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<SEC-DOCUMENT>0000950123-11-000344.txt : 20110104
<SEC-HEADER>0000950123-11-000344.hdr.sgml : 20110104
<ACCEPTANCE-DATETIME>20110104172546
ACCESSION NUMBER:		0000950123-11-000344
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20110104
FILED AS OF DATE:		20110104
DATE AS OF CHANGE:		20110104

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:		11507379

	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>m67654e6vk.htm
<DESCRIPTION>6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</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: 18pt; margin-top: 12pt"><B>FORM 6-K</B>
</DIV>


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


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16 under<BR>
the Securities Exchange Act of 1934</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,
Corporate Secretary&#146;s Office, Building A7, Verdun, Qu&#233;bec, Canada H3E 3B3,
</I></B></DIV>


<DIV align="center" style="font-size: 10pt">
<I>(Address of principal executive office)</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="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;<FONT style="font-family: Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form&nbsp;40-F&nbsp;&nbsp;&nbsp;<FONT style="font-family: Wingdings">&#120;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</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):&nbsp;&nbsp;&nbsp;<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):&nbsp;&nbsp;&nbsp;<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="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Yes&nbsp;&nbsp;&nbsp;<FONT style="font-family: Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No&nbsp;&nbsp;&nbsp;<FONT style="font-family: Wingdings">&#120;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

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



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





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

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

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




<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: January 4, 2011&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>

<!-- 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="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="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt">&nbsp;</TD>

<TD valign="top" style="font-size: 10pt"><DIV style="margin-left:0px; text-indent:-0px">Press
Release &#151; January&nbsp;1, 2011</DIV></TD>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt">&nbsp;</TD>

<TD valign="top" style="font-size: 10pt"><DIV style="margin-left:0px; text-indent:-0px">Early
Warning Report &#151; January&nbsp;4, 2011</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>m67654exv1.htm
<DESCRIPTION>EX-1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT 1</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="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><IMG src="m67654m6765403.gif" alt="(BCE LOGO)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom"><IMG src="m67654m6765404.gif" alt="(NEWS RELEASE LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 15pt">For Immediate Release</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 18pt"><B>BCE announces completion of Bell Aliant conversion</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt">MONTR&#201;AL, January&nbsp;1, 2011 &#151; BCE Inc. (TSX, NYSE: BCE) today announced that on January&nbsp;1,
2011, Bell Aliant Regional Communications Income Fund (the Fund) completed a plan of arrangement
under Section&nbsp;192 of the Canada Business Corporations Act (the Plan of Arrangement) pursuant to
which it converted to a corporate structure (the Conversion).</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">Under the Plan of Arrangement, BCE and Bell Canada exchanged, through a series of steps,
substantially all of their direct and indirect interests in the Fund and its underlying entities
for an aggregate of 100,376,270 common shares of Bell Aliant Inc. (Bell Aliant), the successor to
the Fund, representing an approximate 44.1% interest in Bell Aliant. Immediately prior to the
Conversion, BCE held, directly and indirectly, an approximate 44.1% interest in the Fund (on an
as-converted basis).</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">Under the Plan of Arrangement, unitholders of the Fund received one common share of Bell Aliant for
each unit of the Fund held. The common shares of Bell Aliant are listed on the TSX under the
trading symbol BA. As a result of the Plan of Arrangement, BCE also owns, indirectly through Bell
Canada, a nominal interest in Bell Aliant&#146;s otherwise wholly owned subsidiary Bell Aliant Regional
Communications Inc.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">In connection with the Plan of Arrangement, BCE and Bell Canada amended and restated their existing
securityholders&#146; agreement with the Fund and its underlying entities to reflect the Conversion.
Under the amended and restated securityholders&#146; agreement dated January&nbsp;1, 2011, BCE has similar
rights as it had prior to the Conversion, including the right to appoint a majority of the
directors of Bell Aliant Regional Communications Inc. and the right to nominate a majority of the
directors of Bell Aliant, subject to certain conditions, for so long as BCE has not less than a 30%
interest in Bell Aliant.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">As required by applicable securities laws, BCE hereby discloses that it holds its interest in Bell
Aliant and Bell Aliant Regional Communications Inc. for strategic purposes and that, although it
has no current intention to acquire additional securities of Bell Aliant or Bell Aliant Regional
Communications Inc., it reserves the right to increase or decrease, from time to time, its
ownership over securities of Bell Aliant and Bell Aliant Regional Communications Inc.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">A copy of the early warning report corresponding to this news release can be obtained from BCE
Investor Relations at 1-800-339-6353 or <U>investor.relations@bce.ca</U>, or on SEDAR at <U>www.sedar.com</U>.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About BCE<BR></B>
BCE is Canada&#146;s largest communications company, providing the most comprehensive and innovative
suite of communication services to residential and business customers in Canada. Operating under
the Bell and Bell Aliant brands, the Company&#146;s services include telephone services, wireless
communications, high-speed Internet, digital television, IP-broadband services and information and
communications technology (ICT)&nbsp;services.</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->1/2<!-- /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="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><IMG src="m67654m6765403.gif" alt="(BCE LOGO)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom"><IMG src="m67654m6765404.gif" alt="(NEWS RELEASE LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt">The Bell Mental Health Initiative is a multi-year charitable program that promotes mental health
across Canada via the Bell Let&#146;s Talk anti-stigma campaign and support for community care, research
and workplace best practices. To learn more, please visit <U>www.bce.ca/mentalhealth</U>. For BCE
corporate information, please visit <U>www.bce.ca</U>. For Bell product and service information, please
visit <U>www.bell.ca</U>.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><B>Media inquiries</B><BR>
Marie-&#200;ve Francoeur<BR>
Bell Media Relations<BR>
514-391-5263<BR>
<U>marie-eve.francoeur@bell.ca</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Investor inquiries:</B><BR>
BCE Investor Relations<BR>
1-800-339-6353<BR>
<U>investor.relations@bce.ca</U>

