<SEC-DOCUMENT>0000718940-12-000008.txt : 20120503
<SEC-HEADER>0000718940-12-000008.hdr.sgml : 20120503
<ACCEPTANCE-DATETIME>20120503121359
ACCESSION NUMBER:		0000718940-12-000008
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20120503
FILED AS OF DATE:		20120503
DATE AS OF CHANGE:		20120503

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:		12808465

	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>6k_q112.htm
<DESCRIPTION>FORM 6-K
<TEXT>

<HTML>
<HEAD>
   <TITLE>Form 6-K</TITLE>
   <meta equiv="Content-Type" content="text/html; charset=windows-1252">
</HEAD>

<BODY bgcolor="#ffffff">




<P style="text-align: center;">
<B>SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, D.C. 20549</B></P>
<P style="text-align: center;">
<B>FORM 6-K</B></P>
<P style="text-align: center;">
<B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>
<P style="text-align: center;">
<font size="2">Pursuant to Rule 13a-16 or 15d-16 under <br>
the Securities Exchange Act of 1934</font></P>
<div align="center">
	<table border="0" width="75%" cellpadding="0" style="border-collapse: collapse" id="table1">
		<tr>
			<td valign="top" width="50%" align="center">
<font size="2">For the month of: May 2012</font></td>
			<td valign="top" width="50%" align="center">
<P style="text-align: center;">
<font size="2">Commission File Number: </font> <B><font size="2">1-8481</font></B></P>
			</td>
		</tr>
	</table>
</div>
<P style="text-align: center;">
<B>BCE Inc.</B><I><font size="2"><br>
(Translation of Registrant&#146;s name into English)</font></I></P>
<P style="text-align: center;">
<B>1, Carrefour Alexander-Graham-Bell, Verdun, Qu&#233;bec H3E 3B3, (514) 870-8777</B><I><font size="2"><br>
(Address of principal executive offices)</font></I></P>
<P style="text-align: left;">
<font size="2">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</font></P>
<div align="center">
	<table border="0" width="75%" cellpadding="0" style="border-collapse: collapse" id="table2">
		<tr>
			<td valign="top" width="50%" align="center">
<font size="2">Form 20-F&nbsp; __________</font></td>
			<td valign="top" width="50%" align="center">
<font size="2">Form 40-F&nbsp; __________</font></td>
		</tr>
	</table>
</div>
<P style="text-align: left;">
<font size="2">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _____</font></P>
<P style="text-align: left;">
<font size="2">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _____</font></P>
<P style="text-align: left;">
<font size="2">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 12g3-2(b) under the Securities Exchange Act of 1934.</font></P>
<div align="center">
	<table border="0" width="75%" cellpadding="0" style="border-collapse: collapse" id="table3">
		<tr>
			<td valign="top" width="50%" align="center">
<font size="2">Yes&nbsp; __________</font></td>
			<td valign="top" width="50%" align="center">
<font size="2">No&nbsp; __________</font></td>
		</tr>
	</table>
</div>
<P style="text-align: left;">
<font size="2">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.</font></P>
<hr width="75%" size="1" color="#000000">
<P style="text-align: left;">
<font size="2">Only the BCE Inc. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations for the quarter ended March 31, 2012 and the BCE Inc. unaudited interim consolidated financial statements for the quarter ended March 31, 2012, included in the BCE Inc. 2012 First Quarter Shareholder Report furnished with this Form 6-K as Exhibit 99.1, are incorporated by reference in the registration statements filed by BCE Inc. with the Securities and Exchange Commission on Form F-3 (Registration Statement No. 333-12130), Form S-8 (Registration Statement No. 333-12780), Form S-8 (Registration Statement No. 333-12802) and Form F-9 (Registration Statement No. 333-176092). Except for the foregoing, no other document or portion of document furnished with this Form 6-K is incorporated by reference in BCE Inc.&#146;s registration statements. 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.</font></P>
<P style="text-align: right;margin-bottom:0">
<font size="2">Page 1</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: center;">
<B>SIGNATURE</B></P>
<P style="text-align: left;">
<font size="2">&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.</font></P>
<P style="text-align: left;">
&nbsp;</P>
<div align="right">
	<table border="0" width="50%" cellpadding="0" style="border-collapse: collapse" id="table4">
		<tr>
			<td style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<P style="text-align: left;">
<B>BCE Inc.</B></P>
			<P style="text-align: left;">
&nbsp;</P>
			<P style="text-align: left;">
<I><font size="2">(signed) Siim A. Vanaselja</font></I></P></td>
		</tr>
		<tr>
			<td><font size="2">Siim A. Vanaselja<BR>
Executive Vice-President and Chief Financial
Officer</font><p><font size="2">May 3, 2012</font></td>
		</tr>
	</table>
</div>
<P style="text-align: left;">
&nbsp;</P>


<P style="text-align: right;margin-bottom:0">
<font size="2">Page 2</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: center;">
<B>EXHIBIT INDEX</B></P>
<P style="text-align: left;">
<font size="2">99.1&nbsp; BCE Inc. 2012 First Quarter Shareholder Report<BR>
99.2&nbsp; Supplementary Financial Information &#150; First Quarter 2012<BR>
99.3&nbsp; CEO/CFO Certifications<BR>
99.4&nbsp; News Release<BR>
99.5&nbsp; Bell Canada Unaudited Selected Summary Financial Information</font></P>


<P style="text-align: right;margin-bottom:0">
<font size="2">Page 3</font></P>


<HR noshade size=1 color="#000000">





</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>bce_q112.htm
<DESCRIPTION>BCE INC. 2012 FIRST QUARTER SHAREHOLDER REPORT
<TEXT>

<HTML>
<HEAD>
   <TITLE>BCE&nbsp;2012 First Quarter Shareholder Report</TITLE>
   <meta equiv="Content-Type" content="text/html; charset=windows-1252">
</HEAD>

<BODY bgcolor="#ffffff">




<p align="right"><font face="Arial" size="2">EXHIBIT 99.1</font></p>




<P style="text-align: left;">
&nbsp;</P>

<div align="center">

<TABLE border=0 style="width:90%" cellspacing=0 cellpadding="0">
<TR valign="bottom">
	<TD align=left width="184%" colspan="4">
<img border="0" src="cover1.jpg" width="626" height="284"><p>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left width="46%" rowspan="17" valign="top"
 style="border-right: 1px dotted #000000">
<img border="0" src="cover2.jpg" width="389" height="371"><p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</TD>
	<TD align=left width="4%" valign="top">
&nbsp;</TD>
	<TD align=left width="46%" valign="top">
<p style="margin-left: 12px; margin-top: 6px; text-indent:-12px">
<font face="Arial" size="2">
<B>CONTENTS</B></font></p>
<p style="margin-left: 12px">&nbsp;</TD>
	<TD align=left width="4%" valign="top">
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="margin-left: 12px; text-indent:-12px">
<font face="Arial" size="2">MD&amp;A</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">2</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Caution Regarding Forward-Looking Statements</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">2</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">About Our Business</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">3</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Quarterly Financial Information</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">7</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Financial Results Analysis</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">8</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Consolidated Analysis</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">8</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Segmented Analysis</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">11</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Financial and Capital Management</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">16</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Updates to Our Regulatory Environment</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">18</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Assumptions and Risks that Could Affect Our Business and Results</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">21</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Our Accounting Policies</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">24</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Controls and Procedures</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">24</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Non-GAAP Financial Measures</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">24</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Consolidated Financial Statements</font></TD>
	<TD align=right width="4%">
<font face="Arial" size="2">26</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Notes to Consolidated Financial Statements</font></TD>
	<TD align=left width="4%">
<p align="right">
<font size="2" face="Arial">&nbsp; 30</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="4%">
&nbsp;</TD>
	<TD align=left width="46%">
<p style="text-indent: -12px; margin-left: 12px">
&nbsp;</TD>
	<TD align=right width="4%">
&nbsp;</TD>
</TR>
</TABLE>

</div>

<P style="MARGIN:0px">&nbsp;</P>


<HR noshade size=1 color="#000000">





<P style="text-align: left;">
<font face="Arial" size="5">Management&#146;s Discussion and Analysis</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>In this management&#146;s discussion and analysis of financial condition and results of operations (MD&amp;A), </I>we, us, our, BCE&nbsp;<I>and </I>the company <I>mean either BCE&nbsp;Inc. or, collectively, BCE&nbsp;Inc., its subsidiaries, joint ventures and associates. </I>Bell&nbsp;<I>means our Bell&nbsp;Wireline, Bell&nbsp;Wireless and Bell&nbsp;Media segments on an aggregate basis. </I>Bell&nbsp;Aliant <I>means either Bell&nbsp;Aliant&nbsp;Inc. or, collectively, Bell&nbsp;Aliant&nbsp;Inc. and its subsidiaries.</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>All amounts in this MD&amp;A are in&nbsp;millions of Canadian dollars, except where noted.</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>Please refer to the unaudited consolidated financial statements for the first quarter of&nbsp;2012 when reading this MD&amp;A. We also encourage you to read BCE&nbsp;Inc.&#146;s MD&amp;A for the year ended December&nbsp;31,&nbsp;2011 dated March&nbsp;8,&nbsp;2012 (BCE&nbsp;2011 Annual MD&amp;A). In preparing this MD&amp;A, we have taken into account information available to us up to May&nbsp;2,&nbsp;2012, the date of this MD&amp;A, unless otherwise stated.</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>You will find more information about us, including BCE&#146;s annual information form for the year ended December&nbsp;31,&nbsp;2011 dated March&nbsp;8,&nbsp;2012 (BCE&nbsp;2011 AIF) and recent financial reports, on BCE&#146;s website at www.bce.ca, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">This MD&amp;A comments on our operations, performance and financial condition for the three months (Q1) ended March&nbsp;31,&nbsp;2012 and&nbsp;2011.</font></P>
<P style="text-align: left;">
<font face="Arial" size="4">
<B>Caution Regarding Forward-Looking Statements</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">This MD&amp;A and, in particular, but without limitation, the section of this MD&amp;A entitled <I>Assumptions and Risks that Could Affect Our Business and Results</I>, contains forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to certain aspects of the business outlook of Bell&#146;s Wireline, Wireless and Media segments, our Fourth Generation (4G) Long-Term Evolution (LTE) wireless network deployment plans, the expected timing and completion of our proposed acquisition of Astral Media&nbsp;Inc. (Astral)
and of an interest in Maple Leaf Sports &amp; Entertainment Ltd. (MLSE), the expected contribution of Astral to BCE&#146;s earnings and free cash flow per share, the expected amount and sources of financing for,
and the benefits expected to result from, the proposed acquisition of Astral, and BCE&#146;s business objectives and strategies. Forward-looking statements also include any other statements that do not refer to historical facts. A statement we make is forward-looking when it uses what we know and expect today to make a statement about the future. Forward-looking statements may include words such as <I>aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target </I>and <I>will</I>. All such forward-looking statements are made pursuant to the &#145;safe harbour&#146; provisions of applicable Canadian securities laws and of the <I>United States Private Securities Litigation Reform Act of 1995</I>.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise indicated by us, forward-looking statements in this MD&amp;A describe our expectations at May&nbsp;2,&nbsp;2012 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, whether as a result of new information, future events or otherwise.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 and that our business outlook, objectives, plans and strategic priorities may not be achieved. 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. Forward-looking statements are provided in this MD&amp;A for the purpose of giving information about management&#146;s current strategic priorities, expectations and plans, and allowing investors and others to get a better understanding of our business outlook and operating environment. Readers are cautioned, however, that such information may not be appropriate for other purposes.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward-looking statements made in this MD&amp;A are based on a number of assumptions that we believed were reasonable on May&nbsp;2,&nbsp;2012. <I>Certain key economic, market and operational assumptions we have used in making forward-looking statements contained in this MD&amp;A include, without limitation, those described in the section of this MD&amp;A entitled </I>Assumptions and Risks that Could Affect Our Business and Results, <I>which section is incorporated by reference in this cautionary statement</I>. If our assumptions turn out to be inaccurate, our actual results could be materially different from what we expect. Unless otherwise indicated in this MD&amp;A, the strategic priorities, business outlooks and assumptions described in the BCE&nbsp;2011 Annual MD&amp;A remain substantially unchanged.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Important risk factors including, without limitation, competitive, operational, technological, economic, financial and regulatory risks, that could cause actual results or events to differ materially from those expressed in or implied by the above-mentioned forward-looking statements and other forward-looking statements included in this MD&amp;A include, but are not limited to, the risks described in the sections of this MD&amp;A entitled </I>Updates to Our Regulatory Environment <I>and </I>Assumptions and Risks that Could Affect Our Business and Results, <I>which sections are incorporated by reference in this cautionary statement</I>. We caution readers that the risks described in the above-mentioned sections of this MD&amp;A are not the only ones that could impact us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on our business, financial position or financial performance.</font></P>






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b>2 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>






<P style="text-align: left;">
<font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise indicated by us, 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 May&nbsp;2,&nbsp;2012. 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.</font></P>
<P style="text-align: left;">
<font face="Arial" size="4">
<B>About Our Business</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>QUARTER IN REVIEW</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Bell&#146;s operating performance in the first quarter of&nbsp;2012 was highlighted by profitable wireless postpaid subscriber growth, as evidenced by higher blended average revenue per unit (ARPU), and disciplined spending on postpaid subscriber acquisition and customer retention, which helped drive double-digit wireless EBITDA<SUP>1 </SUP>growth and higher margins year over year. We also enjoyed growing market traction for Fibe TV (our Internet protocol television (IPTV) service) in Toronto, Montr&eacute;al and Qu&eacute;bec City, improved Internet subscriber results, and fewer retail residential network access service (NAS) line losses. As a result of aggressive competitive pricing on service bundle offers in the quarter, we offered richer upfront promotional discounts and retention credits to customers. This, along with ongoing legacy voice and data revenue declines, as well as repricing pressures in our business and wholesale markets, contributed to lower overall wireline revenues this quarter. However, we maintained wireline margins relatively steady, year over year, as a result of continued wireline cost reductions and stabilizing operating performance in our Business Markets unit. In the quarter, we also generated increased net earnings and substantial free cash flow<SUP>2</SUP>, supported by the significant contribution of Bell&nbsp;Media, which together with a strong financial and liquidity position, supports the growth of our business and capital structure objectives in&nbsp;2012.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues at Bell&nbsp;grew 11.6% in Q1&nbsp;2012. This double-digit increase was the result of the acquisition of CTV&nbsp;Inc. (CTV) on April&nbsp;1,&nbsp;2011 and its contribution to our Bell&nbsp;Media segment, which generated considerable advertising revenues from TV, radio and its digital properties, as well as subscriber revenues that reflected the impact of rate increases for certain Bell&nbsp;Media specialty television services. Continued solid wireless and residential Internet revenue growth, as well as higher Internet Protocol (IP) broadband connectivity revenues and data sales in our Business Markets unit, also contributed to top-line growth at Bell&nbsp;this quarter. This improvement was moderated by lower legacy voice due to a decline in access lines and digital circuits as consumers continue to adopt wireless and IP-based technologies.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&#146;s EBITDA increased 6.6% in Q1&nbsp;2012, driven by the acquisition of CTV, as well as by strong wireless EBITDA growth. Bell&nbsp;Wireless&#146; EBITDA grew 13.0% this quarter, mainly as a result of higher wireless operating revenues, driven by higher data usage from accelerating smartphone adoption, and well-controlled operating costs. Bell&nbsp;Wireline&#146;s EBITDA decreased 3.9% as a 3.2% reduction in operating costs was more than offset by a year-over-year decline in revenues as described above.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At Bell&nbsp;Wireless this quarter, we focused on balancing postpaid subscriber growth with profitability as we maintained price discipline in both customer acquisition and retention spending. Increased competitive intensity was evident in pricing and an increased number of unlimited usage rate plan offers featuring low-priced devices. Postpaid net activations of 62,576 in Q1&nbsp;2012 were down from 80,648 last year on 2.0% fewer gross activations year over year. Moreover, due to our continued focus on acquiring higher-value postpaid customers, our smartphone customer base increased significantly this quarter and now comprises 52% of postpaid subscribers, up from 34% one year earlier. Accelerating smartphone adoption resulted in significantly higher wireless data usage in the quarter, which contributed to strong wireless data revenue growth of 31% and blended ARPU growth of 4.2%. With our focus on postpaid customer acquisitions at Bell&nbsp;Mobility&nbsp;Inc. (Bell&nbsp;Mobility) and Virgin Mobile&nbsp;Canada (Virgin Mobile), as well as aggressive acquisition offers from the newer wireless entrants for lower-value subscribers, we lost 83,903 net prepaid customers this quarter on 23.8% fewer prepaid gross activations and higher churn.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At Bell&nbsp;TV, we added 17,623 new net subscribers in Q1&nbsp;2012, up from 8,058 in Q1&nbsp;2011. TV subscriber acquisition this quarter was fuelled by increased sales of Fibe TV, reflecting increasing customer demand as we further expanded our IPTV service footprint and enhanced our service bundle offers in many urban markets to include Fibe TV and Fibe Internet services. This was moderated by lower satellite TV net activations, due to roll-outs of IPTV service by other competing service providers, aggressive customer conversion offers from cable TV competitors, and Bell&nbsp;customer migrations to Fibe TV.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We also experienced stronger Internet subscriber acquisition this quarter. Although high-speed Internet net activations in Q1&nbsp;2012 decreased slightly year over year, the 12,393 new customers we added this quarter represented an improvement over the previous few quarters, reflecting the pull-through effect of Fibe TV customer activations, continued broadband fibre service expansion, as well as fewer business and wholesale customer deactivations.</font></P>
<table border="0" width="10%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="100%" valign="top"
  style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
&nbsp;</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<I><FONT face="Arial" size="1">1</FONT></I></td>
		<td width="98%" valign="top">
<P align="left">
<font face="Arial" size="1">
<I>EBITDA is a non-GAAP financial measure and does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other companies. We define EBITDA as operating revenues less operating costs, as shown in BCE&#146;s consolidated income statements. EBITDA for BCE&#146;s segments is the same as segment profit as reported in Note 3 of BCE&#146;s Q1&nbsp;2012 consolidated financial statements. See </I>Non-GAAP Financial Measures &#150; EBITDA <I>in this MD&amp;A for more details.</I></font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<I><FONT face="Arial" size="1">2</FONT></I></td>
		<td width="98%" valign="top">
<P align="left">
<font face="Arial" size="1">
<I>Free cash flow is a non-GAAP financial measure and does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other companies. See </I>Non-GAAP Financial Measures &#150; Free cash flow <I>in this MD&amp;A for more details, including a reconciliation to the most comparable IFRS financial measure.</I></font></P>
		</td>
	</tr>
</table>
<p align="left">&nbsp;</p>




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>3</b></font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>






<P style="text-align: left;">
<font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In our traditional local telephone business, NAS net losses totalled 96,530 in Q1&nbsp;2012, compared to net losses of 59,243 in Q1&nbsp;2011. The results for the first quarter of&nbsp;2011 include wholesale residential and business customer migrations from a cable competitor via a third-party reseller of telecommunications services, which began in Q4&nbsp;2010 and which were completed substantially in Q2&nbsp;2011. Excluding the impact of this third-party reseller, total NAS net losses increased slightly to 89,699 this quarter from 87,694 in the first quarter last year, reflecting 2,392, or 3.4%, fewer residential NAS line losses offset by 4,397, or 24.0%, more business access line losses year over year. The year-over-year improvement in residential NAS line losses reflected the positive pull-through effect of service bundle offers that include Fibe TV and Fibe Internet, competitive retention offers and customer winbacks. The year-over-year increase in business access line losses can be attributed to the continuing trend of increased competition in the mass and mid-sized business markets, ongoing conversion of voice lines to IP-based services, as well as continued soft overall demand for new installations due to sluggish employment rates and spending rationalization by business customers.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At Bell&nbsp;Media, advertising revenues were supported by the maintenance of strong audience levels for our conventional and specialty TV channels as evidenced by CTV, Bell&nbsp;Media&#146;s conventional television network, which held 13 of the top 20 programs nationally during the winter season. Bell&nbsp;Media specialty channels also continued to maintain high viewership levels, led by TSN which remained the leading specialty channel in all key demographics. However, consistent with a slow-growing and uncertain economy, advertising sales in conventional television were affected by a softer advertising market. Subscriber revenue growth was driven by higher rates charged to broadcast distributors through renegotiated agreements for certain Bell&nbsp;Media specialty sports and non-sports services, as well as continued solid specialty channel and digital results.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures at Bell&nbsp;increased &#36;165&nbsp;million, year over year, to &#36;680&nbsp;million this quarter, driven by the deployment of broadband fibre to residential homes, neighbourhoods and businesses in Ontario and Qu&eacute;bec, ongoing enhancement of Bell&#146;s core wireline broadband network to support the commercial roll-out of our IPTV service, speed and capacity enhancements to our IP backbone network infrastructure, as well as further deployment of a new 4G LTE network in urban markets.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For BCE, operating revenues grew 9.9% in Q1&nbsp;2012, while EBITDA increased 5.1%, mainly as a result of the acquisition of CTV and improved year-over-year performance at Bell&nbsp;Wireless as described above.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BCE&#146;s cash flows from operating activities were &#36;1,198&nbsp;million in the first three months of&nbsp;2012, compared to &#36;734&nbsp;million in the same three-month period last year. Free cash flow available to BCE&#146;s common shareholders increased to &#36;327&nbsp;million in Q1&nbsp;2012 from &#36;265&nbsp;million in Q1&nbsp;2011. The year-over-year improvement was attributable primarily to higher EBITDA and positive changes in working capital due, in part, to customer rebates paid under Bell&#146;s deferral account obligation in the first quarter of&nbsp;2011 that did not recur this year.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net earnings attributable to common shareholders increased 14.1% in Q1&nbsp;2012 to &#36;574&nbsp;million, or &#36;0.74 per share, compared to &#36;503&nbsp;million, or &#36;0.67 per share, in the same quarter last year. The year-over-year increase in earnings was due primarily to higher EBITDA and lower severance, acquisition and other costs. Adjusted net earnings per share<sup>3
</sup>(Adjusted EPS) was &#36;0.75 per common share in Q1&nbsp;2012, compared to &#36;0.72 per common share in the previous year. Increased EBITDA and a lower statutory tax rate year over year were offset partly by higher depreciation expense, increased interest expense attributable to long-term debt related to the CTV acquisition, and the dilutive impact of BCE&nbsp;common shares issued in relation to the CTV acquisition.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Bell&nbsp;Customer Connections</B></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD width="26%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="36%" colspan="6"
 style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p align="center">
<font face="Arial" size="1">
<B>NET ACTIVATIONS</B></font></TD>
	<TD width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="36%" colspan="6"
 style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p align="center">
<font face="Arial" size="1">
<B>TOTAL CONNECTIONS</B></font></TD>
</TR>
<TR valign="bottom">
	<TD width="26%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>MARCH 31,</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10%>
<font face="Arial" size="1">MARCH 31,</font></TD>
	<TD width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="26%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=center width="10%" style="border-bottom: 1px solid #000000">
<p align="right">
<font face="Arial" size="1">% CHANGE</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=center width="10%" style="border-bottom: 1px solid #000000">
<p align="right">
<font face="Arial" size="1">% CHANGE</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="26%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>NAS</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(96,530</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(59,243</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(63%</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>6,005,126</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">6,416,462</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(6.4%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD width="26%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Growth services portfolio:</font></TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=10%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="26%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Wireless</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(21,327</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">5,292</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">n.m.</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>7,406,155</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10%>
<font face="Arial" size="2">7,247,340</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">2.2%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="26%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">
<I>Postpaid</I></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<B><I>62,576</I></B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<I>80,648</I></font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<I>(22.4%</I></font></TD>
	<TD width=2%>
<font face="Arial" size="2">
<I>)</I></font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<B><I>6,037,742</I></B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10%>
<p style="margin-right: -2px">
<font face="Arial" size="2">
<I>5,622,017</I></font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<I>7.4%</I></font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="26%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">
<I>Prepaid</I></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<B><I>(83,903</I></B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B><I>) </I></B></font></TD>
	<TD align=right width="10%">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<I>(75,356</I></font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">
<I>)</I></font></TD>
	<TD align=right width="10%">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<I>(11.3%</I></font></TD>
	<TD width=2%>
<font face="Arial" size="2">
<I>)</I></font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<B><I>1,368,413</I></B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10%>
<p style="margin-right: -2px">
<font face="Arial" size="2">
<I>1,625,323</I></font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<p style="margin-right: -2px">
<font face="Arial" size="2">
<I>(15.8%</I></font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">
<I>)</I></font></TD>
</TR>
<TR valign="bottom">
	<TD width="26%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">High-speed Internet<SUP>(1)</SUP></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>12,393</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">13,161</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(5.8%</font></TD>
	<TD width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,104,192</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10%>
<font face="Arial" size="2">2,110,487</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(0.3%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD width="26%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">TV<SUP>(2)(3)</SUP></font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>17,623</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">8,058</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">n.m.</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,111,675</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">2,043,416</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">3.3%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="26%"
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Total growth services</B></font></TD>
	<TD align=right width="10%"
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>8,689</B></font></TD>
	<TD width=2%
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%"
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font face="Arial" size="2">26,511</font></TD>
	<TD align=left width=2%
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%"
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font face="Arial" size="2">(67.2%</font></TD>
	<TD width=2%

 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
	<TD width=2%
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%"
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>11,622,022</B></font></TD>
	<TD width=2%
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width=10%
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font face="Arial" size="2">11,401,243</font></TD>
	<TD width=2%
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%"
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font face="Arial" size="2">1.9%</font></TD>
	<TD align=left width=2%
 style="border-left: 0 solid #000000; border-right: 0 solid #000000; border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="100%" valign="top" colspan="2">
<font face="Arial" size="1">
<I>n.m.: not meaningful</I></font></td>
	</tr>
	<tr>
		<td width="2%" valign="top">
<i>
<font size="1" face="Arial">(1)</font></i></td>
		<td width="98%" valign="top">
<font face="Arial" size="1">
<I>At the beginning of&nbsp;2012, our high-speed Internet subscriber base was reduced
by 20,953 customers to reflect the decommissioning of our worldwide
interoperability for microwave access (WiMax) network and our decision to shut down our cable TV business in Montr&eacute;al in&nbsp;2012.</I></font></td>
	</tr>
	<tr>
		<td width="2%" valign="top">
<i>
<font size="1" face="Arial">(2)</font></i></td>
		<td width="98%" valign="top">
<font face="Arial" size="1">
<I>At the beginning of&nbsp;2012, our TV subscriber base was reduced by 9,527
customers following our decision to shut down our cable TV business in Montr&eacute;al
in&nbsp;2012.</I></font></td>
	</tr>
	<tr>
		<td width="2%" valign="top">
<I><FONT face="Arial" size="1">(3)</FONT></I></td>
		<td width="98%" valign="top">
<P align="left">
<font face="Arial" size="1">
<I>Our TV customer base was increased by 15,260 customers to include the cable
operations of Northwestel Inc. at the beginning of Q1&nbsp;2011.</I></font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>
<table border="0" width="10%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="100%" valign="top"
  style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
&nbsp;</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<i><font face="Arial" size="1">3</font></i></td>
		<td width="98%" valign="top">
<P align="left">
<font face="Arial" size="1">
<I>Adjusted net earnings and Adjusted EPS are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other companies. See </I>Non-GAAP Financial Measures &#150; Adjusted net earnings and Adjusted EPS <I>in this MD&amp;A for more details, including a reconciliation to the most comparable IFRS financial measure.</I></font></P>
		</td>
	</tr>
</table>
<p align="left">&nbsp;</p>






<p style="margin-top: 0; margin-bottom: 0"><b><font face="Arial" size="1">4</font></b><font size="1" face="Arial"><b> </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>






<P style="text-align: left;">
<font face="Arial" size="2">
<B>OTHER CORPORATE AND BUSINESS DEVELOPMENTS</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Acquisition of Astral</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">On March&nbsp;16,&nbsp;2012, BCE&nbsp;announced the signing of a definitive agreement to acquire all of the issued and outstanding shares of Montr&eacute;al-based Astral. Astral is a media company that operates specialty and pay television channels, radio stations, digital media properties and out-of-home advertising platforms in Qu&eacute;bec and across the rest of&nbsp;Canada.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BCE&nbsp;intends to acquire all Class A Non-Voting Shares of Astral for &#36;50 per share for a total consideration of approximately &#36;2.8 billion. BCE&nbsp;also intends to acquire all Class B Subordinate Voting Shares for &#36;54.83 per share, for a total consideration of approximately &#36;151&nbsp;million, and all Special Shares for a total consideration of &#36;50&nbsp;million.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transaction is valued at approximately &#36;3.38 billion, including net debt of &#36;380&nbsp;million, and is expected to be funded with a combination of cash (approximately 75% of the equity purchase price) and BCE&nbsp;common equity (approximately 25% or &#36;750&nbsp;million), with BCE&nbsp;retaining the right to replace common equity with cash, in whole or in part, at closing. The enterprise value represents an approximate multiple of 10 times estimated&nbsp;2012 EBITDA, consistent with similar recent media industry transactions, including Bell&#146;s acquisition of CTV in&nbsp;2011.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The acquisition is expected to be accretive to earnings and free cash flow per share, supporting both BCE&#146;s heavy capital investment in broadband network development, especially in Qu&eacute;bec, and the company&#146;s dividend growth objective. The transaction
will provide multiple other benefits for BCE&nbsp;and our strategy, including enhancing our competitive position in the French language media market, control over content costs, and increased opportunities for cross-platform innovation and advertising packages spanning digital, TV, radio and out-of-home advertising.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The agreement between BCE&nbsp;and Astral provides for a non-solicitation covenant on the part of Astral and a right in favour of BCE&nbsp;to match any superior proposal. If BCE&nbsp;does not exercise its right to match, we would receive a termination fee of &#36;100&nbsp;million. The transaction will be effected through a plan of arrangement and is subject to customary closing conditions, including court, shareholder and regulatory approvals. On April&nbsp;19,&nbsp;2012, the Qu&eacute;bec Superior Court issued an interim order providing for, among other things, the holding on May&nbsp;24,&nbsp;2012 of the special meeting of the shareholders of Astral to approve the proposed plan of arrangement. A reverse break fee of up to &#36;150&nbsp;million would be payable by BCE&nbsp;to Astral should the transaction not close for regulatory reasons. The transaction is expected to close in the second half of&nbsp;2012 at which time the Astral team will join the Bell&nbsp;Media business unit and Ian Greenberg, Astral&#146;s
current President and Chief Executive Officer (CEO), will join BCE&#146;s Board of Directors.</font></P>
<P style="text-align: left;">
<b><font face="Arial">Investment in MLSE </font></b></P>
<P style="text-align: left;">
<font face="Arial" size="2">On December 9, 2011, BCE announced it had, in a
joint ownership arrangement with Rogers Communications Inc. (Rogers), agreed to
purchase a net 75% ownership position in MLSE from Ontario Teachers&#146; Pension
Plan Board. BCE&#146;s cash commitment will total $525&nbsp;million (or $398&nbsp;million
assuming the completion of a leveraged recapitalization of MLSE), representing a
28% indirect equity interest in MLSE. Through a co-investment arrangement with
BCE, the BCE Master Trust Fund, an independent trust that holds and manages
pension fund investments for the BCE group pension plans, will contribute $135
million toward the MLSE acquisition. BCE and the BCE Master Trust Fund will own
on aggregate 37.5% interest in MLSE, equal to Rogers&#146; interest. On May 2,
2012, the Competition Bureau issued a no-action letter confirming that the
Commissioner of Competition did not, at this time, intend to challenge such
transaction. The transaction is expected to close in mid-2012 following
required Canadian Radio-television and Telecommunications Commission (CRTC) and
sports league approvals.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Launch of Bell&nbsp;Fibe service in Qu&#233;bec City</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">With an investment of more than &#36;225&nbsp;million to deploy fibre optic technology directly to homes and businesses, we launched our next-generation Bell&nbsp;Fibe service in Qu&eacute;bec City on March&nbsp;12,&nbsp;2012. This is the largest fibre-to-the-home (FTTH) rollout of its kind in&nbsp;Canada, supporting enhanced competition and choice in the Qu&eacute;bec market with the latest broadband TV, Internet and Home Phone services.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Expansion of 4G LTE mobile network</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In&nbsp;2012, we have expanded our next-generation
LTE mobile network and service to 9 more major cities across&nbsp;Canada, bringing the total number urban areas covered to 16. LTE service is now available to customers using compatible mobile devices in the Greater Toronto Area (GTA), Montr&eacute;al, Qu&eacute;bec City, Ottawa, London, Hamilton, Kitchener-Waterloo, Guelph, Peterborough, Belleville, Vancouver, Calgary, Edmonton, Halifax, Yellowknife and Whitehorse. Bell&#146;s 4G LTE network offers Internet and data access speeds as high as 75 megabits per second (Mbps), with typical speeds ranging between 12 and 25 Mbps, making it easier for users to download applications, stream high definition (HD) TV and music, play on-line games or conference and chat with virtually no delays or buffering. LTE complements Bell&#146;s HSPA+ network, which already serves more than 97% of the Canadian population. If Bell&nbsp;customers travel outside of the 4G LTE network coverage areas, they will move seamlessly from 4G LTE to HSPA+ with no disruption of service. We will continue to expand our 4G LTE coverage areas to more cities in&nbsp;2012 and introduce new 4G LTE-capable devices as they become available.</font></P>




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; </font><b><font face="Arial"
size="1">5</font></b></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>






<P style="text-align: left;">
<font face="Arial">
<B>New wireless service features</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In early March, we launched a newly enhanced Mobile TV player powered by&nbsp;Canada&#146;s QuickPlay Media. The new Bell&nbsp;Mobile TV player offers an improved user experience and innovative features such as an integrated programming guide, notification of special events and favourite shows with customizable alerts, ability to browse content while simultaneously watching a video, and automated suggestions to help discover new content faster.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally, at the end of February&nbsp;we introduced wireless HD voice, becoming the first national wireless carrier in North America to deploy this new technology. HD voice improves the customer experience by providing the clearest sound quality possible with significant noise reduction. HD voice is enabled on compatible handsets, including the HTC Sensation, HTC Incredible S, Nokia C6-00 and Nokia C6-01. To experience HD voice, both callers must be using a compatible Bell&nbsp;or Virgin Mobile handset.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsequent to the end of the quarter, on April&nbsp;24,&nbsp;2012, we introduced a new next generation, instant-contact Push-to-talk (PTT) service. Our PTT service operates on our national HSPA+ wireless network and will have North American roaming capabilities. A smartphone application is available to allow for PTT functionality on a number of devices, including the BlackBerry Curve 9360, the Samsung Galaxy S II 4G superphone and the Sonim XP5520 BOLT.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Bell&nbsp;wins naming rights to new sports and cultural complex</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">During the quarter, we obtained the naming rights to a new sports and cultural complex to be constructed in Laval, Qu&eacute;bec by 2014. The new facility will be called Place Bell&nbsp;and will include an amphitheatre that will accommodate up to 10,000 spectators for concerts, hockey games and other events.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Completion of normal course issuer bid (NCIB) program</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">On December&nbsp;8,&nbsp;2011, BCE&nbsp;announced a NCIB program under which BCE&nbsp;could purchase for cancellation up to 6.5&nbsp;million common shares, subject to a maximum aggregate purchase price of &#36;250&nbsp;million, during the twelve-month period starting December&nbsp;12,&nbsp;2011 and ending on December&nbsp;11,&nbsp;2012. On March&nbsp;12,&nbsp;2012, BCE&nbsp;completed its NCIB program, having repurchased and cancelled 6,104,905 common shares, at an average price of &#36;40.95 per share, for a total cost of &#36;250&nbsp;million, 2,080,000 of which were purchased by way of private agreement with an arm&#146;s-length third-party seller.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Industry&nbsp;Canada sets 700 megahertz (MHz) spectrum auction policy</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In March&nbsp;2012, Industry&nbsp;Canada released its decision on a policy and technical framework for licensing 700 MHz spectrum. Rather than a spectrum set-aside, as it employed in the&nbsp;2008 advanced wireless services (AWS) auction, Industry&nbsp;Canada will implement spectrum caps in the 700 MHz spectrum auction. The spectrum cap will limit Bell, and other larger licensees, to obtaining only one of the four paired spectrum blocks that line up with the 700 MHz spectrum holdings of the two largest wireless service providers in the U.S. Additional rural deployment requirements will apply, applicable in any area where a carrier has access to two or more paired blocks of spectrum.</font></P>
<P style="text-align: left;">
&nbsp;</P>






<p style="margin-top: 0; margin-bottom: 0"><b><font face="Arial" size="1">6</font></b><font size="1" face="Arial"><b> </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
<font face="Arial" size="4">
<B>Quarterly Financial Information</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">BCE&#146;s&nbsp;2012 first quarter interim condensed financial report was prepared in accordance with International Financial Reporting Standards (IFRS) under International Accounting Standard (IAS) 34 &#150; Interim Financial Reporting.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table shows selected consolidated financial data of BCE, prepared in accordance with IFRS, for the eight most recently completed quarters.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="19%" style="border-top: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp;&nbsp;2011</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000">
<font face="Arial" size="1">2010</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">Q4</font></TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">Q3</font></TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">Q2</font></TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">Q1</font></TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">Q4</font></TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">Q3</font></TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">Q2</font></TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%" style="border-top: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating revenues</font></TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,909</B></font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">5,166</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">4,910</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">4,955</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">4,466</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">4,679</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">4,517</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">4,440</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">EBITDA<SUP>(1)</SUP></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,927</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,869</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,941</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,986</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,833</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,748</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,841</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,843</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(19</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(130</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(219</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(61</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(86</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(129</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(15</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Depreciation</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(644</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(661</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(628</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(638</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(611</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(607</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(600</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(595</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Amortization</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(181</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(181</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(180</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(183</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(179</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(193</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(181</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(183</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">573</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">736</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">683</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">344</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">482</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">630</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings attributable to common shareholders</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>574</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">486</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">642</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">590</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">503</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">318</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">454</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">605</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings per common share</font></TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Basic</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.74</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.62</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.83</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.76</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.67</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.42</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.60</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.80</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Diluted</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.74</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.62</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.83</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.76</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.67</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.42</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.60</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.80</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Included in net earnings:</font></TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(14</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">2</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(82</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(162</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(40</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(67</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(91</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(6</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Net gains on investments</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>8</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">89</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">8</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Fair value adjustment on fund unit liability</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(58</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(56</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">16</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Adjustment to reflect interest on fund unit liability as non-controlling interest</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(3</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(10</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(8</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Adjusted net earnings<SUP>(1)</SUP></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>580</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">484</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">724</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">663</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">543</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">446</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">611</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">595</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Adjusted EPS<SUP>(1)</SUP></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.75</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.62</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.93</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.86</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.72</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.59</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.81</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">0.78</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="19%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Average number of common shares outstanding &#150; basic (millions)</font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>774.3</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">778.1</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">777.6</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">776.6</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">752.9</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">754.1</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">756.7</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">759.7</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<i>
<font size="1" face="Arial">(1)</font></i></td>
		<td width="98%" valign="top">
<font face="Arial" size="1">
<I>EBITDA, Adjusted net earnings and Adjusted EPS are non-GAAP financial measures. See Non-GAAP Financial Measures &#150; EBITDA and Adjusted net earnings and adjusted EPS in this MD&amp;A for more details, including, for Adjusted net earnings and Adjusted EPS, a reconciliation to the most comparable IFRS financial measures.</I></font></td>
	</tr>
</table>




<p align="right">
&nbsp;</p>
<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>7</b></font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>
<p style="margin-top: 0; margin-bottom:0" align="left">
&nbsp;</p>






<P style="text-align: left;">
<font face="Arial" size="4">
<B>Financial Results Analysis</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>This section provides detailed information and analysis about our performance in Q1&nbsp;2012 compared with Q1&nbsp;2011. It focuses on our consolidated operating results and provides financial information for each of our operating segments.</I></font></P>
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>CONSOLIDATED ANALYSIS</B></font></p>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom:1px solid #000000; ">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom:1px solid #000000; "
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD align=left width=2% style="border-bottom:1px solid #000000; "
 bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom:1px solid #000000; ">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD align=left width=2% style="border-bottom:1px solid #000000; ">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=center width="10%" style="border-bottom:1px solid #000000; ">
<p align="right">
<font face="Arial" size="1">% CHANGE</font></TD>
	<TD align=left width=2% style="border-bottom:1px solid #000000; ">
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Operating revenues</B></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,909</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4,466</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">9.9%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating costs</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(2,982</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(2,633</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(13.3%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-top: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>EBITDA</B></font></TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,927</B></font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">1,833</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">5.1%</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(19</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(61</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">68.9%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Depreciation</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(644</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(611</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(5.4%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Amortization</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(181</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(179</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(1.1%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Finance costs</font></TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest expense</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(204</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(191</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(6.8%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest on employee benefit obligations</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(243</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(242</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(0.4%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected return on pension plan assets</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>267</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">254</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">5.1%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other expense</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(20</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(22</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">9.1%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-top: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Earnings before income taxes</B></font></TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>883</B></font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">781</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">13.1%</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Income taxes</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(207</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(199</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(4.0%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-top: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Net earnings</B></font></TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">16.2%</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-top: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Net earnings attributable to:</B></font></TD>
	<TD align=left width="10%" style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Common shareholders</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>574</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">503</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">14.1%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Preferred shareholders</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>35</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">29</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">20.7%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Non-controlling interest</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>67</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">50</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">34.0%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-top: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Net earnings</B></font></TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-top: 1px solid #000000">
<font face="Arial" size="2">16.2%</font></TD>
	<TD align=left width=2% style="border-top: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%"
 style="border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Earnings per share (EPS)</B></font></TD>
	<TD align=right width="10%"
 style="border-top: 1px solid #000000; border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.74</B></font></TD>
	<TD align=left width=2%
 style="border-top: 1px solid #000000; border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%"
 style="border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">0.67</font></TD>
	<TD align=left width=2%
 style="border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%"
 style="border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">10.4%</font></TD>
	<TD align=left width=2%
 style="border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Adjusted EPS</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.75</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">0.72</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">4.2%</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial">
<B>Operating Revenues</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Total operating revenues for BCE&nbsp;were &#36;4,909&nbsp;million in the first quarter of&nbsp;2012, representing a 9.9% increase over operating revenues of &#36;4,466&nbsp;million in the first quarter of&nbsp;2011. Higher revenues at Bell&nbsp;drove the improvement in BCE&#146;s total operating revenues this quarter. Bell&nbsp;Aliant revenues this quarter remained unchanged year over year.<br>
&nbsp;&nbsp;&nbsp;&nbsp; Bell&#146;s operating revenues increased 11.6% in Q1&nbsp;2012 to &#36;4,333&nbsp;million from &#36;3,882&nbsp;million in Q1&nbsp;2011, due mainly to the acquisition of CTV. Additionally, higher revenue at Bell&nbsp;Wireless was offset by lower year-over-year revenue at our Bell&nbsp;Wireline segment, which excludes revenues from our portal business that are reported in our Bell&nbsp;Media segment as of Q2&nbsp;2011. Operating revenues for Bell&nbsp;in the first quarter of&nbsp;2012 were comprised of service revenues of &#36;3,936&nbsp;million, which were 13.3% higher than in the first quarter of&nbsp;2011, and product revenues of &#36;397&nbsp;million, which decreased 2.9% over last year.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Wireline revenues decreased 3.5% this quarter, due mainly to the continued decline in traditional voice and data revenues, as well as the impact of richer upfront promotional discounts and retention credits on residential service revenues as a result of aggressive competitive pricing on service bundle offers in the market. Growth in revenues from our TV and residential Internet services, higher IP broadband connectivity revenues and increased data product sales to our business customers moderated this decline.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Wireless&#146; revenues grew 5.5% in Q1&nbsp;2012 as a result of increased service revenues from a larger postpaid subscriber base and increased data usage that generated higher blended ARPU year over year.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Media&#146;s revenue in the first quarter of&nbsp;2012 was &#36;512&nbsp;million.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See <I>Segmented Analysis </I>for a discussion of operating revenues on a segmented basis.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Operating Costs</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Operating costs for BCE&nbsp;were &#36;2,982&nbsp;million in the first quarter of&nbsp;2012, up from &#36;2,633&nbsp;million in the first three months of&nbsp;2011. The year-over-year increase was the result of higher operating costs at Bell. Bell&nbsp;Aliant&#146;s operating costs were up slightly in Q1&nbsp;2012 to &#36;360&nbsp;million from &#36;354&nbsp;million in Q1&nbsp;2011, due mainly to higher TV costs consistent with growth in Bell&nbsp;Aliant&#146;s FibreOP TV subscriber base, increased marketing and sales expenses attributable to growth in FibreOP subscribers and increased FibreOP advertising, and higher cost of product sales.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&#146;s operating costs increased 14.8% to &#36;2,728&nbsp;million in Q1&nbsp;2012 from &#36;2,377&nbsp;million in Q1&nbsp;2011. The increase was due primarily to the acquisition of CTV and slightly higher wireless operating costs year over year, partly offset by lower operating costs at our Bell&nbsp;Wireline segment.</font></P>
<P style="text-align: left;">
&nbsp;</P>






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b>8 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
<font face="Arial" size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating costs at Bell&nbsp;Wireline decreased 3.2% this quarter to &#36;1,576&nbsp;million from &#36;1,628&nbsp;million in the first quarter of&nbsp;2011. The improvement was the result of reduced labour costs, lower cost of goods due to lower total wireline product revenues, lower operating taxes, decreased marketing and sales expenses, billing and IT-related cost savings from previously renegotiated vendor contracts, lower fleet management costs, as well as cost savings realized through efficiency-related productivity improvements.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Wireless&#146; operating costs were &#36;799&nbsp;million in Q1&nbsp;2012, up 1.1% compared to &#36;790&nbsp;million in Q1&nbsp;2011. The increase in operating costs can be attributed to higher payments to other carriers as a result of increased data roaming volume, higher wireless handset subsidies due to an increased number of smartphone sales and fewer unsubsidized upgrades year over year, as well as higher customer service costs to support a growing base of smartphone customers using more sophisticated data services and applications. These factors were offset largely by lower labour costs resulting from workforce reduction initiatives undertaken in&nbsp;2011 and higher network labour capitalization, as well as lower advertising and marketing costs.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Media&#146;s operating costs in the first quarter of&nbsp;2012 were &#36;431&nbsp;million. This amount included a non-cash charge of &#36;23&nbsp;million for amortization of the fair value of certain programming rights, which resulted from the allocation of the purchase price for CTV.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total pension current service cost at BCE&nbsp;increased to &#36;66&nbsp;million this quarter from &#36;59&nbsp;million in Q1&nbsp;2011. Pension current service cost at Bell&nbsp;totalled &#36;52&nbsp;million in Q1&nbsp;2012, up from &#36;44&nbsp;million in Q1&nbsp;2011. The increase was attributable to the impact of a lower discount rate used to value employee benefit obligations, as well as to incremental pension costs from the acquisition of CTV. Pension current service cost at Bell&nbsp;Aliant was &#36;14&nbsp;million this quarter compared to &#36;15&nbsp;million last year.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>EBITDA</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">EBITDA at BCE&nbsp;increased 5.1% in Q1&nbsp;2012 to &#36;1,927&nbsp;million from &#36;1,833&nbsp;million in Q1&nbsp;2011 due to higher EBITDA at Bell, offset partly by decreased EBITDA at Bell&nbsp;Aliant. BCE&#146;s EBITDA margin decreased to 39.3% this quarter from 41.0% last year.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&#146;s EBITDA was &#36;1,605&nbsp;million in the first quarter of&nbsp;2012, up 6.6% from &#36;1,505&nbsp;million in the first quarter of&nbsp;2011. This increase was driven by the acquisition of CTV and by improved year-over-year performance at Bell&nbsp;Wireless. Lower EBITDA at our Bell&nbsp;Wireline segment moderated the increase in Bell&#146;s EBITDA this quarter. Bell&#146;s EBITDA margin decreased to 37.0% in Q1&nbsp;2012 from 38.8% in Q1&nbsp;2011, due mainly to a year-over-year decrease in higher-margin wireline revenue and the inclusion of lower-margin Bell&nbsp;Media revenues in our operating results beginning in the second quarter of&nbsp;2011.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EBITDA at our Bell&nbsp;Wireline segment decreased 3.9% this quarter as lower operating costs were more than offset by a year-over-year decline in revenues as described above.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Wireless&#146; EBITDA increased 13.0% in Q1&nbsp;2012, due mainly to higher wireless operating revenues, disciplined management of postpaid customer acquisition and retention spending as well as control over marketing and selling expenses even as the level of competition intensity remained high.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Media&#146;s EBITDA was &#36;81&nbsp;million in Q1&nbsp;2012, which included &#36;23&nbsp;million amortization of fair value adjustments to certain programming rights recognized as part of the acquisition of CTV.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Aliant&#146;s EBITDA decreased 1.8% in Q1&nbsp;2012, due to slightly higher operating costs as operating revenues were virtually unchanged year over year.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See <I>Segmented Analysis </I>for a discussion of EBITDA on a segmented basis.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Severance, Acquisition and Other Costs</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We recorded severance, acquisition and other costs of &#36;19&nbsp;million in the first quarter of&nbsp;2012. These included: </font></P>
<ul>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">severance charges related to voluntary and involuntary workforce reduction initiatives of &#36;14&nbsp;million
	</font></P></li>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">acquisition and other costs of &#36;5&nbsp;million.</font></P>
	</li>
</ul>
<P style="text-align: left;">
<font face="Arial" size="2">We recorded severance, acquisition and other costs of &#36;61&nbsp;million in the first quarter of&nbsp;2011. These included: </font></P>
<ul>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">severance charges related to voluntary and involuntary workforce reduction initiatives of &#36;43&nbsp;million
	</font></P></li>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">acquisition and other costs of &#36;18&nbsp;million.</font></P>
	</li>
</ul>
<P style="text-align: left;">
<font face="Arial">
<B>Depreciation and Amortization</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Depreciation</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Depreciation of &#36;644&nbsp;million in the first quarter of&nbsp;2012 represented an increase of &#36;33&nbsp;million, or 5.4%, compared to &#36;611&nbsp;million for the same period last year, due to a higher depreciable asset base in&nbsp;2012 and incremental depreciation due to our acquisition of CTV on April&nbsp;1,&nbsp;2011.</font></P>
<P style="text-align: left;">
&nbsp;</P>




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; </font><b><font face="Arial"
size="1">9</font></b></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial">
<I>Amortization</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Amortization of &#36;181&nbsp;million in the first quarter of&nbsp;2012 increased when compared to &#36;179&nbsp;million for the same period last year, due to incremental amortization resulting from our acquisition of CTV on April&nbsp;1,&nbsp;2011, partly offset by a lower asset base in&nbsp;2012.
In addition, there was $23&nbsp;million of amortization expense included in operating
costs related to the fair value of certain programming rights, which resulted
from the allocation of the purchase price for CTV.</font></P>






<P style="text-align: left;">
<font face="Arial">
<B>Finance Costs</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Interest expense</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Interest expense of &#36;204&nbsp;million in the first quarter of&nbsp;2012 represented an increase of &#36;13&nbsp;million, or 6.8%, compared to &#36;191&nbsp;million in the first quarter of&nbsp;2011. The increase resulted from interest on higher average debt levels used to finance the CTV acquisition, partly offset by lower average interest rates.</font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Interest on employee benefit obligations</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Interest on employee benefit obligations of &#36;243&nbsp;million in the first quarter of&nbsp;2012 represented an increase of &#36;1&nbsp;million, or 0.4%, compared to &#36;242&nbsp;million for the same period in&nbsp;2011. Interest on a higher benefit obligation and the acquisition of CTV&#146;s benefit obligation on April&nbsp;1,&nbsp;2011 was offset largely by a lower discount rate used to value our employee benefit obligations because of a reduction in market interest rates.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Expected Return on Pension Plan Assets</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The expected return on pension plan assets of &#36;267&nbsp;million in the first quarter of&nbsp;2012 represented an increase of &#36;13&nbsp;million, or 5.1%, compared to &#36;254&nbsp;million for the same period last year. This increase was a result of higher assets in the pension plans in&nbsp;2012 due to a voluntary contribution of &#36;750&nbsp;million made to the pension plan in December&nbsp;2011 and our acquisition of CTV on April&nbsp;1,&nbsp;2011, partly offset by the decrease in the return on pension plan assets in&nbsp;2012.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Other Expense</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Other expense of &#36;20&nbsp;million in the first quarter of&nbsp;2012 represented a decrease of &#36;2&nbsp;million, or 9.1%, compared to &#36;22&nbsp;million for the same period last year. In Q1&nbsp;2012, net mark-to-market losses on economic hedges of &#36;23&nbsp;million were offset partly by a gain on investment of &#36;8&nbsp;million. In the first quarter of&nbsp;2011, other expense of &#36;22&nbsp;million resulted from the impairment of our Calgary Westwinds campus of &#36;21&nbsp;million.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Income Taxes</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Income taxes of &#36;207&nbsp;million in the first quarter of&nbsp;2012 represented an increase of &#36;8&nbsp;million, or 4.0%, compared to &#36;199&nbsp;million for the same period last year due to higher taxable income, partly offset by a lower corporate tax rate.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Net Earnings and EPS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Net earnings attributable to common shareholders for the first quarter of&nbsp;2012 was &#36;574&nbsp;million, or &#36;0.74 per common share, compared with net earnings of &#36;503&nbsp;million, or &#36;0.67 per common share, for the same period last year. The increase in&nbsp;2012 was a result of higher EBITDA, as a result of the acquisition of CTV, and lower severance, acquisition and other costs. These increases were partly offset by higher depreciation and interest expense.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excluding the impact of severance, acquisition and other costs, and net gains on investments, Adjusted net earnings was &#36;580&nbsp;million in the first quarter of&nbsp;2012, an increase of &#36;37&nbsp;million compared to &#36;543&nbsp;million for the same period last year. As a result, Adjusted EPS increased by 4.2% in Q1&nbsp;2012 to &#36;0.75 per common share from &#36;0.72 per common share in Q1&nbsp;2011.</font></P>
<P style="text-align: left;">
&nbsp;</P>






<p style="margin-top: 0; margin-bottom: 0"><b><font face="Arial" size="1">10</font></b><font size="1" face="Arial"><b> </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
<font face="Arial" size="2">
<B>SEGMENTED ANALYSIS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Our reporting structure reflects how we manage our business and how we classify our operations for planning and measuring performance.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">OPERATING REVENUES</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">% CHANGE</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp;&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Wireline</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,579</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">2,672</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(3.5%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Wireless</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,320</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,251</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">5.5%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Media</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>512</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">n.m.</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Inter-segment eliminations</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(78</B></font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(41</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(90.2%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,333</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">3,882</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">11.6%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Aliant</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>682</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">682</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.0%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Inter-segment eliminations</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(106</B></font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(98</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(8.2%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Total operating revenues</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,909</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">4,466</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">9.9%</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<P style="MARGIN:0px">&nbsp;</P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">EBITDA</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">% CHANGE</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Wireline</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,003</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,044</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(3.9%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Wireless</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>521</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">461</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">13.0%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Media</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>81</B></font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">n.m.</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp;&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,605</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,505</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">6.6%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Aliant</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>322</B></font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">328</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(1.8%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Total EBITDA</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,927</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">1,833</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">5.1%</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
</TABLE>

<p style="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</p>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="100%" valign="top">
<font face="Arial" size="1">
<I>n.m.: not meaningful</I></font></td>
	</tr>
</table>
<P style="text-align: left;">
<font face="Arial">
<B>Bell&nbsp;Wireline Segment</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Bell&nbsp;Wireline Revenue</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Starting in the first quarter of&nbsp;2012, we have included TV
service revenues in data revenues to align with the reporting practices of our peers. As a result, we have restated prior period results within Bell&nbsp;Wireline. The previously reported
Wireline segment and consolidated results did not change as a result of this restatement.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">BELL WIRELINE REVENUE</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=center width="10%" style="border-bottom: 1px solid #000000">
<p align="right">
<font face="Arial" size="1">% CHANGE</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<font face="Arial" size="2">Local and access</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>678</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">729</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(7.0%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<font face="Arial" size="2">Long distance</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>212</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">234</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(9.4%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<font face="Arial" size="2">Data</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,418</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,415</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.2%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">Equipment &amp; other</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>192</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">219</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(12.3%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<font face="Arial" size="2">Total external revenues</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,500</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">2,597</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(3.7%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">Inter-segment revenues</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>79</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">75</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">5.3%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">
<B>Total Bell&nbsp;Wireline revenue</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,579</B></font></TD>
	<TD width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">2,672</font></TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(3.5%</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial" size="2">Bell&nbsp;Wireline revenues totalled &#36;2,579&nbsp;million in the first quarter of&nbsp;2012, down 3.5% from &#36;2,672&nbsp;million in the first quarter of&nbsp;2011. Year-over-year revenue declines of &#36;51&nbsp;million in local and access, &#36;22&nbsp;million in long distance and &#36;27&nbsp;million in equipment and other were offset partly by a &#36;3&nbsp;million increase in data revenue.</font></P>
<P style="text-align: left;">
<font face="Arial">Local and access</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Local and access revenues declined 7.0% in Q1&nbsp;2012 to &#36;678&nbsp;million from &#36;729&nbsp;million in Q1&nbsp;2011. The decrease reflects ongoing residential NAS erosion attributable to competition, matching of competitive pricing offers in the marketplace, and technological substitution to wireless and Internet-based services. The year-over-year decline also reflects a reduction in business voice access lines as a result of technological substitution to data services and competition, as well as repricing pressures within all of our business markets. The favourable impact of price increases moderated the decline in local and access revenues in Q1&nbsp;2012.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our total NAS net losses in Q1&nbsp;2012 were 96,530, compared to net losses of 59,243 in Q1&nbsp;2011, reflecting a higher number of residential and business NAS line losses year over year. The results for the first quarter of&nbsp;2011 reflected the favourable impact of wholesale residential and business customer migrations from a cable competitor via a third-party reseller of telecommunications services, which began in Q4&nbsp;2010 and were completed substantially in Q2&nbsp;2011. Excluding the impact of this third-party reseller, our combined residential and business NAS net losses increased slightly to 89,699 this quarter from 87,694 in the first quarter last year.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential NAS line losses increased 10.6% in Q1&nbsp;2012 to 71,119 from 64,287 in Q1&nbsp;2011, primarily as a result of wholesale customer losses to competitors incurred by the aforementioned third-party reseller of telecommunications services. Excluding the impact of this third-party reseller, our residential NAS line losses improved 3.4%, year over year, to 66,999 this quarter compared to 69,391 last year. Residential NAS continued to be affected by customer losses to cable TV competitors due to their aggressive service bundle pricing and promotional activities, as well as by increasing wireless and Internet-based technology substitution.</font></P>
<P style="text-align: left;">
&nbsp;</P>




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>11</b></font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
&nbsp;</P>






<P style="text-align: left;">
<font face="Arial" size="2">However, the improvement in residential access line losses year over year can be attributed to the positive pull-through effect of service bundle offers including our Fibe TV and Fibe Internet services which have gained traction since launching in areas of Toronto and Montr&eacute;al in&nbsp;2010, competitive retention offers and customer winbacks.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business NAS line losses totalled 25,411 in Q1&nbsp;2012, compared to a net gain of 5,044 in Q1&nbsp;2011. The year-over-year increase in access line losses reflects the continuing trend of increased competition in the mass and mid-sized business markets, ongoing conversion of voice lines to IP-based services, and continued soft overall demand for new installations due to sluggish employment rates and spending rationalization by business customers. Customer losses experienced by the aforementioned third-party reseller of telecommunications services also contributed to the increase in business NAS line losses this quarter. Excluding the impact of this third-party reseller, our business NAS line losses were 22,700 in Q1&nbsp;2012 compared to 18,303 in Q1&nbsp;2011.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At March&nbsp;31,&nbsp;2012, our combined residential and business NAS customer base totalled 6,005,126 lines (comprised of 3,205,002 residential lines and 2,800,124 business lines), compared to 6,416,462 lines (comprised of 3,544,600 residential lines and 2,871,862 business lines) at the end of the first quarter of&nbsp;2011. This corresponds to an annualized rate of NAS erosion of 6.4% in Q1&nbsp;2012 compared to 5.1% in Q1&nbsp;2011, which was comprised of residential and business NAS erosion rates of 9.6% and 2.5%, respectively, compared to 7.0% and 2.7%, respectively, in the first quarter of&nbsp;2011.</font></P>
<P style="text-align: left;">
<font face="Arial">Long distance</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Long distance revenues were &#36;212&nbsp;million in the first three months of&nbsp;2012, down 9.4% from &#36;234&nbsp;million in the first quarter of&nbsp;2011. The year-over-year decline reflected fewer minutes of use by residential and business customers resulting from NAS line losses and technology substitution to wireless calling and IP-based services, ongoing toll competition and rate pressures in our business markets, as well as the continuing shift by residential customers from per-minute rate plans to unlimited or high-usage packages for a set monthly price. Increased sales of global long distance minutes and the positive impact of price increases moderated the overall rate of long distance revenue erosion in Q1&nbsp;2012.</font></P>
<P style="text-align: left;">
<font face="Arial">Data</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Beginning in the first quarter of&nbsp;2012, we began including revenue generated from Bell&#146;s TV services in wireline data revenues. This change aligns our reporting of operating revenues with our Canadian and U.S. peers. Prior periods have been restated to make year-over-year comparisons consistent.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data revenues were &#36;1,418&nbsp;million in the first three months of&nbsp;2012, up slightly from &#36;1,415&nbsp;million in the first quarter of&nbsp;2011. During the quarter, we experienced higher residential Internet service revenues, driven primarily by a larger subscriber base and a greater proportion of customers subscribing to Bell&nbsp;Fibe Internet packages year over year, growth in TV, higher IP broadband connectivity revenues, and increased data product sales primarily to large enterprise customers in the government sector. These increases were offset largely by a continued decline in legacy data revenues attributable to ongoing business customer migration to IP-based systems, competitive losses, pricing pressures in our business and wholesale market segments and a lower volume of digital network access circuits in use by our business customers reflecting low levels of growth in the economy. Additionally, data revenues were impacted negatively by the Sympatico.ca portal revenues, which are reported in our Bell&nbsp;Media segment starting in Q2&nbsp;2011.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We added 12,393 net high-speed Internet customers in the first quarter of&nbsp;2012, compared to 13,161 in the first three months of&nbsp;2011. Although high-speed Internet net activations were relatively stable year over year, the result this quarter represents an improvement over the previous few quarters, reflecting the pull-through effect of Fibe TV customer activations, continued broadband fibre service expansion, as well as fewer business and wholesale customer deactivations. At March&nbsp;31,&nbsp;2012, our total number of high-speed Internet connections was 2,104,192, compared to 2,110,487 one year earlier. The figure for Q1&nbsp;2012 includes a beginning-of-year adjustment to reduce our subscriber base by 20,953 customers to reflect the decommissioning of our WiMax network and our decision to shut down our cable TV business in Montr&eacute;al in&nbsp;2012. The market for these Internet services is declining over time as customers migrate to newer fibre-optic based wireline and wireless technologies. The subscriber base adjustment did not impact net subscriber activations this quarter.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We added 17,623 net TV subscribers in Q1&nbsp;2012, up from 8,058 net activations in Q1&nbsp;2011. TV subscriber acquisition this quarter was fuelled by increased sales of Fibe TV, reflecting increasing customer demand as we further expanded our IPTV service footprint and enhanced our service bundle offers in many urban markets to include Fibe TV and Fibe Internet services. This was moderated by lower satellite TV net activations, due to roll-outs of IPTV service by other competing service providers, aggressive customer conversion offers from cable TV competitors, and Bell&nbsp;customer migrations to Fibe TV. At March&nbsp;31,&nbsp;2012, our TV subscriber base totalled 2,111,675, representing a 3.3% increase since the end of the first quarter of&nbsp;2011. This figure includes a beginning-of-year subscriber base adjustment to write-off 9,527 cable TV customers following our decision to shut down our cable TV business in Montr&eacute;al in&nbsp;2012. We continue to offer TV service in the affected areas of Montr&eacute;al through our satellite TV platform or Fibe TV. The subscriber base adjustment did not impact net subscriber activations this quarter.</font></P>
<P style="text-align: left;">
&nbsp;</P>






<p style="margin-top: 0; margin-bottom: 0"><b><font face="Arial" size="1">12</font></b><font size="1" face="Arial"><b> </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
<font face="Arial">Equipment &amp; other</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Equipment and other revenues decreased 12.3% in Q1&nbsp;2012 to &#36;192&nbsp;million from &#36;219&nbsp;million in Q1&nbsp;2011. The year-over-year decline was due mainly to lower legacy telecommunications equipment sales, promotional offers at Bell&nbsp;TV that reduced the average retail price of our premium TV set-top boxes (STBs), a higher proportion of TV STB rentals this quarter compared to last year, and lower consumer electronics equipment sales at The Source (Bell) Electronics&nbsp;Inc. (The Source).</font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Bell&nbsp;Wireline EBITDA</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">EBITDA for our Bell&nbsp;Wireline segment was &#36;1,003&nbsp;million in the first quarter of&nbsp;2012, down 3.9% from &#36;1,044&nbsp;million in the first three months of&nbsp;2011. This corresponded to an EBITDA margin of 38.9% this quarter, compared to 39.1% in Q1&nbsp;2011.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The year-over-year decrease in Bell&nbsp;Wireline EBITDA this quarter was due to lower operating revenues as described above, partly offset by lower operating costs which improved 3.2% to &#36;1,576&nbsp;million in Q1&nbsp;2012 from &#36;1,628&nbsp;million in Q1&nbsp;2011. The year-over-year reduction in wireline operating costs was due primarily to: </font></P>
<ul>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">a decline in labour costs due to a reduced workforce and decreased use of outsourced labour and contractors
	</font></P></li>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">lower cost of goods sold due to a decrease in total wireline product revenues
	</font></P></li>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">IT savings from reduced contract maintenance costs, as well as lower print and mailing costs for customer billing
	</font></P></li>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">lower operating taxes </font></P></li>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">decreased marketing and sales expenses, including advertising
	</font></P></li>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">lower fleet management costs </font></P></li>
	<li>
	<P style="text-align: left; margin-top:0; margin-bottom:0">
	<font face="Arial" size="2">other efficiency gains resulting from productivity and ongoing service improvements in both our field operations and residential services call centres.</font></P>
	</li>
</ul>
<P style="text-align: left;">
<font face="Arial" size="2">Higher cost of revenue resulting from increased sales of global long distance minutes, increased content and support costs to grow and manage Fibe TV, higher bad debt expense, as well as higher pension current service costs, partly offset the improvement in Bell&nbsp;Wireline operating costs this quarter.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Bell&nbsp;Wireless Segment</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Bell&nbsp;Wireless Revenue</I></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">BELL WIRELESS REVENUE</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=center width="10%" style="border-bottom: 1px solid #000000">
<p align="right">
<font face="Arial" size="1">% CHANGE</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Service</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,214</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,145</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">6.0%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Product</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>94</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">99</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(5.1%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total external revenues</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,308</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,244</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">5.1%</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Inter-segment revenues</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>12</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">7</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">71.4%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Total Bell&nbsp;Wireless revenue</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,320</B></font></TD>
	<TD width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">1,251</font></TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">5.5%</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial" size="2">Bell&nbsp;Wireless operating revenues, comprised of network service and product revenues, increased 5.5% in the first quarter of&nbsp;2012 to &#36;1,320&nbsp;million from &#36;1,251&nbsp;million in the first quarter of&nbsp;2011.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wireless service revenue was up 6.0% in Q1&nbsp;2012 to &#36;1,214&nbsp;million from &#36;1,145&nbsp;million in Q1&nbsp;2011. The year-over-year increase was the result of growth in wireless data usage and revenue from postpaid subscriber growth and accelerated smartphone adoption, which contributed to higher blended ARPU. Wireless data revenue was 31% higher this quarter compared to Q1&nbsp;2011, while wireless voice revenue decreased 3.2% year over year. Wireless service revenue in Q1&nbsp;2012 continued to be impacted negatively by richer rate plan offers, as well as increased customer acquisition credits and loyalty discounts offered on contract renewals in light of ongoing competitive pressure to lower prices.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Product revenue decreased 5.1% in the first quarter of&nbsp;2012 to &#36;94&nbsp;million from &#36;99&nbsp;million in the same quarter in&nbsp;2011, despite a higher year-over-year sales mix of more expensive smartphones including device upgrades, mainly as a result of lower volumes.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blended ARPU was &#36;53.84 in Q1&nbsp;2012, up 4.2% compared to &#36;51.68 in Q1&nbsp;2011. Growth in blended ARPU was primarily the result of increasing data usage reflecting a greater percentage of higher-value postpaid customers using smartphones in our subscriber base year over year, partly offset by declining voice ARPU. Data ARPU growth of 28% in Q1&nbsp;2012 reflected increased use of e-mail, wireless Internet, text messaging and other mobile applications, as well as increased adoption of data plans driven by increased penetration of smartphones and other data devices such as tablets. Voice ARPU declined 4.9% this quarter, mainly as a result of competitive pricing pressures and lower usage by customers increasingly substituting for data features and services. The voice ARPU decline also reflects increased use by customers of included-minute rate plans.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Postpaid gross activations totalled 293,572 this quarter compared to 299,657 in the first quarter of&nbsp;2011. The 2.0% year-over-year decrease in postpaid gross activations mainly reflected our disciplined focus on balancing subscriber growth with profitability as well as aggressive acquisition offers targeted particularly at lower-value subscribers from both new entrants and incumbent operators&#146; discount brands. Increased competitive intensity was evident in price competition and more unlimited-usage rate plan offers featuring low-priced devices. As a result of our continued focus on acquiring higher-value postpaid customers, the percentage of subscribers with smartphones increased to 52% of our overall postpaid subscriber base at March&nbsp;31,&nbsp;2012, </font></P>
<P style="text-align: left;">
&nbsp;</P>




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>1</b></font><b><font
face="Arial" size="1">3</font></b></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="2">compared to 34% one year earlier. These subscribers typically generate significantly higher ARPU and have lower churn rates than those with messaging and voice-only mobile devices.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid gross activations decreased 23.8% in Q1&nbsp;2012 to 94,574 from 124,142 in Q1&nbsp;2011, due primarily to aggressive acquisition offers from the newer wireless entrants for lower-value subscribers.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total gross wireless activations in Q1&nbsp;2012 decreased 8.4% to 388,146 from 423,799 in Q1&nbsp;2011, due mainly to fewer prepaid gross activations.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our blended churn rate decreased to 1.8% in the first quarter of&nbsp;2012 from 1.9% in the first quarter of&nbsp;2011, due to a greater percentage of postpaid subscribers in our subscriber base, year over year, as postpaid wireless service typically has lower customer churn than prepaid wireless service. Postpaid churn in Q1&nbsp;2012 was stable year over year at 1.4%, while prepaid churn increased to 3.9% from 3.7% in Q1&nbsp;2011, due to a high level of competitive intensity, particularly at the low end of the consumer market, reflecting richer acquisition offers that include unlimited voice and data usage rate plans and deeply discounted handsets.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Postpaid net activations totalled 62,576 this quarter, down from 80,648 in Q1&nbsp;2011, as a result of fewer gross activations compared to last year. Prepaid net customer losses increased to 83,903 in Q1&nbsp;2012 from 75,356 in Q1&nbsp;2011 as a result of fewer gross activations and higher churn year over year. At March&nbsp;31,&nbsp;2012, we provided service to 7,406,155 wireless subscribers, representing a 2.2% increase since the end of Q1&nbsp;2011.</font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Bell&nbsp;Wireless EBITDA</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Our Bell&nbsp;Wireless segment reported EBITDA of &#36;521&nbsp;million in the first quarter of&nbsp;2012, up 13.0% from &#36;461&nbsp;million in the first three months of&nbsp;2011. This increase was mainly the result of higher wireless operating revenues as described above, partly offset by slightly higher operating costs year over year. Bell&nbsp;Wireless&#146; EBITDA margin as a percentage of wireless service revenue increased to 42.9% in Q1&nbsp;2012 from 40.3% in Q1&nbsp;2011. The year-over-year improvement in wireless EBITDA margin resulted from disciplined control over subscriber acquisition and customer retention spending in combination with solid service revenue growth.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Wireless operating costs remained relatively stable year over year, increasing only 1.1% in Q1&nbsp;2012 to &#36;799&nbsp;million from &#36;790&nbsp;million in Q1&nbsp;2011. The increase in operating costs can be attributed to higher payments to other carriers as a result of increased data roaming volume, as well as higher wireless handset subsidies due to an increased number of smartphone sales and fewer unsubsidized upgrades year over year. Other increases resulted from higher bad debt expense and higher customer service costs to support a growing base of smartphone customers using more sophisticated data services and applications. These factors were offset largely by lower labour costs resulting from workforce reduction initiatives undertaken in&nbsp;2011 and higher network labour capitalization due to our LTE network build, as well as lower advertising and marketing costs.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wireless cost of acquisition (COA) per gross activation increased 9.0% in Q1&nbsp;2012 to &#36;399 from &#36;366 in Q1&nbsp;2011. This increase was due mainly to higher per-unit handset subsidies driven by a higher proportion of postpaid and smartphone customer activations this quarter compared to the first quarter of&nbsp;2011, more aggressive handset pricing in the market and higher commissions due to a higher smartphone mix. This was partly offset by the favourable impact of disciplined spending on advertising.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Bell&nbsp;Media Segment</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Bell&nbsp;Media Revenue</I></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="88%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">BELL MEDIA REVENUE</font></TD>
	<TD width="10%" align="right" bgcolor="#C0C0C0"
 style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp;
<B>Q1&nbsp;2012</B></font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0"
 style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<font face="Arial" size="2">Total external revenues</font></TD>
	<TD width="10%" align="right" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>478</B></font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">Inter-segment revenues</font></TD>
	<TD width="10%" align="right" bgcolor="#C0C0C0"
 style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp;
<B>34</B></font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0"
 style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">
<B>Total Bell&nbsp;Media revenue</B></font></TD>
	<TD width="10%" align="right" bgcolor="#C0C0C0"
 style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp;
<B>512</B></font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0"
 style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="2">Bell&nbsp;Media&#146;s operating revenue was &#36;512&nbsp;million this quarter, driven by the significant contribution of advertising sales across its television, radio and digital media properties both locally and nationally, as well as subscriber fees payable by broadcast distributors for carrying Bell&nbsp;Media&#146;s pay, pay-per-view and specialty TV services.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising revenue reflected solid demand across many industry sectors, supported by the maintenance of strong audience levels across Bell&nbsp;Media&#146;s conventional and specialty TV channels. However, consistent with a slow-growing and uncertain economy, advertising sales particularly in conventional television were impacted adversely by continuing soft advertising markets. CTV, Bell&nbsp;Media&#146;s conventional television network, held 13 of the top 20 programs nationally in the winter season among all viewers, while the Bell&nbsp;Media family of websites streamed more than 186&nbsp;million video views and welcomed 14.7&nbsp;million unique visitors on average each month, serving up 30&nbsp;million hours of video and a total of 1.9 billion page views in Q1&nbsp;2012.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscriber revenues this quarter reflected higher rates charged to broadcast distributors for Bell&nbsp;Media specialty sports and non-sports services, as well as continued solid specialty channel and digital results. Digital subscriber revenue was driven by the introduction, on April&nbsp;1,&nbsp;2011, of an enhanced Mobile TV service featuring live and on-demand access to expanded content from CTV, TSN, RDS, BNN, MTV and other top brands in Canadian news, sports and entertainment from Bell&nbsp;Media.</font></P>
<P style="text-align: left;">
&nbsp;</P>






