TELUS announces price for early partial redemption of 2011 Notes

Notes to be redeemed on December 31, 2009

VANCOUVER, Dec. 28 /CNW/ - TELUS Corporation (TSX: T, T.NV; NYSE: TU), announced today that it has determined the redemption price of its partial 30% redemption, on a pro rata basis, on December 31, 2009 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.

The redemption price, which is payable on December 31, 2009, is based on the Adjusted United States Treasury Yield plus 30 basis points, as provided in the trust indenture pursuant to which such notes were issued in May 2001. Note holders will also receive accrued interest to the December 31, 2009 redemption date.

The following is the redemption price and amount per US$1,000 of principal amount for these Notes:

    
    Redemption Price:                 US$1,097.43

    Accrued and unpaid interest:      US$    6.67

    Total Redemption Amount:          US$1,104.10
    

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) 493-6197, jim.johannssonl@telus.com; Darrell Rae, TELUS Investor Relations, (604) 697-8192, ir@telus.com

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TELUS Corporation

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