-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GvQ9mpDsrOB4/0JXs3ImY6LHL/28QQF9u79YxCOSSDXgFtS2OJs+D5qMzf0nZP8M
 qhV7FPmM8SU3Nb/vKRjFAQ==

<SEC-DOCUMENT>0001206212-06-000296.txt : 20061212
<SEC-HEADER>0001206212-06-000296.hdr.sgml : 20061212
<ACCEPTANCE-DATETIME>20061212164631
ACCESSION NUMBER:		0001206212-06-000296
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20061212
FILED AS OF DATE:		20061212
DATE AS OF CHANGE:		20061212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BCE INC
		CENTRAL INDEX KEY:			0000718940
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				99999999
		STATE OF INCORPORATION:			A8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08481
		FILM NUMBER:		061272041

	BUSINESS ADDRESS:	
		STREET 1:		1000 DE LA GAUCHETIERE OUEST
		STREET 2:		BUREAU 4100 MONTREAL
		CITY:			QUEBEC CANADA
		STATE:			A8
		ZIP:			H3B 4Y7
		BUSINESS PHONE:		5143977000

	MAIL ADDRESS:	
		STREET 1:		1000 DE LA GAUCHETIERE OUEST
		STREET 2:		BUREAU 4100 MONTREAL
		CITY:			QUEBEC CANADA
		STATE:			A8
		ZIP:			H3B 4Y7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BELL CANADA ENTERPRISES INC
		DATE OF NAME CHANGE:	19880111
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>m34139ore6vk.htm
<DESCRIPTION>NEW RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">SIGNATURE</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>







<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REPORT OF FOREIGN PRIVATE ISSUER</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt">Pursuant to Rule&nbsp;13a-16 or 15d-16 under<BR>
the Securities Exchange Act of 1934
</DIV>
<P>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">For the month of: <B>December&nbsp;2006</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Commission File Number: <B>1-8481</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P>
<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>BCE Inc.</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 1pt"><I>(Translation of Registrant&#146;s name into English)</I>
</DIV>


<P>
<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>1000, rue de La Gaucheti&#232;re Ouest, Bureau 3700, Montr&#233;al, Qu&#233;bec H3B 4Y7, (514)&nbsp;870-8777</B><BR>
<I>(Address of principal executive offices)</I>

</DIV>

<P>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Form&nbsp;20-F <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Form&nbsp;40-F <FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the Registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under the
Securities Exchange Act of 1934.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Yes <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">No <FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the Registrant in connection with
Rule&nbsp;12g3-2(b): 82-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>.
</DIV>

<P>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notwithstanding any reference to BCE&#146;s Web site on the World Wide Web in the documents attached
hereto, the information contained in BCE&#146;s site or any other site on the World Wide Web referred to
in BCE&#146;s site is not a part of this Form 6-K and, therefore, is not filed with the Securities and
Exchange Commission.
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">







<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
</DIV>
<P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>BCE Inc.</B><BR>
<BR>
<BR>
<BR>
<I>(signed)&nbsp;Siim A. Vanaselja&nbsp;</I></TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-top: 1px solid #000000" align="left">Siim A. Vanaselja<BR>
Chief Financial Officer<BR><BR><BR>

Date:&nbsp;December&nbsp;12, 2006</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="m34139orm3413900.gif" alt="(logo)">

</DIV>

<DIV align="left" style="font-size: 36pt; margin-top: 12pt">News Release<BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For immediate release

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><I>This news release contains forward-looking statements. For a description of the related risk factors and<BR>
assumptions please see the section entitled &#147;Caution Concerning Forward-Looking Statements&#148;<BR>
later in this release.</I>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 12pt"><B>Bell announces 2007 business outlook<BR>
Improving revenue and EBITDA growth in 2007 guidance</B>