<p style="margin-top: 0; margin-bottom: 0"><b><font face="Arial" size="1">14</font></b><font size="1" face="Arial"><b> </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
<font face="Arial">
<I>Bell&nbsp;Media EBITDA</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Bell&nbsp;Media&#146;s EBITDA was &#36;81&nbsp;million in the first quarter of&nbsp;2012, which included &#36;23&nbsp;million of amortization for fair value adjustments to certain programming rights recognized as part of the acquisition of CTV.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Media&#146;s operating costs totalled &#36;431&nbsp;million this quarter. This result reflected reduced labour, general and administrative, and sales and marketing expenses, as well as cost synergies from CTV&#146;s integration into Bell, offset by increased content costs which included the amortization of fair value adjustments to programming rights.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Bell&nbsp;Aliant Segment</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Bell&nbsp;Aliant Revenue</I></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">BELL ALIANT REVENUE</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=center width="10%" style="border-bottom: 1px solid #000000">
<p align="right">
<font face="Arial" size="1">% CHANGE</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Local and access</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>293</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">308</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(4.9%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Long distance</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>82</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">90</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(8.9%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Data</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>189</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">172</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">9.9%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Wireless</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>22</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">21</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4.8%</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Equipment &amp; other</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>37</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">34</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">8.8%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total external revenues</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>623</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">625</font></TD>
	<TD width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(0.3%</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Inter-segment revenues</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>59</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">57</font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">3.5%</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Total Bell&nbsp;Aliant revenue</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>682</B></font></TD>
	<TD width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">682</font></TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">0.0%</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial" size="2">Bell&nbsp;Aliant revenues were &#36;682&nbsp;million in the first quarter of&nbsp;2012 and&nbsp;2011. The continued erosion of Bell&nbsp;Aliant&#146;s legacy voice business was offset by higher revenues from growth in Internet, data, TV and wireless, as well as higher equipment and other sales.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Local and access revenues decreased 4.9% in Q1&nbsp;2012 to &#36;293&nbsp;million from &#36;308&nbsp;million in Q1&nbsp;2011. This reduction was due to a 5.4% decline in the NAS customer base since the end of the first quarter of&nbsp;2011, reflecting competitive losses driven by aggressive pricing by competitors, as well as substitution for other services including wireless and voice over Internet protocol (VoIP). Programs targeted at retaining Bell&nbsp;Aliant&#146;s highest value customers and selected price increases that reflect the higher value provided by Bell&nbsp;Aliant&#146;s bundled packages moderated the impact of a declining NAS customer base on revenues. At March&nbsp;31,&nbsp;2012, Bell&nbsp;Aliant had 2,593,939 NAS lines, compared to 2,742,691 NAS one year earlier.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long distance revenues were &#36;82&nbsp;million in Q1&nbsp;2012, down 8.9% compared to &#36;90&nbsp;million in Q1&nbsp;2011. The decline was primarily the result of lower NAS, technology substitution to wireless calling and IP-based services, as well as customer migration from legacy per-minute plans to flat rate plans. The effects of these declines were partly offset by selective price increases.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data revenues increased 9.9% in Q1&nbsp;2012 to &#36;189&nbsp;million from &#36;172&nbsp;million in Q1&nbsp;2011. The year-over-year improvement was due mainly to higher Internet and IPTV revenues. Growth in Internet revenues was driven primarily by higher residential Internet ARPU resulting from increased customer demand for more bandwidth and premium services, price increases and a larger high-speed subscriber base. At March&nbsp;31,&nbsp;2012, Bell&nbsp;Aliant had 901,879 high-speed Internet subscribers compared to 877,728 subscribers one year earlier. Higher TV service revenues from growth in Bell&nbsp;Aliant&#146;s FibreOP TV customer base, as well as increased IP broadband connectivity revenues and growth in managed services sales to business customers in Atlantic&nbsp;Canada also contributed to higher data revenues this quarter.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wireless revenues totalled &#36;22&nbsp;million in Q1&nbsp;2012 compared to &#36;21&nbsp;million in Q1&nbsp;2011, due to subscriber and ARPU growth. At March&nbsp;31,&nbsp;2012, Bell&nbsp;Aliant had 137,600 wireless customers, an 8.9% increase since the end of Q1&nbsp;2011.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equipment and other revenues increased 8.8% in Q1&nbsp;2012 to &#36;37&nbsp;million from &#36;34&nbsp;million in Q1&nbsp;2011, due mainly to higher telephone pole rental revenues year over year and increased telecommunications equipment sales to business customers in Atlantic&nbsp;Canada.</font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Bell&nbsp;Aliant EBITDA</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">EBITDA at Bell&nbsp;Aliant decreased 1.8% in the first quarter of&nbsp;2012 to &#36;322&nbsp;million from &#36;327&nbsp;million in the first quarter of&nbsp;2011. The decline was driven by slightly higher operating costs, year over year, as operating revenues remained virtually unchanged as described previously.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell&nbsp;Aliant&#146;s operating costs were &#36;360&nbsp;million in Q1&nbsp;2012, compared to &#36;354&nbsp;million in Q1&nbsp;2011. The 1.7% year-over-year increase was due to higher TV costs as a result of IPTV content growth, increased marketing and sales expenses attributable to growth in FibreOP subscribers and increased FibreOP advertising, and higher cost of product sales. Lower labour costs from workforce reductions in&nbsp;2011, decreased operating taxes and reduced IT-related costs moderated higher operating costs at Bell&nbsp;Aliant this quarter.</font></P>
<P style="text-align: left;">
&nbsp;</P>




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; </font><b><font face="Arial"
size="1">15</font></b></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>






<P style="text-align: left;">
<font face="Arial" size="4">
<B>Financial and Capital Management</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>This section tells you how we manage our cash and capital resources to carry out our strategy and deliver financial results. It provides an analysis of our financial condition, cash flows and liquidity on a consolidated basis.</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>NET DEBT</B></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b><font face="Arial" size="1">MARCH 31,</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">DECEMBER 31,</font></TD>
	<TD align=left width=2%>
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Debt due within one year<SUP>(1)</SUP></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,386</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">2,106</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Long-term debt</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>12,682</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">12,721</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Preferred shares<SUP>(2)</SUP></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,698</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,558</font></TD>
	<TD align=left width=2%>
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash and cash equivalents</font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(397</B></font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">(175</font></TD>
	<TD align=left width=2% style="border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Net debt</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>16,369</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">16,210</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<i>
<font size="1" face="Arial">(1)</font></i></td>
		<td width="98%" valign="top">
<font face="Arial" size="1">
<I>Includes bank advances and notes payable and securitized trade receivables</I></font></td>
	</tr>
	<tr>
		<td width="2%" valign="top">
<i>
<font size="1" face="Arial">(2)</font></i></td>
		<td width="98%" valign="top">
<font face="Arial" size="1">
<I>Assumes 50% debt classification of outstanding preferred shares of &#36;3,395
million and &#36;3,115&nbsp;million at March&nbsp;31,&nbsp;2012 and December&nbsp;31,&nbsp;2011,
respectively, consistent with the treatment by certain credit rating agencies</I></font></td>
	</tr>
</table>
<P style="text-align: left;">
<font face="Arial" size="2">Net debt increased &#36;159&nbsp;million to &#36;16,369&nbsp;million in the first quarter of&nbsp;2012 due to an increase in debt due within one year and preferred shares, partly offset by a decrease in long-term debt and an increase in cash and cash equivalents.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The increase in debt due within one year and preferred shares is due to:</font></P>
<UL>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">increased borrowings in bank advances and notes payable of &#36;254&nbsp;million</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">the issuance of 11,200,000 BCE&nbsp;Cumulative Redeemable First Preferred Shares, Series AK (Series AK Preferred Shares) for total gross proceeds of &#36;280&nbsp;million.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial" size="2">The increase in cash and cash equivalents is due to free cash flow of &#36;327&nbsp;million and the issuance of Series AK Preferred Shares for &#36;280&nbsp;million, partly offset by cash dividends paid on common shares of &#36;403&nbsp;million.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>OUTSTANDING SHARE DATA</B></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>MARCH 31,</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">DECEMBER 31,</font></TD>
	<TD align=left width="2%">
<font size="1" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">
<I>(in&nbsp;millions)</I></font></TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD width=2% style="border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width="2%" style="border-bottom: 1px solid #000000">
<font size="1" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Common shares</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>773,599,807</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">775,444,200</font></TD>
	<TD align=left width="2%">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Stock options</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000"
 bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>5,996,745</B></font></TD>
	<TD width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2" face="Arial">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">4,027,309</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2" face="Arial">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="2">We had 773,599,807 common shares outstanding at March&nbsp;31,&nbsp;2012, a decrease of 1,844,393 shares from December&nbsp;31,&nbsp;2011, resulting from BCE&#146;s repurchase of 2,461,539 common shares for cancellation through the&nbsp;2011 NCIB program, partly offset by stock options that were exercised in Q1&nbsp;2012.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of stock options outstanding at March&nbsp;31,&nbsp;2012 was 5,996,745, an increase of 1,969,436 from December&nbsp;31,&nbsp;2011.
In the first three months of&nbsp;2012:</font></P>
<UL>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">2,635,084 options were granted at a weighted average exercise price of &#36;40</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">617,146 previously granted options were exercised</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">48,502 previously granted options expired or were forfeited.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial" size="2">The weighted average exercise price of the stock options outstanding at March&nbsp;31,&nbsp;2012 was &#36;37. Of the total outstanding stock options at March&nbsp;31,&nbsp;2012, 1,100,638 were exercisable at a weighted average exercise price of &#36;31.</font></P>
<P style="text-align: left;">
&nbsp;</P>






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b> 16 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
<font face="Arial" size="2">
<B>CASH FLOWS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The following table is a summary of our cash inflows and outflows.</font></P>
<DIV align="left">
<TABLE border=0 style="width:100%; border-collapse:collapse" id="table1" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1 2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1 2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">
<B>Cash flows from operating activities</B>&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,198</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">734</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Bell Aliant dividends / distributions paid to BCE&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>48</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">71</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(817</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>) </B>&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(634</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) &nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Cash dividends paid on preferred shares&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(33</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B>&nbsp; </font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(28</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)&nbsp; </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Cash dividends paid by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(79</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B>&nbsp; </font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(91</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)&nbsp; </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>25</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Bell Aliant free cash flow&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(15</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>) </B>&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">209</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">
<B>Free cash flow</B>&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>327</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">265</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Bell Aliant free cash flow, excluding dividends / distributions paid&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(33</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>) </B>&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(280</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) &nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(25</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B>&nbsp; </font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(4</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)&nbsp; </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Other investing activities&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>8</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">7</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Net issuance of debt instruments&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>180</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,450</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Issue of common shares&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>18</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">49</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Issue of preferred shares&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>280</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Issue of equity securities by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp; </font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">288</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Repurchase of common shares&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(107</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B>&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Cash dividends paid on common shares&nbsp;</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(403</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B>&nbsp; </font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(344</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">) &nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">Other financing activities&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(24</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B>&nbsp; </font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(30</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)&nbsp; </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px"><font face="Arial" size="2">
<B>Net increase in cash and cash equivalents</B>&nbsp;</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>222</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&nbsp;</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">1,401</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">&nbsp;</font></TD>
</TR>
</TABLE>
</DIV>

<P style="text-align: left;">
<font face="Arial">
<B>Cash Flows from Operating Activities</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Cash flows from operating activities were &#36;1,198&nbsp;million, an increase of &#36;464&nbsp;million, or 63%, compared to &#36;734&nbsp;million in the first quarter of&nbsp;2011. The increase was due to:</font></P>
<UL>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">a decrease of &#36;268&nbsp;million in pension contributions, due to a &#36;200&nbsp;million lump sum pension contribution made by Bell&nbsp;Aliant in the first quarter of&nbsp;2011 and lower contributions at Bell</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">a decrease of &#36;155&nbsp;million in severance and other costs paid due to amounts paid to residential home phone customers further to our CRTC deferral account obligation in the first quarter of&nbsp;2011</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">an increase in EBITDA, exclusive of pension current service costs of &#36;101&nbsp;million</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">an increase in working capital</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial" size="2">These increases were offset partly by higher income taxes paid for the three months ending March&nbsp;31,&nbsp;2012 amounting to &#36;96&nbsp;million.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Free Cash Flow</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Free cash flow was &#36;327&nbsp;million, an increase of &#36;62&nbsp;million compared to free cash flow of &#36;265&nbsp;million in the first quarter of&nbsp;2011. Higher cash flows from operating activities of &#36;464&nbsp;million were offset partly by a decrease in Bell&nbsp;Aliant free cash flow of &#36;224&nbsp;million and an increase in capital expenditures of &#36;183&nbsp;million.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Capital Expenditures</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Capital expenditures for BCE&nbsp;were &#36;817&nbsp;million in the first three months of&nbsp;2012, up from &#36;634&nbsp;million in the same three-month period last year, reflecting higher spending at both Bell&nbsp;and Bell&nbsp;Aliant. As a percentage of revenue, capital expenditures for BCE&nbsp;increased to 16.6% this quarter from 14.2% in Q1&nbsp;2011.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At Bell, capital expenditures increased &#36;165&nbsp;million, year over year, to &#36;680&nbsp;million in Q1&nbsp;2012 from &#36;515&nbsp;million in Q1&nbsp;2011, corresponding to a capital intensity ratio of 15.7% of revenue this year compared to 13.3% last year. The year-over-year increase was due to:</font></P>
<UL>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">the deployment of broadband fibre to existing residential homes and neighbourhoods, new housing developments, condominiums and other multiple-dwelling units (MDUs), as well as targeted businesses in Ontario and Qu&eacute;bec</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">grooming of Bell&#146;s core wireline broadband network to support the commercial roll-out of our IPTV service</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">ongoing construction of Bell&#146;s 4G LTE network in urban markets</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">wireless network capacity growth to accommodate increasing wireless data consumption</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">speed and capacity enhancements to our IP backbone network infrastructure</font></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="2">increased investment in customer service to improve client care support systems and self-serve tools.</font></LI>
</UL>






<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; </font><b><font face="Arial"
size="1">17</font></b></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>






<P style="text-align: left;">
<font face="Arial" size="2">Additionally, Bell&#146;s capital expenditures were higher this year as a result of the acquisition of CTV, where capital spending in the first quarter of&nbsp;2012 focused on HD upgrades to broadcast studios and TV production equipment.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consistent with its strategic priority to grow broadband, Bell&nbsp;Aliant&#146;s capital expenditures increased 15.1%, year over year, to &#36;137&nbsp;million in Q1&nbsp;2012 from &#36;119&nbsp;million in Q1&nbsp;2011, mainly reflecting accelerated expansion of its FibreOP Internet and TV service coverage through the deployment of FTTH.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Debt Instruments</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In the first quarter of&nbsp;2012, we issued &#36;180&nbsp;million of debt, net of repayments, mainly from borrowings under notes payable and bank advances.<br>
&nbsp;&nbsp;&nbsp;&nbsp; In the first quarter of&nbsp;2011, we issued &#36;1,450&nbsp;million of debt, net of repayments. Bell&nbsp;Canada issued medium-term debentures having a principal amount of &#36;1 billion. We borrowed approximately &#36;560&nbsp;million under notes payable and bank advances, mainly from an issuance of &#36;600&nbsp;million in commercial paper at Bell&nbsp;Canada.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Issue of Preferred Shares</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In the first quarter of&nbsp;2012, BCE&nbsp;issued 11,200,000 Series AK Preferred Shares for gross proceeds of &#36;280&nbsp;million.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Issue of Equity Securities by Subsidiaries to Non-Controlling Interest</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In the first quarter of&nbsp;2011, Bell&nbsp;Aliant Preferred Equity&nbsp;Inc., an indirect subsidiary of Bell&nbsp;Aliant, issued preferred shares for gross proceeds of &#36;288&nbsp;million.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Repurchase of Common Shares</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In the first three months of&nbsp;2012, BCE&nbsp;repurchased and cancelled 2,604,439 of its outstanding common shares for a total cash outlay of &#36;107&nbsp;million under its&nbsp;2011 NCIB program. The program was completed in March&nbsp;2012.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Cash Dividends Paid on Common Shares</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In the first quarter of&nbsp;2012, cash dividends paid on common shares increased as we paid a dividend of &#36;0.5175 per common share as compared to a dividend paid of &#36;0.4575 per common share in the first quarter of&nbsp;2011.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>CREDIT RATINGS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Our key credit ratings at May&nbsp;2,&nbsp;2012 remain unchanged from those described in the BCE&nbsp;2011 Annual MD&amp;A.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>LIQUIDITY</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Our cash requirements remain substantially unchanged from those described in the BCE&nbsp;2011 Annual MD&amp;A, with the exception of the funding required for our acquisition of Astral. The Astral acquisition is valued at approximately &#36;3.38 billion. To fund the proposed acquisition, BCE&nbsp;has secured a new, three-year committed credit facility in the amount of up to &#36;3.5 billion. BCE&nbsp;has assumed that the purchase price for Astral will be funded by approximately &#36;2.5 billion of borrowings under the credit facility, to be replaced by permanent financing consisting of long-term debt and preferred shares to be issued in the capital markets, and up to &#36;750&nbsp;million of BCE&nbsp;common shares, which BCE&nbsp;has discretion to replace, in whole or in part, with cash at closing.<br>
&nbsp;&nbsp;&nbsp;&nbsp; BCE has agreed to purchase, in a joint ownership
arrangement with Rogers, a net 75% ownership
position in MLSE from Ontario Teachers&#146; Pension Plan Board. BCE&#146;s cash
commitment will total $525&nbsp;million (or $398&nbsp;million assuming the completion of a
leveraged recapitalization of MLSE) and is expected to be funded with a
combination of cash on hand, cash flows from operations and commercial paper. </font></P>
<P style="text-align: left;">
<font face="Arial" size="4">
<B>Updates to Our Regulatory Environment</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The following are updates to the regulatory initiatives and proceedings described in the BCE&nbsp;2011 Annual MD&amp;A under the section <I>Our Regulatory Environmen</I>t (at pages 58 to 61 of the BCE&nbsp;2011 Annual Report), filed with the Canadian securities regulatory authorities (available on BCE&#146;s website at www.bce.ca and on SEDAR at www.sedar.com) and with the United States Securities and Exchange Commission under Form 40-F (available on EDGAR at www.sec.gov). For ease of reference, the updates below have, where applicable, been presented under the same headings and in the same order as in the section entitled <I>Our Regulatory Environment </I>of the BCE&nbsp;2011 Annual MD&amp;A.</font></P>
<P style="text-align: left;">
&nbsp;</P>






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b> 18 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right">
<font face="Arial" size="2">Management&#146;s Discussion
and Analysis</font></p>






<P style="text-align: left;">
<font face="Arial" size="2">
<B>TELECOMMUNICATIONS ACT</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Key Telecommunications Issues</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<I>Industry&nbsp;Canada Consultation on Reform of&nbsp;Canada&#146;s Telecommunications Foreign Ownership Rules</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">On March&nbsp;14,&nbsp;2012, the Minister of Industry announced that the Federal Government planned to introduce changes to the foreign ownership provisions of the <I>Telecommunications Act</I>. These changes would remove the existing foreign investment restrictions applicable to facilities-based wireline and wireless telecommunications operators, known as Telecommunications Common Carriers (TCCs), that have less than a 10 percent share of the total Canadian telecommunications market measured by revenue. This would mean that non-Canadian investors would be able to acquire up to 100% ownership in and control over TCCs already operating in&nbsp;Canada having less than a 10% share of the national market, or new TCCs not yet present in&nbsp;Canada. TCCs that grow their market share over the 10 percent revenue threshold (other than by way of merger or acquisition) would continue to be eligible to operate with foreign ownership and control of their operations. The current foreign ownership restrictions, which effectively limit foreign direct and indirect investment in TCCs to a maximum 46.67 percent voting interest and which prevent non-Canadians from exercising control in fact would remain applicable to TCCs, such as Bell, Rogers and Telus, having a greater than 10 percent share of the national telecommunications market. There would be no changes to the foreign ownership restrictions applicable to broadcasters, such as licenced cable and satellite television service providers, or programming licensees, such as Bell&nbsp;Media.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The government&#146;s announced changes will be implemented by way of amendments to the <I>Telecommunications Act </I>
contained in Bill C-38, The Budget Implementation Act, introduced on April 26,
2012. The announced changes to the foreign ownership restrictions for TCCs could result in more foreign companies entering the Canadian market. This could result in greater access to capital for our competitors or the arrival of new competitors with global scale, which would increase competitive pressure. The adoption of these changes could place us at a disadvantage relative to some of our competitors as it relates to access to, and cost of, capital.</font></P>
<P style="text-align: left;">
<font face="Arial">
<I>CRTC Proceeding to Consider the Adoption of a National Wireless Services Consumer Code</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In Telecom Notice of Consultation CRTC&nbsp;2012-206 (TNC&nbsp;2012-126), the CRTC is seeking comment on whether it should develop a national retail wireless services consumer code. Over the past several years several provinces, including Qu&eacute;bec, Manitoba, Ontario and Newfoundland and Labrador, have amended (or announced plans to amend) their consumer protection legislation to directly or indirectly regulate wireless service contracts in those provinces. Carriers have expressed concerns that the proliferation of at-times inconsistent provincial regulatory rules has led to a patchwork of different rules that creates confusion for consumers and increases compliance costs for national wireless service providers, which ultimately increases costs which are passed onto consumers. The adoption of a single, national wireless code adopted or approved by the CRTC would have the benefit of streamlining compliance and operational costs. However, there is a risk that if the CRTC decides to re-assert its jurisdiction over wireless consumer contracts that it could re-impose more stringent regulation than exists today. Parties&#146; comments are due by May&nbsp;3,&nbsp;2012 with reply comments due on May&nbsp;14,&nbsp;2012.</font></P>
<p><b><font face="Arial" size="2">BROADCASTING ACT </font></b></p>
<p><b><font face="Arial">Proceeding to Review Over-The-Top (OTT) Programming
Services </font></b></p>
<p><font face="Arial" size="2">As discussed in more detail in the BCE 2011
Annual MD&amp;A, on May 25, 2011, the CRTC initiated a fact-finding exercise aimed
at better understanding the impact OTT programming (programming delivered via
the Internet) will have on the Canadian broadcasting system and whether changes
are necessary with regard to the regulation of either OTT programming or
traditional regulated broadcasting distribution undertakings. On October
5, 2011, the CRTC announced that its fact-finding exercise produced inconclusive
results and that it would not, at that time, consider a general review of the
current regulatory framework which applies to new media broadcasting
undertakings. The CRTC also announced on April 16, 2012 that, although it will
continue to monitor OTT in the context of the evolving Canadian communications
landscape, it considers that OTT programming services have not had an impact
sufficient to warrant another fact-finding exercise at this time. If no further
action is taken by the CRTC, OTT providers that compete with traditional
broadcasters will continue to be able to do so without making similar
contributions to Canadian program creation and presentation, thus benefitting
from an unbalanced regulatory environment.</font></p>
<p>&nbsp;</p>



<font face="Arial" size="2">





<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; </font>






</font>





<font face="Arial" size="1">





<b>19</b></p>






</font>





<font face="Arial" size="2">





<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left"><font face="Arial">Management&#146;s Discussion
and Analysis</font></p>






</font>





<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>RADIOCOMMUNICATION ACT</B></font></P>
<P style="text-align: left;">
<font face="Arial">
<B>700 MHz Spectrum Auction</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In March&nbsp;2012, Industry&nbsp;Canada released its decision on a policy and technical framework for licensing 700 MHz spectrum. Rather than a spectrum set-aside, as it employed in the&nbsp;2008 AWS auction, Industry&nbsp;Canada will implement spectrum caps in the 700 MHz spectrum auction. The spectrum cap will limit Bell, and other larger licensees, to obtaining only one of the four paired spectrum blocks that line up with the 700 MHz spectrum holdings of the two largest wireless service providers in the U.S. The Federal Government&#146;s pending changes to the Canadian telecommunication foreign ownership regulations would allow foreign entities to bid for the same spectrum blocks as Bell, and the other larger Canadian licensees, but they would be subject to a larger spectrum cap of two paired spectrum blocks. Additional rural deployment requirements will apply, applicable in any area where a carrier has access to two or more paired blocks of spectrum. The ability of Bell&nbsp;to acquire its preferred spectrum blocks in the auction may be affected by the auction strategies of other participants and the extent of potential entry of foreign entities in the auction process.
On April 25, 2012, Industry Canada initiated a further consultation seeking
comments on licensing considerations related to auction format, rules and
processes, as well as on conditions of licence for spectrum in the 700 MHz band.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Decisions and Consultations on Transition to Broadband Radio Service in the 2500&#150;2690 MHz Band</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In March&nbsp;2012, Industry&nbsp;Canada released its decisions on a policy and technical framework to
further license spectrum in the 2500 MHz spectrum band. Specifically the decisions address spectrum caps, spectrum packaging, block and tier sizes as well as deployment requirements. Industry&nbsp;Canada anticipates that the auction for the 2500 MHz spectrum will be conducted in early 2014. Industry&nbsp;Canada chose to implement a 40 MHz spectrum cap that includes both paired and unpaired spectrum. Existing spectrum licensees in the 2500 MHz spectrum band will not be required to return spectrum if they are above the 40 MHz spectrum
cap in a licenced area, and they will also be allowed to acquire additional spectrum, up to that cap, in licenced areas where they are currently below the cap. This will give Bell&nbsp;the flexibility to bid for additional spectrum in areas where we are below the cap. Industry&nbsp;Canada will license spectrum on a 10 + 10 MHz block basis and unpaired spectrum will be licensed in blocks of 25 MHz in all areas. Licences will be granted on the basis of Tier 3 service areas with the exception of the Yukon, Northwest Territories and Nunavut which will be licensed on the basis of Tier 4 service areas. Industry&nbsp;Canada also announced that rollout obligations will apply to licensees, with the details to be determined following a further consultation. The Federal Government&#146;s pending changes to the Canadian telecommunications foreign ownership regulations would allow foreign entities to participate in the auction process. The ability of Bell&nbsp;to acquire its preferred spectrum blocks in auction may be affected depending on the auction strategies of other participants and the extent of entry of foreign entities in the auction process.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Roaming and Tower Sharing Conditions of Licence</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In a consultation document issued on March&nbsp;14,&nbsp;2012, entitled <I>Proposed Revisions to the Frameworks for Mandatory Roaming and Antenna Tower and Site Sharing</I>, Industry&nbsp;Canada proposed a number of significant changes to its existing mandatory roaming and tower sharing Conditions of Licence (CoLs) that are generally intended to strengthen the existing rules to make it easier for licenced wireless providers to enter into roaming agreements and share each others&#146; towers and ancillary facilities. In terms of roaming, the most important proposed change is to eliminate the current distinction between in-territory and out-of-territory roaming. Under the&nbsp;2008 CoLs, only new entrants were granted in-territory roaming privileges &#150; but only for 5 years; and out of territory roaming privileges (which applied to both the incumbents and new entrants) were granted for 10 years. In contrast, the&nbsp;2012 consultation document proposes that all licensees would be obliged to provide mandated roaming to all other licensees indefinitely, whether in-territory or out-of-territory. This change could increase the number of wireless operators seeking mandated roaming on Bell&#146;s wireless network. The change also would provide Bell&nbsp;with increased roaming privileges to competitors&#146; networks.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In terms of mandatory tower and site sharing, Industry&nbsp;Canada&#146;s proposed changes primarily address reducing the timelines within which information is to be shared between carriers, and site sharing agreements must be entered into. The consultation proposes to tighten the timelines within which arbitrations would be completed. All of these changes are intended to facilitate the quicker execution of roaming and tower sharing agreements and/or the resolution of such disputes to the extent they occur. Industry&nbsp;Canada is expected to finalize the new tower sharing and roaming CoLs in advance of the forthcoming 700 MHz spectrum auction, anticipated to be held during the first half of&nbsp;2013.</font></P>
<P style="text-align: left;">
&nbsp;</P>



<font face="Arial" size="2">






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b>20 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right"><font face="Arial">Management&#146;s Discussion
and Analysis</font></p>






</font>





<P style="text-align: left;">
<font face="Arial" size="4">
<B>Assumptions and Risks that Could Affect Our Business and Results</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>ASSUMPTIONS MADE IN THE PREPARATION OF FORWARD-LOOKING STATEMENTS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">As at the date of this MD&amp;A, our forward-looking statements set out in the BCE&nbsp;2011 Annual MD&amp;A, as subsequently updated in this MD&amp;A, are based on certain assumptions including, without limitation, the following:</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Assumptions About the Canadian Economy</B></font></P>
<UL>
<LI>
<font face="Arial" size="2">growth in the Canadian economy of 2.4% in&nbsp;2012 based on the Bank of&nbsp;Canada&#146;s most recent estimate, a 40 basis point increase compared with an earlier estimate of 2.0%.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial">
<B>Canadian Market Assumptions</B></font></P>
<UL>
<LI>
<font face="Arial" size="2">continued weak product sales, reflecting deferred business customer spending given the slow pace of economic growth</font></LI>
<LI>
<font face="Arial" size="2">a softer advertising market expected for Bell&nbsp;Media</font></LI>
<LI>
<font face="Arial" size="2">an ongoing intense level of wireline competition in both consumer and business markets</font></LI>
<LI>
<font face="Arial" size="2">higher wireline replacement, due primarily to increasing wireless and Internet-based technological substitution</font></LI>
<LI>
<font face="Arial" size="2">wireless industry penetration gain of 4 to 5 basis points in&nbsp;2012 driven, in particular, by increased competition, the accelerating adoption of smartphones, tablets and data applications, as well as by the introduction of more LTE devices.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial">
<B>Operational Assumptions Concerning Bell&nbsp;Wireline (Excluding Bell&nbsp;Aliant)</B></font></P>
<UL>
<LI>
<font face="Arial" size="2">stabilizing residential NAS line erosion rate as we leverage our broadband investment in IPTV to drive three-product household penetration, increase our MDU market share, and generate higher pull-through attach rates for our residential Internet and home phone services</font></LI>
<LI>
<font face="Arial" size="2">in particular, targeted retention and service bundle offers, customer win backs and better service execution to contribute to the improvement in residential NAS line losses year over year, subject to the risk of more aggressive service bundle offers from our cable TV competitors and marketing actions from the newer wireless entrants which could lead to higher residential NAS line losses</font></LI>
<LI>
<font face="Arial" size="2">increased subscriber acquisition at Bell&nbsp;TV to be driven by increased customer adoption of Fibe TV, and our ability to seek greater penetration within the MDU market, capitalize on our extensive retail distribution network, which includes The Source, and leverage our market leadership position in HD programming</font></LI>
<LI>
<font face="Arial" size="2">improved subscriber acquisition at Bell&nbsp;Internet to be driven by pull-through from Fibe TV and increased adoption of Fibe Internet packages as we leverage our expanding broadband fibre network to offer higher-speed service to customers in more areas</font></LI>
<LI><font face="Arial" size="2">increased business customer spending, new business formation and higher demand for connectivity and ICT services, as the economy strengthens and employment rates improve, to result in a gradual improvement in the performance of our Business Markets unit, subject to the risk of business customers adopting more conservative strategies which could result in lower capital spending requirements, deferral of ICT projects and increased NAS erosion</font></LI>
<LI><font face="Arial" size="2">cost savings and labour efficiency gains to be achieved from a reduced management workforce, lower corporate support group costs, renegotiated contracts with our vendors and outsource suppliers, client care and field service productivity improvements, managing content costs and reducing traffic that is not on our own network</font></LI>
<LI><font face="Arial" size="2">continued customer migration to IP-based systems and competitive re-price pressures in our business and wholesale markets</font></LI>
<LI><font face="Arial" size="2">increasing EBITDA contribution from growth services</font></LI>
<LI><font face="Arial" size="2">approximately 3.3&nbsp;million Bell&nbsp;Fibe TV-ready households by the end of&nbsp;2012.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial">
<B>Operational Assumptions Concerning Bell&nbsp;Wireless (Excluding Bell&nbsp;Aliant)</B></font></P>
<UL>
<LI>
<font face="Arial" size="2">Bell&nbsp;Wireless to benefit from the flow-through of significant investments made in&nbsp;2011 in customer acquisition and retention, along with continued acceleration in smartphone activations and data usage</font></LI>
<LI>
<font face="Arial" size="2">incumbents and newer wireless entrants to continue aggressive competition in&nbsp;2012 and newer wireless entrants to continue enhancing the breadth and reach of their networks, improving their distribution reach and expanding their device portfolios</font></LI>
<LI>
<font face="Arial" size="2">wireless revenue growth to be underpinned by ARPU driven by a higher mix of smartphone and higher-value postpaid customers, increased distribution in western&nbsp;Canada, new service, and continued disciplined price management</font></LI>
<LI>
<font face="Arial" size="2">Bell&nbsp;Wireless to benefit from ongoing technological improvements by manufacturers in our handset and device lineup and from faster data speeds that are allowing our clients to optimize the use of our services</font></LI>
<LI>
<font face="Arial" size="2">Bell&nbsp;Wireless to maintain a reasonable market share of the incumbent wireless postpaid market</font></LI>
<LI>
<font face="Arial" size="2">higher subscriber acquisition and customer retention costs, as well as the continued deployment of our wireless LTE network in urban markets while continuing to leverage our wireless HSPA+ network.</font></LI>
</UL>
<p>&nbsp;</p>



<font face="Arial" size="2">





<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; </font>






</font>





<font face="Arial" size="1">





<b>21</b></p>






</font>





<font face="Arial" size="2">





<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left"><font face="Arial">Management&#146;s Discussion
and Analysis</font></p>






</font>





<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial">
<B>Operational Assumptions Concerning Bell&nbsp;Media</B></font></P>
<UL>
<LI>
<font face="Arial" size="2">building and maintaining strategic supply arrangements for content on four screens, successfully acquiring high-rated programming and differentiated content to execute on Bell&#146;s multi-screen content strategy, producing and commissioning high-quality Canadian content, and producing market-leading news</font></LI>
<LI>
<font face="Arial" size="2">revenue growth in our sports broadcast operations to be generated primarily by increased subscription revenue</font></LI>
<LI>
<font face="Arial" size="2">increased costs to secure content in our sports broadcast operations as we face greater competition from both new and established entrants, and as market rates for specialty content generally increase</font></LI>
<LI>
<font face="Arial" size="2">investment in programming and marketing and launch of new services in both English and French for our non-sports specialty services, in combination with ongoing investment in HD services</font></LI>
<LI>
<font face="Arial" size="2">maintaining our strong market position in our radio operations by leveraging strategic investments made in&nbsp;2011</font></LI>
<LI>
<font face="Arial" size="2">the achievement of productivity gains and other operating efficiencies related to Bell&nbsp;Media integration synergies.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial" size="2">Please see the section entitled <I>Business Outlook and Assumptions </I>in the BCE&nbsp;2011 Annual MD&amp;A at pages 32 to 34 of the BCE&nbsp;2011 Annual Report for a more complete description of certain of the above and other assumptions for&nbsp;2012 that we made in preparing forward-looking statements, which section is, except to the extent modified in this MD&amp;A, incorporated herein by reference. If our assumptions turn out to be inaccurate, our actual results could be materially different than what we expect.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>RISKS THAT COULD AFFECT OUR BUSINESS AND RESULTS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">A risk is the possibility that an event might happen in the future that could have a negative effect on our business, financial position or financial performance. Part of managing our business is to understand what these potential risks could be and to mitigate them where we can.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The actual effect of any event could be materially different from what we currently anticipate. In addition, our description of risks does not include all possible risks.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the BCE&nbsp;2011 Annual MD&amp;A we provided a detailed review of risks that could affect our business, financial position and financial performance and that could cause actual results or events to differ materially from our expectations expressed in or implied by our forward-looking statements. The risks described in the BCE&nbsp;2011 Annual MD&amp;A included, without limitation, risks associated with:</font></P>
<UL>
<LI>
<font face="Arial" size="2">the intensity of competitive activity, including the increase in wireless competitive activity resulting from Industry&nbsp;Canada&#146;s licensing AWS spectrum to new wireless entrants and their ability to launch or expand services, and the resulting impact on our ability to retain existing customers and attract new ones, as well as on our pricing strategies, ARPU and financial results;</font></LI>
<LI>
<font face="Arial" size="2">the level of technological substitution contributing to reduced utilization of traditional wireline voice services and the increasing number of households that use only wireless telephone services;</font></LI>
<LI>
<font face="Arial" size="2">the increased adoption by customers of alternative TV services;</font></LI>
<LI><font face="Arial" size="2">variability in subscriber acquisition and retention costs based on subscriber acquisitions, retention volumes, smartphone sales and subsidy levels;</font></LI>
<LI><font face="Arial" size="2">regulatory initiatives or proceedings, litigation, changes in laws or regulations and tax matters;</font></LI>
<LI><font face="Arial" size="2">general economic and financial market conditions, the level of consumer confidence and spending, and the demand for, and prices of, our products and services;</font></LI>
<LI><font face="Arial" size="2">our ability to implement our strategies and plans in order to produce the expected benefits, including our ability to continue to implement our cost reduction initiatives and contain capital intensity while seeking to improve customer service;</font></LI>
<LI><font face="Arial" size="2">our ability to anticipate and respond to technological change, upgrade our networks and rapidly offer new products and services;</font></LI>
<LI><font face="Arial" size="2">our failure to maintain network operating performance including as a result of the significant increase in broadband demand and in the volume of wireless data driven traffic;</font></LI>
<LI><font face="Arial" size="2">events affecting the functionality of, and our ability to protect, maintain and replace, our networks, equipment, facilities, information technology (IT) systems, software and other assets;</font></LI>
<LI><font face="Arial" size="2">our failure to implement, on a timely basis, or maintain effective IT systems and the complexity and costs of our IT environment;</font></LI>
<LI><font face="Arial" size="2">the complexity of our product offerings and pricing plans;</font></LI>
<LI><font face="Arial" size="2">events affecting the ability of third-party suppliers to provide to us, and our ability to purchase, essential products and services;</font></LI>
<LI><font face="Arial" size="2">the quality of our network and customer equipment and the extent to which they may be subject to manufacturing defects;</font></LI>
<LI><font face="Arial" size="2">ineffective management of changes resulting from restructurings and other corporate initiatives and from the integration of business units and business acquisitions;</font></LI>
<LI><font face="Arial" size="2">increased contributions to employee benefit plans;</font></LI>
<LI><font face="Arial" size="2">labour disruptions;</font></LI>
<LI><font face="Arial" size="2">capital and other expenditure levels, financing and debt requirements and our ability to raise the capital we need to implement our business plan, including for BCE&#146;s dividend payments and to fund capital and other expenditures and generally meet our financial obligations;</font></LI>
</UL>
<p>&nbsp;</p>



<font face="Arial" size="2">






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b>22 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom: 0" align="right"><font face="Arial">Management&#146;s Discussion
and Analysis</font></p>






</font>





<UL>
<LI><font face="Arial" size="2">our ability to discontinue certain traditional services as necessary to improve capital and operating efficiencies;</font></LI>
<LI><font face="Arial" size="2">launch and in-orbit risks of satellites used by Bell&nbsp;ExpressVu Limited Partnership;</font></LI>
<LI><font face="Arial" size="2">the theft of our satellite television services;</font></LI>
<LI><font face="Arial" size="2">Bell&nbsp;Media&nbsp;Inc.&#146;s significant dependence on continued demand for advertising, and the potential adverse effect thereon from challenging economic conditions, cyclical and seasonal variations and competitive pressures, and on securing commercially favourable distribution arrangements with broadcasting distribution undertakings;</font></LI>
<LI><font face="Arial" size="2">the adverse effect of new technology and increasing fragmentation in Bell&nbsp;Media&nbsp;Inc.&#146;s television and radio markets;</font></LI>
<LI><font face="Arial" size="2">royalties payable by Bell&nbsp;Media&nbsp;Inc. under licences pursuant to the Copyright Act may increase;</font></LI>
<LI><font face="Arial" size="2">health concerns about radio frequency emissions from wireless devices;</font></LI>
<LI><font face="Arial" size="2">our ability to maintain customer service and our networks operational in the event of the occurrence of environmental disasters or epidemics, pandemics and other health risks;</font></LI>
<LI><font face="Arial" size="2">employee retention and performance;</font></LI>
<LI><font face="Arial" size="2">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;</font></LI>
<LI><font face="Arial" size="2">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;</font></LI>
<LI><font face="Arial" size="2">stock market volatility; and</font></LI>
<LI><font face="Arial" size="2">the expected timing and completion of the proposed acquisition by BCE&nbsp;of an interest in
MLSE is subject to closing conditions, termination rights and other risks and uncertainties including, without limitation, any required regulatory and sports league approvals.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial" size="2">Please see the section entitled <I>Risks that Could Affect Our Business and Results </I>in the BCE&nbsp;2011 Annual MD&amp;A at pages 62 to 69 of the BCE&nbsp;2011 Annual Report and the sections entitled <I>Our Competitive Environment </I>and <I>Our Regulatory Environment </I>in the BCE&nbsp;2011 Annual MD&amp;A, at pages 54 to 61 of the BCE&nbsp;2011 Annual Report, for a more complete description of the above-mentioned and other risks, which sections are incorporated herein by reference.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>UPDATE TO THE DESCRIPTION OF RISKS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The following is an update to the description of risks contained in the section entitled <I>Risks that Could Affect Our Business and Results </I>of the BCE&nbsp;2011 Annual MD&amp;A.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>The expected timing and completion of the proposed acquisition of astral is subject to closing conditions and other risks and uncertainties and there can be no certainty that anticipated benefits will be realized</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The expected timing and completion of the proposed acquisition by BCE&nbsp;of Astral is subject to customary closing conditions, termination rights and other risks and uncertainties including, without limitation, shareholder approval, court approval and any required regulatory approvals, including approval by the CRTC, Competition Bureau and the Toronto and New York stock exchanges (refer to Astral&#146;s Notice of Special Meeting of Shareholders and Management Information Circular dated April&nbsp;19,&nbsp;2012 for a detailed description of the relevant closing conditions, termination rights, and other risks and uncertainties, including the required court, shareholder and regulatory approvals). Accordingly, there can be no assurance that the proposed transaction will occur, or that it will occur on the timetable or on the terms and conditions currently contemplated. The proposed transaction could be modified, restructured or terminated.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BCE&nbsp;is proposing to acquire Astral to strengthen its competitive position in the communications industry and to create the opportunity to realize certain benefits. Achieving the anticipated benefits depends in part on successfully consolidating functions and integrating operations, procedures and personnel in a timely and efficient manner, as well as BCE&#146;s ability to realize the anticipated growth opportunities and synergies from combining the acquired businesses and operations with those of BCE. The consummation of the proposed transaction and the integration require the dedication of substantial management effort, time and resources which may divert management&#146;s focus and resources from other strategic opportunities and from operational matters during this process. The consummation of the proposed transaction and the integration process may lead to greater than expected operational challenges and costs, expenses, liabilities, customer loss and business disruption for BCE&nbsp;and, consequently, the failure to realize, in whole or in part, the anticipated benefits.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, BCE&nbsp;may be required to assume greater than expected liabilities due to undisclosed liabilities of Astral existing at the time of completion of the proposed transaction. Furthermore, BCE&#146;s consolidated financial results may, following completion of the proposed transaction, become more cyclical and will be subject to a greater extent to risks affecting the media industry as a result of a higher concentration of its operations in the media business. Finally, BCE&#146;s expectation that the acquisition of Astral will be accretive to BCE&#146;s earnings and free cash flow per share is subject to the risks that will be faced by Astral&#146;s business, following completion of the proposed transaction, certain of which risks are described in Astral&#146;s MD&amp;A for the financial year ended August&nbsp;31,&nbsp;2011, as updated in Astral&#146;s subsequent quarterly MD&amp;As.</font></P>
<P style="text-align: left;">
&nbsp;</P>



<font face="Arial" size="2">





<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>23</b></font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left"><font face="Arial">Management&#146;s Discussion
and Analysis</font></p>






</font>





<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="4">
<B>Our Accounting Policies</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>BASIS OF PRESENTATION</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">BCE&#146;s consolidated interim financial statements for the first quarter of&nbsp;2012 were prepared in accordance with IFRS, as issued by the International Accounting Standards Board (IASB), under International Accounting Standard (IAS) 34 &#150; Interim Financial Reporting and were approved by BCE&#146;s board of directors on May&nbsp;2,&nbsp;2012. These consolidated interim financial statements were prepared using the same basis of presentation, accounting policies and methods of computation as outlined in Note 2, <I>Significant Accounting Policies </I>as described in our consolidated financial statements for the year ended December&nbsp;31,&nbsp;2011. The consolidated interim financial statements do not include all of the notes required in annual financial statements.</font></P>
<P style="text-align: left;">
<font face="Arial" size="4">
<B>Controls and Procedures</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>DISCLOSURE CONTROLS AND PROCEDURES AND INTERNAL CONTROL OVER FINANCIAL REPORTING</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In accordance with the provisions of National Instrument 52-109 &#150; <I>Certification of Disclosure in Issuers&#146; Annual and Interim Filings</I>, the CEO and the Chief Financial Officer of BCE&nbsp;have limited the scope of their design and evaluation of our disclosure controls and procedures and internal control over financial reporting to exclude the controls and procedures and internal control over financial reporting of Bell&nbsp;Media&nbsp;Inc. (Bell&nbsp;Media), previously known as CTV, which we acquired on April&nbsp;1,&nbsp;2011. Bell&nbsp;Media&#146;s contribution to our consolidated financial statements for the three months ended March&nbsp;31,&nbsp;2012 was approximately 10% of consolidated revenues and had no impact on consolidated earnings. Additionally, at March&nbsp;31,&nbsp;2012, Bell&nbsp;Media&#146;s current assets and current liabilities were approximately 13% and 6% of consolidated current assets and current liabilities, respectively, and its non-current assets and non-current liabilities were approximately 3% and 5% of consolidated non-current assets and non-current liabilities, respectively. The design and evaluation of Bell&nbsp;Media&#146;s disclosure controls and procedures and internal control over financial reporting will be complete in the second quarter of&nbsp;2012.<br>
&nbsp;&nbsp;&nbsp;&nbsp; Further details related to the acquisition of CTV are disclosed in note 4 to BCE&#146;s&nbsp;2011 annual financial statements.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">No changes were made in our internal control over financial reporting during the quarter ended March&nbsp;31,&nbsp;2012 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</font></P>



<font face="Arial" size="2">






</font>





<P style="text-align: left;">
<font face="Arial" size="4">
<B>Non-GAAP Financial Measures</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>This section describes the non-GAAP financial measures we use in this MD&amp;A to explain our financial results. It also provides reconciliations of the non-GAAP financial measures to the most comparable IFRS financial measures.</I></font></P>
<P style="text-align: left;">
<font face="Arial">
<B>EBITDA</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>The term EBITDA does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other companies. We define EBITDA as operating revenues less operating costs, as shown in BCE&#146;s consolidated income statements. EBITDA for BCE&#146;s segments is the same as segment profit as reported in Note 3 to BCE&#146;s Q1&nbsp;2012 consolidated financial statements.</I><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We use EBITDA to evaluate the performance of our businesses as it reflects their ongoing profitability. We believe that certain investors and analysts use EBITDA to measure a company&#146;s ability to service debt and to meet other payment obligations or as a common measurement to value companies in the telecommunications industry. EBITDA also is one component in the determination of short-term incentive compensation for all management employees. EBITDA has no directly comparable IFRS financial measure. Alternatively, the following table provides a reconciliation of net earnings to EBITDA.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Net earnings</B></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>19</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">61</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Depreciation</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>644</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">611</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Amortization</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>181</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">179</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Finance costs</font></TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest expense</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>204</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">191</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest on employee benefit obligations</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>243</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">242</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected return on pension plan assets</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(267</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(254</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other expense</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>20</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">22</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Income taxes</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>207</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">199</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>EBITDA</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,927</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">1,833</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="text-align: left;">
&nbsp;</P>



<font face="Arial" size="2">






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b>24 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">






<p style="margin-top: 0; margin-bottom:0" align="right"><font face="Arial">Management&#146;s Discussion
and Analysis</font></p>






<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>






</font>





<P style="text-align: left;">
<font face="Arial" size="2">
<B>ADJUSTED NET EARNINGS AND ADJUSTED EPS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>The terms Adjusted net earnings and Adjusted EPS do not have any standardized meaning according to IFRS. They are therefore unlikely to be comparable to similar measures presented by other companies.</I><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>We define Adjusted net earnings as net earnings attributable to common shareholders before severance, acquisition and other costs, and net (gains) losses on investments. We define Adjusted EPS as Adjusted net earnings per BCE&nbsp;common share.</I><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We use Adjusted net earnings and Adjusted EPS, among other measures, to assess the performance of our businesses without the effects of severance, acquisition and other costs, and net (gains) losses on investments, net of tax and non-controlling interest. We exclude these items because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The most comparable IFRS financial measures are net earnings attributable to common shareholders and EPS. The following table is a reconciliation of net earnings attributable to common shareholders and EPS to Adjusted net earnings on a consolidated basis and per BCE&nbsp;common share (Adjusted EPS), respectively.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="52%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=center width="22%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" colspan="3">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD align=center width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=center width="22%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" colspan="3">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="52%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>TOTAL</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="1">PER SHARE</font></b></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
TOTAL</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">PER SHARE</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="52%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Net earnings attributable to common shareholders</B></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>574</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.74</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">503</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.67</font></TD>
	<TD align=right width="2%">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="52%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>14</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.02</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">40</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.05</font></TD>
	<TD align=right width="2%">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="52%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net gains on investments</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(8</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(0.01</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="52%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Adjusted net earnings</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>580</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.75</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">543</font></TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">0.72</font></TD>
	<TD align=right width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp;</font></TD>
</TR>
</TABLE>



<font face="Arial" size="2">






</font>





<P style="text-align: left;">
<font face="Arial" size="2">
<B>FREE CASH FLOW</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>The term free cash flow does not have any standardized meaning according to IFRS. It is therefore unlikely to be comparable to similar measures presented by other companies.</I><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>We define free cash flow as cash flows from operating activities, excluding acquisition costs paid, and dividends/distributions received from Bell&nbsp;Aliant, less capital expenditures, preferred share dividends, dividends/distributions paid by subsidiaries to non-controlling interest and Bell&nbsp;Aliant free cash flow.</I><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consider free cash flow to be an important indicator of the financial strength and performance of our business because it shows how much cash is available to repay debt and reinvest in our company. We present free cash flow consistently from period to period, which allows us to compare our financial performance on a consistent basis.<br>
&nbsp;&nbsp;&nbsp;&nbsp; We believe that certain investors and analysts use free cash flow to value a business and its underlying assets.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The most comparable IFRS financial measure is cash flows from operating activities. The following table is a reconciliation of cash flows from operating activities to free cash flow on a consolidated basis.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>Q1&nbsp;2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">Q1&nbsp;2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Cash flows from operating activities</B></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,198</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">734</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Aliant dividends / distributions to BCE</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>48</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">71</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Capital expenditures</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(817</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(634</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash dividends paid on preferred shares</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(33</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(28</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash dividends / distributions paid by subsidiaries to non-controlling interest</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(79</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(91</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Acquisition costs paid</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>25</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell&nbsp;Aliant free cash flow</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(15</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">209</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Free cash flow</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>327</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">265</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="margin-left:0px; margin-right:0px">&nbsp;</P>



<font face="Arial" size="2">





<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>2</b></font></font><font face="Arial" size="1"><b>5</b></p>






</font>





<font face="Arial" size="2">





<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">&nbsp;</p>
<p style="margin-top: 0; margin-bottom:0" align="left">&nbsp;</p>






</font>





<P style="text-align: left;">
<font face="Arial" size="5">Consolidated Income Statements</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE PERIOD ENDED</font></TD>
	<TD align=left width="10%">
<font size="1">&nbsp; </font> </TD>
	<TD width=2%>
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>MARCH 31,</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">MARCH 31,</font></TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">
<I>(in&nbsp;millions of Canadian dollars, except share amounts) (unaudited)</I></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">NOTE</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating revenues</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">3</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,909</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4,466</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating costs</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(2,982</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(2,633</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">5</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(19</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(61</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Depreciation</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(644</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(611</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Amortization</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(181</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(179</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Finance costs</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest expense</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(204</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(191</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest on employee benefit obligations</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">8</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(243</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(242</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected return on pension plan assets</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">8</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>267</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">254</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other expense</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">6</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(20</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(22</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Earnings before income taxes</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>883</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">781</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Income taxes</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(207</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(199</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings attributable to:</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Common shareholders</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>574</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">503</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Preferred shareholders</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>35</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">29</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Non-controlling interest</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>67</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">50</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings per common share</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Basic</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">7</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.74</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.67</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Diluted</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">7</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.74</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.67</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">&nbsp;</TD>
	<TD align=left width="10%">
&nbsp;</TD>
	<TD width=2%>
&nbsp;</TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
&nbsp;</TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
&nbsp;</TD>
	<TD align=right width="10%">
&nbsp;</TD>
	<TD align=left width=2%>
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Average number of common shares outstanding &#150; basic (millions)</font></TD>
	<TD align=left width="10%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>774.3</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">752.9</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="5">Consolidated Statements of Comprehensive Income</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE PERIOD ENDED</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>MARCH 31,</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">MARCH 31,</font></TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">
<I>(in&nbsp;millions of Canadian dollars) (unaudited)</I></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other comprehensive (loss) income, net of income taxes</font></TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Net change in unrealized gains (losses) on available-for-sale financial assets, net of income taxes of nil at March&nbsp;31,&nbsp;2012 and&nbsp;2011</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>3</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(10</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Net change in unrealized losses on derivatives designated as cash flow hedges, net of income taxes of &#36;5&nbsp;million and &#36;7&nbsp;million at March&nbsp;31,&nbsp;2012 and&nbsp;2011, respectively</font></TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=right width="76%">
<p align="left" style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Unrealized losses</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(13</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(21</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Gains realized in earnings</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(1</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Actuarial (losses) gains on employee benefit plans, net of income taxes of &#36;71&nbsp;million and (&#36;61)&nbsp;million at March&nbsp;31,&nbsp;2012 and&nbsp;2011, respectively</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(200</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">141</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other comprehensive (loss) income</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(210</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">109</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Comprehensive income</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>466</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">691</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Comprehensive income attributable to:</font></TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Common shareholders</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>387</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">607</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Preferred shareholders</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>35</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">29</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Non-controlling interest</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>44</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">55</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Comprehensive income</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>466</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">691</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="margin-left:0px; margin-right:0px">&nbsp;</P>



<font face="Arial" size="2">






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b>26 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">






<p style="margin-top: 0; margin-bottom:0" align="right">&nbsp;</p>






</font>





<P style="text-align: left;">
<font face="Arial" size="5">Consolidated Statements of Changes in Equity</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width=1%>
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="39%" colspan="13" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<p align="center"><font face="Arial" size="1">ATTRIBUTABLE TO OWNERS OF THE PARENT</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width=1%>
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">ACCUMULATED</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE PERIOD ENDED</font></TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width=1%>
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">OTHER</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">MARCH 31,&nbsp;2012</font></TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width=1%>
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">SHARES</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">COMPREHEN-</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">NON-</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">
<I>(in&nbsp;millions of Canadian dollars)</I></font></TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width=1%>
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">PREFERRED</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">COMMON</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">SUBJECT TO </font></TD>
	<TD align=right width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">CONTRIBUTED</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">SIVE</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">CONTROLLING</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>TOT</B></font><b><font face="Arial" size="1">AL</font></b></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">
<I>(unaudited)</I></font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">NOTE</font></TD>
	<TD width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">SHARES</font></TD>
	<TD width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">SHARES </font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">CANCELLATION</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">SURPLUS</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">LOSS</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">DEFICIT</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">TOTAL</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">INTEREST</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b><font face="Arial" size="1">EQUITY</font></b></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Balance at January&nbsp;1,&nbsp;2012</font></TD>
	<TD align=left width="7%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">3,115</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">13,566</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(50</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">2,527</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">5</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(5,385</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">13,778</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">981</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>14,759</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings</font></TD>
	<TD align=left width="7%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">609</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">609</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">67</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other comprehensive loss</font></TD>
	<TD align=left width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">(11</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">(176</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">(187</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">(23</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(210</B></font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Comprehensive (loss) income</font></TD>
	<TD align=left width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">(11</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">433</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">422</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">44</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>466</B></font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Preferred shares issued</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">9</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">280</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(3</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">277</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>277</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Common shares issued under stock option plan</font></TD>
	<TD align=left width="7%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">20</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(2</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">18</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>18</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Common shares repurchased and cancelled</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">9</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(46</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(3</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(58</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(107</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(107</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Common shares subject to cancellation</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">9</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">50</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">50</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>50</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other share-based payments</font></TD>
	<TD align=left width="7%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">14</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(4</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">10</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">1</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>11</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends declared on BCE&nbsp;common and preferred shares</font></TD>
	<TD align=left width="7%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(455</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(455</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(455</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends declared by subsidiaries to non-controlling interest</font></TD>
	<TD align=left width="7%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">(79</font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(79</B></font></TD>
	<TD align=left width="1%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Issue of equity securities by subsidiaries to non-controlling interest</font></TD>
	<TD align=left width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">1</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1</B></font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Balance at March&nbsp;31,&nbsp;2012</font></TD>
	<TD align=left width="7%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">3,395</font></TD>
	<TD width=1% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">13,540</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">2,536</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">(6</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">(5,472</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">13,993</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">948</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>14,941</B></font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="23%" colspan="11" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p align="center"><font face="Arial" size="1">ATTRIBUTABLE TO OWNERS OF THE PARENT</font></TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="1">ACCUMULATED</font></TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="1">OTHER</font></TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="1">NON-</font></TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE PERIOD ENDED MARCH 31,&nbsp;2011</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="1">PREFERRED</font></TD>
	<TD width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="1">COMMON</font></TD>
	<TD width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="1">CONTRIBUTED</font></TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="1">COMPREHEN-</font></TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="1">CONTROLLING</font></TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="1">TOTAL</font></TD>
	<TD align=left width="1%">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">
<I>(in&nbsp;millions of Canadian dollars) (unaudited)</I></font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">SHARES</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">SHARES</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">SURPLUS</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">SIVE INCOME</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">DEFICIT</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">TOTAL</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">INTEREST</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">EQUITY</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Balance at January&nbsp;1,&nbsp;2011</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">2,770</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">12,691</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">2,579</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">66</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(7,952</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">10,154</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">14</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">10,168</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">532</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">532</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">50</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other comprehensive (loss) income</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(31</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">135</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">104</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">5</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">109</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Comprehensive (loss) income</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(31</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">667</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">636</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">55</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">691</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Common shares issued under stock option plan</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">54</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(5</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">49</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">49</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other share-based payments</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">12</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">12</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">1</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">13</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends declared on BCE&nbsp;common and preferred shares</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(401</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(401</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(401</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends declared by subsidiaries to non-controlling interest</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(60</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(60</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Issue of equity securities by subsidiaries to non-controlling interest</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">281</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">281</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Equity transaction with non-controlling interest</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(50</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(50</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%">
<font face="Arial" size="2">44</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font face="Arial" size="2">(6</font></TD>
	<TD align=left width="1%">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD width="36%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Conversion of fund unit liability</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">13</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">2,716</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">2,729</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">331</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">3,060</font></TD>
	<TD align=left width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="36%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Balance at March&nbsp;31,&nbsp;2011</font></TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">2,770</font></TD>
	<TD width="1%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">12,745</font></TD>
	<TD width="1%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">2,536</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">48</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(4,970</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">13,129</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">666</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">13,795</font></TD>
	<TD align=left width="1%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="margin-left:0px; margin-right:0px">&nbsp;</P>



<font face="Arial" size="2">





<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>2</b></font></font><font face="Arial" size="1"><b>7</b></p>






</font>



<font face="Arial" size="2">





<HR noshade size=1 color="#000000">






</font>





<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="5">Consolidated Statements of Financial Position</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE PERIOD ENDED</font></TD>
	<TD align=left width="10%">
<font size="1">&nbsp; </font> </TD>
	<TD width=2%>
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>MARCH 31,</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">DECEMBER 31,</font></TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">
<I>(in&nbsp;millions of Canadian dollars) (unaudited)</I></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">NOTE</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>ASSETS</B></font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Current assets</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Cash</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>130</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">130</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Cash equivalents</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>267</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">45</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Trade and other receivables</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,821</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">3,119</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Current tax receivable</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>38</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">43</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Inventory</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>361</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">427</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Prepaid expenses</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>397</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">262</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Other current assets</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>128</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">152</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total current assets</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,142</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">4,178</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Non-current assets</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Property, plant and equipment</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>18,897</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">18,785</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Intangible assets</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>7,983</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">8,013</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Deferred tax assets</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>314</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">329</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Investments in associates and joint ventures</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>314</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">307</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Other non-current assets</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>576</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">629</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Goodwill</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>7,185</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">7,185</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total non-current assets</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>35,269</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">35,248</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total assets</font></TD>
	<TD align=left width="10%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>39,411</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">39,426</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">&nbsp;</TD>
	<TD align=left width="10%">
&nbsp;</TD>
	<TD width=2%>
&nbsp;</TD>
	<TD align=left width="10%">
&nbsp;</TD>
	<TD align=left width=2%>
&nbsp;</TD>
	<TD align=left width="10%">
&nbsp;</TD>
	<TD align=left width=2%>
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>LIABILITIES</B></font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Current liabilities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Trade payables and other liabilities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>3,464</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4,056</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest payable</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>154</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">134</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Dividends payable</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>432</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">415</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Current tax liabilities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>43</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">47</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Debt due within one year</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,386</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">2,106</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total current liabilities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>6,479</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">6,758</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Non-current liabilities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Long-term debt</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>12,682</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">12,721</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Deferred tax liabilities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>832</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">881</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Employee benefit obligations</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>3,180</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">2,966</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Other non-current liabilities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,297</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">1,341</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total non-current liabilities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>17,991</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">17,909</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total liabilities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>24,470</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">24,667</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">&nbsp;</TD>
	<TD align=left width="10%">
&nbsp;</TD>
	<TD width=2%>
&nbsp;</TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
&nbsp;</TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
&nbsp;</TD>
	<TD align=left width="10%">
&nbsp;</TD>
	<TD align=left width=2%>
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>EQUITY</B></font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px dotted #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Equity attributable to owners of the parent</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Preferred shares</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">9</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>3,395</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">3,115</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Common shares</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">9</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>13,540</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">13,566</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Shares subject to cancellation</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">9</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(50</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Contributed surplus</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,536</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">2,527</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Accumulated other comprehensive (loss) income</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(6</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">5</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Deficit</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(5,472</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(5,385</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total equity attributable to owners of the parent</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>13,993</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">13,778</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Non-controlling interest</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>948</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">981</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total equity</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>14,941</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">14,759</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total liabilities and equity</font></TD>
	<TD align=left width="10%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>39,411</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">39,426</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="margin-left:0px; margin-right:0px">&nbsp;</P>



<font face="Arial" size="2">






<p style="margin-top: 0; margin-bottom: 0"><font size="1" face="Arial"><b>28 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">






<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>






</font>





<P style="text-align: left;">
<font face="Arial" size="5">Consolidated Statements of Cash Flows</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE PERIOD ENDED</font></TD>
	<TD align=left width="10%">
<font size="1">&nbsp; </font> </TD>
	<TD width=2%>
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>MARCH 31,</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">MARCH 31,</font></TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">
<I>(in&nbsp;millions of Canadian dollars) (unaudited)</I></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">NOTE</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash flows from operating activities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>676</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">582</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Adjustments to reconcile net earnings to cash flows from operating activities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">5</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>19</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">61</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Depreciation and amortization</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>825</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">790</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Net employee benefit plans cost</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">8</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>42</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">47</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Net interest expense</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>203</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">189</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Income taxes</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>207</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">199</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Contributions to employee pension plans</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(86</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(354</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Payments under other employee future benefit plans</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(24</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(24</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Severance and other costs paid</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(92</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(247</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Acquisition costs paid</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(25</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(4</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Interest paid</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(180</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(167</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Income taxes paid (net of refunds)</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(104</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(8</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 36px">
<font face="Arial" size="2">Net change in operating assets and liabilities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(263</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(330</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash flows from operating activities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,198</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">734</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash flows used in investing activities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Capital expenditures</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(817</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(634</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Other investing activities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>8</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">7</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash flows used in investing activities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(809</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(627</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash flows (used in) from financing activities</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Increase in notes payable and bank advances</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>254</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">524</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Issue of long-term debt</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>11</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,002</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Repayment of long-term debt</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(85</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(76</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Issue of common shares</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>18</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">49</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Issue of preferred shares</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">9</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>280</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Issue of equity securities by subsidiaries to non-controlling interest</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">288</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Repurchase of common shares</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">9</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(107</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Cash dividends paid on common shares</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(403</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(344</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Cash dividends paid on preferred shares</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(33</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(28</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Cash dividends/distributions paid by subsidiaries to non-controlling interest</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(79</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(91</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Other financing activities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(24</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(30</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash flows (used in) from financing activities</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(167</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">1,294</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net increase in cash</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,940</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash at beginning of period</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>130</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">129</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash at end of period</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>130</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">2,069</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net increase (decrease) in cash equivalents</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>222</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(539</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash equivalents at beginning of period</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>45</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">642</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash equivalents at end of period</font></TD>
	<TD align=left width="10%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>267</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">103</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="margin-left:0px; margin-right:0px">&nbsp;</P>



<font face="Arial" size="2">





<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>2</b></font></font><font face="Arial" size="1"><b>9</b></p>






</font>





<font face="Arial" size="2">





<HR noshade size=1 color="#000000">






</font>





<P style="text-align: left;">
<font face="Arial" size="5">Notes to Consolidated Financial Statements</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">These interim consolidated financial statements should be read in conjunction with BCE&#146;s&nbsp;2011 annual consolidated financial statements, approved by BCE&#146;s board of directors on March&nbsp;8,&nbsp;2012.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<I>These notes are unaudited.</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We, us, our, BCE&nbsp;<I>and </I>the company <I>mean either BCE&nbsp;Inc. or, collectively, BCE&nbsp;Inc., its subsidiaries, joint ventures and associates; </I>Bell&nbsp;<I>means our Bell&nbsp;Wireline, Bell&nbsp;Wireless and Bell&nbsp;Media segments on an aggregate basis; and </I>Bell&nbsp;Aliant <I>means either Bell&nbsp;Aliant&nbsp;Inc. or, collectively, Bell&nbsp;Aliant&nbsp;Inc. and its subsidiaries.</I></font></P>
<P style="text-align: left;">
<font face="Arial" size="4">
<B>Note 1: Corporate Information</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">BCE&nbsp;is incorporated and domiciled in&nbsp;Canada. BCE&#146;s head office is located at 1, Carrefour Alexander-Graham-Bell, Verdun, Qu&eacute;bec,&nbsp;Canada. BCE&nbsp;is a communications and media company providing wireline, wireless, Internet and television (TV) services to residential, business and wholesale customers in&nbsp;Canada. Our Bell&nbsp;Media segment provides specialty TV, digital media, conventional TV and radio broadcasting entertainment services to customers across&nbsp;Canada. The Bell&nbsp;Media segment was formed on April&nbsp;1,&nbsp;2011, the effective date of our acquisition of the remaining 85% of common shares of CTV&nbsp;Inc. that we did not already own.</font></P>
<P style="text-align: left;">
<font face="Arial" size="4">
<B>Note 2: Basis of Presentation</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">These consolidated interim financial statements were prepared in accordance with
International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB), under International Accounting Standard (IAS) 34 &#150; Interim Financial Reporting and were approved by BCE&#146;s board of directors on May&nbsp;2,&nbsp;2012. These consolidated interim financial statements were prepared using the same basis of presentation, accounting policies and methods of computation as outlined in Note 2, <I>Significant Accounting Policies </I>as described in our consolidated financial statements for the year ended December&nbsp;31,&nbsp;2011. The consolidated interim financial statements do not include all of the notes required in annual financial statements.<br>
&nbsp;&nbsp;&nbsp;&nbsp; All amounts are in&nbsp;millions of Canadian dollars, except where noted.</font></P>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 3: Segmented Information</font></B></P>
<P style="text-align: left;">
<font face="Arial" size="2">The following tables present financial information by segment for the three months ended March&nbsp;31,&nbsp;2012 and&nbsp;2011.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">INTER-</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">INTER-</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">SEGMENT</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">SEGMENT</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE THREE MONTHS ENDED</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">ELIMINA-</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">ELIMINA-</font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">MARCH 31,&nbsp;2012</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">WIRELINE</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">WIRELESS</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">MEDIA</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">TIONS</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">ALIANT</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">TIONS</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">BCE</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating revenues</font></TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">External customers</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,500</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,308</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>478</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,286</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>623</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,909</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Inter-segment</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>79</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>12</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>34</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(78</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>47</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>59</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(106</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total operating revenues</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2,579</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,320</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>512</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(78</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,333</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>682</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(106</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>4,909</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating costs</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(1,576</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(799</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(431</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>78</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(2,728</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(360</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>106</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(2,982</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Segment profit<SUP>(1)</SUP></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,003</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>521</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>81</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,605</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>322</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>1,927</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(7</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(11</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(16</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(3</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(19</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Depreciation and amortization</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(540</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(115</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(28</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(683</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(142</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(825</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Finance costs</font></TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest expense</font></TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(204</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest on employee benefit obligations</font></TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(243</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected return on pension plan assets</font></TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>267</B></font></TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other expense</font></TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(20</B></font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
</TR>
<TR valign="bottom">
	<TD width="20%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Earnings before income taxes</font></TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>883</B></font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(1)</I></font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
<I>The chief operating decision maker uses only one measure of profit to make decisions and assess performance, being operating revenues less operating costs for the segment.</I></font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>



<font face="Arial" size="1">






<p style="margin-top: 0; margin-bottom: 0"><b>30</b></font><font face="Arial" size="2"><font size="1" face="Arial"><b> </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">






<p style="margin-top: 0; margin-bottom:0" align="right">Notes to Consolidated
Financial Statements</p>






</font>





<P style="text-align: left;">
&nbsp;</P>






<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">INTER-</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">INTER-</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">SEGMENT</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">SEGMENT</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE THREE MONTHS ENDED</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">ELIMINA-</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="1">ELIMINA-</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">MARCH 31,&nbsp;2011</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">WIRELINE</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">WIRELESS</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">TIONS</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">BELL</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">ALIANT</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">TIONS</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">BCE</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating revenues</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">External customers</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">2,597</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,244</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">3,841</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">625</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">4,466</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Inter-segment</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">75</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">7</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(41</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">41</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">57</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(98</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total operating revenues</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">2,672</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,251</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(41</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">3,882</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">682</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(98</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">4,466</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating costs</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(1,628</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(790</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">41</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(2,377</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(354</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">98</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(2,633</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Segment profit<SUP>(1)</SUP></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,044</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">461</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,505</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">328</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">1,833</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other costs</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(49</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(2</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(51</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(10</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(61</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Depreciation and amortization</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(546</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(110</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(656</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(134</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(790</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Finance costs</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest expense</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(191</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest on employee benefit obligations</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(242</font></TD>
	<TD align=left width="2%">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected return on pension plan assets</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">254</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other expense</font></TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(22</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="30%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Earnings before income taxes</font></TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">781</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(1)</I></font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
<I>The chief operating decision maker uses only one measure of profit to make decisions and assess performance, being operating revenues less operating costs for the segment.</I></font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 4: Operating Costs</font></B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE THREE MONTHS ENDED MARCH 31</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">NOTE</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Labour costs</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Wages, salaries and related taxes and benefits</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(1,016</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(886</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Pension current service costs</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">8</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(66</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(59</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Other labour costs<SUP>(1)</SUP></font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(215</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(219</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Less:</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=10% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Capitalized labour</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>209</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">191</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total labour costs</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(1,088</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(973</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cost of revenues<SUP>(2)</SUP></font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(1,449</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(1,221</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other operating costs<SUP>(3)</SUP></font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(445</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(439</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="64%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total operating costs</font></TD>
	<TD align=left width="10%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=10% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(2,982</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(2,633</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(1)</I></font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font face="Arial" size="1">
<I>Other labour costs include contractor and outsourcing costs.</I></font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(2)</I></font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
<I>Cost of revenues includes costs of wireless devices and other equipment sold, network and content costs, and payments to other carriers.</I></font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(3)</I></font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
<I>Other operating costs include marketing, advertising and sales commission costs, bad debt expense, taxes other than income taxes, information technology costs, professional service fees and rent.</I></font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 5: Severance, Acquisition and Other Costs</font></B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE THREE MONTHS ENDED MARCH 31</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance costs</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(14</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(43</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Acquisition and other costs</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(5</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(18</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total severance, acquisition and other costs</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(19</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(61</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial" size="2">
<B>SEVERANCE COSTS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Severance costs consist of employee termination charges related to involuntary and voluntary workforce reduction initiatives.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>ACQUISITION AND OTHER COSTS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Acquisition costs consist of transaction costs, such as legal and bankers&#146; fees, employee severance costs related to the purchase or sale of a business and the costs to integrate acquired companies into Bell&#146;s operations, when the integration costs are significant.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other costs consist of real estate costs for relocating employees and closing real estate facilities that are no longer needed because of workforce reduction initiatives, as well as certain other costs.</font></P>
<P style="text-align: left;">
&nbsp;</P>



