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<SEC-DOCUMENT>0000950123-10-082971.txt : 20100901
<SEC-HEADER>0000950123-10-082971.hdr.sgml : 20100901
<ACCEPTANCE-DATETIME>20100901132420
ACCESSION NUMBER:		0000950123-10-082971
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100901
FILED AS OF DATE:		20100901
DATE AS OF CHANGE:		20100901

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BCE INC
		CENTRAL INDEX KEY:			0000718940
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08481
		FILM NUMBER:		101052017

	BUSINESS ADDRESS:	
		STREET 1:		1 CARREFOUR ALEXANDER-GRAHAM-BELL
		CITY:			VERDUN
		STATE:			A8
		ZIP:			H3E 3B3
		BUSINESS PHONE:		514-786-3891

	MAIL ADDRESS:	
		STREET 1:		1 CARREFOUR ALEXANDER-GRAHAM-BELL
		CITY:			VERDUN
		STATE:			A8
		ZIP:			H3E 3B3

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BELL CANADA ENTERPRISES INC
		DATE OF NAME CHANGE:	19880111
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>m64756e6vk.htm
<DESCRIPTION>6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




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

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

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


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

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the month of: September&nbsp;2010</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Commission File Number: 1-8481</B></DIV>

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

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


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B><I>1, carrefour Alexander-Graham-Bell, Building A , 8</I></B><SUP style="FONT-size: 85%; vertical-align: text-top"><B><I>th</SUP> Floor, Verdun, Qu&#233;bec, Canada H3E 3B3, (514)<BR>
870-8777</I></B><BR>
<I>(Address of principal executive offices)</I></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;20-F <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form 40-F <FONT style="font-family: Wingdings">&#254;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(1): <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(7): <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether by furnishing the information contained in this Form, the registrant
is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under the
Securities Exchange Act of 1934.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No <FONT style="font-family: Wingdings">&#254;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-2(b): 82-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>.
</DIV>

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


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











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

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








<DIV align="left"><A NAME="000"></A></DIV>

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


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

<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">Date:  September 1, 2010&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>(signed) Alain F. Dussault</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Alain F. Dussault&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Corporate Secretary&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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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="m64756m6475601.gif" alt="(BELL LOGO)">
</DIV>

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Bell disappointed with CRTC decision denying rural and remote<BR>
communities the latest wireless broadband network technology</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><I>CRTC&#146;s deferral account ruling forces telephone companies to deploy less-advanced DSL wired<BR>
technology rather than leading-edge HSPA&#043; wireless broadband</I>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MONTR&#201;AL, September&nbsp;1, 2010 &#151; The Canadian Radio-television and Telecommunications Commission
(CRTC)&nbsp;yesterday issued a very disappointing decision as to how funds accumulated in telecom
company &#147;deferral accounts&#148; must be used to expand broadband service to rural and remote Canadian
communities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Bell had hoped to bring the same world-leading wireless HSPA&#043; technology to small unserved
communities in Ontario and Qu&#233;bec that we&#146;ve rolled out to 93% of the Canadian population already.
More than 100 such locations &#151; communities like La Patrie, Cloud Bay, Denbigh, Morson, Stratton,
Wawa &#151; would have had access to the fastest mobile Internet access speeds and the latest voice and
data products and services available. In fact, a significant number of these communities wrote
letters of support for our HSPA&#043; proposal directly to the CRTC. Instead, the CRTC insists we roll
out less-advanced DSL technology.&#148; said George Cope, President and CEO of Bell and BCE Inc.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Considering the federal government&#146;s commitment to ensuring Canada&#146;s leadership in the digital
economy and its strong support for intensified investment in the latest broadband technologies,
this is quite frankly a shocking decision by the CRTC. It&#146;s a clear opportunity missed, and it
perpetuates the digital divide between rural and urban Canada,&#148; said Mr.&nbsp;Cope.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is worth noting the dissenting opinion of the CRTC&#146;s vice chair of telecom, Len Katz, who wrote
that the CRTC does need to embrace the latest broadband technology available: &#147;By limiting the
rollout of broadband services to DSL technology, the commission has taken a static view of
technology and failed to recognize the dynamic changes taking place in functionality and cost from
newer technologies,&#148; Mr.&nbsp;Katz wrote.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The CRTC also increased Bell&#146;s $488-million deferral account balance to $583&nbsp;million with interest
charges of close to $95&nbsp;million &#151; despite Bell having little control over many of the delays in
the decision &#151; and limited the amount Bell could spend on rolling out rural broadband to $306
million. The CRTC also requires Bell to return approximately $250&nbsp;million, including interest, of
deferral account funds to Bell residential home phone customers in urban areas of Ontario and
Qu&#233;bec in the form of credits, rebates or promotional offers. Bell will announce plans to do so in
coming days.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In 2002, the CRTC required established telcos, including Bell, MTS and TELUS, to create deferral
accounts that would hold surplus funds collected from urban home phone customers for an unspecified
later purpose. The CRTC believed that new competition in telecom would be hampered if the telcos
simply reduced prices for urban customers instead of building up a deferral account.
</DIV>