</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Improvements underline confidence in operational outlook</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Focus on enhanced service quality and accelerating growth platforms</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Dividend increase, renewed share buyback</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Strengthened value proposition for investors</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>MONTR&#201;AL, December&nbsp;12, 2006 </B>&#151; BCE Inc. (TSX, NYSE: BCE) today announced its 2007 guidance for
Bell, which includes improving revenue and EBITDA growth.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The company also announced an 11% increase in its annual dividend and a renewed share buyback
program.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Bell is on an improved trajectory, one based on the successful execution of the business plan we
put into place three years ago,&#148; said Michael Sabia, President and Chief Executive Officer of BCE
and Chief Executive Officer of Bell Canada. &#147;We now have a simplified business structure, an
improved revenue mix between growth and legacy products and services, and a strengthened
operational capacity. The result is improved sustainable growth in revenues and operating earnings.
This new business and financial model allows us to invest significantly in growth platforms and to
share our progress with shareholders, providing them with improved returns now and in the future.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;The company&#146;s customer value proposition going forward is simple &#151; to deliver a differentiated
customer experience through outstanding service and compelling products, delivered over advanced
networks at a competitive cost,&#148; said Mr.&nbsp;Sabia.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;In 2007, we will intensify our efforts to enhance the customer experience, in order to create a
sustainable competitive advantage and allow us to increase the velocity of profitability of our
growth services in a disciplined way.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Bell&#146;s senior leadership team &#151; Mr.&nbsp;Sabia; George Cope, President and Chief Operating Officer; and
Siim Vanaselja, Chief Financial Officer &#151; provided details on Bell&#146;s 2007 financial guidance today
during the company&#146;s annual Business Review Conference with the investment community in Toronto.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Outlook</B><BR>
<I>Refer to the section entitled &#147;Caution Concerning Forward-Looking Statements&#148; later in this news
release for a discussion concerning the material risk factors that could affect, and the material
assumptions underlying, our 2007 financial guidance.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">BCE has provided financial guidance for 2007 as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Guidance 2007E(i)</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Bell Canada</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Revenue growth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">3% - 5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">EBITDA growth (ii)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">4% - 6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Capital intensity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">16% - 17</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>BCE Inc.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">EPS growth (iii)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right">4% - 7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Free Cash Flow (iv)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD nowrap align="right">$700M-$900M</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Dividend (v)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="right">$1.46</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NCIB Program</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="right">5% of float&nbsp;&nbsp;&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(i)</TD>
    <TD>&nbsp;</TD>
    <TD>Bell Canada&#146;s 2007 financial guidance for revenue, EBITDA and capital intensity is
exclusive of Bell Aliant.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(ii)</TD>
    <TD>&nbsp;</TD>
    <TD>The term EBITDA does not have any standardized meaning according to Canadian
generally accepted accounting principles (GAAP). It is therefore unlikely to be
comparable to similar measures presented by other issuers. We define EBITDA (earnings
before interest, taxes, depreciation and amortization) as operating income before
amortization expense and restructuring and other items. Effective in 2007, Bell Canada
is including net benefit plans cost in EBITDA. This recognizes that Bell Canada is now
cash funding its pension plan and the treatment is consistent with North American peers
allowing for greater comparability. EBITDA for prior periods will be restated to
conform to the new presentation. We use EBITDA, among other measures, to assess the
operating performance of our ongoing businesses without the effects of amortization
expense and restructuring and other items. We exclude these items because they affect
the comparability of our financial results and could potentially distort the analysis
of trends in business performance. We exclude amortization expense because it largely
depends on the accounting methods and assumptions a company uses, as well as
non-operating factors such as the historical cost of capital assets. Excluding
restructuring and other items does not imply they are necessarily non-recurring. EBITDA
allows us to compare our operating performance on a consistent basis. We believe that
certain investors and analysts use EBITDA to measure a company&#146;s ability to service
debt and to meet other payment obligations, or as a common measurement to value
companies in the telecommunications industry. The most comparable Canadian GAAP
financial measure is operating income. For 2007, we expect growth in operating income
to be between 13% to 15% for Bell Canada excluding Bell Aliant.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(iii)</TD>
    <TD>&nbsp;</TD>
    <TD>Before net gains (losses)&nbsp;on investments and restructuring and other items.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(iv)</TD>
    <TD>&nbsp;</TD>
    <TD>The term free cash flow does not have any standardized meaning prescribed by
Canadian GAAP. It is therefore unlikely to be comparable to similar measures presented
by other issuers. We define it as cash from operating activities less capital
expenditures, total dividends and other investing activities. Free cash flow is
presented on a consistent basis from period to period. We consider free cash flow to be
an important indicator of the financial strength and performance of our business
because it shows how much cash is available to repay debt and to reinvest in our
company. Free cash flow allows us to compare our financial performance on a consistent
basis. We believe that free cash flow is also used by certain investors and analysts in
valuing a business and its underlying assets. The most comparable Canadian GAAP
financial measure is cash from operating activities. For 2007, BCE expects to generate
approximately $700&nbsp;million to $900&nbsp;million in free cash flow. This amount reflects
expected cash from operating activities of approximately $5.6&nbsp;billion to $5.8&nbsp;billion
less capital expenditures, total dividends and other investing activities.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(v)</TD>
    <TD>&nbsp;</TD>
    <TD>Subject to declaration by BCE Inc.&#146;s board of directors.</TD>
</TR>

