Bell Canada announces offering of MTN Debentures



    MONTREAL, June 23 /CNW Telbec/ - Bell Canada today announced the public
offering of Cdn $1 billion of medium term debentures (MTN Debentures). The $1
billion 4.85% MTN Debentures, Series M-20, will be dated June 29, 2009, will
mature June 30, 2014 and will be issued at a price of Cdn $99.842 for a yield
to the investor of 4.886% compounded semi-annually. The MTN Debentures will be
fully and unconditionally guaranteed by Bell Canada's parent, BCE Inc. A
prospectus supplement to the short form base shelf prospectus dated June 13,
2007, will be filed with the various securities regulatory authorities in all
the provinces of Canada.
    The net proceeds of this offering will be used by Bell Canada to pre-fund
debt repayments, including the intended redemption, following closing of this
offering, of Bell Canada's outstanding $600 million principal amount of 5.5%
Series M-16 Debentures, due August 12, 2010, and for general corporate
purposes, including increasing our working capital and, pending any such use,
investing in bank deposits and short-term marketable securities.
    This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities within the United States, and
there shall be no offer, solicitation or sale of securities of Bell Canada in
any state or jurisdiction in which such an offer, solicitation or sale would
be unlawful. The securities mentioned in this release have not been and will
not be registered under the U.S. Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of such Act.

    Caution Concerning Forward-Looking Statements

    This news release contains forward-looking statements relating to Bell
Canada's intention to redeem its Series M-16 Debentures and other statements
that are not historical facts. Such forward-looking statements are subject to
important risks, uncertainties and assumptions, including Bell Canada's
ability to complete the sale of the Series M-20 Debentures, and accordingly
the results or events predicted in these forward-looking statements may differ
materially from actual results or events. The timing and completion of the
proposed sale of the Series M-20 Debentures is subject to customary closing
conditions and other risks and uncertainties. As a result, we cannot guarantee
that any forward-looking statement will materialize. The forward-looking
statements contained in this news release are made as of the date of this news
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 statement contained in this news release
whether as a result of new information, future events or otherwise.

    About Bell

    Bell is Canada's largest communications company, providing consumers and
business with solutions to all their communications needs, including Bell
Mobility and Solo Mobile wireless, high-speed Bell Internet, Bell TV
direct-to-home satellite television, Bell Home phone local and long distance,
and IP-broadband and information and communications technology (ICT) services.
Bell is proud to be a Premier National Partner and the exclusive
Telecommunications Partner to the Vancouver 2010 Olympic and Paralympic Winter
Games. Bell is wholly owned by BCE Inc. (TSX, NYSE:   BCE). For information on
Bell's products and services, please visit www.bell.ca. For corporate
information on BCE, please visit www.bce.ca.




For further information:

For further information: Media inquiries: Jacques Bouchard, Bell Media
Relations, (514) 391-2007, 1-877-391-2007, jacques.bouchard1@bell.ca; Investor
inquiries: Thane Fotopoulos, BCE Investor Relations, (514) 870-4619,
thane.fotopoulos@bell.ca


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