Bell Canada Completes Public Offering of MTN Debentures

On September 20, 2005, Bell Canada closed a public offering of its 4.64 per cent medium term note debentures, series M-19, maturing on February 22, 2016, in an aggregate amount of $200 million. The offering was made pursuant to a pricing supplement dated September 16, 2005 to Bell Canada's June 8, 2005 shelf prospectus and June 9, 2005 prospectus supplement.

The offering was led by RBC Dominion Securities Inc. with a syndicate composed of BMO Nesbitt Burns Inc., CIBC World Markets Inc., Casgrain & Company Ltd., Desjardins Securities Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.

Bell Canada was represented in-house by Alain Dussault, legal counsel, and by Jean Marc Huot and Benoît Dubord of Stikeman Elliott LLP. The dealers were represented by Robert Yalden and François Paradis of Osler, Hoskin & Harcourt LLP.