<font face="Arial" size="2">





<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>31</b></font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">Notes to Consolidated
Financial Statements</p>






</font>





<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 6: Other Expense</font></B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE THREE MONTHS ENDED MARCH 31</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net mark-to-market losses on economic hedges</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(23</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(6</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Losses on disposal / retirement of software, plant and equipment</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(10</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(8</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Gains on investments</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>8</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Equity income</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>7</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">13</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Impairment of assets</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>2</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(21</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(4</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other expense</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(20</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(22</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial" size="2">
<B>IMPAIRMENT OF ASSETS</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We recognized an impairment charge of &#36;21&nbsp;million in the first quarter of&nbsp;2011 relating to our Calgary Westwinds campus that is under a finance lease, resulting from an arrangement to sublease the premises in their entirety. The charge was determined by comparing the carrying value of our leasehold interest to its fair value less costs to sell, based on the expected future discounted cash flows using a discount rate of 4.92%. The carrying value of our leasehold interest was &#36;67&nbsp;million prior to the impairment.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the first quarter of&nbsp;2012, we reduced the discount rate used to determine the fair value less costs to sell to 3.5% from 3.8% at December&nbsp;31,&nbsp;2011 to reflect lower market rates. As a result, we reduced the impairment by &#36;2&nbsp;million.</font></P>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 7: Earnings Per Share</font></B></P>
<P style="text-align: left;">
<font face="Arial" size="2">The following table shows the components used in the calculation of basic and diluted earnings per common share for earnings attributable to common shareholders.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE PERIOD ENDED MARCH 31</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings attributable to common shareholders &#150; basic</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>574</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">503</font></TD>
	<TD align=right width="2%">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends declared per common share (in dollars)</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>0.5425</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.4925</font></TD>
	<TD align=right width="2%">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Weighted average number of common shares outstanding (in&nbsp;millions)</font></TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Weighted average number of common shares outstanding &#150; basic</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>774.3</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="2">752.9</font></TD>
	<TD align=right width="2%">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Assumed exercise of stock options<SUP>(1)</SUP></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">
<B>0.4</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">0.6</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Weighted average number of common shares outstanding &#150; diluted</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">
<B>774.7</B></font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">753.5</font></TD>
	<TD align=right width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(1)</I></font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
<I>The calculation of the assumed exercise of stock options includes the effect of the average unrecognized future compensation cost of dilutive options. It does not include anti-dilutive options which are options that will not be exercised because their exercise price is higher than the average market value of a BCE&nbsp;common share. The number of excluded options was 2,645,944 in the first quarter of&nbsp;2012 and 2,833,666 in the first quarter of&nbsp;2011.</I></font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 8: Employee Benefit Plans</font></B></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>EMPLOYEE BENEFIT PLANS COST</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We provide pension and other post-employment benefits for most of our employees. These include defined benefits (DB) pension plans, defined contribution (DC) pension plans, post-employment and long-term disability benefits. The cost of these plans, including financing, is tabled below.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE THREE MONTHS ENDED MARCH 31</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">DB pension plans cost</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(8</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(20</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">DC pension plans cost</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(21</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(16</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Post-employment benefits cost</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(20</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(19</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Long-term disability cost</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(3</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(3</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Less:</font></TD>
	<TD align=left width="10%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Capitalized benefit plans cost</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>10</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">11</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net employee benefit plans cost</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(42</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(47</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
</TABLE>



<font face="Arial" size="2">





<p>&nbsp;</p>






</font>





<font face="Arial" size="1">






<p style="margin-top: 0; margin-bottom: 0"><b>32</b></font><font face="Arial" size="2"><font size="1" face="Arial"><b> </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">






<p style="margin-top: 0; margin-bottom:0" align="right">Notes to Consolidated
Financial Statements</p>






</font>





<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<B><font face="Arial">Components of DB Plans Cost</font></B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=center width="20%" colspan="4" rowspan="2" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">DB PENSION<br>
PLANS COST</font></TD>
	<TD align=center width="10%" colspan=4 rowspan="2" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">POST-EMPLOYMENT<br>
BENEFITS COST</font></TD>
	<TD align=center width="20%" colspan="4" rowspan="2" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">LONG-TERM<br>
DISABILITY COST</font></TD>
	<TD align=center width="20%" colspan="4" rowspan="2" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">TOTAL</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">FOR THE THREE MONTHS ENDED MARCH 31</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Current service cost<SUP>(1)</SUP></font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(53</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(52</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(2</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(2</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(55</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(54</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Interest on obligations</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(219</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(218</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(21</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(21</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(3</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(3</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(243</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%">
<font face="Arial" size="2">(242</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected return on plan assets</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>264</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">250</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>3</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">4</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>&#150;</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">&#150;</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>267</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">254</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="20%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Employee benefit plans cost</font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(8</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(20</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(20</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(19</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(3</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(3</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(31</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="8%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(42</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(1)</I></font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font face="Arial" size="1">
<I>Current service cost is included in operating costs in the Income Statements.</I></font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 9: Share Capital</font></B></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>ISSUANCE OF PREFERRED SHARES</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">On January&nbsp;4,&nbsp;2012, BCE&nbsp;issued an additional 11,200,000 Cumulative Redeemable First Preferred Shares, Series AK (Series AK Preferred Shares) for total gross proceeds of &#36;280&nbsp;million. Issuance costs were &#36;8&nbsp;million. As a result, 25,000,000 Series AK Preferred Shares are outstanding.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the period ending on December&nbsp;30, 2016, the Series AK Preferred Shares will pay, as and when declared by the board of directors of BCE, a quarterly fixed dividend based on an annual dividend rate of 4.15%. The Series AK Preferred Shares will, subject to certain conditions, be convertible at the holder&#146;s option into Cumulative Redeemable First Preferred Shares, Series AL, on December&nbsp;31, 2016 and on December&nbsp;31 every five years thereafter.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>2011 NORMAL COURSE ISSUER BID (NCIB) PROGRAM</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">In December&nbsp;2011, BCE&nbsp;announced its plan to repurchase up to &#36;250&nbsp;million of its outstanding common shares through a NCIB. In December&nbsp;2011, 3,500,466 common shares were repurchased for &#36;143&nbsp;million.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At December&nbsp;31,&nbsp;2011, there were 1,222,900 common shares subject to cancellation. In
January&nbsp;2012, we cancelled and paid for 142,900 common shares that were purchased in December&nbsp;2011 for a total cost of &#36;6&nbsp;million. Also in
January&nbsp;2012, we settled a &#36;44&nbsp;million liability related to an agreement with a financial institution to purchase an additional 1,080,000 common shares. All of these common shares were included in outstanding common shares as at December&nbsp;31,&nbsp;2011 and were cancelled in
January&nbsp;2012.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An additional 1,381,539 common shares were purchased and cancelled under the&nbsp;2011 NCIB for a total of &#36;57&nbsp;million during the first quarter of&nbsp;2012.<br>
&nbsp;&nbsp;&nbsp;&nbsp; The program was completed in March&nbsp;2012.</font></P>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 10: Share-Based Payments</font></B></P>
<P style="text-align: left;">
<font face="Arial" size="2">The following share-based payment amounts are included in the income statements as operating costs.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">FOR THE THREE MONTHS ENDED MARCH 31</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>2012</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Employee savings plans (ESPs)</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(8</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(5</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Restricted share units (RSUs)</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(9</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(3</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Deferred share plans &#150; Bell&nbsp;Aliant</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(4</B></font></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(2</font></TD>
	<TD align=left width=2%>
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other<SUP>(1)</SUP></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(2</B></font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(1</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Total share-based payments</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>(23</B></font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<font face="Arial" size="2">
<B>)</B></font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">(11</font></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000">
<font face="Arial" size="2">)</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(1)</I></font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
<I>Includes deferred share units (DSUs) and stock options.</I></font></P>


		</td>
	</tr>
</table>



<font face="Arial" size="2">






<p style="text-align: left">&nbsp;</p>






<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>33</b></font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">Notes to Consolidated
Financial Statements</p>






</font>





<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="2">The following tables show the change in outstanding ESPs, RSUs, DSUs and stock options for the period ended March&nbsp;31,&nbsp;2012.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>ESPs</B></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">NUMBER</font></TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">OF ESPs</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Unvested contributions, January&nbsp;1,&nbsp;2012</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">1,029,621</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Contributions</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">165,220</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends credited</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">10,330</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Vested</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">(49,099</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">)</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Forfeited</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">(44,123</font></b></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">)</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Unvested contributions, March&nbsp;31,&nbsp;2012</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">1,111,949</font></b></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial" size="2">
<B>RSUs</B></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">NUMBER</font></TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">OF RSUs</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Outstanding, January&nbsp;1,&nbsp;2012</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">1,257,523</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Granted</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">1,213,096</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends credited</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">15,348</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Settled</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">(25,878</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">)</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Forfeited</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">(26,413</font></b></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">)</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Outstanding, March&nbsp;31,&nbsp;2012</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">2,433,676</font></b></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial" size="2">
<B>DSUs</B></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">NUMBER</font></TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">OF DSUs</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Outstanding, January&nbsp;1,&nbsp;2012</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">3,351,526</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Issued</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">156,592</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends credited</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">40,782</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Settled</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">(213,159</font></b></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">)</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Outstanding, March&nbsp;31,&nbsp;2012</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">3,335,741</font></b></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>STOCK OPTIONS</B></font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">WEIGHTED</font></TD>
	<TD align=right width="2%">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="1">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">AVERAGE</font></TD>
	<TD align=right width="2%">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">NUMBER OF</font></TD>
	<TD align=left width=2%>
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%">
<font face="Arial" size="1">EXERCISE</font></TD>
	<TD align=right width="2%">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">OPTIONS</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">PRICE (&#36;)</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Outstanding, January&nbsp;1,&nbsp;2012</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">4,027,309</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;33</font></b></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Granted</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">2,635,084</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;40</font></b></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Exercised<SUP>(1)</SUP></font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">(617,146</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">)</font></b></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;29</font></b></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expired</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">(4,850</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">)</font></b></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;28</font></b></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Forfeited</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">(43,652</font></b></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">)</font></b></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;35</font></b></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Outstanding, March&nbsp;31,&nbsp;2012</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">5,996,745</font></b></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;37</font></b></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Exercisable, March&nbsp;31,&nbsp;2012</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">1,100,638</font></b></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;31</font></b></TD>
	<TD align=right width="2%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
<I>(1)</I></font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
<I>The weighted average share price for options exercised during the quarter was &#36;41.</I></font></P>


		</td>
	</tr>
</table>



<font face="Arial" size="2">





<p align="right">
&nbsp;</p>






</font>





<font face="Arial" size="1">






<p style="margin-top: 0; margin-bottom: 0"><b>3</b></font><font face="Arial" size="2"><font size="1" face="Arial"><b>4 </b>&nbsp;BCE&nbsp;INC.&nbsp; <b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT</font></p>

<HR noshade size=1 color="#000000">






<p style="margin-top: 0; margin-bottom:0" align="right">Notes to Consolidated
Financial Statements</p>






</font>





<P style="text-align: left;">
<font face="Arial">
<B>Assumptions Used in Stock Option Pricing Model</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The fair value of options granted was determined using a variation of a binomial option pricing model that takes into account factors specific to the share incentive plans, such as the vesting period. The following table shows the principal assumptions used in the valuation.</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="88%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2012</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Weighted average fair value per option granted (&#36;)</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;3</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Weighted average share price (&#36;)</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;40</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Weighted average exercise price (&#36;)</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">&#36;40</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividend yield</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">5.4%</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected volatility</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">21%</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Risk-free interest rate</font></TD>
	<TD align=right width="10%" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">1.4%</font></b></TD>
	<TD align=left width=2% bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp;</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="88%" style="border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected life (years)</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font face="Arial" size="2">4.5</font></b></TD>
	<TD align=left width=2% style="border-bottom: 3px double #000000" bgcolor="#C0C0C0">
<b>
<font size="2">&nbsp; </font> </b> </TD>
</TR>
</TABLE>

<P style="text-align: left;">
<font face="Arial" size="2">Expected volatilities are based on the historical volatility of BCE&#146;s share price. The risk-free rate used is equal to the yield available on Government of&nbsp;Canada bonds at the date of grant with a term equal to the expected life of the options.</font></P>
<P style="text-align: left;">
<B><font face="Arial" size="4">Note 11: Commitments and Contingencies</font></B></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>ACQUISITION OF ASTRAL MEDIA INC. (ASTRAL)</B></font></P>
<P style="text-align: left;">
<font face="Arial" size="2">On March&nbsp;16,&nbsp;2012, BCE&nbsp;announced the signing of a definitive agreement to acquire all of the issued and outstanding shares of Montr&eacute;al-based Astral. Astral is a media company that operates specialty and pay television channels, radio stations, digital media properties and out-of-home advertising platforms in Qu&eacute;bec and across the rest of&nbsp;Canada. The transaction is valued at approximately &#36;3.38 billion, including net debt of &#36;380&nbsp;million, and is expected to be funded with a combination of cash (approximately 75% of the equity purchase price) and BCE&nbsp;common equity (approximately 25% or &#36;750&nbsp;million), with BCE&nbsp;retaining the right to replace common equity with cash, in whole or in part, at closing. To fund the proposed acquisition, BCE&nbsp;has secured a new, three-year committed credit facility in the amount of up to &#36;3.5 billion. The transaction is expected to close in the second half of&nbsp;2012, following required shareholder, court and regulatory approvals. Astral&#146;s results will be consolidated and reported in the Bell&nbsp;Media segment.</font></P>
<P style="text-align: left;">
<b><font face="Arial" size="2">MAPLE LEAF SPORTS &amp; ENTERTAINMENT LTD. (MLSE)
INVESTMENT</font></b></P>
<P style="text-align: left;">
<font face="Arial" size="2">On December 9, 2011, BCE announced it had, in a
joint ownership arrangement with Rogers Communications Inc. (Rogers), agreed to
purchase a net 75% ownership position in MLSE from Ontario Teachers&#146; Pension
Plan Board. BCE&#146;s cash commitment will total $525&nbsp;million (or $398&nbsp;million
assuming the completion of a leveraged recapitalization of MLSE), representing
a 28% indirect equity interest in MLSE. Through a co-investment arrangement with
BCE, the BCE Master Trust Fund, an independent trust that holds and manages
pension fund investments for the BCE group pension plans, will contribute $135
million toward the MLSE acquisition. BCE and the BCE Master Trust Fund will own
an aggregate 37.5% interest in MLSE, equal to Rogers&#146; interest. On May 2,
2012, the Competition Bureau issued a no-action letter confirming the
Commissioner of Competition did not, at this time, intend to challenge such
transaction. The transaction is expected to close in mid-2012 following
required Canadian Radio-television and Telecommunications Commission and sports
league approvals.</font></P>
<P style="text-align: left;">
&nbsp;</P>



<font face="Arial" size="2">





<p style="margin-top: 0; margin-bottom: 0" align="right">
<font size="1" face="Arial">BCE&nbsp;INC.&nbsp;
<b>Q1&nbsp;2012</b>&nbsp; QUARTERLY REPORT&nbsp; <b>35</b></font></p>

<HR noshade size=1 color="#000000">




<p style="margin-top: 0; margin-bottom:0" align="left">&nbsp;</p>






</font>





<p style="margin-top: 0; margin-bottom: 0" align="left">&nbsp;</p>
<p style="margin-top: 0; margin-bottom: 0" align="left">&nbsp;</p>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse">
	<tr>
		<td width="3%" valign="top" style="border-left: 1px dotted #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">&nbsp;</td>
		<td width="97%" valign="top">
		<P style="text-align: left;">
<font face="Arial" size="2">This document has been filed by BCE&nbsp;Inc.<BR>
with&#160;Canadian securities commissions and<BR>
the&#160;U.S. Securities and Exchange Commission.<BR>
It&#160;can&#160;be found on BCE&nbsp;Inc.&#146;s website at
www.bce.ca, <br>
on SEDAR at www.sedar.com
and&#160;on EDGAR at <br>
www.sec.gov or is available
upon request from:<BR>
<BR>
<B>Investor Relations</B><BR>
Building A, 8th floor<BR>
1 Carrefour Alexander-Graham-Bell<BR>
Verdun, Qu&#233;bec<BR>
H3E 3B3<BR>
www.bce.ca<BR>
<BR>
e-mail: investor.relations@bce.ca<BR>
tel: 1-800-339-6353<BR>
fax: 514-786-3970<BR>
For additional copies of these statements,<BR>
please&#160;contact&#160;investor relations.<BR>
<BR>
For further information concerning the Dividend<BR>
Reinvestment and Stock Purchase Plan
(DRP), <br>
direct&#160;deposit of dividend payments,
the&#160;elimination <br>
of multiple mailings or the
receipt of quarterly <br>
reports,&#160;please contact:<BR>
<BR>
Canadian Stock Transfer Company&nbsp;Inc.<BR>
320 Bay Street<BR>
3rd floor<BR>
Toronto, Ontario<BR>
M5H 4A6<BR>
tel: 416-360-7725<BR>
or 1-800-561-0934<BR>
fax: 416-643-5501<BR>
or 1-888-249-6189<BR>
e-mail: bce@canstockta.com<BR>
<BR>
Pour obtenir un exemplaire de la
version&#160;fran&ccedil;aise <br>
de&#160;ce document, contactez
les Relations avec <br>
les&#160;investisseurs.</font></P>
<P style="text-align: left;">
<font face="Arial" size="1">PRINTED IN CANADA / 12-05 BCE-1E</font></P></td>
	</tr>
</table>






</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>supp_q112.htm
<DESCRIPTION>SUPPLEMENTARY FINANCIAL INFORMATION - FIRST QUARTER 2012
<TEXT>


<HTML>
<HEAD>
   <TITLE>Supplementary Financial Information</TITLE>
   <meta equiv="Content-Type" content="text/html; charset=windows-1252">
</HEAD>

<BODY bgcolor="#ffffff">




<P style="text-align: right;">
<font face="Arial" size="2">EXHIBIT 99.2</font></P>
<P style="text-align: center;">
<img border="0" src="suppcover.jpg" width="917" height="680"></P>
<P style="text-align: right;">
&nbsp;</P><hr noshade color="#000000" size="1">
<P style="text-align: right;">
&nbsp;</P>
<P style="text-align: right;">
&nbsp;</P>
<P style="text-align: right;">
<B>BCE Inc. <SUP>(1)</SUP><br>
Consolidated Operational Data</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="63%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except per share amounts) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<B><font size="2">Q1<br>
2012</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36; change</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">% change</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Operating revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">4,909</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4,466</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">443</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">9.9</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Operating costs <SUP>(A)</SUP>&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(2,916</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2,574</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(342</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(13.3</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Pension current service costs&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(66</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(59</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(7</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(11.9</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">EBITDA </font> </B><font size="2"><B><SUP>(3)</SUP></B>&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">1,927</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,833</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">94</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5.1</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><I><font size="2">EBITDA margin </font> </I></B><font size="2"><B><SUP>(4)</SUP></B>&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">39.3</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">41.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(1.7</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Severance, acquisition and other costs&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(19</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(61</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">42</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">68.9</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Depreciation&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(644</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(611</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(33</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(5.4</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Amortization&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(181</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(179</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(1.1</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Finance costs&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 24px">
<I><font size="2">Interest expense</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(204</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(191</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(13</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(6.8</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 24px">
<I><font size="2">Interest on employee benefit obligations</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(243</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(242</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(0.4</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Expected return on pension plan assets&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">267</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">254</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">13</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5.1</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Other expense&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(20</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(22</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">9.1</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Earnings before income taxes</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">883</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">781</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">102</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">13.1</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Income taxes&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(207</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(199</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(8</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(4.0</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net earnings</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">676</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">582</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">94</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">16.2</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net earnings attributable to:</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Common shareholders&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">574</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">503</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">71</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">14.1</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Preferred shareholders&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">35</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">29</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">20.7</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Non-controlling interest&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">67</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">50</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">17</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">34.0</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net earnings</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">676</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">582</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">94</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">16.2</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net earnings per common share&nbsp;&#150;&nbsp;basic&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">0.74</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.67</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.07</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">10.4</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net earnings per common share&nbsp;&#150;&nbsp;diluted&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">0.74</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.67</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.07</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">10.4</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Dividends per common share</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">0.5425</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.4925</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.05</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">10.2</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Average number of common shares outstanding&nbsp;&#150;&nbsp;basic (millions)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">774.3</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">752.9</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Average number of common shares outstanding&nbsp;&#150;&nbsp;diluted (millions)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">774.7</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">753.5</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Number of common shares outstanding (millions)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">773.6</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">754.1</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<B><font size="2">Adjusted Net Earnings and EPS</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net earnings attributable to common shareholders</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">574</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">503</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">71</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">14.1</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Severance, acquisition and other costs&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">14</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">40</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(26</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(65.0</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net gains on investments&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(8</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">-</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(8</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Adjusted net earnings attributable to common shareholders<sup>
(3)</sup></font></B></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">580</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">543</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">37</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6.8</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Impact on net earnings per share</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">0.01</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.05</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(0.04</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(80.0</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<B><font size="2">Adjusted EPS </font> </B><font size="2"><B><SUP>(3)</SUP></B>&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">0.75</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.72</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.03</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">4.2</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="63%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="3%">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table1">
	<tr>
		<td width="2%" valign="top"><font size="1">(A)</font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font size="1">Excludes pension current service costs </font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="2" valign="top"><font size="1">n.m. : not
		meaningful</font></td>
	</tr>
</table>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page 2</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>BCE Inc.<br>
Consolidated Operational Data&nbsp;&#150;&nbsp;Historical Trend</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="43%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except per share amounts) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Q1 12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Total<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q4 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q3 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q2 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Operating revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">4,909</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">19,497</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5,166</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4,910</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4,955</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4,466</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Operating costs <SUP>(A)</SUP>&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(2,916</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(11,627</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(3,238</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2,907</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2,908</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2,574</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Pension current service costs&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(66</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(241</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(59</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(62</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(61</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(59</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">EBITDA</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">1,927</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">7,629</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,869</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,941</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,986</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,833</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><I><font size="2">EBITDA margin</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">39.3</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.5</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">40.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">41.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Severance, acquisition and other costs&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(19</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(409</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(130</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(219</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(61</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Depreciation&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(644</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2,538</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(661</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(628</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(638</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(611</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Amortization&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(181</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(723</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(181</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(180</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(183</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(179</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Finance costs&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 24px">
<I><font size="2">Interest expense</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(204</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(842</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(215</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(210</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(226</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(191</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 24px">
<I><font size="2">Interest on employee benefit obligations</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(243</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(984</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(248</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(247</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(247</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(242</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Expected return on pension plan assets&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">267</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,032</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">260</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">259</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">259</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">254</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Other (expense) income&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(20</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">129</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(5</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">145</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(22</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Earnings before income taxes</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">883</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3,294</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">820</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">816</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">877</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">781</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Income taxes&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(207</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(720</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(247</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(80</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(194</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(199</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net earnings</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">676</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,574</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">573</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">736</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">683</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">582</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net earnings attributable to:</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Common shareholders&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">574</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,221</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">486</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">642</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">590</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">503</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Preferred shareholders&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">35</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">119</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">26</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">33</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">31</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">29</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Non-controlling interest&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">67</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">234</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">61</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">61</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">62</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">50</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net earnings</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">676</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,574</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">573</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">736</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">683</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">582</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net earnings per common share&nbsp;&#150;&nbsp;basic&nbsp;</font></TD>
	<TD align=right width="1%">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">0.74</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">2.88</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.62</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.83</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.76</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.67</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net earnings per common share&nbsp;&#150;&nbsp;diluted&nbsp;</font></TD>
	<TD align=right width="1%">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">0.74</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">2.88</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.62</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.83</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.76</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.67</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Dividends per common share</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">0.5425</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">2.0450</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.5175</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.5175</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.5175</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.4925</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Average number of common shares outstanding&nbsp;&#150;&nbsp;basic (millions)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">774.3</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">771.4</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">778.1</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">777.6</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">776.6</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">752.9</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Average number of common shares outstanding&nbsp;&#150;&nbsp;diluted (millions)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">774.7</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">771.8</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">778.7</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">778.2</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">777.1</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">753.5</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Number of common shares outstanding (millions)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">773.6</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">775.4</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">775.4</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">778.0</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">777.5</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">754.1</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<B><font size="2">Adjusted Net Earnings and EPS</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net earnings attributable to common shareholders</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">574</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,221</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">486</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">642</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">590</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">503</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Severance, acquisition and other costs&nbsp;</font></TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">14</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">282</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">82</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">162</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">40</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net gains on investments&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(8</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(89</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">-</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">-</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(89</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">-</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Adjusted net earnings attributable to common shareholders</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">580</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,414</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">484</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">724</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">663</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">543</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Impact on net earnings per share</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">0.01</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.25</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">-</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.10</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.10</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.05</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="43%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<B><font size="2">Adjusted EPS</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">&#36;</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">0.75</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">3.13</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.62</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.93</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.86</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">0.72</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table2">
	<tr>
		<td width="2%" valign="top"><font size="1">(A)</font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font size="1">Excludes pension current service costs</font></P></td>
	</tr>
</table>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
3</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>BCE Inc.<br>
Segmented Data <SUP>
(2)</SUP></B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="66%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<B><font size="2">Q1<br>
2012</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36; change</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">% change</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="66%">
&nbsp;</TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="3%">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="66%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">2,579</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,672</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(93</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(3.5</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,320</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,251</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">69</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5.5</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Media</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">512</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">512</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<font size="2">Inter-segment eliminations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(78</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(41</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(37</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(90.2</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">4,333</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">3,882</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">451</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">11.6</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Aliant</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">682</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">682</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">0.0</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<font size="2">Inter-segment eliminations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(106</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(98</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(8</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(8.2</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total BCE Inc.</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-bottom: 3px double #000000; ">
<B><font size="2">4,909</font></B></TD>
	<TD align=left width="2%" style="border-right: 1px solid #000000; border-bottom: 3px double #000000; ">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">4,466</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-bottom: 3px double #000000">
<font size="2">443</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">9.9</font></TD>
	<TD align=left width="3%" style="border-bottom: 3px double #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="66%">
&nbsp;</TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="3%">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="66%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Operating costs</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(1,576</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(1,628</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">52</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3.2</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(799</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(790</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(9</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(1.1</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Media</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(431</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(431</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<font size="2">Inter-segment eliminations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">78</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">41</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">37</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">90.2</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(2,728</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(2,377</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(351</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(14.8</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Aliant</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(360</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(354</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(6</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(1.7</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<font size="2">Inter-segment eliminations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">106</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">98</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">8</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">8.2</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total BCE Inc.</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000; ">
<B><font size="2">(2,982</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 3px double #000000; ">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">(2,633</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-bottom: 3px double #000000">
<font size="2">(349</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">(13.3</font></TD>
	<TD align=left width="3%" style="border-bottom: 3px double #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="66%">
&nbsp;</TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="3%">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="66%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">EBITDA</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,003</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,044</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(41</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(3.9</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px">
<B><I><font size="2">38.9</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(0.2</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">521</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">461</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">60</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">13.0</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px">
<B><I><font size="2">39.5</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">2.6</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">&nbsp;pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Media</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">81</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<I><font size="2">-</font></I></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">81</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">15.8</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">n.m.</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">1,605</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,505</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">100</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">6.6</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px">
<B><I><font size="2">37.0</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">38.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(1.8</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Aliant</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">322</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">328</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">(6</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">(1.8</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<B><I><font size="2">47.2</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">48.1</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">(0.9</font></I></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total BCE Inc.</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000; ">
<B><font size="2">1,927</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 3px double #000000; ">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">1,833</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-bottom: 3px double #000000">
<font size="2">94</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">5.1</font></TD>
	<TD align=left width="3%" style="border-bottom: 3px double #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px">
<B><I><font size="2">39.3</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">41.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(1.7</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Capital expenditures</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1% bgcolor="#C0C0C0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">532</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">402</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(130</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(32.3</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity </font> </I><font size="2"><I><SUP>(5)</SUP></I>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px">
<B><I><font size="2">20.6</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">15.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(5.6</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">136</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">113</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(23</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(20.4</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px">
<B><I><font size="2">10.3</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">9.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(1.3</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Media</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(12</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<B><font size="2">2.3</font></B></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<B><font size="2">%</font></B></i><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">n.m.</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">680</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">515</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(165</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(32.0</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px">
<B><I><font size="2">15.7</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">13.3</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(2.4</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Aliant</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">137</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">119</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(18</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(15.1</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<B><I><font size="2">20.1</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">17.4</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">(2.7</font></I></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total BCE Inc.</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">817</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">634</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">(183</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(28.9</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000; ">
<p style="margin-right: -2px">
<B><I><font size="2">16.6</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 3px double #000000; ">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<p style="margin-right: -2px">
<I><font size="2">14.2</font></I></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="2">&nbsp;</font></TD>
	<TD align=left width=6% style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<p style="margin-right: -2px">
<I><font size="2">(2.4</font></I></TD>
	<TD align=left width="3%" style="border-bottom: 3px double #000000">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="66%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width=1%>
<font size="1">&nbsp;</font></TD>
	<TD align=left width=6%>
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="3%">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px"><font size="2">&nbsp;</font></P>
<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
4</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>BCE Inc.<br>
Segmented Data&nbsp;&#150;&nbsp;Historical Trend</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Q1 12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Total<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q4 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q3 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q2 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="50%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">2,579</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">10,621</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,709</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,610</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,630</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,672</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1,320</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5,231</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,365</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,339</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,276</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,251</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Media</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">512</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,542</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">578</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">435</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">529</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<font size="2">Inter-segment eliminations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(78</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(261</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(76</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(71</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(73</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(41</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">4,333</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">17,133</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">4,576</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">4,313</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">4,362</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">3,882</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Aliant</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">682</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,775</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">701</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">700</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">692</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">682</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<font size="2">Inter-segment eliminations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(106</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(411</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(111</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(103</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(99</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(98</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total BCE Inc.</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<B><font size="2">4,909</font></B></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">19,497</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">5,166</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">4,910</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">4,955</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">4,466</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="50%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Operating costs</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(1,576</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(6,466</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,712</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(1,567</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(1,559</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(1,628</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(799</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(3,408</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(944</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(858</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(816</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(790</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Media</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(431</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,208</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(448</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(354</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(406</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<font size="2">Inter-segment eliminations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">78</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">261</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">76</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">71</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">73</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">41</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(2,728</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(10,821</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(3,028</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(2,708</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(2,708</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(2,377</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Aliant</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(360</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,458</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(380</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(364</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(360</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(354</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<font size="2">Inter-segment eliminations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">106</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">411</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">111</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">103</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">99</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">98</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total BCE Inc.</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<B><font size="2">(2,982</font></B></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">(11,868</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">(3,297</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">(2,969</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">(2,969</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">(2,633</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="50%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">EBITDA</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1,003</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4,155</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">997</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,043</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,071</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,044</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">38.9</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">40.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">40.7</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">521</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,823</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">421</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">481</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">460</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">461</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">39.5</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">34.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">30.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">35.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Media</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">81</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">334</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">130</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">81</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">123</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<B><font size="2">15.8</font></B></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<B><font size="2">%</font></B></i><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">21.7</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">%&nbsp;</font></i></TD>
	<TD width="1%">
<i>
<font size="2">&nbsp; </font> </i> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">22.5</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">%&nbsp;</font></i></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">18.6</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">%&nbsp;</font></i></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">23.3</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">%&nbsp;</font></i></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">n.m.</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">&nbsp; </font> </i> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">1,605</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">6,312</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,548</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,605</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,654</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,505</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">37.0</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">33.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">37.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">37.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">38.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Aliant</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">322</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,317</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">321</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">336</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">332</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">328</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<B><I><font size="2">47.2</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">47.5</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">45.8</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">48.0</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">48.0</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">48.1</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total BCE Inc.</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<B><font size="2">1,927</font></B></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">7,629</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">1,869</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">1,941</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">1,986</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<font size="2">1,833</font></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">39.3</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.5</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">40.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">41.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Capital expenditures</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">532</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,973</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">647</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">474</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">450</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">402</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">20.6</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">18.6</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">23.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">18.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">17.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">15.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">136</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">619</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">188</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">150</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">168</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">113</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">10.3</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">11.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">13.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">11.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">13.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">9.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Media</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">12</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">91</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">36</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">28</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">27</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<B><I><font size="2">2.3</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">5.9</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">%&nbsp;</font></i></TD>
	<TD width="1%">
<i>
<font size="2">&nbsp; </font> </i> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">6.2</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">%&nbsp;</font></i></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">6.4</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">%&nbsp;</font></i></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">5.1</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">%&nbsp;</font></i></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px"><i>
<font size="2">n.m.</font></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<i>
<font size="2">&nbsp; </font> </i> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">680</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,683</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">871</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">652</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">645</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">515</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">15.7</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">15.7</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">19.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">15.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">14.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">13.3</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<B><font size="2">Bell Aliant</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">137</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">573</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">137</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">162</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">155</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">119</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<B><I><font size="2">20.1</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">20.6</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">19.5</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">23.1</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">22.4</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">17.4</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total BCE Inc.</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">817</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3,256</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,008</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">814</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">800</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">634</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 36px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<p style="margin-right: -2px">
<B><I><font size="2">16.6</font></I></B></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<p style="margin-right: -2px">
<I><font size="2">16.7</font></I></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<p style="margin-right: -2px">
<I><font size="2">19.5</font></I></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<p style="margin-right: -2px">
<I><font size="2">16.6</font></I></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<p style="margin-right: -2px">
<I><font size="2">16.1</font></I></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-bottom: 3px double #000000">
<p style="margin-right: -2px">
<I><font size="2">14.2</font></I></TD>
	<TD align=left width="2%" style="border-bottom: 3px double #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>


<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
5</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>Bell Wireline<sup>(2)</sup></B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="74%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<B><font size="2">Q1<br>
2012</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">% change</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Local &amp; access&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">678</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">729</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(7.0</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Long distance&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">212</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">234</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(9.4</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Data <SUP>(A)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,418</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,415</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">0.2</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Equipment &amp; other&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">192</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">219</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(12.3</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Total external revenues&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">2,500</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,597</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(3.7</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Inter-segment revenues&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">79</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">75</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5.3</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell Wireline operating revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">2,579</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,672</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(3.5</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Operating costs&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(1,576</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(1,628</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">3.2</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">EBITDA</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,003</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,044</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(3.9</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">EBITDA Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px">
<B><I><font size="2">38.9</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(0.2</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="74%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="3%">
<font size="1">&nbsp;</font></TD>
</tr>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">532</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">402</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(32.3</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px"><i>
<B><font size="2">20.6</font></B></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<i>
<B><font size="2">%&nbsp;</font></B></i></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">15.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(5.6</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="74%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="3%">
<font size="1">&nbsp;</font></TD>
</tr>
<TR valign="bottom">
	<TD align=left width="74%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Local</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Network access services (NAS)&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Residential&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">3,205,002</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3,544,600</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(9.6</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Business&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">2,800,124</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,871,862</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(2.5</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Total&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">6,005,126</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6,416,462</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(6.4</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Network access service net (losses)/activations&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Residential&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(71,119</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(64,287</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(10.6</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Business&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(25,411</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5,044</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Total&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(96,530</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(59,243</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(62.9</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Internet</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">High Speed Internet net activations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">12,393</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">13,161</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(5.8</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">High Speed Internet subscribers EOP <SUP>(B)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">2,104,192</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,110,487</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(0.3</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">TV</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net subscriber activations <SUP>(C)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">17,623</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">8,058</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Total subscribers EOP <sup>(C) (D)</sup>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">2,111,675</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,043,416</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3.3</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table3">
	<tr>
		<td width="2%" valign="top"><font size="1">(A)</font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font size="1">Starting in Q1 2012, we have included TV service revenues in data revenues to align with the reporting practices of our peers. As a result, we have restated prior period results within Bell Wireline. Our previously reported Wireline segment and consolidated results did not change as a result of this restatement.</font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table4">
	<tr>
		<td width="2%" valign="top"><font size="1">(B)</font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font size="1">At the beginning of 2012, our high-speed Internet subscriber base was reduced by 20,953 customers to reflect the decommissioning of our WiMax network and our decision to shut down our cable TV business in Montr&#233;al in 2012.</font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table5">
	<tr>
		<td width="2%" valign="top"><font size="1">(C)</font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font size="1">Our TV customer base was increased by 15,260 customers to include the cable operations of Northwestel at the beginning of Q1 2011</font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table6">
	<tr>
		<td width="2%" valign="top"><font size="1">(D)</font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font size="1">At the beginning of 2012, our TV subscriber base was reduced by 9,527 customers following our decision to shut down our cable TV business in Montr&#233;al in 2012.</font></P>


		</td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
6</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>Bell Wireline&nbsp;&#150;&nbsp;Historical Trend</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Q1 12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Total<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q4 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q3 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q2 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Bell Wireline</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Local &amp; access&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">678</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">2,852</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">687</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">710</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">726</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">729</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Long distance&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">212</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">903</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">219</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">223</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">227</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">234</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Data <SUP>(A)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1,418</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">5,642</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,450</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,384</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,393</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,415</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Equipment &amp; other&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">192</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">911</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">272</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">212</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">208</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">219</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Total external revenues&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">2,500</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">10,308</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,628</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,529</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,554</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,597</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Inter-segment revenues&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">79</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">313</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">81</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">81</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">76</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">75</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell Wireline operating revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">2,579</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">10,621</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,709</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,610</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,630</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,672</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Operating costs&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(1,576</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(6,466</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(1,712</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(1,567</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(1,559</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(1,628</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">EBITDA</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1,003</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">4,155</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">997</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,043</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,071</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,044</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">EBITDA Margin</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">38.9</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<p style="margin-right: -2px">
<I><font size="2">39.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">40.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">40.7</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="50%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
</tr>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">532</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">1,973</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">647</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">474</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">450</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">402</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">Capital Intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">20.6</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<p style="margin-right: -2px">
<I><font size="2">18.6</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">23.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">18.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">17.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">15.0</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="50%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
</tr>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Local</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Network access services (NAS)&nbsp;</font></TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Residential&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">3,205,002</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">3,276,121</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3,276,121</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3,365,854</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3,461,121</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3,544,600</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Business&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">2,800,124</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,825,535</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,825,535</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,839,482</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,854,844</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,871,862</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Total&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">6,005,126</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">6,101,656</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6,101,656</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6,205,336</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6,315,965</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6,416,462</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Network access service net (losses)/activations&nbsp;</font></TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Residential&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(71,119</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">(332,766</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(89,733</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(95,267</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(83,479</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(64,287</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Business&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(25,411</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(41,283</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(13,947</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(15,362</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(17,018</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5,044</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Total&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(96,530</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">(374,049</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(103,680</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(110,629</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(100,497</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(59,243</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Internet</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">High Speed Internet net activations&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">12,393</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">15,426</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,091</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(101</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">1,275</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">13,161</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">High Speed Internet subscribers EOP <SUP>(B)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">2,104,192</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">2,112,752</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,112,752</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,111,661</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,111,762</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,110,487</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">TV</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net subscriber activations <SUP>(C)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">17,623</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">68,221</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">27,702</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">26,169</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6,292</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">8,058</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Total subscribers EOP <sup>(C) (D)</sup>&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">2,111,675</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">2,103,579</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,103,579</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,075,877</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,049,708</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,043,416</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table7">
	<tr>
		<td width="2%" valign="top"><font size="1">(A)</font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font size="1">Starting in Q1 2012, we have included TV service revenues in data revenues to align with the reporting practices of our peers. As a result, we have restated prior period results within Bell Wireline. Our previously reported Wireline segment and consolidated results did not change as a result of this restatement.</font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table8">
	<tr>
		<td width="2%" valign="top"><font size="1">(B)</font></td>
		<td width="98%" valign="top"><font size="1">At the beginning of 2012, our high-speed Internet subscriber base was reduced by 20,953 customers to reflect the decommissioning of our WiMax network and our decision to shut down our cable TV business in Montr&#233;al in 2012. </font>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table9">
	<tr>
		<td width="2%" valign="top"><font size="1">(C)</font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font size="1">Our TV customer base was increased by 15,260 customers to include the cable operations of Northwestel at the beginning of Q1 2011 </font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table10">
	<tr>
		<td width="2%" valign="top"><font size="1">(C)</font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font size="1">At the beginning of 2012, our TV subscriber base was reduced by 9,527 customers following our decision to shut down our cable TV business in Montr&#233;al in 2012.</font></P>


		</td>
	</tr>
</table>
<p style="text-align: left">&nbsp;</p>
<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
7</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>Bell Wireless<sup>(2)</sup></B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="74%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<B><font size="2">Q1<br>
2012</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">% change</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=6% bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Revenue</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=6%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Service&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,214</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">1,145</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6.0</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Product&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">94</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">99</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(5.1</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total external Bell Wireless revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,308</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">1,244</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5.1</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Inter-segment&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">7</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">71.4</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell Wireless operating revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,320</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">1,251</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5.5</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Operating costs&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(799</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(790</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(1.1</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">EBITDA</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">521</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">461</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">13.0</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">EBITDA margin (Total revenues)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px"><i>
<B><font size="2">39.5</font></B></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<i>
<B><font size="2">%&nbsp;</font></B></i></TD>
	<TD align=right width=6%>
<p style="margin-right: -2px">
<I><font size="2">36.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">2.6</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">&nbsp;pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">EBITDA margin (Service revenues)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-right: -2px"><i>
<B><font size="2">42.9</font></B></i></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<i>
<B><font size="2">%&nbsp;</font></B></i></TD>
	<TD align=right width=6%>
<p style="margin-right: -2px">
<I><font size="2">40.3</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">2.6</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">&nbsp;pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<font size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">136</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">113</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(20.4</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">Capital intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<B><I><font size="2">10.3</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">9.0</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">(1.3</font></I></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Wireless gross activations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">388,146</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">423,799</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(8.4</font></TD>
	<TD align=left width="3%">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Postpaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">293,572</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">299,657</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(2.0</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Wireless net activations&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(21,327</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">5,292</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">n.m.</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Postpaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">62,576</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">80,648</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(22.4</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Wireless subscribers EOP&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">7,406,155</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">7,247,340</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2.2</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Postpaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">6,037,742</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5,622,017</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">7.4</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Average revenue per unit (ARPU)(&#36;/month)<SUP>(6)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">53.84</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">51.68</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4.2</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Churn (%) (average per month) <SUP>(7)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1.8</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">1.9</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">0.1</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">&nbsp;pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Prepaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">3.9</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="2">3.7</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">(0.2</font></I></TD>
	<TD align=left width="3%">
<I><font size="2">) pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Postpaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">1.4</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1.4</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">0.0</font></I></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">&nbsp;pts</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="74%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Usage per subscriber (min/month)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">285</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6%>
<font size="2">256</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">11.3</font></TD>
	<TD align=left width="3%">
<font size="2">%&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="74%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Cost of acquisition (COA) <SUP>(8) </SUP>(&#36;/sub)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">399</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=6% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">366</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(9.0</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</tr>
<TR valign="bottom">
	<TD align=left width="74%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width=6%>
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="3%">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>


<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
8</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>Bell Wireless&nbsp;&#150;&nbsp;Historical Trend</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Q1 12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Total<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q4 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q3 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q2 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Bell Wireless</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Revenue</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Service&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1,214</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4,769</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,222</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,228</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,174</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,145</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Product&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">94</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">422</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">129</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">102</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">92</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">99</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total external Bell Wireless revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1,308</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5,191</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,351</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,330</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,266</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,244</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Inter-segment&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">40</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">14</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">9</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">10</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">7</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total Bell Wireless operating revenues</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1,320</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5,231</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,365</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,339</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,276</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,251</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Operating costs&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(799</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(3,408</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(944</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(858</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(816</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(790</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">EBITDA</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">521</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,823</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">421</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">481</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">460</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">461</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">EBITDA margin (Total revenues)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">39.5</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">34.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">30.8</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">35.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.1</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">36.9</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">EBITDA margin (Service revenues)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<B><I><font size="2">42.9</font></I></B></TD>
	<TD align=left width="2%">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">38.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">34.5</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">39.2</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-right: -2px">
<I><font size="2">40.3</font></I></TD>
	<TD align=left width="2%">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<font size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">136</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">619</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">188</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">150</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">168</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">113</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">Capital intensity</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<B><I><font size="2">10.3</font></I></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><I><font size="2">%</font></I></B><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">11.8</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">13.8</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">11.2</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">13.2</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="margin-right: -2px">
<I><font size="2">9.0</font></I></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<I><font size="2">%</font></I><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Wireless gross activations&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">388,146</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,936,396</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">511,917</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">525,780</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">474,900</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">423,799</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Postpaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">293,572</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,402,965</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">389,317</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">372,346</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">341,645</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">299,657</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Wireless net activations&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(21,327</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">185,434</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">57,886</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">85,749</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">36,507</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">5,292</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Postpaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">62,576</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">433,797</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">131,986</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">126,854</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">94,309</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">80,648</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Wireless subscribers EOP&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">7,406,155</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">7,427,482</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">7,427,482</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">7,369,596</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">7,283,847</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">7,247,340</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Postpaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">6,037,742</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5,975,166</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5,975,166</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5,843,180</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5,716,326</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">5,622,017</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Average revenue per unit (ARPU)(&#36;/month)&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">53.84</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">53.55</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">54.50</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">55.01</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">52.99</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">51.68</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Churn (%)(average per month)&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1.8</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2.0</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2.1</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">2.0</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">2.0</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">1.9</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Prepaid&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">3.9</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3.9</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4.2</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">3.9</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">3.7</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">3.7</font></TD>
	<TD align=left width="2%">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Postpaid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">1.4</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1.5</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1.5</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1.5</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1.5</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1.4</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Usage per subscriber (min/month)&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">285</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">283</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">299</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">291</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">282</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">256</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="50%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Cost of acquisition (COA)(&#36;/sub)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">399</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">403</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">450</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">392</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">400</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">366</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>


<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
9</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>BCE Inc.<br>
Net debt and other information</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">BCE Inc.&nbsp;&#150;&nbsp;Net debt and preferreds</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=right width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 0">
<I><font size="2">At March 31, 2012</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<B><font size="2">BCE Inc.</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%">
<font size="2">&nbsp;&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp;&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp;&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp;&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp;&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<B><font size="2">Bell</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Bell</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Aliant</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">BCE Inc.</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Debt due within one year&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">1,980</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">406</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,386</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Long-term debt&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">10,030</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,652</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">12,682</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Preferred shares&nbsp;&#150;&nbsp;BCE <SUP>(A)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">1,698</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,698</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Cash and cash equivalents&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(369</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(28</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(397</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="76%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net debt</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">13,339</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">3,030</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">16,369</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Bell&nbsp;&#150;&nbsp;Net debt and preferreds</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<B><font size="2">March 31</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">Dec. 31</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">2012</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Debt due within one year&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,980</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,724</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Long-term debt&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">10,030</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">10,070</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Preferred shares&nbsp;&#150;&nbsp;BCE <SUP>(A)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,698</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,558</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash and cash equivalents&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(369</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(140</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Net Debt</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">13,339</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">13,212</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<font size="2">Net Debt / Adjusted EBITDA <SUP>(B)</SUP>&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">2.0</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2.0</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="84%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Adjusted EBITDA <SUP>(B) </SUP>/ Net interest, excluding interest on employee benefit obligations and including 50% of preferred dividends&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">9.0</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">9.1</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="58%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Bell Media Inc.&nbsp;&#150;&nbsp;Proportionate Information</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="58%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="7%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="58%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Q1 2012</font></B><font size="2">&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Total 2011&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q4 2011&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q3 2011&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q2 2011&nbsp;</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="58%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Proportionate Net Debt</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">188</font></B><font size="2">&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%">
<font size="2">230&nbsp;</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">230&nbsp;</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">220&nbsp;</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">275&nbsp;</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="58%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Proportionate EBITDA</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">64</font></B><font size="2">&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">278&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">113&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">62&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<font size="2">103&nbsp;</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px">
<font size="2">&nbsp;</font></TD>
</tr>
<TR valign="bottom">
	<TD align=left width="58%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;&nbsp; </font></TD>
	<TD width=2% style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="7%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Cash Flow Information</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="68%" valign="top" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<B><font size="2">Q1<br>
2012</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36; change</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">% change</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Free Cash Flow (FCF)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash from operating activities, excluding acquisition costs paid&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">1,005</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">737</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">268</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">36.4</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(680</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(515</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(165</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(32.0</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Dividends paid on preferred shares&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(33</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(28</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(5</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(17.9</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">%)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Dividends/distributions paid by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">(13</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(13</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">n.m.</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Bell Aliant distributions to BCE&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">48</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">71</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(23</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(32.4</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%)&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">FCF</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">327</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">265</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">62</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">23.4</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</tr>
<tr>
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="1">&nbsp;</font></TD>
</tr>
<TR valign="bottom">
	<TD align=left width="68%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Cash Flow Information&nbsp;&#150;&nbsp;Historical Trend</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px" bgcolor="#C0C0C0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="49%" valign="top" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;
</font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Q1<br>
2012</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Total<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q4<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q3<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q2<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Free Cash Flow (FCF)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash from operating activities, excluding acquisition costs paid&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">1,005</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4,129</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">676</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,651</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,065</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">737</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(680</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2,683</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(871</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(652</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(645</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(515</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Dividends paid on preferred shares&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(33</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(118</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(31</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(31</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(28</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(28</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Dividends/distributions paid by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width="6%">
<B><font size="2">(13</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(31</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(8</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(11</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">(12</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Bell Aliant distributions to BCE&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">48</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">214</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">48</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">48</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">47</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">71</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">FCF</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">327</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,511</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(186</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,005</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">427</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">265</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</tr>
<TR valign="bottom">
	<TD align=left width="49%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table11">
	<tr>
		<td width="2%" valign="top"><font size="1">(A)</font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font size="1">Net debt includes 50% of preferred shares.</font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table12">
	<tr>
		<td width="2%" valign="top"><font size="1">(B)</font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font size="1">Adjusted EBITDA is defined as EBITDA including dividends / distributions from Bell Aliant to BCE and is based on trailling 12 months data.</font></P>


		</td>
	</tr>
</table>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
10</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>BCE Inc.<br>
Consolidated Statements of Financial Position Data</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<B><font size="2">March 31</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">December 31</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">2012</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2011</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><I><font size="2">ASSETS</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Current assets</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">130</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">130</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash equivalents&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">267</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">45</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Trade and other receivables&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">2,821</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">3,119</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Current tax receivable&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">38</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">43</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Inventory&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">361</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">427</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Prepaid expenses&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">397</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">262</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Other current assets&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">128</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">152</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total current assets</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">4,142</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">4,178</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Non-current assets</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Property, plant and equipment&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">18,897</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">18,785</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Intangible assets&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">7,983</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">8,013</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Deferred tax assets&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">314</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">329</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Investments in associates and joint ventures&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">314</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">307</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Other non-current assets&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">576</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">629</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Goodwill&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">7,185</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">7,185</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total non-current assets</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">35,269</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">35,248</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total assets</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">39,411</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">39,426</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><I><font size="2">LIABILITIES</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Current liabilities</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Trade payables and other liabilities&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">3,464</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">4,056</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Interest payable&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">154</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">134</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Dividends payable&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">432</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">415</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Current tax liabilities&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">43</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">47</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Debt due within one year&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">2,386</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,106</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total current liabilities</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">6,479</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">6,758</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Non-current liabilities</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Long-term debt&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">12,682</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">12,721</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Deferred tax liabilities&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">832</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">881</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Employee benefit obligation&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">3,180</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">2,966</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Other non-current liabilities&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">1,297</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,341</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total non-current liabilities</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">17,991</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">17,909</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total liabilities</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">24,470</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">24,667</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<B><I><font size="2">EQUITY</font></I></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Equity attributable to owners of the parent</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="8%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Preferred shares&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">3,395</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">3,115</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Common shares&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">13,540</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">13,566</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Shares subject to cancellation&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">-</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">(50</font></TD>
	<TD align=left width=2%>
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Contributed surplus&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">2,536</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp;&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">2,527</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Accumulated other comprehensive (loss) income&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">(6</font></B></TD>
	<TD align=left width=2%>
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="1%">
<font size="2">&nbsp;</font></TD>
	<TD align=right width="8%">
<font size="2">5</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Deficit&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(5,472</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD align=left width="1%">
<font size="2"><b>&nbsp;</b>&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(5,385</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total equity attributable to owners of the parent</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%">
<B><font size="2">13,993</font></B></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%">
<font size="2">13,778</font></TD>
	<TD align=left width=2%>
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Non-controlling interest</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">948</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">981</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total equity</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">14,941</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">14,759</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Total liabilities and equity</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">39,411</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">39,426</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="79%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px; margin-top: 12px">
<B><font size="2">Number of common shares outstanding</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">773.6</font></B></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="8%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">775.4</font></TD>
	<TD align=left width=2% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>


<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
11</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>BCE Inc.<br>
Consolidated Cash Flow Data</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="70%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<B><font size="2">Q1<br>
2012</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&#36; change</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net earnings&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">676</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">582</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">94</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Adjustments to reconcile net earnings to cash flows from operating activities&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Severance, acquisition and other costs&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">19</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">61</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(42</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Depreciation and amortization&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">825</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">790</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">35</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Net employee benefit plans cost&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">42</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">47</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(5</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Net interest expense&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">203</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">189</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">14</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Gains on investments&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(8</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(8</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Income taxes&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">207</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">199</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">8</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Contributions to employee pension plans&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(86</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(354</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">268</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Payments under other employee future benefit plans&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(24</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(24</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Severance and other costs paid&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(92</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(247</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">155</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(25</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(4</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(21</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Interest paid&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(180</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(167</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(13</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Income taxes paid (net of refunds)&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(104</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(8</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(96</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Operating assets and liabilities&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(255</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(330</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">75</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Cash flows from operating activities</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">1,198</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">734</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">464</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Bell Aliant dividends/distributions paid to BCE&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">48</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">71</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(23</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(817</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(634</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(183</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash dividends paid on preferred shares&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(33</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(28</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(5</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash dividends/distributions paid by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(79</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(91</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">12</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">25</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">21</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Bell Aliant Free Cash Flow&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(15</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">209</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(224</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Free Cash Flow </font> </B><font size="2"><B><SUP>(3)</SUP></B>&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">327</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">265</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">62</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Bell Aliant free cash flow, excluding dividends/distributions paid&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(33</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(280</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">247</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Business acquisitions&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(2</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(25</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(4</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(21</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Business dispositions&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">-</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Increase in investments&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(1</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Decrease in investments&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">10</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">7</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Other investing activities&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">1</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(3</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Increase in notes payable and bank advances&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">266</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">526</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(260</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Reduction in securitized trade receivables&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(10</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Issue of long-term debt&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">11</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,002</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(991</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Repayment of long-term debt&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(85</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(76</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(9</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash dividends paid on common shares&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(403</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(344</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(59</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Issue of common shares&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">18</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">49</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(31</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Repurchase of common shares&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(107</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(107</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Issue of preferred shares&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">280</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">280</font></TD>
	<TD align=left width="3%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Issue of equity securities by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">1</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">288</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(287</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Other financing activities&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(24</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(30</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">6</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(105</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,136</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(1,241</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net increase in cash and cash equivalents&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">222</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,401</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,179</font></TD>
	<TD align=left width="3%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Cash and cash equivalents at beginning of period&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">175</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">771</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(596</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Cash and cash equivalents at end of period</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">397</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,172</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(1,775</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<tr>
	<TD align=left width="70%">
&nbsp;</TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=right width=1%>
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=right width=1%>
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="3%">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Other information</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Cash flow per share <SUP>(9)</SUP>&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<B><font size="2">&#36;</font></B></TD>
	<TD align=right width="6%">
<B><font size="2">0.49</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;</font></TD>
	<TD align=right width="6%">
<font size="2">0.13</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="2">0.36</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Annualized cash flow yield <SUP>(10)</SUP>&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">5.1</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">4.3</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(0.8</font></TD>
	<TD align=left width="3%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">) pts&nbsp;</font></TD>
</tr>
<TR valign="bottom">
	<TD align=left width="70%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="2%">
<font size="1">&nbsp;</font></TD>
	<TD width="1%">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="1">&nbsp;</font></TD>
	<TD align=right width="6%">
<font size="1">&nbsp;</font></TD>
	<TD align=left width="3%">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>


<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
12</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: right;">
<B>BCE Inc.<br>
Consolidated Cash Flow Data&nbsp;&#150;&nbsp;Historical Trend</B></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="0">
<TR valign="bottom">
	<TD align=left width="41%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<I><font size="2">(&#36; millions of Canadian dollars, except where otherwise indicated) (unaudited)</font></I><font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">Q1 12</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Total<br>
2011</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q4 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q3 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q2 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">Q1 11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net earnings&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">676</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,574</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">573</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">736</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">683</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">582</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Adjustments to reconcile net earnings to cash flows from operating activities&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Severance, acquisition and other costs&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">19</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">409</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">130</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">219</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">61</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Depreciation and amortization&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">825</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3,261</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">842</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">808</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">821</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">790</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Net employee benefit plans cost&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">42</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">193</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">47</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">50</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">49</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">47</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Net interest expense&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">203</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">821</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">213</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">207</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">212</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">189</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Gains on investments&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(8</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(89</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(89</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Income taxes&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">207</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">720</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">247</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">80</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">194</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">199</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Contributions to employee pension plans&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(86</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,491</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(961</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(91</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(85</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(354</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Payments under other employee future benefit plans&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(24</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(102</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(26</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(25</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(27</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(24</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Severance and other costs paid&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(92</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(411</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(68</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(37</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(59</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(247</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(25</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(70</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(28</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(7</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(31</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(4</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Interest paid&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(180</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(795</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(234</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(178</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(216</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(167</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Income taxes paid (net of refunds)&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(104</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(130</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(73</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(24</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(25</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(8</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Operating assets and liabilities&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(255</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(21</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">307</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">267</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(265</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(330</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Cash flows from operating activities</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">1,198</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4,869</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">838</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,916</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,381</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">734</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Bell Aliant dividends/distributions paid to BCE&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">48</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">214</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">48</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">48</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">47</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">71</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(817</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(3,256</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,008</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(814</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(800</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(634</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash dividends paid on preferred shares&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(33</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(118</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(31</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(31</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(28</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(28</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash dividends/distributions paid by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(79</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(315</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(72</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(75</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(77</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(91</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">25</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">70</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">28</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">7</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">31</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Bell Aliant Free Cash Flow&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(15</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">47</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">11</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(46</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(127</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">209</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Free Cash Flow</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">327</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,511</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(186</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,005</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">427</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">265</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Bell Aliant free cash flow, excluding dividends/distributions paid&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(33</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(261</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(59</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">80</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(280</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Business acquisitions&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(2</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(680</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(680</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(25</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(70</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(28</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(7</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(31</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(4</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Business dispositions&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">-</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Increase in investments&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(1</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(12</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(6</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Decrease in investments&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">10</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">56</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">45</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Other investing activities&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">1</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">6</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">4</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Increase (decrease) in notes payable and bank advances&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">266</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">30</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">54</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">106</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(656</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">526</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">(Reduction) increase in securitized trade receivables&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(12</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(318</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">32</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(348</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Issue of long-term debt&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">11</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">2,314</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">8</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">3</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,301</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,002</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Repayment of long-term debt&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(85</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(2,350</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(342</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(193</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,739</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(76</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Cash dividends paid on common shares&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(403</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,520</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(403</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(402</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(371</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(344</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Issue of common shares&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">18</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">152</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">37</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">15</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">51</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">49</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Repurchase of common shares&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">(107</font></B></TD>
	<TD align=left width="2%">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(143</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(143</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Issue of preferred shares&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">280</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">345</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">345</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Issue of equity securities by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">1</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">403</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">115</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">-</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">288</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 24px">
<font size="2">Other financing activities&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(24</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(61</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(16</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(43</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">28</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(30</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">(105</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">)</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(2,107</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(743</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(177</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">(2,323</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,136</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Net increase (decrease) in cash and cash equivalents&nbsp;</font></TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<B><font size="2">222</font></B></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(596</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(929</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">828</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">(1,896</font></TD>
	<TD align=left width="2%">
<font size="2">)&nbsp;</font></TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%">
<font size="2">1,401</font></TD>
	<TD align=left width="2%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Cash and cash equivalents at beginning of period&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">175</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">771</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,104</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">276</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,172</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">771</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%">
<p style="text-indent: -12px; margin-left: 12px">
<B><font size="2">Cash and cash equivalents at end of period</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">397</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">175</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">175</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">1,104</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">276</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">2,172</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<tr>
	<TD align=left width="41%">
&nbsp;</TD>
	<TD align=right width=1%>
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=right width=1%>
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=right width=1%>
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=right width=1%>
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD width="1%">
&nbsp;</TD>
	<TD align=left width="6%">
&nbsp;</TD>
	<TD align=left width="2%">
&nbsp;</TD>
</tr>
<TR valign="bottom">
	<TD align=left width="41%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px; margin-bottom:0">
<B><font size="2">Other information</font></B><font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom-width: 1px">
<p style="margin-bottom: 0">
<font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px; margin-top:0">
<font size="2">Cash flow per share&nbsp;</font></TD>
	<TD align=right width=1%>
<p style="margin-top: 0">
<B><font size="2">&#36;</font></B></TD>
	<TD align=right width="6%">
<p style="margin-top: 0">
<B><font size="2">0.49</font></B></TD>
	<TD align=left width="2%">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<p style="margin-top: 0">
<font size="2">&#36;</font></TD>
	<TD align=right width="6%">
<p style="margin-top: 0">
<font size="2">2.09</font></TD>
	<TD align=left width="2%">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<p style="margin-top: 0">
<font size="2">&#36;</font></TD>
	<TD align=right width="6%">
<p style="margin-top: 0">
<font size="2">(0.23</font></TD>
	<TD align=left width="2%">
<p style="margin-top: 0">
<font size="2">) &nbsp;</font></TD>
	<TD width="1%">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<p align="right" style="margin-top: 0"><font size="2">&nbsp; $</font></TD>
	<TD align=right width="6%">
<p style="margin-top: 0">
<font size="2">1.43</font></TD>
	<TD align=left width="2%">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1%>
<p style="margin-top: 0">
<font size="2">&#36;&nbsp;</font></TD>
	<TD align=right width="6%">
<p style="margin-top: 0">
<font size="2">0.76</font></TD>
	<TD align=left width="2%">
<p style="margin-top: 0">
<font size="2">&nbsp;</font></TD>
	<TD width="1%">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%">
<p align="right" style="margin-top: 0"><font size="2">&nbsp; $</font></TD>
	<TD align=right width="6%">
<p style="margin-top: 0">
<font size="2">0.13</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<p style="margin-top: 0">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="41%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font size="2">Annualized cash flow yield&nbsp;</font></TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">5.1</font></B></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<B><font size="2">%</font></B><font size="2">&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">4.6</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">4.6</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">3.8</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width=1% style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">3.3</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD width="1%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=right width="6%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">4.3</font></TD>
	<TD align=left width="2%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">%&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>


<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
13</font></P>


<HR noshade size=1 color="#000000">





<p style="text-align: right; margin-bottom: 0">&nbsp;</p>




<P style="text-align: right;">
<B>Accompanying Notes</B></P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table15">
	<tr>
		<td width="3%" valign="top"><font size="2">(1)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">Throughout this report, BCE means BCE Inc., its subsidiaries, joint ventures and associates; Bell means our Bell Wireline, Bell Wireless and Bell Media segments on an aggregate basis; and Bell Aliant means Bell Aliant Inc. and its subsidiaries.</font></P>
		<P style="text-align: left;">
<font size="2">&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top"><font size="2">(2)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">We report our results of operations in four segments: Bell Wireline, Bell Wireless, Bell Media and Bell Aliant. Our reporting structure reflects how we manage our business and how we classify our operations for planning and measuring performance.</font></P>
<P style="text-align: left;">
<font size="2">Starting in the first quarter of 2012, we have included TV
service revenues in data revenues to align with the reporting practices of our peers. As a result, we have restated prior period results within Bell Wireline. The previously reported
Wireline segment and consolidated results did not change as a result of this restatement.</font></P>
<P style="text-align: left;">
<font size="2">In the second quarter of 2011, BCE acquired the remaining 85% of CTV Inc. (CTV) common shares that it did not already own. CTV is a media company that holds specialty television, digital media, conventional TV and radio broadcasting assets. CTV is reported as a new segment, Bell Media. As at the acquisition date, we transferred certain assets from our wireline business segment to this new segment.</font></P>
		<P style="text-align: left;">
<font size="2">&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">(3)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2"><B>Non-GAAP Financial Measures</B></font></P>
<P style="text-align: left;">
<font size="2">
<B>EBITDA</B></font></P>
<P style="text-align: left;">
<font size="2">The term EBITDA does not have any standardized meaning according to IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other companies.</font></P>
<P style="text-align: left;">
<font size="2">We define EBITDA as operating revenues less operating costs (including pension current service costs). We use EBITDA to evaluate the performance of our businesses as it reflects their ongoing profitability. We believe that certain investors and analysts use EBITDA to measure a company&#146;s ability to service debt and to meet other payment obligations or as a common measurement to value companies in the telecommunications industry. EBITDA also is one component in the determination of short-term incentive compensation for all management employees. EBITDA has no directly comparable IFRS financial measure. Alternatively, it may be reconciled to net earnings as shown in this document.</font></P>
<P style="text-align: left;">
<font size="2">
<B>Adjusted net earnings and Adjusted earnings per share (EPS)</B></font></P>
<P style="text-align: left;">
<font size="2">The terms Adjusted net earnings and Adjusted EPS do not have any standardized meaning according to IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other companies.</font></P>
<P style="text-align: left;">
<font size="2">We define Adjusted net earnings as net earnings attributable to common shareholders before severance, acquisition and other costs, and net (gains) losses on investments. We define Adjusted EPS as Adjusted net earnings per BCE common share.</font></P>
<P style="text-align: left;">
<font size="2">We use Adjusted net earnings and Adjusted EPS, among other measures, to assess the performance of our businesses without the effects of severance, acquisition and other costs, and net (gains) losses on investments, net of tax and non-controlling interest. We exclude these items because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.</font></P>
<P style="text-align: left;">
<font size="2">The most comparable IFRS financial measures are net earnings attributable to common shareholders and EPS.</font></P></td>
	</tr>
	</table>
<P style="text-align: left;">
&nbsp;</P>


<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
14</font></P>


<HR noshade size=1 color="#000000">





<p style="text-align: right; margin-bottom: 0">&nbsp;</p>





<P style="text-align: right;">
<B>Accompanying Notes</B></P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table16">
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">
<B>Free Cash Flow</B></font></P>
<P style="text-align: left;">
<font size="2">The term free cash flow does not have any standardized meaning according to IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other companies.</font></P>
<P style="text-align: left;">
<font size="2">We define free cash flow as cash flows from operating activities, excluding acquisition costs paid, and dividends/distributions received from Bell Aliant less capital expenditures, preferred share dividends, dividends/distributions paid by subsidiaries to non-controlling interest and Bell Aliant free cash flow.</font></P>
<P style="text-align: left;">
<font size="2">We consider free cash flow to be an important indicator of the financial strength and performance of our business because it shows how much cash is available to repay debt and reinvest in our company. We present free cash flow consistently from period to period, which allows us to compare our financial performance on a consistent basis.</font></P>
<P style="text-align: left;">
<font size="2">We believe that certain investors and analysts use free cash flow to value a business and its underlying assets.</font></P>
<P style="text-align: left;">
<font size="2">The most comparable IFRS financial measure is cash flows from operating activities.</font></P>
<p><font size="2">&nbsp;</font></td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">(4)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">EBITDA margin is calculated as follows:</font></P>
<P style="text-align: left;">
<font size="2"><u>EBITDA</u><br>
Operating revenues</font></P>
<p><font size="2">&nbsp;</font></td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">(5)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">Capital Intensity is calculated as follows:</font></P>
<P style="text-align: left;">
<font size="2"><u>Capital expenditures</u><br>
Operating revenues</font></P>
		<p><font size="2">&nbsp;</font></td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">(6)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">Average revenue per unit (ARPU) represents the measurement of the average revenue generated by each unit, expressed as a rate per month for the year.</font></P>
		<p><font size="2">&nbsp;</font></td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">(7)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">Churn is the rate at which existing subscribers cancel their services. Churn is calculated as the number of subscribers disconnected divided by the average subscriber base.</font></P>
		<p><font size="2">&nbsp;</font></td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">(8)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">Cost of acquisition (COA) is also referred to as subscriber acquisition costs. This measure is expressed per gross activation. It includes costs associated with acquiring a customer such as hardware subsidies, marketing and distribution costs.</font></P>
		<p><font size="2">&nbsp;</font></td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">(9)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">Cash flow per share is calculated as follows:</font></P>
<P style="text-align: left;">
<font size="2"><u>Cash flow from operating activities less capital expenditures</u><br>
Average number of common shares outstanding</font></P>
		<p><font size="2">&nbsp;</font></td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">(10)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font size="2">Annualized cash flow yield is calculated as follows:</font></P>
<P style="text-align: left;">
<font size="2"><u>Trailing 12 month free cash flow</u><br>
Number of common shares outstanding at end of period multiplied by share price at end of period</font></P></td>
	</tr>
	</table>
<p style="text-align: left">&nbsp;</p>


<P style="text-align: right;margin-bottom:0">
<font size="1">BCE Inc. Supplementary Financial Information&nbsp;&#150;&nbsp;First Quarter 2012 Page
15</font></P>


<HR noshade size=1 color="#000000">





<p style="text-align: right; margin-bottom: 0">&nbsp;</p>





</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>ceocfo_q112.htm
<DESCRIPTION>CEO/CFO CERTIFICATIONS
<TEXT>
<HTML>
<HEAD>
   <TITLE>CEO/CFO Certifications</TITLE>
   <meta equiv="Content-Type" content="text/html; charset=windows-1252">
</HEAD>

<BODY bgcolor="#ffffff">




<P style="text-align: right;">
<font face="Arial" size="2">EXHIBIT 99.3</font></P>
<P style="text-align: left;">
<img border="0" src="bce_colourlogo.jpg" width="116" height="58"></P>
<P style="text-align: center;">
<font face="Arial"><B>Form 52-109F2 &#150; Certification of Interim Filings &#150; Full Certificate</B></font></P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table1">
	<tr>
		<td width="100%" colspan="4" valign="top">
		<P style="text-align: left;">
<font face="Arial" size="2">I, George A. Cope, President and Chief Executive Officer of BCE Inc., certify the following:<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">1. <B><I>Review: </I></B>I have reviewed the interim financial report and interim MD&amp;A (together, the &#147;interim filings&#148;) of BCE Inc. (the &#147;issuer&#148;) for the interim period ended March 31, 2012.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">2. <B><I>No misrepresentations: </I></B>Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">3. <B><I>Fair presentation: </I></B>Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">4. <B><I>Responsibility: </I></B>The issuer&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&amp;P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109 <I>Certification of Disclosure in Issuers&#146; Annual and Interim Filings</I>, for the issuer.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">5. <B><I>Design: </I></B>Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#146;s other certifying officer(s) and I have, as at the end of the period covered by the interim filings<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">A.</font></td>
		<td width="94%" colspan="2" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">designed DC&amp;P, or caused it to be designed under our supervision, to provide reasonable assurance that<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">I.</font></td>
		<td width="91%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">material information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are being prepared; and<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">II.</font></td>
		<td width="91%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">B.</font></td>
		<td width="94%" valign="top" colspan="2">
<P style="text-align: left;">
<font face="Arial" size="2">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&#146;s GAAP.</font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>


<HR noshade size=1 color="#000000">





<P style="text-align: left;">
&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table2">
	<tr>
		<td width="100%" valign="top" colspan="4">
		<P style="text-align: left;">
<font face="Arial" size="2">5.1 <B><I>Control framework: </I></B>The control framework the issuer&#146;s other certifying officer(s) and I used to design the issuer&#146;s ICFR is the <I>Internal Control-Integrated Framework </I>issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" valign="top" colspan="4">
<P style="text-align: left;">
<font face="Arial" size="2">5.2 N/A<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" valign="top" colspan="4">
<P style="text-align: left;">
<font face="Arial" size="2">5.3 <B><I>Limitation on scope of design: </I></B>The issuer has disclosed in its interim MD&amp;A<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">A.</font></td>
		<td width="94%" valign="top" colspan="2">
<P style="text-align: left;">
<font face="Arial" size="2">the fact that the issuer&#146;s other certifying officer(s) and I have limited the scope of our design of DC&amp;P and ICFR to exclude controls, policies and procedures of<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">III.</font></td>
		<td width="91%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">a business that the issuer acquired not more than 365 days before the last day of the period covered by the interim filings; and<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">B.</font></td>
		<td width="94%" valign="top" colspan="2">
<P style="text-align: left;">
<font face="Arial" size="2">summary financial information about the proportionately consolidated entity, special purpose entity or business that the issuer acquired that has been proportionately consolidated or consolidated in the issuer&#146;s financial statements.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" valign="top" colspan="4">
<P style="text-align: left;">
<font face="Arial" size="2">6. <B><I>Reporting changes in ICFR: </I></B>The issuer has disclosed in its interim MD&amp;A any change in the issuer&#146;s ICFR that occurred during the period beginning on January 1, 2012 and ended on March 31, 2012 that has materially affected, or is reasonably likely to materially affect, the issuer&#146;s ICFR.</font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="2">Date: May 3, 2012</font></P>
<table border="0" width="30%" cellpadding="0" style="border-collapse: collapse" id="table3">
	<tr>
		<td width="5">&nbsp;</td>
		<td width="95%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<P style="text-align: left;">
<font face="Arial" size="2">
<I>(signed) George A. Cope</I></font></P></td>
	</tr>
	<tr>
		<td width="5">&nbsp;</td>
		<td width="95%">
<P style="text-align: left;">
<font face="Arial" size="2">George A. Cope<br>
President and Chief Executive Officer</font></P></td>
	</tr>
</table>
<p style="text-align: left">&nbsp;</p>