</TABLE>


<P align="right" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">






<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A target revenue growth of 3% to 5% in 2007 is expected to result from Bell&#146;s enhanced ability
to compete within growth markets and against the maturing cable telephony sector. Growth services
combined are expected to represent approximately 60% of total revenue at the end of 2007. Bell&#146;s
wireless subscriber base is expected to grow by 8% to 10% in 2007, video subscribers by 5% to 7%
and high-speed Internet subscribers by 8% to 10%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With network access services (NAS)&nbsp;erosion stabilizing, improving growth services margins and
ongoing productivity improvements, Bell expects EBITDA growth of 4% to 6% in 2007. Expected
productivity improvements of approximately $450&nbsp;million in 2007 should further enhance the
competitive cost structure, enabling Bell to shift investment toward long-term growth and enhanced
service delivery.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With expected capital intensity of 16% to 17%, Bell will continue to make disciplined capital
expenditure investments in its strategic growth platforms. Roughly 75% of capex will be allocated
to its strategic priorities, such as enhancing customer service, its wireless operations and the
company&#146;s advanced residential broadband network.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Bell expects no significant escalation in cash taxes through 2010, due to organizational
simplification enabling accelerated use of Bell&#146;s R&#038;D tax credits.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Bell&#146;s key operational priorities in 2007</B><BR>
Bell is Canada&#146;s leading provider of communications services, with a focus on growth areas such as
wireless, video, high-speed Internet and ICT (Information and Communications Technology) services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Having made significant progress in its operational efficiency and productivity improvement
programs, Bell is intensifying its focus on delivering enhanced service quality, driving the
performance of its wireless and broadband services and growing the profitability of the company&#146;s
business sector operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;We will execute on our priorities based on a foundation of market leadership behaviour and a
balance between profitable growth and enhanced market share,&#148; said George Cope, Bell Canada&#146;s
President and Chief Operating Officer. &#147;With an increasingly cost-efficient structure, Bell is well
positioned to leverage our unique network, product and brand assets to offer a differentiated
customer service experience.&#148;
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Service quality </B>&#151; With a focus on people, products and processes,
Bell aims to consistently meet or exceed customer expectations and
enhance their overall experience with Bell. This focus on service
quality will differentiate Bell from competitors and ensure
long-term customer loyalty to the Bell brand and products.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Wireless growth </B>&#151; A key driver of growth and financial
performance, the wireless business is supported by ongoing
enhancements to broadband EVDO and overall network quality. Bell
is focused on delivering continued improvements in ARPU and data
growth, while always ensuring its competitive share of net
subscriber additions.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Broadband acceleration </B>&#151; Bell is investing in ongoing advanced
network enhancements, such as the continued rollout of FTTN &#151;
which has already reached 1&nbsp;million homes &#151; in order to maintain
leadership in the residential sector and to enable IPTV services.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Productivity improvements </B>&#151; A core element of financial
performance, productivity improvements have enabled Bell&#146;s
increased competitiveness in the marketplace. 2007</TD>
</TR>

