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<SEC-DOCUMENT>0000950123-08-007779.txt : 20080711
<SEC-HEADER>0000950123-08-007779.hdr.sgml : 20080711
<ACCEPTANCE-DATETIME>20080710184535
ACCESSION NUMBER:		0000950123-08-007779
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20080711
DATE AS OF CHANGE:		20080710
GROUP MEMBERS:		MERRILL LYNCH & CO., INC.
GROUP MEMBERS:		MERRILL LYNCH BANK & TRUST COMPANY, FSB
GROUP MEMBERS:		MERRILL LYNCH CANADA INC.
GROUP MEMBERS:		MERRILL LYNCH INTERNATIONAL
GROUP MEMBERS:		MERRILL LYNCH PORTFOLIO MANGERS LTD.

SUBJECT COMPANY:	

	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:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-36793
		FILM NUMBER:		08947913

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERRILL LYNCH PIERCE FENNER & SMITH INC
		CENTRAL INDEX KEY:			0000728612
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CENTER
		STREET 2:		NORTH TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080
		BUSINESS PHONE:		2126702273

	MAIL ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CENTER
		STREET 2:		NORTH TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>y62718sc13dza.htm
<DESCRIPTION>AMENDMENT NO. 1 TO SCHEDULE 13D
<TEXT>
<HTML>
<HEAD>
<TITLE>SC 13D/A</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<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>UNITED STATES<BR>
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: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SCHEDULE
13D/A</B>
</DIV>
<DIV align="center" style="font-size: 12pt; margin-top: pt"><B>Under the Securities Exchange Act of 1934</B>
</DIV>
<DIV align="center" style="font-size: 12pt; margin-top: 6pt"><B>(Amendment
No. 1)</B></DIV>


<DIV align="center" style="font-size: 24pt; margin-top: 12pt">BCE Inc.
<DIV style="font-size: 3pt; margin-top: 0pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 10pt">(Name of Issuer)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Common Shares, no par value</B>
<DIV style="font-size: 3pt; margin-top: 0pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></div>
<DIV align="center" style="font-size: 10pt">(Title of Class of Securities)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>05534B760 4</B>
<DIV style="font-size: 3pt; margin-top: 0pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(CUSIP Number)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Frank J. Marinaro, Esq.<BR>
Merrill Lynch &#038; Co., Inc.<BR>
4 World Financial Center<BR>
250 Vesey Street<BR>
New York, New York 10080<BR>
Telephone: (212)&nbsp;449-1000</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Name, Address and Telephone Number of Person</FONT></DIV>
Authorized to<BR>
Receive Notices and Communications)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">with a
copy to:</div>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Gavin D. Solotar, Esq.<BR>
Wachtell, Lipton, Rosen and Katz<BR>
51 W. 52</B><SUP style="font-size: 85%; vertical-align: text-top"><B>nd</b></SUP> <b>Street<BR>
New York, NY 10019<BR>
Telephone: (212)&nbsp;403-1000</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>July&nbsp;4,
2008</B>
<DIV style="font-size: 3pt; margin-top: 0pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Date of Event Which Requires Filing of this Statement)</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the filing person has previously filed a statement on Schedule&nbsp;13G to report the
acquisition that is the subject of this Schedule&nbsp;13D, and is filing this schedule because of
&#167;&#167;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. <FONT face="Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note: Schedules filed in paper format shall include a signed original and five copies of the
schedule, including all exhibits. See &#167;240.13d-7 for other parties to whom copies are to be sent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information required on the remainder of this cover page shall not be deemed to be &#147;filed&#148;
for the purpose of Section&nbsp;18 of the Securities Exchange Act of 1934 (&#147;Act&#148;) or otherwise subject
to the liabilities of that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
</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 --><!-- /Folio -->
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No. 1 (this &#147;Amendment&#148;)
 amends the Statement of Beneficial Ownership on Schedule 13D originally filed with the Securities and Exchange Commission (the &#147;SEC&#148;) on October 30, 2007
 (the &#147;Schedule 13D&#148;) by Merrill Lynch, Pierce,
 Fenner &#038; Smith Incorporated (&#147;<U>MLPF&#038;S</U>&#148;),
Merrill Lynch International (&#147;<U>MLI</U>&#148;), Merrill Lynch
Canada Inc. (&#147;<U>MLCI</U>&#148;), Merrill Lynch Portfolio Managers Ltd.
 (&#147;<U>MLPM</U>&#148;), Merrill Lynch Bank &#038; Trust Company, FSB
(&#147;<U>MLBTC</U>&#148;), and Merrill Lynch &#038; Co., Inc.
(&#147;<U>ML&#038;Co</U>&#148;) (MLPF&#038;S, MLI, MLCI, MLPM, MLBTC and ML&#038;Co, each
 a &#147;<U>Reporting Person</U>,&#148; and collectively, the
&#147;<U>Reporting Persons</U>&#148;) with respect to the common
shares, no par value (the &#147;<U>Common Shares</U>&#148;) of BCE Inc.,
 a corporation incorporated under the laws of Canada (the
&#147;<U>Company</U>&#148;).  Unless specifically amended hereby, the disclosures set forth in the Schedule
 13D
 shall remain unchanged. Capitalized terms used herein but not otherwise defined herein shall have the meanings set forth in the Schedule 13D.</DIV>

<DIV align="left">
<A name="101"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ITEM
4. </B><U><B>Purpose of Transaction</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ITEM 4 IS AMENDED TO ADD THE FOLLOWING:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July 4, 2008, a Final Amending
 Agreement (the &#147;<U>Amending Agreement</U>&#148;) was entered into by and between the Issuer and BCE Acquisition Inc. (f/k/a 6796508 Canada Inc.) (the &#147;<u>Buyer</u>&#148;), a
 Canadian corporation formed by Teachers&#146;, Providence Equity Partners Inc. and Madison Dearborn Partners, LLC, amending certain terms of that certain
 Definitive Agreement, made as of June 29, 2007, as amended July 12, 2007 (as amended, supplemented or otherwise modified from time to time,
 the &#147;<U>Amended
 Definitive Agreement</U>&#148;).  The Definitive Agreement and the July 12, 2007 amendment were previously filed as Exhibit 99.2 and 99.3, respectively, to the
 Schedule 13D.  Pursuant to the terms of the Amended Definitive Agreement, the Buyer will, under the terms of a plan of arrangement, acquire all of the
outstanding equity interests of the Company and amalgamate the
Company with and into a subsidiary of the Buyer (the &#147;<U>Transaction</U>&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the terms of the Amending
 Agreement, the purchase price to be paid by the Buyer for each outstanding Common Share remains unchanged at CDN$42.75 per share in cash, and the
 purchase price for each outstanding share of the Company&#146;s preferred stock remains unchanged at CDN$25.25 to CDN$25.87 per share in cash, depending
 on the series of the security, together with accrued but unpaid dividends in the case of the preferred stock.  In accordance with the Amending Agreement, the Company will not pay dividends
 on its Common Shares but will continue to pay dividends on shares of its preferred stock. In addition, pursuant to the terms of the Amending Agreement, among other things, the
reverse break fee payable by the Buyer in the circumstances contemplated by the Definitive Agreement has been increased from CDN$1.0 billion to CDN$1.2 billion and the
closing of the Transaction is scheduled to occur on or before December 11, 2008.</DIV>