<HR noshade size=1 color="#000000">


<p style="text-align: left">
<img border="0" src="bce_colourlogo.jpg" width="116" height="58"></p>




<P style="text-align: center;">
<font face="Arial">
<B>Form 52-109F2 &#150; Certification of Interim Filings &#150; Full Certificate</B></font></P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table4">
	<tr>
		<td width="100%" colspan="4" valign="top">
		<P style="text-align: left;">
<font face="Arial" size="2">I, Siim A. Vanaselja, Executive Vice-President and Chief Financial Officer of BCE Inc., certify the following:<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">1. <B><I>Review: </I></B>I have reviewed the interim financial report and interim MD&amp;A (together, the &#147;interim filings&#148;) of BCE Inc. (the &#147;issuer&#148;) for the interim period ended March 31, 2012.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">2. <B><I>No misrepresentations: </I></B>Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">3. <B><I>Fair presentation: </I></B>Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">4. <B><I>Responsibility: </I></B>The issuer&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&amp;P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109 <I>Certification of Disclosure in Issuers&#146; Annual and Interim Filings</I>, for the issuer.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" colspan="4" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">5. <B><I>Design: </I></B>Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#146;s other certifying officer(s) and I have, as at the end of the period covered by the interim filings<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">A.</font></td>
		<td width="94%" colspan="2" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">designed DC&amp;P, or caused it to be designed under our supervision, to provide reasonable assurance that<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">I.</font></td>
		<td width="91%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">material information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are being prepared; and<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">II.</font></td>
		<td width="91%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">B.</font></td>
		<td width="94%" valign="top" colspan="2">
<P style="text-align: left;">
<font face="Arial" size="2">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&#146;s GAAP.</font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>


<HR noshade size=1 color="#000000">





<P style="text-align: left;">
&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table5">
	<tr>
		<td width="100%" valign="top" colspan="4">
		<P style="text-align: left;">
<font face="Arial" size="2">5.1 <B><I>Control framework: </I></B>The control framework the issuer&#146;s other certifying officer(s) and I used to design the issuer&#146;s ICFR is the <I>Internal Control-Integrated Framework </I>issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" valign="top" colspan="4">
<P style="text-align: left;">
<font face="Arial" size="2">5.2 N/A<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" valign="top" colspan="4">
<P style="text-align: left;">
<font face="Arial" size="2">5.3 <B><I>Limitation on scope of design: </I></B>The issuer has disclosed in its interim MD&amp;A<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">A.</font></td>
		<td width="94%" valign="top" colspan="2">
<P style="text-align: left;">
<font face="Arial" size="2">the fact that the issuer&#146;s other certifying officer(s) and I have limited the scope of our design of DC&amp;P and ICFR to exclude controls, policies and procedures of<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">III.</font></td>
		<td width="91%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">a business that the issuer acquired not more than 365 days before the last day of the period covered by the interim filings; and<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top"><font face="Arial" size="2">B.</font></td>
		<td width="94%" valign="top" colspan="2">
<P style="text-align: left;">
<font face="Arial" size="2">summary financial information about the proportionately consolidated entity, special purpose entity or business that the issuer acquired that has been proportionately consolidated or consolidated in the issuer&#146;s financial statements.<br>
&nbsp;</font></P></td>
	</tr>
	<tr>
		<td width="100%" valign="top" colspan="4">
<P style="text-align: left;">
<font face="Arial" size="2">6. <B><I>Reporting changes in ICFR: </I></B>The issuer has disclosed in its interim MD&amp;A any change in the issuer&#146;s ICFR that occurred during the period beginning on January 1, 2012 and ended on March 31, 2012 that has materially affected, or is reasonably likely to materially affect, the issuer&#146;s ICFR.</font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
<font face="Arial" size="2">Date: May 3, 2012</font></P>
<table border="0" width="30%" cellpadding="0" style="border-collapse: collapse" id="table6">
	<tr>
		<td width="5">&nbsp;</td>
		<td width="95%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
		<font face="Arial" size="2">
<I>(signed) Siim A. Vanaselja</I></font></td>
	</tr>
	<tr>
		<td width="5">&nbsp;</td>
		<td width="95%">
<P style="text-align: left;">
<font face="Arial" size="2">Siim A. Vanaselja<br>
Executive Vice-President and Chief Financial Officer</font></P></td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>


<HR noshade size=1 color="#000000">


</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>news_q112.htm
<DESCRIPTION>NEWS RELEASE
<TEXT>

<HTML>
<HEAD>
   <TITLE>News Release</TITLE>
   <meta equiv="Content-Type" content="text/html; charset=windows-1252">
</HEAD>

<BODY bgcolor="#ffffff">




<P style="text-align: right;">
<font face="Arial" size="2">EXHIBIT 99.4</font></P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table9">
	<tr>
		<td width="50%">
		<img border="0" src="press_1.jpg" width="163" height="92"></td>
		<td width="50%">
		<p align="right">
		<img border="0" src="press_2.jpg" width="293" height="92"></td>
	</tr>
</table>
<P style="text-align: left;">
<font face="Arial">For Immediate Release</font></P>
<P style="text-align: left;">
<font face="Arial" size="1">
<I>This news release contains forward-looking statements. For a description of the related risk factors and assumptions please see the section entitled &#147;Caution Concerning Forward-Looking Statements&#148; later in this release.</I></font></P>
<P style="text-align: left;">
<font face="Arial">
<B>BCE reports 14.1% increase in net earnings to &#36;574 million and 23.4% growth in free cash flow in the first quarter of 2012</B></font></P>
<UL>
<LI>
<font face="Arial" size="2">
<B>BCE Q1 net earnings attributable to common shareholders of &#36;574 million, up 14.1%;</B> <B>Adjusted net earnings<SUP>(1) </SUP>attributable to common shareholders of &#36;580 million, up 6.8%</B></font></LI>
<LI>
<font face="Arial" size="2">
<B>Cash flows from operating activities up 63.2%, while free cash flow<SUP>(3) </SUP>increases 23.4%</B></font></LI>
<LI>
<font face="Arial" size="2">
<B>Bell revenue growth of 11.6% and EBITDA<SUP>(2) </SUP>growth of 6.6% reflect strong</B> <B>contributions from Bell Wireless and Bell Media</B></font></LI>
<LI>
<font face="Arial" size="2">
<B>Best Q1 Wireless EBITDA growth in five years at 13.0%; wireless service margin</B> <B>expands to 42.9% on 6% increase in service revenue; Postpaid net activations of</B> <B>62,576 reflect continued strong smartphone adoption with smartphone users now</B> <B>representing 52% of postpaid subscriber base</B></font></LI>
<LI>
<font face="Arial" size="2">
<B>Bell Fibe TV net activations of 33,443 bring total Fibe TV subscriber base to 120,000;</B> <B>Bell TV now serves more than 2.1 million customers across Canada</B></font></LI>
<LI>
<font face="Arial" size="2">
<B>Bell Wireline maintains relatively stable margin of 38.9% in a declining voice revenue</B> <B>environment on reduction in operating costs</B></font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial" size="2">MONTR&Eacute;AL, May 3, 2012 &#150; BCE Inc. (TSX, NYSE: BCE), Canada&#146;s largest communications company, today reported BCE and Bell results for the first quarter (Q1) of 2012.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">BCE reported Q1 net earnings attributable to common shareholders of &#36;574 million, up 14.1% from &#36;503 million last year, and adjusted net earnings attributable to common shareholders of &#36;580 million, an increase of 6.8% compared to &#36;543 million in Q1 2011. Earnings per share (EPS) of &#36;0.74 per share and Adjusted EPS<B><SUP>(1) </SUP></B>of &#36;0.75 per share were up 10.4% and 4.2%, respectively, compared to &#36;0.67 and &#36;0.72 per share in Q1 2011.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Bell delivered revenue growth of 11.6%, reflecting significant contributions from Bell Media &#150;formed in April 2011 after Bell acquired CTV &#150; and Bell Wireless, which reported higher service revenues driven by a growing postpaid subscriber base and higher average revenue per user (ARPU). These growth services offset lower wireline revenue, reflecting continued decline in local and long-distance voice services that was nevertheless improved in Q1 over the previous quarter due to improved residential local access line retention and Fibe TV pull-through. Bell EBITDA increased 6.6% in the quarter on the strength of wireless EBITDA growth (up 13%), the positive impact of the CTV acquisition and improved wireline operating costs.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">&#147;The Bell team&#146;s successful execution of our Strategic Imperatives resulted in solid Q1 financial performance, with significant growth in Bell revenue and EBITDA reflecting especially strong contributions by Bell Wireless and Bell Media,&#148; said George Cope, President and CEO of Bell Canada and BCE. &#147;We look forward to welcoming Montreal-based Astral Media to the Bell team later this year as Bell works to expand our media leadership, delivering the best content across the best networks to any broadband screens our customers choose.&#148;</font></P>
<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">1/16</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: left;">
<font face="Arial" size="2">&#147;Bell&#146;s strategic investments in world-leading network technology and Canada&#146;s best content continue to drive steady growth in our Fibe TV and broadband mobile services. In Q1, we increased our smartphone customers and mobile data revenue significantly as we continued to roll out our new 4G LTE mobile network and enhance our industry-leading Bell Mobile TV service. And with next-generation Fibe TV coverage expanded to 2.2 million homes across Qu&#233;bec City, Montr&#233;al and Toronto, Fibe TV customer additions more than tripled over last year. The popularity of Fibe TV is improving performance in our other residential services too, as almost 9 out of 10 new Fibe TV customers also chose both Bell Internet and Bell Home Phone,&#148; said Mr. Cope.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Bell is committed to achieving a clear goal &#150; to be recognized by customers as Canada&#146;s leading communications company &#150; through the execution of 6 Strategic Imperatives: Invest in Broadband Networks and Services, Accelerate Wireless, Leverage Wireline Momentum, Expand Media Leadership, Improve Customer Service, and Achieve a Competitive Cost Structure.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">&#147;Our execution in the first quarter demonstrated a solid start to the year, highlighted by strong wireless performance, stabilizing Business Markets performance, continued competitive price discounting in residential wireline, and Media results that delivered a strong contribution to earnings and cash flow. With healthy year-over-year growth in EBITDA, Adjusted EPS and Free Cash Flow in Q1, our 2012 financial plan is on track as we reconfirm today all our Bell and BCE guidance targets for the year,&#148; said Siim Vanaselja, Chief Financial Officer for Bell and BCE. &#147;Our continued strong earnings and Free Cash Flow generation provides solid support for BCE&#146;s 2012 increased dividend, all underpinned by a sound balance sheet and credit metrics. Additionally, our pending acquisition of Astral, expected to close in the second half of the year, will be EPS and cash flow accretive in 2013 &#150; positioning us well to continue executing on our dividend growth objective going forward.&#148;</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Bell Fibe growth in Qu&#233;bec City</B></font><font face="Arial" size="2"><br>
Qu&#233;bec City &#150; the site of Bell&#146;s Annual General Shareholder Meeting being held today &#150; is the focus of a &#36;240 million investment in fibre-to-the-home technology that is bringing the fastest Internet speeds and the best TV service available to residents of Qu&#233;bec&#146;s capital. Bell announced yesterday that it will hire an additional 300 new Bell team members in Qu&#233;bec City in the remainder of 2012 to support its ongoing Fibe buildout in the region.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>BCE first in Canada to achieve significant Internet milestone of 3 million customers</B></font><font face="Arial" size="2"><br>
Building on its position as Canada&#146;s largest Internet Service Provider, BCE announced today that Bell and Bell Aliant now serve more than 3 million residential and business Internet customers as of Q1 2012. With more than &#36;3 billion in annual capital investment, Bell companies are bringing the latest-generation fibre optic technology and the fastest Internet speeds to customers in centres across eastern Canada.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Competition Bureau completes review of Bell&#146;s acquisition of ownership position in MLSE, confirms it has no plans to challenge</B></font><font face="Arial" size="2"><br>
Yesterday, the Competition Bureau confirmed that it has no plans to challenge Bell&#146;s acquisition of an ownership position in Maple Leaf Sports and Entertainment (MLSE), while noting that the Competition Act provides a one-year period following completion of such transactions during which it can bring the matter before the Tribunal. MLSE is Canada&#146;s largest sports and entertainment company and owner of the premier professional sports teams in Canada&#146;s largest marketplace: The Toronto Maple Leafs, Toronto Raptors, Toronto Marlies and Toronto FC.
On December 9, 2011, Bell announced it had, in a joint ownership arrangement with Rogers Communications Inc. (Rogers), agreed to purchase a net 75% ownership position in MLSE from</font></P>
<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">2/16</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: left;">
<font face="Arial" size="2">Ontario Teachers&#146; Pension Plan Board. The acquisition secures on a long-term basis access to TV, mobile, digital online and radio broadcast rights for both Bell and Rogers to MLSE&#146;s sports teams. This investment in MLSE accelerates Bell&#146;s strategy to deliver Canada&#146;s best content across world-leading broadband networks to any screen customers may choose. The transaction is expected to close in mid-2012 following Canadian Radio-television and Telecommunications Commission (CRTC) and sports league approvals.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Acquisition of Astral Media</B></font><font face="Arial" size="2"><br>
In March, BCE announced the acquisition of Montr&#233;al-based Astral Media Inc. and its leading specialty and pay television channels, radio stations, digital media properties, and national out-of-home advertising platforms. Expected to close in the second half of 2012, the acquisition will greatly enhance Bell&#146;s competitive position in the French-language media market, improve control of content costs, and present new opportunities for cross-platform media and advertising innovation at Bell Media.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>NCIB program</B></font><font face="Arial" size="2"><br>
On March 12, 2012, BCE completed its Normal Course Issuer Bid (NCIB) program, having repurchased and canceled 6,104,905 common shares, at an average price of &#36;40.95 per share, for a total cost of &#36;250 million. Since December 2008, BCE has repurchased more than 62 million shares at an average price of &#36;27.85 per share for a total cost of &#36;1.7 billion.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Bell operational performance</B></font><font face="Arial" size="2"><br>
Bell&#146;s operating revenues increased 11.6% to &#36;4,333 million in Q1 2012. This was the result of increased revenues from Bell Media, Bell Wireless and Wireline data, which offset declines in local and access, long distance as well as in equipment and other revenues. Bell&#146;s EBITDA grew 6.6% this quarter to &#36;1,605 million on strong performance by Bell Wireless and the addition of Bell Media&#146;s EBITDA.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Bell Wireless EBITDA in Q1 2012 grew 13.0% to &#36;521 million and its service margin expanded to 42.9% from 40.3% last year, reflecting solid wireless revenue growth of 5.5% to &#36;1,320 million and disciplined control over postpaid subscriber acquisition and customer retention spending. Postpaid net activations totaled 62,576 as smartphone adoption continued to accelerate. Smartphone users represented 52% of total postpaid subscribers at the end of Q1, up from 34% a year earlier. This drove significantly higher wireless data usage year over year with services like Bell Mobile TV, which contributed to strong mobile data revenue growth of 31% and blended ARPU growth of 4.2%. Blended ARPU was &#36;53.84 per month in Q1 2012, up from &#36;51.68 per month in Q1 2011.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Bell Wireline revenue totaled &#36;2,579 million in the quarter, down 3.5% from Q1 2011, while EBITDA decreased 3.9% to &#36;1,003 million, as competitive and wireless substitution pressures continued to affect legacy voice and data services. This was moderated by the solid growth in residential Internet revenue, higher IP broadband connectivity revenues and increased data sales to our business customers. Bell maintained relatively steady wireline margins year over year as a result of our continued focus on managing wireline costs, which improved 3.2%, or &#36;52 million, in the quarter. Bell Fibe TV added 33,443 net new subscribers in Q1 2012, driving a 119% increase in total TV net activations year over year. The activation of new Fibe customers also led to stronger Internet acquisition with 12,393 new Internet customers in the quarter.</font></P>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">3/16</font></P>


<HR noshade size=1 color="#000000">





<P style="text-align: left;">
<font face="Arial" size="2">Bell Media revenue was &#36;512 million in Q1 2012, driven by advertising sales across its television, radio and digital media properties, as well as subscriber fees paid by broadcast distributors for carrying Bell Media&#146;s TV services. Subscriber revenues this quarter reflected higher rates charged to broadcast distributors for carrying leading Bell Media specialty channels, such as TSN and RDS. Bell Media EBITDA in Q1 2012 was &#36;81 million, which included a &#36;23 million non-cash charge to amortize the fair value increment of programming rights recognized on the acquisition of CTV.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Bell invested &#36;680 million in new capital this quarter to support its rapid broadband network infrastructure development, a &#36;165 million increase from Q1 2011. Our investments support the deployment of broadband fibre to residential homes, neighbourhoods and businesses in Qu&#233;bec and Ontario and enhancements to Bell&#146;s core wireline broadband network to support the commercial roll-out of Fibe TV and Fibe Internet. Capital investments also increased speed and capacity in our IP backbone network infrastructure, enhanced wireless capacity and enabled the rapid rollout of Bell&#146;s 4G LTE mobile network which is now available in 16 urban centres across Canada with deployment to more centres planned for this year.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>BCE results</B></font><font face="Arial" size="2"><br>
BCE&#146;s operating revenue grew 9.9% in Q1 2012, while EBITDA increased 5.1%, mainly as a result of higher revenue at Bell, driven by the acquisition of CTV and improved year-over-year performance at Bell Wireless.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">BCE&#146;s cash flows from operating activities were &#36;1,198 million in Q1 2012, compared to &#36;734 million in the same period last year due to lower pension contributions at Bell Aliant. Free cash flow available to BCE&#146;s common shareholders increased 23.4% to &#36;327 million in Q1 2012. The year-over-year improvement is attributable primarily to higher EBITDA and positive changes in working capital due, in part, to customer rebates paid from Bell&#146;s deferral account balance obligation in Q1 2011 that did not occur this year.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">BCE&#146;s net earnings attributable to common shareholders increased 14.1% in Q1 2012 to &#36;574 million, or &#36;0.74 per share, compared to &#36;503 million, or &#36;0.67 per share, in the same quarter last year. The year-over-year increase in earnings is due primarily to higher EBITDA and lower severance, acquisition and other costs.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">BCE&#146;s Adjusted EPS was &#36;0.75 per common share in the quarter, compared to &#36;0.72 per common share in the previous year. The 4.2% increase reflects higher EBITDA and a lower statutory tax rate year over year, offset partly by higher depreciation expense, increased interest expense attributable to long-term debt related to the CTV acquisition, and the dilutive impact of BCE common shares issued in relation to the CTV acquisition.</font></P>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">4/16</font></P>


<HR noshade size=1 color="#000000">





&nbsp;<p style="margin-bottom: 0"><font face="Arial">
<B>Financial Highlights</B>&nbsp;</font></p>






<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="2">
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">(&#36; millions except per share amounts) (unaudited)&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">
<B>Q1 2012</B>&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">
<B>Q1 2011</B>&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">
<B>% change</B>&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Bell </B>(i)&nbsp;</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating Revenues&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4,333&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">3,882&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">11.6%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">EBITDA&nbsp;</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">1,605&nbsp;</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">1,505&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 3px double #000000">
<font face="Arial" size="2">6.6%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>BCE</B>&nbsp;</font></TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Operating Revenues&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4,909&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">4,466&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">9.9%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">EBITDA&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,927&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,833&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">5.1%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net Earnings Attributable to Common&nbsp;Shareholders&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">574&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">503&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">14.1%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">EPS&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.74&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.67&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">10.4%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Adjusted EPS&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.75&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.72&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">4.2%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash flows from operating activities&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,198&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">734&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">63.2%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="70%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000; ">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Free Cash Flow&nbsp;</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">327&nbsp;</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">265&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 3px double #000000">
<font face="Arial" size="2">23.4%&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px"><font size="1">&nbsp;</font></P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table1">
	<tr>
		<td width="3%" valign="top">
<font face="Arial" size="2">(i)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">Bell includes the Bell Wireless, Bell Wireline and Bell Media segments.</font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
<font face="Arial">
<B>Bell Wireless</B></font><font face="Arial" size="2"><br>
Bell Wireless&#146; operating performance in Q1 2012 was highlighted by profitable postpaid subscriber growth, as evidenced by higher blended ARPU and disciplined spending on postpaid subscriber acquisition and customer retention, which helped drive double-digit wireless EBITDA growth and a higher margin year over year.</font></P>
<UL>
<LI>
<font face="Arial" size="2">Bell Wireless operating revenues increased 5.5% in the first quarter of 2012 to &#36;1,320 million. Service revenue was up 6.0% to &#36;1,214 million as a result of a larger postpaid subscriber base and growth in wireless data usage. Product revenue decreased 5.1% in the quarter to &#36;94 million mainly as a result of lower volumes.</font></LI>
<LI>
<font face="Arial" size="2">Blended ARPU was &#36;53.84 per month in Q1 2012, up 4.2% compared to &#36;51.68 per month in Q1 2011. Growth in blended ARPU was primarily the result of increasing data usage which reflects a greater percentage of higher-value postpaid customers using smartphones in our subscriber base. That was partly offset by declining voice ARPU.</font></LI>
<LI>
<font face="Arial" size="2">Smartphone users represented 52% of total postpaid subscribers at the end of Q1 2012, compared to 34% one year earlier.</font></LI>
<LI>
<font face="Arial" size="2">Bell Wireless EBITDA reached &#36;521 million in the first quarter, up 13.0%. The increase is mainly attributable to higher wireless operating revenues and cost management as wireless operating costs increased marginally year over year.</font></LI>
<LI>
<font face="Arial" size="2">EBITDA margin as a percentage of wireless service revenue increased to 42.9% in Q1 2012, from 40.3% in Q1 2011, on solid service revenue growth.</font></LI>
<LI>
<font face="Arial" size="2">Postpaid gross activations totaled 293,572 this quarter compared to 299,657 in the first quarter of 2011, consistent with our focus on profitable postpaid subscriber growth and increasing our mix of higher-value customers.</font></LI>
<LI>
<font face="Arial" size="2">Prepaid gross activations decreased 23.8% in Q1 2012 to 94,574, due primarily to our emphasis on postpaid acquisitions as well as competitive acquisition offers from the newer wireless entrants for lower-ARPU subscribers.</font></LI>
</UL>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">5/16</font></P>


<HR noshade size=1 color="#000000">





&nbsp;<UL>
<LI>
<font face="Arial" size="2">Blended churn rate decreased to 1.8% in the quarter compared to 1.9% in Q1 2011 due to a greater percentage of postpaid subscribers in our customer base, year over year, as postpaid service typically has lower churn than prepaid service. Postpaid churn this quarter was stable at 1.4%. Prepaid churn increased to 3.9% from 3.7%, due to a high level of competitive intensity particularly at the low end of the consumer market.</font></LI>
<LI>
<font face="Arial" size="2">Postpaid net activations totaled 62,576 this quarter, down from 80,648 in Q1 2011, as a result of fewer gross activations.</font></LI>
<LI>
<font face="Arial" size="2">Prepaid net customer losses increased to 83,903 in Q1 2012, from 75,356 in Q1 2011, as a result of fewer gross activations and higher churn.</font></LI>
<LI>
<font face="Arial" size="2">The Bell Wireless client base reached 7,406,155 wireless subscribers at the end of Q1 2012, a 2.2% increase over last year.</font></LI>
<LI>
<font face="Arial" size="2">Bell continued to enhance its 4G HSPA+ network, which now serves more than 97% of the Canadian population, while continuing to roll out its next-generation 4G LTE network, which now serves 16 urban centres in 7 provinces and territories: Whitehorse, Yellowknife, Vancouver, Calgary, Edmonton, the Great Toronto Area (GTA), Ottawa, Hamilton, London, Kitchener-Waterloo, Guelph, Belleville, Peterborough, Montr&#233;al, Qu&#233;bec City and Halifax.</font></LI>
<LI>
<font face="Arial" size="2">Bell&#146;s leadership in 4G mobile devices continues with the announcement of several new smartphones in Q1, including the new Galaxy S II HD LTE, superphone available exclusively from Bell starting today.</font></LI>
<LI>
<font face="Arial" size="2">Bell Mobility also announced the introduction of Bell PTT, a next-generation push-to-talk service for business customers that takes full advantage of the broader coverage and faster data speeds of Bell&#146;s 4G networks.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial">
<B>Bell Wireline</B></font><font face="Arial" size="2"><br>
Bell Residential Services experienced growing market traction for Fibe TV in Toronto, Montr&#233;al and Qu&#233;bec City, an improving Internet net activations trajectory, and fewer retail residential network access service (NAS) line losses. Richer upfront promotional discounts and retention credits to customers, as well as ongoing legacy voice erosion and re-pricing pressures in our business and wholesale markets contributed to lower overall wireline revenues this quarter. Bell wireline margins remained relatively steady as a result of our continued focus on wireline cost reductions and stabilizing operating performance in our Business Markets unit.</font></P>
<UL>
<LI>
<font face="Arial" size="2">Bell Wireline revenues totaled &#36;2,579 million in this quarter, down 3.5% from Q1 2011.<BR>
The decline reflects a decrease in local and access, long distance, and equipment and other revenues, partly offset by slightly higher year-over-year data revenues.</font></LI>
<LI>
<font face="Arial" size="2">Data revenues in Q1 2012 increased 0.2% to &#36;1,418 million, reflecting an improving revenue trend compared to previous quarters in 2011. Beginning in Q1 2012, we began including revenue generated from Bell&#146;s TV services in wireline data revenues to align our reporting with that of our Canadian and U.S. industry peers. Prior periods have been restated to make year-over-year comparisons consistent.</font></LI>
<LI>
<font face="Arial" size="2">Local and access revenues declined 7.0% in Q1 2012 to &#36;678 million. Total NAS at the end of Q1 was 6,005,126, representing a 6.4% decline year over year. This is attributable to competition and a reduction in access lines and digital circuits, as customers continue to adopt wireless and IP-based technologies.</font></LI>
<LI>
<font face="Arial" size="2">Long distance revenues declined 9.4% to &#36;212 million this quarter.</font></LI>
<LI>
<font face="Arial" size="2">Equipment and other revenue decreased 12.3% this quarter to &#36;192 million.</font></LI>
<LI>
<font face="Arial" size="2">Bell Wireline EBITDA was &#36;1,003 million, down 3.9% from the first quarter of 2011 due to lower operating revenues, partly offset by lower operating costs which improved 3.2% in Q1 2012. EBITDA margin was 38.9% this quarter, compared to 39.1% in Q1 2011.</font></LI>
</UL>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">6/16</font></P>


<HR noshade size=1 color="#000000">





&nbsp;<UL>
<LI>
<font face="Arial" size="2">Total TV net activations totaled 17,623 in Q1 2012, up from 8,058 in Q1 2011. TV subscriber acquisition was fueled by increased sales of Fibe TV, which added 33,443 net new customers this quarter, reflecting increasing customer demand as we further expanded our Fibe TV footprint and enhanced our service bundle offers in many urban markets to include Fibe TV and Fibe Internet services. This was moderated by lower satellite TV net activations this quarter, due to roll-outs of IPTV service by other competing service providers, aggressive customer conversion offers from cable competitors, and Bell customer migrations to Fibe TV.</font></LI>
<LI>
<font face="Arial" size="2">The Bell TV subscriber base totaled 2,111,675 at the end of Q1 2012, representing a 3.3% increase since the end of the first quarter of 2011.</font></LI>
<LI>
<font face="Arial" size="2">Bell added 12,393 new net high-speed Internet customers in the first quarter of 2012, compared to additions of 13,161 in Q1 2011. The result this quarter represents an improvement over the previous few quarters, reflecting the pull-through effect of Fibe TV customer activations, continued broadband fibre service expansion, as well as fewer business and wholesale customer deactivations.</font></LI>
<LI>
<font face="Arial" size="2">Residential net losses in the quarter were 71,119, compared to net losses of 64,287 in Q1 2011. Business NAS losses totaled 25,411 in Q1 2012, compared to a net gain of 5,044 in Q1 2011. The results for Q1 2011 reflected the favourable impact of wholesale customer migrations from a competitor via a third-party reseller, which began in Q4 2010 and were completed substantially in Q2 2011. Excluding the impact of this third-party reseller, residential NAS net losses improved 3.4%, year over year, to 66,999 this quarter compared to 69,391 last year, while business NAS losses were 22,700 compared to a loss of 18,303 in Q1 2011.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial">
<B>Bell Media</B></font><font face="Arial" size="2"><br>
On April 1, 2011, Bell completed its acquisition of CTV and launched the new Bell Media segment encompassing all CTV and other Bell content assets, including the Sympatico.ca portal.</font></P>
<UL>
<LI>
<font face="Arial" size="2">Bell Media&#146;s operating revenue was &#36;512 million this quarter, as advertising revenues were supported by the maintenance of strong audience levels in conventional and specialty TV channels, strong subscriber revenue growth due to higher rates for broadcast distributors carrying leading Bell Media specialty channels such as TSN and RDS, and increasing usage of online video and mobile TV services.</font></LI>
<LI>
<font face="Arial" size="2">Subscriber revenues in Q1 2012 reflect the implementation of higher rates charged to broadcast distributors for Bell Media specialty sports and non-sports services, as well as continued solid specialty channel and digital results.</font></LI>
<LI>
<font face="Arial" size="2">Bell Media&#146;s EBITDA was &#36;81 million in Q1 2012. A &#36;23 million non-cash charge was recognized in the quarter for the amortization of the fair value increment of certain programming rights acquired as part of the CTV acquisition.</font></LI>
<LI>
<font face="Arial" size="2">CTV completed the winter ratings season with 13 of the 20 top programs among all viewers, with <I>Big Bang Theory </I>continuing to be the number one performer in Canada. For the spring season to date, CTV held 12 of the 20 top programs among all viewers.</font></LI>
<LI>
<font face="Arial" size="2">Bell Media specialty channels also continued to ongoing high viewership levels, led by TSN which remains the #1 specialty channel in all key demographics.</font></LI>
<LI>
<font face="Arial" size="2">CTV&#146;s non-sports specialty services maintained strong audience growth, led by double-digit increases for The Comedy Network, Bravo! and CP24.</font></LI>
<LI>
<font face="Arial" size="2">For the first time in CTV history, a highly-anticipated new series &#150; <I>SMASH </I>&#150; previewed online on CTV.ca and the CTV iPad App prior to the conventional television premiere.
Similarly, CTV.ca exclusively presented the first-ever backstage camera at the <I>JUNO</I> <I>Awards</I>.</font></LI>
</UL>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">7/16</font></P>


<HR noshade size=1 color="#000000">





&nbsp;<UL>
<LI>
<font face="Arial" size="2">BNN Mobile Portal, the first of many mobile-optimized sites to be launched throughout Bell Media properties, went live during the quarter.</font></LI>
<LI>
<font face="Arial" size="2">Bell Media websites streamed more than 186 million video views in the quarter and welcomed 14.7 million unique visitors on average each month, serving up 30&nbsp;million hours of video and a total of 1.9 billion page views. Page views on CTV.ca grew 6%, with major gains in properties such as TSN.ca and TheComedyNetwork.ca.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial">
<B>Bell Aliant Regional Communications</B></font><font face="Arial" size="2"><br>
Bell Aliant&#146;s revenues in the first quarter of 2012 remained unchanged at &#36;682 million year over year. Bell Aliant&#146;s EBITDA decreased 1.8% to &#36;322 million due mainly to slightly higher operating costs in Q1 2012 compared to the same period last year.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Common Share Dividend</B></font><font face="Arial" size="2"><br>
BCE&#146;s Board of Directors has declared a quarterly dividend of &#36;0.5425 per common share, payable on July 15, 2012 to shareholders of record at the close of business on June 15, 2012.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Outlook</B></font><font face="Arial" size="2"><br>
BCE confirmed its financial guidance targets for 2012, as provided on February 9, 2012, as follows:</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="2">
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=center width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">
<B>2012 Guidance</B>&nbsp;<B><br>
Issued February 9, 2012</B>&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>Bell </B>(i)&nbsp;</font></TD>
	<TD align=left width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Revenue Growth&nbsp;</font></TD>
	<TD align=center width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">3% - 5%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">EBITDA Growth&nbsp;</font></TD>
	<TD align=center width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">2% - 4%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Capital Intensity&nbsp;</font></TD>
	<TD align=center width="50%" style="border-right: 1px solid #000000; border-bottom: 3px double #000000">
<font face="Arial" size="2">&#8804;16%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">
<B>BCE</B>&nbsp;</font><font size="2">&nbsp; </font></TD>
	<TD align=left width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Adjusted EPS (ii)&nbsp;</font></TD>
	<TD align=center width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">&#36;3.13 - &#36;3.18&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Free Cash Flow&nbsp;</font></TD>
	<TD align=center width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">&#36;2,350 M - &#36;2,500 M&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Common dividend per share&nbsp;</font></TD>
	<TD align=center width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">&#36;2.17&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividend payout ratio (iii)&nbsp;</font></TD>
	<TD align=left width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">-&nbsp;Adjusted EPS&nbsp;</font></TD>
	<TD align=center width="50%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">approx. 69%&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD width="50%" style="border-left: 1px solid #000000; border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">-&nbsp;Free Cash Flow&nbsp;</font></TD>
	<TD align=center width="50%" style="border-right: 1px solid #000000; border-bottom: 3px double #000000">
<font face="Arial" size="2">approx. 69%&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px"><font size="1">&nbsp;</font></P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table2">
	<tr>
		<td width="3%" valign="top">
<font face="Arial" size="2">(i)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">Bell&#146;s 2012 financial guidance for revenue, EBITDA and capital intensity is exclusive of Bell Aliant.</font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table3">
	<tr>
		<td width="3%" valign="top">
<font face="Arial" size="2">(ii)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">EPS before severance, acquisition and other costs and net gains/losses on investments.</font></P>
		</td>
	</tr>
</table>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table4">
	<tr>
		<td width="3%" valign="top">
<font face="Arial" size="2">(iii)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">Calculated using the mid-point of BCE&#146;s 2012 Adjusted EPS and free cash flow guidance ranges.</font></P>


		</td>
	</tr>
</table>
<P style="MARGIN:0px">&nbsp;</P>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">8/16</font></P>


<HR noshade size=1 color="#000000">





&nbsp;<P style="text-align: left;">
<font face="Arial">
<B>Call with Financial Analysts</B></font><font face="Arial" size="2"><br>
BCE will hold a conference call for financial analysts to discuss first quarter results on Thursday, May 3 at 8:00 a.m. (Eastern). Media are welcome to participate on a listen-only basis. To participate, please dial 416-695-7848 or toll-free 1-800-952-6845 shortly before the start of the call. A replay will be available for one week by dialing 905-694-9451 or 1-800-408-3053 and entering pass code 4187858#.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">There will also be a live audio webcast of the call available on BCE&#146;s website at: <U>http://bce.ca/investors/investorevents/all/show/bce-q1-2012-results-conference-call</U>. The mp3 file will be available for download on this page later in the day.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Notes</B></font><font face="Arial" size="2"><br>
The information contained in this news release is unaudited.</font></P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table5">
	<tr>
		<td width="3%" valign="top">
<font face="Arial" size="2">(1)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">The terms Adjusted net earnings and Adjusted EPS do not have any standardized meaning according to IFRS. They are therefore unlikely to be comparable to similar measures presented by other companies.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We define Adjusted net earnings as net earnings attributable to common shareholders before severance, acquisition and other costs, and net (gains) losses on investments. We define Adjusted EPS as Adjusted net earnings per BCE common share.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We use Adjusted net earnings and Adjusted EPS, among other measures, to assess the performance of our businesses without the effects of severance, acquisition and other costs, and net (gains) losses on investments, net of tax and non-controlling interest. We exclude these items because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The most comparable IFRS financial measures are net earnings attributable to common shareholders and EPS. The following table is a reconciliation of net earnings attributable to common shareholders and EPS to Adjusted net earnings on a consolidated basis and per BCE common share (Adjusted EPS), respectively.</font></P>
		</td>
	</tr>
</table>
<P style="text-align: left; margin-top:0; margin-bottom:0">
&nbsp;</P>

<div align="right">

<TABLE border=0 style="width:97%; border-collapse:collapse" cellpadding="2">
<TR valign="bottom">
	<TD align=left width="60%" colspan=5>
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">(&#36; millions except per share amounts)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="60%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=center width="10%" colspan=2 style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">Q1 2012&nbsp;</font></TD>
	<TD align=center width="10%" colspan=2 style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">Q1 2011&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="60%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">TOTAL</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">PER SHARE</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">TOTAL</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">PER SHARE</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="60%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings attributable to&nbsp;common
shareholders&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">574</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.74</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">503</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">0.67</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="60%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other&nbsp;costs&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">14</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">0.02</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">40</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">0.05</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="60%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net gains on investments&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(8)</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(0.01)</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">-</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">-</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="60%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000; ">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Adjusted net earnings&nbsp;</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">580</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">0.75</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">543</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 3px double #000000">
<font face="Arial" size="2">0.72</font></TD>
</TR>
</TABLE>

</div>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table6">
	<tr>
		<td width="3%" valign="top">
<font face="Arial" size="2">(2)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">The term EBITDA does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other companies. We define EBITDA as operating revenues less operating costs, as shown in BCE&#146;s consolidated income statements </font></P>
		<P style="text-align: left;">
<font face="Arial" size="2">EBITDA for BCE&#146;s segments is the same as segment profit as reported in Note 3 to BCE&#146;s Q1 2012 consolidated financial statements.</font></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
&nbsp;</P>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">9/16</font></P>


<HR noshade size=1 color="#000000">





<p>&nbsp;</p>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table7">
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="97%" valign="top">





<P style="text-align: left;">
<font face="Arial" size="2">We use EBITDA to evaluate the performance of our businesses as it reflects their ongoing profitability. We believe that certain investors and analysts use EBITDA to measure a company&#146;s ability to service debt and to meet other payment obligations or as a common measurement to value companies in the telecommunications industry. EBITDA also is one component in the determination of short-term incentive compensation for all management employees. EBITDA has no directly comparable IFRS financial measure. Alternatively, the following table provides a reconciliation of net earnings to EBITDA.</font></P>
		</td>
	</tr>
</table>
<P style="text-align: left; margin-top:0; margin-bottom:0">
&nbsp;</P>

<div align="right">

<TABLE border=0 style="width:97%; border-collapse:collapse" cellpadding="2">
<TR valign="bottom">
	<TD align=center width="80%">
<p style="text-indent: -12px; margin-left: 12px" align="left">
<font face="Arial" size="2">(&#36; millions)&nbsp;</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">Q1 2012&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">Q1 2011&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Net earnings&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">676&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">582&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Severance, acquisition and other costs&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">19&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">61&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Depreciation&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">644&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">611&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Amortization&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">181&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">179&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Finance costs&nbsp;</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest expense&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">204&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">191&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 24px">
<font face="Arial" size="2">Interest on employee benefits obligations&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">243&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">242&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Expected return on pension plan assets&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(267)&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">(254)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Other expense&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">20&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">22&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Income taxes&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">207&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">199&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">EBITDA&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000">
<font face="Arial" size="2">1,927&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 3px double #000000">
<font face="Arial" size="2">1,833&nbsp;</font></TD>
</TR>
</TABLE>

</div>

<P style="MARGIN:0px">&nbsp;</P>
<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table8">
	<tr>
		<td width="3%" valign="top">
<font face="Arial" size="2">(3)</font></td>
		<td width="97%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">The term free cash flow does not have any standardized meaning according to IFRS. It is therefore unlikely to be comparable to similar measures presented by other companies.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We define free cash flow as cash flows from operating activities, excluding acquisition costs paid, and dividends/distributions received from Bell Aliant less capital expenditures, preferred share dividends, dividends/distributions paid by subsidiaries to non-controlling interest and Bell Aliant free cash flow.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We consider free cash flow to be an important indicator of the financial strength and performance of our business because it shows how much cash is available to repay debt and reinvest in our company. We present free cash flow consistently from period to period, which allows us to compare our financial performance on a consistent basis.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We believe that certain investors and analysts use free cash flow to value a business and its underlying assets.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The most comparable IFRS financial measure is cash flows from operating activities. The following table is a reconciliation of cash flows from operating activities to free cash flow on a consolidated basis.</font></P>
		</td>
	</tr>
</table>
<P style="MARGIN:0px">&nbsp;</P>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">10/16</font></P>


<HR noshade size=1 color="#000000">





<p>&nbsp;</p>
<div align="right">






<TABLE border=0 style="width:97%; border-collapse:collapse" cellpadding="2">
<TR valign="bottom">
	<TD align=left width="80%">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">(&#36; millions)&nbsp;</font></TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
	<TD align=left width="10%">
<font size="2">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="2">&nbsp; </font> </TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">Q1 2012&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="2">Q1 2011&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Cash flows from operating activities&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">1,198&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">734&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell Aliant dividends/distributions to BCE&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">48&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">71&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Capital expenditures&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(817)&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">(634)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends paid on preferred shares&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(33)&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">(28)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Dividends paid by subsidiaries to non-controlling interest&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">(79)&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">(91)&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom-width: 1px">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Acquisition costs paid&nbsp;</font></TD>
	<TD align=right width="10%">
<font face="Arial" size="2">25&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom-width: 1px">
<font face="Arial" size="2">4&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Bell Aliant free cash flow&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">(15)&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="2">209&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width="80%" style="border-left: 1px solid #000000; border-right-width: 1px; border-top-width: 1px; border-bottom: 3px double #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="2">Free cash flow&nbsp;</font></TD>
	<TD align=right width="10%" style="border-bottom: 3px double #000000">
<font face="Arial" size="2">327&nbsp;</font></TD>
	<TD align=right width="10%" style="border-left-width: 1px; border-right: 1px solid #000000; border-top-width: 1px; border-bottom: 3px double #000000">
<font face="Arial" size="2">265&nbsp;</font></TD>
</TR>
</TABLE>

</div>

<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;">
<font face="Arial">
<B>Caution Concerning Forward-Looking Statements</B></font><font face="Arial" size="2"><br>
Certain statements made in this news release, including, but not limited to, statements relating to our 2012 financial guidance (including revenues, EBITDA, capital intensity, Adjusted EPS, and free cash flow), our business outlook, objectives, plans and strategic priorities, BCE&#146;s 2012 annualized common share dividend, targeted dividend payout ratios, the expected timing and completion of, and the benefits expected to result from, BCE Inc.&#146;s (BCE) proposed acquisition of Astral Media Inc. (Astral), the expected contribution of Astral to BCE&#146;s earnings and free cash flow, our 4G LTE wireless network deployment plans, and other statements that are not historical facts, are forward-looking. Forward-looking statements may include words such as <I>aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target </I>and <I>will</I>. All such forward-looking statements are made pursuant to the &#147;safe harbour&#148; provisions of applicable Canadian securities laws and of the United States <I>Private Securities Litigation Reform Act of 1995</I>.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, 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 May 3, 2012 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 nonrecurring 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 May 3, 2012. The financial impact of these transactions and nonrecurring 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 presented for the purpose of providing information about management&#146;s current expectations and plans relating, in particular, to 2012, and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.</font></P>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">11/16</font></P>


<HR noshade size=1 color="#000000">





<p>&nbsp;</p>





<P style="text-align: left;">
<font face="Arial" size="4">
<B>Material Assumptions</B></font><font face="Arial" size="2"><br>
A number of economic, market, operational and financial assumptions were made by BCE in preparing its forward-looking statements for 2012 contained in this news release, including, but not limited to:</font></P>
<P style="text-align: left; margin-bottom:-18px">
<font face="Arial">
<B><I>Economic and Market Assumptions</I></B></font></P>
<UL>
<LI>
<p>
<font face="Arial" size="2">growth in the Canadian economy of approximately 2.4% in 2012 based on the Bank of Canada&#146;s most recent estimate, a 40 basis point increase compared with an earlier estimate of 2.0%;</font></LI>
<LI>
<font face="Arial" size="2">continued weak product sales, reflecting deferred business customer spending given the slow pace of economic growth;</font></LI>
<LI>
<font face="Arial" size="2">a softer advertising market expected for Bell Media;</font></LI>
<LI>
<font face="Arial" size="2">an ongoing intense level of wireline competition in both consumer and business markets;</font></LI>
<LI>
<font face="Arial" size="2">higher wireline replacement, due primarily to increasing wireless and Internet-based technological substitution; and</font></LI>
<LI>
<font face="Arial" size="2">wireless industry penetration gain of 4 to 5 basis points in 2012 driven, in particular, by increased competition, the accelerating adoption of smartphones, tablets and data applications, as well as by the introduction of more LTE devices.</font></LI>
</UL>
<P style="text-align: left; margin-bottom:-18px">
<font face="Arial">
<B><I>Operational Assumptions Concerning Bell Wireline (excluding Bell Aliant)</I></B></font></P>
<UL>
<LI>
<font face="Arial" size="2">stabilizing residential NAS line erosion rate as we leverage our broadband investment in IPTV to drive three-product household penetration, increase our MDU market share, and generate higher pull-through attach rates for our residential Internet and home phone services;</font></LI>
<LI>
<font face="Arial" size="2">in particular, targeted retention and service bundle offers, customer win backs and better service execution to contribute to the improvement in residential NAS line losses year over year, subject to the risk of more aggressive service bundle offers from our cable TV competitors and marketing actions from the newer wireless entrants which could lead to higher residential NAS line losses;</font></LI>
<LI>
<font face="Arial" size="2">increased subscriber acquisition at Bell TV to be driven by increased customer adoption of Fibe TV, and our ability to seek greater penetration within the MDU market, capitalize on our extensive retail distribution network, which includes The Source, and leverage our market leadership position in high definition programming;</font></LI>
<LI>
<font face="Arial" size="2">improved subscriber acquisition at Bell Internet to be driven by pull-through from Fibe TV and increased adoption of Fibe Internet packages as we leverage our expanding broadband fibre network to offer higher-speed service to customers in more areas;</font></LI>
<LI>
<font face="Arial" size="2">increased business customer spending, new business formation and higher demand for connectivity and ICT services, as the economy strengthens and employment rates improve, to result in a gradual improvement in the performance of our Business Markets unit, subject to the risk of business customers adopting more conservative strategies which could result in lower capital spending requirements, deferral of ICT projects and increased NAS erosion;</font></LI>
<LI>
<font face="Arial" size="2">cost savings and labour efficiency gains to be achieved from a reduced management workforce, lower corporate support group costs, renegotiated contracts with our vendors and outsource suppliers, client care and field service productivity improvements, managing content costs and reducing traffic that is not on our own network;</font></LI>
<LI>
<font face="Arial" size="2">continued customer migration to IP-based systems and competitive re-price pressures in our business and wholesale markets;</font></LI>
<LI>
<font face="Arial" size="2">increasing EBITDA contribution from growth services;</font></LI>
<LI>
<font face="Arial" size="2">approximately 3.3 million Bell Fibe TV-ready households by the end of 2012.</font></LI>
</UL>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">12/16</font></P>


<HR noshade size=1 color="#000000">





<p>&nbsp;</p>





<P style="text-align: left; margin-bottom:-18px">
<font face="Arial">
<B><I>Operational Assumptions Concerning Bell Wireless (excluding Bell Aliant)</I></B></font></P>
<UL>
<LI>
<font face="Arial" size="2">Bell Wireless to benefit from the flow-through of significant investments made in 2011 in customer acquisition and retention, along with continued acceleration in smartphone activations and data usage;</font></LI>
<LI>
<font face="Arial" size="2">incumbents and newer wireless entrants to continue aggressive competition in 2012 and newer wireless entrants to continue enhancing the breadth and reach of their networks, improving their distribution reach and expanding their device portfolios;</font></LI>
<LI>
<font face="Arial" size="2">wireless revenue growth to be underpinned by ARPU driven by a higher mix of smartphone and higher-value postpaid customers, increased distribution in western Canada, new services, and continued disciplined price management;</font></LI>
<LI>
<font face="Arial" size="2">Bell Wireless to benefit from ongoing technological improvements by manufacturers in our handset and device lineup and from faster data speeds that are allowing our clients to optimize the use of our services;</font></LI>
<LI>
<font face="Arial" size="2">Bell Wireless to maintain a reasonable market share of the incumbent wireless postpaid market;</font></LI>
<LI>
<font face="Arial" size="2">higher subscriber acquisition and customer retention costs, as well as the continued deployment of our wireless LTE network in urban markets while continuing to leverage our wireless HSPA+ network.</font></LI>
</UL>
<P style="text-align: left; margin-bottom:-18px">
<font face="Arial">
<B><I>Operational Assumptions Concerning Bell Media</I></B></font></P>
<UL>
<LI>
<font face="Arial" size="2">building and maintaining strategic supply arrangements for content on four screens, successfully acquiring high-rated programming and differentiated content to execute on Bell&#146;s multi-screen content strategy, producing and commissioning high-quality Canadian content, and producing market-leading news;</font></LI>
<LI>
<font face="Arial" size="2">revenue growth in our sports broadcast operations to be generated primarily by increased subscription revenue;</font></LI>
<LI>
<font face="Arial" size="2">increased costs to secure content in our sports broadcast operations as we face greater competition from both new and established entrants, and as market rates for specialty content generally increase;</font></LI>
<LI>
<font face="Arial" size="2">investment in programming and marketing and launch of new services in both English and French for our non-sports specialty services, in combination with ongoing investment in high definition services;</font></LI>
<LI>
<font face="Arial" size="2">maintaining our strong market position in our radio operations by leveraging strategic investments made in 2011; and</font></LI>
<LI>
<font face="Arial" size="2">the achievement of productivity gains and other operating efficiencies related to Bell Media integration synergies.</font></LI>
</UL>
<P style="text-align: left; margin-bottom:-18px">
<B><I><font face="Arial">Financial Assumptions Concerning Bell (excluding Bell
Aliant) and BCE</font></I></B></P>
<UL>
<LI>
<font face="Arial" size="2">Bell&#146;s total pension expense to be approximately &#36;90 million, based on an estimated accounting discount rate of 5.1% and an expected return on plan assets of 6.75%, comprised of an estimated above EBITDA current service pension cost of approximately &#36;190 million and an estimated below EBITDA net pension finance return of approximately &#36;100 million;</font></LI>
<LI>
<font face="Arial" size="2">Bell&#146;s total pension plan cash funding to be approximately &#36;375 million;</font></LI>
<LI>
<font face="Arial" size="2">Bell&#146;s cash taxes to be approximately &#36;300 million;</font></LI>
<LI>
<font face="Arial" size="2">net interest paid to be approximately &#36;675 million;</font></LI>
<LI>
<font face="Arial" size="2">BCE&#146;s total pension expense to be approximately &#36;150 million, including approximately &#36;60 million for Bell Aliant, comprised of an estimated above EBITDA current service pension cost of approximately &#36;250 million and an estimated below EBITDA net pension finance return of approximately &#36;100 million;</font></LI>
</UL>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">13/16</font></P>


<HR noshade size=1 color="#000000">





<p>&nbsp;</p>





<UL>
<LI>
<font face="Arial" size="2">depreciation and amortization expense approximately &#36;125 million higher compared to 2011;</font></LI>
<LI>
<font face="Arial" size="2">severance, acquisition costs and other of approximately &#36;100 million;</font></LI>
<LI>
<font face="Arial" size="2">an effective tax rate of approximately 23%;</font></LI>
<LI>
<font face="Arial" size="2">tax adjustments (per share) of approximately &#36;0.10 to &#36;0.15;</font></LI>
<LI>
<font face="Arial" size="2">the repayment of &#36;500 million of 2012 long-term debt maturities; and</font></LI>
<LI>
<font face="Arial" size="2">an annual common share dividend of &#36;2.17 per share.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial" size="2">The foregoing assumptions, although considered reasonable by BCE on May 3, 2012, may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations as set forth in this news release.</font></P>
<P style="text-align: left;">
<font face="Arial">
<B>Material Risks</B></font><font face="Arial" size="2"><br>
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 our forward looking statements, including our 2012 financial guidance, are listed below. The realization of our forward-looking statements, including our ability to meet our 2012 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:</font></P>
<UL>
<LI>
<font face="Arial" size="2">the intensity of competitive activity, including the increase in wireless competitive activity resulting from Industry Canada&#146;s licensing of advanced wireless services (AWS) spectrum to new wireless entrants and their ability to launch or expand services, and the resulting impact on our ability to retain existing customers and attract new ones, as well as on our pricing strategies, average revenue per unit and financial results;</font></LI>
<LI>
<font face="Arial" size="2">the level of technological substitution contributing to reduced utilization of traditional wireline voice services and the increasing number of households that use only wireless telephone services;</font></LI>
<LI>
<font face="Arial" size="2">the increased adoption by customers of alternative TV services;</font></LI>
<LI>
<font face="Arial" size="2">variability in subscriber acquisition and retention costs based on subscriber acquisitions, retention volumes, smartphone sales and subsidy levels;</font></LI>
<LI>
<font face="Arial" size="2">regulatory initiatives or proceedings<B>, </B>litigation, changes in laws or regulations and tax matters;</font></LI>
<LI>
<font face="Arial" size="2">general economic and financial market conditions, the level of consumer confidence and spending, and the demand for, and prices of, our products and services;</font></LI>
<LI>
<font face="Arial" size="2">our ability to implement our strategies and plans in order to produce the expected benefits, including our ability to continue to implement our cost reduction initiatives and contain capital intensity while seeking to improve customer service;</font></LI>
<LI>
<font face="Arial" size="2">our ability to anticipate and respond to technological change, upgrade our networks and rapidly offer new products and services;</font></LI>
<LI>
<font face="Arial" size="2">our failure to maintain network operating performance including as a result of the significant increase in broadband demand and in the volume of wireless data driven traffic;</font></LI>
<LI>
<font face="Arial" size="2">events affecting the functionality of, and our ability to protect, maintain and replace, our networks, equipment, facilities, information technology (IT) systems, software and other assets;</font></LI>
<LI>
<font face="Arial" size="2">our failure to implement, on a timely basis, or maintain effective IT systems and the complexity and costs of our IT environment;</font></LI>
<LI>
<font face="Arial" size="2">the complexity of our product offerings and pricing plans;</font></LI>
<LI>
<font face="Arial" size="2">events affecting the ability of third-party suppliers to provide to us, and our ability to purchase, essential products and services;</font></LI>
</UL>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">14/16</font></P>


<HR noshade size=1 color="#000000">





<p>&nbsp;</p>





<UL>
<LI>
<font face="Arial" size="2">the quality of our network and customer equipment and the extent to which they may be subject to manufacturing defects;</font></LI>
<LI>
<font face="Arial" size="2">ineffective management of changes resulting from restructurings and other corporate initiatives and from the integration of business units and business acquisitions;</font></LI>
<LI>
<font face="Arial" size="2">increased contributions to employee benefit plans;</font></LI>
<LI>
<font face="Arial" size="2">labour disruptions;</font></LI>
<LI>
<font face="Arial" size="2">capital and other expenditure levels, financing and debt requirements and our ability to raise the capital we need to implement our business plan, including for BCE&#146;s dividend payments and to fund capital and other expenditures and generally meet our financial obligations;</font></LI>
<LI>
<font face="Arial" size="2">our ability to discontinue certain traditional services as necessary to improve capital and operating efficiencies;</font></LI>
<LI>
<font face="Arial" size="2">launch and in-orbit risks of satellites used by Bell ExpressVu Limited Partnership;</font></LI>
<LI>
<font face="Arial" size="2">the theft of our satellite television services;</font></LI>
<LI>
<font face="Arial" size="2">Bell Media&#146;s significant dependence on continued demand for advertising, and the potential adverse effect thereon from challenging economic conditions, cyclical and seasonal variations and competitive pressures, and on securing commercially favourable distribution arrangements with broadcasting distribution undertakings;</font></LI>
<LI>
<font face="Arial" size="2">the adverse effect of new technology and increasing fragmentation in Bell Media&#146;s television and radio markets;</font></LI>
<LI>
<font face="Arial" size="2">royalties payable by Bell Media under licences pursuant to the Copyright Act may increase;</font></LI>
<LI>
<font face="Arial" size="2">health concerns about radio frequency emissions from wireless devices;</font></LI>
<LI>
<font face="Arial" size="2">our ability to maintain customer service and our networks operational in the event of the occurrence of environmental disasters or epidemics, pandemics and other health risks;</font></LI>
<LI>
<font face="Arial" size="2">employee retention and performance;</font></LI>
<LI>
<font face="Arial" size="2">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;</font></LI>
<LI>
<font face="Arial" size="2">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;</font></LI>
<LI>
<font face="Arial" size="2">stock market volatility;</font></LI>
<LI>
<font face="Arial" size="2">the expected timing and completion of the proposed acquisition of Astral and of an interest in MLSE are subject to closing conditions, termination rights and other risks and uncertainties including, without limitation, in the case of Astral, court, shareholder and regulatory approvals and, in the case of MLSE, regulatory and sports league approvals;</font></LI>
<LI>
<font face="Arial" size="2">the benefits expected to result from the proposed acquisition of Astral are subject to the successful and timely integration and consolidation of Astral&#146;s operations, procedures and personnel; and</font></LI>
<LI>
<font face="Arial" size="2">the expectation that Astral&#146;s acquisition will be accretive to BCE&#146;s earnings and free cash flow is subject to the risks faced by Astral&#146;s business, certain of which are described in Astral&#146;s MD&amp;A for the year ended August 31, 2011, as updated in Astral&#146;s subsequent quarterly MD&amp;As.</font></LI>
</UL>
<P style="text-align: left;">
<font face="Arial" size="2">We caution that the foregoing list of risk factors is not exhaustive and other factors could also adversely affect our results.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">We encourage investors to also read BCE&#146;s 2011 Annual MD&amp;A dated March 8, 2012 (included in the BCE 2011 Annual Report) and BCE&#146;s 2012 First Quarter MD&amp;A dated May 3, 2012, for additional information with respect to certain of these and other assumptions and risks, filed by BCE with the Canadian securities commissions (available at www.sedar.com) and with the U.S. Securities and Exchange Commission (available at www.sec.gov). These documents are also available on BCE&#146;s website at <U>www.bce.ca</U>.</font></P>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">15/16</font></P>


<HR noshade size=1 color="#000000">





<p>&nbsp;</p>





<P style="text-align: left;">
<font face="Arial">
<B>About BCE</B></font><font face="Arial" size="2"><br>
BCE is Canada&#146;s largest communications company, providing a comprehensive and innovative suite of broadband communication services to residential and business customers under the Bell and Bell Aliant brands. Bell Media is Canada&#146;s premier multimedia company with leading assets in television, radio and digital media, including CTV, Canada&#146;s leading television network, and the country&#146;s most-watched specialty channels.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">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>Bell.ca/LetsTalk</U>.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">For BCE corporate information, please visit <U>BCE.ca</U>. For Bell product and service information, please visit <U>Bell.ca</U>. For Bell Media, please visit <U>BellMedia.ca</U>.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">
<B>Media inquiries:</B><BR>
Jean Charles Robillard<BR>
Bell Communications<BR>
(514) 870-4739<BR>
<U>jean_charles.robillard@bell.ca</U><BR>
<BR>
<B>Investor inquiries:</B><BR>
Thane Fotopoulos<BR>
BCE Investor Relations<BR>
(514) 870-4619<BR>
<U>thane.fotopoulos@bell.ca</U></font></P>


<P style="text-align: center;margin-bottom:0">
<font face="Arial" size="2">16/16</font></P>


<HR noshade size=1 color="#000000">





</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>selected_q112.htm
<DESCRIPTION>BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION
<TEXT>
<HTML>
<HEAD>
   <TITLE>Bell Canada Unaudited Selected Summary Financial Information</TITLE>
   <meta equiv="Content-Type" content="text/html; charset=windows-1252">
</HEAD>

<BODY bgcolor="#ffffff">




<P style="text-align: right;">
<font face="Arial" size="2">EXHIBIT 99.5</font></P>
<P style="text-align: center;">
<font face="Arial">NOTICE OF RELIANCE<br>
SECTION 13.4 OF NATIONAL INSTRUMENT 51-102 <br>
CONTINUOUS DISCLOSURE OBLIGATIONS</font></P>
<div align="left">
	<table border="0" width="50%" cellpadding="0" style="border-collapse: collapse" id="table1">
		<tr>
			<td width="7%" valign="top"><font face="Arial" size="2">To: </font>
			</td>
			<td width="93%" valign="top">
			<P style="text-align: left;">
<font face="Arial" size="2">Alberta Securities Commission <br>
British Columbia Securities Commission <br>
Manitoba Securities Commission <br>
Securities Commission, New Brunswick<br>
Securities Commission of Newfoundland and Labrador <br>
Nova Scotia Securities Commission <br>
Ontario Securities Commission <br>
Registrar of Securities, Prince Edward Island <br>
Autorit&#233; des march&#233;s financiers<br>
Saskatchewan Financial Services Commission &#150; Securities Division <br>
Toronto Stock Exchange</font></P></td>
		</tr>
	</table>
</div>
<P style="text-align: left;">
<font face="Arial" size="2">Notice is hereby given that Bell Canada relies on the continuous disclosure documents filed by BCE Inc. pursuant to the exemption from the requirements of National Instrument 51-102 &#150; Continuous Disclosure Obligations (&#147;NI 51-102&#148;) provided in Section 13.4 of NI 51-102.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">The continuous disclosure documents of BCE Inc. can be found for viewing in electronic format at www.sedar.com.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Attached to this notice and forming part thereof is the consolidating summary financial information for BCE Inc. as required by Section 13.4 of NI 51-102.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">Dated: May 3, 2012</font></P>
<div align="right">
	<table border="0" width="50%" cellpadding="0" style="border-collapse: collapse" id="table2">
		<tr>
			<td width="100%" colspan="2" valign="top">
<P style="text-align: left;">
<font face="Arial" size="2">BELL CANADA</font></P>
			<p>&nbsp; </TD>
		</tr>
		<tr>
			<td width="10%" valign="top">
<font face="Arial" size="2">By:</font></td>
			<td width="90%" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000" valign="top">
<font face="Arial" size="2">
<I>(signed) Karyn A. Brooks</I>&nbsp;</font></td>
		</tr>
		<tr>
			<td width="10%" valign="top">
<font face="Arial" size="2">Name:</font></td>
			<td width="90%" valign="top"><font face="Arial" size="2">Karyn A.
			Brooks</font></td>
		</tr>
		<tr>
			<td width="10%" valign="top">
<font face="Arial" size="2">Title:</font></td>
			<td width="90%" valign="top">
<font face="Arial" size="2">Senior Vice-President and Controller</font></td>
		</tr>
	</table>
</div>
<P style="text-align: left;">
<img border="0" src="bell_logo.jpg" width="101" height="60"></P>

<P style="MARGIN:0px">&nbsp;</P>


<HR noshade size=1 color="#000000">





<p style="margin-left: 0px; margin-right: 0px">&nbsp;</p>
<table border="0" width="100%" cellpadding="10" style="border-collapse: collapse" id="table3">
	<tr>
		<td bgcolor="#C0C0C0">
		<P style="text-align: left;">
<font face="Arial" size="5">Bell Canada</font></P></td>
	</tr>
</table>
<P style="text-align: left;">
<font face="Arial">UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION<sup><font size="2">(1)</font></sup></font><font face="Arial" size="2"><B><br>
For the periods ended March 31, 2012 and 2011<br>
</B>(in millions of Canadian dollars)</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">BCE&nbsp;Inc. fully and unconditionally guarantees the payment obligations of its 100% owned subsidiary Bell&nbsp;Canada under the public debt issued by Bell&nbsp;Canada. Accordingly, the following summary financial information is provided by Bell&nbsp;Canada in compliance with the requirements of section 13.4 of National Instrument 51-102 (Continuous Disclosure Obligations) providing for an exemption for certain credit support issuers. The tables below contain selected summary financial information for (i) BCE Inc. (as credit supporter), (ii) Bell&nbsp;Canada (as credit support issuer) on a consolidated basis, (iii) BCE Inc.&#146;s subsidiaries, other than Bell Canada, on a combined basis, (iv) consolidating adjustments, and (v) BCE Inc. and all of its subsidiaries on a consolidated basis, in each case for the periods indicated. Such summary financial information for BCE Inc. and Bell Canada and all other subsidiaries is intended to provide investors with meaningful and comparable financial information about BCE Inc. and its subsidiaries. This summary financial information should be read in conjunction with BCE Inc.&#146;s audited consolidated financial statements for the year ended December 31, 2011 and the unaudited consolidated interim financial report for the three months ended March 31, 2012.</font></P>
<P style="text-align: left;">
<font face="Arial" size="2">For the periods ended March 31:</font></P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="2">
<TR valign="bottom">
	<TD align=left width=10%>
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=center width="10%" colspan=3 rowspan="2">
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="1">BCE INC.</font></p>
<p style="margin-top: -4px; margin-bottom: 0"><font face="Arial" size="1">(&#147;CREDIT SUPPORTER&#148;)<SUP>(2)</SUP></font></TD>
	<TD align=center width="10%" colspan=3 rowspan="2">
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="1">BELL CANADA CONSOLIDATED</font></p>
<p style="margin-top: 0; margin-bottom: 0"><font face="Arial" size="1">(&#147;CREDIT SUPPORT ISSUER&#148;)</font><font size="1"> </font> </TD>
	<TD align=center width="10%" colspan=3 rowspan="2">
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="1">SUBSIDIARIES OF BCE INC.</font></p>
<p style="margin-top: -4px; margin-bottom: 0"><font face="Arial" size="1">OTHER THAN BELL CANADA<SUP>(3)</SUP></font></TD>
	<TD align=center width="10%" colspan=3 rowspan="2">
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="1">CONSOLIDATING</font></p>
<p style="margin-top: -4px; margin-bottom: 0"><font face="Arial" size="1">ADJUSTMENTS<SUP>(4)</SUP></font></TD>
	<TD align=center width="18%" colspan="3" rowspan="2">
<p style="margin-top: 0; margin-bottom: 0"><font face="Arial" size="1">BCE</font></p>
<p style="margin-top: 0; margin-bottom: 0"><font face="Arial" size="1">CONSOLIDATED</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10%>
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=8% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>2012</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font face="Arial" size="1">2011&nbsp;</font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">Operating Revenues&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>&#150;</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">&#150;&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=8% bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>4,909</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">4,466&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>&#150;</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0">
<font face="Arial" size="1">&#150;&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>&#150;</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">&#150;&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>4,909</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">4,466&nbsp;</font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">Net earnings from continuing operations attributable to owners&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>609</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">532&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=8% bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>586</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">515&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>&#150;</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0">
<font face="Arial" size="1">&#150;&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>(586)</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">(515)&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>609</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">532&nbsp;</font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">Net earnings attributable to owners&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>609</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">532&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width=8% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>586</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">515&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>&#150;</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">&#150;&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>(586)</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">(515)&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>609</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">532&nbsp;</font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>

<TABLE border=0 style="width:100%; border-collapse:collapse" cellpadding="2">
<TR valign="bottom">
	<TD align=left width=10%>
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=center width="10%" colspan=3 rowspan="2">
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="1">BCE INC.</font></p>
<p style="margin-top: -4px; margin-bottom: 0"><font face="Arial" size="1">(&#147;CREDIT SUPPORTER&#148;)<SUP>(2)</SUP></font></TD>
	<TD align=center width="10%" colspan=3 rowspan="2">
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="1">BELL CANADA CONSOLIDATED</font></p>
<p style="margin-top: 0; margin-bottom: 0"><font face="Arial" size="1">(&#147;CREDIT SUPPORT ISSUER&#148;)</font></TD>
	<TD align=center width="10%" colspan=3 rowspan="2">
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="1">SUBSIDIARIES OF BCE INC.</font></p>
<p style="margin-top: -4px; margin-bottom: 0"><font face="Arial" size="1">OTHER THAN BELL CANADA<SUP>(3)</SUP></font></TD>
	<TD align=center width="10%" colspan=3 rowspan="2">
<p style="margin-top: 0; margin-bottom: 0">
<font face="Arial" size="1">CONSOLIDATING</font></p>
<p style="margin-top: -4px; margin-bottom: 0"><font face="Arial" size="1">ADJUSTMENTS<SUP>(4)</SUP></font></TD>
	<TD align=center width="18%" colspan="3" rowspan="2">
<p style="margin-top: 0; margin-bottom: 0"><font face="Arial" size="1">BCE</font></p>
<p style="margin-top: 0; margin-bottom: 0"><font face="Arial" size="1">CONSOLIDATED</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10%>
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<p style="text-indent: -12px; margin-left: 12px"><font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font face="Arial" size="1">
<B>Mar. 31,<br>
2012</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font face="Arial" size="1">Dec. 31,<br>
2011&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font face="Arial" size="1">
<B>Mar. 31,<br>
2012</B>&nbsp;</font></TD>
	<TD align=center width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<p align="right">
<font face="Arial" size="1">Dec. 31,<br>
2011&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font size="1">&nbsp;&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font face="Arial" size="1">
<B>Mar. 31,<br>
2012</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font face="Arial" size="1">Dec. 31,<br>
2011&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font size="1">&nbsp;&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font face="Arial" size="1">
<B>Mar. 31,<br>
2012</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font face="Arial" size="1">Dec. 31,<br>
2011&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font size="1">&nbsp;&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font face="Arial" size="1">
<B>Mar. 31,<br>
2012</B>&nbsp;</font></TD>
	<TD align=center width="8%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<p align="right">
<font face="Arial" size="1">Dec. 31,<br>
2011&nbsp;</font></TD>
	<TD align=center width="2%" bgcolor="#C0C0C0" style="border-bottom:1px solid #000000; border-left-width: 1px; border-right-width: 1px; border-top: 1px solid #000000; ">
<font size="1">&nbsp;&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">Total Current Assets&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>1,831</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">1,696&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>4,148</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">4,183&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>53</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0">
<font face="Arial" size="1">53&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>(1,890)</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">(1,754)&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>4,142</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">4,178&nbsp;</font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">Total Non-current Assets&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>12,791</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">12,792&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>29,468</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">29,448&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>21</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0">
<font face="Arial" size="1">21&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>(7,011)</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">(7,013)&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>35,269</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">35,248&nbsp;</font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">Total Current Liabilities&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>555</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">644&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>7,811</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">7,866&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>&#150;</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0">
<font face="Arial" size="1">&#150;&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>(1,887)</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">(1,752)&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">
<B>6,479</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0">
<font face="Arial" size="1">6,758&nbsp;</font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0">
<font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=10% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<p style="text-indent: -12px; margin-left: 12px">
<font face="Arial" size="1">Total Non-current Liabilities&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>74</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">67&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>17,272</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">17,194&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>&#150;</B>&nbsp;</font></TD>
	<TD align=right width=8% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">&#150;&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>645</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">648&nbsp;</font></TD>
	<TD width=2% bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp; </font> </TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">
<B>17,991</B>&nbsp;</font></TD>
	<TD align=right width="8%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font face="Arial" size="1">17,909&nbsp;</font></TD>
	<TD align=right width="2%" bgcolor="#C0C0C0" style="border-left-width: 1px; border-right-width: 1px; border-top-width: 1px; border-bottom: 1px solid #000000">
<font size="1">&nbsp;</font></TD>
</TR>
</TABLE>

<P style="MARGIN:0px">&nbsp;</P>
<table border="0" width="100%" cellpadding="0" style="border-collapse: collapse" id="table4">
	<tr>
		<td width="2%" valign="top"><font face="Arial" size="1">
		(1)</font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font face="Arial" size="1">
The summary financial information is prepared in accordance with International financial reporting standards and is in accordance with generally accepted accounting principles issued by the Canadian Accounting Standards Board for publicly-accountable enterprises.</font></P>
		</td>
	</tr>
	<tr>
		<td width="2%" valign="top"><font face="Arial" size="1">
		(2)</font></td>
		<td width="98%" valign="top">
		<P style="text-align: left;">
<font face="Arial" size="1">
This column accounts for investments in all subsidiaries of BCE Inc. under the equity method.</font></P>
		</td>
	</tr>
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
		(3)</font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
This column accounts for investments in all subsidiaries of BCE Inc. (other than Bell Canada) on a consolidated basis.</font></P>
		</td>
	</tr>
	<tr>
		<td width="2%" valign="top">
<font face="Arial" size="1">
		(4)</font></td>
		<td width="98%" valign="top">
<P style="text-align: left;">
<font face="Arial" size="1">
This column includes the necessary amounts to eliminate the intercompany balances between BCE Inc., Bell Canada and other subsidiaries and other adjustments to arrive at the information for BCE Inc. on a consolidated basis.</font></P>
		</td>
	</tr>
</table>


