Bell Mobility Raises $150 Million for Network Expansion.

MONTREAL--(BUSINESS WIRE)--Sept. 30, 1997--(ME, TSE:BCX.) BCE Mobile Communications Inc. (BCE Mobile) today announced that its subsidiary, Bell Mobility Cellular Inc., has arranged the private placement in Canada of $150 million of Senior Unsecured Debentures, Series F, due June 2008. The issue was underwritten by a group of major Canadian investment dealers, led by RBC Dominion Securities Inc. along with CIBC Wood Gundy Securities Inc., Nesbitt Burns Inc. and Scotia Capital Markets. The debentures carry a coupon of 6.55 percent and were priced at $99.656 to yield 6.594 percent. The issue is expected to close on October 9, 1997.

The proceeds of the issue will be used primarily for the corporation's capital expenditure program relating to its digital PCS and analog cellular networks. Bell Mobility intends to launch its PCS service in October.

David Lazzarato, BCE Mobile's senior vice-president and chief financial officer said, "We are extremely pleased to have once again received a vote of confidence from Canadian capital markets, having taken advantage of our investment-grade credit rating in what has proven to be a rather challenging corporate bond market in the last few weeks."

BCE Mobile is the Canadian leader in wireless communications. Its subsidiaries, operating under the Bell Mobility banner, provide cellular, paging, data, satellite and airline passenger communications services and are involved in the sale of cellular hardware and private radio systems. BCE Mobile is a publicly traded subsidiary of BCE Inc.

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John Gutpell, 514/956-4827

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