Bell Aliant Announces Extension of its Small Unitholder Selling Program

    HALIFAX, NS, Jan. 7 /CNW/ - Bell Aliant Regional Communications Income
Fund ("Bell Aliant" or the "Fund") (TSX: BA.UN) today announced an extension
to its voluntary small unitholder selling program (the "Program") to 4:30 p.m.
(EST) on February 14, 2008.
    The Program, originally scheduled to expire on January 17, 2008, enables
Canadian registered or beneficial holders of 99 or fewer units of the Fund
(the "Units"), and Canadian registered or beneficial holders of shares of
predecessor companies of Bell Aliant equivalent to 99 or fewer Units, as of
October 15, 2007, the opportunity to sell all, but not less than all, of their
Units without incurring brokerage charges. The sale of the Units will be
executed through the facilities of the Toronto Stock Exchange.
    The Fund's transfer agent, CIBC Mellon Trust Company, will continue to
facilitate the placement of sell orders with a broker (the "Broker") and the
execution of the Program. The price received by unitholders for their Units
will be the average price received on all orders placed with the Broker for
execution on a given day, regardless of when any individual orders are
executed that day.
    Bell Aliant expects that the extension of the Program will further help
to reduce its unitholder administration costs. The Program is entirely
voluntary and unitholders are advised to contact their broker or other
financial adviser as to the suitability of participating.
    Further information can be obtained by contacting Bell Aliant or the
Fund's transfer agent, CIBC Mellon Trust Company, by telephone, toll-free at
(866) 271-6893, or through e-mail at

    About Bell Aliant

    Bell Aliant (TSX: BA.UN) is one of North America's largest regional
communications providers. Through its operating entities it serves customers
in six Canadian provinces with innovative information, communication and
technology services including voice, data, Internet, video and value-added
business solutions. Through its xwave offices, Bell Aliant also provides IT
professional services in Canada and the US. Bell Aliant's 10,000 employees are
committed to deliver the highest quality of customer service, choice and

    Forward-looking Statements

    This news release contains forward-looking statements concerning
anticipated future events, results, circumstances or expectations, in
particular regarding Bell Aliant's intention to continue and complete a small
unitholder selling program. Unless otherwise indicated, such forward-looking
statements describe our expectations at January 7, 2008. These statements are
based on management's beliefs regarding future events, many of which, by their
nature are inherently uncertain and beyond management's control. These
statements are not guarantees of future performance or events and are subject
to numerous risks and uncertainties which are difficult to predict and
assumptions which may prove to be inaccurate, including the assumption that
Bell Aliant will complete the small unitholder selling program as currently
contemplated. Except as may be required by applicable law, we disclaim any
intention and assume no obligation to update or revise any forward-looking
statement even if new information becomes available, as a result of future
events or for any other reason. Readers should not place undue reliance on any
forward-looking statements.
    %SEDAR: 00023938EF

For further information:

For further information: Media Relations: Alyson Queen, (866) 696-6700,; Investor Relations: Zeda Redden, (877) 487-5726,

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