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Supreme Court reinstates order approving BCE privatization plan

MONTREAL, June 20 2008 -- BCE Inc. (TSX, NYSE: BCE) announced that
today's Supreme Court of Canada decision reinstating the court order approving
the company's plan of arrangement opens the path to complete the previously
announced sale of the company to 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.
    "Today's unanimous decision by the Supreme Court affirms BCE's long
standing position that the plan of arrangement complies with the rights and
reasonable expectations of Bell Canada debentureholders," said Richard J.
Currie, Chair of the Board of BCE Inc. and Bell Canada.
    CRTC final approval was obtained late today. Further, Industry Canada
also confirmed its approval will be received early next week. As a result, all
third party approvals necessary for the transaction will be obtained before
June 30, 2008. In light of the delay caused by legal challenges to the plan of
arrangement, the company's objective is now to close the transaction in the
third quarter of 2008.
    "With this decision by the Supreme Court and the confirmation of
regulatory approvals, we are now in a good position to complete the
transaction," added Mr. Currie. "We expect all parties to the transaction will
honour their commitments."

    Caution Concerning Forward-Looking Statements

    This news release contains forward-looking statements relating to the
proposed privatization of BCE and other statements that are not historical
facts. Such forward-looking statements are subject to important risks,
uncertainties and assumptions. 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 timing and completion of the proposed privatization transaction is
subject to each of the parties fulfilling their commitments under the
transaction documents and to a number of terms and conditions, including,
without limitation, the provisions of, and 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 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 management's discussion and analysis ("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 and with the U.S. Securities and Exchange
Commission (available
at These documents are also available on BCE's
website at

    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: Pierre Leclerc, Media Relations, (514)
391-2007, 1-877-391-2007,; Thane
Fotopoulos, Investor
Relations, (514) 870-4619,

SOURCE Corporate

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