</DIV>


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



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>3
<FILENAME>m67654exv2.htm
<DESCRIPTION>EX-2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT 2</B>
</DIV>


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


<DIV style="margin-top: 9pt">
<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="4%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Name and Address of offeror.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>BCE Inc. (&#147;<B>BCE</B>&#148;)<BR>
1, Carrefour Alexander-Graham-Bell<BR>
Building A8<BR>
Verdun, Qu&#233;bec H3E 3B3</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Designation and number, or principal amount, of securities and the offeror&#146;s security holding
percentage in the class of securities of which the offeror acquired ownership or control in
the transaction or occurrence giving rise to the obligation to file the news release, and
whether it was ownership or control that was acquired in those circumstances.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On January&nbsp;1, 2011, Bell Aliant Regional Communications Income Fund (the &#147;Fund&#148;) completed
a plan of arrangement under Section&nbsp;192 of the <I>Canada Business Corporations Act </I>(the &#147;Plan
of Arrangement&#148;) pursuant to which it &#147;converted&#148; to a corporate structure (the
&#147;Conversion&#148;). Under the Plan of Arrangement, BCE and Bell Canada (a wholly-owned
subsidiary of BCE) exchanged, through a series of steps, substantially all of their direct
and indirect interests in the Fund and its underlying entities for an aggregate of
100,376,270 common shares of Bell Aliant Inc. (&#147;Bell Aliant&#148;), the successor to the Fund,
representing an approximate 44.1% interest in Bell Aliant. Immediately prior to the
Conversion, BCE held, directly and indirectly, an approximate 44.1% interest in the Fund
(on an as-converted basis). In addition, under the Plan of Arrangement, Bell Aliant
Regional Communications Holdings Inc., the former Bell Aliant Regional Communications Inc.
and 7538332 Canada Inc. (all underlying entities of the Fund) amalgamated under the <I>Canada
Business Corporations Act </I>(the &#147;Amalgamation&#148;) to continue as Bell Aliant Regional
Communications Inc. (&#147;Bell Aliant Amalco&#148;). Under the Amalgamation, Bell Canada exchanged
one voting common share in Bell Aliant Regional Communications Holdings Inc. for one voting
common share of Bell Aliant Amalco. The balance of the outstanding shares in Bell Aliant
Amalco are owned by Bell Aliant.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In connection with the Plan of Arrangement, BCE and Bell Canada amended and restated their
existing securityholders&#146; agreement with the Fund and its underlying entities to reflect
the Conversion. Under the amended and restated securityholders&#146; agreement dated January&nbsp;1,
2011 (the &#147;Securityholders&#146; Agreement&#148;), BCE has similar rights as it had prior to the
Conversion, including the right to appoint a majority of the directors of Bell Aliant
Amalco and the right to nominate a majority of the directors of Bell Aliant, subject to
certain conditions, for so long as BCE has not less than a 30% interest in Bell Aliant.</TD>
</TR>

</TABLE>
</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: 'Times New Roman',Times,serif">


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


<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 5%">As a result of the foregoing transactions:
</DIV>

<DIV style="margin-top: 9pt">
<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="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As of January&nbsp;1, 2011, BCE owns, directly and indirectly, 100,376,270 common shares
of Bell Aliant, representing an approximate 44.1% interest in Bell Aliant.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All of the issued and outstanding voting common shares of Bell Aliant Amalco are
owned by Bell Aliant, with the exception of one voting common share of Bell Aliant
Amalco held by Bell Canada.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>BCE has the right to nominate a majority of the directors of Bell Aliant, and has
the right to appoint a majority of the directors of Bell Aliant Amalco, subject to
certain conditions, for so long as BCE has not less than a 30% interest in Bell
Aliant.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 9pt">
<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="4%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Designation and number or principal amount of securities and the offeror&#146;s securityholding
percentage in the class of securities immediately after the transaction or occurrence giving
rise to obligations to file a news release.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Immediately following the completion of the Plan of Arrangement, BCE directly and
indirectly owned 100,376,270 common shares of Bell Aliant (representing approximately 44.1%
of the outstanding common shares of Bell Aliant) and one voting common share (representing
a nominal percentage) of Bell Aliant Amalco.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Designation and number, or principal amount of securities, and the percentage of outstanding
securities of the class of securities referred to in paragraph 3 over which:</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 9pt">
<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="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The offeror, either alone or together with any joint actors, has ownership
and control;</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As described in paragraph 3 above.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The offeror, either alone or together with joint actors, has ownership but
control is held by other persons or companies other than the offeror or any joint
actor; and</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nil.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The offeror, either alone or together with joint actors, has exclusive or
shared control but does not have ownership.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As a result of the Securityholders&#146; Agreement, BCE has the right, for so long as it
owns not less than a 30% interest in Bell Aliant, subject to certain conditions, to
direct the voting of certain of the securities of Bell Aliant Amalco (and of
certain other underlying entities of Bell Aliant) so as to cause the election of a
majority of directors as selected by BCE. As a result, in this respect BCE may be
said to exercise control over these securities.</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 -->- 3 -<!-- /Folio -->