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

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Concurrently with the execution of the Amending Agreement, the Buyer and certain lenders delivered fully negotiated and executed credit documents for the purpose of funding the Transaction, including an executed credit agreement and other financing documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The closing of the Transaction remains subject to the satisfaction of certain conditions precedent thereto, including the receipt of &#147;refreshed&#148; antitrust approval.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The summary of the Amending Agreement set forth above does not purport to be complete and is qualified in its entirety by reference to the copy of the Amending Agreement which is filed as Exhibit 99.4 hereto and is incorporated herein by reference.</DIV>
<DIV align="left">
<A name="103"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ITEM
6. </B><U><B>Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please see Item 4 above.
</DIV>

<DIV align="left">
<A name="104"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ITEM
7. </B><U><B>         Material to be Filed as Exhibits</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ITEM 7 IS AMENDED TO ADD THE FOLLOWING:
</DIV>


 <DIV align="left">
<A name="105"></A>
</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="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Final Amending Agreement, dated
July 4, 2008, by and between BCE Acquisition Inc. (f/k/a 6796508
Canada Inc.) and BCE Inc.</TD>
</TR>
</table>
</DIV>

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

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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

<DIV align="left">
<A name="108"></A>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After reasonable inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and correct.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated:
July&nbsp;10, 2008
</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="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MERRILL LYNCH, PIERCE, FENNER &#038;<BR>
SMITH INCORPORATED</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>


<TD align="left" valign="bottom">/s/&nbsp;Jonathan&nbsp;Santelli<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jonathan Santelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Assistant Secretary</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MERRILL LYNCH &#038; CO., INC.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="bottom">/s/&nbsp;Jonathan&nbsp;Santelli<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jonathan Santelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Assistant Secretary</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MERRILL LYNCH INTERNATIONAL</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="bottom">/s/&nbsp;Jonathan&nbsp;Santelli<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jonathan Santelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MERRILL LYNCH CANADA INC.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="bottom">/s/&nbsp;Jonathan&nbsp;Santelli<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jonathan Santelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MERRILL LYNCH PORTFOLIO MANAGERS LTD.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="bottom">/s/&nbsp;Jonathan&nbsp;Santelli<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jonathan Santelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MERRILL LYNCH BANK &#038; TRUST COMPANY, FSB</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="bottom">/s/&nbsp;Jonathan&nbsp;Santelli<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jonathan Santelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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

<DIV align="left">
<A name="109"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</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="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Joint Filing Agreement, dated October&nbsp;29, 2007, among Merrill
Lynch, Pierce, Fenner &#038; Smith Incorporated, Merrill Lynch &#038; Co.,
Inc., Merrill Lynch International, Merrill Lynch Canada Inc.,
Merrill Lynch Portfolio Managers Ltd. and Merrill Lynch Bank &#038;
Trust Company, FSB</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Definitive Agreement dated June&nbsp;29, 2007, by and between 6796508
Canada Inc. and BCE Inc. (incorporated by reference to Exhibit&nbsp;1
of Amendment No.&nbsp;4 to Schedule&nbsp;13D filed on July&nbsp;5, 2007 by
Ontario Teachers&#146; Pension Plan Board)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.3*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment dated July&nbsp;12, 2007 to Definitive Agreement dated June
29, 2007, by and between 6796508 Canada Inc. and BCE Inc.
(incorporated by reference to Exhibit&nbsp;1 of the Report on Form&nbsp;6-K
filed on July&nbsp;13, 2007 by BCE Inc.)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Final Amending Agreement, dated
July 4, 2008, by and between BCE Acquisition Inc. (f/k/a 6796508
Canada Inc.) and BCE Inc.</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">*</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed with the Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission on October 30, 2008.</TD>
</TR>

