"Today, BCE is signaling its confidence in the continued growth and profitability of Telesat," said Jean Monty, BCE's president and chief operating officer. "As one of the world's most experienced satellite operators, Telesat is poised to prosper in the newly competitive global telecommunications marketplace. BCE's ownership will provide Telesat with access to the capital it needs to bring satellite solutions to customers in Canada and around the world."

"BCE's investment means a more competitive Telesat in what is becoming a more competitive worldwide market for satellite services," said Larry Boisvert, Telesat's president and CEO. "Because Telesat is Canada's flagship satellite carrier, this is very good news for the entire industry and the jobs and investment it supports right here in Canada."

In the fall of 1998, Telesat plans to launch its Nimiq direct broadcast satellite, which will bring expanded direct-to-home television services to Canadians from coast-to-coast. Telesat has also recently announced plans to launch its new Anik F series of fixed satellites starting in 2000.

BCE's commitment to Telesat's growth strategy and the synergies with BCE's other investments will be important assets to Telesat as it pursues these and other exciting opportunities.

About

BCE is Canada's largest telecommunications company. The BCE group includes: Bell Canada, the principal supplier of communications services in Ontario and Quebec; Nortel (Northern Telecom), a global leader in the design and building of telecommunications networks; Bell Canada International, a leading supplier of telecommunications services in markets outside of Canada; BCE Mobile, a provider of wireless services in Ontario and Quebec under the Bell Mobility banner; and Tele-Direct, a Yellow Pages(TM) directory publisher operating in Canada and internationally. BCE's shares are traded in Canada, the United States and in Europe.

Backgrounder -- Telesat Canada

Telesat is a world leader in satellite communications and systems management. Created in 1969, the Company made history with the launch of Anik A1 in 1972 the world's first commercial domestic communications satellite placed in geostationary orbit.

Telesat's headquarters are in Gloucester (near Ottawa), Ontario, Canada, where the majority of its almost 500 employees are located; the remainder are located in sales offices and satellite communications centres across Canada, with several teams of employees on international assignments around the world.

Telesat owns and operates two dual-band Anik E satellites, both launched in 1991. Anik E1 is used primarily for business telecommunications services, while Anik E2 is a broadcast communications satellite carrying the bulk of Canada's television signals. Telesat will launch Nimiq, the country's first direct broadcast satellite in late 1998, bringing an unprecedented range of television choice to Canadians from coast to coast.

Poised to start offering its telecommunications and broadcast services internationally, Telesat is now finalizing plans for its next generation of fixed service satellites, and is investigating how best to provide interactive multimedia services to customers in Canada and beyond.

Telesat

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