Bell Aliant's Proposed Acquisition of Amtelecom Cleared by Competition Bureau

    HALIFAX, NS, March 20 /CNW/ - Bell Aliant Regional Communications Income
Fund ("Bell Aliant") (TSX: BA.UN) has been advised by the Competition Bureau
that it has reviewed Bell Aliant's proposed acquisition of Amtelecom Income
Fund ("Amtelecom") (TSX: AMT.UN) and does not have grounds to challenge the
    "We are pleased with this positive development in our efforts to complete
this acquisition," said Stephen Wetmore, President and Chief Executive Officer
of Bell Aliant. "We have made an excellent offer, and we hope it will be
favourably received by the unitholders of Amtelecom."
    On February 28, 2007, Bell Aliant made an offer to acquire all of the
outstanding units of Amtelecom at an all-cash price of $13.00 per unit (the
"Offer"). The Offer is open for acceptance until 5:00 pm (Eastern) on April 5,

    Cautionary Statement

    This news release contains certain forward-looking statements that
reflect the current views and/or expectations of Bell Aliant with respect to
its performance, business and future events. Such statements are subject to a
number of risks, uncertainties and assumptions. Actual results may vary

    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
    %SEDAR: 00023938EF

For further information:

For further information: Media Relations: Kelly Gallant, Bell Aliant,
Media Relations, (866) 762-6540,; Investor
Relations: Zeda Redden, Bell Aliant Investor Relations, (877) 487-5726,

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Bell Aliant Inc.

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