</TABLE>







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




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>2
<FILENAME>y62718exv99w4.htm
<DESCRIPTION>EX-99.4: FINAL AMENDING AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right"><font size="2">Exhibit&nbsp;99.4</font></DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THIS AGREEMENT </B>(the &#147;<B>Final Amending Agreement</B>&#148;), which amends the Definitive Agreement (as
defined below), is made as of July&nbsp;4, 2008 between BCE Acquisition Inc. (f/k/a 6796508 Canada
Inc.), a corporation incorporated under the laws of Canada, (the &#147;<B>Purchaser</B>&#148;) and BCE Inc., a
corporation existing under the laws of Canada (&#147;<B>BCE</B>&#148; or the &#147;<B>Company</B>&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RECITALS</B>
</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">A.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Purchaser and the Company entered into a definitive agreement, which was made as of June
29, 2007 and amended as of July&nbsp;12, 2007 (as amended to date, the &#147;<B>Definitive Agreement</B>&#148;).</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.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pursuant to Section&nbsp;10.2 of the Definitive Agreement, the Definitive Agreement may be amended
by mutual written agreement of the Parties.</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">C.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In furtherance of the transactions contemplated by the Definitive Agreement, and as
contemplated by the Definitive Agreement, including the definition of &#147;Outside Date&#148; included
therein, the Purchaser and the Company wish to extend the Outside Date and make certain other
amendments to the Definitive Agreement in accordance with the terms and conditions of this
Final Amending Agreement.</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">D.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The boards of directors of the Company and Bell Canada have determined that it is in the best
interests of the Company and Bell Canada, respectively, subject to the terms of this Final
Amending Agreement, to adopt, and have adopted, the 2008 Operating Plan (as defined in Section
2.1(h) below) and have appointed George Cope as the Chief Executive Officer of BCE and Bell
Canada, respectively, effective July&nbsp;11, 2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW THEREFORE</B>, in consideration of the covenants and agreements herein contained, the Parties
agree as follows:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 1<BR>
INTERPRETATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;1.1 Definitions</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized terms used but not otherwise defined in this Final Amending Agreement shall have
the meanings attributed to them in the Definitive Agreement. For greater certainty, each reference
in the Definitive Agreement to &#147;hereof&#148;, &#147;hereunder&#148;, &#147;hereby&#148;, &#147;this Agreement&#148; and similar
expressions shall, unless the context otherwise requires, from and after the date of this Final
Amending Agreement, refer to the Definitive Agreement, as amended by this Final Amending Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;1.2 Interpretation Not Affected by Headings</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The division of this Final Amending Agreement into Articles and Sections and the insertion of
headings are for convenience of reference only and do not affect the construction or interpretation
of this Final Amending Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;1.3 Interpretation</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this Final Amending Agreement words importing the singular number include the plural and
vice versa, and words importing any gender include all genders. Whenever the words &#147;include&#148;,
</DIV>
</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;- 2 -&nbsp;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;includes&#148; or &#147;including&#148; are used in this Final Amending Agreement, they shall be deemed to
be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those
words or words of like import.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;1.4 Date for Any Action</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the date on which any action is required to be taken hereunder by a Party is not a Business
Day, such action shall be required to be taken on the next succeeding day which is a Business Day.
In this Final Amending Agreement, references from or through any date mean, unless otherwise
specified, from and including that date and/or through and including that date, respectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;1.5 Entire Agreement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Final Amending Agreement and the Definitive Agreement and the agreements and other
documents herein and therein referred to, and the Confidentiality Agreements (excluding, for
greater certainty, any Rule&nbsp;408 letters or agreements), constitute the entire agreement between the
Parties pertaining hereto and supersede all other prior agreements, understandings, negotiations
and discussions, whether oral or written, between the Parties hereto, including for greater
certainty the acknowledgment and consent letter dated September&nbsp;11, 2007 between the Company and
the Purchaser. Except as expressly amended hereby, the Definitive Agreement (including all
schedules and exhibits thereto) is and shall remain in full force and effect, and this Final
Amending Agreement shall operate as an amendment of the Definitive Agreement only to the extent set
forth herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;1.6 Amended Guarantee</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Parties acknowledge that in order to induce the Company to enter into this Final Amending
Agreement, the Equity Sponsors have, contemporaneously with the execution and delivery of this
Final Amending Agreement, executed and delivered to the Company an amendment to their previously
delivered guarantee of certain of the obligations of the Purchaser under the Definitive Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;1.7 Statutory References, References to Persons and References to Contracts</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this Final Amending Agreement, unless something in the subject matter or context is
inconsistent therewith or unless otherwise herein provided, a reference to any statute, regulation,
direction or instrument is to that statute, regulation, direction or instrument as now enacted or
as the same may from time to time be amended, re-enacted or replaced, and in the case of a
reference to a statute, includes any regulations, rules, policies or directions made thereunder.
Any reference in this Final Amending Agreement to a Person includes its heirs, administrators,
executors, legal personal representatives, predecessors, successors and permitted assigns.
References to any contract are to that agreement or contract as amended, modified or supplemented
from time to time in accordance with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;1.8 Currency</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise stated, all references in this Final Amending Agreement to sums of money are
expressed in lawful money of Canada and &#147;$&#148; refers to Canadian dollars.
</DIV>
</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 3 -<!-- /Folio -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 2<BR>
AMENDMENTS TO THE DEFINITIVE AGREEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.1 Definitions</B>
</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The defined term &#147;<B>Final Order</B>&#148; in <U>Section&nbsp;1.1</U> of the Definitive
Agreement is hereby deleted in its entirety and replaced with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Final Order</B>&#148; means the final order of the Court dated March&nbsp;7, 2008 approving the
Arrangement, provided such order is not under appeal and any rights of appeal in
respect of such order have expired;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The defined term &#147;<B>Lenders</B>&#148; in <U>Section&nbsp;1.1</U> of the Definitive Agreement
is hereby deleted in its entirety and replaced with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Lenders</B>&#148; means Deutsche Bank AG, Canada Branch, Citibank, N.A., The Royal Bank of
Scotland plc and The Toronto-Dominion Bank and/or their respective affiliates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The defined term &#147;Material Adverse Effect&#148; in <U>Section&nbsp;1.1</U> of the
Definitive Agreement is hereby deleted in its entirety and replaced with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Material Adverse Effect</B>&#148; means an effect that, individually or in the aggregate
with other such effects, is or would reasonably be expected to be material and
adverse to the financial condition, business or the results of operations of the
Company and its Subsidiaries, taken as a whole, (treating for purposes of this
definition the Bell Aliant Entities as Subsidiaries of the Company), except any such
effect resulting from or arising in connection with: (a)&nbsp;any change in GAAP; (b)&nbsp;any
adoption, proposal, implementation or change in Applicable Law or any interpretation
thereof by any Governmental Authority; (c)&nbsp;any change in global, national or
regional political conditions (including the outbreak of war or acts of terrorism)
or in general economic, business, regulatory, political or market conditions or in
national or global financial or capital markets; (d)&nbsp;any change affecting any of the
industries in which the Company or any of its Subsidiaries operate; (e)&nbsp;any natural
disaster; (f)&nbsp;the execution, announcement or performance of the Agreement or
consummation of the transactions contemplated hereby, including any loss or
threatened loss of, or adverse change or threatened adverse change in, the
relationship of the Company or any of its Subsidiaries with any of their employees,
financing sources, bondholders or shareholders; (g)&nbsp;any change in the market price
or trading volume of any securities of the Company (it being understood that the
causes underlying such change in market price may be taken into account in
determining whether a Material Adverse Effect has occurred), or any suspension of
trading in securities generally on any securities exchange on which any securities
of the Company trade; (h)&nbsp;the Company ceasing to be a &#147;qualified corporation&#148; for
purposes of the Telecommunications Regulations, or ceasing to be a &#147;Canadian&#148; for
purposes of the Radiocommunication Regulations, or ceasing to be a &#147;Canadian&#148; for
purposes of the Direction or ceasing to be in compliance with the Direction; (i)&nbsp;the
failure of the Company in and of itself to meet any internal or public projections,
forecasts or estimates of revenues or earnings (it being understood that the causes
underlying such failure may be taken into account in determining whether a Material
Adverse Effect has occurred); (j) <B>&#091;intentionally omitted&#093;</B>; (k)&nbsp;any actions taken (or
omitted to be taken) upon the request of the Purchaser; (l)&nbsp;any action taken by the
Company or any of its Subsidiaries which is required pursuant to the Agreement; or
(m)&nbsp;the implementation of the 2008 Operating Plan; provided, however, that with
respect to clauses (c), (d)&nbsp;and (e), such matter does not have a materially
disproportionate effect on</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 4 -<!-- /Folio -->

