BCE to vigorously defend position at Court of Appeal - Debentureholders case without merit

    MONTREAL, March 17 /CNW Telbec/ - BCE Inc. (TSX, NYSE:   BCE) today
announced that the company has been notified that certain holders of Bell
Canada debentures, who were contesting the transaction, have initiated an
appeal of all of the recent judgments of the Québec Superior Court.
    "Our position from the start, which was supported on every point of
contention by the Québec Superior Court, is that the claims of these
debentureholders are without merit," said Martine Turcotte, Chief Legal
Officer of BCE and Bell Canada. "We will vigorously defend that position in
the Court of Appeal and believe that the Superior Court's decisions will be
upheld. As the Superior Court has concluded, BCE and Bell Canada have
respected all of the rights and reasonable expectations of the
debentureholders," added Ms. Turcotte.
    The remaining conditions to the closing of the privatization transaction
include the required approvals of the Canadian Radio-television and
Telecommunications Commission and Industry Canada. As previously disclosed,
BCE expects the transaction to close in the first part of the second quarter
of 2008, subject to the timing of the appeals.

    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 to 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 completion of the proposed privatization transaction is subject to a
number of terms and conditions, including, without limitation: (i) approval of
the CRTC and Industry Canada, (ii) resolution of the appeals filed by the
debentureholders with regard to the plan of arrangement, and any related stay
or injunction that would prevent closing pending resolution of such appeals,
and (iii) certain termination rights available to the parties under the
definitive agreement dated June 29, 2007, as amended, governing the terms of
the transaction. These approvals may not be obtained, the other 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 MD&A dated March 5, 2008 included in the Bell Canada Enterprises 2007
Annual Report, as well as to the definitive agreement dated June 29, 2007, as
amended, 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

    About BCE Inc.

    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, Media Relations, (514)
391-2007, 1-877-391-2007, jacques.bouchard1@bell.ca; Thane Fotopoulos,
Investor Relations, (514) 870-4619, thane.fotopoulos@bell.ca

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