</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>bce_colourlogo.jpg
<TEXT>
begin 644 bce_colourlogo.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`.@!T`P$1``(1`0,1`?_$`,D```$$`P$``P``````
M``````H`!PD+`0((!`,%!@$``@(#`0$!````````````!P@`!0$&"0($`Q``
M``8!`@,$`P@1!`,!`````0(#!`4&!P`($1(),1,4"B%!%2)"%A=WEU@Y46&!
MD;'!,B,DM-76MQAX&1KPH=>8@L4W*!$``@$"!`,#!0H,!`4%`0```0(#$00`
M$@4&(3$'01,(47$B%%5A@=*3LY05=387L=$R0E*2<]-T%C<8H6*B(_`S0U34
MD>'Q@K(U_]H`#`,!``(1`Q$`/P">GJG=::_=//<97<'5G!=0R5'S>)*WDI2?
MG;A,P+Q!U.VF[UU2+391\0^0.W;IU,BI5!.!C&6,`AP*'$^=+^C5EU!V[)K=
MS?2VTB7;PY%C5P0J1OFJ6'$]Y2E.S`1ZD=8)-@Z]%HJV`NA):)-G,QCIF>5,
MM.[>M.[K6HYTIPXQK_Y2F7_HDXW^<JS_`+N:(_\`;#I?M:X^)3X>-`_N7E]C
MK\Y/[C'[NH>:;D"KD3ONS5FJV,8@*/:AFE9NNB3C[LQ(R:QNZ3<&`O847:0"
M/:.OAO/"^,E=/U@Y_));\#[ZR\/U3CZ[/Q+6K2TU#29$A\L<X=OU6C0']88F
MNV,=7W:+OL>HTZESTKCC+YTE%"8ER<2,A[%-%;HF6=+TR28R#^#N"*"29SF1
M;+%D2(IF54:)IE$^@QO?I-NS8RF[OHUN-)K_`,^&K(M>0D!`:,GEZ0RD\`Q.
M#%L[J7M;>P[K3)6CU$"I@E`26@KQ4`LKCA4E&:@(S`5Q*=H8X(&/,]>-(YFZ
MD'[ENR8L6ZSMZ\=K)MVK1HV3,LX<N7"QB(H-T$2"<YSF`I2@(B(`&LJK.P1`
M6=B``!4DG@``.))\@Q@D`5/`#`]F\/S%6UO`=@D:-@>KR.Y^TQR;E!_8H&P-
MJGBN.DTSJHE9MK<XBIJ0M2C94G.H>.8'8*)B`)/3&$W(?=H>'S=.OP+?:W(N
MF6C$$*Z%YV7R]V"H2O9G8-Y4IS"F[NNFU-N3M8Z<'U&^4&O=,HA5A^:TIK4^
M7(KTY$@\,0TV+S,^^Z1D3KU['&VFM1@&'N(]2FY`G'/=\PB4'<@YR<U*NIR\
M`$R:*`#V@4/48[;PU['CBRW-SJ4LO:1)$@]Y1":>^3Y\!^Z\1V[))BUE9Z?%
M!V!UED;WV$L8/ZHP_P#A/S0V5V,@DUW$;;J%:(A0J::DMAR;GJ5+,S`H3O'0
MPES?WEA+B*7-^:!]'AS<!YP#B&J#6_#)ICQE]O:E/%+7@MPJR*?<S1B,KQ[<
MK8V#1/$C-F6/<.G*5(XO;L0:U[(Y"13RUEX>[@F?9UOXVS;Z*:>TX%O:$E*1
MS5!Q:\=SY6T-DBDF<*&13)9:N#QVH1JHL02)OFBKN-7/Q*DX.8#%*M>[]C;E
MV/=^J:]`4C8D)*M6ADI^@]`*\>*D*X[5'###;8WAM_>%EZ[H5PLH`&="0)(R
M:BDB?E*:@T/Y+4)4D<<0W;I?,6Q6V3<3F+;^YVE2-S6Q+>9BEJ6I'-K6!2GA
MB52I^T20Q\4RQHT'`&X]T+E?D[.<=%_:WA[N=S;>M-?354A6[A$F0VY8K6O#
M-WRUIY:#S8%VZ^NFG;5W#=;?FT^>66V=5+K(@#9D5P0"I(X-3SC#!?Y44']"
M.6_[",_^&-7_`/:]=^VH_FK?^1C7O[E-)]EW/QJ?!PO\J*#^A'+?]A&?_#&I
M_:]=^VH_FK?^1B?W*:3[+N?C4^#A[-MWF/HG</N`PS@A#:))5-;+^2J=CI.S
MK9P:S2<`:V3C.&"7/$$Q/%FDRL/%]YW`.4.]Y>7O"\>(4FY/#O<[>T"\UU]6
M25;2W>7(+<J6R*6RYN^:E:4K0T\AQ>[9Z\:;N77K70H=/GBDNI<@=I$(7@34
M@*">7EP39Z>';Z?LZ6VO#W\'O`(/F8OK`*%_2QCW^)N9=/-X;/L#/]:2_(V^
M$I\1GVZM_JJ+Y>YPRW1>Z<F#^HC<<[UW-=DR=6V6,:O29J`5QG-UF%=.G=DE
MK`P?$ECV6GVY)PW22BDQ2!(B!BF$W$Q@$`"YZR=1-;Z?6MC<:-';2/<RR*W?
M*[`!%0C+DD2A](UJ3V8^#H[T^T/?AOUUEKA!;+%E[IE4GO#*#FS(]:9!2E*<
M>>),MV7EGJY4L:7.];6<W7RQ6>I0$K88_&63X:`EW5R")8KOU8"%ME39U@D?
M//R("FR*K%+HKN#$2441*85B#3:WB3NKG4H;+<]E`EI*ZH9H69>[S$#,R.7J
MHK5J."!4BM*$D;B\.>F)ISS;:O+GUZ-698YLCK)0$A`RK'D)/)B&'E'',!.:
MK:;+1;/`W&GSDK5[959AA/5RQ0KQQ'3,%-Q+I-[&R<<];'2<-'K!X@11,Y#`
M8IBZ:R[M+6_M9+.\C66TE0JZ,`596%"I!X$$&F%5L;V\TR]CO[&1H;Z%PR..
M:L.1]WCS'(BH-0<6@NPS/S_=%L[V]9XF$TTK#D#'46[M()`F5!2WPJSJLV]R
MV313230:.[-"NE4DP*`))G*3U:YE;WT&/;&[=0T*$U@M[E@GER-Z:5]T(P!/
M:>..E&UM8;<&V['6W4+)<VT<C`&H#%1F`/"H#5'(8%RZ]_54G+O<;?L6P3-J
MQF/J<_\`8F?+9&+*(N[U;&!P-(8U9.D5`,2H5AX/<RQ>!3/I-`Z!OT=N/B6;
MZ#]+8;2TAWSKJ!KZ5<UJAXB)#RF(/_4<<8_T4(;\HC*N'7'J9,9I-DZ')EA7
MA=N*U8FG^PI'YM#_`+M.9_VR:9U:!/:'LPSYO>RDSQ9@BHJS+X.X=6>U20K,
M*30H1944SSMQL`(+HQS0`(?N4"%5>O3D%-LBLI[G1WW=O/0=D:6=3UR4(O)(
MQQDE;]&->T^4FBJ.+$#`+V?LG7=\:EZAI$?H#C)*U1'$OE=@/RC^:@])N)`R
MAB";*/Y6VD)P38V2-V=L>651$IGB=(QK#1D&T<&#B=NU5GK'+/Y)!$_H!8Z;
M0RH>GNB?DZ6F]\3VHF<_1VE0K;5X=Y*Q8CRG*J@>;C3RGGAD++PVZ"D`&HZC
M=R7/:8UCC7S!6$AX>7-Q\@Y8Y*W9>6MSKBFI2MWVTY19[A4X=L=\]QS*5I*B
M9"<-$0.=P%86^$$W7K4^12)S^&,I'.%@]P@1942)GVS:OB0T;5+I++<MH=/S
MF@F5^]B!/+.,JN@]T9P.V@J1J^Z/#K?6=N]WM:[]:91402J$D/ERR@Y"Q[`R
MH/*PY'3H0=-?<1/;A&&ZJXO,AX"Q]A*ROH=-BHTD*M:\LVJ,=KQMFQTZC9#P
M;QM1HQPV,VL0NFRA'"H"Q2)WY5UF?GKKU(V_'M]MJV2V]_?WD88FH=($(!24
M$5!E-:Q96%!Z9J"%;]>B'3G7[;6CNG4O6+&U@S1K&04><DT=74T(B4@5#+Z3
M@$4R`XBAZK'UCF\GY=+A^L)Z*_2G^G.C_P`$GX3@5]8/ZE:K^VC^0BQVSTLN
MC5!=1S"M]RU)Y_EL3+TO*+O'1(-ACEG<DI!-K4ZK9@E#OW-RK1VRAS6,4NY!
M)0`!(#<_$PE#2^J/6&ZZ=ZU!I4-@ETDUJ)<S2E*$NZ9:!&K^16M1SQM_3#I'
MIF_-!EU>\O)X)8[IHLJ*I%`D;@DMVG/V<*4[:XDW_P`6&H?32LGS%1?_`"KH
M:?W07_L>+YPW[K!(_MLT'VE=_J1X>G;CY<2L;>,^X;SLTW9SUJ<XAR33\B(5
MIQAN/B$)Y2ISC.9+%*RB>2I!2/(^%IW8K`@L*?-S<AN'`:7<?B(O=PZ#>:$^
ME11)=V[Q%Q.S%<ZE<U.Z%:5K2HKY1B[VWT(TC;6NVVNV]_<R36LF<*R(%;@1
M0D<>W!,/IX=GI^QQ_'I<*<,'?`('F8OK`*%_2QCW^)N9=/-X;/L#/]:2_(V^
M$I\1GVZM_JJ+Y>YPXGEMLX86PID?=.]S+E_%V)&4_1\8M()WDZ_U.A-9ITQG
M[<L];1*]JEHI*1<-$G"9E2(B<R93E$P`!@U7>(S1=9UG3]+31[2ZNWCGF+"&
M)Y2H*QT+9%:@-#2O.AQ<^'C6-(TJ353JEU;6HD2W"][*D>8JT^;+G85I45IR
MJ*\Q@FC.G5.V+8>Q/?LB1^Z7;UD::J=:EI."H6/LRT"ZVZW6%!FN,)6XF!JD
M_,2YUI>4!)N=?N00:D4%58Z:1#'*M>B],-\:OJD&GR:7J%O#+*H:66WECC12
M1F=G=`M%%32M32@!)`PPVI]1]DZ;837OTI83-%&S=W%<0O(Q`-%5%<L6)X`>
M7G0<<5LM=K%TRC<V5:I-4G[K=K;++)0]4ID#)V&?FI-X=9T9C"0$*U?2;]<0
M`YBI()*'Y"CZ.`:Z-7%S8Z38FXO98X+&%!F>1PBJHH*LS$`=G$D<<<]XH-1U
MW5"EG"\]_<2LW=Q(SDEB68*JAC0#,>`-`">0Q8=XM<3/3'Z.M?F+@U0)>,#;
M<9"T/H.2_,((93N;A_88VG2`F,4P@WR'<D(M42CQ4$HB0.(@&N?.IK#U)ZNR
M16;'U*_U((&'/N4HA<4\L49<?XX?^P+[!Z:QO>!6N--TS,ZUH#(L=2@-.V3T
M0:=O(XKJ9N:E++-2]AG'R\G-STF_FIB2=GYW,A*R;I5](OG*@C[M=V\7.H<?
M68PZZ'6\$5K`EM`H6"-0J@<@JB@`\P`&.>]Y=7&H7DE[=-GNIG9V)_.=B68_
M_9B3Y!7%COT==G$?L[V3XXAI!@FEDW+4;%Y>RH]68^$DDIZV131]#51UWR9'
MA"4:O*MV!DCB)2OBNE2`7OS!KG5U<W>^\-Z7-PA)TVU8P0"M1D1B&<4)'^XU
M7J/S2H/+'0GIGM1-H;0M=.<#UZ11+.:<3*X!*FG/(,J`]H6IXDXE2T,L;_A:
MF)C`%*''@`!Q[>``'X-8H`.'+$]W%9+U6/K'-Y/RZ7#]83UTHZ4_TYT?^"3\
M)QSVZP?U*U7]M'\A%@A;RZ.YW;7A#:=F>N9HW"X.Q#893<1)S<9`Y0RS0J!,
MR,,IC/&[!.781=KGXE\\C#OF*Z(.$R&2%5$Y.;F(8``7B%VSN/6MU6=QHVGW
MUW;K8!6:&"650W?2G*616`-"#0FM"#VX-_07<NW='VE<VVKZA96MPVH,P6:>
M*)BO<P#,%=E)%016E*@CL.""?[@FPKZ;NT/_`+)X9_?30"_D'??L75OF=Q^[
MP</Y[V1[9TKYW;_O,.YBO<+@+.IIPF$<XX?S&>LECCV0F*\ETO(1J\67%Z$2
M:<+49J7&)+*#&N0;BOW??^'4Y.;D-PJ=4V_KVAA#K5E=V8EKD[^&2+/EIFR]
MXJYLM16E:5%>8Q:Z9KNAZUG^AKRTN^[IG[F:.7+FKES9&;+6AI6E:&G(X>#5
M1BUP!_YF+ZP"A?TL8]_B;F73R^&S[`S_`%I+\C;X2GQ&?;JW^JHOE[G$*&%=
MO6X+/[R?88#Q+DG*[^M-F#RR-,<UF9LKJ&:22KE".<RB,,W<*-$':S54J9C@
M`&,0P!V:,VM[AV]H"1OK]W;VJ2$A#*RJ&(I4#-SI45P*-N[;W-N$RC;EM-<-
M$%[S(0,N;-EK4CGE:GFPZEHZ?6^RGQ3ZP6C9_N2B8:.04>2<LYPW?3L6#5(!
M.L[D'2,&LDT;IE`1.HJ)2%`.(CJKM.H.Q;R9;:UU?3FF8T5>_C!)\@!85/N#
M%I>=-=_6<9GN=*O<G,E4,GOG)F/G)PU>W[/>2=K>7*QF3%RE?87ZDOE'$2M:
MJ?7;>T9N0XHN`",LT;($CGPI@=('37PT@V`Y^Y72,(CJTW!H&F;JT>31]3[Q
MK"917NY'C)',>DA%1VT-5/"H-!BIVYN'5=FZTNJV"QB_BS+26-7H>3"C`,C<
MU)4JZ@LM15@21]RW6*K^_P`Z4FYJ@3E;8XRW"5TV%#V^JQ;YP\KEQIB^8Z(2
M2M](5>\TDS9-9A)LV?QSI199F#U#E<.2*&,FN6VND%QL/JIIE[%(;G0)/6.[
MD(`:.06\M$EIP)RDLK@`-E/HJ10L;N#JI9[XZ6ZJB+ZKKD*P"6*M0T;W$2EX
MB:%D8$JRTS)6AJ"K$5N';H/)>+:.C<C9U(LFS@_'AR(+N4TEC<?5RIF$=-)<
MNT=O)(GY:HQ'G`)&%<TV&*XU&""8TA>9%8^0,P!/O`XMP8]DTC6#*.8(D;L6
M#1LR9-TB@5-!HU1(@W13*4``I$D4P*`!Z``-<H'=I',CFKL23YSQ..H@```'
M(8]>O&,X6IB86L'EB8K).JQ]8YO)^72X?K">NE'2G^G.C_P2?A..>W6#^I6J
M_MH_D(L<O8[V[Y_R]$O)_$^#<P9/@H^1/$/YK'F-+G=8EC+)MFSU2+>2-;A9
M-FUD2,WJ*HHG.50$U2&Y>4P".TZAN'0-)F%OJM]9VT[+F"RS1QL5J14!V!(J
M"*\J@XT_3]N;AU:`W.E6%Y<VX8J6BADD4,`"5+(K`$`@TK7B,?O_`.2#>C]$
M/<_\P>5?W4U\'\[;-]K:9\Z@^'C[OY(WG[(U3YK/^[P4CY:7!V:L-R.\4^7L
M/Y1Q62PLL$$@#9'Q_;*.6<-%KY>-)%B#6:)C`DACROT!7!'G[KOD^;ASEXK#
MXD-<T76(]'&DW=K=&,W.;N94DRU[BF;(S4K0TK2M#Y,,MX>=$UK1QJWTO9W5
MKWGJV7OHGBS4[^N7.JUI45I6E17G@JS2N897`'_F8OK`*%_2QCW^)N9=/+X;
M/L#/]:2_(V^$I\1GVZM_JJ+Y>YQTIY6G_P"H[O?D_P`4?[6.YAQUK?B>_P#Y
MND?MY_\`\1XVKPT\9-7/^2V_P-P*_@P99I/L-9@5?S(^R_%B.%JEO!I=5KM3
MR1"9$CZ9DB0@XAG$K9!@+JUD#QTM8SLP0)*V.NST6DFD[43.Y5:OE2**&(BB
M5-GO#GO#5!KDNT;R:27398&DB5F)$3QD5"5KE5U)JH(&900.)PN_B!VGIUQM
MP;J@CCCU.UE178"ADCD8)1B*5*.5*EJT7,!^5@,TJBA0.4ASE*H3D4*4Q@`Y
M`.54"'`!X&("B8&X#Z.)0'M#3DE5)J0*C_X_]L)P'D`*J3E(H>)XBN:GFJ*^
M?CC!>(&`>(E]8&](<.T.(>OMU#RQA.#`G@/+_P`?\'%IQLHSQ!;F-J.!,UP$
MFE*$NN-*RXG%$S\YV5RBV"<)>89SQ]T#R$M\:]:J<?08R7,'$H@(\O=XZ'<;
M<W3?:+<J4:"Y<+[L9):-A[C(58>?'37;>LVNX=!M-9LV#07$"MS!(:E&4TJ,
MR,"K#L8$8ZCUK6+O"U,3"U@\L3%9)U6/K'-Y/RZ7#]83UTHZ4_TYT?\`@D_"
M<<]NL']2M5_;1_(18*'\L$`#LUSMQ`!__3<K_"C%NEG\3'VPL?JT?+S88KPY
M_8RZ^LG^0M\$I\`^P'W@TN&#_A<`#L`/O:F)C.IB8`_\S%]8!0OZ6,>_Q-S+
MIY?#9]@9_K27Y&WPE/B,^W5O]51?+W.'S\L3;JI4LE[M%[59Z_647E$Q6BT5
ML$S'0R;M5.P7%11-L>1<MBKG3(8!,!1$0`?3JB\2]K<W6GZ4MM')(1//7*I:
ME5CYT!QL_AKDCC?5^\8*"MOS-/SK@]OG_#@NBP[B]OM2BW,Y:<YX?KD,R2.L
M[E)O)5-BV#=),HF.=9T]F442``!ZQTIL&@:[=2"&VLKN25C0!89"3[P7#1S:
MA86T;37$\*0J*EF=0`!S))-`//@07KW=4G"NZ"H43;!MLN"60:E7KL:_9.OD
M4S>MJW(S4-%OHBJU:MOG[9J:?8M1G7CQZZ1(9F99)J""JO!7E;7H/TPUO;5[
M/N?<L)M[EX>Z@B8C.%9@7=P"<I.1553Z5"U0.%58ZY=2=%UK3H]K;>N%N$[X
M/<2)Q3T%JD8:E'JS!V9&HI0+VD")#I8;7)C=EO>P?C\E5-:*+7;?"Y'RZFX;
M`O"L\94F682T\C/G.'<IL+(LFA#D(;TK+R*:8![KB!9ZI;HAVILJ]ON]$=_+
M$T,''TC+("JE>TE!5Z\@%XX%/2C;,NYMZVD+1E]/MW$TYH"H1/24-7@>\<*F
M7B2I8TH"0W._;:)==D^YS)&$K3%2+6"CYN1F,8SSQ$2MKGB^2DWWP/LK!P!E
M$7)E6"/AWA2'4%M(MW"!QYTS!JQV#NZRWIMFVUFV=3<%`LRCG',%'>*1V<?2
M7])"I'`XK^H>S[K9FYKC39$*Z>TC/;M6H:%B2H!YU0>@P-2&''@1627HU]7Q
MKL0=3&$<X,YB<VWW2=5LJ,O"-E)2QXJMKED@S>RT=$=\F,S4YXC)`)%FC^DM
MU4@=-BJ*&617''6+I))OA4US0RB;BA0(58A4G0&H!;\V1*G*QX$>BU``00^D
M/5F#:"-M_<)<Z$[LZ2"K-`Q`S#**DQ,16B"J,:D,'8H91CSJ%[&<J0B=@I6[
M+`CY@H4#&0ELEUBJ334!(!P]H5NVOX.Q1AN4W8X:I#]X=)]J&P]ZZ5-W%]I5
M\DGN0NZGS.@93[Q.&WT_=6V=6B[[3=0LYD'/),A(\XS5!]P@''.6XSK0=/7;
MM#2CA?/-9RY:F:9RL*/A!XTR1*2;T$CG(T-/0;A6EPX`<H`H=[)("GQX`4QO
M<#L6WNCV_P#<4RK'82VEJW$RW(,*@>7*P$C>94/_`*<<:[K_`%2V-MZ%WNM0
M@EG4D=U"PED+`$Y:(2%)I2KE5KP)&(XNGKY@B-W(;D+'A_<;5ZOA^O9,LK!G
MMZEXQR^>M820>%91##'-]G'!$T7\A8GA`7:3'AV2'M!PHV.F1([?N2%U!Z!W
M&W-N1:OMZ62\N+:(F[4@`L!5C-$HX@(.#1U8Y0&!J&KHFQ.N-ANC7I=(U6)+
M-9I`+0DUS5HO=R-P`D9N*$45BW=TJ%+C*]5CZQS>3\NEP_6$],MTI_ISH_\`
M!)^$X7+K!_4G5?VT?R$6"-_+=YPPOB_:/FN'R7EW&&/)>0W'2DFPB[S?ZI4I
M%[&FQAC1H60:,9^68.7+$SIJJF"I"BF*B9B\>)1`%X\1>CZOJ6[+*73K6YGB
M73P"T<3N`>^E-"54@&A!IY",,%X>KNUMMG72W$L<;'47(#,JDCN(!45(X5!'
MO8(=_F[VH?2=V]?/1C?]Y=+Y_*VYO9U_\WE^!@\_2FF_]Q!\8GPL+^;O:A])
MW;U\]&-_WEU/Y6W-[.O_`)O+\#$^E--_[B#XQ/A8<OXU,8_`?XSOC&HGQ:^&
M\9\8?PNK_P`!O">.]E^*^%OM#X/^']I_H_/XCE[_`/-\>?T:KOH[4/7?HWU>
M?Z1K3NLC=Y6E:9*9N7'ERX\L?3W\'=>L9T[BE<U1EIY:UI_C@0KS`VSW=3GS
M>U2[IA/;SE_*U29[<:/77=DH5#L-GAF\\QR#E:0>1"TA%,7+9.1;,91LJ=(3
M<Y4UR&$.!@TVO0/>.U=`V7-9:WJ%I:W9U&5PDLBHQ4Q0`-0FM"5(!]PX5CKA
MLC=FY-W07^AV,US9KIT<9=,M`XEG8KQ(X@,I]_$&@],[J%>O9;N6^:"ZC_ZG
M1N^\SI][9T[XY/QX#?W5=1?95U_H^%CT-NF+U#7*A2)[,-QA#"(%`7&+;0S(
M`B/#W2KN/13*'VQ$`UY;J=T]05^F-/\`>E4_@./:])^HKG+]%7'OE!^%\=<X
M(Z"/48S)+1Y+)BR-P=5G#E(C^U98L\(Q59M1'BX50IT`]G+DZ<I)<>[349-D
ME#B!15(',<NIZYUXZ>:1`QM;EKZZ`-$@1B">RLCA8P/*06(\AY'9M$Z#;\U*
M<#4(X;&U!%6ED5FRGF5CB+DE?(S(#P&8<<&9]/7IQ81Z>6,W54QX5:U9!M1&
M:V3,M3C-%M8KF\9"L9FS;LTUG:-=JT69PIX..054*03BHLHNN8RHIWO[J'K?
M4#4A=ZB1%815$,"FJ1@\S7AG=J#,Y''D`%`&&TV5L71-BZ:;'2E+7$E#+,W_
M`#)6'*I[%%3E0>BM2>+%B?NM^W3YP=U`<5JT/)[`(2X0Y#KXZRS"QS%>YX_D
MCJIJK>!6<=R,G7I7NP3D(M94K=T3@<HI.$T7"7X;&W[KFPM4]?TML]J_"6!B
M1'*/=IR8?FN!53Y02#^^[]F:+O73#IVK)1QQCE4#O8F_21B#2OYPY,.!P$YN
M6Z%_4$V^3TDG7\4/<^TE-RN$-=,*\+.YD&93"9N:0H15"7R(D.X,7ODP8N6I
M%>)$W*P`!S.AMSKCL'7K=6NKI=/O*#-'<>B`>VDM.Z8>0EE8CB5'+"@;@Z&;
MWT:=OH^(7]E4E7A*AJ#EFC9@X;CR02#_`#8C"G<)YGJ\BK#V;$F3J[+-SF26
MBYVAVJ(D45"F$ADU&4A%-W)#E.`@("7CQ#1-AUW1+B,2P7EJ\1[5EC(/OAJ8
M'$FT]U1L4DTV_##L-O+\##_8@Z>&^/.[EHCC':WFB<:/5B((STE2Y2I5(#J"
M4`[VXW%*!JR!0`P"83NP`I?2/HU0ZOU#V1H2DZEJEFC@?DK()'^+CS/YN&+G
M2NFF_-8?+9Z7=A>%6D3N5X_YI<@/NTKYL$[]-7R]47BR>K&<-[SR%N-T@GQ)
MBN8&@ED)BBPTDS626BI+(-@*(H7)ZT73%7V4U)[+`Y2"LN]3,=$JS=2.O\VK
M6\NA[+5X;&1<KW+>C*RD$,L2?],'EG)STK14/'#)=.NAEKH%Q%K>Z72YU:,Y
MDB3C#&P-58D@&1UI45`13QHQ`80[]2/8)O;R/OPW57J@[4<^7"F6C,5IEJW:
M*[C"V2L%.13A=/PTA%2+.,4:O62X%XD43,8I@[!T7.FV_MDZ;L32["_U6QBO
M8K15='E4,K"O!@34'R@\<#'J;T\WKK.^]1U+3-.N)K"65"CKEHP$4:DBK`\"
M".79CB3^V=U"OH6[EOF@NG[)UN_WF=/O;.G?')^/&A_=1U$]DW/^CX6%_;.Z
MA7T+=RWS073]DZGWF=/O;.G?')^/&?NIZB>R;G_1\+"_MG=0KZ%NY;YH+I^R
M=3[S.GWMG3OCD_'B?=1U$]DW/^CX6"T?Y?<X_P"/#_+_`/%)D'X\?BJ]E?%-
M\%)CXP?:7\POM[P/P6\)[8\3[#_2^7NN/A_=_D^G2G?S!H?W_?3_`*W!]"^N
MYN_SCNLOJV6N>M*5X>?#:?06K_<U_+_J[_3'T3W7=<,W>4IEYTK7W:>[@BH.
MP.S[GXM+^/>P7,9UZQ,:>^][^/6.W$QDG9ZO_'_7;K`Q,;:]8F%J8F-3>KL[
M??=G8.L'F,3&/5[SM^YV?AU@8A[,8]][SM^[Z^S[>LKRQ,?)K.)C0GY/^O\`
C?[>L+^2/-B'GC?6<3"U,3"U,3&GOON_=_)_!K'X\9[,?_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>bell_logo.jpg
<TEXT>
begin 644 bell_logo.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`/`!E`P$1``(1`0,1`?_$`*````("`P`#````````
M``````@*!@D`!PL"!`4!`0$!`0`````````````````!`@,0```%`P`&!08+
M!08'``````(#!`4&`0<(`!$2$Q0)(146%PHB=[<8>#DQL3(C)+0E-74X&D%1
ML]<9<8&A0E>74C-3)B=8F!$``@$#`P0#``(#`0````````$1,4%Q(<$"46&A
M$H&1(O"QX3)"DO_:``P#`0`"$0,1`#\`%[+7F;\P6'Y7911&+Y@7X8HQ%,C[
MZQB-L;9/'5*VLL?C]TY6T,K0WIBS*`3H6QL1E$$@IT`+!2G[-.C<.-/I%7%0
ML`_4YK7,BI6E?75R$Z/WW"=ZT_OI4RM*Z)Q](OJC;5ON=]S1;=+2E*#*V52=
M*$0*G-=P8U`IVB5`#6E:E&J)+%E[P0$=*:JB3JB3-5>@5-),U2_F!ZJPPCRW
M?$>M5YINS69S@C<-M?(I,L;6:&7F@Q+HVV]7/:Y0%$F:[@L;T[/2F'"7'&%[
M#L2K-;*&C%Q!*(D.]T0G2I&HP-7Z8(9H!F@&:`9H`EOSTN9%G#B]G<XVML%D
M/++:6_)M/;I^+C+.SPM<B`\/`'FKDNH>^QAV7[U75.#:IOMBFST4ITZ]T2QN
M.*F9ZAE^'3S<RJS`>,MT^2MYI#=DF`-MD3X<6^ML8;Z,1LF576+?1I:QUA91
M&U<@,*.@]]4RE-P'9V=8M<=`U#T`WYZG,AS@Q=SM6VML%D-*[:0`NTENW\$9
M9V>%K487EWJ^=9+Z'OL8=E^]5\*7M4WVQ39IJ#3IUVR'%3,]0%XQS<>8\MPB
MO=<Q5E7-SIW&<J<6H*Q203#;ZBMMB4YM)F'()8R$D!AP4(TST\V\93S!C*$:
M$2`%`#"$1E!OHL*8*JLV?SHYA^U9D;Z9)IH=7DTJ+"&NO#QX:XEY!8,3:9WS
MQLLC=V7I,D9[&TLHN+;6)RZ0)6!%;^U"]&S)G=[:UB\AM2K752<62$R@`&*#
M!4I2HZUK&VJ&7,A<\PGD-87W4L;<B7X]VK0V*OC#85)I/"#+=*U;3#9:\,34
MI=4,2E,-4F+H^2W/1B6J8"MN(1+$IIP#!#.*+JG'4Y<,DM:V.?AT"#^P014_
MMI6E:?XTK30;.G9R>LA91D[RZ,;;GSA08MF9$<?+>21S.K41[TNM7+7ZW:9^
M5FUK6I[@_-,;3+%8^B@E1YE:4I3HTG*L]3%-"S+3(,T`S0#-`.>SXDWWEKMY
MD+4?PW_3I98W9>-\[(L`\*!]_9S_`(1CI]=O;IET'*H`?B4/>5N'F,M3\<DT
MMEC<<;YV16U#O=T9&>VKA=Z"\]]!;D$S9_.CF'[5F1OIDFFAU>2JBPAS[PQS
MNTM_+VGQ:]T;D)GK47&-W:M:F3#W5;:V;IO-DXT`MWK!6FOX.BO[M([&74-'
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MZA!3C+[23P#708N@`E"N-M4DJC)$+HJ8<$L`?A%4--=:/7NAKT+<+07JM)?^
M#M]R;)W%B%T8(Z&GIDDHA;VB?&OC4E046MJHU&:8-`ZH1&!H>D4!*4D"K2A@
M`UKI&FJ@0H\2;[RUV\R%J/X;_INRQNR\;YV18!X4#[^SG_",=/KM[=,N@Y5`
M#\2A[RMP\QEJ?CDFELL;CC?.R*VH=[NC(SVU<+O07GOH+<@F;/YT<P_:LR-]
M,DTT.KR546$0.!X[7^NNRG22V%B+R7,CJ=P/:%$@@%K)Q-60AU3$)E2EJ.=H
MXPN:`IQ3IEQ)AA`C*&@+.`*H:4&&M6HE*YXS3'R_5LF\3I<:QMX;>-1=-H;C
M.+83:(-P*5K\-5D@8VY,&FNO_%HAUL25U1][&G).Z6)=WHU>^SBF+HI[%##1
M-2N5PF*SA"26I#NE@$Z24-3D)G5*DU1$U7-QB)R*),,`2I+H,>LG!6I.@'RH
MN<3;/F,LZV!25E16KR8B+*!WD=OREYBN/31E3<,E<9G;A:KV5HV].N4`XQJ4
MU-6M@3B_GE96THI&M)5#$-5*-.?#SAYM*KE23#/%2XKG&+<00QVBM^)S#UAK
M:Z7`FQ9QC<_6\;GY-NW!+#8C4HQ$Y<*851U7B/),J-*0'?U:+N5*=70I0P;Y
M8^67,&7O`K!Q%F(A<8<2F>571GCU6-6^C[L:F(6ELYJU,B=WUX>.!4EG#2M;
M>N.(*,+&<$H!I8A.[*W&0X<B_#K9_6!M\_7*;3+17N98LT*GR0,MI)/)E4S1
MMC>4)0YK$4<F,,B(GT")*`1NY0'J5IH0UH6G$+4&I0Z5'MU*Z\&\[+ZX'7DC
MMT;12MW+CX7AO-N';,QT5!A-S8R$TL#HRR%FVQMPUYK;M@0N6ZJL;3ZA-)'3
M4((G9T#4Y"^YX=^H!E!E]"K_`%KE:M9!;HXTV>DC'U@0!*YH=OM*B<V5W3%F
MGDIWE@>4:A"L`68:6%2G'0`QAI05:U"2[;LG"^=D6T>%`^_LY_PC'3Z[>W3+
MH.50`_$H>\K</,9:GXY)I;+&XXWSLBMJ'>[HR,]M7"[T%Y[Z"W()FS^=',/V
MK,C?3)--#J\E5%A#I_A@_=YS[VK+C>C2S.DY6,NHQ:I3)UB<](K3DJDBHDQ.
MI3*2@'IU!!P*EFD'DFA$6:2:6*H1!%2H14KJK33)!+_Q''+:M%9R-03,NP<'
MCMMT;Y,B+;WDA<.:4C%&5SP_(7E\B]PD#&W%IFQH7J#VA2@=>'+`!8<>D.J"
MAW$&F[3E:U*G#BPL/8.^%P,;;RVZOI:YV,9IU;23(9(QJ@B'0A3P]1$N+.XE
M@$&JAF?VH\]"M)UTH<D4&`UTVM>A:&FI4&JUZ]<Z+ECFYK%+@Y.*M0O<%ZPX
M:A8N7+#AJ%:Q4>96IAZE2>8(8QBK6HA"K6O370!D/"GQ"#+A)C5;3'&!X-LK
MNA@K49U]+!7^/9%TZF+JH,<91,W-N*LFYU2*GMT/&(L@2I55&E"2F":,LD%=
M#AF?5A4_JP'[_P!$FC_Z46?R'TD(>K%;<A[G1J]-\KJW;A]N&ZT,=N1-WV:(
M+:-#L!\:8:*0K!N2YF:G(ICC9)K:4X*#1$``@2ED%#"4$%`@I6M;DTE"@U4L
M=7%P3-*-:L.4IF)O-:F<@T6T6WMQSJYOAJ--3_(28[O*I16G_4/'7]N@#<_A
M0/O[.?\`",=/KM[=(Z&>50`_$H>\K</,9:GXY)I;+&XXWSLBMJ'>[HR,]M7"
M[T%Y[Z"W()FS^=',/VK,C?3)--#J\E5%A#I_A@_=YS[VK+C>C2S.DY6,NHQG
MID@ISXGG,&"I+2VWPMC+TWO%Q9#-VBZ]R$*!40K,AT/C38](XPU/991@JH'>
M6/KP%8G)'\Z!(V5,&`(%!`Q[6BGJ55$X+9VYF%W[A0NUMOF91()M<"2L\2B[
M.F#6IBYX>UI*%&6(5`BH2G`8=MG&U\DHH(ABU!#6NA:FFXU(16@@UJ$01`$&
MM:"",-0#"*E=50B"*E!!%2O16E::Z5T`<6Y?G(UY;6;V)-GLA6RY>3@'Z3QQ
M.V7)96FX%M4Z2,74CQ9;7/V$A"KM`N7H6XI^),4-P5!QAIK4I2G5&.AH1B-Q
M@S+#-_2_\O?_`%&RP_W$M=_)32>W82S/TO\`R]_]1LL/]Q+7?R4T>W82Q5OF
M[X96JP.R_6V$LV[3AZAB:W$(EH%UPG9E>I$)SD@702\H:UACL7;ZHR^#!N@T
M2T&'IVA"U]%LGV+Q;<SU+M_"@??V<_X1CI]=O;I'0G*H`?B4/>5N'F,M3\<D
MTMEC<<;YV16U#O=T9&>VKA=Z"\]]!;D$S9_.CF'[5F1OIDFFAU>2JBPB;X]<
MQ+-3%&#K;;8\7_E-KH,XR1?+UL=96B'+DBB2.:!J:U[L,Y_C3NMH>I;V-(54
M-#:%T"134&E:BK5)&DS8TTYN7,KN`RJX_),RKRA:UQ)B94"-.S7!%AI!P:@-
M*JZP1IC3M0!@!5"*E#Z4K2NK1.!ZH!V,12XMWYFGC\/CLRN;<&5N!@T[/'FM
MYF$ND+HL/H(XT")O)<'=S6*%!VT8/9&(0A:Q5UUUZ-671+L/`<C[DNO>)RY+
MEAE0T(B,@%S2K16TMK4Y$Z!LXT/2425T?GU<C-5(#[CO;8<8D"4F,,*:4!YQ
M8C#%"@P"6-QHC#<X*<N>+RD)KC%=V5Y,6'ALBD^-5SW1[F<K`QMJIW#8R8.:
MX;E(6Q_"A(,$U6\=5JT:AG7&!"E1T$)`<,%2DPU5_P!M;E3C1E56&?,%RFP+
ME3E),=[@C96Z0;KM9`9$D[1VZEHDX:`3*7R+*3B20NB4%-@IP1F)'$LJHB@J
M*%C&`2;.A6I+6Y'XG?F%O+$)J:83C!$7(PBI0Y,QV\GJUU),J'5Q*)))[K2!
M@+.H+II0Y&H+_>&M-$+H/4CW*UYI.?KCS`$+P[K;JY:`R#=6>/7>MJD#5P&E
MCR974A%-84T)@((C;D%N"EYI]*%`;&2J$9Y*D1-#`*2+50Z?T1I)3?\`L^1X
MDWWEKMYD+4?PW_198W8XWSLBP#PH'W]G/^$8Z?7;VZ9=!RJ`'XE#WE;AYC+4
M_')-+98W'&^=D5M0[W=&1GMJX7>@O/?06XX;=?\`3>]ZUSN]GU>.];O%G'>A
MUKWN]9]XW:=U[<]9\#]`ZQ[4<7O]S\UO=K8\G5I?WV\'/[\D`'^E]UTU^K5K
MUT^1WTZO@Z->QY.K]^OHT?OMX+]^28QC],KQ9'5GJ9;[>E[OM=VBX/:VJ;._
M[<_0-UM?*WGD:OE=&C]]O`_]>2ZS&;U-NS1_J>>K9V3W2;C?5R[L^I=CRN&Z
MR[M_HN\VM>K?^7M:]?3KTR_:-9@:3W"<TR4]99PG"*N/X;@.&/XWC-UPG";H
M7$\5OOF>&W.UM[?D[.O7T:`*HYZ?IK^WSKWH=D>]7:.ZZ]4/MYPO&;?TKK?N
MG_\`"?7^_P!KB.*^T=[M;WRM>G3]?]1\_P"-1K'YG^9`/MW^F`[0(>T7K,\'
MQA.OO$[X>S^O>!V>.[K?M[@]?R]71LZ]KHT/MZ^=Q^^_@;3P<]1#NG(]0?N-
M[LM9/6'<YU-QO&_.[OMWNO\`N[M%\K:Z]^T-7RNC3+]KT)I\@29W?T2N_M5Z
M^/<UW^=DHWQ7;CO(Z][([*WLWM=F/LOA-G?[O5Y?P[6FE[QI$?&XT[^3=/+C
M_I:<9=W^F_W9\;PL'[W^[SMMM\+O99V&ZV[7^3L[WK;<</TZ]YM_Y=,\O:\>
M-@OGYG<TOG?_`$3._I1Z^?<WW^=D8YO^W/>1U[V/^G=F]?9C[+X/_G[O5Y>O
M:VM*O:-(CXW'WY-$M?Z=3N/G/5?J_P#<;WK6I[=;OO<ZD[U^R-Y>ZGC=Y]H]
7:]D.V?#;KYC<[_>^5N=+^^W@GWY/_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>cover1.jpg
<TEXT>
begin 644 cover1.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@!'`)R`P$1``(1`0,1`?_$`*$``0`#`0$!`0$``P``
M```````'"`D&!0H$`P$""P$!`0$!`0````````````````$"`P00```'`0$`
M`0,#`P$&`@8+```"`P0%!@<!"`D1$A,A%!4Q(A8*02.V%W<Y)'@R4ABX&1I#
M)=4WM]<X6)A9F1$!`0`!`04'`P0"`P$```````$1,?`A0;$"46%Q@<'1$I&A
M,N'Q0@,B4G*"$S/_V@`,`P$``A$#$0`_`/OX```!#NW>A<+\UTU;0=_US/<=
MIB)^HEL&A6J(K#)X[YPO>1\5R3=(+S$HK]W/QM&A%G*G>\X4G>]X+):=TU9E
M?_,&_#S_`)+_`(G_`.VG6/Y3\GX_W7_*_>/\:^[]G^^^O^:?\K/\._'^'^W[
MOW_V_F_W7U_+_8)QPW\.O&<7&W#5IKB/H7"_2E-1T'`-<SW8J8L?B)K!GMJB
M+.R9N^\-WL?*\C'2Z\/*)?;W\C1V1%RGWG>&)SO.BV6,=UU3$(*7>LOD1\5^
M&?\`&D_5/H&GY-(7`_TK<`\:V.TVN3;<<)M5)5.H4:#L]H0@$'*O"*R*S1-@
MD;Z\.L7[>_2XXK)>K=-ZU]/MU9O]2J]\I4W'V:FW:NPENJ5DB%RNHJP5FR1C
M:9@9N,=$_M<Q\K%/4ET5.?H=-3G?]HB.B```````````````````````````
M````````````````````````````````````````````````````````````
M````````!5[VCZJHGB7R]LGJ#1DSNZYDU27F481!T@S>VFR/G36$IU/CW+CZ
MI(/K7:Y-FP34Z4_$>N/R&+TI.\"+);<36OA(\2>"?7'^HNWK0_8GLK9+53,`
MK=C<U=*4@6IU%%'/V)R7,@\]P$]V0K-.K-38O$%)"262?<*X7(99%^]<.ETK
MKONG8[7JG]7^/1^7%]'?_P`KS\2_^._PG_+O8/Y/]K^W_P`O_P"=EN_R+\OX
M_L_>_MOK_B7[K[O[_I_%_A^[_P"C^W^T,SLGW]W/_P!/[/\`:_;V?.+[;\'>
MN?\`3H;UGGK_`,:;-;;GY^L]C;5Q:2G6BR?"NTB*2',A]#P,#_'U6XURU,$7
M"D;(I),>F715,@BP>MFZZC3?-.QTG5/[?\>O\N#[J/#_`*XS_P!T>6LB]0YN
MDI'P6FUWKR2KCEVW>R--MT2\<PEQITFNW^TJKJNV2/<MRJ](E^Z;E3<%(4BQ
M>!7"RRXNL?\`,F^13R'[EIF:Y-[S]\VF>7U[V-=KDG'4J\IN^Z/$5FGPT`[C
M9FUM#];,*0R?-YA-"(KB#<G\='(I_>1K]2MBNJ;LW5Z?Z^OI^7PZ)_CC5_T;
M_B%_[7G@G_RMY#_PFP"^DY//?RO_`"O-HR(@````````````````````````
M````````````````````````````````````````````````````````````
M``````````/E)_U<FE35:\(8;F\6X6:L=-]*1;JQ]2*3I)"'HM!N4FWB')S'
M^I4%+!*L7G.%)]W5&)/[R\YTJE_C;MMN=/Z<7^S?V7V]6O\`\,N406._%IX:
MK<`Q8,D;'YYS[5Y,S$O?_&SNT0Z.KS+YXJ=%%5=^J]N)BJ=-PW"?9Q,AC)D)
MT+<_1GJS\KG7-:;B,LP_F?R2#V;XL_<5;G64<[)6//U]UN*5D$>*=83F*Q*V
MK1;U@KQ%95K(_FJ'X4SD^W[N*F3,;B9SBRXU[&NG/RF-<QBU_I"M.F;!Y"]-
M91(/7+N,S;?(FS0*#C^]*,:Z51V*3YBR5,<QB-3R=&5<]1YPI"+.%%.?4RIP
M_C&_[O\`Z>4]46?ZQ3_[H_#?_4?:O^&:`'\?/W/Z?S\O9]#?Q"_]KSP3_P"5
MO(?^$V`7TG)SOY7_`)7FT9$0``'!16JY?.Z!:<FA-(H4QJ=&C(>;NV:15PKT
MAH%/AK"D1Q`2]IIK216L=?C)Q!0IV;AVV12<D-SJ9C<[SH#U;K>*5FM4G;YH
MUOJ]`H]68*RMFN=UL$35:I78M'I2K24[8IUVPB(A@ET_.&6<+)IE[WGU[^H#
MTX*=A+1"0UFK,S%6*MV**CYVOV""D&DO"3L)+M$9"*F8:5CUG#"3BI-@X37;
MN$%#HK(G*<AC%-SO0]4````!P^C:=F^/5"5T'6K_`$O,*'!$34FKIH-HA*=5
M8DBRA4D>R-@L+V.BF?5UC<(3BBI>G/WA2_7O><`<YC>^X;Z(K![I@FP9GL]2
M1==8N;%E]WK=YB64APGWFCI!Y7)&11CY$A/U,W7ZFL7G]2\#!I<75+8#^+AP
M@T07=.ET6S5LBHX<N7"A$4&Z")#*++KK*&*FDBDF7IC&-WA2EYWO>_0!7?*/
M8?DW=[;-T+$_3.":Y=ZYQ<TY4<VUNB76R1R+4W".G*\-79V0D/V;57OXU5BI
MF235YTAC<.7I>7%-\U3!>M`H675>4O&F7>HYU2H1,BTU;[U9(:HU>(244*DF
MK*6"P/8^)8)J*GX4IE5B<Z;O.<_7H@X_(O0>">@(V0F<&V_(=MAXE=-M*RV1
M:53-)C8QRK^3\3>0?4V:FFK)=3\)_M(H<IN_9WZ<_3H=_`NZXNKIY_3,XJMK
MI=$M&@4BMWC2',HSSRFS]K@8>UWUY!QCF:FFM+KLB_;R]I<P\,S6=NB,45S-
MVR1U5.%(4QN!_C1M.S?'JA*Z#K5_I>84."(FI-730;1"4ZJQ)%E"I(]D;!87
ML=%,^KK&X0G%%2].?O"E^O>\X`YS&]]PWT16#W3!-@S/9ZDBZZQ<V++[O6[S
M$LI#A/O-'2#RN2,BC'R)"?J9NOU-8O/ZEX&#2XNJ6P``````````````````
M``````````````````````````````````````````````````'RV_ZL['I>
M\_'GG&IP[?KA/#_1-6D[.;Z+_:QJ-^K5GI"C_O4^F1X;ET?03;G%"\YWCGOV
MG+WGV*7^-FVV]T_JLG]GC+/7T:3_``8;U`^@?BO\?S4/*(OY#-,LA,%M+1-,
MJ*\'/8HT1H*$6]2(DD3BRU9B(YZF;GW=5;/$E#&Z8Y@O=IAGKS.NRZY:UB,L
MEOG-WB"P#XKO84W+RC>/?Z1E<W@]7:*E34<3D[MC=3/EXM@BJ10JKA&M34B]
M4[SG#)-6:RI>\ZGSO+._3#71F]<DURRN_P!(_C$U3/#VW[),,?V3;;-Z695=
M4_W_`))6LY?6(^$-*D[]W4?V?^6S<NS)].</^5DK]W]OV!_&;;:-?W7/]GA)
M[^J-O]8,FGWS%Y"6ZF3JJ>\7!,BO2%ZH1-7/EC*ID/\`3[BD4,B3IN<[].])
MSZ_TX'\+XSU7^G_Z?];SC>KXA?\`M>>"?_*WD/\`PFP"^DY.=_*_\KS:,B(`
M`#YG$6;C'M<]N?(1`-5E9CR5\KE[B=R.R0;*25F\7ZAY/\5U/<HQ\X4*DZ=Q
M^0G2A]$:(G<$12[45DR\_P#$&'3C\>Z<HO\`&>?._MYM*_2J<?ZL]7^;?)S)
M9I8,FRYO$>V_2J2/(R6@+!$UF6=PWE#-)DJAWS9TPOFOLGEP_$HAU)PTS[I>
M*<*OSZYFZ9X[;>3/+;:^*-_C1V:CX+\+?DG:-4F7472,\\K4N:GGR#)]-2BK
M9HUXPC(:#AV"3F3G)Z7>JMX^,CVJ:CAX\71;HD,<Y"]69N)V3DU?RO\`RO-W
M-Q]H>V:#G]AW.T?'`]0Q>MUA_>)6#C/3]/EO44348YCR6>/)?#&^;$S[D[&0
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MY'^I<9FL-G[3)U:FW*Q4%70BQ+-N\<W'/:U>J[:[GF+O]RLDDV@M1@81:`E%
M.E6_^K)!P3J2G#]+VRXN1GSZW1S/6?0GC/S9YFK5?D=V\V^GL7V6^V+.ZS'-
MX3ROY]I+B2D]%K5TM\0T0BJ*ZV^D/'-7BZD1<LA,)3!W7[/]DU5<)ZF<6W;;
M1-WEMRN_R\':.H6%]._*7I-*TR!C+EE_B#S5AMJI%&M#-M,5=/>O35MUY9[J
MB\"^_-&25BJ^<9$WBH1RL@HK$_R,D=$Q3N^=),_'IW:W]5QF9[[.7N_E[MJ5
M2PK6/#WJ/-:_"T?2.^Q\.\TWJ:JT+%0SG2,8]-33C(YB@WE5BR25L<+!6R>A
MY^+*Z_-_&R,7Q1O^'JJI^V7,N=,)C?B;<?1R'O/#LJJ_J'X\MSB*<P)KFG?)
M-D\+;K^_7?2]B7K=9\<^KXR&J$*\EG;WM4I;?L4F\/#Q7&<:O*J+R"J!WKA=
M=2=-NG#%Y5>%\N<7KUSS/3-;W/#MOTN7;S-6\Z0.G2%7S&>AXE_2^Z1>$:O'
M,M@F%Y4RZ);%GE/AI:/B3?@*9H2?>+%6)W^TR6R8FIMMMP4O\ZR%6WOY)-0]
M3>=(U)3SI#^75<$T37X2%+#47T?OA-@C+=7Y.DS)$&J6KL,,J4=.1CFSM^.8
M[KNS'8-7:YFKDJ-N9TR77;;S)MMW^G@UR&``````````````````````````
M``````````````````````````````````````````!$6^8AGWI3%M.P/58H
MTSGFM4V;I%J8I+';.OXV::';_O8YVG]%6,M%N.INF;@G]Z#I%-0OZEX++@\-
M7P$5V0^2S_3&^A;PG_R^[N'C;2IWKA>062E"99H\?'N%HZKS/+I%QLBIC>Q-
M&+U%!PW=(*IN/NZ3]O(()MEDVD[>EW_Q_N[O[-OKZ-6D?]8)Y7-7"NG'DGT"
ME;OV9#F@T;-G*]<X_P"E)^1L6U'DFTF9F0W3<*O_``_#FYSG>I%^O><?X]M^
MGZL_^/\`9W?6^S'BP:Q[X_U/WK.KY9$1M<QKSGD#AC:)JKQD^20J>-UB95-%
M2FA61U(FB9S5]+ETDEF$85LQ023_`"<2(@Q;G?.SM>[I:QT_TS.O77_06\XX
M!F_E?"\M\\9%$FALZR2H1E0K;58R2CYTDR*960G)AP@BW2>V&R2[AQ(R+CB9
M/W+]TLKTO.G^@EWN&N^ZOEK_`-8+_P#I>\B_]>[9_P#AXZ%_A?&>KK_3_P#3
M_K><;S?$+_VO/!/_`)6\A_X38!?2<G._E?\`E>;1D1```99^$ZO#VNT_+73[
M;#MY>N6KY%]*@;#!2C?IV4S7K%XZ\A,I"/>MS_;^9A+1+TQ#<_HHDI^GZ=^H
MUU:Y[IRA_&>?.I:\#^'T_$="N-:E==LF\W*WSM=26TNX0R4+/M,OS*E0.8X?
MEG&R,S-IN(W,L^KB*!GGY2*2TN\D)-9)-=\J7BW/@;;;=S-3`\KT?2O@8\)$
MS.L/+O<\MKWC#T4SRTG6:/=9AL`W+/=IG,[XE)]1:/'-LK-1<<C4#J))NI+C
M0AE"IG,87=\L7LG*+=W5;W]7WS%O=1^5OP):,?U"`A?1<";2)'-KI&I8P:N7
MM+?XZ>?5!U^&`E,*3JY]<BI]LN_225;*PY545N]+WZ=+WZ.GILZIM]M6;GX]
MU^GUT5:8Q,S'_&%\'6XMH"Q6*G^64?`VZZTWJ4%(VBQ1.5]\;VO'[/;F-<AD
M7<Y-,J0XUQK,22+%NZ=EBF+I1-%0Q/M$Z-?)OKN+U=]]<^C^_P`E/R$^*]T\
MIKYABWHW.M:OEE]%^(TV==S=\]NKF+-">V//5BDN6]S76$BPH7$(R(7YSLXK
M'<5=%*U3^YTHFB>]/3?E+V6<V>W/'IO*M_A@8C?*1Z*P>!]`^3_*WK#7X3&/
M)^F5/9MFWE>SSR]3@=J1RU[G=<SKS[-3B!B+/J3;+#?'<Q9(E(Q?Y=A!),G'
M3,73M)7?3IG=DDMTSF8]?;:KN^;/>'@K?)@N/^6/0N)W^6IE)6G6^>9?*QYN
MUZA5I>(@U',=`1K9LW904,K+,FQ4D$^$2XJ0I2\+_3-EUW?4Q9K+)X5/>![[
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MDM=J)3R:`R)RJ3^F7W5V<*W;0S%VZ>,XQL^>.DDDT4^J),2VZ6&EQOEFW)+/
MR()*K:9\69$DSJFY\F-*5Z5,ACFXDAY(]BK+*=X7G>\(BBF8YN_T*4O>]_3@
MG3KY7E5_C?+G%=_E(]%8/`^@?)_E;UAK\)C'D_3*GLVS;RO9YY>IP.U(Y:]S
MNN9UY]FIQ`Q%GU)MEAOCN8LD2D8O\NP@DF3CIF+IVDK>G3.[*26Z9S,>OMM5
MX?,_NOP=Z#G4<8\I^@\3T&;J5-/,L\ZR^7COK`4:O.8>!ZO'04>W:-6$%#KR
M[)L5-`A4T>*D*4O"\_3-EUN/J8LUEGE8NP(`````````````````````````
M````````````````````````````````````````````#\$I%QDW'O(F:CF$
MO%2"!VK^,E&;=_'OFRG/HHW>,G::K9R@IS_TB'*8O?\`;P--!2/1OC`^.766
MD^VO?AORO*.K.EQ*:L,?A^?5FZN?HDFB59"^U6"A;K'/$T42D*NV?HK%(7G.
M&YSGT%SOSQ67JDQ+9'RU>KO],5Z2P'6&^]?$MO\`,UYPR?F>PU$LNB2N;ZK0
MSK\64<-:9KT1UDQLL$8Y2)$;RIHYT1OWA%W#[OWJ&;M9N=)_;F?'^R9FVV6G
M/PJ9M\X%+V_5WWRE2-^>94MDZ;#-B6S5L)OK/F@=MU?65.E'9-<;'+(//\<;
MNN?N7B14>%Z8O#_>?Z&9S-^,^#/7/ZY9_P"?KZOI'$8``````````!P^DFTH
ME'L)\?2H[C22-43U1OI+B?9T=P]*\;&<-["\J[9]/,VJ\?Q8A%FR"YTEND/U
M)0O#$-9C._0N>&J@4KA?M#U#9,OB?7:7FK*L.S'4J'M4MG7G>^ZEKUEV2\9)
M8(N[Y9!VZY:/EF+Q=1SFOZ-$LIZ0CFT-+.Y=>):-NNF[8[DJMS)-VII=UV^[
M349`!_J<O3%,7AS)],4Q>')PO3$[WG><.7ARG)TQ>_KSZ\[SZ_UYT!%N(X[3
M\`RJE8_0RR)JS28H[%L^FG*+V>G9)\]=3%BM-C>MFK!J]LUML<B[DY)9%NW1
M5?.U3II)$Z5,MMMN;J28W)4$````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````````````````````````````````````````````5QB?8GD:>
MOYLH@O4_G&:U(KWD8;-8G;\RD;^62ZH9+D>:FL[.M8N/>JEZ7\7[;\GW<[SZ
M?47%.&>"QP@X'1]6R['*Z>WZ[I-!RNI)N"-%+1H]QKM'KJ;I1-15-L>;LTC%
MQA7!TD3FX3JOW=*3O><^G.ABW0<[DOH7`=]8NI3"=QQ_:HQAWI7TCDNF4O1V
M+,Q5>H=XZ=TZ;F6[?O%B])W[S<_NY]/ZABXSP+NN+JE21D8^'CW\M+/V<7%1
M;-U(R<G(ND&,?'1[%`[EZ_?O7)TFS1FT;)&4554,4B9"],;O.<[T!X5*O-*T
MJK0UZSFX5:_TFQM3/:]<:58(FU5:>9$75;&=PUA@G;^)E&I7*!T^J(+*$X<A
MB_7Z\[P!^/0=*SG)JR\NNJ7^E9G38XZ:<A;=!M4%3*RQ46X?J1'D]8W\;%-C
MJ\3-]O#JEZ;[>_3^@8MT'.9/O6&;U%NYS#=HR?9X6/422?S&3Z+3]%BV2JY3
M&12=R%0F)AHV46*3O2E.<O3<YWZ?T#%U-+BZI8``%0;1\@_@>CS;VM77V_Y!
MI]CCE5$)"`M'I7&*_-L%DE5$%47L5+71H^:JI+HG(8ITR]*<G>=_7G0N[59+
MU3,F8F?(=YPWT'`2-KP39\HV^K1$PI7I:RY#HM0TJ`BY]%DRDEH.1F:9,34<
MRF$HZ2;.#-E%"K%1<)GZ7[3E[T66;KJE<$`````````%=])]>^3<:G4ZMK_J
M#SOE-F6<(-4JYI.UYK1IU5TYY]6S9.(L]FBY`[AQSG]A.)],?_9SHN*3?HF6
MIW&HWV"8VFBVJN72LR9.J1MCJ<Y&6."D$R]^ACL9>'=/(]V3G?Z]34-P2RS4
M=&``````````````````/PR<I&0D<^F)F18Q$1%M5W\E*2;MNPCHYBU3,LY>
M/GSM1)LT:MT2=,HHH8I"%YWO>\YP!6RM>X/%ETMR>?T[U]Y>ME\5<I,DJ36M
M_P`HG;<H\7Z7B+1.MQ=M=3)W*W3\^U/B/3F^O/IS]1<4TF;HM"(.4HU\HVGU
M*#OV:W.J:'1+.S_D:U=:-8H>VU*PQ_Y54/WT'8X!Y(0\LS_.B<GY6ZRA/O(;
MGU^O.@.K``````````'*4:^4;3ZE!W[-;G5-#HEG9_R-:NM&L4/;:E88_P#*
MJA^^@['`/)"'EF?YT3D_*W64)]Y#<^OUYT!U8````#E*-?*-I]2@[]FMSJFA
MT2SL_P"1K5UHUBA[;4K#'_E50_?0=C@'DA#RS/\`.B<GY6ZRA/O(;GU^O.@.
MK`<I:+Y1J.O5&UUN=4J#F^6MC0Z.WM%BAZ^O<KS)Q\I+1M,JB4L\:*6*UR$5
M!O7*$<SXL\5;LUU")](DITH=6```````"OFL^M?*F"2C>$W3TUY\Q::=I)+M
M8C6=GSC.91RBL0RB*S>/N%DAG:R2J9#&*8I.\-SG>\_3@8X\"2VXF^I'SW4\
MQUR$[9LIT:AZ=6^+?MNV#/;?7[I"<<?C*K^W[*UN0DF'%OQ'*;[/R?=]O>=^
MGTZ+99J.\$`````````````````!1;Y!,9VGT5CE*PO)95Y`534-RRVN>FIZ
M%M/*?:F'E1*3>36SQ]0FDE6\BC/7&-B6T!_X-0CHC.674+]Y4S)GO3CB/(V3
MX_?C_=>9KME-M\XX31<9K^?SBJ\G!9]4ZL_SN,@8-P[/>J_:XQA'SE=LU809
M]?IRZ+Q)Z1='\IUNFZ8W;.KJMQP33_+B\GXD-$U76/C5\9:'M;^6E](LV(UM
MU-3D]]YINQQS95['U.SRKE7_`'\B_LU/9L'ZKQ3IE7IW'5SF,93INRZM68MD
MTS>:J_A''\V]]V'3_D<](TRO[.]M^SZ_G/D&M:1$L+?2L)\Z8[?)[)8IW0:C
M/,G,-"WK5+)3Y&;L$SQ$[UU^9L@DJ1NCPI]6XW3@G=PQ^OVT_=TOR6^3L[R;
M#;W[O\M9W2\7];^0*I+[A5=!S.L1%,?:!0\\0[:-0QO4&];9QZ&@9_?*!&2+
M3K*23==9.SI.6OV*%-Q23JN=^\D_CPSM=O#1<K1,2R#Y`\GP>QZ,YMTQAL_$
M5?9'>/,K(^AJ-KC>SUJ*GJ=![&QB%&JM\I$!U_Q\:!<*<BY%\1`[Q)=%'\!V
M?CF)OU5I^#YDRC/C7QZ.CFC6/CX_6/9;)@P9-TFC)DR:>VO12#5HT:H$30;-
M6R"92)ID*4A"%YSG.<X)U?E?%J\/"<HZ][XP>[S[QUG>O6=)JFFXOE%*RRC^
M)*%;%(FXTJ!DY:$DI_?M:E\\D4W<0AI$E:W;"$CI!ZV.[:1<5TS93[7'.)7.
M)NU3NVVVX16SVSE68>=O;?Q@:YYLI=7S#?M@]4.<"T:*S2"C*KS7O,4ME&@6
M?6?\_KL`BPC[BPS)[7X:3:/7K==:&64*JDJEW[>=LMNNVZDTLVUGOMAN2,#+
M3YJ+U<,]^-#TA,T:QRU2GIQ?%,T6L$"\6CIMA6=B]"Y/DEWY$23<Q'$;).Z5
M=I!!%PGW[T%%>*%_4O!>G6+)GZ7[;UO:/X]\HYO5(&CT?S?B%=JU:C&,/#13
M/,:><C=E'M46;?\`.Z=1#A](O#((%_*Y<JK.7!_JHJH<YC&[?EU=M9LEWW5,
M]5I-,HK%Q&4BHUBG1KIT9^ZCZK`15>8N7QD46YGCAI$-&:"SHR#=,G5#%Z?I
M"%Y]?ISG.2VW4DDT5&^/O+W^58"YB7?M.V^]VD[J.GV2(WJWV2#MKHC12T.H
M*1SJ.GJ[-V&+<L<\LD"_CUD4G)4V,B1TU3;LDD4V3==53]K7HCS_`($S9R.[
M;GCN*Q\A]>L'^M:;2LX9ON<63;]_9NKC-PR#GZ+JE)_88W]YN<_KWG!,7&>!
M-]Q-714K6<KTJG=T3.=+S^_Y^5)VMV]4JY5RU4[B+!N5V^5[9X*2?PG$F34_
M%53?G^B:?>&-].=^HN*(NIOLGR%HMS-G.?>JO-UZT(CE-D>ATW<LQL]S(\5[
MWB30U7A+0^FRN5.\_M3ZA]W?]G`Q3AGA45_)#ZBM/C'Q]HGHVG(4=>9H]QP6
M'5[HZ4BI3&=?TOT+E65V^4F>Q=@JSMO_``]2NSYVW7Z^10;NT4E5BJHD4143
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MT66%@*L9W<)J+K=2:EL$L]:1/7%IL4XR81Q/S?<^>O$$$>'553*;.-^.*.P`
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M62.=-5,_#%[TO>=$%=G_`+4\;Q=ZYE\GZT\S1VE]<]9\SM_O&6-+UUWQ91MU
MKRI.+4G/]<\<)'3^S]O]WWEZ7Z?7G>"XN<8WG#/!7OUK[PK_`),]9^+<GU"]
MXAE6%>AZ=ZLF-#TO9;.RHW\!8,6BL:=9[%URY6&X5NG17^1/M$>IO$'S9ZN[
M_$@5L9`Q5.J)C?EJ=-LS-]S[KA9!OV$>A(23LN![7DFX5R$E?X.9L&0:/3M+
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MDL3AB#73I5G;-9MMYK[7_P`'^*M0HCS,KUY1\^3M&>,%(WD!W)J5&HQS=0GV
M%4@'D1#Q\E6G[;Z<,@ZCUFKILH7ATE"'+PW)\NKC=R3=<S=4M8;DD1@N19]C
M5?LUZN,#F];952$L6EV12WWA_$1G#I1I+!956S-66<,&72-DU#)E-Q!$A>_7
MI?KU;FY&3_Q);]A&`_$'X0GMVVO),4@Y')/VT?,ZWH].SB*?.2VVPD,W9R-Q
MF89FZ7*98G.D(<QN=/S]/UX+U=O#$Y+=_79-<WFV!S[2LYUFLL[KE=_I6F4V
M1.HG'VW/K5!7.LOE$>$ZJ1G/5Q_)13DZ7%"_=PBINE^[GU_J,XLU1T<Q,Q%>
MBW\Y/RL;!PD4U6?2DQ,/FL9%QK)N3IUWC^0>JH-&;5`G.].HH<I"\_7O>!KH
M(/SGUIY5V"Q+4_)/3/GW4K:V570<5?.=FSF[V)!9JC^X=(K0E9LDG)I*MF_?
MO4*9+G2$_N[].?J+BFFJ5Z-?*-I]2@[]FMSJFAT2SL_Y&M76C6*'MM2L,?\`
ME50_?0=C@'DA#RS/\Z)R?E;K*$^\AN?7Z\Z((OU?U7Y>P>290VX^D<$QF7DO
MP]CHK5]ASS.Y)_QSQ0S?K)C;[%#NG7[@J1^D^PIOOX7OT^OTZ+BZ\"2W1+M8
MM-8NT!&6NF6.!MU7FV_[N&LE8EX^?@)=I^0Z7[J,F(IP[CG[?\J9B_>DH<OW
M%[SZ_7G1,8U$*G]>>3D[Z7*C^H/.Y-0.OUJ3-S[7FQ;Z=SQ=)KUN6G]LO+"9
M?CE<B?V<;_=]YRE^GU[S@N+IBY.&>"Q`@Q)^)+?L(P'X@_"$]NVUY)BD'(Y)
M^VCYG6]'IV<13YR6VV$AF[.1N,S#,W2Y3+$YTA#F-SI^?I^O!KJ[>&)R6[^N
MR:YO-L#GVE9SK-99W7*[_2M,ILB=1./MN?6J"N=9?*(\)U4C.>KC^2BG)TN*
M%^[A%3=+]W/K_49Q9JCHYB9B*]%OYR?E8V#A(IJL^E)B8?-8R+C63<G3KO'\
M@]50:,VJ!.=Z=10Y2%Y^O>\#700CG'K+ROL5A<U'(O2_G_4[8S.NF[K&<;+G
M5XL+51JF55RFYA:S8Y220.W2/PQ^&2YTA>\[WZ<Z+BFFJP`@RC^#?_M,>'/^
MCI?^*[*+U:^4Y+U?E?&\V@&L;_@^#,&DKN6V9'C$6_\`R?L)+6-(IN=,'OX?
MMXM^T>6^9AV[G\73<^[[#&^WZ\^HF+KP36XFK,[Y!]$S_4I/XGK?F5ZIVBU)
M[\K^)I,[11+/"6ZNNU4O/WJ`RJ;:;K[Z0C5U$RJEZ;A%>]YPW/K_`%X-267?
MV7E5FE\N<;#N'"#1!=TZ71;-6R*CARY<*$10;H(D,HLNNLH8J:2*29>F,8W>
M%*7G>][]!E$!U#UIY5T&ZKYK0O3/GV[Z*V5XBYH-0V;.;+=6ZW?S?1)>JPUD
M>SJ2O?VRG]ID.=_W9O\`U>_2XO8<,\%@A!`FK^J_+V#R3*&W'TC@F,R\E^'L
M=%:OL.>9W)/^.>*&;]9,;?8H=TZ_<%2/TGV%-]_"]^GU^G1<77@26Z)=K%IK
M%V@(RUTRQP-NJ\VW_=PUDK$O'S\!+M/R'2_=1DQ%.'<<_;_E3,7[TE#E^XO>
M?7Z\Z)C&H]X!B;\0N%8SJ'EB6]+Z7EM`T/=?0OH?UK:-7TV\5"OVRW61U5?5
M&R9S58KLW/1[^19UFKTZFL&4=&)*%9,4DN\13)PW>#=ZK.JR;MY9-V>R<G/>
MTL2S/Q7Z>\%^KO+=2K>)WS:O9N/^.MXIN:Q4=3*?Z#RC<V=DCUS7BHP:+*!G
M;=DJ\!RP14E^VX^1;M')3JG3*GQ.2YSE9OF.'+]]&YKAP@T07=.ET6S5LBHX
M<N7"A$4&Z")#*++KK*&*FDBDF7IC&-WA2EYWO>_091`=0]:>5=!NJ^:T+TSY
M]N^BME>(N:#4-FSFRW5NMW\WT27JL-9'LZDKW]LI_:9#G?\`=F_]7OTN+V'#
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M=8G#&YTY>=A99K+%D@0``$=ZWK.=X3F=WV'6K5&4C-LZKS^TW&TRYU"L8>&C
M4_R+K&(BFLY=.5C]*DW;H$4<.7"A$DB'4.4O6HR;@,M]!_*@C#Z#Z;8V?SCX
M$E'4;8Z#XW345A]D])UQ`_7D)8O7\^R7XI4\]L1?PO4<ZBU/O60,0LRZ.8G[
M?N]W3X[;<^P\-O#W^G:V<CHZ/AX]A$Q+!G%Q46S:QT9&1S5!C'QT>Q0(V9,&
M#)L1)LT9M&R14TDDRE(F0O"EYSG.<&!DS\$ISD^*?RC%.U^K3-8CM7J%GX=0
MRCE&V5/=-.@+,D\ZK]'/[K^:8+&-U8I5C\-PYR\Z;Z"]6JW6]BX?O*7C8#PY
M[+G)A0B45$>5/0LC(G/PG2\9,\DMR[GGVJF(F?IDB=YPO>\X;O?I_M":Q,9W
M35YOQYQ,Q`>`_#D%8>J]GX7Q]YGB9SJYUU%^S$=BU*9R?5E'12.3J]>HG^[J
MA>'[W_TN<[]1+NN+JMLMS-%9/A,_[<>4_P#6+VG_`.^_Z-%ZOROC2\/"<HFS
MV-[->X%,9YAF*9VMO7L/>"RA,:Q=K)?PL)&0<1SB=CV39;5Q%P6AXK1E54_W
MSW[%'DBZ,1BP25<*&,BDSONB/'\L>*+%GFARGJ+U/J)O1_L>UU[M;6O7(L\#
ME^(TY[UNZDLJ\UT!95SRBTIR]0*:0DG"BT[8%$BK/E_[OP%MN[$TVVVAMMMZ
MM"!D8^?/4W=._BO]"-63]6*>N;UY+;M)1!!JY7C72WLKSZFW?HMGJ2[-PJS5
M-Q0I%B'2/TOT,7I>]X+-9XM=.OE>52#_`.QK[Z__`+@][_\`XF^$O_R#%_Q[
M+]?T3-[.G[^[0/+*O<:7GU6JV@Z9,;'<X6._:6#3I^N5&HS-Q>_N%U?Y60K=
M#AX"GQ"_X%")?B8,VZ'T3X;[?NZ;O9<<-$9Q?"9_VX\I_P"L7M/_`-]_T:'5
M^5\:MX>$Y1&W@W',HV[T1\GVV[+G%(UC5:S[_O."U2[Z-5H.YSE/QS.L-P63
MJ6=4]U86,AVJU:/DKI)N56K#C=-VX=&5<<54YPW+;9=W9.19/C.S]:[7WKX/
MAY'S!H==\?\`G_,VTW;MWPO<-VP^FLZUE$7ZYI&576LRM^QBSRS5*(@"*:)2
MX55GSCXZ#!XXZ8CHY..W"W4ZNW;;3]$FZ[;;KO\`U1O&[#\2WHMK7_,F\>>*
MUYCT"<5BHJLX+ZB\^G\P7R.G4#-%8%KDM^3BX6I/;*V>(D+%.Z+:G3OJB13,
MU?IU,QK_`)]N8F)--MN]*?S:LVRGQKZNP72XZ9GUGQ:S60>],]*X;&]M><T5
M$G9G9ECN^+)=[Q3JO3]4^O?N[WZ]&>G\IXM3CX7E6D=9R3*:5)=F:;F.>U*8
MZV59]EJS2ZW`R76BYDS+M>OHJ-:.OVRQDB].3[_M-TO/KS].!>KJNMK.)-(D
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M`^E_4_I'TI!0^MT?S+Z<TGR9Y3QF\1*,_EV9]PPL-7]6V(]'FD%Z[.Z]?=15
MDFZ,V\:N'47#131%@JB517[KG$W;;;<4TW;?MC'GY8_'\Q'@SS/I'@+U=H3'
M*Z7GFJXMYMVO1:#J><5J(I%\B4*7G-AL,]25+'6FD9)2%%T*OQKF$FHAR=5@
M\CWRG#I=-PABSY7CO7HW=4QVQ_#W3=;;GGP+:+;:-8I>IVB/\,9HUCK!`O5H
MV8CDINGT:!DS1\@V,1TQ<.(F371XLD8BJ?%/N(8I^<-S5_.^?JG3OLETS%]6
M'@'Q#&Y23$&WDWSYS+>0)*ZK4E,FI*C-VP*U3:&<O7!H7K]W-K?CXLI)**FD
M#NN?N.K=7_W@S\NKMW''/'MXJ8>J\]H4C\GGQ)421I53D:3$8C\BL=%U"1KT
M2_K,>PA*;Y8;0S-G!NVBT8W;Q3=`A&Y"I<*B4G.$^G.<%EN^\<>L7'^&.&9R
MK2JQIT+SUE6EW:HT2LUR'IM/MF@RD)4(*(K2$PI5:X]EE>*I1+)J@H\<-8SB
M/%3E,;G/IS^G/H&_JLEK.Z3<^>CPEZ+\ZN\HJWIKT+XQ]N^B/6/I"JPFHZON
M[CXX_0VO0R[6ZM.6:M9_B]Q_Y7RT!'X71J[+-HV`0KZA8E\S;D>_>Y.OUP?6
M>RX^OLU>BYLLS)>V>Z8,LTNO0/R'X';?&GC_`-F8CF7H'M]SWVE6+EXJWWS_
M`(0O_&TAY8\=WI<MDS^!SRO:17K5`=K[^3+ULYEXN:*DX,J9N@8LMEF+<WSV
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M#D_<%,BGSA=9EUVV\_`VVX?3'BO!XO\`4T)[%P"L[/&U29SV?4E[71-,S*Q*
MI.IW,-:SBQ2-,TF@R3]LFDUE>UVTQ#A-!XD4A'C3J2_V)=4ZD268&.?P%^%L
M4/\`'YYS]$;'3JSM^S:/1'A8.TZ?`QEUYEF6QEJGHRFY?E[&Q-Y&/I%=08,"
MR$ER.1;*R<N\77='6[Q/I;;U3'@O7B]5[,K-/\RI?DSY<?,[3`JQ7\QI/N+S
