TELUS announces completion of the early partial redemption of 2011 Notes

VANCOUVER, Dec. 31 /CNW/ - TELUS Corporation (TSX: T, T.NV; NYSE: TU), announced that it has today completed the redemption of US$583.5 million principal amount of its outstanding US$1.945 billion 8% notes due June 1, 2011 (CUSIP No. 87971MAC7). The early redemption notice for these Notes was previously announced on December 1, 2009.

As a result of this redemption the Global Debt Security held by The Depository Trust Company (DTC) was reduced by 30% such that the amount outstanding is now US$1.3615 billion. Consistent with DTC practice in the United States for partial early redemption of debt issues, the individual book entry holdings to be redeemed were selected on a lottery basis by DTC.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

About TELUS

TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications company in Canada, with $9.6 billion of annual revenue and 11.9 million customer connections including 6.4 million wireless subscribers, 4.1 million wireline network access lines, 1.2 million Internet subscribers and more than 100,000 TELUS TV customers. Led since 2000 by President and CEO, Darren Entwistle, TELUS provides a wide range of communications products and services including data, Internet protocol (IP), voice, entertainment and video. Nine TELUS Community Boards across Canada lead our local philanthropic initiatives. For more information about TELUS, please visit telus.com.

SOURCE TELUS Corporation

For further information: For further information: Jim Johannsson, TELUS Media Relations, (780) 920-9519, jim.johannssonl@telus.com; Darrell Rae, TELUS Investor Relations, (604) 619-7814, ir@telus.com

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TELUS Corporation

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