BCE states action brought on behalf of Shareholders is completely without merit

    MONTREAL, Québec, Oct. 27 /CNW Telbec/ - BCE (TSX, NYSE:   BCE) today
stated that the action brought under the Saskatchewan Class Action Act on
behalf of common shareholders of BCE is completely without merit and will be
vigorously defended in court. The Statement of Claim seeks, among other
things, the payment of BCE's second and third quarter common dividends,
damages and an injunction to halt the privatization transaction until the
dividends are paid.
    Pursuant to the Definitive Agreement relating to the privatization
transaction, as amended, the acquisition of the company is scheduled to close
on or before December 11, 2008.

    Caution Concerning Forward-looking Statements

    This news release contains forward-looking statements relating to the
proposed privatization of BCE, legal proceedings related thereto and other
statements that are not historical facts. Such forward-looking statements are
subject important risks, uncertainties and assumptions including, in
particular, the inherent uncertainty regarding the conduct, outcome and timing
of any litigation. The results or events predicted in these forward-looking
statements may differ materially from actual results or events. As a result,
we cannot guarantee that any forward-looking statement will materialize.
    The timing and completion of the proposed privatization transaction is
subject to each of the parties fulfilling their commitments under the
transaction documents and to a number of terms and conditions, including,
without limitation, the provisions of, and certain termination rights
available to the parties under, the definitive agreement dated June 29, 2007,
as amended by the final amending agreement dated July 4, 2008, governing the
terms of the transaction. The conditions to the transaction may not be
satisfied in accordance with their terms, and/or the parties to the definitive
agreement may exercise their termination rights, in which case the proposed
privatization transaction could be modified, restructured or terminated, as
applicable. Failure to complete the proposed privatization transaction could
have a material adverse impact on the market price of BCE's shares.
    The forward-looking statements contained in this news release are made as
of the date of this 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 statements
contained in this news release, whether as a result of new information, future
events or otherwise. Additionally, we undertake no obligation to comment on
expectations of, or statements made by, third parties in respect of the
proposed privatization transaction. For additional information with respect to
certain of these and other assumptions and risks, please refer to BCE's 2007
annual management's discussion and analysis ("MD&A") dated March 5, 2008
included in the Bell Canada Enterprises 2007 Annual Report, BCE's 2008 First
Quarter MD&A dated May 6, 2008, BCE's 2008 Second Quarter MD&A dated August 5,
2008, the definitive agreement dated June 29, 2007, as amended by the final
amending agreement dated July 4, 2008, and BCE's management proxy circular
dated August 7, 2007, all filed by BCE with the Canadian securities
commissions (available at www.sedar.com) and with the U.S. Securities and
Exchange Commission (available at www.sec.gov). These documents are also
available on BCE's website at www.bce.ca.

    About BCE

    BCE is Canada's largest communications company, providing the most
comprehensive and innovative suite of communication services to residential
and business customers in Canada. Under the Bell brand, the Company's services
include local, long distance and wireless phone services, high-speed and
wireless Internet access, IP-broadband services, information and
communications technology services (or value-added services) and
direct-to-home satellite and VDSL television services. BCE also holds an
interest in CTVglobemedia, Canada's premier media company. BCE shares are
listed in Canada and the United States.

For further information:

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

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