Income Fund ("Bell Nordiq") announced today that the privatization of Bell Nordiq by Bell Aliant has been completed.

HALIFAX, NS and MONTREAL, QC, Jan. 30 2007 -- Bell Aliant Regional Communications Income Fund ("Bell Aliant") (TSX: BA.UN) and Bell Nordiq Group Inc., in its capacity as administrator of Bell Nordiq Income Fund ("Bell Nordiq") announced today that the privatization of Bell Nordiq by Bell Aliant has been completed. As part of the transaction, Bell Nordiq unitholders of record on January 26, 2007 were paid a Special Distribution of $4.00 per unit in cash on January 29, 2007 and received 0.4113 of a Bell Aliant unit in exchange for each Bell Nordiq unit on January 30, 2007. Bell Nordiq units ceased to trade on the TSX as of the close of business on January 29, 2007 and were delisted effective at the close of business on January 30, 2007. About Bell Aliant Bell Aliant (TSX: BA.UN) is one of North America's largest regional communications providers. Through its operating entities it serves customers in six Canadian provinces with innovative information, communication and technology services including voice, data, Internet, video and value-added business solutions. Through its xwave offices, Bell Aliant also provides IT professional services in Canada and the US. Bell Aliant's 10,000 employees are committed to deliver the highest quality of customer service, choice and convenience. About Bell Nordiq Group Inc. Bell Nordiq Group Inc. is the general partner and manages the business and affairs of Télébec, Limited Partnership and NorthernTel, Limited partnership. Bell Aliant Regional Communications Income Fund indirectly owns 100% of the common shares of Bell Nordiq Group Inc. About Télébec, Limited Partnership Télébec, Limited Partnership and its subsidiaries provide innovative integrated telecommunications solutions to customers in 300 municipalities across Québec. Its territory, which spans 750,000 square kilometres, extends North as far as James Bay, South to Venise-en-Québec near the U.S. border, West to Shawville in the Outaouais, and East to the Magdalen Islands. For more information about Télébec, Limited Partnership and its subsidiaries, visit www.telebec.com About NorthernTel, Limited Partnership NorthernTel, Limited Partnership provides innovative integrated telecommunications solutions to customers across Northeastern Ontario. Its territory, which spans 83,000 square kilometres, stretches from Calstock to Latchford and from Virginiatown to Timmins. For more information about NorthernTel, Limited Partnership, visit www.northerntel.ca For further information: Zeda Redden, Bell Aliant Investor Relations, (877) 487-5726; John R. Ripplinger, Bell Nordiq Investor Relations, (514) 493-5531; Alyson Queen, Bell Aliant Media Relations, (866) 696-6700; Daniel Hansen, Bell Nordiq Media Relations, (514) 493-5503


SOURCE Bell Nordiq

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