<DIV style="margin-top: 12pt">
<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="4%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The name of the market in which the transaction or occurrence that gave rise to the news
release took place.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The foregoing transactions were effected under the Plan of Arrangement. The common shares
of Bell Aliant are listed on the Toronto Stock Exchange (the &#147;TSX&#148;) under the trading
symbol &#147;BA&#148;.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The value, in Canadian dollars, of any consideration offered per security if the offeror
acquired ownership of a security in the transaction or occurrence giving rise to the
obligation to file a news release.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As described under paragraph 2 above, BCE acquired its direct and indirect interest in Bell
Aliant and Bell Aliant Amalco in exchange for its direct and indirect interest in the Fund
and its underlying entities pursuant to the Plan of Arrangement and as a result of the
Conversion.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><B>7.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The purpose of the offeror and any joint actors in effecting the transaction or occurrence
that gave rise to the news release, including any future intention to acquire ownership of, or
control over, additional securities of the reporting issuer.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>BCE holds its interest in Bell Aliant and Bell Aliant Amalco for strategic purposes.
Although BCE has no current intention to acquire additional securities of Bell Aliant or
Bell Aliant Amalco, it reserves the right to increase or decrease, from time to time, its
ownership over securities of Bell Aliant and Bell Aliant Amalco.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><B>8.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The general nature and the material terms of any agreement, other than lending arrangements,
with respect to securities of the reporting issuer, entered into by the offeror, or any joint
actor, and the issuer of the securities or any other entity in connection with the transaction
or occurrence giving rise to the news release, including agreements with respect to the
acquisition, holding, disposition or voting of any securities.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Plan of Arrangement, along with the various agreements related thereto, were described
in the management information circular of the Fund dated May&nbsp;7, 2010, which has been filed
on SEDAR and is available at www.sedar.com.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In connection with the completion of the Plan of Arrangement, BCE and Bell Canada amended
and restated their existing securityholders&#146; agreement with the Fund and its underlying
entities to reflect the Conversion. Under the Securityholders&#146; Agreement, BCE has the right
to appoint a majority of the directors of Bell Aliant Amalco and the right to nominate a
majority of the directors of Bell Aliant, subject to certain conditions, for so long as BCE
has not less than a 30% interest in Bell Aliant. The Securityholders&#146; Agreement also
provides BCE with certain veto rights and certain pre-emptive rights to enable BCE, if it
so desires, to maintain its direct and indirect fully-diluted percentage ownership of
common shares of Bell Aliant.</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: 12pt">
<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="4%" nowrap align="left"><B>9.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The names of any joint actors in connection with the disclosure required above.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Bell Canada is a wholly-owned subsidiary of BCE, and is the registered holder of 84,768,947
common shares of Bell Aliant (representing approximately 37.2% of the outstanding common shares
of Bell Aliant) and one voting common share of Bell Aliant Amalco. Bell Canada can
therefore be said to be acting jointly or in concert with BCE. BCE may, from time to time,
hold its direct and indirect interest in Bell Aliant and Bell Aliant Amalco through one or
more subsidiaries or affiliates.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><B>10.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>In the case of a transaction or occurrence that did not take place on a stock exchange or
other market that represents a published market for the securities, including an issuance from
treasury, the nature and value, in Canadian dollars of the consideration paid by the offeror.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As described under paragraph 2 above, BCE acquired its direct and indirect interest in Bell
Aliant and Bell Aliant Amalco in exchange for its direct and indirect interest in the Fund
and its underlying entities pursuant to the Plan of Arrangement and as a result of the
Conversion. The common shares of Bell Aliant are listed on the TSX under the symbol &#147;BA&#148;.</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><B>11.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>If applicable, a description of any change in any material fact set out in a previous report
by the entity under the early warning requirements or Part&nbsp;4 of National Instrument 62-103 in
respect of the reporting issuer&#146;s securities.</B></TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As described in paragraph 2 above.</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 -->&nbsp;<!-- /Folio -->


<DIV align="left" style="font-size: 10pt; margin-top: 9pt"><B>DATED </B>at Verdun, Quebec this 4<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> day of January, 2011.</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"><BR><B>BCE INC.<BR></B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">(<I>Signed</I>) &#147;<I>Martine Turcotte</I>&#148;
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Martine Turcotte&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Executive Vice-President and<BR>Chief Legal &#038; Regulatory Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