</TABLE>
</DIV>
<P align="right" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">productivity improvements are expected to amount to approximately $450&nbsp;million, and cost
discipline remains a centrepiece of the company&#146;s strategy.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Business sector profitability </B>&#151; With a focus on ICT/VCIO profitability, Bell is leveraging
the unique capabilities and scale in its Enterprise and SMB operations to access adjacent
market opportunities and pull-through connectivity revenues.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Going forward into 2007, our competitive cost structure and state-of-the-art networks will allow
us to intensify service improvements while stepping up performance and profitability of our growth
engines,&#148; said Mr.&nbsp;Cope.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Dividend increase, NCIB buyback</B><BR>
The common share dividend increase announced today underlines Bell&#146;s long-term growth model and its
position as a market leader in shareholder distributions. The annual dividend will increase by 11%
to $1.46 per share. Based on the current competitive and technological environment, the Board
believes that a distribution policy with a target dividend payout of 70% to 75% of EPS before net
gains (losses)&nbsp;on investments and restructuring costs provides sufficient financial flexibility to
continue the growth and improvement of the business while delivering significant distributions to
shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;The Board&#146;s new distribution policy announced today ensures that as our earnings grow,
shareholders can be confident they will share in our progress with a growing dividend,&#148; said Mr.
Sabia.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">BCE also announced it will renew its share buyback program upon expiry of the current one in early
February&nbsp;2007, with a Normal Course Issuer Bid (NCIB)&nbsp;targeting approximately 5% of its outstanding
common shares, with an estimated value in excess of $1&nbsp;billion. BCE&#146;s NCIB is subject to approval
by the Toronto Stock Exchange. Purchase of the shares will be carried out through the Toronto Stock
Exchange and/or the New York Stock Exchange and will be made in accordance with the requirements of
such exchanges.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Elimination of holding company operations</B><BR>
BCE also announced today that it will not move forward with the planned conversion into an income
trust announced by the company on October&nbsp;11, 2006. However, the company is continuing with
previously announced plans to simplify its corporate structure and eliminate BCE&#146;s holding company
operations. As part of this process, BCE intends, at its next annual shareholders meeting, to
change its name to Bell Canada Inc. and have two principal reporting segments: Bell and Bell Aliant
Regional Communications. Bell Canada also intends to change its name to Bell Inc. at the same time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under a plan of arrangement, and as part of the corporate simplification process, holders of Bell
Canada preferred shares will be asked to exchange their shares for BCE preferred shares with the
same series rights. The arrangement will also provide for a one-time special dividend of $0.20 per
Bell Canada preferred share outstanding immediately prior to the exchange. The arrangement must be
approved by the holders of common and preferred shares of Bell Canada, each voting as a class, at a
special meeting to be held on January&nbsp;23, 2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Business Review Conference</B><BR>
BCE&#146;s Business Review Conference is being webcast live beginning at 9:00 am ET, today from the
company&#146;s website: <U>www.bce.ca</U>.
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About BCE</B><BR>
BCE is Canada&#146;s largest communications company. Through its 28&nbsp;million customer connections,
