BCE Increases Offer To Aliant Shareholders.

MONTREAL--(BUSINESS WIRE)--Dec. 17, 1999--

$27.50 per common share offer approximate 24% premium

BCE (TSE: BCE.)(ME:BCE.)(NYSE:BCE) today announced it has increased its offer to purchase up to 15.8 million of the outstanding common shares of Aliant (TSE:AIT) from $27.00 to $27.50 per common share in cash. The offer was originally announced by Bell Canada on October 4, 1999 but is now being made by BCE.

BCE will mail an Offering Circular containing the offer to Aliant common shareholders in the week of December 20th, 1999.

BCE believes its offer constitutes an attractive opportunity for Aliant's shareholders to realize a substantial premium on their holdings. The revised $27.50 offer price represents a premium of 23.9% over the $22.20 weighted average closing price of the shares for the 20 trading days ended October 1, 1999, the last day on which the shares traded prior to the announcement of the original offer, and a 22% premium over the $22.55 closing price of the shares on October 1, 1999. If more than 15.8 million shares are tendered, BCE will acquire shares on a pro-rata basis, meaning each shareholder tendering shares will have an equal percentage of shares taken up.

The successful conclusion of the offer will increase the combined ownership of Aliant by BCE and Bell Canada from 41.4 per cent to approximately 53 per cent, if the maximum number of shares proposed in the offer is acquired.

The offer will be open for acceptance until Friday, January 21, 2000 at 5:00 p.m. (local time), and is subject to certain conditions including that a minimum of approximately 13.34 million shares be tendered.

Aliant shareholders wanting more information or instructions on how to accept the offer should follow the procedure described in BCE's Offering Circular.

BCE is Canada's largest communications company. Through its operations in communications services, BCE provides residence and business customers in Canada with wireline and wireless telecommunications products and applications, satellite communications and direct-to-home television services, systems integration expertise, electronic commerce solutions, Internet access and high-speed data services, and directories. Abroad, through Bell Canada International's investee companies, BCE provides communications services to more than 5 million customers in Asia and Latin America. BCE also has an extensive international presence through its ownership in Nortel Networks, a global leader in the design and building of communications networks, as well as through Teleglobe, an international telecommunications carrier. BCE shares are listed in Canada, the United States and Europe.