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

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




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="m64756m6475601.gif" alt="(BELL LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In 2008, the CRTC agreed that Bell could use its deferral account funds to build broadband out to
112 underserved communities in Ontario and Qu&#233;bec. In 2009, Bell applied to the CRTC for permission
to deploy the latest HSPA&#043; broadband technology, which Bell was already planning to roll out to 93%
of the Canadian population by the end of the year. Yesterday, the CRTC decided Bell should instead
bring less-advanced DSL (digital subscriber line) technology to these communities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Financial guidance for 2010</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based on yesterday&#146;s CRTC decision, there is no change to BCE Inc.&#146;s guidance for 2010 for
revenues, EBITDA, capital intensity and Adjusted EPS. However, the Company no longer expects 2010
free cash flow at the high end of the guidance range.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">BCE&#146;s original guidance for 2010 issued on February&nbsp;4, 2010, its increased guidance issued on
August&nbsp;5, 2010, and its current expectation are as follows:
</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="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Guidance</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Increased Guidance</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Current Guidance</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>2010 Guidance</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>February 4, 2010</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>August 5, 2010</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Expectation</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Bell </B>(i)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Revenue Growth
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1% - 2%
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2% - 3%
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2% - 3%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">EBITDA Growth (ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2% - 4%
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2% - 4%
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2% - 4%</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Capital Intensity
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#8804;16%
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#8804;16%
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#8804;16%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>BCE</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Adjusted EPS
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">$2.65 - $2.75
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">$2.75 - $2.80
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">$2.75 - $2.80</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Free Cash Flow (iii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">$2,000 M - $2,200 M
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">High end
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">$2,000 M - $2,200 M</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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

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

<TR valign="top">
    <TD nowrap align="left">(i)</TD>
    <TD>&nbsp;</TD>
    <TD>Bell&#146;s 2010 financial guidance for revenue, EBITDA and capital intensity is exclusive
of Bell Aliant.</TD>
</TR>

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

<TR valign="top">
    <TD nowrap align="left">(ii)</TD>
    <TD>&nbsp;</TD>
    <TD>The most comparable Canadian GAAP financial measure is operating income. For 2010, Bell
expects EBITDA growth of 2% to 4%. This range reflects expected Bell operating income of
approximately $2,900&nbsp;million to $3,100&nbsp;million.</TD>
</TR>

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

<TR valign="top">
    <TD nowrap align="left">(iii)</TD>
    <TD>&nbsp;</TD>
    <TD>The most comparable Canadian GAAP financial measure is cash flows from operating
activities. For 2010, BCE expects to generate free cash flow in the range of $2,000&nbsp;million
to $2,200&nbsp;million. This amount reflects expected BCE cash flows from operating activities
of $5,400&nbsp;million to $5,600&nbsp;million.</TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As the CRTC has increased Bell&#146;s accumulated deferral account balance by an amount of $95&nbsp;million
in interest charges, we now expect restructuring and other charges for 2010 to be in the range of
$170&nbsp;million to $220&nbsp;million.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Bell</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Bell is Canada&#146;s largest communications company, providing consumers and business with solutions to
all their communications needs, including Bell Mobility wireless, high-speed Bell Internet, Bell TV
direct-to-home satellite television, Bell Home Phone local and long distance phone services, and
IP-broadband and information and communications technology (ICT)
</DIV>