Montreal-based BCE provides the most comprehensive and innovative suite of communication services
to residential and business customers in Canada. Under the Bell brand, the Company&#146;s services
include local, long distance and wireless phone services, high-speed and wireless Internet access,
IP-broadband services, information and communications technology services (or value-added services)
and direct-to-home satellite and VDSL television services. Other BCE businesses include Canada&#146;s
premier media company, Bell Globemedia, and Telesat Canada, a pioneer and world leader in satellite
operations and systems management. BCE shares are listed in Canada, the United States and Europe.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Caution concerning Forward-Looking Statements</B><BR>
Certain statements made in this press release, including, but not limited to, financial guidance
relating to revenue growth, EBITDA growth, capital intensity, earnings per share (EPS)&nbsp;growth and
free cash flow, expected growth in subscribers, target dividend payout ratio, anticipated
productivity improvements, net benefit plans cost, investments and losses in network access
services (NAS), the expected launch of new services, products and technologies, our plans and
strategies and other statements that are not historical facts, are forward-looking statements and
are subject to important risks, uncertainties and assumptions. The results or events predicted in
these forward-looking statements may differ materially from actual results or events. As a result,
you are cautioned not to place undue reliance on these forward-looking statements. The
forward-looking statements contained in this press release represent the expectations of BCE Inc.,
Bell Canada and their respective subsidiaries (collectively we, us, our or Bell) as of December&nbsp;12,
2006 and, accordingly, are subject to change after such date. However, we disclaim any intention
and assume no obligation to update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. Except as otherwise indicated by Bell, these
statements do not reflect the potential impact of any non-recurring or other special items or of
any dispositions, monetizations, mergers, acquisitions, other business combinations or other
transactions that may be announced or that may occur after the date hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Material assumptions</B><BR>
A number of Canadian economic and market assumptions were made by Bell in making forward-looking
statements for 2007 contained in this release, including but not limited to: (i)&nbsp;Canadian GDP
growth in 2007 to be essentially in line with GDP growth in 2006, consistent with estimates by the
Conference Board of Canada, (ii)&nbsp;the Bank of Canada prime rate and the Consumer Price Index, as
estimated by Statistics Canada, to decline from current levels, (iii)&nbsp;growth in the overall
Canadian telecommunications market revenues in 2007 to be in line with Canadian GDP growth, (iv)
revenues of the residential voice telecommunications market in Canada to continue to decrease in
2007 due to wireless substitution, the Internet, and other factors, (v)&nbsp;wireline competition in
both the business and residential telecommunications markets in Canada to continue in 2007 mainly
from cable companies, and (vi)&nbsp;the 2007 revenue growth rates of the Canadian wireless and video
industries to be in line with 2006 and the 2007 revenue growth rate of the Canadian Internet market
to be slightly lower than 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, BCE Inc.&#146;s and Bell Canada&#146;s 2007 guidance is also based on various internal financial
and operational assumptions. Our guidance related to Bell Canada (excluding Bell Aliant) is based
on certain assumptions concerning Bell Canada, including but not limited to: (i)&nbsp;revenue growth
estimates for 2007 being based upon an assumption of increasing average revenue per unit (&#147;ARPU&#148;)
