TELUS prices debt offering



    Five and 10 year Notes for C$1 billion

    VANCOUVER, March 8 /CNW/ - TELUS Corporation (TSX: T, T.A; NYSE:   TU)
announced today the pricing of its previously announced offerings of senior
unsecured Notes for expected aggregate gross proceeds of C$1.0 billion with
five and ten year maturities. The gross proceeds expected have been increased
by $200 million from what was initially announced today due to strong demand.
    The 4.50% five-year Notes, Series CC were priced at $99.991 for an
effective yield of 4.502% per annum and will mature on March 15, 2012. Gross
proceeds from the five-year notes are expected to be C$300 million. The 4.95%
ten-year Notes, Series CD were priced at $99.953 for an effective yield of
4.956% per annum and will mature on March 15, 2017. Gross proceeds of the
ten-year notes are expected to be C$700 million.
    Net proceeds of the offering will be used for general corporate purposes
including the redemption of TELUS' 7.50 % U.S. $ Series 1 Notes due June 1,
2007. Closing of the offerings is expected to occur on or about March 13,
2007.
    The notes will be offered through a syndicate of agents led by TD
Securities Inc. and which includes BMO Capital Markets, CIBC World Markets
Inc., RBC Capital Markets Inc., Scotia Capital Inc., HSBC Securities (Canada)
Inc., National Bank Financial Inc., and Desjardins Securities Inc.
    TELUS will be filing with the securities regulatory authorities in Canada
and the U.S. a final prospectus supplement to its short form base shelf
prospectus dated August 24, 2005.

    This news release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The
securities being offered have not been approved or disapproved by any Canadian
or U.S. securities regulatory authority, nor has any authority passed upon the
accuracy or adequacy of the short form base shelf prospectus or the prospectus
supplement. Copies of the short form base shelf prospectus and the preliminary
prospectus supplement relating to the offering of the Notes as filed or to be
filed with securities regulatory authorities may be obtained from TD
Securities Inc. Fixed Income Origination, 222 Bay Street, 7th Floor, Toronto,
Ontario, M5K 1A2 c/o Patrick Scace, telephone 416-308-2172 or e-mail
patrick.scace@tdsecurities.com.


    About TELUS

    TELUS (TSX: T, T.A; NYSE:   TU) is a leading national telecommunications
company in Canada, with $8.7 billion in annual revenue and 10.7 million
customer connections including 5.1 million wireless subscribers, 4.6 million
wireline network access lines and 1.1 million Internet subscribers. TELUS
provides a wide range of communications products and services including data,
Internet protocol (IP), voice, entertainment and video services. Committed to
being Canada's premier corporate citizen, over the last six years TELUS has
contributed more than $76 million to charitable and non-profit organizations,
and has established seven TELUS Community Boards across Canada to lead its
local philanthropic initiatives.

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    Forward Looking Statements

    This news release contains forward looking statements. Forward looking
    statements are not based on historical facts, but rather on current
    expectations, Company assumptions and projections about future events,
    and are therefore subject to risks and uncertainties which could cause
    actual results to differ materially from the future results expressed or
    implied by the forward looking statements. Such statements are qualified
    in their entirety by the inherent risks and uncertainties surrounding
    future expectations. Company assumptions and risk factors are listed from
    time to time in TELUS' reports, public disclosure documents including
    Management's discussion and analysis, Annual Information Form, and in
    other filings with securities regulatory authorities in Canada and the
    United States.
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For further information:

For further information: Robert Mitchell, Investor Relations, (416)
279-3219, ir@telus.com; Allison Vale, Media Communications, (416) 629-6425,
allison.vale@telus.com

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