<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: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company and its Subsidiaries, taken as a whole, relative to other comparable
companies and entities operating in the industries in which the Company and/or its
Subsidiaries operate, and unless expressly provided in any particular section of
this Agreement, references in certain sections of this Agreement to dollar amounts
are not intended to be, and shall not be deemed to be, illustrative or interpretive
for purposes of determining whether a &#147;<B>Material Adverse Effect</B>&#148; has occurred;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The defined term &#147;<B>Outside Date</B>&#148; in <U>Section&nbsp;1.1</U> of the Definitive
Agreement is hereby deleted in its entirety and replaced with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Outside Date</B>&#148; means December&nbsp;11, 2008;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The defined term &#147;<B>Permitted Dividend</B>&#148; in <U>Section&nbsp;1.1</U> of the Definitive
Agreement is hereby deleted in its entirety and replaced with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Permitted Dividend</B>&#148; means, in respect of any Preferred Share, a dividend in an
amount and with a payment frequency as provided for or contemplated by the terms of
such Preferred Share, including as such dividend rate may be reset by the Company
from time to time as required by the terms of such Preferred Share, in each case
with customary record and payment dates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For purposes of <U>Section&nbsp;5.1</U> of the Definitive Agreement, the term
&#147;<B>Company Disclosure Letter</B>&#148; means the Company Disclosure Letter or the Supplemental
Company Disclosure Letter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The defined terms &#147;<B>Commitment Letter</B>&#148;, &#147;<B>Marketing Period</B>&#148;, &#147;<B>Required
Information</B>&#148;, and &#147;<B>Required Information Schedule</B>&#148; are deleted from <U>Section&nbsp;1.1</U>
of the Definitive Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following new definitions are added to <U>Section&nbsp;1.1</U> of the
Definitive Agreement in the correct alphabetical order:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>2008 Operating Plan</B>&#148; means the operating plan dated July&nbsp;4, 2008 that the boards of
directors of the Company and Bell Canada have adopted, a copy of which has been
delivered to the Purchaser by the Company&#146;s letter dated the date hereof, with such
changes or modifications thereto from time to time only as the Board may, in the
exercise of its fiduciary duties upon the advice of counsel, determine are necessary
or in the best interests of the Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Final Amending Agreement</B>&#148; means the final amending agreement made as of July&nbsp;4,
2008 between the Purchaser and the Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Purchaser Financing Documents</B>&#148; means (i)&nbsp;that certain executed Credit Agreement,
dated as of July&nbsp;4, 2008, by and among the Purchaser and the Lenders; (ii)&nbsp;that
certain executed Purchase Agreement and related description of notes, dated July&nbsp;4,
2008, by and among the Purchaser, Citigroup Global Markets Inc., Deutsche Bank
Securities Inc., Greenwich Capital Markets, Inc. and TD Securities (USA)&nbsp;LLC; (iii)
executed copies of all related hedging agreements entered into by the Purchaser,
which consist of (A)&nbsp;those certain ISDA Master Agreements (Multicurrency-Cross
Border), Schedules thereto and Confirmations evidencing hedging obligations, each
dated as of July&nbsp;4, 2008, and (B)&nbsp;that certain Hedge Commitment Letter dated as of
July&nbsp;4, 2008, and an Addendum to the Hedge Commitment Letter dated as of July&nbsp;4,
2008, by and among the Purchaser,</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 5 -<!-- /Folio -->

<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: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Citibank, N.A., Deutsche Bank AG New York Branch and The Royal Bank of Scotland
plc.; and (iv)&nbsp;any other instruments, agreements or documents contemplated by each
of the aforementioned agreements, including, without limitation, guarantees,
security agreements, pledge agreements, mortgages and any other related agreements
and all agreements or instruments constituting exhibits to any of the aforementioned
agreements; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Supplemental Company Disclosure Letter</B>&#148; means the disclosure letter dated July&nbsp;4,
2008 regarding the Agreement that has been delivered by the Company to the
Purchaser;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.2 Articles of Arrangement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;2.8</U> of the Definitive Agreement shall be deleted and replaced in its entirety
with the following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Section&nbsp;2.8 Articles of Arrangement and Effective Date</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Articles of Arrangement shall implement the Plan of Arrangement.
The Articles of Arrangement shall include the Plan of Arrangement. On the
earlier of (i)&nbsp;December&nbsp;11, 2008, or (ii)&nbsp;the Business Day designated by the
Purchaser by notice in writing (the &#147;<B>Closing Notice</B>&#148;) (which shall be not
less than five Business Days after the Closing Notice) on which the
conditions (excluding conditions that, by their terms, cannot be satisfied
until the Effective Date) set forth in Article&nbsp;8 have been satisfied (or,
where not prohibited, waived by the applicable Party or Parties in whose
favour the condition is), unless the Company has advised the Purchaser
within one Business Day after receipt of the Closing Notice that the Company
believes such conditions may not be so satisfied or waived and has provided
particulars thereof, the Articles of Arrangement shall be filed by the
Company with the Director. From and after the Effective Time, the Plan of
Arrangement will have all of the effects provided by Applicable Law,
including the CBCA. The closing of the transactions contemplated hereby
will take place at the offices of Stikeman Elliott LLP, 1155 Ren&#233;-L&#233;vesque
Blvd. West, 40th Floor, Montr&#233;al, Qu&#233;bec, or at such other location as may
be agreed upon by the Parties.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.3 Representations and Warranties of the Company</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in (i)&nbsp;the Company Filings filed before the date of the Definitive
Agreement or (ii)&nbsp;the Company Disclosure Letter, the Company represents and warrants to the
Purchaser as follows:
</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Authority Relative to Final Amending Agreement</B>. The execution, delivery and
performance by the Company of this Final Amending Agreement and the consummation by the
Company of the transactions contemplated hereby are within the Company&#146;s corporate
powers and have been duly authorized by the Board and no other corporate proceedings on
the part of the Company or its shareholders are necessary to authorize this Final
Amending Agreement or the transactions contemplated hereby. This Final Amending
Agreement constitutes a valid and binding agreement of the Company, enforceable against
the Company in accordance with its terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Governmental Authorization</B>. Subject to the filings contemplated by <U>Section
7.1.1</U> of the Definitive Agreement, as amended pursuant to this Final Amending
Agreement, the filing of the Articles of Arrangement in accordance with <U>Section
2.8</U> of the Definitive</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 6 -<!-- /Folio -->

<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: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement, and other than for filings that have already been made, the execution,
delivery and performance by the Company of this Final Amending Agreement and the
consummation by the Company of the transactions contemplated hereby require no
action by or in respect of, or filing with, any Governmental Authority, other than
compliance with any applicable Securities Laws, stock exchange rules and policies
and any actions or filings the absence of which would not be reasonably expected to
have, individually or in the aggregate, a Material Adverse Effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Non-Contravention</B>. The execution, delivery and performance by the Company of
its obligations under this Final Amending Agreement and the consummation of the
transactions contemplated by the Plan of Arrangement will not (i)&nbsp;contravene, conflict
with, or result in any violation or breach of any provision of the articles of
incorporation or by-laws of the Company, (ii)&nbsp;assuming compliance with the matters, or
obtaining the approvals, referred to in paragraph (b)&nbsp;above, contravene, conflict with
or result in a violation or breach of any provision of any Applicable Law, (iii)
require any consent or other action by any Person under, constitute a default, or an
event that, with or without notice or lapse of time or both, would constitute a
default, under, or cause or permit the termination, cancellation, acceleration or other
change of any right or obligation or the loss of any benefit to which the Company or
any of its Subsidiaries is entitled under any provision of any agreement or other
instrument binding upon the Company or any of its Subsidiaries or (iv)&nbsp;result in the
creation or imposition of any Lien on any asset of the Company or any of its
Subsidiaries, with such exceptions, in the case of each of clauses (ii)&nbsp;through (iv),
as would not be reasonably expected to have, individually or in the aggregate, a
Material Adverse Effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>No Breach of Covenants and Representations</B>. To the knowledge of the Company,
as of the date of this Final Amending Agreement, there is no fact, event or
circumstance that constitutes, or could reasonably be expected to result in, a breach
of any of the covenants and/or representations and warranties of the Purchaser Parties
in the Definitive Agreement, and the conditions to closing set out in <U>Section
8.1</U> and <U>Section&nbsp;8.3</U> of the Definitive Agreement (other than conditions that
are satisfied by their nature at the Effective Time and other than the deposit by the
Purchaser pursuant to <U>Section&nbsp;2.9</U> of the Definitive Agreement, prior to the
filing by the Company of the Articles of Arrangement with the Director, of sufficient
funds in escrow to complete all of the transactions contemplated by the Plan of
Arrangement) have been satisfied.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Representations</B>.</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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As of the date hereof, the representations and warranties
of the Company set forth in the Definitive Agreement are true and correct in
all respects, without regard to any materiality or Material Adverse Effect
qualifications contained in them, as though made on and as of the date
hereof (except for representations and warranties made as of a specified
date, which were true and correct as of such specified date), except where
the failure or failures of all such representations and warranties to be so
true and correct in all respects would not reasonably be expected to have a
Material Adverse Effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As of the date hereof, the representations and warranties
of the Company set out in paragraphs (b), (e)&nbsp;and j(ii) and (aa)&nbsp;of Schedule
E of the Definitive Agreement are true and correct in all material respects
as though made on and as of the date hereof (except for representations and
warranties made as of a specified date, which were true and correct in all
material respects as of such</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 7 -<!-- /Folio -->