across various lines of service, (ii)&nbsp;a wireless subscriber growth rate of 8% to 10%, a video
subscriber growth rate of 5% to 7% and a high speed Internet subscriber growth rate of 8% to 10%,
(iii)&nbsp;residential NAS losses to stabilize in 2007 compared to 2006, (iv)&nbsp;Bell Canada&#146;s 2007 total
net benefit plans cost, which assumes a discount rate of 5.4%, being expected to be approximately
$325&nbsp;million, (v)&nbsp;the funding of our total net benefit plans in 2007 estimated to be approximately
$300&nbsp;million, (vi)&nbsp;Bell Canada&#146;s capital intensity in 2007 being
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">estimated to be in the 16% to 17% range, and (vii)&nbsp;2007 productivity improvements at Bell Canada
estimated at approximately $450&nbsp;million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our guidance related to BCE Inc. is based on certain assumptions, including but not limited to: (i)
in 2007, Bell to incur restructuring costs in the range of $100&nbsp;million to $150&nbsp;million, (ii)
amortization expense for 2007 in the range of $3,200&nbsp;million to $3,300&nbsp;million, (iii)&nbsp;Bell&#146;s
effective tax rate in 2007 to be approximately 26%, (iv)&nbsp;no significant escalation in cash taxes in
2007 as we have assumed that the simplification of our organizational structure should permit the
accelerated use of Bell Canada&#146;s R&#038;D tax credits, and (v)&nbsp;EPS for 2007 to be positively impacted by
the planned repurchase of common shares under BCE Inc.&#146;s normal course issuer bid for 5% of its
outstanding common shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Bell&#146;s forward-looking statements for time periods subsequent to 2007 involve longer term
assumptions and estimates than forward-looking statements for 2007 and are consequently subject to
greater uncertainty. Therefore, you are especially cautioned not to place undue reliance on such
long-term forward-looking statements. The forward-looking statement concerning Bell&#146;s cash taxes
for 2008 to 2010 assumes no significant escalation in cash taxes as we expect that the
simplification of our organizational structure will permit the accelerated use of Bell Canada&#146;s R&#038;D
tax credits.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The foregoing assumptions, although considered reasonable by Bell at the time of preparation of
such guidance and other forward-looking statements, may prove to be inaccurate. Accordingly, our
actual results could differ materially from our expectations as set forth in this press release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Risks that could affect our business and results</B><BR>
Risk factors that could cause results or events to differ materially from current expectations
include, among other things: our ability to implement our strategies and plans in order to produce
the expected benefits and growth prospects, including meeting targets for revenue growth, EBITDA
growth, capital intensity, EPS growth and free cash flow; our ability to implement the significant
changes in our processes, in how we approach our markets and in how we develop and deliver products
and services, required by our strategic direction; general economic and market conditions and the
level of consumer confidence and spending, and the demand for, and prices of, our products and
services; the intensity of competitive activity from both traditional and new competitors, Canadian
or foreign, including in particular from cable companies, including cross-platform competition,
which is increasing following the introduction of new technologies such as Voice over Internet
Protocol (VoIP) which have reduced barriers to entry that existed in the industry, and its
resulting impact on the ability to retain existing, and attract new, customers, and on pricing
strategies and financial results; the increase in wireless competitive activity that could result
from Industry Canada&#146;s intention to initiate a consultation concerning the licensing of additional
