BCI Concludes CDN$800 Million Credit Facilities With Banks and BCE.

MONTREAL--(BUSINESS WIRE)--Dec. 9, 1999--

(NASDAQ:BCICF) (TSE:BI.)

Bell Canada International Inc. ("BCI") today announced that it has arranged credit facilities in the aggregate amount of Cdn$800 million with a consortium of financial institutions and BCI's majority shareholder, BCE Inc. ("BCE").

The credit facilities are comprised of Cdn$550 million of senior unsecured revolving and term loans arranged with a consortium of leading Canadian and international financial institutions and a subordinated unsecured term loan of Cdn$250 million arranged with BCE. The proceeds will be used for general corporate purposes, including the refinancing of existing indebtedness and investing activities.

Michael Sabia, Chief Executive Officer of BCI noted, "The closing of these credit facilities secures existing funding commitments through the year 2000 while providing BCI with additional financial flexibility."

Bell Canada International is in the business of building and developing world-class communications companies in markets outside Canada, with a focus on Latin America and the Asia-Pacific region. 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.