BCI Announces Special Meetings of Shareholders and Noteholders to Approve a Plan of Arrangement Including a Share Consolidation.

Business Editors

MONTREAL--(BUSINESS WIRE)--June 10, 2002

Bell Canada International Inc. (NASDAQ:BCICF) (TSX:BI.TO)

-- Proposed special meetings scheduled for July 12, 2002

-- Share consolidation will result in a total of 40 million common shares
outstanding

Bell Canada International Inc. ("BCI") today announced that it had obtained an interim court order authorizing it to hold special meetings of shareholders and noteholders on July 12, 2002 to approve a Plan of Arrangement. The record date for the meetings has been set at June 7, 2002.

As announced on June 3, 2002, BCI is seeking approval for a Plan of Arrangement pursuant to which BCI will conclude the sale of its interest in Telecom Americas; proceed with the disposition of its remaining assets in an orderly fashion; and seek expeditious resolution of outstanding claims in order to accelerate final distributions to BCI stakeholders. Court approval of the Arrangement, if granted, would be obtained shortly after the meetings.

BCI is also proposing, as part of the Plan of Arrangement, a consolidation of its outstanding common shares, to take effect shortly after court approval of the Arrangement, which would result in BCI having 40 million common shares outstanding following the consolidation, whether certain affiliates of American International Group, Inc. exercise a put option before or after the date of the meetings, or not at all. Based on the 4,797,313,638 currently outstanding common shares, the consolidation ratio would be approximately one to 120.

The formal Notice of Special Meeting and Management Proxy Circulars of BCI contain a detailed description of the proposed Arrangement and outline the actions to be taken at the special meetings of shareholders and noteholders. These materials will be mailed to all shareholders and noteholders and will also be available on BCI's website at www.bci.ca as of June 14, 2002.

BCI, through Telecom Americas, holds interest in 4 Brazilian B Band cellular companies serving more than 4.5 million subscribers in territories of Brazil with a population of approximately 60 million. BCI is a subsidiary of BCE Inc., Canada's largest communications company. BCI is listed on the Toronto Stock Exchange under the symbol BI and on the NASDAQ National Market under the symbol BCICF. Visit our Web site at www.bci.ca.

This news release may contain or refer to other communications that may contain certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements, and may contain words like "believe", "anticipate", "expect", "envisages", "will likely result", or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.