<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: #textcolor#; background: #bgcolor#">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>specified date), other than where such variations result from actions
expressly permitted by <U>Section&nbsp;5.1</U> of the Definitive Agreement,
without having given effect to this Final Amending Agreement.</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Opinion of Financial Advisors</B>. As of the date hereof, the Board has received
opinions of certain of its Financial Advisors to the effect that, as of the date hereof
and based upon and subject to the limitations, qualifications and assumptions set forth
therein, the Consideration to be paid pursuant to the Arrangement is fair to the Common
Shareholders from a financial point of view.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties of the Company contained in this Final Amending Agreement
shall not survive the completion of the Arrangement and shall expire and be terminated on the
earlier of the Effective Time and the date on which the Definitive Agreement, as amended by this
Final Amending Agreement, is terminated in accordance with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.4 Amendment to the Representations and Warranties of the Purchaser</B>
</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section (f)</U> of Schedule&nbsp;F of the Definitive Agreement is amended by (i)
deleting the use of the term &#147;Commitment Letter&#148; and replacing it with the term
&#147;Purchaser Financing Documents&#148; and (ii)&nbsp;by deleting the text in the first sentence
starting with &#147;Prior to&#148; and ending with &#147;(the &#147;<B>Equity Commitment Letters</B>&#148;) dated June
29, 2007&#148; and replacing it with the following text: &#147;Prior to the execution and
delivery of the Final Amending Agreement, the Purchaser has delivered to the Company
true and complete copies of the following agreements or commitment letters: (i)&nbsp;the
Purchaser Financing Documents (other than those documents referred to in subsection
(iv)&nbsp;of the definition of Purchaser Financing Documents, which shall be delivered by
the Purchaser to the Company prior to the Effective Date), and (ii)&nbsp;equity commitments
pursuant to executed equity commitment letters, dated June&nbsp;29, 2007, as amended on July
4, 2008 (the &#147;<B>Equity Commitment Letters</B>&#148;),&#148;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section (k) </U>of Schedule&nbsp;F of the Definitive Agreement is hereby amended
and restated in its entirety as follows:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;(k) <B>Guarantee</B>. Concurrently with the execution of the Final Amending
Agreement, the Purchaser has caused each of the Equity Sponsors to execute
and deliver to the Company a letter agreement between the Equity Sponsors
and the Company dated July&nbsp;4, 2008, which letter agreement amends the
guarantee, dated June&nbsp;29, 2007, by the Equity Sponsors of the obligations of
the Purchaser under this Agreement (such guarantee, as amended by such
letter agreement, the &#147;<B>Guarantee</B>&#148;), and, as of the date of the Final
Amending Agreement, the Guarantee is in full force and effect and, subject
to the express qualifications in the Guarantee, is a valid, binding and
enforceable obligation of each Equity Sponsor, and no event has occurred
which, with or without notice, lapse of time or both, would constitute a
default on the part of any Equity Sponsor under such Guarantee.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section (l)</U> of Schedule&nbsp;F of the Definitive Agreement is hereby amended
and restated in its entirety as follows:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;(l) <B>Finders&#146; Fees</B>. Except for Citi Global Investment Banking, Deutsche
Bank AG, TD Securities Inc. and Morgan Stanley &#038; Co. Incorporated, whose
fees will be paid by the Purchaser and/or the Purchaser Parties, there is no</TD>
</TR>

</TABLE>
</DIV></DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 8 -<!-- /Folio -->

<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: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>investment banker, broker, finder or other intermediary that has been
retained by or is authorized to act on behalf of the Purchaser or any of the
Purchaser Parties who might be entitled to any fee or commission from the
Company or any of its affiliates upon consummation of the transactions
contemplated by this Agreement.&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.5 Representations and Warranties of the Purchaser</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Purchaser represents and warrants to the Company as follows:
</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Authority Relative to Final Amending Agreement</B>. The execution, delivery and
performance by the Purchaser of this Final Amending Agreement and the consummation by
the Purchaser of the transactions contemplated hereby are within the corporate powers
of the Purchaser and have been duly authorized, and no other corporate proceedings on
the part of the Purchaser are necessary to authorize this Final Amending Agreement or
the transactions contemplated hereby. This Final Amending Agreement constitutes a valid
and binding agreement of the Purchaser enforceable against the Purchaser in accordance
with its terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Governmental Authorization</B>. Subject to the filings contemplated by <U>Section
7.1.1</U> of the Definitive Agreement, as amended pursuant to this Final Amending
Agreement, the filing of the Articles of Arrangement in accordance with <U>Section
2.8</U> of the Definitive Agreement, and other than for filings that have already been
made, the execution, delivery and performance by the Purchaser of this Final Amending
Agreement and the consummation by the Purchaser of the transactions contemplated hereby
require no action by or in respect of, or filing with, any Governmental Authority,
other than compliance with any applicable Securities Laws and any actions or filings
the absence of which would not reasonably be expected to materially or adversely impair
the ability of the Purchaser to complete the transactions contemplated by the
Definitive Agreement, as amended by this Final Amending Agreement, on or prior to the
Outside Date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Non-Contravention</B>. The execution, delivery and performance by the Purchaser of
this Final Amending Agreement and the consummation of the transactions contemplated by
the Definitive Agreement do not and will not (i)&nbsp;contravene, conflict with, or result
in any violation or breach of any provision of the articles of incorporation or bylaws
of the Purchaser, (ii)&nbsp;assuming compliance with the matters referred to in paragraph
(b)&nbsp;above, contravene, conflict with or result in a violation or breach of any
provision of any Applicable Law, (iii)&nbsp;require any consent or other action by any
Person under, constitute a default, or an event that, with or without notice or lapse
of time or both, would constitute a default, under, or cause or permit the termination,
cancellation, acceleration or other change of any right or obligation or the loss of
any benefit to which the Purchaser is entitled under any provision of any material
contract to which the Purchaser is a party or by which it or any of its properties or
assets may be bound; or (iv)&nbsp;result in the creation or imposition of any Lien on any
material asset of the Purchaser, with such exceptions, in the case of (ii)&nbsp;through
(iv), as would not be reasonably expected to materially impede or delay the ability of
the Purchaser to consummate the transactions contemplated by the Definitive Agreement,
as amended by this Final Amending Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>No Breach of Covenants and Representations</B>. To the knowledge of the Purchaser,
as of the date of this Final Amending Agreement, there is no fact, event or
circumstance that constitutes, or could reasonably be expected to result in, a breach
of any of the covenants</TD>
</TR>

