Catalyst seeks leave to intervene in BCE and purchaser appeals to Supreme Court of Canada of Quebec Appeal Court decision rejecting leveraged buyout proposal of BCE

    TORONTO, June 6 /CNW/ - Catalyst Asset Management Inc. ("Catalyst")
announced today that it is seeking leave from the Supreme Court of Canada to
intervene in the appeals to that court by BCE Inc. ("BCE") and 6796508 Canada
Inc. (the "Purchaser") of a Quebec Court of Appeal decision rejecting a plan
of arrangement put forward by BCE related to a proposed leverage buyout
privatization of BCE by an investor group that includes Ontario Teachers'
Pension Plan, Providence Equity Partners Inc., Madison Dearborn Partners, LLC
and Merrill Lynch Global Private Equity.
    In commenting on Catalyst's reasons for seeking leave to intervene in
this proceeding, Brent Fullard, Catalyst's Executive Managing Director stated:
    "This appeal will consider the scope of directors' duties to
corporations' various security holders in the context of plans of arrangement
or other similar transactions employed to implement corporate takeovers. It is
crucial for investors and their advisors to have the assurance that directors
of corporations discharge their duties in connection with such transactions in
a manner that is fair and reasonable to all affected stakeholders."
    If Catalyst is permitted to intervene, it will focus its submissions on
advancing existing principles under Canadian law that can be applied by both
boards and courts in a consistent and predictable manner in the context of
such transactions, thereby reinforcing good corporate governance practices and
resulting in fairness to affected stakeholders and a high degree of commercial

For further information:

For further information: please see or contact
Mr. Brent Fullard either by email at or by telephone
at (647) 505-2224

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Catalyst Asset Management Inc.

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