wireless spectrum; the potential adverse impact on our business of wireless number portability; the
ability to continue to implement our cost reduction initiatives and productivity improvements and
contain capital intensity while improving quality of services; the ability to achieve customer
service improvement, which is critical to customer retention and ARPU growth, while significantly
reducing costs; the ability to anticipate, and respond to, changes in technology, industry
standards and client needs and invest in and migrate to and deploy new technologies, including
VoIP, and offer new products and services on a timely basis and achieve market acceptance thereof;
the availability and cost of capital required to implement our financing plans (including BCE
Inc.&#146;s share buyback program and dividend policy) and fund capital and other expenditures; the fact
that depending on the competitive and technological environment at any given time there can be no
guarantee that BCE&#146;s dividend policy will be maintained; that the proposed public offering and
recapitalization of Telesat are subject to various conditions, as well as BCE Inc. being satisfied
that prevailing market conditions are conducive to allowing BCE Inc. to obtain a favourable and
acceptable valuation in respect of Telesat, and the adverse impact on BCE Inc.&#146;s liquidity and
share buyback program should these transactions not be completed; our ability to find suitable
companies to acquire or to partner with and to make and complete
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">dispositions of assets or businesses; the impact of pending or future litigation, including class
actions, and of adverse changes in laws or regulations, including tax laws, or in how they are
interpreted, or of adverse regulatory initiatives or proceedings, including decisions by the CRTC
affecting our ability to compete effectively; the risk of litigation should BCE Inc. or Bell Canada
stop funding a subsidiary or change the nature of its investment, or dispose of all or part of its
interest, in a subsidiary; the risk of increased pension plan contributions; our ability to manage
effectively labour relations, negotiate satisfactory labour agreements, including new agreements
replacing expired labour agreements, while avoiding work stoppages, and maintain service to
customers and minimize disruptions during strikes and other work stoppages; events affecting the
functionality of our networks or of the networks of other telecommunications carriers on which we
rely to provide our services; events that could adversely affect the business and operations of
service providers to whom we outsource services; our ability to improve and upgrade, on a timely
basis, our various IT systems and software on which many aspects of our businesses, including
customer billing, depend; stock market volatility; the risk that licences on which we rely to
provide services might be revoked or not renewed when they expire; our ability to retain major
customers; health concerns about radio frequency emissions; and the launch and in-orbit risks,
including the ability to obtain appropriate insurance coverage at favourable rates, concerning
Telesat&#146;s satellites, certain of which are used by Bell ExpressVu to provide services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For additional information with respect to certain of these and other assumptions and risk factors,
please refer to the Safe Harbor Notice Concerning Forward-Looking Statements dated December&nbsp;12,
2006 filed by BCE Inc. with the U.S. Securities and Exchange Commission, under Form 6-K, and with
the Canadian securities commissions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Safe Harbor Notice Concerning Forward-Looking Statements is also available on BCE Inc.&#146;s
website at <U>www.bce.ca</U>. Please also refer to the presentations made at the <I>Bell 2007 Business Review