</TABLE>
</DIV></DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 9 -<!-- /Folio -->

<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: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and/or representations and warranties of the Company in the Definitive Agreement,
and the conditions to closing set out in <U>Section&nbsp;8.1</U> and <U>Section&nbsp;8.2</U>
of the Definitive Agreement (other than conditions that are satisfied by their
nature at the Effective Time) have been satisfied.</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Representations</B>. As of the date hereof, the representations and warranties of
the Purchaser set forth in the Definitive Agreement, as amended pursuant to this Final
Amending Agreement, are true and correct in all material respects as though made on and
as of the date hereof (except for representations and warranties made as of a specified
date, which were true and correct as of such specified date, and except in each case,
for those representations and warranties that are subject to a materiality
qualification, which are true and correct in all respects).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties of the Purchaser contained in this Final Amending Agreement
shall not survive the completion of the Arrangement and shall expire and be terminated on the
earlier of the Effective Time and the date on which the Definitive Agreement, as amended by this
Final Amending Agreement, is terminated in accordance with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.6 Conduct of Business</B>
</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The first and second sentences of the preamble to <U>Section&nbsp;5.1</U> of the
Definitive Agreement are amended by adding the text &#147;, as modified by the 2008
Operating Plan,&#148; following the text &#147;(ii) the Company&#146;s 2008 business plans which are
approved by the Board, acting in good faith and following reasonable consultation with
the Purchaser that are consistent in all material respects with the 2008 forecasts
provided to the Purchaser Parties at the management presentation held on June&nbsp;7, 2007
and the related documents provided in the Data Room&#148;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding <U>Section&nbsp;5.1(d)(ii)</U> of the Definitive Agreement, the
Company agrees that from and after the date hereof, it will not issue any Options.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For greater certainty, the Purchaser confirms that it has consented to the
adoption and implementation of the 2008 Operating Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following section is added to the Definitive Agreement as <U>Section
5.1.1</U>:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Section&nbsp;5.1.1 2008 Operating Plan</B></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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Chief Executive Officer shall, in accordance with the Chief
Executive Officer Position Description of the Company, remain directly
accountable to the Board for all activities of the Company (and, as Chief
Executive Officer of Bell Canada, to the board of Bell Canada for all
activities of Bell Canada), in the context of the boards&#146; responsibility for
the supervision of the management of the business and affairs of the Company
and Bell Canada, except for such matters (other than the implementation of the
2008 Operating Plan as described below) with respect to which the Board or the
board of Bell Canada, in light of its fiduciary duties (and upon advice of
counsel), may determine is in the best interests of the Company or Bell Canada,
respectively, to delegate authority to other officers. If the Board or the
board of directors of Bell Canada, respectively, determines in good faith that
it is no longer in the best interests of the Company or Bell Canada that George
Cope continue to serve as the Chief Executive Officer of that corporation (or
to revoke the appointment of George Cope as</TD>
</TR>

</TABLE>
</DIV></DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 10 -<!-- /Folio -->

<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: #textcolor#; background: #bgcolor#">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Chief Executive Officer prior to the effective date of such appointment),
then prior to effecting any such revocation or dismissal (or constructive
dismissal, it being agreed that no constructive dismissal shall have
occurred for the purposes of this Agreement until the Board has been
notified in writing of an allegation of constructive dismissal and the
specific details thereof and such situation is not remedied promptly, and in
any event within 15&nbsp;days thereafter) it will consult with the Purchaser in
good faith concerning the basis for such termination (or revocation of
appointment) and the proposed successor (or acting successor) Chief
Executive Officer and, other than in the case of a termination for Cause, as
such term is defined in the Supplemental Company Disclosure Letter, obtain
the consent of the Purchaser for such termination (or revocation of
appointment) and successor, which consent will not be unreasonably withheld
or delayed. In the event a successor Chief Executive Officer is appointed,
the foregoing provisions of this Section&nbsp;5.1.1(1) will apply <I>mutatis
mutandis</I>.</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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company has adopted the 2008 Operating Plan and delegated
to George Cope in his capacity as Chief Executive Officer the authority to
implement the operational elements of 2008 Operating Plan under the supervision
and direction of the Board. The Company makes no assurances that the projected
cost savings or other results contemplated by the 2008 Operating Plan will be
obtained on a timely basis or at all. The Company may change or modify the 2008
Operating Plan from time to time as contemplated by the definition thereof,
provided that the Company agrees that it will not make any changes or
modifications to the 2008 Operating Plan that would reasonably be expected,
individually or in the aggregate, to be material to the Purchaser without first
providing the Purchaser a reasonable opportunity for consultation.&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.7 Confirmation of Assistance with Purchaser Financing</B>
</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section&nbsp;5.3</U> of the Definitive Agreement is amended by deleting the use
of the term &#147;Commitment Letter&#148; and replacing it with the term &#147;Purchaser Financing
Documents&#148; and by deleting in the first sentence the text preceding &#147;(a)&#148; and replacing
it with the following text:</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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;From the date of the Final Amending Agreement until
the Effective Time, the Company shall, and shall cause its Subsidiaries
to, and each shall use reasonable best efforts to cause its
Representatives to, provide such co-operation to the Purchaser as the
Purchaser may reasonably request in connection with the arrangements by
the Purchaser to obtain the advance of the debt financing referred to
in the Purchaser Financing Documents and/or any alternative financing
proposed by the Purchaser pursuant to Section&nbsp;6.4, (provided that such
request is made on reasonable notice and reasonably in advance of the
proposed marketing of the financing and/or December&nbsp;11, 2008, as
applicable, and provided such co-operation does not unreasonably
interfere with the ongoing operations of the Company and its
Subsidiaries or interfere with or hinder or delay the performance by
the Company or its Subsidiaries of their other obligations), including
(and subject to the foregoing) as so requested:&#148;</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section&nbsp;5.3(k)</U> of the Definitive Agreement is deleted in its entirety
and replaced with the following text:</TD>
</TR>

