City of Kenora unanimously approves Bell Aliant offer to purchase Kenora Municipal Telephone System for $27 million



    Closing expected in early February 2008

    KENORA, ON, Jan. 16 /CNW/ - The City of Kenora and Bell Aliant Regional
Communications Income Fund ("Bell Aliant") (TSX: BA.UN), are pleased to
announce that Kenora City Council has unanimously approved Bell Aliant's offer
to purchase the assets and business of Kenora Municipal Telephone System
(KMTS). The acquisition price will be approximately $27 million.
    "Bell Aliant is the right choice for KMTS employees, customers and our
community as a whole," said Mayor Len Compton. "The City of Kenora has
followed a very diligent process and reviewed several options in order to come
to this decision. We are confident in the continued success of KMTS in
Kenora."
    The members of Kenora City Council granted final authorization for the
transaction on January 15, 2008 following a public information meeting held in
Kenora. Closing will be subject to customary terms and conditions, including
regulatory approvals to be requested from Industry Canada and the Canadian
Radio-television and Telecommunications Commission.

    About KMTS

    Owned by the City of Kenora, the Kenora Municipal Telephone System
provides a full range of telecommunications services to business and
residential customers, and has served Kenora and the surrounding area since
1902.

    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.

    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 purchase the assets and
business of the Kenora Municipal Telephone System. Unless otherwise indicated,
such forward-looking statements describe Bell Aliant's expectations at
January 16, 2008. These statements are based on Bell Aliant's 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. Except as may be required by applicable law, Bell Aliant
disclaims any intention and assumes 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.
    %SEDAR: 00023938EF




For further information:

For further information: Dennis McCaffrey, Kenora Municipal Telephone
System, (807) 467-2070, dmccaffrey@kmts.biz; Alyson Queen, Bell Aliant Public
Affairs, (866) 696-6700, alyson.queen@bell.aliant.ca

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