Bell Aliant Initiates Small Unitholder Selling Program



    HALIFAX, Oct. 16 /CNW/ - Bell Aliant Regional Communications Income Fund
("Bell Aliant" or the "Fund") (TSX: BA.UN) today announced that it has
initiated a voluntary small unitholder selling program (the "Program") for
registered or beneficial holders of 99 or fewer units (the "Units") of the
Fund as of October 15, 2007. Holders of shares of predecessor companies of
Bell Aliant who hold the equivalent of 99 or fewer Units are also eligible to
participate in the Program (the "Predecessor Company Shares"). The Program
will begin on October 22, 2007 and will expire at 4:30 p.m. (EST) on
January 17, 2008, unless extended.
    The Program will give Canadian registered and beneficial holders of 99 or
fewer Units and/or Predecessor Company Shares (i.e., an "odd-lot") the
opportunity to sell all, but not less than all, of their Units without
incurring brokerage charges. The Fund's transfer agent, CIBC Mellon Trust
Company, will facilitate the placement of sell orders with a broker (the
"Broker") and the execution of the Program. The price received by unitholders
for their Units will be the average price received on all orders placed with
the Broker for execution on a given day, regardless of when any individual
orders are executed that day.
    Bell Aliant expects that this Program will reduce its unitholder
administration costs. The Program is entirely voluntary and unitholders are
advised to contact their broker or other financial adviser as to the
suitability of participating.
    Information concerning this Program and participation documents will be
forwarded to eligible unitholders. Further information can be obtained by
contacting Bell Aliant or the Fund's transfer agent, CIBC Mellon Trust
Company, by telephone, toll-free at (866) 271-6893, or through e-mail at
inquiries@cibcmellon.com.

    Forward-looking Statements

    This news release contains forward-looking statements concerning
anticipated future events, results, circumstances or expectations, in
particular regarding Bell Aliant's intention to initiate and complete a small
unitholder selling program. Unless otherwise indicated, such forward-looking
statements describe our expectations at October 16, 2007. These statements are
based on management's beliefs regarding future events, many of which, by their
nature are inherently uncertain and beyond management's control. These
statements are not guarantees of future performance or events and are subject
to numerous risks and uncertainties which are difficult to predict and
assumptions which may prove to be inaccurate, including the assumption that
Bell Aliant will complete the small unitholder selling program as currently
contemplated. Except as may be required by applicable law, we disclaim any
intention and assume no obligation to update or revise any forward-looking
statement even if new information becomes available, as a result of future
events or for any other reason. Readers should not place undue reliance on any
forward-looking statements.

    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.
    %SEDAR: 00023938EF




For further information:

For further information: Media Relations: Kelly Gallant, (866) 762-6540,
kelly.gallant@bell.aliant.ca; Investor Relations: Zeda Redden, (877) 487-5726,
zeda.redden@bell.aliant.ca

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