</TABLE>
</DIV></DIV>
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<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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;(k) furnishing the Purchaser and its financing sources as promptly as
practicable following any request by the Purchaser with updated financial
and other pertinent information regarding the Company and its Subsidiaries
as may be reasonably requested by the Purchaser, including Canadian GAAP
interim unaudited financial statements with a reconciliation to US GAAP and
related updated pro forma financial statements, consistent with the type and
form of such information included in the Preliminary Offering Memorandum
(draft dated June&nbsp;20, 2008), with the timing of the provision of updated
interim financial statements being consistent with the Company&#146;s regular
quarterly reporting, and at the Purchaser&#146;s request using commercially
reasonable efforts to assist the Purchaser in keeping the Preliminary
Offering Memorandum (draft dated June&nbsp;20, 2008) as current as reasonably
practicable on an ongoing basis;&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.8 Conduct of the Company</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;5.6</U> of the Definitive Agreement is deleted in its entirety and replaced with
the following text:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Section&nbsp;5.6 Conduct of the Company</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the period commencing on the date of the Final Amending Agreement
and ending on the Effective Time, and except as expressly required by
Applicable Law, the Company shall not, and shall not permit its Subsidiaries
to enter into any merger, acquisition, joint venture, disposition, lease,
contract, or debt or equity financing or other transaction, or agree to do
any of the foregoing, that would reasonably be likely to delay, impair or
impede in any material respect the satisfaction of any condition set forth
in Article&nbsp;8 hereof or the applicable conditions to the availability of
funds on the Effective Date under the terms of the Purchaser Financing
Documents in effect and delivered to the Company on the date of the Final
Amending Agreement.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.9 Cooperation with Solvency Opinion</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;5.8</U> of the Definitive Agreement is amended by deleting the use of the term
&#147;Commitment Letter&#148; and replacing it with the term &#147;Purchaser Financing Documents.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.10 Conduct of the Purchaser</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;6.1</U> of the Definitive Agreement is deleted in its entirety and replaced with
the following text:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Section&nbsp;6.1 Conduct of the Purchaser</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the period commencing on the date of the Final Amending Agreement and
ending on the Effective Time, and except as expressly required by Applicable
Law, no Purchaser Party shall enter into any merger, acquisition, joint
venture, disposition, lease, contract, or debt or equity financing or other
transaction, or agree to do any of the foregoing, that would reasonably be
likely to delay, impair or impede in any material respect the satisfaction
of any condition set forth in Article&nbsp;8 hereof or the applicable conditions
to the availability of funds on the Effective Date under the terms of the
Purchaser Financing Documents.&#148;
</DIV>
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 12 -<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.11 Purchaser Financing</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;6.4</U> of the Definitive Agreement is amended by deleting the use of the term
&#147;Commitment Letter&#148; and replacing it with the term &#147;Purchaser Financing Documents.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.12 Additional Covenants of the Purchaser Parties</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following section is added to the Definitive Agreement as Section&nbsp;6.7:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Section&nbsp;6.7 Enforcement of Rights under the Purchaser Financing Documents</B>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If requested by the Company, the Purchaser shall use its reasonable
best efforts to enforce its rights under the Purchaser Financing Documents,
including, but not limited to, bringing an action for declaratory relief or
specific performance.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.13 Confirmation of Cooperation Regarding the Arrangement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following section is added to the Definitive Agreement as Section&nbsp;7.1.1:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Section&nbsp;7.1.1 Maintenance of Key Regulatory Approvals</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without limiting the generality of <U>Section&nbsp;7.1</U>, the Purchaser
Parties and the Company shall use their reasonable best efforts to take, or
cause to be taken, all actions and to do, or cause to be done, all things
necessary, proper or advisable under Applicable Law to maintain the
continued effectiveness of the Key Regulatory Approvals, including by: (a)
applying as promptly as practicable, and in any event within one Business
Day of the date of the Final Amending Agreement, pursuant to Section&nbsp;119 of
the Competition Act to extend the effectiveness of the Competition Act
Compliance through to and including December&nbsp;31, 2008 (the &#147;<B>Section&nbsp;119
Application</B>&#148;), (b)&nbsp;unless the requested extension pursuant to Section&nbsp;119 of
the Competition Act has been granted prior to such date, preparing and
filing by no later than July&nbsp;11, 2008, a short-form pre-merger notification
pursuant to Part&nbsp;IX of the Competition Act, and (c)&nbsp;preparing and filing as
soon as reasonably practicable, but in any event by no later than July&nbsp;18,
2008, an appropriate filing of a Notification and Report Form pursuant to
the HSR Act. Without limiting the generality of the foregoing, the Purchaser
Parties shall, and shall cause their Subsidiaries and affiliates to, take
any and all steps necessary to extend the effectiveness of the Competition
Act Compliance pursuant to Section&nbsp;119 of the Competition Act and to ensure
that, if applicable, following the filing of the short-form pre-merger
notification pursuant to Part&nbsp;IX of the Competition Act, the applicable
waiting period under Part&nbsp;IX of the Competition Act expires or is waived or
terminated without there being an order in place issued by the Competition
Tribunal established under the Competition Tribunal Act (Canada) which would
preclude completion of the transactions contemplated by the Agreement,
including in each case and without limitation, agreeing in respect of any of
the businesses, properties, assets, rights or interests of the Purchaser
Parties and their Subsidiaries and affiliates (including any businesses,
properties, assets, rights or interests acquired or to be acquired by the
Purchaser contemplated hereby): (a)&nbsp;to any and all divestitures, licensing,
hold separate or similar arrangements with respect to assets or conduct of
business
</DIV>
</DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 13 -<!-- /Folio -->


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">arrangements; (b)&nbsp;to terminate any and all existing relationships and
contractual rights and obligations; (c)&nbsp;to commit to, enter into, register
or effect any and all undertakings or consent agreements; and (d)&nbsp;to
satisfy, assent to and/or comply with the terms and conditions of any
licence or permit transfer or approval, in each such case without any
reduction of the Consideration, provided that none of the foregoing shall
require the Purchaser Parties to accede to any request to modify the amount
of equity invested or the percentage of equity ownership in the Purchaser on
the part of any of the Equity Sponsors. The Purchaser Parties shall pay all
filing fees, if any, required in connection with any Section&nbsp;119 Application
or the filing of the short-form pre-merger notifications pursuant to Part&nbsp;IX
of the Competition Act and all filing fees required in connection with the
filing of a Notification and Report Form pursuant to the HSR Act.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.14 Conditions Precedent</B>
</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section&nbsp;8.1(f)</U> of the Definitive Agreement shall be deleted and
replaced in its entirety with the following:</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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#147;(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Purchaser and the Company shall have received an
opinion at the Effective Time from KPMG LLP, or another nationally
recognized valuation firm engaged by the Purchaser and agreed to by the
Company, acting reasonably, in substantially the form delivered to the
Company by the Purchaser on the date of the Final Amending Agreement.&#148;</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section&nbsp;8.2(a)</U> of the Definitive Agreement shall be deleted and
replaced in its entirety with the following:</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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#147;(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(i)&nbsp;the Company shall not have declared, set aside or
paid any dividend or other distribution (whether in cash, stock or
property or any combination thereof), other than a Permitted Dividend,
(ii)&nbsp;the covenant of the Company in Section <U>5.1.1</U> shall have
been duly performed by the Company in all respects and (iii)&nbsp;all of the
other covenants of the Company under this Agreement and in the Final
Amending Agreement, to be performed on or before the Effective Time
shall have been duly performed by the Company in all material respects,
and the Purchaser shall have received a certificate of the Company
addressed to the Purchaser and dated the Effective Time, signed on
behalf of the Company by two senior executive officers of the Company
(on the Company&#146;s behalf and without personal liability), confirming
the same as at the Effective Date; and&#148;</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section&nbsp;8.2(b)</U> of the Definitive Agreement shall be deleted and
replaced in its entirety with the following:</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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#147;(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the representations and warranties of the Company set
forth in this Agreement and in the Final Amending Agreement shall be
true and correct in all respects, without regard to any materiality or
Material Adverse Effect qualifications contained in them as of the
Effective Time, as though made on and as of the Effective Time (except
for representations and warranties made as of a specified date, the
accuracy of which shall be determined as of that specified date),
except where the failure or failures of all such representations and
warranties to be so true</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 14 -<!-- /Folio -->

