Solvency condition not satisfied - purchaser terminates agreement to acquire BCE

    TORONTO, Dec. 11 /CNW/ - BCE Acquisition Inc. ("Purchaser") today
announced that the agreement to acquire BCE Inc. (TSX, NYSE: BCE) has been
terminated in accordance with its terms.
    Receipt of a solvency opinion from a nationally recognized valuation firm
was included in the June 30, 2007 definitive agreement between the Purchaser
and BCE as a mutual closing condition. The agreement of the Purchaser and BCE
to both the selection of KPMG to serve as the valuation firm and the form of
the solvency opinion was reflected in the July 4, 2008 amendment to the
definitive agreement. Because KPMG has concluded that a required test for the
solvency opinion was not met, this mutual condition to completion of the
acquisition could not be, and was not, satisfied. Accordingly, the Purchaser
terminated the agreement in accordance with its terms. Under these
circumstances neither party owes a termination fee to the other.

For further information: Ontario Teachers' Pension Plan, Deborah Allan,
(416) 730-5347; Providence Equity Partners, George Sard, Andrew Cole, (212)
687-8080, (415) 618-8750; Madison Dearborn Partners, Chuck Dohrenwend, The
Abernathy MacGregor Group, (212) 371-5999; Merrill Lynch Global Private
Equity, Jessica Oppenheim, (212) 449-2107