M]ZD0W?.Z9&-ZY2+'>?-RN/6>A:F6JQ)&L$SOW&&BOXMT_0025>LU>_N>JJ%(
M<K.9<Z_LF-WG/7;]W[9RBU[W[\A_H/)]W:-[OYC\`0>$,(7`)ML9YG&F^C]L
MI+K6)#1]9KCDG\1HD?F><2$&SKT5))O(IL^DWKLR'[DB9BLXZ=W';VVPN^>/
MIMG/[K:>AOCV\I>ALOE<]F,9SNH2Z$>Z4SC2:%3J_3-&Q^XI-E/\<OF9W*MQ
M\9/U*QUJ3_$Y049KI%4ZG^-4ITC'(9\KQMK.,:*_?!O_`-ICPY_T=+_Q791.
MK7RG)KJ_*^-YHH^(7",6U'R2?T1IV49UI&Z;GO'K>8U?6;]2ZY;[[=%ZSZLV
M;/:VQE;+/QK^4_@:[3:=',&$:FH1@R0;\XBB3[C?75ZK.JXO%+)NETQ.3E/D
M@=YMY-HOE7Q]AV7W7+,;]=>DKU_SNJ?C7*K)*Z;/YA6:-:=@UZJ9Y1\>@WMQ
M0D]4=Q;.+E7L.W(O&UD[[I#MFZ7Y4'3?Y4DMSCL]IQVW/\%V+XYR9=W%"?%#
MZV)E?80]>[22_$7OQ8;L8HUZT/SI.8[QQ_('3-T_7OY/WO5^_F_+^7^\,W_;
M=Y^Q\;G.-_C,\UA/B2N>IRN.;%FM\I7HRMY_B>^6VD>9K#ZAS?3LWU:V^:Y"
M(@+7F[2?:ZS"0MLL3O.#SCVK<DUN+&=-8=`RBAE?O,:=6+<PQCZ;:?7S4D^`
MOPMBA_C\\Y^B-CIU9V_9M'HCPL':=/@8RZ\RS+8RU3T93<OR]C8F\C'TBNH,
M&!9"2Y'(ME9.7>+KNCK=XGTJWJF/!>O%ZKV96:?YE2_)GRX^9VF!5BOYC2?<
M7G[U(AN^=TR,;URD6.\^;E<>L]"U,M5B2-8)G?N,-%?Q;I^@@DJ]9J]_<]54
M*0Y6<RYU_9,;O.>NW[O0DZ5">]OD1]%9=NC)&X^9_`,1@477L'FBE?9UIGHS
M8Z2IL4AIVIU=R0T==VV94&4@F-=CWY'$:@]?OW)DC+E3,FSCIW<=O8Y^FV<_
MNN%N'Q_>0M\H:M%MV%Y[!J,D^N*3>,_JT)0=*RRR-R&[#7/+[Y56,78Z3:(!
MYPCAJX9+IEZ=/A%2*I&.F9\NKC4DQHC7XO=IU+8/,+N%W*<+;MH\Z[;NGD_4
M+V1%)K_S"M'G;29S.RWU=LAT[="3M<'&,W;_`(F<Z1I!1<Y.\(8I2NK&<S2K
MI<;;YE`GP_71EF_PK>6-$D6RKR/H7FJS71^S0/\`C7=,JL_N<XZ;(G_&K]BJ
MZ#$Q2]^TWT[W^G?Z!9GJD[IRB]6Z]5[[S>I\;/F7/-2P+-O<?HRDTW9_57L.
M@5/=[KI6@U^'N;VGU'2XQ&[9UCF7\GV3\F>YEG=,G&#%"+C>-TW+M%5VZ_,Y
M4Z?B]5_CN2S%O3=)=KMX:85G^0#QICN.>O\`XO-]Q:LQ>2?YO\BF94S5Z#GK
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M-`[ECGH>PZ"DN3U_O))Q.V6V@[K6*XX2=6HKU1H=G"I=0CSH)J%66(HJIOJ^
M/RN;<YO#]6K9NW<)Q[IW)>^.N+TKVEM-LVWW_HC"?];>%=0M^9<\>52ELJ/B
M7F&]6!BY2@=FK;5S8KA:=AD=.S-QQQ6+9*R'6;5FZ>),&Q7")G07=,3;;;BE
MDSNTV]=KN>W\G^V5^;]9>9?'&J47T!IGFV;R;3_26]Y7YTR+3-GLVSHTVUTV
M@9GGU^K&30<W:4\68VBRN):?(MQ&+DGC:,9.SF(MQNX=.),\=O=)+=\X8[NW
MV>=I^L?'MK69/,ELOQB^WXNJ'CTV<`M2OBJ]&T:QT%XS_&I"V+-K-5\BC)F@
MVBMO$$G$<_C%6Z[1=(AB=^G.\ZS?]N?L?&S?),^/3[KV_&!H^\:;XLRB5]*U
MK3:]L-<<73/;`]V"A6G,]#O,/G]TGJK2-.LU-N<1!V&*E]%HT9&RSS\S8G%'
MCI8Y?[>\YS/5C.[0NZXVVFBK/QB8%D'I;#*O\AF_YS3]D]*>MTY[2Y"\:A6H
M6ZOLUS>4M<]S,L4RY&P-Y5K0:!0J6DR;=:QO$32+_B[QX===7[BZMLN[L+_K
M=)?O-V=O!Y/R"XAFWB<^;_(KYFID!C&B9GMF#4+>(?,XF*IU5]!8)M&NTW%[
M13])J<,T9P-EGZ\[OS63@)=9N>1BG;7_`':GXS=*5+G=>.VW[F.$TDOVF=OV
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M>)K!HR5'IL#6&MRF6_LKS;")2$\RB&+1F^7_`(U'[#?<G]IS**J&YU194YTM
MO5,]IT\?"\JU\K.2932I+LS3<QSVI3'6RK/LM6:76X&2ZT7,F9=KU]%1K1U^
MV6,D7IR??]INEY]>?IP2]75=;6<2:1(0B@``QW^:!E;9+&_)K*,QC9-\S)+Y
M`/.%E]%YOA^56O9+;+8;GC6_:7+GD*34(^2?/:O_`)U3:^D\ZNGQLIU9-#IR
MJKI=%EQ5DSGMQ^G)UG_Q:*5_^Q3Y7/\`_.WT!_\`888G;/O['QO=]9[M#,8U
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M8ND5TNF25(<UZOROBMX>$Y*2EWJ9\R_*G\A^K:SY`]S:NPM52\FY3YYU'!_(
M>M[/3/\`E35LC2O.C5Z$N58A'$24JNR7EYV13;KG3.\8D3/PJS53ZW68SA<;
MIC'UFW"+PYW\FE3T>^4Z@-/&OR4U)U<[+#5E"T:)X6VND4.NJS+]!@2:N-PG
M(A"(K-:C>K_F>/G)RHMD"&.;]."8G;/O[)99^\]VE(B,M_F>SZ^ZE\=&STC,
MJ1;]%NDI?O++R,J%$K4S;K1(LZ]ZWPJR3[IA`5]E(2SQM!UV(=OWATTC%;,F
MJRZG2I)G,6S6>*SCX7DU($0`9G_$%0[SFG@?-*=H],M>?VYAJWKB1?56[5V8
MJEC91]E]A[W9ZZ^=P<ZS82;=G/UN8:2#)4Z7".F+I%=+IDE2'->K\KXK>'A.
M1\<M#O-'MWR6.;K3+74&U\^3#8KY1W%HKLQ7T+E1I/#_`#A$QMSJBLLS:)V*
MJ2$K!O6R$BSZLS5<,UTR*=.DIPKJU\IR+I/#UJTGIK3MMR&D0MWQ3`7OI!6-
MMC#FC9[6[G!U/1B9N>.E>S,]E[&T\8U:ZW2*DR,S)PKZ5ARO6IE^(N>N.)(J
M))=49M>G/5T%ZZP?5/.D1\;ON74KEHE5EZC7JAM'E>8R/.8:Z3D:]BJ[:IO8
MM5<1&=UME395R5\:;B9!^[8\0_*SXJM^+AM28N<Q-_@FKU)Y'W#6/BN:^5VE
MFCM$]&U#(O-B_P#D4[*]BXW5-B\VV?*=-<EDIQZW^D:CJ%PR\[<[M<B94/Y'
M\BADBE,<LEGRSWKGZ._Q_P!_J:O<:AG;WQ9[VS.WSKAHPM;G1_.$O6LVSIXH
MT47?+S6POY=#.;)"L5DC)\=5]_+'7Z8GV)?4WV\?'OAMMQ^K0@9%$_=?DVU>
MCZUEM^Q:Y1F9>J_,6A)Z]YNT2=:O'U70L2D:XK]SSC06$>8DB]S'7Z4^<P<V
M5KW]T@DLFY2XJ9O^!:RXUT$'1OR6Z)08GL5ZA^/'W1G.CPZ2R5@YB&)3'K#(
MY9=DF7KB8I&FXDK83JUU[SG54/YR.A'J2?\`:LB4Y3"_&=LV\#PW_;GZ95QR
MO9S_`#;6N.-%P+G*O"7F[:(&P:5FM]G:R3T5Z"VC+)WL_1*7JF2UV8L2^)8G
M4KI"-9U9A8EDYRUN&#7G&;9D5112_C._;;]-5S+Y<]L=G?G32CWWYVL_JOR/
MK^(T6:AZ]H,ZUI]MS67L7'O^.---R70:GKV;\L9HWZOTZ\YO-$CTGYT2*J$:
M**&XFKWGXS9EQ<FWNKG#?);:ZW%QD)O7Q]?('0=9;HIL;/7,Q\W6;T9G1I]`
MI$7RM-V#&%[93)FK.79OJS>2"L4N9'O#+((_:?[;\9VPW\-OJ_'\?,)J-C]*
M?(WZ8NF'ZOAE$]+ZAYWFLF@MIBZW6M`EX7+/-U+R:RRDM4(*TVEW6T%;/5UC
MM4WQT'"K15(YDR'ZHFFNZ8[_`&+9<8[/6N7ZTWCX\=_]"6VJ8'IOIOQQZDTU
MYOSUI@[&&M>X^>MYLT#%1.GMG67R,C`RFC95I;VN-9ALYA7"\A#2:KM)5DJ1
M=-<S=U3O-MMM$7^T?:&F^F/''J?%_.?QY>_KK:=9\Y;QFY)'1\+[YX@ZX2WY
M9:*\K*];;7.U*Z7&4:_RO#L8B`AI)[++D_;(?14Z?W/C,:S;QPO3<=4SNW[:
M9=K[WRW3;C\&VC9+4<ZO=JU5]X\RNL,LRKE1L$YH+RR1T304Y"O-:9&1[JQN
M)QBHS6*LT(VZX2,D?AB<Z4WTML^=\_5.G6>,;/#`R_\`==*U"H^B/$WMG/<J
MNFZ07E]?T)0]6RW,$HZ1U1;._2-3I$.M?:#6)-Y%I761H=GSB-,[B4'9'SB.
M>N#MTEE$OH773C?.-,[L;;;T^XAZ7KGK5&\5$_G#U5F]0Y65F<O*^DL'L^%P
MMK:3O[F'DJU"1=X<Q5VD'O[(ZAES<C$FO$#<Z5QTQB\ZQC?+$O95&//&B[A\
M:N>1/D?:O-7HK=<9QU-U6_.?I3S#FS_=>6?&F[Q=>DT_6<MISU[J=)TK/H1P
MC#KKMXA_#2J#--RBY*<RB?+9+OEQMMMN7?;WW;PV\[=7$_5VC[SI"<-7_'OH
M3,L;9P[YW.;1Z)BXC%7B\WPGUAH&E8U,NY/5;#QZ;GU=O)-C`-F1/Z=74[Q/
MLLDFN]$2>MZ'>;)[X^)NXUVF6N?J.<:MZVD="M4+79B5KE#C[)X\TVL5U]<Y
MQBS7C*NSG[(_0CV2KY5`CI\NF@ETRIRD[/X^<]6IQ\/6-,!$`%%/4FP^P<,T
MC/+SE/GEOZ:\R&KDS$[-1LPD(V-]05.V+R\:M`7ZB15SLL#2=+J#6'37:.H!
M%>.F"N%OW)%UTB_B2U)+XB)'WR76*9:.(K*?CO\`D5N^C*ID1B*K=/.[K"ZE
MV5<&1*W0L.NZO-P6>PT2G^?AW+UHYE.(IE/]J2BA>IA\9VPVVQE,?Q[^<M`\
MV8`_B-BDZ]*;?L&P[/Z4VXU..LI3(S4=\T*:T.RURHK.FS1VZ@*OR61CD5U4
MRF<]:F6X4A5"IEELNFAK<[:81E\.%#O.8?&+XXH.E4RUYY>ZQE/(ZRTJ\UV8
MJ5MKTA_DM@7_`&,Y7)]G'S$2\_`L0_XG"*9_L.7OT^G>!U:^4Y+U?E?&\ST9
M0[S.?)U\9U^A:9:Y>B4/*?D#CKS=8NNS$A4J9(7.M><4*>QMEC:,U8>NO+8O
M!O21B3Q9$[\[-?B'#]24^U-+X>L/X^<Y5RFS4O>_)GKR]>S,-R&R^C\:]%4;
M.J?ZJQ?/7M?2VBJW'("2D-G&XY)"V9_!Q&@M3TN=4A+!72R#.14(T9.VIG'X
MCH$LQ9BZH]PWR3V*T-E(W'?CS^1&^WI19%DSKUZ\^&\Y5=!\MTQ>FG=-WVPT
M2G-(EL8G>*NX]65+S^WJ9%"&^X/C.V&_CM],O6^'K.[[DOQG>0,VU"G63/\`
M0*=F"D-:J;;X=]`62`E$+38CG9RD1)(MWC17J2A5"?<3G%$CE.7O2&+WLZM?
M*<EMS;>&;S?P^(*AWG-/`^:4[1Z9:\_MS#5O7$B^JMVKLQ5+&RC[+[#WNSUU
M\[@YUFPDV[.?K<PTD&2ITN$=,72*Z73)*D.9U?E?$O#PG)WGO;SAHVU5;'=2
MP1:M)>E/)VP1.]8JQN+MW&U2].F<#.U&]Y#9YAGQ5:`A=4H5E?1O\B5%7K![
MULN;GXR*"]-QNNB([CODI?MF:47>?`7R,572TFW22="A?,DOI$(670^U-TQA
M-HHTS*8A+1YE^]_;/EI]BDNE]#F*E]>E*^/?#?Y;>?V72P:_:=IN>L[EK&)2
MOGRQRLC(G89K8KI5[Q:H^M%.3^#D+8]IAG=8A;%)MS=4<Q;1])D8=^A#.U#_
M`'%)+)-!37X<*'><P^,7QQ0=*IEKSR]UC*>1UEI5YKLQ4K;7I#_);`O^QG*Y
M/LX^8B7GX%B'_$X13/\`8<O?I].\#JU\IR7J_*^-YGHRAWF<^3KXSK]"TRUR
M]$H>4_(''7FZQ==F)"I4R0N=:\XH4]C;+&T9JP]=>6Q>#>DC$GBR)WYV:_$.
M'ZDI]J:7P]8?Q\YRKP]BS;;_`"]ZYN'M?`LQG=]S;?:)GM!]9X/2GT`SU9O-
MY,>5C\RWC(&UKF*_7K9*P]1L+J%GZ\J_9.I!BW9+M%%%FWX3V8LQ==MMM\VV
M]/UW?TLWR"ZU?8Q[3?+'A'V!9-GEDE(R#?>BL6L7F7#*+).6Q_LM&D:5IYH?
M^:K%>/W\SAI4FU@DY'\76[4GWJD4X^,[8>.[;;7"Q_AWR_\`^R'YRJ612=E+
M>;ZXE[?H^P:"1LLR3OVS:E:)2]Z;:VS%=591A&/[3.+IL4.]^Y%@B@0_U.4Q
MNSJN:*W_`!)Y'8ZY\4OE7&-IH-HID\7$)*G7_.[[7IFHVF+1F9BSM9*%L%=G
M&D=-P[ES&/\`]4UT4E/QJ<-]/IWG1;=\L[)R7JWV]F;S1#YITS;?CDS2$\?[
MSYO]';3FV)-S4WSOZ4\U9;*;I%:#BL>X<DS^#TS/Z(O):+FVG4BO?@AWQ#1;
MJ&?$9D=(/>?EZERXEWRR);;>^[;;6QIZDV?=/5NX?&Y&T?P=Z_IN1YW[\S#6
M[AM6I4:NUEG#,H'*-JKBB4IF,3:K+J]5K7VW8JB]AL,3"1+5P@5J8YEG+?[T
MDEUX7E5GXW;C/+[KH>TL.V5KL/G_`-P>8ZE&:1L_G2+T&@73%G\ZRJ;G>?/V
MK_X^XN-+K%LF7+>O0&B5&Q5:/G:\:1,A'.W*"S5RND1<IRR68Q=-MMLIMM];
M^N,/,_\`B5J.V2K&$\#_`"126A\;D*C0'_E>8J[3LHJ4Q$V+C7+-8(O"DVB;
MKG"K/$K,N@1/OY"_>7].OCWS;[)RV\_LOSF,]>;10*M8=+H"&67N7BTWMESQ
M"W1U\+47ZJBG>0RENB&$;$SCINWX3\ZK5+K;BW3$245(4JIY<9W:*H7\05#O
M.:>!\TIVCTRUY_;F&K>N)%]5;M79BJ6-E'V7V'O=GKKYW!SK-A)MV<_6YAI(
M,E3I<(Z8ND5TNF25(<SJ_*^*WAX3DTP$0`9G_$%0[SFG@?-*=H],M>?VYAJW
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MA4:`_P#*\Q5VG914IB)L7&N6:P1>%)M$W7.%6>)69=`B??R%^\OZ=?'OFWV3
MEMY_9?G,9Z\VB@5:PZ70$,LO<O%IO;+GB%NCKX6HOU5%.\AE+=$,(V)G'3=O
MPGYU6J76W%NF(DHJ0I53RXSNT5\_OQ)>Z)W)_C:\BU?1/%'ME6"@LABV-5TG
M(,<1]"TR_P`"U<O^,[!&1^-6&V:+757RA5"]93$`Q4)PI3%.H4_.\U9G?;)N
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MU^F)]B7U-]O+\>^&VW'ZM"!D````````````````````````````````47W[
MX^L6W+2&NY0EGUSSAZ%;Q):\ZWSS'>$LQT>R5M,O2MJ[?DW4+9:/IL,P[WG6
MJ-DA9;C/I2_@ZG]O!9U6;CEMMN6LS"D.\WH%5HK^^WS47E9BDXUSH.GR$)*W
M^V+$444/+VJ0K=?JL"YE5NJ?0W6D<S0X4O.%2+S@6YWCO!``````````````
M````````````````````````````````````````````4.^,#&-*\[_'[Y/Q
M'8JW_A^H9ID4'5[M6/YB`L'\+.LUWAW+'^:JTK-UZ2_&54O?RM':Z/?K^A^_
MJ+;F^4Y+=;>^\U\1$```````````````````````````````````````````
M````````````````````````````````````````````````````````````
+```````````!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>cover2.jpg
<TEXT>
begin 644 cover2.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@!<P&%`P$1``(1`0,1`?_$`,\``0``!@,!`0``````
M```````"`P0%!@<!"`D*"P$!`0$!`0````````````````$"`P00``$#`P$$
M`P4,$`X.!P4)``$``@,1!`4&(3$2!T%1"&%Q$Q05D:&QT2)2DE/3518)@<$R
M0G+2,Y.S)%1TE"4UE6*RPB-#<S2TU$5U-E87X8*BHT1DA,2%U2:6&`KP\8.D
M1G8GXF/#96:EM3='5R@X6!D1`0`"`@$#!`,``@(#```````!$0(2,2%!48$R
M`Q-A<2+PL:'1D?%2_]H`#`,!``(1`Q$`/P#[^$!`0$!`0$!`0$!`0$!`0$!`
M0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!!J?FKS)GY=VN$EML9
M!D9LQ>7-O]L7$D$=O':P-F<[ACB>Z1TAD`&UH;0G;N6L<=DF::>/:0S1(+=-
M8L,\&`X&\NRXS!S^)X<&M#8BWA`;0D$$\1J`+K#.TH1VC\]MXM.8@[-E+B\%
M#W:N=4>8K&$&R=%VBL[*0/@]B1MI^Z+SZ9)PB#:5S;S]S!%7:>QIW;KJZ&WI
M^==5-(\FTHCS^RP'\W,?7NWER!YG@NONIH;)#^T#F@#PZ<QI/=N[JGR:-4T-
MI4S^T-G@X\.G,4!LIQ7%X33IJ13I5U@VE*=VB<^W_P`-XHG[XO!L\U73'R;2
ME'M&Z@&_36*_"+T>?4J:1V-I<CM&:A/_`(;Q._[HO?1X@FD=S:0]HS/C?IO%
M?A%YZ:OUQV-I2W=I'/#=IK%'_*;S=WZJ:0;2D2=I?/,_\,8H[O\`";STRK'Q
MQ/<VE3.[3V?:/YK8D_Y7>J:0;2ICVI=0UH-*8C96OVY>[0!T"@VU[JOUQY-E
M-)VK-1,)II/#FG^.7I[^[HJGUQY-I4$G:VU.RE-'88[#4F\OP-FS90&FWY*?
M7!M*CF[7^J8FEWP,PAIM_=F0W#SPGUQY-I+?M?:KG-/@9@QLK3QS(5Z:]>ZB
M?7!M*&X[8&JH>,C1F"<&4K6^R&W8=M=FRM.@I]<&TK4_MH:N::?`C3Y'7X_D
M=]1U=]7ZX\IO*<WMF:L<!_L5@`2!6M]D2.[0`UW)]<&\KA#VP-52FAT9@F[_
M`/#K^M?G:#N=*GUPNTKK'VL-22--=(X4'90^.7Y&WN4]52AZ0GUP;2N+.U)J
M%X!^">(%16GCEZ>X/G1O32/)L@?VI=0CYG3.%`W4=<7[JDF@((>W9MZBGUFR
MEF[5NHV!W@]+X2OSO%/D'TVG:X-D;Q`4ZPGUQY-I4C^UQJ%CC_LEA'-I0#QV
M_#N*M:D\+A3A[F]/KCR;2L-UVQM71;8],Z88"*#PIRTA!+G<+CP7D9HT$5%`
M30FHK0/K@VEMWD+S]U'S2U;J'3&H<1@K,8_3=AJ'&W>$%]$2U^3GQU]:WT5]
M>WO$XE\#XG,+*4D#@?4D3/",8N%QRN:=KES:$!`0$!`0$!`0$!`0$!`0$!!U
M3[43N&RT4:T_&65&S[TM_EKI\?=G)@?)_EYA>8#<]Y6NLG:^2ABS!Y.FM8N/
MQXY#POAO&K.[XN'Q1O#3AI4UKL5RG5(BVZ_^'71GOKJ?\+Q7^IUG>?PNL)L7
M9[T=$:C*:D)[MUBZ?_="3G,FL*]O(O2C!09'/_)N,;_JM3:36$?]1VE.F_SI
M[]QCO._%E$VDUAP>1FDCOO<[^$8ZOFC&!-Y-80GD3I`[[[/_`(3CO]5IM)K"
M4>0ND#OO\_\`A&-_U6F\FL(3R#T@?XPU!^$8SY>**N\_@UAQ_4%I'WQS_P!?
MQG^JDWGQ!K"!W(#23A3RGGQW1+C*^?BR%-I-823V>M(FOXVU%MZIL3_JA7>3
M6$EW9TT>[?E]2?7L3_JFB;R:PD.[-FC7UKF=2[>J;#_+PY5^R36$O_AHT74'
MRUJ?9_[_``]/D_B93<UA+/9DT4=^9U-]>PWF?D9-Y-4I_9>T.[^.=3M[TN%^
M7A3M3[)-5._LK:$>"'9O56T4^KX3SOQ'W5?LDU3(>RQH*$U&8U2_93U5SA?U
M.$"GV2:PAD[*O+^7CXLOJKU8(-+K"B@/1MP9*?9E^#6%*>R5RY)).6U;4C[K
MPE`=E#^0:[*=:OV9?@UA-9V3N7+-V5U;W?MS";32GO`I]F7X-83V=E;EZRI;
ME=5U/7=X7Y6""?9E^#6%2WLPZ#8`&Y74^SKN<.?-_$NU-\C6$[_AIT3MIE]3
M#O7&(V;]WXF[J;SX@UA+=V9=%/%/+6IQTU\/AR?/PQ3>3512=EK1,@(.?U6-
MA%1+@Z[>Z<&=J?9)JH9.R7H644=J/5XVU/#+@`?-.!*OV2:NO_:`Y#:5Y9:7
MQ6=PF3S]]=7V=BQ<T65EQLMNR"3'Y"[=)$RRQ=E*)O"6C14O+>$G96A&L,YF
M:9F*4_8P(=S5U>X='+NT;NI_XE;L^00GR>V/V8\O3!<700$!`0$!`0$!`0$!
M`0$!`0$'5'M2`FQT72NS(Y0[!_BMOZ-%TP[LY)O9E86QZN)Z6:?Z>KRSZ:?(
MF+M2N;8@("`@("`@("`@("`@("`@("`@("`@("`@(.HO;*-.76`_\W0;C3^)
M,T=_R%T^/W>C.7#0O8K->9^JR=[^7T1)))-&ZEMP*5.P#B\];^7CU9PY>FBX
M.@@("`@("`@("`@("`@("`@(.K':=;Q6>CMVS(9+?][VZZ?'RQDJ>S?'P0ZJ
M=M]6W!T/T)R_IJ9]EQ=GEAH0$!`0$!`0$!`0$!`0$!`0$!!U1[9G:VY=]C'D
M?J+F]KR=MU>L;+AM!Z1@E#<GKC7%W9W,V&T]9-KQ0VKG6[IKZZH6V=E%++1[
MFLC?K''::29IJCL.?&.<ANV_IJVATIE8M)<W<;B+>]UERASURR//XR9L;&Y&
M_P!-7,C+>'6.EX;JH;>VK?"PL='XW!;/D:PLL9Q_21E?[>@JRT("`@("#J'V
MRZ_U=Z?`I4ZN@VGH_$F:J=QZ"NGQ^[T9SX]6A>Q:0WFIJF,CA>[ETR0`!U.`
M:GM`:FG"'5<._79N*W\OM]6</=Z/39<'00$!`0$!`0$!`0$!`0$!`0$'5_M+
M-+K32'<OLG^][?KV+>'=G)<.SQ'P66HNLC#5[],FF9B[(+#0@("`@("`@("`
M@("`@("`@(,;UCK#3'+_`$IJ+7&M<YCM,Z1TEALAJ#4>H,M.VVQV'PV+MI+N
M_O[N9U>&*WMXG.H`7..QH+B`;$7-0/@7^,<[<>JNV[SYR^IQ?9"UY0Z,O<I@
M>3.DYQ);0XW31N(HIM37]@X\,>J=9FQBN[USJR0L$-J'.CMF$]XB,8IRF;ZN
MCND=7ZIT#J7":RT3J',:4U9IO(V^6P&HM/Y"YQ68Q&2MG<4-Y87]G)%<6\S=
MK20:.82T@M)"H^KKXO'X\+3O,5V*Y2=LK(X;16MY'XW%:7YQVUD<9H_5]S+Q
M6SH=>V]N#C]$YN27P3O'XVPX:<R/\(VQ$;?#<\OC_P#EJ,O+Z,FN:]K7M(<U
M[0YKFD$.:X5!!%0005R;1("`@(.HW;&J>7VG@`375L.ZE0!A<Q4[=BZ?'[O1
MG+AUX['3GMYVYF*OJ'\ILE(6G828]8:::PD-HTT$KMXKM6_D]GJSC[O1Z@+@
MZ"`@("`@("`@("`@("`@("`@ZT]HY@=9Z3KT7N3Z^FWMNI;PZ,Y*[D``+/4`
M'0<37_[2HF9B[$+#0@("`@("`@("`@("`@("`@(/DG^.\^,7;S#S^4[&W)S,
MR_`O1F;X.=VHL?<`6^K]7XB>*2WT#:/BVRX+1F3B+\B2XMNLO$V,-:VRXI^V
M&-=9Y<\IOH^<?>MHX0<@TVH/9SXO+XX+FOV4+O%<M^<5QGN;W9^K!908^ZOO
M'M<<M;</CC;<Z)R63F_&>#M(`0<'=3Q6S0UIM9K4^$;-G+&,OVL3,/L:Y)\]
M.5':*T!B^9W)K6N(USHS*O?!'D\6^5DUCD((XI+K#YK&W<5OD\'FK-D[#-:7
M<4-Q&U[7%O"]I/&8F.DMQ-\-M**("#J3VP6AV@].`NX?]JXSN)W8?*^FNGQ\
MLY\.OG8^X6\ZLTTM=QNY4Y!S7B8-8&-U?IX.:;<M+I'.+Q1X<`RA!!X@1OY/
M9ZLX>[T>G*X.@@("`@("`@("`@("`@("`@(.M_:(%;32E?N[)=!^YH#\I;P[
MLY*KD%^YM1]8.(^37RIZ29&+L,L-"`@("`@("`@("`@("`@("#QH^-_^,,L^
MR;RGN>4'+O)W#.T'S?TY>PX.\QTS8I>6^C+N67%Y+75S.UXGMLU>>#GM<(U@
M#Q=QR7/$!:\$O3#&YN>&<IKIW?$3+))-))+*]\LDKWR222.<^221[BY[WO<2
MY[WN-22225U82T!`0<H.T793[8//#L=\Q+#7W*#55Y96QO+635>A[^[O)M#Z
M\QD+N&7%ZIP4<\=O=%UN][(+QG!>V3GE]O+&XFJ8B8J3A]J?8.^,LY']N3`>
M(8:6+E]SEQ5KX?4W*'/Y>UN<J8F,<^;-:+R)CL3K/3488?"S16\-U9F@NK>%
MKX7R\<L)Q_3<97^WHVL-"#J1VP'\.A]-[*\6J`*4)V^2<B.C=0$KI\?+.7#0
MO9$>[^NK+MX"UC^5&0>2#(QH,>L-/M:#&3X-YI(:..T4--A*W\GL]6<>?1Z8
MK@Z"`@("`@("`@("`@("`@("`@ZZ=H05L]+??N1_>\"UCRSDF<@OW/J3?OQ%
M.]^-%<S%V'6&A`0$!`0$!`0$!`0$!`0$'6OM<=IO1'9$Y#ZVYW:XDBN(=/61
MM=,Z=\;CM+[6>L\@R2/3FE,8YXD?X;(W;"^>1D<IM;**>Y<QS(7K6..TTDS4
M/SW^>_._F!VC>;6MN<W,[*G*ZPUSF)LI?&/PS,?B[04@Q6G\);337$EE@=/X
MV**TLX3(]S((6\3GO+GN[\=(X<VHD!`0$!`07K3VHL_I'.8O4VE<YF-,ZCP=
MY#D<+J#3^2O,/F\1D+=W';WV,RF/FM[ZPO('[6212,>T[B@^J?XN#X[G$ZO^
M#'(WMCY+'Z<U)'9MQ>G^T!D+ZWL-/:DN(2UEC8\RH7PV]GIO,30^I\LMD%A<
MR"MRRV>3++SRP[XM1EY?21:W5K?6MM>V5S!>6=Y!#=6EW:S1W%M=6UQ&V:"X
MMYX7/BG@GB>',>TEKFD$$@KDVZG]L(TT/IK=7X4;"30#\4Y`U)J.I=/CY9RX
M:'[(W$>=65/&T-;RFR0,=7.+B[6.GB)*\/"T-X2"*[:[*[:;^3V^K./N]'I@
MN#H("`@("`@("`@("`@("`@("#K=VBC2QTMW;[(^=;0K>'=G).[/Q!@U-0=.
M'/F^5*)GV,78M8:$!`0$!`0$!`0$!`0$!!9]0Z@PFD\#F=4:EREC@].Z=Q5_
MG,[FLG<1VF-Q&'Q5K+?9+)7]U,YD5M9V5G`^21[B&M8TDIST'P4?&8]O3-]N
M7G:<MC([W"<F^7PR&`Y5Z9GGE,EQ9R71\HZWS5N6QQ1:BU9X")[HPW[3LXH+
M;B>^.6:7T8QK%.4S<V\W500$!`0$!`0<H/7GXOWXW7G%V-HL9RWUG9W7-[L_
MPS.;#I"\OF6VJM"QW,C#<7&@,]=,E:RPC]5(<-=DV$DA/@'V3Y)9GYRQC+]K
M$T^GCF7V@^4':3Y%:'YD\F=;X76VF<CJ*+P[L=<QG)X&_EP=],_"ZGPSW#(Z
M>SMJQ_ZY:W<<<@%'`.8YKG9PB<<JE<IN.BC[(@:><F<<#PTY6W(X'"6KN+5N
M'/&W8(6AO#MKZHU%-@*U\GL]4QY]'I6N#H@D>(V%[MPIT@;R`-IV#:4%EN\[
M;V;29*?VOA7>>Z**.O\`;JTEL;GUM0D6\$;Z'9X0#=U?K=R[;_THE):RS<P;
MP[(V8^,@D?522>^'N-*?(5KR;)?]8>3W-AQ#CT5?-4]T\-PE?M-I36<P\B*>
M$L<;(*[?!7$S"13<`XR<)KTU/>35=E?%S%;4>,8B8,^>DM[J.4[]I$;XXNC]
M$FILV/#-'<0Q3PN#XIXV31/&Y\<C0]CAW'-<"LM)B`@("`@("`@(.M7://#C
M])D5VY#(CN?N6#?TKI\?=G)'V>7<4&I^YY$W=T97TE,^QB[)+#0@("`@("`@
M("`@("`@(/E1^/$^,3DSN2NNQKR2U7;3:<Q__P#(#/X.XBN!E,Y;W;9+/E;#
MD8BYK+7`RVS;C--A<2^[,=G(YIM[N%_;#&OZ[L93?3L^9Q;9$!`0$!`0$!`0
M$'JK\4SD+^+G/S*QD5Y=LQMWRJFO[K'LN966-S?X[6&E[;'WMS:->()KNQM\
MK=1PR.:7Q,N96M($CP:CZE^R`SCYLZCF<"'1\M1&T4806SZHLG//%PEX(,`V
M`@'I!V4Y_)[?5K'EZ2KBZ+5F:^)$![V`SVP<6.<QQ8Z9@>T/:0YO$TD5!!IT
MI!/#"[D6D3C(VW@\)[88V.E-!0%TK@9'?)*OX9B.['[J_<:CBZ?05Z1^UF6+
M74D1<2(XJDDD^#8"3TDFE2K%RPM3Y`-H`'50`;^\-BTBEDE)`&P;`/4BFP=)
MZR4$AKG,-6DM/6#1!VAT^:X3%'_$+8"G4V)K0/,"YSRZ1PNZBB`@("`@("`@
MZQ=IA_!C=(D[!Y3R0V[1MM(%O#NSDX[-S^.#5FW<<&.Y_''5L3,Q=GEAH0$!
M`0$!`0$!`0$!`0>2?QM'Q@L?8QY.Q:2Y?Y"V/:#YL65Y9Z'C+&71T3IR-QM<
MUS$O[9Q+!+:%SK;$1R@LGR),A9+#:7$9WAC?6>&<IKIW?#%=75S>W-Q>7EQ/
M=W=W/-=75U=327%S<W-Q(Z6>XN)Y7/EFGFE<7/>XESG$DDE=F%.@("`@("`@
M("`@(/4;XJ%_!SSY@[2*\HLD-E.G6NB>OHV5Z%4?5)V.GAW-74]-_P#5O!T4
MW:GAZ]O2%CY/;ZM8<^CTG7!T6;.NX;"O^,6V[]N:K`AL+"QN;*"2:U@D<]I+
MG/C!)(>X;2=^Y03G8+#N^:QMF>_`P_*5M*A*.G<$=^)L#W[:,_*2Y*A"=,Z?
M/\38[\%B^E2Y*AQ\%].^\N._!H_22Y*AKOF)B<9CK+'/L+&UM'R74C)'01,C
M<]HAJ&N+0*@%:QF;28B(;*P'Y%Q?<LX!YC`L+'"[HH@("`@("`@(.JW:ED\'
MB-'GKRN2'_<8NI=/C[LY)/9?E\)#K$`UX?@]_=>6_23Y.R8NUZYMB`@("`@(
M"`@("`@(.O\`VGNTERY[)W)C5O.OF=>20X'3=O%!C\59ECLQJK4F0<Z#!:5P
M4#S^O9/+W>SB/ZW;P,EN)2V&&5[;C$Y323-/SV>T+S\YB]IKF[K'G-S0S$^5
MU/J[)37#8#-+)CM/89DD@PVEM/P2DBQP.!LG-@MXF@$@.D>72R2/=Z..D<.;
M2B`@("`@("`@("`@(/3_`.*H<&\[^8).[^J/(]'3\--%$#86G?W581]3_8P?
MQ<UM5&O$/ZM[>FPB@^%$(Z7'J6/D]OJUAR],UP=%CU#LQKCU7%N?[Z%8$["3
M12XV`1R->8P^.0-<"62![B6O&]KJ$';T&JA"[("`@(-7<T?R?B_OR7[`M8\L
MY<,WTZX/PF-+:T%LUNWK87,=\CB::=Q9E8X7I%$!`0$!`0$!!U%[6TO@L)HM
MVS;F,D-I_P`08:+I\?,LY*3LF3^&9K@5KPMTUU_/'/[?.3Y.QB[BKFT("`@(
M"`@("`@(""AR>4QN$QM_F<SD+'$XC%65UDLIE<G=P6&.QN.LH'W-[?W][=21
M6UG96=M$Z2661S61L:7.(`)0?"7\:A\8)D>VWSC9B])RW./Y"\K;W)XOEQC3
M+/'\*[UTS[;(\R<S:N+6"]SD,;8[")S>*RQP#:-FFN>/T8XZQ7=RF;EY8*@@
M("`@("`@("`@("#TX^*Q=P<[.8!V$GE-D`!4?TRT:>DC;4>8K"2^IKL4/=)S
M9U4:[&\LX`YN_P!4[5,'"22`:@-.[K[RQ\OM]6L.?1Z?K@Z,?U,[AQ3S6GZ_
M;_9!YBL<I+4<63O,;D)+JSF=&_C'&W?'*T`>HFCJ`]NWOCH(.U66;ZMK8+4U
MIF0(74MKX-JZW<?4R4^:=;O/S8Z>'YH=T"JRU$VR9%$!!J[FC^3\7]^2_8%K
M'EG+AFVG#7!XTT+?M<"AZ:/>.+O.I4=PK*QPO:*("`@("`@("#IGVR9?!:>T
M.X>_N2&^G\6@[_D+I\?,L9J#L<3>%CU_UANEOD5.HMGG*_)V,7=M<FQ`0$!`
M0$!`0$!`0?+K\>5\8C#(S,]B'E%D1+5^,GY]:KQ]XQS&F&2/)V/*NPEMY'.$
MS)8X+K-NJ`VD=D:DWD8[88U_4\L93?1\O*VRX0$!`0$!`0$!`0$!`0>F'Q7)
M`YT:_-*G^JG("E:;#K#1VWY!6H27U,=AU_%S7U@*[N6UIL'_`)GCW[^E<_EX
M]6L.9>I*X.C&=6NX<0X_XS!^F)^4K'*2TO,:RO/=1A`USF.:]CG-<TAS7-):
MYK@:@M(H004&Q\!K0UCL\P12@9'?@&NP4:+IHK6OM@I^B&]R-1EY;(:YKVM>
MQS7L>`YKVD.:YKA4.:X5!!&XA1I$@U=S1_)^+^_)?L"UCRSEPSG3_P"1,7]Y
MP_I5E8X7A%$!`0$!`0$!!TF[:SRS36A2/Z09+HK4^2S3SEU^+F88S[+9V*9/
M"-YBFNP-TC04IO.IO1HGR]C#N[V+DV("`@("`@("`@(/,#XTCM\X[L3<C[AF
MDLIB9N?_`##CEQ/*[`W38+^3$6Y>(LSS"RN+DXV.Q.G+<N%JV=CH;O)OAB+)
M(FW'!O#&YN>&<IKIW?"%G<YE]39O,:DU!DKS,9[4&5R.<S>7R$S[G(97,9:\
MFR&3R5]<R$R7%Y?WMP^65[B2^1Y)WKLPM2`@("`@("`@("`@("`@]+?BO:CG
M-K\@5_\`2F^'R/AAH\]/>6H9E]2?87)/-C65?_TVLSYNIXST&G2N?R^V/VU\
M?/H]45P=6*:S=PX8]%;JW'Z<_*1)X:9<:N)ZRJPX0$%]Q.HLCB'M$4KI[8#A
M-G,]QAX>(N/@M_@'5<35O2=H*+$S#;V)S=AF(N.UE`E:T&:V?ZF:$G?5OS[*
M_/-J#W]BC43;!N:'Y/Q?WY+]@6L>4RX9OITUP>*^\H/.:`I/*QPO*BB`@("`
M@("`@Z0]MS^;.A/_`#%D:][R2_?W%V^'F6,UK[$8_6^8W>TB/D`ZF4^7DP=\
MER;$!`0$!`0$!`0:3[1//S0'9CY.:WYU\R[]UGI?16*==NMH.!V2SF6N9&6>
M#TUAH)',;<9C/Y:>*U@:2V-KI..1S(F/>VQ&TTDS4/SXNU1VE=?]K;G?K+G?
MS&F8S+:ENFV^(P=M(^3%Z1TICS)'IW26(+VQN-CA[-]'2%K7W5S)-<2#PLSR
M?1$1$5#G<SRZ[H"`@("`@("`@("`@("`@]*?BP7<'.37YZ^5=ZWS=7:1/ZE6
M$E]2/81?Q<V=:[1_^&UE2@Z/A0W?W=BQ\OMC]KAR]5UP=6':Y/#@G'JN[?N>
MO5CK*3PTVP\30>NOHE6>6$:@(""=;7-Q9S,N+:5\$T9JR2,T<.@@]#FD;"#4
M$;T%QU7J(YK%X^&>+P=W;7+W2O93P,S71%H>T5XHW5&UNT=1Z!K&.JS-PV[I
M<O.G\47D%WBPW>MXW\`[X92O=69Y:CA?E%$!`0$!`0$!!TG[:H#M.Z"!Z=19
M/>*C\D//R%T^/F6,V"]DO6.E](C7+-29JQPYR'P:\1%Y(YANO%/+YN?!`-<7
M>`%PSB^C"U\D3-48]+=T6<U>7DGU/5>,D_:S<//F-@)HN6LM7">.9>AR`1GX
M"#N(M<@0>\1:$)4EPX/,S0XWYZ(=^SR0]&S363:$!YH:$&_4$7X%DSZ%DFLE
MPX'-'09W:@B_`LG_``)-9+A&.9NACNST7R;+)#T;()K)<(OZR]#^_P##^"9#
MT/%$URXHVAQ_6;H8?Q]%^!9(^A9*ZY>#:$!YH:$'\?,V=5AE3Z%CN4UDN$L\
MU=`#?J&,=_'Y8?Y@FLFT/DY^-MUYVN>V!SFGT5RYY)\]Y>SGRONY+#2-K#R\
MUA:8S7FJ8/&+;,<R+RS.-8;N.?PS[3#&<%T&.:96MBDO+AA[8Q&,?EB9N?P\
MA3V/NU4WYKL[<YANW\NM4C?_`*,Z%I$'_"%VI]O_`.W?G+LW_P#IWJC_`%:E
MP./^$/M3?_UYYQCO\O=3CT<<@EO[)/:A8*O[/O.!@'KM`:E'HX]!3GLI]I8;
M^0_-<?1:&U`W=]%8A!#_`,*W:3K3^HKFI\G16>'^9((7=EKM(,%7<CN:#0-_
M%HW."G?)LP%44S^S/VA(_JG)GF/'3>7Z3R[0/-MNXE2*9_9SY\,V/Y1Z_:>I
MVF<F#Y]N.I*DN%.[L^\[V?-\JM<L^BT]?M]&()4EPDGD+SH!X3RPUJ#NVX&^
M&WZTE27"8.0/.L[N5^M3T?D*]W]7U)*DN$0[/O.X[N5FMOS#>^YI4EPB'9[Y
MWG=RLUM^8KWKI2ICIO5UDN$;>SMST=L;RIUP3_(-Y](I4EPGCLW<^W"K>46O
M'#K&GKXCSHTJ2X=]OB^N5G,KEUS3UEE-;Z'U+I?&Y#EY=XRTOLUB[FPMKB_?
MJ735VRUBEG8UKYW06LCPT;2UA/0K$$R^E#L$N+N:VM213_TWLM^_^=#5CYO;
MZKAS+U>7G=6$Z_--/N^_+8?9%K'E,N&FHIHA&P&1H--Q(!WGH5F)MA'XQ![;
M'[,>FI4AXQ![='[,>FE2'C$'MT?LQZ:5(>,0>W1^S'II4BAOI(WL8&/:XA]2
M&N!IL/4M1%#L-I4UT]B36OVHT?)#G`^80L3RW'#(%%$!`0$!`0$!!TP[9<+I
ML%H!@%?]H\G4TW?B>6FVAI5=/CYEC-TCPEE>B6;PT%O%'X5XMGPW,LTDD'@X
M."2YC?9P,@F=*906-=(&M:P\1+BUG668;0Q=M..$<1&P;J[=WH!9&>P0W/@(
MR''U-!L)V&E-@K7?TJ";)#<4H7[3W2=N[<@H7Q3`C]<.P]W;7KV]!3J)8\*T
MC]<KL&_HZ^Z2G43A*\?/U.[82`>YUU^4@FQSN+J%^T';3H'=^2@K'/>X5$N_
MKV4KU504\A</G^K<>KY*L4**:3JEH>YO^7506*X#W5]6>X>]L-!7SU>UBQ3A
MXK5U>BO=IW".KN*SQ8M,A?M)?7HI7SMZ0*!\Q%=KNLCO`=*I3#LY<RAI(?PL
M!V"O>H7>;WD)8!)=%SO52D;QOI7S]VU:Z=F;\<*=]QO)GJ1WNCY=0G7LG5:+
MZ0%GU;UWSVX`]^H[Z*P/)@.=7PNRG6!0UZ16O_4M)+"KR#B/U4;"=Q%*GO%5
MEBMY9>$J3(=_21U=&WIJJ,<DQCB=DA%2=X%=M*[JU]%!-9C90"0\D#J'0*]'
MI(.'6,S1\V3WZ#;0G8:=%$$CQ:Y!`$AI4;-FP"O34#>@N%O#=MI1S_H?0H>@
M5"#)+:*\\$^CGGU.[;O[NZJ"Y67E-H888XY9#)!Q-GG?`&Q&XA9<O:66]R72
M1VCI',:0T/>UK"6-<9&0>EW8":X\T=:O-?4\ML<T]57:FXA\DT\Y<?E]OJZ_
M'R]9%YW5AFO8R_3L[@:"&>WE<?T(<6'].KCRF7#0?#7YYH[A)W;""#0@BAZ]
MJZ.:&.%TS9I&F+]9;QN:]_#(YNVI8TGU7"!M151%;6_B?C4\DO$^Y?;QPQ!@
MJ(HXI))'2/)H!X8```UZT[T*>:#P<PB8XN#V02-)::\-Q#'.T.:WB)<QLE#2
MNT;$$MT99(8W$`BFT!VVH#FT!`<"0=Q`(Z:(C@,J_A!J`0"=V\TIO(J3NZT'
M9?2T3H=/8ECMI%HQU>L2.=(".X0Y<YY=(X7]11`0$!`0$!`04EY86.0C;#?V
M5I?1,D$K(KRVAN8V2AKV"1K)F/:V0,D<*@5HXCI06_X-:<&[3^$_-5A[@K<I
M4(O@YI[WBPWYKL?<%%1?!_`>\F(_-ME[BK<E0>0,%N\B8BG\FV?N*7*5!\'\
M#[R8C\VV?N*7)4.?(&"]Y<3^;;/W%+DJ#R#@O>7$_FZS]Q2Y*ASY!P?O-BOS
M=9^XI<E0Y\AX7WGQ?YOM/<4N2H/(F%W>2,73^3[3W)+DJ''D+";_`"/BJ_R?
M:>XI<E0Y\AX3WGQ?YOM/<4N2H<'!8,[\-BCW\=:'_P""ER5#4/:`@P^G>0_.
MS4-OB\;;7&!Y1\R,S!=06=O;W%M-B]&YF^BG@N((V3P30O@#FO80]K@"""%<
M9G:/V3[9_3RJ[0>1L<)V5-'ZLQ]M;8+4%[K;1]M<Y[%R7UADKJPR?,C56(DM
MI+^UNH[J2*2VQT+'L+^%T=&FK11=\??,=O\`TY3[?R]@M%:3TG%I;$16^G,*
M+<0SNC:_&VDU&R7=Q(:/FBD>6%SSPBM`*`4``7"9FW6(BF3?!+2O]&=/_F;'
M?P92Y\E0?!+2O]&=/_F;'?P9+DJ$)TAI,[]+Z=/?PN-/^;)<E0A^!ND/Z*Z;
M_,>,_@J7/DJ$!T5HT[]):8/?P.*/HVB7)4(3H;11VG1^ECW]/XG^")<^2H<?
M`71']#=*_P"[V(_@:7)4'P%T0-VCM*_[O8C^!I<E0?`71/\`0[2O^[V(_@B7
M)4(3H+0QWZ+TF:;JZ=P^S_N:;9>9*@^`6A?Z%Z3_`-W,/_`TVR\R5#D:$T.-
MVC=*#O:=Q'\#2Y\E0?`/0_\`0S2G^[N(_@:;3YDJ%UQF`P6%=._#X7$XE]RV
M)ER_&8VSL'7#8#(86SNM88C*V$S/+0ZH:7&F\J7*KL@M>;L#D\5?6+>$/N('
M"(N^9\,PB2'BW>I\*P5[B1RD\.NK;.6%\EI=VS[>>!Q9)%,"'QFM:--"XM=6
MH/5TG>NE]+8[HQBF/W%\0V[9(GOKWC!)-L/=%4LI4PXU\32QL\4C>(O#);2:
M5K7$`%S6363PTN#0#3?0):U*5)B/"/+WW32XT%/`75`&@-:UK66C&L8QH``%
M``*!+*23C&Q_--?(/7!KHV=>WPD@?3O-2TI':8VYR61M<?90<<CI&U<T'P-N
MVHX[B8AM>"-I)VANT=-:)?2R'92V@9:V\%M']3MX8H(_H(6-C;_<M7-T3D!`
M0$!`0$!`0$!`0$!!H+M"<U=0\G]!:BUW9VFCL;IG2F'.:U1K;7N;REE@,!8^
M,&W=(S$Z;PV<SF5DMCPNFJ+6-C98RQTQ\*V+6,1,U+.4S$='C9??&=\O;F]N
M;V\[;/)BT,SPXVMCE=?8^QMVAK0V*WMH^4[&QM:T=)+B=KB223VTP\?Z_P"V
M+R00_&D\G8"!/VV.4L^_YC4/,%Q)W]/*UN[OIICX_P!?]EY>B^6OQJ_(5M/#
M=L+EG,-U8\WS`=4]/_Y:L/3W%-,?'^O^UN5_C^-B[-=OLN>U9H*0@@.$67UV
MXC=O#]"1%-(_RBY5\7QN_9/8*S=IW1\A%:AF2UML`VGYK2$==@33_.A<_E71
M_&\]DES06]H[34H)(!9?ZR()&\5.F`:@J:?K_@N4BX^.`[)T0/#VAM/<5:?N
MS5O#U;SIQ/K+EC>2^..[,L,;S8]H#2SY/G!-?ZKC%:5`).FW]74K]<%RZO\`
M/#XV71^O^6W,+16DNT9RMQM[JS2>?T]C[G*9S6T=I%/F,;<6,?CTEGHBXN&V
M;C/24,8\NC)'"ZM%J,,8Z]TO+T>/>O\`M1]K'F%RTQ7+#.=O3LCMTYALQ9YG
M'1V0UE:7\=QCL])J.S;/D'\E?'+IC,A=W`<R3B8^)X8X.:T`7O?2UZ<3=/6[
MEO\`'`6NE-&Z7P>L.TWRPS^?QN)M(,]E+.]R\5OD<HU@=D+NW9'H#'0003W#
MG.;'%;P1,!X61L:`T33">4_MOW!_'3<AI(P[-\[M-ND)'&_'93.RQDT%0&^0
M;9K>\**:8]B\N[*V_'/]EEP]7SPM&DG;2[SH'R"+(&BD_'XI;G\I<OQS_95;
M7_USMV`;.+Q[.\).ZM395H3NV)I'X+G\K;+\<]V77C]9Y_6+32OJ\IFV[-FW
M\F/32/P7DM<_QRG9W>2VT[06)/%\S7,9T'9M-!Y"?N`2/CQ+R8S>?'(<F"YP
M@[0^$CH:5?GLZVFVAJ/@RX;"KIBEY?E99?CA.6$H/@.TOIB)VT#BU+G6@=5:
MZ3</15TP_!>:U'XW+33)HKFR[4^AXQ'+'/P7>H\I<Q'P;FO#7P7>A)X98G$>
MJ8X<+AL.PII@7F]@>Q9VN,]VJM'0:SQ6!TOJW0HU!E-)2\SM`:BB.(M\WA<5
MY2O69;3NHF8K+>#K+;6[IL=XY]MWD?ZPR!LTL'+/'''B6\9F>7?)<VA`0$!`
M0$&+9UN%N06WF.=D9F#A#H&%DC-Y#?&VOA<UH)W-<:'H5BTFFM;S&5>\V.-R
M-JTD^#_&3GT&S:6/MGT[W$>^M7Y9KPM9M-1LJ([B[:`=@/"ZE.[P"OF)T7J@
M\5U`X_KTUV]O2UKA&XCN.\$^GF)T@ZK[C[3&5_&N*S,^W>R_,K7;.E@%C2IZ
MG*7X*\MG83R)%&8L7;LM'.H7QOB?'</I4CBDEXGS\(KN<ZBDJOZBB`@("`@(
M"`@("`@("`@T]SZT!B>;O*/F'RGSF+OLKB=?Z4R&F<E;6;[FT,EEEV&UGX,A
M;RV[[::%E7@MD:\4%-XK<9J;2>*AX.7OQ"/9XNS(7Z7UQ60DG@UIFVCU1K2C
M<HUI\RJ[?9BQKDLT?Q`'9UAKX'2FN8S4[6ZSS3C7=4%^4.TA-\?P5DE.^(#[
M/SCQ?!O7X-:U&L<P:=P?C%-\?P5FE/\`B!>0_$7MPW,0$_\`U?EW$;.LWYV;
M.I-\5K)2R?$`\BI/FL+S#-1M/PLRM2-NP_;HKO3?$_I"SX@+D9$T!F*YD,;4
MGA9J[,@5.\T%]1/LQ\,UD.^('Y('?B^91%=H.JLN0=N[]VA/LQ\%9?Y"UY/_
M`)?/L_Y6.**\T[S$G;#)X5@DU3G*-?P.CXAX/(-V\$A'>*;X=X:_N%CF_P"7
MA[.,,<DLNE]?LBBC<^21^K=0MC9&P$N<XG*!K&-:"378`FV$EY^5E?\`\OYV
M62*G%ZQX!_\`6^9(W[C^-=M>K:K,X^#;/RKX?^7B[-<\3)[;2&NIXW^JCFCU
M1J&1K@"15CQDBT@.;39NHIMC'8V^3RO&/_Y??D'C8Y8[/2?,*!LTOAI!'J+.
MGCD\''%QO,EVYSG<$31W@$WP\)_<\RK7?$$\D*;-.<QJ=0U!FC3_`+T%=\?'
M_)_20_X@7DD]I:=-<QR#UZBS%-A!W&Z4WQ/Z4H_Y?_DD-VEN87^\&7/Z:Z5V
MP/[<Q_$!<EF/#AICF&*;O]H,MNV[-ES3<4VP/Z1N^(%Y*NXB=)Z_))WNS^6)
M.W>?MK>FV'X/Z2?_`/`3DP-C=):]`W[,[E.O9M-SL3;!?Z1GX@CDZ0&_!?7]
M```/+V5W#HV78ZDVP3^GLS\7EV4M,=BOD[E.3FE;#5UKC<WK_-ZV\#G;G,Y>
MULKK)X/!8ZX%O>7]Q=6V/M[GR`'F*+P3#,\DM+WESN6<Q,W'#6/YY>@"PT("
M`@("`=NQ!3^+0^L;Y@])!QXI;^UA`\3M_:PB5!XG;^UA"H/$[?VL(5#EMK`U
MP<U@#@001O!&T(M*A`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$$FXA;<03P.`+
M9X9(7`[BV1CF$'N4<@Q1^DK1T(AX(RWB!H6CH-?15M*99#$(88H6[HHV1BFZ
MC6@;/,45-0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$$#Y(X
MQ61[&`[`7N:T'V1""4+NT()%U;D#>1-'0=_U2`+NU.ZYMSWIHSZ#D$(OK(BH
MN[4C=47$1%>KYONH.?';,GA%W;%P%2/#Q5`ZZ<=:(!O+,;[NV'?GB^F0<>/6
M7W7:]?[HBW=?S?<0/'K+9]N6NW=]L1;>]ZM`\>LAON[7\(B^G0/'K'[LM?PB
M'Z?N(!OK(;[NU%>NXB'ZM`\?L?NRUZ?\(AZ-_P`_T(./'['[MM-FS]TP[^KY
MM!,CNK:5W#%<02.I7ACFC>ZG71KB:()Z`@(*.\O[:P8U]P]PXW<,<<<<DTTK
M@*D1PQ-?+)0;30&@WH+:=1X\?L63_-.1_@RM)<(?A+CAOCR7YJR'\'2BX<?"
M?&>LR/YKR'\'2OT6A^%.*&\9`?Z,O_X.E?HM"=5X@;S??FV^]P2OT6A^%V&&
M]U]^;;_W!762T)UCA!^R7GYNO?<$UDM"=:8,5]7>[/\`Y?=[?[TI4IM"#X;X
M'IDO!W\?=^Y)1M#CX<X`;Y;P?Y!=>YI1M"$ZZT\/V:[[WB-S\MB:R;0@.O=/
M#]DO#WK*;T"`4UE;A#_6!IT;Y+P?Y'+\JJ:R7"+X?Z:I4W-R._97/TE$UE-H
M/A_IG[KG_`KKW)763:#^L#3`WWDX_P`BNO<DUDVA">8.F!_A=P>]9W'TBFLK
MM"$\P],C_"+D]ZSF^6`FLEPA_K%TS]T70_R27S=G_6E2K+<?D;/*6S;NQG9<
M0/)`>SH<*$L<#0M>VNT%3@5J`@("`@("`@(""3<2B"WGG(J(8992.L1L<^G1
MOH@Z^WE[<W]Q)<W4KY9)'.=ZIQ+6`DD,8":,8VM`!L`5<U$XBFP[>X5J(ZB7
M4]9\U:J$2WNZCMKT%!!4]9\TH)+R>([3T=)00U/6?-*"27'U57.W[!79OVUV
MH(:GK/FE!`YY`V.->^@E\;_7.]D?30.-_KG>R/IH.*GK/FE!$R62-P?'(]CV
MD%KF.<US2#4$$$$$$(.Q6B\K<9?!0SW3B^XAEEM9)7&KIO!!CFR./2XLD`/6
M0N<])=(FX98HH@Q;(N_&\G%M\'C;/P8];X>ZR'A:=7A/%V5Z^$=2L,Y,3NM2
M003S0.@F+HI'QES2RA+"02VKJ@&B,]%$[4L!W6\PZMK/31J)B$AVH(G?L,WF
ML]&NP)1M"0[-QG]BD[FUM/12H-H77#P7.<DD;;QNBBB;62XEVQAQIPQ#AJ2]
MP)-!N`V]%;<0L3:^.TC>NK]MVWF2^?ZG:FRI!T9?'_#+7S)?I$M)A*.B+\_X
M9:>9-3](I::I#]"Y+A<6WEFYP!+0?##B-"0VO@Z-J4LU8/>6UU:2NMKJ%\$T
M>]DC>%U'$GB!`H]KNAP)!&XJQ7=E0ECCT@=W:2M;0)1@>1L<T>;Z2;0(#:O]
M<VO=KZ2;0)?B4AVE[/[KTDV@0FQE.Z1@]E7T$V@0>3I/;&>8[TDV@<>3I?7Q
M_P!U]*FT"$XV8_LD?]UZ2EPL32GN+1]NUKG.:[B=P@-KU$]("JQ-MM<JG.,&
M987'@$MFYK:[`YS+@.<!T%P:*]Y9R7NVTLJ("`@("`@("`@H\A^3[[[SN?L+
MU8Y'7?B%*U%:;JJUU<W8N"*+P$/ZU']2C^<;ZP=Q9=(X3?!1>U1^P;Z2#4.K
M<TR_NC969C\2M7;7QAM+F<`ATG&T;8HZD-IL)J=NRE8F;8=0=0\Q6Y0H.H>8
MER%!U#S$N0H.H>8ER%!U#S$N0H.H>8ER%!U#S$N0H.H>8ER%!U#S$N1C]S]7
ME^C*W'"-Y\MOYO2?RE<U^LVWREC+EO'AL!9:$&(Y5W#EI>BN.L-O^4Y-5F>6
MI\CMO[P]=S-^G*,J-`05=A8SY&[AL[=I=),\-K0EL;/GY7TW,C;M/IH1U;XQ
MF.M\59Q6=L#P1U+GN^;EE=\W*\^N<?,%`-@4=.%>@("`@M65P]EF(/`W<?JF
MU,,[*-FA<1O8ZAJT]+35IZMR),6T[FL#>86;AF'A;=Y_6;J-I\&_]"ZM?!R@
M;VD]XD*LS%+(B"`@("`@(+9D_J4?[9^I*U"QRV1RJ^IYOZ.P]"[4R:[MNK*B
M`@("`@("`@(*+);,=?GJLKK[!(K'(ZYKHY.R=M^YX/VF+](U<G2.&&:PSXLH
M78NU?]MW#*7#VG;;V[QM;7HEF;NZ0W;T@JDRU,C`@("`@("`@("#'KGZO+]&
M5TCA&\^6W\WG_P`HW/V*W6,N6\>&P%EH087FW\.6D_DVQ/\`WK)HG=JR_-;V
MZ/7/(?[HJL3RI$'(!<0UH)<2``!4DG8``-I)*#<VEL#Y(M3/<-'C]TT&7;7P
M,5>)EN#NK7:^F]VS;0(W$4RM11`0$!`02;BW@NX9+>YB;-#*WADC>*M<-_<(
M((J"*$':-J#4NHM*38TON[%KY\>!Q/%>*6UV[0\#U3X0-S^@?-=9K$Q3#400
M$!`0$%LR?U*/]L_4E:A8Y;(Y5?4\W]'8>A=J9-=VW5E1`0$!`0$!`0$%#E/R
M;D?O&[_>\BL<CKAQBG36GGKHY-^Y3,0X;%13O(=/)`QEI#O,LW@FT)`W1QU!
M<>K9O(7-TNH:3N+B:[GEN;B0RS3/+Y'NI5SCW````-@`H`-@1A)0$!`0$!`0
M$!`08]<_5Y?HRND<(WGRU_F])W,E<_8;8_+7/+EO'AL!1H08%J)W#EG=W&V7
MG762]-$[M979K=7!ZYI/TQ58GE3H-A:-T^97MR]Y'^M1D.L6._9)6N_=!;ZR
M(M]37>[;T"J6HAM!1H0$!`0$!`0<$`@@@$$$$$5!!W@CI!0:QU+I$QF2_P`3
M$#"`7SV3`>*,BI=);-`VQTWL&UO14;!;9F/#7B,B`@(""V9/ZE'^V?J2M0L<
MMD<JOF,W]'8>A=J9-=VW5E1`0$!`0$!`0$%!E?R7DOO"\_>\B1R.MJZN3(\M
ME9\M<-EE]3'#&V&WA!JV*)H`^2]Y%7'I/<`7-5K0$!`0$!`0$!`0$&/7/U>7
MZ,KI'"-Y<M?YO2_RE<_8;58RY;QX;!66A!KO5+N'+?Z-L_WUD5K%.[6]P:SS
M'KD>?/*,3RO.G<*_-7PC=5MI!PR74@KM9Q>IA812DDU"`>@`GHH8L1;>$<;(
M8V11,;''&QK(V-`#6,:`UK6@;```HVC0$!`0$!`0$!`0:YU5I8.$N4QD='BL
MEW:L%>,;W3P,`V/&][1\UO&VM:S,>&LT9$!`06S)_4H_VS]25J%CEL?E3\SF
M_HL?Z%XIDUW;>65$!`0$!`0$!`04&5_)>2^\+S][R(.LW$[K75R74;AW@L3R
MKE0$!`0$!`0$!`0$&/7/U>7Z,KI'"-Y<M?YO2_RE<_8;58RY;QX;!66A!K+6
M#N',,[N,M/WUD?06HX3NP:*UGOKUMM;,,DTTI:UHKU^J<XT/"Q@J7'<`*J,\
MRWGB,7!B+**TA`)`#IY>&CIYB!QR.WG:=@%31H`4:B*7-%$!`0$!`0$!`0$!
M!K+5^FQ'QY7'Q'A)+KVWC;4,)J3=,:-S"?FP-WS6ZM*S,>&ND9$!!;,G]2C_
M`&S]25J%CEL?E5\SF^_C_0O%,FN[;RRH@("`@("`@(""@ROY+R7WA>?O>1('
M6(O'17Y2ZN2\C<.\%B>5<J`@("`@("`@("`@QZY^KR_1E=(X1O+EK_-Z7N9.
MY^P6I6,N6\>&P5EH0:JUL_AS,?=Q=K^^\CN[I5[,9<LCTAAHK.T;DGD275_&
M'@[VPV[W<;(V;*\3Z`O/>'14I:B&9**("`@("`@("`@("`@$`@@BH.P@[00=
MX(0:CU1ICR:'Y"S)?9R3GPD`93Q,24+*.!HZ$R5:-@X:M&W>JS,,)1D06S)_
M4H_VS]25J%CEL;E5NS??L/\`.U,FN[;ZRH@("`@("`@(""@ROY+R7WA>?O>1
M!U<75R7\;AWAZ"Q/*N5`0$!`0$!`0$!`08]<_5Y?HRND<(WGRV_F\_\`E*Y^
MQ6RQERWCPV`LM"#46O7<.9@Z*XNV_?=_L6HZPQERV+I\UPF*/78VY_O84GEJ
M.%X440$!`0$!`0$!`0$!`02IH8KB&2"=C9(9F.CDC=\R]CA1P/3M![Z#16<Q
M,F'OY;9P<87$R6LIV^$@<3PU(V<;/F7;MHKN(58F*6=$6S)_4H_VS]25J%CE
ML;E5NS??L/\`.U,FN[;ZRH@("`@("`@(""@ROY,R/WA>?O>1(Y'5<N)[RZN2
MZ-R$0:!P2;`!\[T#Z)357/E&+UDGF-^F4U#RC%ZR3S&_3)J'E&+UDGF-^F34
M/*,7K)/,;],FH>48O62>8WZ9-0\HQ>LD\QOTR:AY1B]9)YC?IDU#RC%ZR3S&
M_3)J'E&+UDGF-^F34/*,7K)/,;],FH>48O62>8WZ9-1;)GB25[P"`YQ(!W_)
MI5:1O3EJ:Z>E'5D[D?WBU/RUC+EO'AL%9:$&F^8;J9JV&[\5P;>K[;OEO'AC
M+ELK3NW`X@]>/MOL35G+EJ.%Z440$!`0$!`0$!`0$!`0$&*ZMQ)R>,,D30;J
MQXYXNM\7#]L1#NN8T$#I<T#I1)BX:7586S)_4H_VS]25J%CEL?E5\SFSW<?Z
M%YZ2F37=MY940$!`0$!`0$!!PYK7M<QP#FN:6N:=H+7"A![A!0=<]3Z>AQ.1
MD@Q]SXW"XEPB#)72VI)-8)I&1NA>YE.AW%UM&\](FW.8J6.>)7/M3Q_V<WRH
ME;.CGQ&Y]K/L)O<DLZ.?$;GVL^PE]R2P\1N?:S["7W)+.AXC<^UGV$ON26=#
MQ&Y]K<>\R3Y;`EPAXC<^U/\`82?2)<!XC<^UGV$ON26IXC<^UGV$ON26=#Q&
MY]K/L)?<DLZ'B-S[6?82^Y)9T/$;GVL^PE]R2SHJ+3%37-S#!)(RU9+(UAGF
MCN#%&'&G$_@A)`'6:`=)`VJ6.R&$Q-KA,=#8VA+V-K)),>'BN)I`"^9W#L]4
M``!MHT`5.]8F;;CHNRBB#2G,AP&<M:^]4'[[OZ>@MX\,9<MH::_F_A_Y.M?L
M35F>6HX7M11`0$!`0$!`0$!`0$!`0$&A<]C_`"9E;NV#>&+PAEMQT>`E]7&&
M]88#P]]I58GEBF3^I1_MGZDK4$<MC\J=V<'=QWH7OI*9-=VWEE1`0$!`0$!`
M0$!!;CBL>22;:,D[22*DGK).]$H\DX[[EB]BA1Y)QWW+%[%"CR3CON6+V*%'
MDG'?<L7L4*/)..^Y8O8H4>2<=]RQ>Q0H\DX[[EB]BA1Y)QWW+%[%"CR3CON6
M+V*%'DG'?<L7L4*/)..^Y8O8H4>2<=]RQ>Q0H\DX[[EB]BA2MBB9"QL<8X6-
MV-;T`;Z#N(J8@(-'\RR!G;2OO3!^_+];QX8RY;4TS_-["_R;:?86K,\M1POB
MBB`@("`@("`@("`@("`@(-;\P+3U./O@-H=):2&F_B'AH17J'#)YJL,Y-19/
MZE'^V?J2M0D<MC<J?X\_T?\`YZIDUW;?65$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0:,YG?EVS_DF']^7RWCPQERVOIG^;V%_DVT^PM69Y:CA?%%$!`0
M$!`0$!`0$!`0$!`08WJVW%Q@;VHJZ`17##U&.5G$?K3G#Y*0D\.OV3^I1_MG
MZDK<,QRV-RJ_CO\`T?\`YXIDUW;?65$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`)IM.P#:2>A!I#F-#->9JUDM(I+IC,9%$]]LQTS6RMN[TNC<Z,.:UX#A
M4':*K>/2&9BY8A'/JF)C(H)L_#%&T,CBBER#(V-`HUK&-<&M:!N`%`G3\+'2
M$;KO5S1Q.NM1-'6ZXR0&WNE]$Z%H/*&JON[4'X5D?=%:@L\?U6?\.U!LW_;6
M1V?WQ*@L\?U5]W9_\*R'NB5!8+_51W7VH#_E61K]D2H+/']5?=V?_"LA[HE0
M6>/ZK&PWVH`?OK(^Z)4%GC^J_N[4'7^ZLC[HE06>/ZK^[M0;=WVUD=O]\2H+
M<'(ZI&^_SP[]WD/=$J"W'E'5.T^/YZ@W_;>0]T4J"SREJCWPSWX7D/=$Z%GE
M+5!_C#/?A>0]T3H6X\IZG]\<]^%Y#W1.A;CRIJ;WQSOX7D/=$Z%ARFIAOR.=
M%>N\R'NB="R2^U+)&Z.6\SLD4C2US)+B_=&]KMA:YKGEKFD=!3H+:ZWOWBCX
M+MPK4!T4SA7O%IVJV=&V>5\;X!F1.QT+I'6'@Q*TQE]/&ZA@>`74J*TZUG([
MMMK*B`@("`@("`@("`@("`@("`@("`@("`@()4D\49H]XXO6BKG;=U0*D`]9
MV(*)]\XU$;`T;*.?M)V[?4-(`V;C4]T=""AD+IOJKWOV@@$^H!!J"(Q2,.'7
M2O=5%))&#79M_P"E.XK+$PL]\,C\S8P0$EIK+.\@`FHHV-@%:#;4NIW"H,5G
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MWCB#0:$='<5N#648TOE&AKV2P!Q)-62/!8-G"6.#17C#CNIYZFT&LH!I;(`D
M\<#7``MH]U2ZH%:\/J2&[:]SY*NT&LH7:8R1]4YT)>75<XS.-1MJ3Z@N)/?3
M:#64#]-9,D?KEN\-'"RLC]C030-!9ZENW<$V@UE6VN)SEE06MU"&N`=)`]Y,
M)=4@M,;F.820!ZH4.U2\96IAE=C'<O92\@BAE%-L$AEC?LVGA>T.CVC=5W?6
M9IID-M&T-(X=AV$$"A2&>97B&::(#AD=3?PO]6W=0`5/$UO<!"3RTK8[ZII*
MSA&RCV$N'=XF$!S:=PNJH*QDT4E0Q[7$`$M!]4T&M"YI]4VM.D()B`@("`@(
M"`@("`@("`@("`@("`@(+"_(/DEFC/&T12R1T:X#ZG(Y@-0`XUX=H)HJDS24
M)&>MV5)INVG:3LV;2E%PF"9HW-/G*ZRKGPK7"FZO6I4B!S0?3I_92)H2_!]W
MSO[*6SJ>"_1>=_92S4\%^B\[^REFIX+]%YW]E+-3P7Z+SO[*6:I3[5LA!<YV
MP4`%*#K([I46J0>)1^N=YR'5(?;<,T<0:YT;V2.?*7`-C<PL#6%HC<29.(TW
M?,E6K.KGQ%G6WV;_`'!*.J6;!IZ1\EYK]A2I.J`X]M.@_P!N[Y<-$HL.+B]>
M=PW4(V@$[>%IV'8K1U0'%P^V/\QORPI5)<I[+0,:&B0N`K3B:"1W-A&Q$MP;
M;IXQ0?H3Z92EV2S;@_/4[S1Z:4;(/%?T?]Q_[24;(#;\)V/%?VNGZM*-D38^
M'IKMKNI\M*-E2R<,V<)-.[3Y261$\IOCX:!6,G^W'I*+U4\V:M;?A,[HX0^H
M:99F1\7#3BX>*E:5%>^K1:*++P3L$L`;,T.($D4K'@.%*@/;6C@"H*O&YV6Y
MR,5@87!KVRN=(^4.+1'&YX#0&!Q)<!M+B**UTM66*`@("`@("`@("`@("`@(
M"`@("`@QS(1P0&1]N7F9[WOD8V/PK2]YXC4F6+@JX[=KJ=2J3$=V,OR6283^
M+V.I7<]WGBI52O"`9F_Z<<"?HWT]`)<KU\(O+-_[VL]FX^BG7R=?"+RWD?>Y
MOUQRE%SX/+>0Z<<WZX?2*47/ASY;O_>T?73]*E%SX/+=_P"]H^NGZ5*+GP>6
M[_WM'UT_2I1<^''EN_\`>T?73]*E%SX<>6\C[VL^NN^E2BY\'EO(^]S?KCO2
M2BY\'EO(^]S/KCO22BY\'EJ_][6>S/I)U\ESX<>6;_WM9[-P]!7KY.O@\L7_
M`+VM^N.2Y.OAP<QD.C'-^NN](I<G7PX\KY$_Q:T_]H[Z5+_2>CCRMDNC&-I^
MV/W^Q3_P5^#RKD_>UOLW^DA7X<>5,D=^-:?[=WTJB4X\IY'WM;]<?Z2%.#DL
MC3\FM^N//G4[B%(3?Y'WN9]</R@"A2'Q[(G^+F_)>_N=??1:EP;O(^][?KA^
M51.AU0&YR7O>SV9'RBG1>J-EW?%X$UD6QG>Z*DSAWF/DA!]D$Z%RRW#6F-\,
MVYC?*^]:QWJ98S!X,/%'<$8+V./":'U;T_TK*%`0$!`0$!`0$!`0$!`0$!`0
M$!`02C#&ZI+0:DD[!TFJ"#Q6#VMOF#TD''B=O[6$2H/$[?VL(5!XG;^UA"H/
M$[?VL(5!XG;^UA"H/$[?VL(5!XG;^UA"H/$[?VL(5!XG;^UA"H/$[?VL(5!X
MG;^UA"H/$[?VL(5!XG;^UA"H/$[?VL(5!XG;^UA"H<>)6WM?GGTT*@\2MO:_
M//IH5!XE;>U^>?30J#Q*V]K\\^FA4'B5M[7YY]-"H<>)6_K/0])"H<^)P>L\
MYOI(5!XG!ZSSAZ2%0X-E`?G13NM!0J$/B,'K6C^T;\L(5#D64`^<8?[4?*HA
M4)D=M%$X.8QK2*[A3?L]!%5"`@("`@("`@("`@("`@("`@("`@("`@("`@("
M`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("
M`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("
M`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("