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</DIV>

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




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="m64756m6475601.gif" alt="(BELL LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">services. Bell is proud to be a Premier National Partner and the Exclusive Telecommunications
Partner to the Vancouver 2010 Olympic and Paralympic Winter Games.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Bell is wholly owned by BCE Inc. (TSX, NYSE: BCE). For information on Bell&#146;s products and services,
please visit <u>www.bell.ca</u>. For corporate information on BCE, please visit <u>www.bce.ca</u>.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Jacqueline Michelis<BR>
Bell Media Relations<BR>
(613)&nbsp;785-1427<BR>
<u>jacqueline.michelis@bell.ca</u>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thane Fotopoulos<BR>
BCE Investor Relations<BR>
(514)&nbsp;870-4619<BR>
<u>thane.fotopoulos@bell.ca</u>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Caution Concerning Forward-Looking Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Certain statements made in this news release, including, but not limited to, statements relating to
our 2010 financial guidance (including revenues, EBITDA, capital intensity, Adjusted EPS and free
cash flow), expected restructuring and other charges for 2010, and other statements that are not
historical facts, are forward-looking. Forward-looking statements, by their very nature, are
subject to inherent risks and uncertainties and are based on several assumptions which give rise to
the possibility that actual results or events could differ materially from our expectations
expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that
any forward-looking statement will materialize and you are cautioned not to place undue reliance on
these forward-looking statements. The forward-looking statements contained in this news release
describe our expectations at September&nbsp;1, 2010 and, accordingly, are subject to change after such
date. Except as may be required by Canadian securities laws, we do not undertake any obligation to
update or revise any forward-looking statements contained in this news release, whether as a result
of new information, future events or otherwise. Except as otherwise indicated by BCE,
forward-looking statements do not reflect the potential impact of any non-recurring or other
special items or of any dispositions, monetizations, mergers, acquisitions, other business
combinations or other transactions that may be announced or that may occur after September&nbsp;1, 2010.
The financial impact of these transactions and non-recurring and other special items can be complex
and depends on the facts particular to each of them. We therefore cannot describe the expected
impact in a meaningful way or in the same way we present known risks affecting our business.
Forward-looking statements are provided for the purpose of providing information about management&#146;s
current expectations and plans relating, in particular, to 2010 and allowing investors and others
to get a better understanding of our operating environment. Readers are cautioned that such
information may not be appropriate for other purposes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Material Assumptions</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Economic and Market Assumptions</I></B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A number of Canadian economic and market assumptions were made by BCE in preparing its
forward-looking statements for 2010 contained in this news release, including, but not limited to:
(i)&nbsp;growth in Canadian GDP in 2010 based on the estimates of the six major banks in Canada, (ii)
consistent with this consensus view, we have assumed a gradual improvement in the Canadian economic
environment with momentum beginning in the second half of 2010, (iii)&nbsp;revenues generated by the
residential voice telecommunications market in Canada to continue to decrease due, in part, to
landline substitution to competing technologies such as wireless, which is expected to increase in
2010 particularly as a result of aggressive competitive activity by new wireless entrants having
purchased AWS spectrum, and VoIP and other factors including e-mail and instant messaging
substitution, (iv)&nbsp;current levels of competition to continue for residential and business local
voice telephony, as cable operators and other telecom service providers maintain the intensity of
their marketing efforts and continue to leverage their network footprints to pursue market share in
our regions, (v)&nbsp;wireless industry penetration growth in 2010 similar to 2009, and (vi)&nbsp;TV and
Internet market
</DIV>



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

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

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




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="m64756m6475601.gif" alt="(BELL LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">growth at levels slightly lower than 2009, given the relatively high penetration rates and maturity
levels for these products.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Operational Assumptions</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our forward-looking statements for 2010 are also based on certain internal operational assumptions
concerning Bell (excluding Bell Aliant), including, but not limited to: (i)&nbsp;targeted retention and
service bundle offers, customer winbacks and better service execution to maintain residential NAS
line losses steady year over year, (ii)&nbsp;the trend, pursuant to which business market demand was
adversely affected in 2009 as business clients curtailed their spending and investment plans, to
continue to moderate demand for communications services and induce firms to migrate from legacy
services to new technologies that provide cost effective solutions to their needs, (iii)&nbsp;the
November&nbsp;2009 launch of our new HSPA/HSPA&#043; network to drive increased smartphone penetration and
enhance the opportunity for incremental growth in data usage and increased roaming revenues, (iv)
higher employment levels, increased discretionary spending and the resumption of travel as the
economic environment strengthens to result in higher wireless usage and roaming revenues, (v)&nbsp;new
wireless entrant competition to intensify progressively throughout the course of 2010 as additional
service providers come to market, (vi)&nbsp;our wireless revenue growth to be driven by ARPU from new
services, careful price management and a continued disciplined expansion of our subscriber base,
(vii)&nbsp;Bell to benefit from ongoing technological improvements by manufacturers in Bell&#146;s handset
and device lineup and from faster data speeds that are allowing clients to optimize the use of
Bell&#146;s services, (viii)&nbsp;significant increase in our points of sale, (ix)&nbsp;diligent expense
management to moderate the impact of aggressive discount brand and new entrant pricing, higher
retention spending and increased acquisition costs driven by increased smart-phone customer
penetration, (x)&nbsp;wireless EBITDA margin pressure from new entrant competition and increased
subscriber acquisition and retention costs, (xi)&nbsp;wireless ARPU pressure from new entrant
competition, (xii)&nbsp;expense savings, contributing to the maintenance of stable EBITDA margins, to be
achieved from renegotiating contracts with all our key IT vendors and outsource suppliers, the
flow-through from labour force reductions in 2009, field workforce productivity improvements,
leveraging operational synergies from the integration in 2009 of our business customer-facing
units, controlling network maintenance costs, and reducing traffic that is not on our own network,
and (xiii)&nbsp;improved wireline revenues due to revenues from the acquisition of The Source, continued
strong growth in Bell&#146;s TV business, and a continued focus on pricing discipline.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Financial Assumptions</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our forward-looking statements for 2010 are also based on certain other financial assumptions for
2010 concerning Bell (excluding Bell Aliant) including, but not limited to: (i)&nbsp;Bell&#146;s cash taxes
to be approximately $120&nbsp;million, (ii)&nbsp;Bell&#146;s total net benefit plans cost (pension expense), which
is based on a discount rate of 6.4% and a 2009 return on pension plan assets of 15%, to be
approximately $130&nbsp;million, (iii)&nbsp;Bell&#146;s retirement benefit plans funding to be approximately $500
million, (iv)&nbsp;Bell&#146;s capital intensity to be less than or equal to 16%, and (v)&nbsp;Bell to continue to
invest in fibre deployment to expand its wireline broadband footprint to approximately 3.6&nbsp;million
households by the end of 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our forward-looking statements for 2010 are also based on certain other financial assumptions for
2010, including, but not limited to: (i)&nbsp;restructuring and other charges in the range of $170
million to $220&nbsp;million, (ii)&nbsp;depreciation and amortization expense slightly lower than 2009, (iii)
an effective tax rate of approximately 20% or slightly below, and a statutory tax rate of
approximately 30.6%, (iv)&nbsp;EPS to be positively impacted by the planned repurchase of up to $500
million of common shares under BCE&#146;s normal course issuer bid announced in December&nbsp;2009, and (v)
the permanent repayment of long-term debt maturing in 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The foregoing assumptions, although considered reasonable by BCE on September&nbsp;1, 2010, may prove to
be inaccurate. Accordingly, our actual results could differ materially from our expectations as set
forth in this news release.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Material Risks</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Important risk factors that could cause our assumptions and estimates to be inaccurate and actual
results or events to differ materially from those expressed in or implied by the above-mentioned
forward-looking statements, including our 2010 financial guidance, are listed below. Our ability to
meet our 2010 financial guidance essentially depends on our business performance which, in turn, is
subject to many risks. Accordingly, readers are cautioned that any of the following risks could
have a material adverse effect on our forward-looking statements. These risks include, but are not
limited to: the intensity of competitive activity, including the increase in wireless competitive
activity resulting from Industry Canada&#146;s licensing of AWS spectrum to new wireless entrants, and
the resulting impact on our ability to retain existing, and attract new, customers, and on our
pricing strategies and financial results; general economic and
</DIV>