<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: #textcolor#; background: #bgcolor#">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and correct in all respects would not reasonably be expected to have
a Material Adverse Effect, provided that the representations and
warranties of the Company set out in paragraphs (b), (e)&nbsp;and j(ii)
and (aa)&nbsp;of Schedule&nbsp;E and <U>Section&nbsp;2.3(a)</U> of the Final
Amending Agreement shall be true and correct in all material
respects, other than where such variations result from actions
expressly permitted by <U>Section&nbsp;5.1</U>; and the Purchaser shall
have received a certificate of the Company addressed to the
Purchaser and dated the Effective Time, signed on behalf of the
Company by two senior executive officers of the Company (on the
Company&#146;s behalf and without personal liability), confirming the
same as at the Effective Date.&#148;</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Section&nbsp;8.3(b)</U> of the Definitive Agreement shall be deleted and
replaced in its entirety with the following:</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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#147;(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the representations and warranties of the Purchaser set
forth in this Agreement and in the Final Amending Agreement shall be
true and correct in all material respects as of the Effective Time as
though made on and as of the Effective Time (except for representations
and warranties made as of a specified date, the accuracy of which shall
be determined as of that specified date, and except in each case, for
those representations and warranties that are subject to a materiality
qualification, which must be true and correct in all respects), and the
Company shall have received a certificate of the Purchaser, addressed
to the Company and dated the Effective Time, signed on behalf of the
Purchaser by two senior executive officers of the Purchaser (on the
Purchaser&#146;s behalf and without personal liability), confirming the same
as at the Effective Date; and&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2.15 Expenses and Termination Fees</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subsection 10.6(6)</U> of the Definitive Agreement is amended by increasing the amount of
the Break-Up Fee from $1&nbsp;billion to $1.2&nbsp;billion.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 3<BR>
GENERAL PROVISIONS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3.1 Governing Law</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Final Amending Agreement shall be governed, including as to validity, interpretation and
effect, by the laws of the Province of Qu&#233;bec and the laws of Canada applicable therein, and shall
be construed and treated in all respects as a Qu&#233;bec contract. Each of the Parties hereby
irrevocably attorns to the exclusive jurisdiction of the Courts of the Province of Qu&#233;bec in
respect of all matters arising under and in relation to this Final Amending Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3.2 Binding Effect</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Final Amending Agreement shall be binding on and shall enure to the benefit of the
Parties and their respective successors and permitted assigns, provided that this Final Amending
Agreement may not be assigned or novated by any Party without the prior written consent of the
other.
</DIV>
</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 15 -<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3.3 Severability</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any term or other provision of this Final Amending Agreement is invalid, illegal or
incapable of being enforced by any Applicable Law or public policy, all other conditions and
provisions of this Final Amending Agreement shall nevertheless remain in full force and effect so
long as the economic or legal substance of the transactions contemplated hereby is not affected in
any manner materially adverse to any Party. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good
faith to modify this Final Amending Agreement so as to effect the original intent of the Parties as
closely as possible in an acceptable manner to the end that the transactions contemplated hereby
are fulfilled to the fullest extent possible
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3.4 No Third Party Beneficiaries</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in Section&nbsp;6.2 of the Definitive Agreement, which, without limiting their
terms, are intended as stipulations for the benefit of the third Persons mentioned therein, and
except for the rights of the Affected Shareholders to receive the Consideration following the
Effective Time pursuant to the Arrangement (for which purpose the Company hereby confirms that it
is acting as agent on behalf of the Affected Shareholders), neither the Definitive Agreement nor
the Final Amending Agreement is intended to confer any rights or remedies upon any Person other
than the Parties to the Definitive Agreement and the Final Amending Agreement. To the fullest
extent permitted by Applicable Law, each of the Purchaser and the Company agrees that the
stipulations for the benefit of third Persons set out in Section&nbsp;6.2 of the Definitive Agreement
shall not be revoked, and that acceptance by such third Persons of such stipulations shall be
deemed to have occurred, without prejudice to their right to accept in any other manner, through
the fulfilment of their respective duties and functions with the Company or its Subsidiaries until
the end of the Business Day following the execution of the Definitive Agreement, it being an
essential condition of the Definitive Agreement that the Persons intended to be beneficiaries of
such stipulations shall be entitled to all the rights and remedies available to them thereunder and
under Applicable Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3.5 Rules of Construction</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Parties to this Final Amending Agreement waive the application of any Applicable Law or
rule of construction providing that ambiguities in any agreement or other document shall be
construed against the party drafting such agreement or other document.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3.6 No Liability</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No director or officer of the Purchaser shall have any personal liability whatsoever to the
Company under this Final Amending Agreement or any other document delivered in connection with the
transactions contemplated hereby on behalf of the Purchaser. No director or officer of the Company
or any of its Subsidiaries shall have any personal liability whatsoever to the Purchaser under this
Final Amending Agreement or any other document delivered in connection with the transactions
contemplated hereby on behalf of the Company or any of its Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3.7 Language</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Parties expressly acknowledge that they have requested that this Final Amending Agreement
and all ancillary and related documents thereto be drafted in the English language only. Les
parties aux pr&#233;sentes reconnaissent avoir exig&#233; que la pr&#233;sente entente et tous les documents qui y
sont accessoires soient r&#233;dig&#233;s en anglais seulement.
</DIV>
</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 16 -<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3.8 Counterparts, Execution</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Final Amending Agreement may be executed in two or more counterparts, each of which shall
be deemed to be an original but all of which together shall constitute one and the same instrument.
The Parties shall be entitled to rely upon delivery of an executed facsimile or similar executed
electronic copy of this Final Amending Agreement, and such facsimile or similar executed electronic
copy shall be legally effective to create a valid and binding agreement between the Parties.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>&#091;Remainder of this page is intentionally blank&#093;</B>
</DIV>

</DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 17 -<!-- /Folio -->



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN WITNESS WHEREOF </B>the Purchaser and the Company have caused this Final Amending Agreement to
be executed as of the date first written above by their respective officers thereunto duly
authorized.
</DIV>

<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>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Per:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Martine Turcotte</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Signing Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>BCE ACQUISITION INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Per:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Mark J. Masiello</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Signing Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Per:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Dean Metcalf</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Signing Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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



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