M`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("
M`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("
M`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(/
"_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>press_1.jpg
<TEXT>
begin 644 press_1.jpg
M_]C_X``02D9)1@`!`@$!+`$L``#_X1$>17AI9@``34T`*@````@`!P$2``,`
M```!``$```$:``4````!````8@$;``4````!````:@$H``,````!``(```$Q
M``(````<````<@$R``(````4````CH=I``0````!````I````-``+<;````G
M$``MQL```"<0061O8F4@4&AO=&]S:&]P($-3,R!7:6YD;W=S`#(P,#DZ,#4Z
M,#8@,C(Z,#,Z-#$``````Z`!``,````!``$``*`"``0````!````HZ`#``0`
M```!````7``````````&`0,``P````$`!@```1H`!0````$```$>`1L`!0``
M``$```$F`2@``P````$``@```@$`!`````$```$N`@(`!`````$```_H````
M`````$@````!````2`````'_V/_@`!!*1DE&``$"``!(`$@``/_M``Q!9&]B
M95]#30`!_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)#!$+"@L1%0\,
M#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`6@"@`P$B``(1`0,1`?_=``0`
M"O_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$``04!`0$!`0$`
M`````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!``(1`P0A$C$%
M05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U%J*R@R9$DU1D
M1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F
M]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#(3$2!$%187$B
M$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F-<+21)-4HQ=D
M154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8G-T=7
M9W>'EZ>WQ__:``P#`0`"$0,1`#\`]5263]9>NGH73VYHH^T[K65>GO\`3^GN
M]^[:_P#=7-?^.;9_Y5?^S`_](J2&'),7$6/,+)9(Q-$O=I+A/_'-L_\`*K_V
M8'_I%%K_`,9F/#?5Z=<T_G[+&.C^IN]/?_T$[[ME_=_&*/>AW_![9)<]T[Z\
M]`S[F4>H_%NL,,;D-V`N_<%PWT;O^N+H%'*,HFI`CS7B0.QM=)))-2I)4^I=
M5Z?TK'^T]0N;15.UI,DN<>&5L;+WO_J+ELO_`!EX[7%N#@66MU`LN>*@?Y0K
M;ZUG^?Z:?#%.?RQOQ6RG&.Y>U27G1_QD=:DQAXL=I=9_<CXW^,O+:0,OI['C
MNZBTC3R9<SW?YZD/*Y>P^T+?>AW_``>^26'T7ZW]'ZQ;]GI<^C*+=PHO;M<0
M/I>F]I?5;MW?X.Q;3G;6EQ["5#*,HFI"BO!!%@VR27',_P`9O27L:\869#@"
M-*>^O_<A/_XY?2O^X67]U/\`[T*3V,O[I6^[#]Y[!)<?_P".7TK_`+A9?W4_
M^]"7_CE]*_[A9?W4_P#O0E[&7]TJ]V'[SV"2Y`?XRNE%S6_8LOW.#1I5^<=O
M_<CS77)D\<H5Q"K71E&6QM__T.K_`,8__(%7_AJK_OZ\Y7HW^,?_`)`J_P##
M57_?UYT.5?Y7^:^I:N?Y_HZ>%]5^O9^$S.P\9MN-:"6'U&M<8)8[]&[^4U`Z
MAT7J_3&A^?B/IK/^%T?6/Z]E>YM?]M>B_4;_`,2N!\+/_/MJW'L98QU=C0]C
MP6N:X2"#RUS2HY<U*,R"`0"1XKA@!B#9!(M\1(!!:0"#R#J"NN^HGUCLHRV]
M&RWNLHR3^IO>=WIO`<]]&Y_N]*UK?T/^CL_1_P"$6%]8>FU=+ZWE8-!_0L(?
M4/W6V#U/2_ZW.U4\1SF9N*]FCV9%+F$<[A8QS?\`I*Q.,<F/PD+#%$F$O(ZO
MM:Q?K-]9*.@XC7;?6S,C<,6G@$MC?9:[\RFK>S>MBQ[*V.LL(:Q@+G./``$N
M*\<ZMU6_K'4+>H7$Q:8I83(94/YFIO\`Y\?_`,*]4N7Q<<K/RQW_`(-G+/A&
MFY19F7E9V4[+S+77Y#R3O<=&@F?3I;_@JF_N-0'.#8DQ.@\3\`B4479-]6-C
ML]2^]XKJ9XN/C_);^>Y>H_5WZJX/1:6O+6W]0<!ZV4X29_<IG^:J;_)_ZXKF
M7+'&!IY1#7A`S/YE\ZH^K_7LBL6T=.R'5N,-<6AG'\FUU;U2OJNQG[,FJS'?
MQMM:63\-X7MJ'D8V/E5&G)J9?4>66-#FZ?R7*`<X;UB*\"RGEQ6A?$W-#A#A
M/?YCNO1/J/U+K.;TVYF:TVXE(+,;->?>XCVOH</I7>E_W)_ZVJF=_BX:_J3'
M861Z'3;"3?4=;*ASZ>*[Z+F6?0_2?T?_`(5=C7C48N&,;'8*J:J]E=;=`&@<
M)9\T)1`CJ3K_`'%8L<HR).G_`'3XEC_T>K^HW\@1ZJ;[G[**GW/B2RMI>Z!^
M=M9/M0,?^CU?U&_D"ZK_`!>?^*)__A5__5UJUDEPQE+>M6"(N0'=P?V?U+_N
M#E?]LO\`_(I?L[J?_<')_P"V7_\`D5[0DJGWP_NC[6?[N/WGQAG3^I>I7^HY
M/\XS_`O_`'F_R5[.DDHLV8Y*TJK_`!9,>/@O6[?_T>K_`,8__(%7_AJK_OZ\
MZ'*]%_QC_P#(%7_AJK_OZ\Y5_E?YKZEJY_G^CZA]1WL'U5P`7`&+-"?^%L5G
MJ?UIZ'TP/;D937WL)!QZCZEFX?F.8S^:=_QWIKR0U5N.YS`2>Y"D&AH@``>`
M0/*Q,C(R.I)H)&<B(`&PJVQGYU_4<Z_.R#^DR'EVV9#6_P"#J;_)J9[5H?57
MH]_5>LT;6$XN)8R_*L/T0&'U::?Z]UC&>S_0[UCKHOJU]<']$J^R6XK+L-SM
MSGU`,N!,!SW_`)F4[:W_``FR[_A5+DXA`B`UJ@QPKB!D?%ZWZ]=0.']7KJVS
MZF:1BM([!\FXG_K#+?[:\P7:?7[J.)G],Z9?A7BZBZZQS2TZ':PM.YOTMU;G
M;??]!<6F<M&L?B2;_P"BNS&Y_1[#_%O@,MS,OJ#P''':VFF1):7^^US?W?8&
ML7H"Y7_%RUHZ%:X#W.R;-Q[F`R%U2J<P;RR\-&?$*@/'52222B9%*%O\T_\`
MJG\BFH6_S3_ZI_(DI\.Q_P"CU?U&_D"Z3ZBY>+B==?=EW5X]7V9S?4M>&-W%
M[/;NL+?<N;Q_Z/5_4;^0(BU9QXHF/=HQ-$'L^P?\X>@?^66)_P!OU_\`DTO^
M</0/_++$_P"WZ_\`R:\?@>"4#P5?[G']XLOW@]@^SXG4>GYN_P"Q95.3Z<;_
M`$;&V;9^CO\`3<[;N5E<+_BR^GU/XT?DM7=*KE@(3,1K5,\)<40>[__2ZO\`
MQC_\@5?^&JO^_KSH<KT7_&/_`,@5?^&JO^_KSH<J_P`K_-?4M7/\_P!'O_JE
M]7.AY_U>P\K,PJK\BP/WV.$DQ98P3_9:M=WU.^K+A!Z=4/-LM/\`G-<UR%]1
M?_$K@?"S_P`^VK>57).8R3J1^8]?%GA&/#'0;#H\+]8/J`RNIV5T4D>F"Y^)
M87/W`>[]7L=NL]3_`(.SZ:X@$.`<.#JO<5XQU)M+>IYC:(]%N1:*XXV[W;85
MGELDI6):UU8<T!&B-+Z(?5M]'[/N/H^IZPK[>H6^D;?ZWI>Q02)`U.@"2L,+
MZ%_BWN:[I&33/NJR7$B.SVL(_(NN7FGU!ZLS!ZN_#N>&4]0`:R?],T_HF_\`
M7&.>W^OL7I2S^9C60_UM0V\)N`\-%TDDE"R*4+?YI_\`5/Y%-0M_FG_U3^1)
M3X=C_P!'J_J-_(%T'U-Z;A=3ZR_%SJA?0,=SPPDCW!S&AWL+?S7+G\?^CU?U
M&_D"ZG_%Y_XHG_\`A5__`%=:T\Q(A(C31I8_GC?=Z_\`YD_5?_N`W_/L_P#2
MB7_,GZK_`/<!O^?9_P"E%N)+/]W)^_+[6WP1_='V-#IG0^E=)-IZ?CBCU]OJ
MP7'=MG9_..=]'<KZ22:22;)L^*X`#0:/_]/J_P#&/_R!5_X:J_[^O.ARO1?\
M8VO0*H_[E5?]_7G4'P5_E?YKZEJY_G^CZ3]2^H8%'U9P:KLFFJQHLW,?8UKA
M-EAU:YRVCU?I($G-QX'_``K/_)+QHU,)DL!/B0"F]&O_`$;?\T(2Y6,I&7$=
M23MW2,Y``K84^C]?^O?3L;'LHZ5:,K-<"UCV#=56>-]MGT7;?S:V+SH3W,DZ
MDGDGN4B6MY(:!XZ+2Z1]7.K]8<QV)268SB`[,L]M8:?SZMWOR?;]'TOT?_"*
M2$(8HG6N\I+)2ED/[`VOJ=TAW4^MUES0[%P_TV3NX,A[:*N'-=ZEGYC_`/!5
MV*AUGI%_1NHV8%VK1+\=\SOI)+:W_P!9G\W:W]]>I]%Z)A=%PQB8C3J=]MKC
M+['P&NL>?[/T?H,0^O?5_"ZYB"C)FNRL[J,AD;ZW?R9^E6__``M7^$4`YK]9
M?Z&W_H3+['HK]+?^Q\C^!((U!&A!'<+MN@?XP&UU-Q>N;BYL!F8QLAPX_6*V
M^YMC?](SZ:Y;JW1>I]&>&]1IV,<=M>2TS2\_R'_X-SO]%=^D5+S5B4(9(B]1
MT(88RE`Z:>!?7F?63H%C&O;U#'+7"0?4:/P*J9OUU^KF&#.6+W@QZ=`-CI_L
M^S_IKRO:TF2`3\$X'8#Y*(<I#K(ED^\2[!W.N_7#JO5WFNISL'#:X.KJJ<18
M2WW,??<W]UPW^E7^C_?]1=A]6/K15UG".-D.#>J4U$WLC:'M'L^T5?R'2SU/
M]%8O.,3%R\Z_[-@TOR;^376`2!^]8X^RIG_&.7??5GZFCI0_:/4'"SJ(8\5U
ML,UTAP+3M=[?6M=7_./_`.V_](AGCBC"OE(^6OF5BE,RO<=;V?.,?^CU?U&_
MD"Z3ZBY6-B==?=E6LHJ^S/;OL<&MG<QVW<[\[1<YC@_9ZM/S&_D"F6SH1(\P
MK$X\43'NQ1-$'L^P?\X>A?\`EAC_`/;C?[TO^</0O_+#'_[<;_>O'O3'[H^Y
M/Z;?W1]RK_=(_O%E^\2[!]@_YP]"_P#+#'_[<;_>K&)GX6:USL.^O(:PP\UN
M#H)$P[:O%_3;^Z/N7>?XLV@8?4($?IV>7^#:H\O+QA`R!)I?CS&4@"`__]3T
MKJ72\#JF.,;J%+<BD.%@8Z8W-^B[VEO[RSO^9'U4_P#*ZK[W?^36XDI(>[7H
MXJ_J\5+)<%^KAOQ</_F1]5/_`"NJ^]W_`)-+_F1]5/\`RNJ^]W_DUN))WZ__
M`%G_`#D?JOZG_-<O%^K'U>Q"#1T[':YOT7.8'D?!UF]RTP(``T`X"=)1RX[]
M5_X2^/#^C7T4DDDFI8OK98QU=C0]CA#FN$@@]G-*PLGZC?5G(<7?8Q0XF2<=
M[JI_LU.:Q;Z2?#W/T.+_``5LN#]*OJ\K_P"-QT'_`$N5_P!NC_TFCT?4#ZM5
M&;*+,G3BZU[A_6V-<RO_`**Z-)2G[S_7^BP>S_5:^)@86#7Z6'17CU\;:VAL
MQ^]M^E])'+0X$'4'0A.DH#=ZW;**K1PF_4?ZJ-`:.FU``0-7<#^VG_YD?53_
M`,KJOO=_Y-;B2E_7_P"L_P"<Q_JOZO\`S7#_`.9'U4_\KJOO=_Y-+_F1]5/_
M`"NJ^]W_`)-;B27Z_P#UG_.5^J_J?\UP_P#F1]5?_*VK[W?^35_IG1NF=)98
MSIV.W';:X.L#9U(&V?<7?FJZDFR]VO5QU_6XJ3'V[]/#?A3_`/_9_^T5U%!H
M;W1O<VAO<"`S+C``.$))300$```````''`(```(````X0DE-!"4``````!#H
M\5SS+\$8H:)[9ZW%9-6Z.$))30/M```````0`2P````!``(!+`````$``CA"
M24T$)@``````#@`````````````_@```.$))300-```````$````>#A"24T$
M&0``````!````!XX0DE-`_,```````D```````````$`.$))300*```````!
M```X0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF
M9@`&```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!
M`#4````!`"T````&```````!.$))30/X``````!P``#_________________
M____________`^@`````_____________________________P/H`````/__
M__________________________\#Z`````#_________________________
M____`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X`````
M``0`````.$))300:``````--````!@``````````````7````*,````,`'``
M<@!E`',`<P!?`&@`90!A`&0`90!R`````0`````````````````````````!
M``````````````"C````7``````````````````````!````````````````
M`````````!`````!````````;G5L;`````(````&8F]U;F1S3V)J8P````$`
M``````!28W0Q````!`````!4;W`@;&]N9P``````````3&5F=&QO;F<`````
M`````$)T;VUL;VYG````7`````!29VAT;&]N9P```*,````&<VQI8V5S5FQ,
M<P````%/8FIC`````0``````!7-L:6-E````$@````=S;&EC94E$;&]N9P``
M```````'9W)O=7!)1&QO;F<`````````!F]R:6=I;F5N=6T````,15-L:6-E
M3W)I9VEN````#6%U=&]'96YE<F%T960`````5'EP965N=6T````*15-L:6-E
M5'EP90````!);6<@````!F)O=6YD<T]B:F,````!````````4F-T,0````0`
M````5&]P(&QO;F<``````````$QE9G1L;VYG``````````!"=&]M;&]N9P``
M`%P`````4F=H=&QO;F<```"C`````W5R;%1%6%0````!````````;G5L;%1%
M6%0````!````````37-G951%6%0````!```````&86QT5&%G5$585`````$`
M``````YC96QL5&5X=$ES2%1-3&)O;VP!````"&-E;&Q497AT5$585`````$`
M``````EH;W)Z06QI9VYE;G5M````#T53;&EC94AO<GI!;&EG;@````=D969A
M=6QT````"79E<G1!;&EG;F5N=6T````/15-L:6-E5F5R=$%L:6=N````!V1E
M9F%U;'0````+8F=#;VQO<E1Y<&5E;G5M````$453;&EC94)'0V]L;W)4>7!E
M`````$YO;F4````)=&]P3W5T<V5T;&]N9P`````````*;&5F=$]U='-E=&QO
M;F<`````````#&)O='1O;4]U='-E=&QO;F<`````````"W)I9VAT3W5T<V5T
M;&]N9P``````.$))300H```````,`````3_P````````.$))3004```````$
M`````CA"24T$#``````0!`````$```"@````6@```>```*C````/Z``8``'_
MV/_@`!!*1DE&``$"``!(`$@``/_M``Q!9&]B95]#30`!_^X`#D%D;V)E`&2`
M`````?_;`(0`#`@("`D(#`D)#!$+"@L1%0\,#`\5&!,3%1,3&!$,#`P,#`P1
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`$-"PL-#@T0#@X0%`X.#A04
M#@X.#A01#`P,#`P1$0P,#`P,#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,_\``$0@`6@"@`P$B``(1`0,1`?_=``0`"O_$`3\```$%`0$!`0$!````
M``````,``0($!08'"`D*"P$``04!`0$!`0$``````````0`"`P0%!@<("0H+
M$``!!`$#`@0"!0<&"`4###,!``(1`P0A$C$%05%A$R)Q@3(&%)&AL4(C)!52
MP6(S-'*"T4,')9)3\.'Q8W,U%J*R@R9$DU1D1<*C=#87TE7B9?*SA,/3=>/S
M1B>4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]C='5V=WAY>GM\?7Y_<1``("
M`0($!`,$!08'!P8%-0$``A$#(3$2!$%187$B$P4R@9$4H;%"(\%2T?`S)&+A
M<H*20U,58W,T\24&%J*R@P<F-<+21)-4HQ=D154V=&7B\K.$P]-UX_-&E*2%
MM)7$U.3TI;7%U>7U5F9VAI:FML;6YO8G-T=79W>'EZ>WQ__:``P#`0`"$0,1
M`#\`]5263]9>NGH73VYHH^T[K65>GO\`3^GN]^[:_P#=7-?^.;9_Y5?^S`_]
M(J2&'),7$6/,+)9(Q-$O=I+A/_'-L_\`*K_V8'_I%%K_`,9F/#?5Z=<T_G[+
M&.C^IN]/?_T$[[ME_=_&*/>AW_![9)<]T[Z\]`S[F4>H_%NL,,;D-V`N_<%P
MWT;O^N+H%'*,HFI`CS7B0.QM=)))-2I)4^I=5Z?TK'^T]0N;15.UI,DN<>&5
ML;+WO_J+ELO_`!EX[7%N#@66MU`LN>*@?Y0K;ZUG^?Z:?#%.?RQOQ6RG&.Y>
MU27G1_QD=:DQAXL=I=9_<CXW^,O+:0,OI['CNZBTC3R9<SW?YZD/*Y>P^T+?
M>AW_``>^26'T7ZW]'ZQ;]GI<^C*+=PHO;M<0/I>F]I?5;MW?X.Q;3G;6EQ["
M5#*,HFI"BO!!%@VR27',_P`9O27L:\869#@"-*>^O_<A/_XY?2O^X67]U/\`
M[T*3V,O[I6^[#]Y[!)<?_P".7TK_`+A9?W4_^]"7_CE]*_[A9?W4_P#O0E[&
M7]TJ]V'[SV"2Y`?XRNE%S6_8LOW.#1I5^<=O_<CS77)D\<H5Q"K71E&6QM__
MT.K_`,8__(%7_AJK_OZ\Y7HW^,?_`)`J_P##57_?UYT.5?Y7^:^I:N?Y_HZ>
M%]5^O9^$S.P\9MN-:"6'U&M<8)8[]&[^4U`ZAT7J_3&A^?B/IK/^%T?6/Z]E
M>YM?]M>B_4;_`,2N!\+/_/MJW'L98QU=C0]CP6N:X2"#RUS2HY<U*,R"`0"1
MXKA@!B#9!(M\1(!!:0"#R#J"NN^HGUCLHRV]&RWNLHR3^IO>=WIO`<]]&Y_N
M]*UK?T/^CL_1_P"$6%]8>FU=+ZWE8-!_0L(?4/W6V#U/2_ZW.U4\1SF9N*]F
MCV9%+F$<[A8QS?\`I*Q.,<F/PD+#%$F$O(ZOM:Q?K-]9*.@XC7;?6S,C<,6G
M@$MC?9:[\RFK>S>MBQ[*V.LL(:Q@+G./``$N*\<ZMU6_K'4+>H7$Q:8I83(9
M4/YFIO\`Y\?_`,*]4N7Q<<K/RQW_`(-G+/A&FY19F7E9V4[+S+77Y#R3O<=&
M@F?3I;_@JF_N-0'.#8DQ.@\3\`B4479-]6-CL]2^]XKJ9XN/C_);^>Y>H_5W
MZJX/1:6O+6W]0<!ZV4X29_<IG^:J;_)_ZXKF7+'&!IY1#7A`S/YE\ZH^K_7L
MBL6T=.R'5N,-<6AG'\FUU;U2OJNQG[,FJS'?QMM:63\-X7MJ'D8V/E5&G)J9
M?4>66-#FZ?R7*`<X;UB*\"RGEQ6A?$W-#A#A/?YCNO1/J/U+K.;TVYF:TVXE
M(+,;->?>XCVOH</I7>E_W)_ZVJF=_BX:_J3'861Z'3;"3?4=;*ASZ>*[Z+F6
M?0_2?T?_`(5=C7C48N&,;'8*J:J]E=;=`&@<)9\T)1`CJ3K_`'%8L<HR).G_
M`'3XEC_T>K^HW\@1ZJ;[G[**GW/B2RMI>Z!^=M9/M0,?^CU?U&_D"ZK_`!>?
M^*)__A5__5UJUDEPQE+>M6"(N0'=P?V?U+_N#E?]LO\`_(I?L[J?_<')_P"V
M7_\`D5[0DJGWP_NC[6?[N/WGQAG3^I>I7^HY/\XS_`O_`'F_R5[.DDHLV8Y*
MTJK_`!9,>/@O6[?_T>K_`,8__(%7_AJK_OZ\Z'*]%_QC_P#(%7_AJK_OZ\Y5
M_E?YKZEJY_G^CZA]1WL'U5P`7`&+-"?^%L5GJ?UIZ'TP/;D937WL)!QZCZEF
MX?F.8S^:=_QWIKR0U5N.YS`2>Y"D&AH@``>`0/*Q,C(R.I)H)&<B(`&PJVQG
MYU_4<Z_.R#^DR'EVV9#6_P"#J;_)J9[5H?57H]_5>LT;6$XN)8R_*L/T0&'U
M::?Z]UC&>S_0[UCKHOJU]<']$J^R6XK+L-SMSGU`,N!,!SW_`)F4[:W_``FR
M[_A5+DXA`B`UJ@QPKB!D?%ZWZ]=0.']7KJVSZF:1BM([!\FXG_K#+?[:\P7:
M?7[J.)G],Z9?A7BZBZZQS2TZ':PM.YOTMU;G;??]!<6F<M&L?B2;_P"BNS&Y
M_1[#_%O@,MS,OJ#P''':VFF1):7^^US?W?8&L7H"Y7_%RUHZ%:X#W.R;-Q[F
M`R%U2J<P;RR\-&?$*@/'52222B9%*%O\T_\`JG\BFH6_S3_ZI_(DI\.Q_P"C
MU?U&_D"Z3ZBY>+B==?=EW5X]7V9S?4M>&-W%[/;NL+?<N;Q_Z/5_4;^0(BU9
MQXHF/=HQ-$'L^P?\X>@?^66)_P!OU_\`DTO^</0/_++$_P"WZ_\`R:\?@>"4
M#P5?[G']XLOW@]@^SXG4>GYN_P"Q95.3Z<;_`$;&V;9^CO\`3<[;N5E<+_BR
M^GU/XT?DM7=*KE@(3,1K5,\)<40>[__2ZO\`QC_\@5?^&JO^_KSH<KT7_&/_
M`,@5?^&JO^_KSH<J_P`K_-?4M7/\_P!'O_JE]7.AY_U>P\K,PJK\BP/WV.$D
MQ98P3_9:M=WU.^K+A!Z=4/-LM/\`G-<UR%]1?_$K@?"S_P`^VK>57).8R3J1
M^8]?%GA&/#'0;#H\+]8/J`RNIV5T4D>F"Y^)87/W`>[]7L=NL]3_`(.SZ:X@
M$.`<.#JO<5XQU)M+>IYC:(]%N1:*XXV[W;85GELDI6):UU8<T!&B-+Z(?5M]
M'[/N/H^IZPK[>H6^D;?ZWI>Q02)`U.@"2L,+Z%_BWN:[I&33/NJR7$B.SVL(
M_(NN7FGU!ZLS!ZN_#N>&4]0`:R?],T_HF_\`7&.>W^OL7I2S^9C60_UM0V\)
MN`\-%TDDE"R*4+?YI_\`5/Y%-0M_FG_U3^1)3X=C_P!'J_J-_(%T'U-Z;A=3
MZR_%SJA?0,=SPPDCW!S&AWL+?S7+G\?^CU?U&_D"ZG_%Y_XHG_\`A5__`%=:
MT\Q(A(C31I8_GC?=Z_\`YD_5?_N`W_/L_P#2B7_,GZK_`/<!O^?9_P"E%N)+
M/]W)^_+[6WP1_='V-#IG0^E=)-IZ?CBCU]OJP7'=MG9_..=]'<KZ22:22;)L
M^*X`#0:/_]/J_P#&/_R!5_X:J_[^O.ARO1?\8VO0*H_[E5?]_7G4'P5_E?YK
MZEJY_G^CZ3]2^H8%'U9P:KLFFJQHLW,?8UKA-EAU:YRVCU?I($G-QX'_``K/
M_)+QHU,)DL!/B0"F]&O_`$;?\T(2Y6,I&7$=23MW2,Y``K84^C]?^O?3L;'L
MHZ5:,K-<"UCV#=56>-]MGT7;?S:V+SH3W,DZDGDGN4B6MY(:!XZ+2Z1]7.K]
M8<QV)268SB`[,L]M8:?SZMWOR?;]'TOT?_"*2$(8HG6N\I+)2ED/[`VOJ=TA
MW4^MUES0[%P_TV3NX,A[:*N'-=ZEGYC_`/!5V*AUGI%_1NHV8%VK1+\=\SOI
M)+:W_P!9G\W:W]]>I]%Z)A=%PQB8C3J=]MKC+['P&NL>?[/T?H,0^O?5_"ZY
MB"C)FNRL[J,AD;ZW?R9^E6__``M7^$4`YK]9?Z&W_H3+['HK]+?^Q\C^!((U
M!&A!'<+MN@?XP&UU-Q>N;BYL!F8QLAPX_6*V^YMC?](SZ:Y;JW1>I]&>&]1I
MV,<=M>2TS2\_R'_X-SO]%=^D5+S5B4(9(B]1T(88RE`Z:>!?7F?63H%C&O;U
M#'+7"0?4:/P*J9OUU^KF&#.6+W@QZ=`-CI_L^S_IKRO:TF2`3\$X'8#Y*(<I
M#K(ED^\2[!W.N_7#JO5WFNISL'#:X.KJJ<182WW,??<W]UPW^E7^C_?]1=A]
M6/K15UG".-D.#>J4U$WLC:'M'L^T5?R'2SU/]%8O.,3%R\Z_[-@TOR;^376`
M2!^]8X^RIG_&.7??5GZFCI0_:/4'"SJ(8\5UL,UTAP+3M=[?6M=7_./_`.V_
M](AGCBC"OE(^6OF5BE,RO<=;V?.,?^CU?U&_D"Z3ZBY6-B==?=E6LHJ^S/;O
ML<&MG<QVW<[\[1<YC@_9ZM/S&_D"F6SH1(\PK$X\43'NQ1-$'L^P?\X>A?\`
MEAC_`/;C?[TO^</0O_+#'_[<;_>O'O3'[H^Y/Z;?W1]RK_=(_O%E^\2[!]@_
MYP]"_P#+#'_[<;_>K&)GX6:USL.^O(:PP\UN#H)$P[:O%_3;^Z/N7>?XLV@8
M?4($?IV>7^#:H\O+QA`R!)I?CS&4@"`__]3TKJ72\#JF.,;J%+<BD.%@8Z8W
M-^B[VEO[RSO^9'U4_P#*ZK[W?^36XDI(>[7HXJ_J\5+)<%^KAOQ</_F1]5/_
M`"NJ^]W_`)-+_F1]5/\`RNJ^]W_DUN))WZ__`%G_`#D?JOZG_-<O%^K'U>Q"
M#1T[':YOT7.8'D?!UF]RTP(``T`X"=)1RX[]5_X2^/#^C7T4DDDFI8OK98QU
M=C0]CA#FN$@@]G-*PLGZC?5G(<7?8Q0XF2<=[JI_LU.:Q;Z2?#W/T.+_``5L
MN#]*OJ\K_P"-QT'_`$N5_P!NC_TFCT?4#ZM5&;*+,G3BZU[A_6V-<RO_`**Z
M-)2G[S_7^BP>S_5:^)@86#7Z6'17CU\;:VALQ^]M^E])'+0X$'4'0A.DH#=Z
MW;**K1PF_4?ZJ-`:.FU``0-7<#^VG_YD?53_`,KJOO=_Y-;B2E_7_P"L_P"<
MQ_JOZO\`S7#_`.9'U4_\KJOO=_Y-+_F1]5/_`"NJ^]W_`)-;B27Z_P#UG_.5
M^J_J?\UP_P#F1]5?_*VK[W?^35_IG1NF=)98SIV.W';:X.L#9U(&V?<7?FJZ
MDFR]VO5QU_6XJ3'V[]/#?A3_`/_9.$))300A``````!5`````0$````/`$$`
M9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`;P!P````$P!!`&0`;P!B`&4`(`!0
M`&@`;P!T`&\`<P!H`&\`<``@`$,`4P`S`````0`X0DE-!`8```````<`"```
M``$!`/_A#\]H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O`#P_>'!A8VME
M="!B96=I;CTB[[N_(B!I9#TB5S5-,$UP0V5H:4AZ<F53>DY48WIK8SED(C\^
M(#QX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z;65T82\B('@Z>&UP=&L]
M(D%D;V)E(%A-4"!#;W)E(#0N,2UC,#,V(#0V+C(W-C<R,"P@36]N($9E8B`Q
M.2`R,#`W(#(R.C0P.C`X("`@("`@("`B/B`\<F1F.E)$1B!X;6QN<SIR9&8]
M(FAT='`Z+R]W=W<N=S,N;W)G+S$Y.3DO,#(O,C(M<F1F+7-Y;G1A>"UN<R,B
M/B`\<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U=#TB(B!X;6QN<SID8STB:'1T
M<#HO+W!U<FPN;W)G+V1C+V5L96UE;G1S+S$N,2\B('AM;&YS.GAA<#TB:'1T
M<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(@>&UL;G,Z>&%P34T](FAT='`Z
M+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]M;2\B('AM;&YS.G-T4F5F/2)H='1P
M.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V52968C(B!X
M;6QN<SIP:&]T;W-H;W`](FAT='`Z+R]N<RYA9&]B92YC;VTO<&AO=&]S:&]P
M+S$N,"\B('AM;&YS.G1I9F8](FAT='`Z+R]N<RYA9&]B92YC;VTO=&EF9B\Q
M+C`O(B!X;6QN<SIE>&EF/2)H='1P.B\O;G,N861O8F4N8V]M+V5X:68O,2XP
M+R(@9&,Z9F]R;6%T/2)I;6%G92]J<&5G(B!X87`Z0W)E871O<E1O;VP](D%D
M;V)E(%!H;W1O<VAO<"!#4S,@5VEN9&]W<R(@>&%P.D-R96%T941A=&4](C(P
M,#DM,#4M,#94,C(Z,#,Z-#$M,#0Z,#`B('AA<#I-;V1I9GE$871E/2(R,#`Y
M+3`U+3`V5#(R.C`S.C0Q+3`T.C`P(B!X87`Z365T861A=&%$871E/2(R,#`Y
M+3`U+3`V5#(R.C`S.C0Q+3`T.C`P(B!X87!-33I$;V-U;65N=$E$/2)U=6ED
M.C$X-3DQ13(W04(S041%,3$X.3E!1#<P14,Y044Y-39%(B!X87!-33I);G-T
M86YC94E$/2)U=6ED.C$Y-3DQ13(W04(S041%,3$X.3E!1#<P14,Y044Y-39%
M(B!P:&]T;W-H;W`Z0V]L;W)-;V1E/2(S(B!P:&]T;W-H;W`Z24-#4')O9FEL
M93TB<U)'0B!)14,V,3DV-BTR+C$B('!H;W1O<VAO<#I(:7-T;W)Y/2(B('1I
M9F8Z3W)I96YT871I;VX](C$B('1I9F8Z6%)E<V]L=71I;VX](C,P,#`P,#`O
M,3`P,#`B('1I9F8Z65)E<V]L=71I;VX](C,P,#`P,#`O,3`P,#`B('1I9F8Z
M4F5S;VQU=&EO;E5N:70](C(B('1I9F8Z3F%T:79E1&EG97-T/2(R-38L,C4W
M+#(U."PR-3DL,C8R+#(W-"PR-S<L,C@T+#4S,"PU,S$L,C@R+#(X,RPR.38L
M,S`Q+#,Q."PS,3DL-3(Y+#4S,BPS,#8L,C<P+#(W,2PR-S(L,S`U+#,Q-2PS
M,S0S,CM!0S9#,#5&-T(V03<Y1#)&13@U0D%$-#`W-C!"1C4W1B(@97AI9CI0
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M,2PT,3DY,BPT,3DY,RPT,3DY-"PT,3DY-2PT,3DY-BPT,C`Q-BPP+#(L-"PU
M+#8L-RPX+#DL,3`L,3$L,3(L,3,L,30L,34L,38L,3<L,3@L,C`L,C(L,C,L
M,C0L,C4L,C8L,C<L,C@L,S`[-C)%,T0R0C`Y-#-!,S)!0D(P0D-!,D8R1D8X
M,$9!,4(B/B`\>&%P34TZ1&5R:79E9$9R;VT@<W12968Z:6YS=&%N8V5)1#TB
M=75I9#HR1D,W,4-&14%!,T%$13$Q.#DY040W,$5#.4%%.34V12(@<W12968Z
M9&]C=6UE;G1)1#TB=75I9#HR14,W,4-&14%!,T%$13$Q.#DY040W,$5#.4%%
M.34V12(O/B`\+W)D9CI$97-C<FEP=&EO;CX@/"]R9&8Z4D1&/B`\+W@Z>&UP
M;65T83X@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`\/WAP86-K970@96YD/2)W
M(C\^_^(,6$E#0U]04D]&24Q%``$!```,2$QI;F\"$```;6YT<E)'0B!865H@
M!\X``@`)``8`,0``86-S<$U31E0`````245#('-21T(```````````````$`
M`/;6``$`````TRU(4"`@````````````````````````````````````````
M```````````````````````18W!R=````5`````S9&5S8P```80```!L=W1P
M=````?`````48FMP=````@0````4<EA96@```A@````49UA96@```BP````4
M8EA96@```D`````49&UN9````E0```!P9&UD9````L0```"(=G5E9````TP`
M``"&=FEE=P```]0````D;'5M:0```_@````4;65A<P``!`P````D=&5C:```
M!#`````,<E120P``!#P```@,9U120P``!#P```@,8E120P``!#P```@,=&5X
M=`````!#;W!Y<FEG:'0@*&,I(#$Y.3@@2&5W;&5T="U086-K87)D($-O;7!A
M;GD``&1E<V,`````````$G-21T(@245#-C$Y-C8M,BXQ```````````````2
M<U)'0B!)14,V,3DV-BTR+C$`````````````````````````````````````
M`````````````````````````````%A96B````````#S40`!`````1;,6%E:
M(`````````````````````!865H@````````;Z(``#CU```#D%A96B``````
M``!BF0``MX4``!C:6%E:(````````"2@```/A```ML]D97-C`````````!9)
M14,@:'1T<#HO+W=W=RYI96,N8V@``````````````!9)14,@:'1T<#HO+W=W
M=RYI96,N8V@`````````````````````````````````````````````````
M````````````9&5S8P`````````N245#(#8Q.38V+3(N,2!$969A=6QT(%)'
M0B!C;VQO=7(@<W!A8V4@+2!S4D="```````````````N245#(#8Q.38V+3(N
M,2!$969A=6QT(%)'0B!C;VQO=7(@<W!A8V4@+2!S4D="````````````````
M`````````````&1E<V,`````````+%)E9F5R96YC92!6:65W:6YG($-O;F1I
M=&EO;B!I;B!)14,V,3DV-BTR+C$``````````````"Q2969E<F5N8V4@5FEE
M=VEN9R!#;VYD:71I;VX@:6X@245#-C$Y-C8M,BXQ````````````````````
M``````````````!V:65W```````3I/X`%%\N`!#/%``#[<P`!!,+``-<G@``
M``%865H@``````!,"58`4````%<?YVUE87,``````````0``````````````
M``````````*/`````G-I9R``````0U)4(&-U<G8````````$``````4`"@`/
M`!0`&0`>`",`*``M`#(`-P`[`$``10!*`$\`5`!9`%X`8P!H`&T`<@!W`'P`
M@0"&`(L`D`"5`)H`GP"D`*D`K@"R`+<`O`#!`,8`RP#0`-4`VP#@`.4`ZP#P
M`/8`^P$!`0<!#0$3`1D!'P$E`2L!,@$X`3X!10%,`5(!60%@`6<!;@%U`7P!
M@P&+`9(!F@&A`:D!L0&Y`<$!R0'1`=D!X0'I`?(!^@(#`@P"%`(=`B8"+P(X
M`D$"2P)4`ET"9P)Q`GH"A`*.`I@"H@*L`K8"P0++`M4"X`+K`O4#``,+`Q8#
M(0,M`S@#0P-/`UH#9@-R`WX#B@.6`Z(#K@.Z`\<#TP/@`^P#^00&!!,$(`0M
M!#L$2`15!&,$<01^!(P$F@2H!+8$Q`33!.$$\`3^!0T%'`4K!3H%2058!6<%
M=P6&!98%I@6U!<4%U07E!?8&!@86!B<&-P9(!ED&:@9[!HP&G0:O!L`&T0;C
M!O4'!P<9!RL'/0=/!V$'=`>&!YD'K`>_!]('Y0?X"`L('P@R"$8(6@AN"(((
ME@BJ"+X(T@CG"/L)$`DE"3H)3PED"7D)CPFD";H)SPGE"?L*$0HG"CT*5`IJ
M"H$*F`JN"L4*W`KS"PL+(@LY"U$+:0N`"Y@+L`O("^$+^0P2#"H,0PQ<#'4,
MC@RG#,`,V0SS#0T-)@U`#5H-=`V.#:D-PPW>#?@.$PXN#DD.9`Y_#IL.M@[2
M#NX/"0\E#T$/7@]Z#Y8/LP_/#^P0"1`F$$,081!^$)L0N1#7$/41$Q$Q$4\1
M;1&,$:H1R1'H$@<2)A)%$F02A!*C$L,2XQ,#$R,30Q-C$X,3I!/%$^44!A0G
M%$D4:A2+%*T4SA3P%1(5-!56%7@5FQ6]%>`6`Q8F%DD6;!:/%K(6UA;Z%QT7
M01=E%XD7KA?2%_<8&QA`&&48BABO&-48^AD@&449:QF1&;<9W1H$&BH:41IW
M&IX:Q1KL&Q0;.QMC&XH;LAO:'`(<*AQ2''L<HQS,'/4='AU''7`=F1W#'>P>
M%AY`'FH>E!Z^'ND?$Q\^'VD?E!^_'^H@%2!!(&P@F"#$(/`A'"%((74AH2'.
M(?LB)R)5(H(BKR+=(PHC."-F(Y0CPB/P)!\D321\)*LDVB4))3@E:"67)<<E
M]R8G)E<FAR:W)N@G&"=))WHGJR?<*`TH/RAQ**(HU"D&*3@I:RF=*=`J`BHU
M*F@JFRK/*P(K-BMI*YTKT2P%+#DL;BRB+-<M#"U!+78MJRWA+A8N3"Z"+K<N
M[B\D+UHOD2_'+_XP-3!L,*0PVS$2,4HQ@C&Z,?(R*C)C,ILRU#,-,T8S?S.X
M,_$T*S1E-)XTV#43-4TUAS7"-?TV-S9R-JXVZ3<D-V`WG#?7.!0X4#B,.,@Y
M!3E".7\YO#GY.C8Z=#JR.N\[+3MK.ZH[Z#PG/&4\I#SC/2(]83VA/>`^(#Y@
M/J`^X#\A/V$_HC_B0"-`9$"F0.=!*4%J0:Q![D(P0G)"M4+W0SI#?4/`1`-$
M1T2*1,Y%$D5519I%WD8B1F=&JT;P1S5'>T?`2`5(2TB12-=)'4EC2:E)\$HW
M2GU*Q$L,2U-+FDOB3"I,<DRZ30)-2DV33=Q.)4YN3K=/`$])3Y-/W5`G4'%0
MNU$&45!1FU'F4C%2?%+'4Q-37U.J4_940E2/5-M5*%5U5<)6#U9<5JE6]U=$
M5Y)7X%@O6'U8RUD:66E9N%H'6E9:IEKU6T5;E5OE7#5<AES672==>%W)7AI>
M;%Z]7P]?85^S8`5@5V"J8/QA3V&B8?5B26*<8O!C0V.78^MD0&249.EE/662
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M-H^>D`:0;I#6D3^1J)(1DGJ2XY--D[:4()2*E/257Y7)EC26GY<*EW67X)A,
MF+B9))F0F?R::)K5FT*;KYP<G(F<]YUDG=*>0)ZNGQV?BY_ZH&F@V*%'H;:B
M)J*6HP:C=J/FI%:DQZ4XI:FF&J:+IOVG;J?@J%*HQ*DWJ:FJ'*J/JP*K=:OI
MK%RLT*U$K;BN+:ZAKQ:OB[``L'6PZK%@L=:R2[+"LSBSKK0EM)RU$[6*M@&V
M>;;PMVBWX+A9N-&Y2KG"NCNZM;LNNZ>\(;R;O16]C[X*OH2^_[]ZO_7`<,#L
MP6?!X\)?PMO#6,/4Q%'$SL5+Q<C&1L;#QT''O\@]R+S).LFYRCC*M\LVR[;,
M-<RUS37-M<XVSK;/-\^XT#G0NM$\T;[2/]+!TT33QM1)U,O53M71UE76V-=<
MU^#89-CHV6S9\=IVVOO;@-P%W(K=$-V6WAS>HM\IWZ_@-N"]X43AS.)3XMOC
M8^/KY'/D_.6$Y@WFEN<?YZGH,NB\Z4;IT.I;ZN7K<.O[[(;M$>V<[BCNM.]`
M[\SP6/#E\7+Q__*,\QGSI_0T],+U4/7>]FWV^_>*^!GXJ/DX^<?Z5_KG^W?\
M!_R8_2G]NOY+_MS_;?___^X`#D%D;V)E`&1``````?_;`(0``0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0("`@("`@("`@("
M`P,#`P,#`P,#`P$!`0$!`0$!`0$!`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#_\``$0@`7`"C`P$1``(1
M`0,1`?_=``0`%?_$`:(````&`@,!``````````````<(!@4$"0,*`@$`"P$`
M``8#`0$!````````````!@4$`P<""`$)``H+$``"`0,$`0,#`@,#`P(&"74!
M`@,$$042!B$'$R(`"#$403(C%0E10A9A)#,74G&!&&*1)4.AL?`F-'(*&<'1
M-2?A4S:"\9*B1%1S148W1V,H5597&K+"TN+R9(-TDX1EH[/#T^,I.&;S=2HY
M.DA)2EA96F=H:6IV=WAY>H6&AXB)BI25EI>8F9JDI::GJ*FJM+6VM[BYNL3%
MQL?(R<K4U=;7V-G:Y.7FY^CIZO3U]O?X^?H1``(!`P($!`,%!`0$!@8%;0$"
M`Q$$(1(%,08`(A-!40<R811Q"$*!(Y$54J%B%C,)L23!T4-R\!?A@C0EDE,8
M8T3QHK(F-1E4-D5D)PIS@Y-&=,+2XO)59756-X2%H[/#T^/S*1J4I+3$U.3T
ME:6UQ=7E]2A'5V8X=H:6IK;&UN;V9W>'EZ>WQ]?G]TA8:'B(F*BXR-CH^#E)
M66EYB9FIN<G9Z?DJ.DI::GJ*FJJZRMKJ^O_:``P#`0`"$0,1`#\`W^/?NO=>
M]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[K
MW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7__0W'/G
MW\S<=\$>AX^\\GU_D>S*1]];7V1_=K%[@H]M5*R[F7(LF2_B5;C<I`8J/^''
M5'XM3Z^&%O8MY)Y3DYTWL;/%?+;MX+R:RI<=E,4!'&O&O0?YEWY.7-M&XO:F
M8>(J:0P7XJYJ0>%.J7_^@EK9O_>'^\__`$;^W/\`["_<O_\``^7/_361?\X'
M_P"MG0!_UV(/^C(__.4?]`=>_P"@EK9O_>'^\_\`T;^W/_L+]^_X'RY_Z:R+
M_G`__6SKW^NQ!_T9'_YRC_H#I;X+_A2+T+54]`^Y?CGV_A*J:8+DX,3N#9FX
M(:*G%2R--25-158!LC**.TGC:.G!D/CU6&LETWL#O:M(+??K5TIVEED6IIP(
MHU,XQJ]?ETIC]UMMHAFVJ=3YT*M3[.%?V#[>CN]&_P`ZOX#]XY[!;5A[#W%U
M=N?<=;28[%8GM_:\VU:2;(UTPIJ6AEW505F>V12SU%0RHGER:!F<`'ZV!^\^
MTG.NS0S7/T,=S;Q@DF!PYH.)T$+(0!G"<.A!MWN!RUN,D<(N6AF<@`2KIR>`
MU"J@_:W5L<<B3(LD;))'(B.DD;ADD1P&5D9;JZ,IN""01[C0@Y'`]#7K+[]U
M[KWOW7ND=OK?FS.L=H;AW_V'N?"[,V7M3&SYC<6Z-QY"GQF%P^-IEO)5UM;5
M,D4:EB%1>7DD940,[`%^RL[O<KJ"QL+9YKN5@J(@U,Q/"@'^H<3CIBYN;>S@
MDN;J98[=!5F8T`'S)ZHW[P_X4+?$KK[)5F&ZBV5V1WQ4T,RQ-G,=#1;`V36_
MNJDYQ>:W.LVX:WP*&(?^#I32^GQ2NK:EF39O8KF>^1)=TN[>R5A\)K)(/34J
M445_YJ5'F!PZCS</<_9+9VCL;>6YH?B%$3\BW<?]YH?(GHA>:_X4F=QODIVV
M[\6^LX,.Q7[2'.=B;HJ,H!I]?W,^/P$%(Y+?30@X^OL<1?=]VH(OC\QW!F\]
M,2`?E5J]!J3W7O\`6?"V>$1^57:O\A3I]V;_`,*3M_0UKGL3XJ;5KL>2OB38
M_9F5Q]<!HEU"23<&V:VF<F5DM8#TAK\V(37OW?;(H#9<S2J_GXD((_+2X/"O
M\NG8/=BY#?XULJ%/Z$A!_P"-*>K/_C?_`#Q?A1W]N#;VR<UDMX=);XW)DJ+"
M8K'=H8FEI]M9',9&9*:AHJ+?&"K\M@J;[NJG2&-LF<:7F;2JD68QUOWLYS=L
MD$]Y#'%>6<:EF,+$N%`J28V"L:#)T:\="_:?</E_<Y8K=W>WN'(`$@&DD\`'
M!(R<#5ISU<:KJRAU(9&LRLMBK*0&5E(N&!!O<>XJZ'?5/7R-_G9?%+XQ=W=@
M]"[_`-D=]Y/>'6V1Q>,SN0VEM/8F0V[4SY;;N&W/3/BZS*]DX3(SQ)09R%',
MM+"1*K@`J`S2IL'L_P`S<Q;-8;W8W=DMI<*2H=Y`X"LR&H$3`94\&.*=`;=?
M<#9=HW"YVVYM[DSQ$`E50J:J&P3(#P;T&>@5_P"@BKX1?\^X^3W_`*!/6W_V
MX/9Q_K#\X?\`*=M__.23_K3T@_UT^7_^46[_`-XC_P"MG7O^@BKX1?\`/N/D
M]_Z!/6W_`-N#W[_6'YP_Y3MO_P"<DG_6GKW^NGR__P`HMW_O$?\`ULZ]_P!!
M%7PB_P"?<?)[_P!`GK;_`.W![]_K#\X?\IVW_P#.23_K3U[_`%T^7_\`E%N_
M]XC_`.MG7O\`H(J^$7_/N/D]_P"@3UM_]N#W[_6'YP_Y3MO_`.<DG_6GKW^N
MGR__`,HMW_O$?_6SJTSX@_+7K?YJ=/Q=U]58C>>$VI+N;/;36AWYC<-B<\N1
MV\]+'6S-1X+<&Y*#[.1JI?$WW.M@#=5_,:\T\L;ARENG[IW*6%[CPU>L99EH
MU:995-<9Q^?0PV/>[7?[$7]E'(L.LK1P`:K2N`6%,^O1I_8=Z..O_]'8P_X4
M(?\`9`$/_B>NJO\`H3<ON8_8S_E=V_YXIO\`GSJ/?<W_`)5G_J(C_P"?NM(W
MWE_UCWT;_J7X`_,GO?K6F[AZ=Z"W7V%UQ75.9HZ+<>!RFSV^\JL!D)\/F*>D
MP5;N>CW+53461I9(2L=$Q=D)34O)"FZ\\<J;+N#[3NN]Q07X"DHRR8##4I+!
M"@J"#\0^?1Y8\L[]N5HM_9;:\MH20&!7.DT."VK!!'#H/.X?BM\DOC]1463[
MLZ,[-ZSQ.2?Q46:W3M7)4>!GG`9C3#.PQ3XB.K5%+&%YED"^HK8@E=M7,O+V
M]N\6T;S;W$J\51P6IZZ3W4^P4_9TFOMFW;;%5K_;IHHVX%E-/V\/R)KT`#*K
M#2RAE8:64@E2I^HM].?9[T6<>K]_Y,?\R_='2?:V"^-'=N[]R;CZ6[1K\'M3
MKBHS=?4YG_1/O^MJZ;$[?H<=49&I>HQNP=RK*M'/1QEH**L$$T*1J]3KA#W:
M]O;7==MGYAVBU2/=[<,\H4!?&C`+.2`*&1.(8Y9:@DT6DE<@\V2[?>Q;3N$[
MO8S,%0DU\-SA0"3A&X$<`:$#CUNC>\3.I\Z+?\IOE%U5\/\`IS/]U]P966@V
M[B9H,5B<901?<YW=VZ\A#52X;:6W:+T"LS.4%'*PU,D4$$,L\K)%%(RG?+G+
MNY\T[K%M&U1!IV&IB<*B"FIW/DJU'S)(`!)`Z*]ZWBRV.PEW&]<B)<`#)9CP
M51ZFGY`$G`/6A3\U/GEWK\X.PLINCL;/9/"[!6O2HV1TSC,S53;'V/20T]-3
MPF.F"4D.<S]0U/YJG(U,1E>9V$0BB"QC-GD_DG9>3K"*VL(5>^TTDG*TDD-:
M_/2@X*@-*<:FIZQLW_F3<N8;IYKJ1EMJ]D0)T(.'#\38J6(X\*#'1)R2`=1%
MA<W/I``'JN?P/8O`)X=$%<4Z%OK7H3O7N6FKZWJ'I?MCM&DQ*T392MZ]Z[W=
MO&CH!DC6"@-75X#$5]/`M::"<1$L`_A>U]+6*;_?=GVIXTW3=K:V9B:"65$)
MI2M`S`XJ*_:.EMIMVXWX9K+;YY@*5T(S`5K3*@\:'S\CTEM^==]A=69VIVQV
M=L3>?7.XZ(T@J\'OK:V<VGE:9LA2P5U")Z'.T-#4HU91U,4L0*W>.166X(]J
M;&_LMTA6XVZ^AGA-:-&ZNIH2#E2>!%#GC6O35Q:W%G(T5Y;212BE5=64Y`(P
M0.(-1\ND=8$?X"]OK^?]L?:VOGY])^MB?^1E\T?E12=Q8?XL4>W]R]V]%Y"F
M>MR(J\@9*SX]XY)$A_O=0YW*.\46R)IPL$F">1?)/(),>%E$T-1`OO'RERVV
MU3<R-/'9[RIH*#%TW\!49\0#(DIPQ)BA64O;O?\`>$OH]G6%[C;F%3G^Q'\0
M)_!Y:*\<J*U!K[_F]?\`;R?Y7_\`AV[*_P!?_F477?\`O']/8Z]JO^G?<N?\
MTI/^K\O08YXK_6O>?].O_5M.JWD#LRHBN[LRHD:(S/(SD*BQJMV=G8@*H!+$
MV'N02:5S_J_U?LZ"?3]_=;=?_/);L_\`07SW_P!;O:?ZBU_Y2XO][7_/T]X,
M_P#RCO\`[R?\W7O[K;K_`.>2W9_Z#&=_^M_O7U-K_P`I47^]K_GZ]X$_^^'_
M`-Y/^;KW]UMU_P#/);L_]!C._P#UO]^^IM?^4J+_`'M?\_7O`G_WP_\`O)_S
M=;MG\@FBKL?\`Z*GR-!78VJ_TR]GO]MDJ*JQ]1H:?#:)/MZR*&81OIX;38_C
MWA_[V2))SL[1.K+])#D$$?B\QUD#[:JR<LJ'0J?J).((/EZ]78^XDZD#K__2
MV,/^%"'_`&0!#_XGKJK_`*$W+[F/V,_Y7=O^>*;_`)\ZCWW-_P"59_ZB(_\`
MG[K2-]Y?]8]];U?\AK_MV_UI_P")![H_]^;N/WAG[T?\K]N'_-"#_JTO617M
MO_RJEI_S5E_ZN-U;AN/;>W]X8'+;7W9@\5N3;6=H9\7F\!G<=2Y7#Y;'52&.
MHHLCC:Z.>DK*29#9DD1@?<6P7$]K-'/;3-'.AJK*2&4C@010@]#B:&*XBDAG
MC5XF%"K"H(/D0<'KY^W\TWXK[7^(7S&WUUOL%HXNO=Q8S#]C['PP::23:V&W
M5]V*C:S23`F2DPF7H:E*-BSM]DT*N2ZL3G'[:<RW/-/*MGN%]4WT;-%(V.]D
MIWX\V4@M_2K3CUC-SELT&Q[[<VEJ!]*P#H/X0WX?L!!I\J=5V"::E9:FFFFI
MJBF9:BGJ:>66"HIZB!A+!/3SQ,LD,\$J!D="'1@"I!`]CIE#=K`%#@@^8^SS
MK^SUZ"P)&0U#U]/OJO-5VX^L.N-PY21)<GGMA;/S.0EC71')6Y3;V.KJJ14)
M;0KU$[$"YL/?.K<XDMMQOX(_@2=U'V!B!_(=9>V<C2V=I*Y[VB4G[2H)ZT=_
MYQWS6W#\I/E%NKK_``N>JWZ0Z&SV4V1LS!034O\`",MN[$.^*WKON9J0G^(S
M9+)024M&T[/]K14X$:QO-/KS%]J.4+?EWEVVOIK<?OB]C$DC$'4J-F.//P@"
MA:@[F.20%ICUSWS!-N^\3VL<A_=]LQ1!Y%AAWQQ)(H*\`,4J:U$2.$5GD)"J
MNMB`6("@L>%!8_X``DGW*0K44X]`>M*?ZOGUMV?RM?Y+_7VW=D[7^0/R]VG0
M[Y[!W11T^XMD]29P)6;/V)@<E2I+B:S>6&'DH]S[SJZ9A5"&=GH\:LXC:%ZJ
M+RQXM^Y'NY?SWMQL?*UT8;*(E))UJ))&!HPC;!2,'MJ`&>A.H*:&;^3^0K6*
M"'<]\@$ERXU)&<JBGAK'!GIFG!:TH2*C8[PV%Q&W<;1X3`8C&X/#8^'[?'XC
M#4-+C,700`EA!1T%%%!34T(=B0J(JW)/Y]P#++-/(\T\C/,QJ68DDGYDU)_,
M]2HD<<2".-`J#@`*`?D,=,&^.NMA]FX*KVOV+LS:^^=N5]/4TM9A-V8+&9_&
MS05<+4]0AI,G35,"&6(V+*`W]"+>U%G?WNWS)<V%Y)#.I!#(Q4XR,@@]-W-K
M:WD;0W5NDD9!%&4,,\>(ZUN/Y@?\ABEW'74O8WP2QF!VQ4R-CZ'<O1>7S4N.
MP%4TE5'33;FV5N3/5]13X62CI'$E5BZAUIY5B>2G=96$,D_<C^];VT9L.=)9
M)%R4N%6K#ST2*H!8$X5QD5`8$9$4<S>VPE877+BJAP&A)H./Q(S'%!DJ<'-#
M7!N`_EX_!#9/P0Z2HMB8Y\;N/L[<1AR_;78U+23T[;KW"H<04>+BK'DJ\?M7
M`P2>"@I2W`US2`S32,8KYYYSN^=-W:]<-'MT?;!$:=B>K4P7;BS?8!@#H<\K
M\N6_+FWK;J0]XV9''XF^5>"KP4?GQ)ZTX_YO7_;RCY7?^';LG_WT77GO+#VJ
M_P"5`Y9_YIR?]7Y>H*YZ_P"5KWC_`$R?]6TZ)'TX+=R=-D<'_3!U801]01O[
M;Q!`_J#[&&Z_\DC>/^>2;_JVW0<L?]SK#_FO'_Q]>OI[>^=G67O7O?NO=>]^
MZ]U[W[KW7O?NO=?_T]C#_A0A_P!D`0_^)ZZJ_P"A-R^YC]C/^5W;_GBF_P"?
M.H]]S?\`E6?^HB/_`)^ZTC?>7_6/?6]7_(;!'\M_K,D$`]@=T%3:P8#LW<:D
MC_`,"/\`7'O#/WH_Y7W</^:$'_5I>LB_;?\`Y52S_P":LO\`U<;JR?N'Y#='
M?'[;U5NCNGM;8_6^'I8WD\NY\_14-?6-'&)VIL3A?*^:SE=X?6M/1T\\[+R$
M(N?<>[5L>\;Y<+;;1MLUQ*?X%)`^;-\*CYL0/GT++_=-NVR(S7]['$@_B8`G
M[!Q)^0!/7S_?Y@7RLJ_F5\J.Q^YHON(=G2U46U>K\=644%#7X[KG;ADI\"V2
MCAC5SDLQ/-/D)A*6E@-6("2(KG-_D7EQ>4^6]OVE@#=@:YB#4&5LM2ODHHHI
M@Z=7GUC1S-O+;]O-W?BO@5TQ@\0B\,>IRQKZT\N@F^,_QZWU\IN\-@=([`Q6
M0R&2WEG:*ES%?14DDT&U=IQU4']Y]W968120T>.P.*:27R2^AIO'&+M(H)GS
M%OMCRWM%[O-[(H2%"5!--;_@09%2S4&,TJ>`Z0[1MESO.X6VWVR$O(PJ1^%<
M:F/D`!Q_(=?0+^7?<NW_`(D_$#MSLTS-10=;]8UF*V93@R5,]5NJJQT>U]@8
MQ?-]Q/.*G<=91I-(PE,<'DF<,J-[P<Y7VF?F?FK;-MTZFN+D&0\`$!UR'%`*
M(&H,9H!Q'63.^7\6R['?7=:"*$A//N(TH/\`>B*^@SU\W^26>IDDJ*R>2IJZ
MF2>IJZJ5B\]75U,AGJ:F=[^N:IG=G<_EF)]Y_JH0*B`!`*`>@`P/R\OEUBH2
M22:U8\?\_5JG\F?X[8;Y$?.C8D&[,'!N#8_4>&RG;^XL?61M+0U&1VY-1TFR
M(:^`@Q55&-WU]-4-#*?#,*;1(KHS(T:>[6^R['R;=M:S&.\NG6!2.(#5,E#Y
M'0"*C(U8H:$#/D+:X]UYAMEG0-;P*96!X56@2ORU$'YTSUOQJ```+``"P`L`
M/Q8?@>\*.LD^N_?NO=>]^Z]U[W[KW7O?NO=?/E_F]?\`;RCY7?\`AV[)_P#?
M1=>>\X_:K_E0.6?^:<G_`%?EZQEYZ_Y6O>/],G_5M.B0=/L!W%TZ6(55[?ZM
M9F8@*JKO[;Q9F)/I51R2>`/8QW@G]T;N/+Z:;_JVW0=V\E;^P/\`P^/_`(^O
M7TXO[P8'_G=XC_SY47_7[WSP\"?_`'R_[#UESXD?\8_;U[^\&!_YW>(_\^5%
M_P!?O?O`G_WR_P"P]>\2/^,?MZY1YO#32)%%E\9++(P2.**OI9))&/T1464E
MV/\`0"_O1BE45,3`?8>O"2,T`<5^WIU]M]7Z][]U[K__U-C#_A0A_P!D`0_^
M)ZZJ_P"A-R^YC]C/^5W;_GBF_P"?.H]]S?\`E6?^HB/_`)^ZTC?>7_6/?0@;
M=[=[>V?BX<)L[MSM79^"ADGF@P>T^R-Z;9PL$U5(U15308G"9JBH(9JNI=I)
M76,-([%F)))]HKC:-JNY3-=;7;2S$`%GBC=B!@=S*3@8&<=*XKZ^@01V]]-'
M&/)9'49XX!`STDL]G,[NK+U>X=U9W.;IW#7B$Y#/[FR^1W!GJ\TU/#24QKLQ
MF*FLR-8U/24\<,?DE;QQ1JBV50`JA@M[:)8+:%(X%K144*HJ:FBJ`!4Y...>
M/2>666:5I9G9Y3Q9B23Y9)J3@`9\L<.FSW?JG5SO\IK^9#TC\%LMNW#]H=(S
M5D78LN-ILYW?LBHK\MOK'XO'35<^/PN8VMF<I_"ZC;5!4U;26PYHIW8ZYH:I
MT1A$?N=[?[QSE%;2[9O`4P`E;>0!8RQH"RNHKK('^B:AY*5!(Z'W)?->W\O/
M,EYMY/BD!ID)+@9H"I--(K^"A]0<=78_SI^Z=D]K?RO9^P>GM^8/>6Q=^=G]
M14<&=V]5PUE'DL;4YILA-C:A''W./KX)::(U%+,D-73/&4E1&#+[B'VBVB\V
MSW&6QW6S>*\AMYSI8$$$+2H\B.-"*J1D$XZ'_/\`N%M>\GFZL+E7MI9HNY36
MHK6GR.,@T(\^M+'WEUU`76T!_P`)J]JX.IW#\NM\3T:ON7#8CIS:>/R%RII\
M#N2K[$S&8HM/T*UF1VK0R$_CP_XGWCK]X2YF2'E>T5_\7=IW(]601*I_(.P_
M/J7_`&FAC,N]W!7]95B4'Y,7)'[5'[.MKKWC/U,_7O?NO=>]^Z]U[W[KW7O?
MNO=?/E_F]?\`;RCY7?\`AV[)_P#?1=>>\X_:K_E0.6?^:<G_`%?EZQEYZ_Y6
MO>/],G_5M.JW0/K?\_@_2Q_%OI['_03ZX^"#_CE%_P!2T_XI[M7^D?\`5^?6
MNO>&'_CC%_U+3_BGOVMO7KW1Q?Y>442_.WXC%8HP1WSL*Q"`,+Y*QL;<_7V$
M^?*GDSF<G5_N%+_@Z/N5O^5DV/\`YZ4_P]?1Y]X#]94]>]^Z]U__U=C#_A0A
M_P!D`0_^)ZZJ_P"A-R^YC]C/^5W;_GBF_P"?.H]]S?\`E6?^HB/_`)^ZTC?>
M7_6/?6S?_+`_E(_$CY??#_9G=W;L7:!WSGMU=C87(MM;?]1M_#&EVMO3,8+%
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M[>M=?\_1E-R"K*4966ZE6C;2RLI2Q!`(/U]SR.`S7J+>A0P_;V]\+T_OGHNF
MKX*CK;?N[-G;]R>%JZ?[AL;O#91R,>,S^WI6D_W"U^0H,O-1Y!HQ:MIO&L@)
MC0J7R[593;M9;T5(W"")XPP--4<E*JP_$%*AE_A-2.)JMCOIX[&XVX-_BLKJ
MY!\G2H#+Z$@D-ZCCY=!E[,>D?6SK_P`)KMVTU/O+Y9;$8TWWF9VUU-NZ(//I
MJS3;8R>]\+4^*ET_N4PEW9%Y)+C0^@6.KC';[P=JS6O+%\*Z$DF3ABKB-N/K
MV&@^WJ7?:>8"?>[<_$RQM_O)<?\`/PZVQ?>,W4T]>]^Z]U[W[KW7O?NO=>]^
MZ]U\^7^;U_V\H^5W_AV[)_\`?1=>>\X_:K_E0.6?^:<G_5^7K&7GK_E:]X_T
MR?\`5M.B$["P=+NC?VPMK5[3Q4&ZM][+VO7RTK`545!N+<^*PM;+2NZND=3%
M2USM&2"`X!(/T]C7<)WMK*_GB'?%!(XKPJB,P!^1('\^@U;1B6YM8&KI>55/
MV,P!_D<?/K<5/_"=7X8W)'87?H%^!_>K;9L/P+_W2N0/>*O^OSS5_P!&^S_W
MA_\`H/J=O]:[8/\`E)N?]Z7_`*!Z]_T#J?#+_GX??O\`Z%6V_P#[%/?O]?GF
MK_HWV?\`O#_]!]>_UKM@_P"4FY_WI?\`H'H2NFOY%/Q0Z/[9ZZ[BVOO?NJMW
M+UGN[$[RP5)F=RX"HQ%3D\-.9Z2'(T]/MJFGGI'?]:K(I(^A'LMW?WGYGWC:
M[_:9[2T6"XB9&*HU:-QIW\>E>W^W>R[=>VM]#<7!EA<.*LM*CU[>'5V/N(^A
M]U[W[KW7_];8P_X4(?\`9`$/_B>NJO\`H3<ON8_8S_E=V_YXIO\`GSJ/?<W_
M`)5G_J(C_P"?NM(WWE_UCWUO5_R&_P#MV_UI_P")![H_]^;N/WAG[T_\K_N?
M_-&#_JTO617MM_RJEI_S5E_ZN-U<?[BGH>=>]^Z]U\Y[^9%U_MOK#YU_*#9V
MT::.AV]2=IY3,T&/IN(,>VZJ2AW57T-,I@IRE/39',S(BV;2H`UO^LYY^WM]
M<;CR7RY>7)+3FV"DGB=!*`G)R0H)/KY#AUBUS9:Q6?,>\6\`I$)B0/34`Q'Y
M$]$F]B_H/=>]^Z]0^G5KG\E[Y#T7Q^^=>PX<]6T^/VCW3BLATWN"MJZR"AI*
M&MSTU-E-G5U74U)6'P-NS%4M)I)7U5H:X"D&,_=W8GWSDN]:!"UU:,)U`!)(
M6JR``>>ABW^UZ&G(.Z#:^8[;Q&`@N%,3$F@!:A4_[T`/SZWW`P/T^A^A_!_U
MOZ^\*>LDNN7OW7NO>_=>Z][]U[KJXN!^3[]U[KY\W\WK_MY1\KO_``[=D_\`
MOHNO/><?M5_RH'+/_-.3_J_+UC+SU_RM>\?Z9/\`JVG1(^G_`/F<73?_`(E_
MJS_WOMN^Q?O'_)'W7_GFF_ZMMT'+'_<^P_YKQ_\`'UZ^GM[YV]9>]>]^Z]U[
MW[KW7O?NO=>]^Z]U_]?8P_X4(?\`9`$/_B>NJO\`H3<ON8_8S_E=V_YXIO\`
MGSJ/?<W_`)5G_J(C_P"?NM(WWE_UCWUO5_R&Q;^6_P!9<?J[`[H(_P`1_I.W
M(+_X\CWAG[T?\K]N'_-"#_JTO617MO\`\JI:?\U9?^KC=7'^XIZ'G13OEE\R
MNB?AMUYE=\=P;TPV,R:XC)5FSM@1Y*D_OKV%E:2DJ9:'![6P9D-94/D*R$0-
M5NBT=*S:II44$^Q%RSREO/-E]'9[7:,T6H"20@^'$I(JSMP%!FGQ'R!/1-O6
M_P"W;%:O<7TZA])*I7O<^04?,XKP'F>OG?\`<O:>X>\.V^S.X]UQQ0[B[0WO
MN'>^6I:=WEI:&IS^1GKEQU([1QEJ7'4\B01G2H*1CTCZ#/#9]MMMGVG;]IMB
M3;V\*QJ3Q(44K]I.3\SUB[N%Y)N%]=W\M/%FD9R!P!8UH/LX=*WXQ=';F^27
MR`ZEZ4VM05-=7[]WO@<5DY*>EGKH\-M1<C33;PW)D(*>>DJ/X-MW;BU-75O'
M(DB01,5.K3[2<Q;U;[!L>Z;O=,%2&%B*D#4]"(T'$:G:BC'$YZ?V?;IMVW.Q
MV^!26DD4'!PM>YC3R502?EPZ%W^8'\4LQ\._E+V3U0^%RV.V'+FZ_<G3^3R1
MGJH<[UKEJC[K"?:Y>1?'EJO;XG_A]:0QEBJ(/W0"ZEBKD7FB+FKES;]S696O
M@@6<#&F48:J_A#?&OD0<5IA=S/LLFQ;Q=V9C86Q8M&3FJ'X<^9'PGSJ,\1T2
MAE##ZD$VLZL592"2K(RV*NK\@CD$`^QAT'^MO#^67_.SV+N_;>WNC?F'N''[
M#W[M[%T>'VMW+F*KP[3W_24$0IJ:DW=5>'P[8W=!20IKJZAQ1Y$W8O%-=9<6
M/<3V?O+2YN=XY5@::R=RSP+\<1.:H.+I4X`%5&*%>$W\H^X-M/#'MV^RB*Y5
M0%E;X7`P-1_"WS.&^1QUL:X3.X7<V(Q^?VWF,7N#`Y>EBKL5F\'D*7+8C*44
MZAH:S'9*@FGHZVDE4W62)V1A]#[@:>&:!Y(+B!DF4T96!5@?,$&A!^WJ5(Y(
MYD66*0-&PJ""""/4$8/4?<FZ-M;,PM9N/>&XL%M3;^.C\F0SNY,OCL#AJ"+Z
M>6LRF4J*6BI8S;ZNZCW:WM[B\F6"SMWEN&X*BEF/V``D_D.M330V\9EGF5(A
MQ9B`!]I-!U0%\]_Y[W5_4<.6ZV^(IPW<G9,M#5TM7V>TIJ.J]B9+RQTZ"C"J
MLG8>:IE$KF.G>+&P2+&))YB9(5F_DKV8W+=#%N'-`>TV_4"(>$THI7_FTIQD
M@N16BC!ZC/F3W'L[(/9['IN+NF9/]#0^5/XSQX=H-*DY'0H?R??YH$_RXVE6
M]-]^[HP4?R/V7IEQF4JGQ&!K>Z-LRK43R9W&X'&X[$86+<6W-/AR%'01KK@"
M520JGE*EGNK[<KRM=)NNQVSG8)>([F%N^!I+$EM+\59CQJI)-*K>1N<#O<+;
M?N<RC=8^!P/%7C4*`!J7@P'VT&::V7\WG_MY/\KR?^>NV5_O'4?7G_$>\@_:
MK_E0.6?^:<G_`%?EZBCGG_E:]Y_TZ?\`5I.B1]/G_C,73?Y_XR_U9?ZVXW]M
M_P"G]?I[&&[,3M&[CTM9O^K3=!VQ_P!S["G'ZB/_`(^O7T]_?.SK+SKWOW7N
MO>_=>Z][]U[KWOW7NO_0V,/^%"'_`&0!#_XGKJK_`*$W+[F/V,_Y7=O^>*;_
M`)\ZCWW-_P"59_ZB(_\`G[K2-]Y?]8]]"]L[Y!]_==X*#:_7O>W<^P]L4L]5