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

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

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




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="m64756m6475601.gif" alt="(BELL LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">financial market conditions, the level of consumer confidence and spending, and the demand for, and
prices of, our products and services; our ability to implement our strategies and plans in order to
produce the expected benefits; our ability to continue to implement our cost reduction initiatives
and contain capital intensity while seeking to improve customer service; our ability to respond to
technological changes and rapidly offer new products and services; increased contributions to
employee benefit plans; events affecting the functionality of, and our ability to protect, maintain
and replace, our networks, information technology systems and software; events affecting the
ability of third-party suppliers to provide to us essential products and services; the quality of
our network and customer equipment and the extent to which they may be subject to manufacturing
defects; labour disruptions; the potential adverse effects on our Internet and wireless businesses
of the significant increase in broadband demand; our ability to raise the capital we need to
implement our business plan, including for BCE&#146;s share buy-back program and dividend payments and
to fund capital and other expenditures and generally meet our financial obligations; our ability to
discontinue certain traditional services as necessary to improve capital and operating
efficiencies; regulatory initiatives or proceedings, litigation and changes in laws or regulations;
launch and in-orbit risks of satellites used by Bell TV; competition from unregulated U.S. DTH
satellite television services sold illegally in Canada and the theft of our satellite television
services; BCE&#146;s dependence on the ability of its subsidiaries, joint ventures and other companies
in which it has an interest to pay dividends and make other distributions; there can be no
certainty that dividends will be declared by BCE&#146;s board of directors or that BCE&#146;s dividend policy
will be maintained; stock market volatility; our ability to maintain customer service and our
networks operational in the event of the occurrence of epidemics, pandemics and other health risks;
health concerns about radio frequency emissions from wireless devices; and loss of key employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For additional information with respect to certain of these and other assumptions and risks, please
refer to BCE&#146;s 2009 Annual MD&#038;A dated March&nbsp;11, 2010 (included in the BCE 2009 Annual Report),
BCE&#146;s 2010 First Quarter MD&#038;A dated May&nbsp;5, 2010 and BCE&#146;s 2010 Second Quarter MD&#038;A dated August&nbsp;4,
2010, all filed by BCE with the Canadian securities commissions (available at <u>www.sedar.com</u>) and
with the U.S. Securities and Exchange Commission (available at <u>www.sec.gov</u>). These documents are
also available on BCE&#146;s website at <u>www.bce.ca</u>.
</DIV>



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



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