Conference </I>available on BCE Inc.&#146;s website for additional information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>For more information:</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Media relations</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left"><B>Investor relations</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Pierre Leclerc</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Thane Fotopoulos</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">(514)&nbsp;391-2007 / 1 877 391-2007</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">(514) 870-4619</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><U>pierre.leclerc@bell.ca</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left"><U>thane.fotopoulos@bell.ca</U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="right" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>m34139orm3413900.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 m34139orm3413900.gif
M1TE&.#EA[@!>`,00`("`@,#`P$!`0!`0$/#P\-#0T*"@H.#@X"`@(%!04+"P
ML&!@8)"0D#`P,'!P<````/___P``````````````````````````````````
M`````````````````````````"'Y!`$``!``+`````#N`%X```7_("2.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0J'1*K5JOV*QVR^UZ
MO^"P>$PNF\_HM'K-;KO?\+A\3J\W`?;\E_%0Z/]:"`\)@(56#@\/!X:,406)
M>(V2/P$!#``.`@*"`P4C@@B3HC0%`0`+`@V)JZP/`P$DB'VCM"D!!@"IK:P-
M`@X`!@&+)@>0M;4%"@`)@KL/O0`,PB\`B0NGFIO.K;W9U]*>QV$%!IG;`@D`
M"N$IPR<'`]OR\ZP#`@SNXE8%#`+QK0C2*<AG@L"M7*H6M%MU#4"T2A"GD3@0
M\=(R5?5@Z9-"P,""?ZL&I`M`0`6Y3"`3_R$0X"=%M0>1<!P``%+`1B@*%@!<
M8(!@"4NH6*T$)I$%@7@#2N8H`#+FS20$:+*ZYW/$28R)?$E3.D,6`QQ103K@
M^M1(V%4-#)`EP2_!OP8CJ](H]B#47`,)IFHL>T0!R`1R<PX8:H#=CV9[6QSP
MV&R5@,1\B]!-9$!%I;5`#'!2R&+Q@L9H\456$H#5UQ\$,*O0V4`%Q5PI5?*4
M.YK(458)"M,P:`D;1MHG2@_XB<N?LP:S:T,ID'=7-U\.HTM'9=S92D(M.GZ$
MI$F>/0`DE5?1#IK>5$T.I4%N=W#[/&C!5(N_PCNB?8CR3Y12AJU\J^_JA#=?
M'J68@HDF_KF23?]T"E0"@2#8#6C'`=HD8H\W#%8"G`@*N&*8A'2L=T-I3H%X
MTP$?BF``3";R)4!=#JP#P4SQE-@B"OQ)I^-6.40E74D^1I>B23GJ",R0(QSP
MF3.=4!&D0QMZD:`S"2#YPHHA<=B*E4DRX)9Y-NK'0":^J%4%EJM$R<5DYKDB
MX@LZK8)=G"JMH$""*V5C7%)JT%E7&GRPTI((`32W2IA6Y0=!2I4]R`IG)Q#P
M8CT.O'G`H,1H.,,!BI90WPL$?`B:`^P%P*44AB:RUB."LH70?P(LD`^K:4)`
M:R*8DD``5HDDT"D)Y5372FYD^<F``BA-5>E/R^#I@$\!9`):0(5M.4+_<;$E
MT@`#OS+1BDTC!.`GBR)0V&:C$+RDK0B!KB(?KP^@JUB;#7"5TI2K&#8I/>@2
M((MW]9#09I-5=#BPK.&FM(",MZ2DT;X/D`H!Q*V=T*XQ,/C%4S@4,9#2:;>J
MI%ZAPPI\CX"5I#H<!+NVPE,E'N\":0`B!2."00KP&N$4_[X'`#NW$@SLHRRW
M`@L!K2!:7K<NJ$NNTP]`^@DK$K,@E`@0O^)I>;FB4!I#5DRK8\\/"%"2RGIF
MPZM-!ENH)2M(`B2#*=EDNTJC%&/6RJ#:(2B/36CB>@+47!60BR9V8SP%FU&;
M$#*W;;;RE9]S!HS"+FIRZ-^%$#\`I-&.MU+N_[C:(LX*'JE6;`+$V`70>5;=
ML?)F$Q?':\+7JT@CU'V\EP1:HZ!)74+G];;@]+;Y.`UNVZX,/A4$-%.=V&VK
M^$'Q"8$_\%7@`S!@&.ZJ5I&JYR,0@.R]J2FLVF(:A;P(X_*6$+(KRV:ZB+7E
MUWY:SSN/P"OJ5)-?YT0P/JGY"W.+:A4)_/*\*D3.,>'(7MD:TJQ$A.-B=JF=
MH@*0(,Y5:!8`^<4RG*&1WQ7$6@5TB`/@5381,`4@"3"'<T20D@&(<$E)*UCD
M1`(9!8S/.B.`F,12UP(#L'`;GKC3-A```%Z5JQ4^X=[-?BBG5%7MA=M@1@!M
M=417+(!777N"@8SDD/]@S"Y<RUB00P0D`AV%0T=AM$5O#B2`Z-@,C;E(AS14
M))URZ2@XTI$7/[#QBX%`3SJ0Z0UU8L3'Z.3#0`FH(WA*@@M'WNB2F,RD)C?)
MR4YZT@<SZ>-H:C>/,\K`(&K`8&U>)P^FJ<`CD^I?&5(EO)L@;2IDC$X.)/?)
M+C#O`::$7D1<6"3OD0`BV3-C4<)ED?2(B"(0N5F..&6?<E6RC#Z!YF4(Y4AM
M.F@BUY2.(1W7S#6FP'QDE-$6QL6"D!F`E66#!>.V@:YW>@<P),`*`@Z@,@@$
MSA=3:@"F4B6NE!#`3W9)%[YL=RUX]LHP#.BBXK(`F@;P[IL0(*6"=-$*`FC_
M=!<E4>(J`G(*7O%I1D*)C4)(5Q=-L!!=-2Q92DC5,J&D(Y(-6!D$1*J2.GZQ
M'D#JG$C2^")7,F%^VU`=\3`UKKW`KP2!0T"N>A8)"2Y@9)Z(C46'Q@L7[J*.
M$"E`R&!1.RN!#P'Q8YY"DCF&C^[B-+=$RUI^R0X-+K`>#;+//PF(/[:X##/C
M:Z/+3."TE8UOJ)#!(JYX)SJH?8>-7(!80E/PR_7T3*<02%7_)'J.HIWN!)=5
M#<3`I;,3\(HS!<!7`EI"Q7D,IZ94BA]]6E&U%/A)=?DDVLU:$;]OI>VW==RI
MY4RPMG?0UK/5.Z$"79B+!%F/%\!-VQ7[<<3:7J&R_RP`S6DFLK<1_'(M8'0!
MY8Q[-4^9U!-2-$'V\@,U`-ZM!MD#5Q;&E4N'>!5NZAUN1I/VOD7T#`'/8HLR
M[C&"CV'OJXTJ@`-J&([QFL#!##!FN,8'"^XAS"JFB"&[?G9,J,FV"@NUG"I-
MH%E=R<,/!&CM+EH2LB&IV#KL8-0)#!Q7[S3J@.>B(3T&@*@I(+6S$]MB"63,
M%BIRI:!)]<4("HN"F0+`/PA8F%]9X1/W[71*Z."6_'"XBY4$.+5)38!H;E*@
M9<JO$J>R$^@(A1]*1/,%95Y!F8W:2Q-<ML['`(TL\<R(I_+YSX`.M*`'3>A"
;&_K0B$ZTHA?-Z$8[^M&0C@BTI"=-:4^&```[
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