M4TNV]E=I[[VI@*:JR%0]775%/A<#GL?C:>>MJI6EF=8@TLC%F)8D^RRZV+9+
M^=[B^V6TFN"`"\D,;L0!0`LRDT`P,X'2Z#=-SM8Q#;;C/'"*T5)'5<\<`@9\
M_7I2R?+GY92QO%+\I/DA)%(C1R1R=Z]INDJ."KQNC;J(=64V(/!'M..5N600
M!RU85_YYX?\`H#IW]][T<?OBZI_S6D_Z"Z`O+97*Y[(U&7SN4R><RU4Q>JR>
M9R%3E<E4R:%4M45U?-4U,Y*JHNSDV4?T'LYCMX88DBAA5(AP50%`^P"@Z+G=
MY7,DK%I#YDDG]ISU,VQM;<^]=P8S:>R]NYS=NZ,U6TU!A]N[;Q5;F\UDJRJF
M2DI8*6@Q\,]1(T\\BH#8+J/)'MNYN;:R@DN;JX2*V0$LS$*H`%223C`'5H89
M9Y4A@B9YF-`J@DDGT`SQZW9/Y2'\K0_###UO<W;M;1YOY";^VY2XHXJ@61L/
MU1MFKE%?7[8HJUF1LSG\Q,E.V3JVBC2(TZT\`T"26?#_`-T/<<<VS+M.UJ4V
M.&0MJ/&9Q@.1^%0*A5J:U+-F@7(#DCD[]P1G<+XAMTD2E/*-?-0?-CC4:8I0
M>9)LOYBOP&V3\^.F8=FY3(#:O9FRI\AG>HM^N)Y:7;FX*^G@IZZ@S^/@N<KM
M7<,%+%#6PJ!/&8XYH662,!@QR'SM?<D[O]7$OB;=,`L\7FZ@U!4G@Z&I4\,D
M$$'H]YIY:MN9;`6[MHNXR3&_\).""/-6X$<>!&1UH:]__'SMGXP]F[@ZF[EV
MID-K;IP>0JZ2&>6FJ!@]S4,$\\=)N':>6EBCI<W@LO30_<4\L9\@A8"5(Y`R
M+FOL6_;9S)MT&Y[1=B6W<`D5&I#055UXJP."#BO`D9ZQMW/;+[9[N2QOX"DR
MGTPP_B4\"#Q!_;3H%2`P(8"Q!`!Y%OS<<K[-ND'2OP._]^;5HWQNU=\[SVQC
MY)?/)C]O;KSV#HI)]"0B9Z3&Y"DIVE\,:J&*W"J!]`/;%Q86%R_BW-G#(_"K
MHK']I!/3\=U<PJ5AN9$4^2LP'[`>H.X-V;KW;(DN[-T[FW2\,1IXY=R9_+YY
MXX"YD,$;96LJV2'62VD674;VO[O!:6=JO^*VL<:UKV*JY_(#JDLTT_\`;S.Y
M_I$G_"3TG?0BW.E$12239`BJ.3^-*JO^V'MT`UP,]-=6L_RS?Y<OR+^6/9VT
M.TMK56=Z9ZKZZW;M_<LG>%1CZVAK9\IA\E]_#0=41U--'3;HST$U!IJ)=38Z
MB2514&02"!XQ]P>?=@Y8VZYVRY5+O<KB)D^G!!%"*5FH:HN<#XS2JTIJ`TY1
MY5W7>KJ"[A=K>RBD#>+D&H-:1UPS8R>`KFM:%"_S=E9?YD7RK5G:1UW7L9'E
M8!6D9.H.N%>5E72BM*P+$*`H)X`''M?[5YY`Y;8"@\.3_J_+_J]?7I+SO_RM
MF]?Z=/\`JU'U7-#-+3S0U$$LD%13RQSTT\,KQS03PNLL,\,R:7BF@=`R.I#*
MP!!!]R`8PP(8`U%#\QZ=!<$@@@T(Z$5NY^Y"Q)[<[28DFY/8F\"Q)L23?,\L
M?9=^Z=H_Z-5M_P`XH_\`H'I5^\+_`/Y3IO\`>V_S]=_Z9>X?^?M]H_\`HP]W
M_P#UX]^_=.T?]&JV_P"<4?\`T#U[]X7_`/RG3?[VW^?KW^F7N'_G[?:/_HP]
MW_\`UX]^_=.T?]&JV_YQ1_\`0/7OWA?_`/*=-_O;?Y^CZ?RO^T>S\U\__BWB
M\QV5V'E\;6]D)#6XW*[WW/D<?60G;^;/AJZ.LRLM-4PEE!TNC+<#CCV!_<;;
M-NBY&YDDBVZ!9%@P1&@([EX$"HZ$O)UY>2<S;.DEY*R&7(+L0>T^1/6_][PD
MZR6Z_]'<C^>/PSP7SJZ+3HW<6^L[UUCDWQMG>XW#M[%8O,Y$U&V5R2PX_P"S
MR[+2"GJ_XB=;WU+I%OJ?8KY*YLN.2]Y.\P623OX+QZ6)44>F:KFHI]G1!S'L
M,?,>W?NZ6Y:)?$5]2@$]M<4/V]4Y?]`U75/_`'E?VK_Z`.QO^OGN6/\`@@=T
M_P"F:MO^<DG0$_UI[/\`Z/4W^\)U[_H&JZI_[RO[5_\`0!V-_P!?/?O^"!W3
M_IFK;_G))U[_`%I[/_H]3?[PG7%O^$U/5#?]S7]J_P#H`['/_7;W[_@@=T_Z
M9JV_YR2=>_UI[/\`Z/4W^\)T(VQ/^$Y?Q9PD\4V_^Y.[=_+'+([4V/FVILJ"
MI37"\$%3]EA,M4-$JHZN8Y(WD#BS(5%RZ]]^^9)5/T.U6<)IQ(>0CYBK`5\\
M@]*[;VKV9"#<WUQ+3TTH/Y`_RZN"^.'P]^.7Q,V_)M_H7JO;NR/NHUCS.X(X
MI,GO+<A226=7W'O'*O6;BS.B24B-)J@PP1A8XD2-$18KW_FK?^9YQ-O>XR34
M/:N%1<#X4%%7AF@J3DDDD]#G:MBVK9(C%MMDD9(RW%V_TSFK'\S0<!@`=&<]
MD/1MU[W[KW0,]X_'_IOY);&KNM^[^OL#V%M"NLYQ^8BGBK,?4JR.F0P><H)Z
M/-X#*1-&--30U%/.`+:])()IL^][OR_>)N&SWSP72^:TH1Z,IJK#Y,"/ET@W
M';+#=K9[3<;598#Y'R^8(H5/S!!ZH5[D_P"$XG3N>K,ID^B^]]\]<&I+2X[;
M.^,-C>P,!02N&=HOXG2U&VMQ-1I(5$:O++*L8LTCMZO<T[/[^;K`D<>\[+#<
M`89XV,3$?80ZU]309\AU&]_[5V,A9]MW*2(^2N`X_;VM3^?SZ*%7?\)OOD;#
M65$6-^1/2U=CT8&FK*[;N]\555*&-27FQ\$>8BIG$A9=(J9@0`UQ?2!6GOYR
M^8PTFQ7:R4R`T9`_/MK]M!T2-[5;H&(7=+<KZD.#^S-,_/\`/I3;1_X3:=N5
M553OOSY/=>XC'BJ"54&T=A;ASV0DH=-VEI:W-9C`TL%5K-@CT\R6%]7-@FNO
M?_;$5OHN6YVEI@O*JC5\PJL:?,$'Y=.0>U%\6_QG=XE6OX48FGYD`'\CU9G\
M;OY$?PYZ+SN"WAO6?=_?V[,!D8\E0CL63%TVR!54\-3'3/4[#Q%''C,GX9:@
M3!*Z6KB$T,3A%*'5'?,'O/S7O<,UM:"*QMG6A\*IDH:5_48ZA6E.T*:$CH7[
M5[<;'MTD<]P9+F=34:Z:/E5!@_F2*TZNCHJ"BQE'34&-HJ7'X^BA2FHZ&AIX
MJ6DI*>)=,,%+2T\<<$$*)8*J*`HX`]Q))))*QDD<M(34DFI)]23Q_P`O0^15
M10J*`HX`4`ZHN^5G\BSKOY4?(CM#Y!YGY$]A[.R?9N5PV5J]L8;9^TLEC,0^
M(VK@-K)#25N1D%94)-#@5F8R"X>0@<`>YFY8]Y]PY9V';MCAV*"5+=6`=G<,
MVIV?(&,%B,=1SO/MS:[SNEYN<FZ2QO,P)4*I`HJK@G/E7HO_`/T#5=4_]Y7]
MJ_\`H`[&_P"OGL]_X('=/^F:MO\`G))T6?ZT]G_T>IO]X3KW_0-5U3_WE?VK
M_P"@#L;_`*^>_?\`!`[I_P!,U;?\Y).O?ZT]G_T>IO\`>$Z]_P!`U75/_>5_
M:O\`Z`.QO^OGOW_!`[I_TS5M_P`Y).O?ZT]G_P!'J;_>$Z]_T#5=4_\`>5_:
MO_H`[&_Z^>_?\$#NG_3-6W_.23KW^M/9_P#1ZF_WA.AR^,G\A[KGXS]]]8=[
MXGY&]B;LR/6>Y!N&CVYE]F[1Q^.RTHH*V@^TJZNAE-93PE:TMJC&JZC\>R3F
M'WHO^8-DW'99=@@BBN(])=9')7(-0#@\//HQVCVXM=IW.SW./=)7>%]6DHH!
MQ3B,CCU?A[A?J2>O_]+?X]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U
M[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?N
1O=>]^Z]U[W[KW7O?NO=?_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>press_2.jpg
<TEXT>
begin 644 press_2.jpg
M_]C_X``02D9)1@`!`@$!+`$L``#_X0NJ17AI9@``34T`*@````@`!P$2``,`
M```!``$```$:``4````!````8@$;``4````!````:@$H``,````!``(```$Q
M``(````<````<@$R``(````4````CH=I``0````!````I````-``+<;````G
M$``MQL```"<0061O8F4@4&AO=&]S:&]P($-3,R!7:6YD;W=S`#(P,#DZ,#4Z
M,#8@,C(Z,#,Z-3@``````Z`!``,````!``$``*`"``0````!```!):`#``0`
M```!````7``````````&`0,``P````$`!@```1H`!0````$```$>`1L`!0``
M``$```$F`2@``P````$``@```@$`!`````$```$N`@(`!`````$```IT````
M`````$@````!````2`````'_V/_@`!!*1DE&``$"``!(`$@``/_M``Q!9&]B
M95]#30`!_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)#!$+"@L1%0\,
M#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`,@"@`P$B``(1`0,1`?_=``0`
M"O_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$``04!`0$!`0$`
M`````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!``(1`P0A$C$%
M05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U%J*R@R9$DU1D
M1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F
M]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#(3$2!$%187$B
M$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F-<+21)-4HQ=D
M154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8G-T=7
M9W>'EZ>WQ__:``P#`0`"$0,1`#\`]522224I))))2DDDDE*22224I))))2DD
MDDE*22224I))))2DDDDE*22224__T/54ER_U@ZMU;#ZPXX=A./@8;,Z_$#&G
MUJ_6=5EM]1WZ1EE6,SU<?T_\*M+KO47U?5K-ZET^V'-Q7WXU[0'#Z'J56-#P
MYKD_VI>G;UZ#P_O+>(:^#K)*%;OT37..NT$D_!"QNH]/S'.;B9-.0ZOZ8JL:
M\M_K;'.VIM'7P76V$E!MM;GNK:]KGUQO:""6R-S=[?S=R<65EYK#AZC0'%D^
MX`R&N+?W7;4%,DE#U:_4]+>/4V[MDC=MG;OV_2V[D$=2Z<<C[*,JDY,QZ'J-
M]2?W?3W;T:/95ALI)(&5GX.$T.S,BK&:[1KKGM8"1^[ZA:@`3H%)TD-E]%E(
MOKL:^DC<+&D%I;^]O'MVH>+U#`S-WV/)JR=FC_2>U\?UO3+MJ-'MLJPG3K(;
MEY/_`#L?AFP_91T]EPJTCU#=96;.-V[8W:K^5U#`PPTYF35C;]&>J]K)_J^H
M6[D3$BAO8O1`(U\#38246N:YH<T@M(D$:@@]T"[J73J+VX]^535>^-M3[&M>
M9^CMK<[>@`3L$V&RDHLLK?.QP?M):=IF'#1S3'YS4"GJ73LBTT8^53=<V=U;
M+&N<(YEC7;DJ/;95ALI(=^11C5.NR+&4U-^E98X-:/ZSWPU-CY6-E5"[%M9?
M4=!96X/:8_EL+FH4:M5]'__1[B`?KK8")!Z6V1_U^Q8^83T[H7U@^KEA]N)B
MVY'3Y[XEH?MK_P#0*_U,?_BO073CIC1UD]6]0[SC#%]*!M@6.O\`4W?2W>[:
MJOU@^KU?6JV`9#\2YK;*775@.+J+QZ>5C/:_V[+6M;_Q=C-ZGADCQ1!/IJ/^
M#*#&8FC6]G[)-'ZTOOM'2>FLH=E4YEKC?CM>*_6;34Z]N,^U_L])[_TMK/\`
M"UT^DJN=@]6O=C78/06=/S,.RMU&17?2V&!P%^/8VK8Y^/=1ZE?I+HNI=)QN
MI8K,:YSZS4]MM%U9VV56,_F[JG^[WM56KI'5S;6<SK-UU-3FO].JJN@O+3N#
M;[:PY[JW?X1E7H>HE#(!$;#AOYN/U7_<]/\`C*E$WUU[</\`W2&T#!^MU%S1
M%76<9U%D#F_%F^ASOZV+9D,_ZRLK`R;?^<[>MN/ZKU7(OZ8PS[=N.W]3>W_C
MLC%SO^W5T?6>E'J>/6RN]V+DX]K;\;(:T/++&2W=Z;_;8UU;[*]BKW?5S'/1
M,;I6-:Z@X1J?BY$![F6TN%C+W,=[+-[_`.=;^?ZCTHSCPB]Y#VY?W?WO_2?^
M(HQ-Z;`\0\^S7Z74>H]4ZUU$.+)<.F8MH^DQF.#Z[ZW?^';[?^V%E,Q,/I/3
M*^G_`%BZ)6[#H#6/ZKC-;8P[?^UF0&[,_%?_`(2Z[]+^D_PJZ;`Z35@]);TV
MNVR`Q[77@[;"^PN?=>US?H6OML?:J%G0.LWXKL#(ZR^S"L::K?T%8R'5$;',
M=E2YF][/:Z[[,E'(+/JJ-BOF$JAZ8RCP?I*,30TL_3K_`'G<:YKFAS2'-(D$
M:@@K!Q,7&ROK;U9^34R]U%&&VDV-#]C7C)=8VK?/I^H[Z>Q;M-5=-3*:F[:Z
MVAC&CLUHVM:JN-TUM'5,WJ(L+G9K*6&L@0WT!8!M=_+]91QD`)Z[BA_C17$7
MP^!U^QP?K#BUTY'2^CX6"RW"R++\F[I]990RYU098UEL[:WU^K=]HLI_PWH_
MZ-0R,+JUV9A9>'T-O3LG%N9.17?2)QR=F3C6LJV^K4^GZ#/S+5T'5>E4=2JK
M:][Z+L=XMQLFH[;*K`"W>S<',=N8YU=E=C/3LK5:CI'5O7JLS>KVWUTN#Q55
M570'EO\`W(?6'V65_O5L=4Q21R#A&HL`WQ<?JXO[OI_QEI@;ZZ]N'1$W_P`6
MUG_IKK_\_P!JQ^E'-R7Y74G]%;U._)ONK=D6W4C;7599CUXE55PW454MK][/
M\+9^F_/73#IC1UEW5?4.YV,W%]*!MAKW7^IN^EN]^U5+>@Y-65=D](SW]/\`
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M5:228%KV-]1WTW[FC9;^>E6[IV-;AT];Z'7TVRNU@Q<W'#'XPM!`IVY%'IWX
MWJO^@S)J8S]]:N+T#[+TJ_IS,W(#K[;+OMC2&WAUC_7W;VMV.=N^G^C_`$B#
M;T#J>:UF/U3JGVG"#F/LHKH92;?3<VUC+KM]OZ/U&-]3T64IWN1)E<O29$_I
M"?G'A_[M'"0!IK7APM#J;LG+^M%M9Z=^U*NG44NHQWV5UUL?<;=^6:[_`&W6
M_HO1J?\`X#99_I47IV'U5GUAJSJNECI>+=6^OJ#6W5N980-^+=Z-$?IZW[Z_
M5_T=JU.I=%^UY->?BY#\'J%+#4W)K#7!U;CN-&13:',NJW^]GY];_P";L3X'
M3<^G)^TYW4K<QX:6-J#&4T@.+3O]&H%UEOL]K[+7H>X.#2OEX:/'?_JO^LGA
M/%UWN_3_`.C/_]+U5)?*J22GZJ27RJDDI^JDE\JI)*?JI)?*J22GZJ27RJDD
MI^JDE\JI)*?JI)?*J22GZJ27RJDDI^JDE\JI)*?JI)?*J22G_]G_[1!64&AO
M=&]S:&]P(#,N,``X0DE-!`0```````<<`@```@```#A"24T$)0``````$.CQ
M7/,OP1BAHGMGK<5DU;HX0DE-`^T``````!`!+`````$``@$L`````0`".$))
M300F```````.`````````````#^````X0DE-!`T```````0```!X.$))3009
M```````$````'CA"24T#\P``````"0```````````0`X0DE-!`H```````$`
M`#A"24TG$```````"@`!``````````(X0DE-`_4``````$@`+V9F``$`;&9F
M``8```````$`+V9F``$`H9F:``8```````$`,@````$`6@````8```````$`
M-0````$`+0````8```````$X0DE-`_@``````'```/__________________
M__________\#Z`````#_____________________________`^@`````____
M_________________________P/H`````/__________________________
M__\#Z```.$))300(```````0`````0```D````)``````#A"24T$'@``````
M!``````X0DE-!!H``````T,````&``````````````!<```!)0````<`<`!R
M`&4`<P!S`%\`,0````$``````````````````````````0`````````````!
M)0```%P``````````````````````0`````````````````````````0````
M`0```````&YU;&P````"````!F)O=6YD<T]B:F,````!````````4F-T,0``
M``0`````5&]P(&QO;F<``````````$QE9G1L;VYG``````````!"=&]M;&]N
M9P```%P`````4F=H=&QO;F<```$E````!G-L:6-E<U9L3',````!3V)J8P``
M``$```````5S;&EC90```!(````'<VQI8V5)1&QO;F<`````````!V=R;W5P
M241L;VYG``````````9O<FEG:6YE;G5M````#$53;&EC94]R:6=I;@````UA
M=71O1V5N97)A=&5D`````%1Y<&5E;G5M````"D53;&EC951Y<&4`````26UG
M(`````9B;W5N9'-/8FIC`````0```````%)C=#$````$`````%1O<"!L;VYG
M``````````!,969T;&]N9P``````````0G1O;6QO;F<```!<`````%)G:'1L
M;VYG```!)0````-U<FQ415A4`````0```````&YU;&Q415A4`````0``````
M`$US9V5415A4`````0``````!F%L=%1A9U1%6%0````!```````.8V5L;%1E
M>'1)<TA434QB;V]L`0````AC96QL5&5X=%1%6%0````!```````):&]R>D%L
M:6=N96YU;0````]%4VQI8V5(;W)Z06QI9VX````'9&5F875L=`````EV97)T
M06QI9VYE;G5M````#T53;&EC959E<G1!;&EG;@````=D969A=6QT````"V)G
M0V]L;W)4>7!E96YU;0```!%%4VQI8V5"1T-O;&]R5'EP90````!.;VYE````
M"71O<$]U='-E=&QO;F<`````````"FQE9G1/=71S971L;VYG``````````QB
M;W1T;VU/=71S971L;VYG``````````MR:6=H=$]U='-E=&QO;F<``````#A"
M24T$*```````#`````$_\````````#A"24T$%```````!`````(X0DE-!`P`
M````"I`````!````H````#(```'@``!=P```"G0`&``!_]C_X``02D9)1@`!
M`@``2`!(``#_[0`,061O8F5?0TT``?_N``Y!9&]B90!D@`````'_VP"$``P(
M"`@)"`P)"0P1"PH+$14/#`P/%1@3$Q43$Q@1#`P,#`P,$0P,#`P,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P!#0L+#0X-$`X.$!0.#@X4%`X.#@X4$0P,#`P,
M$1$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#/_``!$(`#(`
MH`,!(@`"$0$#$0'_W0`$``K_Q`$_```!!0$!`0$!`0`````````#``$"!`4&
M!P@)"@L!``$%`0$!`0$!``````````$``@,$!08'"`D*"Q```00!`P($`@4'
M!@@%`PPS`0`"$0,$(1(Q!4%181,B<8$R!A21H;%"(R054L%B,S1R@M%#!R62
M4_#A\6-S-1:BLH,F1)-49$7"HW0V%])5XF7RLX3#TW7C\T8GE*2%M)7$U.3T
MI;7%U>7U5F9VAI:FML;6YO8W1U=G=X>7I[?'U^?W$0`"`@$"!`0#!`4&!P<&
M!34!``(1`R$Q$@1!46%Q(A,%,H&1%*&Q0B/!4M'P,R1BX7*"DD-3%6-S-/$E
M!A:BLH,')C7"TD235*,79$55-G1EXO*SA,/3=>/S1I2DA;25Q-3D]*6UQ=7E
M]59F=H:6IK;&UN;V)S='5V=WAY>GM\?_V@`,`P$``A$#$0`_`/54DDDE*222
M24I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE/_]#U5)<O]8.K
M=6P^L..'83CX&&S.OQ`QI]:OUG59;?4=^D995C,]7']/_"K2Z[U%]7U:S>I=
M/MAS<5]^->T!P^AZE5C0\.:Y/]J7IV]>@\/[RWB&O@ZR2A6[]$USCKM!)/P0
ML;J/3\QSFXF33D.K^F*K&O+?ZVQSMJ;1U\%UMA)0;;6Y[JVO:Y]<;V@@ELC<
MW>W\W<G%E9>:PX>HT!Q9/N`,AKBW]UVU!3))0]6OU/2WCU-N[9(W;9V[]OTM
MNY!'4NG'(^RC*I.3,>AZC?4G]WT]V]&CV58;*22!E9^#A-#LS(JQFNT:ZY[6
M`D?N^H6H`$Z!2=)#9?192+Z[&OI(W"QI!:6_O;Q[=J'B]0P,S=]CR:LG9H_T
MGM?'];TR[:C1[;*L)TZR&Y>3_P`['X9L/V4=/9<*M(]0W65FSC=NV-VJ_E=0
MP,,-.9DU8V_1GJO:R?ZOJ%NY$Q(H;V+T0"-?`TV$E%KFN:'-(+2)!&H(/=`N
MZETZB]N/?E4U7OC;4^QK7F?H[:W.WH`$[!-ALI*++*WSL<'[26G:9APT<TQ^
M<U`IZET[(M-&/E4W7-G=6RQKG".98UVY*CVV58;*2'?D48U3KLBQE-3?I66.
M#6C^L]\-38^5C950NQ;67U'065N#VF/Y;"YJ%&K5?1__T>X@'ZZV`B0>EMD?
M]?L6/F$].Z%]8/JY8?;B8MN1T^>^):'[:_\`T"O]3'_XKT%TXZ8T=9/5O4.\
MXPQ?2@;8%CK_`%-WTMWNVJK]8/J]7UJM@&0_$N:VREUU8#BZB\>GE8SVO]NR
MUK6_\78S>IX9(\403Z:C_@R@QF)HUO9^R31^M+[[1TGIK*'95.9:XWX[7BOU
MFTU.O;C/M?[/2>_]+:S_``M=/I*KG8/5KW8UV#T%G3\S#LK=1D5WTMA@<!?C
MV-JV.?CW4>I7Z2Z+J72<;J6*S&N<^LU/;;1=6=ME5C/YNZI_N][55JZ1U<VU
MG,ZS==34YK_3JJKH+RT[@V^VL.>ZMW^$95Z'J)0R`1&PX;^;C]5_W/3_`(RI
M1-]=>W#_`-TAM`P?K=1<T15UG&=19`YOQ9OH<[^MBV9#/^LK*P,FW_G.WK;C
M^J]5R+^F,,^W;CM_4WM_X[(Q<[_MU='UGI1ZGCULKO=BY./:V_&R&M#RRQDM
MW>F_VV-=6^RO8J]WU<QST3&Z5C6NH.$:GXN1`>YEM+A8R]S'>RS>_P#G6_G^
MH]*,X\(O>0]N7]W][_TG_B*,3>FP/$//LU^EU'J/5.M=1#BR7#IF+:/I,9C@
M^N^MW_AV^W_MA93,3#Z3TROI_P!8NB5NPZ`UC^JXS6V,.W_M9D!NS/Q7_P"$
MNN_2_I/\*NFP.DU8/26]-KML@,>UUX.VPOL+GW7M<WZ%K[;'VJA9T#K-^*[`
MR.LOLPK&FJW]!6,AU1&QS'94N9O>SVNN^S)1R"SZJC8KYA*H>F,H\'Z2C$T-
M+/TZ_P!YW&N:YH<TAS2)!&H(*P<3%QLKZV]6?DU,O=11AMI-C0_8UXR76-JW
MSZ?J.^GL6[35734RFINVNMH8QH[-:-K6JKC=-;1U3-ZB+"YV:REAK($-]`6`
M;7?R_64<9`">NXH?XT5Q%\/@=?L<'ZPXM=.1TOH^%@LMPLBR_)NZ?664,N=4
M&6-9;.VM]?JW?:+*?\-Z/^C4,C"ZM=F867A]#;T[)Q;F3D5WTB<<G9DXUK*M
MOJU/I^@S\RU=!U7I5'4JJVO>^B['>+<;)J.VRJP`MWLW!S';F.=7978ST[*U
M6HZ1U;UZK,WJ]M]=+@\5555T!Y;_`-R'UA]EE?[U;'5,4D<@X1J+`-\7'ZN+
M^[Z?\9:8&^NO;AT1-_\`%M9_Z:Z__/\`:L?I1S<E^5U)_16]3OR;[JW9%MU(
MVUU668]>)55<-U%5+:_>S_"V?IOSUTPZ8T=9=U7U#N=C-Q?2@;8:]U_J;OI;
MO?M52WH.35E79/2,]_3_`+4[U,F@ULNI=81#KV5V;74W/_POIV;+?]&E')';
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MM8,7-QPQ^,+00*=N11Z=^-ZK_H,R:F,_?6KB]`^R]*OZ<S-R`Z^VR[[8TAMX
M=8_U]V]K=CG;OI_H_P!(@V]`ZGFM9C]4ZI]IP@YC[**Z&4FWTW-M8RZ[?;^C
M]1C?4]%E*=[D297+TF1/Z0GYQX?^[1PD`::UX<+0ZF[)R_K1;6>G?M2KIU%+
MJ,=]E==;'W&W?EFN_P!MUOZ+T:G_`.`V6?Z5%Z=A]59]8:LZKI8Z7BW5OKZ@
MUMU;F6$#?BW>C1'Z>M^^OU?]':M3J71?M>37GXN0_!ZA2PU-R:PUP=6X[C1D
M4VAS+JM_O9^?6_\`F[$^!TW/IR?M.=U*W,>&EC:@QE-(#BT[_1J!=9;[/:^R
MUZ'N#@TKY>&CQW_ZK_K)X3Q==[OT_P#HS__2]527RJDDI^JDE\JI)*?JI)?*
MJ22GZJ27RJDDI^JDE\JI)*?JI)?*J22GZJ27RJDDI^JDE\JI)*?JI)?*J22G
MZJ27RJDDI__9.$))300A``````!5`````0$````/`$$`9`!O`&(`90`@`%``
M:`!O`'0`;P!S`&@`;P!P````$P!!`&0`;P!B`&4`(`!0`&@`;P!T`&\`<P!H
M`&\`<``@`$,`4P`S`````0`X0DE-!`8```````<`"`````$!`/_A#\]H='1P
M.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O`#P_>'!A8VME="!B96=I;CTB[[N_
M(B!I9#TB5S5-,$UP0V5H:4AZ<F53>DY48WIK8SED(C\^(#QX.GAM<&UE=&$@
M>&UL;G,Z>#TB861O8F4Z;G,Z;65T82\B('@Z>&UP=&L](D%D;V)E(%A-4"!#
M;W)E(#0N,2UC,#,V(#0V+C(W-C<R,"P@36]N($9E8B`Q.2`R,#`W(#(R.C0P
M.C`X("`@("`@("`B/B`\<F1F.E)$1B!X;6QN<SIR9&8](FAT='`Z+R]W=W<N
M=S,N;W)G+S$Y.3DO,#(O,C(M<F1F+7-Y;G1A>"UN<R,B/B`\<F1F.D1E<V-R
M:7!T:6]N(')D9CIA8F]U=#TB(B!X;6QN<SID8STB:'1T<#HO+W!U<FPN;W)G
M+V1C+V5L96UE;G1S+S$N,2\B('AM;&YS.GAA<#TB:'1T<#HO+VYS+F%D;V)E
M+F-O;2]X87`O,2XP+R(@>&UL;G,Z>&%P34T](FAT='`Z+R]N<RYA9&]B92YC
M;VTO>&%P+S$N,"]M;2\B('AM;&YS.G-T4F5F/2)H='1P.B\O;G,N861O8F4N
M8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V52968C(B!X;6QN<SIP:&]T;W-H
M;W`](FAT='`Z+R]N<RYA9&]B92YC;VTO<&AO=&]S:&]P+S$N,"\B('AM;&YS
M.G1I9F8](FAT='`Z+R]N<RYA9&]B92YC;VTO=&EF9B\Q+C`O(B!X;6QN<SIE
M>&EF/2)H='1P.B\O;G,N861O8F4N8V]M+V5X:68O,2XP+R(@9&,Z9F]R;6%T
M/2)I;6%G92]J<&5G(B!X87`Z0W)E871O<E1O;VP](D%D;V)E(%!H;W1O<VAO
M<"!#4S,@5VEN9&]W<R(@>&%P.D-R96%T941A=&4](C(P,#DM,#4M,#94,C(Z
M,#,Z-3@M,#0Z,#`B('AA<#I-;V1I9GE$871E/2(R,#`Y+3`U+3`V5#(R.C`S
M.C4X+3`T.C`P(B!X87`Z365T861A=&%$871E/2(R,#`Y+3`U+3`V5#(R.C`S
M.C4X+3`T.C`P(B!X87!-33I$;V-U;65N=$E$/2)U=6ED.C%#-3DQ13(W04(S
M041%,3$X.3E!1#<P14,Y044Y-39%(B!X87!-33I);G-T86YC94E$/2)U=6ED
M.C%$-3DQ13(W04(S041%,3$X.3E!1#<P14,Y044Y-39%(B!P:&]T;W-H;W`Z
M0V]L;W)-;V1E/2(S(B!P:&]T;W-H;W`Z24-#4')O9FEL93TB<U)'0B!)14,V
M,3DV-BTR+C$B('!H;W1O<VAO<#I(:7-T;W)Y/2(B('1I9F8Z3W)I96YT871I
M;VX](C$B('1I9F8Z6%)E<V]L=71I;VX](C,P,#`P,#`O,3`P,#`B('1I9F8Z
M65)E<V]L=71I;VX](C,P,#`P,#`O,3`P,#`B('1I9F8Z4F5S;VQU=&EO;E5N
M:70](C(B('1I9F8Z3F%T:79E1&EG97-T/2(R-38L,C4W+#(U."PR-3DL,C8R
M+#(W-"PR-S<L,C@T+#4S,"PU,S$L,C@R+#(X,RPR.38L,S`Q+#,Q."PS,3DL
M-3(Y+#4S,BPS,#8L,C<P+#(W,2PR-S(L,S`U+#,Q-2PS,S0S,CM#.#9&-C%$
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M,RPT,3DY-"PT,3DY-2PT,3DY-BPT,C`Q-BPP+#(L-"PU+#8L-RPX+#DL,3`L
M,3$L,3(L,3,L,30L,34L,38L,3<L,3@L,C`L,C(L,C,L,C0L,C4L,C8L,C<L
M,C@L,S`[,C@X038T1D,S,#9$,3`V0C1%,4$U-S8W0S,X-#`Y,D$B/B`\>&%P
M34TZ1&5R:79E9$9R;VT@<W12968Z:6YS=&%N8V5)1#TB=75I9#HR1D,W,4-&
M14%!,T%$13$Q.#DY040W,$5#.4%%.34V12(@<W12968Z9&]C=6UE;G1)1#TB
M=75I9#HR14,W,4-&14%!,T%$13$Q.#DY040W,$5#.4%%.34V12(O/B`\+W)D
M9CI$97-C<FEP=&EO;CX@/"]R9&8Z4D1&/B`\+W@Z>&UP;65T83X@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`\/WAP86-K970@96YD/2)W(C\^_^(,6$E#0U]0
M4D]&24Q%``$!```,2$QI;F\"$```;6YT<E)'0B!865H@!\X``@`)``8`,0``
M86-S<$U31E0`````245#('-21T(```````````````$``/;6``$`````TRU(
M4"`@````````````````````````````````````````````````````````
M```````18W!R=````5`````S9&5S8P```80```!L=W1P=````?`````48FMP
M=````@0````4<EA96@```A@````49UA96@```BP````48EA96@```D`````4
M9&UN9````E0```!P9&UD9````L0```"(=G5E9````TP```"&=FEE=P```]0`
M```D;'5M:0```_@````4;65A<P``!`P````D=&5C:```!#`````,<E120P``
M!#P```@,9U120P``!#P```@,8E120P``!#P```@,=&5X=`````!#;W!Y<FEG
M:'0@*&,I(#$Y.3@@2&5W;&5T="U086-K87)D($-O;7!A;GD``&1E<V,`````
M````$G-21T(@245#-C$Y-C8M,BXQ```````````````2<U)'0B!)14,V,3DV
M-BTR+C$`````````````````````````````````````````````````````
M`````````````%A96B````````#S40`!`````1;,6%E:(```````````````
M``````!865H@````````;Z(``#CU```#D%A96B````````!BF0``MX4``!C:
M6%E:(````````"2@```/A```ML]D97-C`````````!9)14,@:'1T<#HO+W=W
M=RYI96,N8V@``````````````!9)14,@:'1T<#HO+W=W=RYI96,N8V@`````
M````````````````````````````````````````````````````````9&5S
M8P`````````N245#(#8Q.38V+3(N,2!$969A=6QT(%)'0B!C;VQO=7(@<W!A
M8V4@+2!S4D="```````````````N245#(#8Q.38V+3(N,2!$969A=6QT(%)'
M0B!C;VQO=7(@<W!A8V4@+2!S4D="`````````````````````````````&1E
M<V,`````````+%)E9F5R96YC92!6:65W:6YG($-O;F1I=&EO;B!I;B!)14,V
M,3DV-BTR+C$``````````````"Q2969E<F5N8V4@5FEE=VEN9R!#;VYD:71I
M;VX@:6X@245#-C$Y-C8M,BXQ``````````````````````````````````!V
M:65W```````3I/X`%%\N`!#/%``#[<P`!!,+``-<G@````%865H@``````!,
M"58`4````%<?YVUE87,``````````0````````````````````````*/````
M`G-I9R``````0U)4(&-U<G8````````$``````4`"@`/`!0`&0`>`",`*``M
M`#(`-P`[`$``10!*`$\`5`!9`%X`8P!H`&T`<@!W`'P`@0"&`(L`D`"5`)H`
MGP"D`*D`K@"R`+<`O`#!`,8`RP#0`-4`VP#@`.4`ZP#P`/8`^P$!`0<!#0$3
M`1D!'P$E`2L!,@$X`3X!10%,`5(!60%@`6<!;@%U`7P!@P&+`9(!F@&A`:D!
ML0&Y`<$!R0'1`=D!X0'I`?(!^@(#`@P"%`(=`B8"+P(X`D$"2P)4`ET"9P)Q
M`GH"A`*.`I@"H@*L`K8"P0++`M4"X`+K`O4#``,+`Q8#(0,M`S@#0P-/`UH#
M9@-R`WX#B@.6`Z(#K@.Z`\<#TP/@`^P#^00&!!,$(`0M!#L$2`15!&,$<01^
M!(P$F@2H!+8$Q`33!.$$\`3^!0T%'`4K!3H%2058!6<%=P6&!98%I@6U!<4%
MU07E!?8&!@86!B<&-P9(!ED&:@9[!HP&G0:O!L`&T0;C!O4'!P<9!RL'/0=/
M!V$'=`>&!YD'K`>_!]('Y0?X"`L('P@R"$8(6@AN"(((E@BJ"+X(T@CG"/L)
M$`DE"3H)3PED"7D)CPFD";H)SPGE"?L*$0HG"CT*5`IJ"H$*F`JN"L4*W`KS
M"PL+(@LY"U$+:0N`"Y@+L`O("^$+^0P2#"H,0PQ<#'4,C@RG#,`,V0SS#0T-
M)@U`#5H-=`V.#:D-PPW>#?@.$PXN#DD.9`Y_#IL.M@[2#NX/"0\E#T$/7@]Z
M#Y8/LP_/#^P0"1`F$$,081!^$)L0N1#7$/41$Q$Q$4\1;1&,$:H1R1'H$@<2
M)A)%$F02A!*C$L,2XQ,#$R,30Q-C$X,3I!/%$^44!A0G%$D4:A2+%*T4SA3P
M%1(5-!56%7@5FQ6]%>`6`Q8F%DD6;!:/%K(6UA;Z%QT701=E%XD7KA?2%_<8
M&QA`&&48BABO&-48^AD@&449:QF1&;<9W1H$&BH:41IW&IX:Q1KL&Q0;.QMC
M&XH;LAO:'`(<*AQ2''L<HQS,'/4='AU''7`=F1W#'>P>%AY`'FH>E!Z^'ND?
M$Q\^'VD?E!^_'^H@%2!!(&P@F"#$(/`A'"%((74AH2'.(?LB)R)5(H(BKR+=
M(PHC."-F(Y0CPB/P)!\D321\)*LDVB4))3@E:"67)<<E]R8G)E<FAR:W)N@G
M&"=))WHGJR?<*`TH/RAQ**(HU"D&*3@I:RF=*=`J`BHU*F@JFRK/*P(K-BMI
M*YTKT2P%+#DL;BRB+-<M#"U!+78MJRWA+A8N3"Z"+K<N[B\D+UHOD2_'+_XP
M-3!L,*0PVS$2,4HQ@C&Z,?(R*C)C,ILRU#,-,T8S?S.X,_$T*S1E-)XTV#43
M-4TUAS7"-?TV-S9R-JXVZ3<D-V`WG#?7.!0X4#B,.,@Y!3E".7\YO#GY.C8Z
M=#JR.N\[+3MK.ZH[Z#PG/&4\I#SC/2(]83VA/>`^(#Y@/J`^X#\A/V$_HC_B
M0"-`9$"F0.=!*4%J0:Q![D(P0G)"M4+W0SI#?4/`1`-$1T2*1,Y%$D5519I%
MWD8B1F=&JT;P1S5'>T?`2`5(2TB12-=)'4EC2:E)\$HW2GU*Q$L,2U-+FDOB
M3"I,<DRZ30)-2DV33=Q.)4YN3K=/`$])3Y-/W5`G4'%0NU$&45!1FU'F4C%2
M?%+'4Q-37U.J4_940E2/5-M5*%5U5<)6#U9<5JE6]U=$5Y)7X%@O6'U8RUD:
M66E9N%H'6E9:IEKU6T5;E5OE7#5<AES672==>%W)7AI>;%Z]7P]?85^S8`5@
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MB,Z),XF9B?Z*9(K*BS"+EHO\C&.,RHTQC9B-_XYFCLZ/-H^>D`:0;I#6D3^1
MJ)(1DGJ2XY--D[:4()2*E/257Y7)EC26GY<*EW67X)A,F+B9))F0F?R::)K5
MFT*;KYP<G(F<]YUDG=*>0)ZNGQV?BY_ZH&F@V*%'H;:B)J*6HP:C=J/FI%:D
MQZ4XI:FF&J:+IOVG;J?@J%*HQ*DWJ:FJ'*J/JP*K=:OIK%RLT*U$K;BN+:ZA
MKQ:OB[``L'6PZK%@L=:R2[+"LSBSKK0EM)RU$[6*M@&V>;;PMVBWX+A9N-&Y
M2KG"NCNZM;LNNZ>\(;R;O16]C[X*OH2^_[]ZO_7`<,#LP6?!X\)?PMO#6,/4
MQ%'$SL5+Q<C&1L;#QT''O\@]R+S).LFYRCC*M\LVR[;,-<RUS37-M<XVSK;/
M-\^XT#G0NM$\T;[2/]+!TT33QM1)U,O53M71UE76V-=<U^#89-CHV6S9\=IV
MVOO;@-P%W(K=$-V6WAS>HM\IWZ_@-N"]X43AS.)3XMOC8^/KY'/D_.6$Y@WF
MEN<?YZGH,NB\Z4;IT.I;ZN7K<.O[[(;M$>V<[BCNM.]`[\SP6/#E\7+Q__*,
M\QGSI_0T],+U4/7>]FWV^_>*^!GXJ/DX^<?Z5_KG^W?\!_R8_2G]NOY+_MS_
M;?___^X`#D%D;V)E`&1``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!
M`0$!`0$!`0$!`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#_\``$0@`7`$E`P$1``(1`0,1`?_=``0`)?_$
M`:(````&`@,!``````````````<(!@4$"0,*`@$`"P$```8#`0$!````````
M````!@4$`P<""`$)``H+$``"`0,$`0,#`@,#`P(&"74!`@,$$042!B$'$R(`
M"#$403(C%0E10A9A)#,74G&!&&*1)4.AL?`F-'(*&<'1-2?A4S:"\9*B1%1S
M148W1V,H5597&K+"TN+R9(-TDX1EH[/#T^,I.&;S=2HY.DA)2EA96F=H:6IV
M=WAY>H6&AXB)BI25EI>8F9JDI::GJ*FJM+6VM[BYNL3%QL?(R<K4U=;7V-G:
MY.7FY^CIZO3U]O?X^?H1``(!`P($!`,%!`0$!@8%;0$"`Q$$(1(%,08`(A-!
M40<R811Q"$*!(Y$54J%B%C,)L23!T4-R\!?A@C0EDE,88T3QHK(F-1E4-D5D
M)PIS@Y-&=,+2XO)59756-X2%H[/#T^/S*1J4I+3$U.3TE:6UQ=7E]2A'5V8X
M=H:6IK;&UN;V9W>'EZ>WQ]?G]TA8:'B(F*BXR-CH^#E)66EYB9FIN<G9Z?DJ
M.DI::GJ*FJJZRMKJ^O_:``P#`0`"$0,1`#\`W^/?NO=>]^Z]U[W[KW7O?NO=
M>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[
MKW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>
M]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[K
MW7O?NO=?_]#?X]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?
MNO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U
M[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?N
MO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U__T=_CW[KW7O?NO=>]
M^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW
M7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^
MZ]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7
MO?NO=>]^Z]U[W[KW7__2W^/?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO
M=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W
M[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=
M>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=?_]/?X]^Z
M]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O
M?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]
MU[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?
MNO=>]^Z]U[W[KW7O?NO=>]^Z]U__U-^G(9"AQE'59')5E)CJ"BADJ*NOKZF&
MCHZ2GA4M+45-5.Z0P0Q+<LS,%`^I]V2-Y76.)&:5L``5)^0`R?RSU5W2-2\C
MA4'$G`'VGRZ:MM;JVSO#'KF=I;CP&Z<-)-+"N6VYF,?F\8]1"%$L(KL94U5*
MTT08:E#W!(N.?>YK:[LW\.\MWB>E:,K*2/6C`'-#GIN&XM[E2]O,DB>JL&'[
M1THN/Z_[S^/]Z]TZ>Z89=S;=ASE/MF;<&$AW)54S5=+M^7*T*YNII8PS/54^
M)>H%?-3H$8EUC91;DBWMWZ:Z:![I;=S:J:%])T@^A:E*GTK7]O37U$'BB`RK
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MO?NO=>]^Z]U[W[KW7__5V=/YY&:R^"_EX]G_`,*KZG''-;GV+A,H::1XC78J
MHS(J*BAF*.&>DJ)J2/R)<!U%FN"09=]BK9;CW%VT/$K&.*5UU#@P7!'](>7E
MZ]1][DNR\L%2U`UQ&#\P:U4_(T\_V=5Q_$U)_P"6%\P^A]DOD\K#\5?G?TUL
M#)X0Y>NE?$[6[?J<%A*FID)=EIZ>HBS^6%.Q^IH\M#<L573)?.!3W1Y-W^^$
M:_UOV&^F5M(S);J[C2?/3I6O^G0CSZ!^PL_)^];:97/[IW&",UK0!F"Y(X$H
MY(K2FAUKUM+(;!U-[BXL;D?V?TG\KSQ[Q20T<BO#_)0_Y>IPKE2:>7#[>J"^
MU8HC_P`*`_CM,8D,R_&?=:K+H4R*AQ&Y[J&(N`2?];WD1M1(^[WS"-6/WDG_
M`!]>HLO!7W.LC3_0%_XX_5_>L``,0#]+7O<V%_\`7]X]_:.I4)IU[6M[`@_Z
MW/\`K_2_OQ(QGKW77ECU:2P#`7L>/Z?[U?WH,"2`>O?EUUY8P.6!XO\`X$_X
M'Z>]D@<>O?EUS5E:^DWL>?K^>?\`;>]]>Z\74&Q(!'OW7JCUZXF6,?VO]X)_
MXCWJH'$]>KFG78D0_1O\/H?^*>_5%*UQU[KII$'U:PX/Y_P^I'X-Q[\2/7_5
M_J\^O==AU(OJ!_K:Y%_S[U4`5KU[KQD4?G_??['WZH%37'6JBM//KG[MUOKH
MD*+D@#^OO1(''KW7`2H3I#7-K_GG_6X]ZU*?/KW7+4HL+@7^@^G^\>[=>ZZ,
MB#ZL/Z?\1[U45IY]>X\.NPZD7!N/Z@&W!M_3^OOU:]>ZXET((O?B_P"?ZBPO
M_B?>G^$]>ZI+_G\HK_`:8.BL#W=U22&`8$_>Y4BX*_CW-WW?R1[@8.?H9O\`
M)U'7N>:\N0_\]4?^!^K;NGV5.I>K@38'KS9FD6M]-NXZ_P!``/<2;TW^[G=`
M>)N9?^/MT-=JQM6VG_EWC_XX.A&$B?34/^-<#_>S[*U84.>'1AUVSJHN2`/I
M<FW/TM[WJ7&>/7OR/7'6MB+V(L+<L0?K^/\`#WIF`#4\J?ZJ=>J#]O7(.O\`
M7_'\_3C\?['WO4!@GK5033SZZUC@\GU$<*>"!_MS[\30KGK8S7KOR1@7+*`/
MZFUO]@>?>]0H37'7NNO)'_JASS[UJ&#7CU[KL.I/!!^GTO?\VXM[V"#PZ]PZ
M\'1B0&!(_'^\?G_'WOKW7(D`$DV`^I]^Z]UT&5OH;\7'^(_J/\/=0P)H#U[K
MCY8^?6./K_A[V2!QZ]USU"VJ_'UO[]4>O7NO_];9D_GQB_\`+PWT#Q???7W/
M]/\`<G4^YF]A,^XMH/\`EUF_/MX=1Y[F@'EM*\/JH_\``W4/YI?%";Y3?RRN
MKJ7;%,3VMU)U%U;VMU=7TH*9+^-;=Z]Q,F6Q%',I$BG-X19%55N6JHH"/4JD
M>Y*YM/*GNAO#W0!VJ[NYX)E/"C2G22#CM>AKZ:NFM_V0[OR1MTD,>J\MK6.1
M*"I(\-=:^O<O"G%@O1EOY:/RKIOEK\5=C;VR%2G]_P#:40Z][0Q[LJU='O';
M,$---5SP%O+''G*'Q52W%O(SJ.4/L+^YW*;<H<VWEI`I.VS5E@(%*HYKI!.*
MQFH(]*'SZ.N2=Z&][';S,P-W%2.3)J64#2U#D:E(-?,DCRZ(?VD;?S_OCM>_
MJ^-&Z_Q8$?PG="@_[Q[D/:5K]WSF,5&-R3[?B3_/T&KO_IYU@?\`A`_XX_5T
MG=/;6S.A^K=]=P=@Y'^%[/Z]V]6[AS=4/5+)#2A8J:@I(SS-D,K72Q4U-%_N
MRHF11R?<&[-M%[S!NUAL>W0^)=W$F@`^5>+?Z514L?)0:=2)N>XV^TV%UN%T
MU(8A7YDX`4#U8T`^=.J.NKHOYDW\RVBE[JI.]*_X4_&G.5-8O6NT]F8N*J[`
MW;MZ*<K2YK)9)@E2D%3XPPJ6G2.0AA%%X_5[G?=/];/VNECV.3E[]]\RQ:3*
M\C?I(Q%=(7(-/):#RJ?+J,+-><.<U>^BW4V.T%BL:J""P'G@!F`_B+@$CA3I
MK[<WE_,2_E:2;;[<[#[HJ?FA\4CGL3@NPZ;<6%AHM_['HLK5I0T-=!D(5>I7
M4SJD%0TLU.]4Z13(H=2;[19>W'NPMSLNV;$=FYO\-I(BC,T4I!!I04'#46`4
M44$C@>O7DG.');VUQ<;D;[9BX5M0.H9Q4FI4GR.H@D`')'5PO96[-P=R?$G>
M6_OC;NZKQVZ-Z].Y+>?4.ZL3%23UG\8?!29S;L,4-9'4T?W%?50+1R*R,JF1
MOR/<-[98Q['S?:;=S-9*T4%Z(IT<G3\6AC4$&B@ZO+'Y]#Z]NI=RY;N+O9[A
MEGDM6>)@*L#34`*CB::<_LZ+?_*9^5&Z/E9\0]M[M['SHSW:NT<_G-D]AY&2
M*EIZNMRF-JFJ*+)U-+1Q04U.:S&5*!0B*"(KVN?8I]WN5[/E+G.ZM-MM_"VJ
M>-9(ES1011@*G@&!)SQ/17R'O,V];,&NY2]]$Y1R2"6J-2DTI0D'A\NH'\W/
MY5;J^*7Q'S>Z>ML\VW>T]Z;FP&R-AY2&F@K*['5E94BMRV4H:2>.>"HGH\32
M2>ET<$2?3Z>]^S_*-AS?SC;VN[0K)L\$1FE4UHP6BJ"00:,Q`&>-.J<];U+M
M&SCZ.X,=Y-(%5A2H4#4Y%>!TC!IY]+O^6'\ELW\J?AMU?V;N_*MFM_TBY;9_
M8.0DBIZ:6LW3MNNDI:JN>GI4BCA-91M#(;*JL22`/97[G<LV_*_.&Y[98IHL
M7"R1**T5'&`*Y(4U%3Z=*>2MVFW?8;2:ZD+WBLT;L>)(S4_:*''V]`M_-X^4
MO:'QVZ5Z]VMT+N"?;W>'=O:6!V/LFNH:>BK<C#3-+&^3^THJV*HA+UTU3#3Q
M.R$!Y+#GV?>SG*NU\R;YN-YOMN)=DL;5Y'5JZ308!(IY*32HZ+/<#>KO:K"S
ML]MG:._N)30I350<:5'FS*.A?^</R?W+\$?A15]I5S1=@=GX#!;/V51Y#*Q$
M4.=WYD**FQE?NG+4]*(%^S^[BGK9(4T*Y`C``(`)^1N5;'GWGE-J6,V^SRR/
M(RK6J0J25C4YH154%2/M]3#F+>+GEKEZ"9I!+N>E(];5(+D=S$"E>!('F:#H
ME>QOA_\`S2.XMF;=[,W_`/S'LYUEN+>F%Q^YDV)L':&.;;NV:?,TL61I,69Z
M5J&*KEIXIXQ(4#*IN%9@+D=7_.7M5LM]=;/8>V<=S!;R&,22R,&DT'34A@U/
MGP->@Y:\O<\7]O#>7/-;0.X!T**T!%0"5TK7Y#AY'HS'PVQ_\R#K3M[=W4'R
MHR>VN\NF,?A5R>S/D11KB\!N"7(S$F'"9#"Q?;U>1DD(=)PT#?;,JD2LC<A3
MG67VVW/:;'>>5%EL=Z+%9;2A=<'BIH5'J,YS6AKT;<N#G*RW.;;MX(NMMTEA
M/5>/D%(`8_,,M5\B17JU&/A!_K#^MOH/I?ZCW%PKYBAZ'HI0::TZXS$!&))%
ME+&UM5@"?3?\^_4J0!Q/6F-%8UH*<?\`5_EZUP>I>POGK_-*[`[LW'U=\CV^
M)7QXZJ[#RO6N)PNS<+3UV]=Q5.-DD2>;(9)PE4M0]/&LTLC31)&\HCCC*@D9
M);GMW('M1MVQVVY\L#=]]N[83,\K?I@'\(7(%#V_"20!6AZAVSFYMYUNK^6U
MW@6=A"^@!0<_LH6.*EBU!6@&.C0=<_$K^9?T/W!UU7;<^;,7>O3%5EUI^Q=M
M]TXEI\CBL"H^XJ9\/)"9JRLKZL*8X&BJ(FA?274I<^PGNO.'MGOVS;G'=\DB
MPWS16%[8]I:OXAV@`8J"IKY9Z.+78.=]IO;,P<PBYLBU'$E<+Q.#J)J,`A@:
MT^?0@?/_`.</873V]NM/BK\5]KT6^_EGW;$U9@:;(11UN'Z]VHLM1`V[<]3,
MXA+3FDJ'A6H(A6&EFED!&D$L]O.1MMWNSW'F[FRZ-OR?9$!R"09I--=">?F`
M:9)90,UZ7\W<R7MA/:;)L4(DWFXX&@(13CA6FIJ'+=H4%C6@'0(TG\OW^97D
ML7'O+.?S.MZXWM=Z=YUP^'V[`W7&/FE"U!PXH"(!5TD<SM&9OM@='(4VL1!)
M[B^V,4C6=O[8P/M1.6:0>-0<"#3!_P!L*\30GHF7E#G5U%T_-[B]-"5!<K_I
M:B@`^Q/EPZ6?P1^<'>-=W[OCX)?-K%8?%_(G8V-;.[.WQ@X(<?@>U-KT\<4A
MJ*>GB$=-)D7H&%5#-"J+4PI,&19(7'M![@<B[$G+UCS]R.[MRY.0LD3<;=VK
MBISI#=I!KI8@UH1TOY5YCW-MQFY:YD6FZ)4J_#7ISY8;MHP8`57!%0>F?^?L
M+?`:3\W[NZI-[6^M9D_Q]1?VI^[_`%_K^M?^4.;_``CK?N=CEN(?\O2?X'ZM
MFZE*_P"B;J[4P'_&/=FF[&RA1M['%M1N!I`^O(^G^P]Q%O=?WQNHH"IN)?VA
MVI_EST-=J8+M6V<*_3IQ^2+D8\NJ6M\?*7Y=_/CO_L#H+X%[MQG3'2W3F1&"
M[6^360QL64KLAN):J6GEQ&RA-'/'?RTDJQ11*)I5B>222--(,TV7*G*'M_R_
MM_,'N!:O>[]?*'M[(,0`E*U<+2M*Y-2,X!->HYGWOF'FW<KG;>5Y_I]NA8ZI
M\U8@TK6AIJSI0"I`U$@4ZX[_`/BA_-#^->U\MV[TG\YMR?(+,;5HY]QY_J/M
M#;M-646[J6AB:IRM)@3-)4JE8U+&_AIPT#.>$<.%!<V_FWVJYHN8]HWGD2/;
M$E_32XA<C0S&@+@^5<5H?4@=:N^7^<]BMY-QV[F)[EHU+M&0:.!QPY<$C)"U
M4G@,TZL)^`/S1V[\X.BJ7LJ@QG]V-YX'*3;4[+V8\C.^V]VT,2/,(?*/.V+R
M49\M,S^H`,A]2'W'?N%R/<\A\P-MLDWB[<Z^)!)PU1FO;\V3`;[:]"[E7F)>
M9=M-S0+=I173B`2*AAZ!Q4C["/+H#OG[\Z=_=-[VZY^*_P`6MITG8ORT[H*_
MW=H,A&M5@-@8!VF#[MW%#Y$A8Q04LTZ1SLL"0PO-+=%`)S[>^W]AOEEN/-7-
M=U]-RC9TUD"C3OQTHQ!X8!IG-!QZ+.:N:+K;[B'9=DA\7>IJ8.1&/PT7AJ(J
MV<`#4:CH#*'^7]_,DW30#=>_/YF^]MN=BR1BKI<1L?;D2[%P57-J>3'BDU4,
M62I*>4Z-7VZ@J.01[$,WN+[:6CM9;=[8P2;63EY6/C,H\ZYIQ!%#7SKT4#E'
MG*95FN><94NN.D%B`3D#M**<\>VOV^9*=P_,G^9%TC\O/BQ\.^_=WT"54_=6
MTZ3*=E[7Q6/AI.]>J]SY;&XBGCKXWH/$)J2:.9998%IZF.20JZW`)&]MR5[7
M[[R?S7S=R[9/I^A<K%(Q<VLT:,Q(HU?3!J,8QT1/OG.%CO6U[%N=\0R7"!F4
M#]5'(XM056@-"`K`U!X=;`/S'^0E-\4?C/V]W[-B4ST_7>V)LCBL+([)#DLS
M6U$&.PU+621#RQT)R5;&T^DJQB5@#>WO'?DOEYN;.9MJV#Q?"6>7O?B%4!F8
MD>>`0!3!IZ'J5>8=S&R;+>;@L89XU`1?5B0HX#U-3ZT^?52O3/Q^_FA?++K;
M:7?F]OY@&0Z3@[.PM%NO;7776>TL>V,PN!S$*U6,6KGIFIE:HEH9$/B#RM'?
MEM5P)CWOF#VIY1W6[Y>L_;];_P"D;PGEF:A9E-&PVHT/F13CC%.H^V[:.=M]
MM8-TEYL,,<M654'EPR$TJ,@T%33A6N.C,?%S;'\SGH_Y!T75O?&\MN_*+X[9
MG"Y+(#NV>/%[9W=L_(0@BAHJJA405>3J:B9522E"U`\3>1)?2P]A7FJZ]K-_
MV!MWV*TDVKF1)0OTO<\<@/F#\(%,ANWTIGH[V2'G3;-X2PW&47FU."?%)`*@
M?.FJM:=IJ*4-13HZ?S!^4^POAYT1NWNWL`25M'@XXZ/`[>IIHXLANK<]>6CP
M^!H"Y($E5,NJ22Q$4*.Y_3[!')O*U]SGOUELNWL8W>K.YX(B_$Q_P*!Q8CUZ
M$W,.^0;!MDNX3J&:H5$Q5W/`5\J4U$TPH/'JJ;KCH3^:1\TL%0]U=N?++,?$
MK:N]*6'/['Z7ZMPT<.5PFW\A>JP4FX:V1H:M*Q\?(A*3S33R`AI!&Q*"7-QW
M_P!I^2I?W)M'*B[M=PT66XG>JLX'<%&10&O`4!&#Y=`"TVCG;F>$;C?;XUE;
M2]R(@*FGD=*T*@\02Q8@U/ITG,Y\COF[_+"[9Z[P'S!['I?D[\5^TLY#MR@[
MF.'AQ.\MC9F?QAH\VU/&C,:2-O,8IVECJ::.1XI!(KJ%$/+?(WNGLNXW/)VW
M?NOFNT4N;<,625:&FGR%3@$`4-`>(/3<F[\R\DW]K%OU[]9L\IIK/%0*5-2*
M@H,Z23J'`UKUL%?Q7&_P3^.?Q"F_@W\-_BW\4\R_8_PO[3[W^(?<7M]I]K^Y
MKO;3S]./>//@R:OIO"_7U:=-#\5:4I]N/MQQZEKQ8_!\?Q!X6G5J_HTK7]F?
MLZ__U]F;^?#_`-N\M\_^'WU__P"[*I]S-["?]/%L_P#GFF_X[U'GN;_RK:?\
M]4?^!^K(_CQ8_'OHBXO_`,88ZM%K!@0=DX6]P?H"M_\``_GB_N+^9O\`E8M_
M()#"]GR/^:I_P=##9*?N7::\/I8O^K:T_G_JSU1OLEE_EM_S8\KU[>7$_&WY
MY4RY;;41O!@]M=H+52O3QTB!OM:<Q9N>2C8`+_D^3AOZ8@?<\7RM[H>TL.Y!
M"_,G+YHY\VAIY^NI.[YE#Z]1E;*_*'.DMNP*[1?`T(^$$FJ?84>J_)6'ITO>
MTR3_`#_?CH+BW^RS[M'//_+JW1RO'T/^O[+MG##[O6_AB*C<4X?Z9.EUV*>Y
M]D?6`?\`5MNA`_G\9C.8_P"!!QF(J)H*+=G>75NV]R)%(\<-1@V_C^:CAKG0
MZEH?X]A:%W/]DH#^/9=]WV**7W`:61`[P[?.Z'S#=BX]3H9A3S!(X=&'N;(\
M7+:A7(5[A`?]Y<_R(!SBJCSZ0G6U=_/`P'7>QL+LOK'X20;1Q>T-MT.UX4R^
M4B`P5/B:6/&.ZP9V.$3RT01V"*JL[$@<^UNXQ^QD^Z7TUYNF\M=-,QDP"=98
MZLE*T#8%3P`Z*=O?W(BL+..RLK+Z01+HJ%';I%*TD`K3CCCTP=X;#_G;_(#J
M/L'I??\`UE\,&VAV3MJOVOG),=G\I%E:.EK8_P!O(8JHJLQ5TU-E,=4(D]+*
M\4GAG17M=1[4[)?>R&P;O8;UMVZ[U]=;2AT[1FARK4525;X6%14$@XZ]N%O[
MC[I97%A>V-D;61:&FD$4H:@F0@$&A!I@CJR3^7'TIVK\=?B'U=TUW2N(7?.R
MEW!CZN'"9<9W&18B;.U]5A(*:O6*..5$Q,J!D"@(;@>XP]R-\VCF7G#<]ZV1
M&.WRA:%DT'4$4/45-34'/V^?0QY/VV^VG88+'<4I<HS&FH,`I8TH1CSX=5G_
M`,OM9/BQ_,Z^:?P_JO\`<=M#L_\`XS5U?CP@IJ(H\QRQIZ*(DJ-.#RTL<:H2
M!%0-;@<2G[AM_6[VJY+YO5@UY:@6\[5JV5"Y/])D!/\`IAT!^4Z['SIOFPL2
ML,I<QXI0C]10!Y_ILV?Z)Z>OFAI^4G\V#X<_%\!<ELSHFD;O;L:@$@EI1D*,
M+N#&TV1C]44,GVV.HTTM_G(JPKS<CVSR3_R%/:+G'FL_IWM^?I86&"*U0E2,
MT4EC7R9`>E',5-[YYV/90"T%N-<@\O\`?A^W`0?8U.H_\IRID^/WR^^>GPCR
M$@I<;MWL"I[2ZXH'NJG;.1J_`JXZ,D'[>'"9+'ZM/!D#$B_NWNXHYBY-Y`YW
M5:S26X@G/`:U%:D^FM6^PD=4Y$D&T\P<P<MN:`.60<<(:?M\-D_9UR[:A;Y:
M?SK>HNN%!R?7_P`+MB+OS<L81)\?'O>MB@S5''.%#*9ERE;C4&IBT<U,0?Z#
MVS:>3_8_=MQ8%-QWNX:*,\#X0)0T^6D.?L;K5_\`\B#W&LK,"MO8J&:O"J4<
M_P#&F0?:#U;M\K_C/L;Y;]&;RZ+[`EK*/#;JAII*7-8Q8_XEM[.8VI2MP^=H
M%E)CEDH*V)6,3^B6,E&X)O#O*/,VX\H;_9;]8T::)LJ<*5I1E)IYC(/\0&.I
M!W[9;??MLGV^X<KJR&I4JP-5(]:9J/,=4N;;H/YQW\OW#T6R<!M?:7S9Z(V7
M3C';8\,C)OW%[6QT9%#0Q&.2EW)$E!1Z8DBE&2$:*$BM&B@37/)[,>XMQ)?7
M5]-L>_SL3(#41,[$U8,08SJ:I)JI/%NHY7_7`Y6`A@B%[MD8[<:Z*/2A$HX\
M#JH*`8'1^?A#_,WZH^8.;RW6&3VUN'ICO_;%/+)N'J7?*F#(S?8@?Q*;!5,T
M5-/7B@/JG@DBCJ84(9E(]7L`<]>V&Z<F)!N\-W'>\MR_#<1G"UKI#BI`K7#@
MZ37H3\M<ZV?,,QL9X6M]R&2A-02O$*2`:_T2*_LZL\B_0/K_`+'G\#\_X^XP
M12JZ3Q'0YZZF%X9?^6;_`/0I]W\U^T?X>JO\#_8>J$/Y`P`Z@^5?]?\`9J=\
M7/\`4^-!?_#@>Y]]_?\`DK<I_P#2JC_X\>HR]L:BTWI?(7/^0]7V3#U(?KS]
M"+CB_/\`L`?<`,#W:::Z8_R_ZO\`/U)Q]:T'VT_+_5Z=:K&X\C\R\U_.4^6V
M=^+6W^H=R]G;(V-M?;U-3=T5D]/C,+UY5[<VA(/[JF"LH:E*RIKW\LH5O2E0
M_P"'/O*VV3DN#V8Y/@YHNKI-KGG9S],!J>4/+02=K8`K04'PC/4(W/[\;GK=
MI-DCC>_B!`$A&D(54=H++QKC.-1\B>CX#<_\^@`:>M_A-8#@#-YZY'XY_O%;
MZ6_P_K[`0M_8`TINF^4/]%.'E0>'_AZ$8F]T:`?265:?T>/_`#E/^;H!</\`
M$?\`F==J?/#XW?+'Y`;/^/.W'ZDJX<#N&OZNW7-1UE?L>=LFM>*RBJI:^KRU
M93Q9>=(E\JJ(Y"MN>3V;F_VMVGD'F?E7E^]W&3ZQ2RB9-2I(`NFE*!<HO=FA
MJ:8Z+!L7.M[S#MF[[E;6ZM$Z5*,@&D$UJ*EB:$TST8+^?L;_``%FO^.[NJQ^
M?^5S*?U`]A_V`%.?O^H&;_`.CGW/_P"5<A/_`"])_@?JPO<F5RN"^%^4S6"6
M5LUB?C34Y#%>$$S+74O6QDIWC506+HXU#@V(O;W'<$4,_/$,-P?T&W.C?89Z
M'C@U%>A'++)#RA)+""95V^H_*('_`(OY=:Z/\KF;^:)B/BY29'XD;(^+F9ZQ
MW1OO=^8K,UV7D\E3[\R.Z(ZF"@S#9TTF4I%D$)I$6#6I;Q$,#9K^\C?=4>UT
M_-1AYOO-SCW6*WB54A4>$(R"RZ:JU/B-<^?#'45<GKSDFU._+D%LUF\K%F<`
MMK`4>;J:4`I4<#U8PNY?Y\Q`#=<?"9[`WMF<Z5+`V/UW']-/^/\`M_I[C?Z3
MV!)U?O+>PQ(IVK@@^7Z=*TJ*_;PZ%QE]SBP"VEB%+#R'#_G)Y$8_GU,_E2?#
MGY3_`!<[`^3>Z/D!A>N]OXWN_+83=5)B>O=Q#+8FEW-!D\]5Y!*7&B'5BL<(
M,Y)XM4CDW`)-O=/=KG'E/FO;N6K;ER2X>>QU(QF322E%`)/XF.D5/GZ=:Y%Y
M=WO9;S<YMR@5()XU.'4D,K,:`+P`UGSX#H,OB!$F]OYT_P`^-T;L9JC/]>[*
MP^U-E0UC":7'[?JYMNTU0^.\MI(4-/`O*6LE2Z_1R";<X_XG[(<@VMHVF"YG
M+R::T,FF0]WE\_M`/ETBY>`N?<7F&>X*F6-'"`YIW(N*^BX/VG^(]7\I``.2
M1SQIXMP`/I_0<>\?-`J"/B_;Y^GIU*XX')R#]N?GY_+^75`?\V+'TD?SB_E6
MY)88OOW[VH:!ZL*HG>BCW1MRHCIFE(U&!)IF8+?]3'WD-[1R2#D3W4MP](_H
M7/V'PF%?E@`=15SR`.9N4R!WF11^R5>KI^]>E]F_(7J+L#I;L&">IVAV/MNM
MVYF122"*LIEJ`)*/(T,I#+'78RNBBJ82RLOEB&H%;@PGR]O=]RWO&V;[M[@7
MUM(KK7@:5#`^H9201Z'J1MSVZ#=+&ZV^?^RE6A/H?(CY@T/Y>AIU0]M7J3^;
ME_+FQ\6RNCWVC\Q_CEMJHF&U=JYPQTF]L%@VDDJ6QU'$U70YC'F+4Q,4%15T
M:$D0PCW.UQO'L][E2"[WX2[/S-+76ZXC9N!)XJU3FK*K>IZBZ*QY[Y2#16.F
M]VM"2%H"/7"XDC/J%++6M!ZG6^&O\U;K[Y);^?H?M+K_`'+\=OD7`)H_]'6^
M$GCI\_6TD;3U=)MZMK:>@K!7Q0@N*2IB262-2R:@/8)YU]H[_EG;#S#M-_'N
M7+1XS1G*\*%@"P*DXU`\:5&.A'R[SS;;O=#;-QMS:[E6@4DT8^@U`$-_189'
M`]$Z_GV56]LE6_!S8NU*;%UR[F[HRE938[<DC0[3K]X8MMLQ;3IMRNI1?X7+
M49&:.74UC$[_`$Y]C3[OOT<$?/%[<O(IBM%J5%75#XA<K@FJ@5&G-0*4KT'_
M`'/:<R<NVNH:"[FAH`7!C5037AW4^8KGH;HMQ_SXXE6*+K7X211Q*D:1QYK-
M*D2(H"1HB[B`1(U%@/P![)%MO8$COW;?#*2:L56IJ2?X.C%9O<\*JK9V(H*4
M`6@^0_5X4IT6[Y7?'S^<S\Q^H\CTQVWUQ\0H=K5N7P^<BR&V-R5M#N''Y##5
M!GIY<=7Y#(Y2"D$ZLT4Q$6IX79;V/L2<J\Q>RG)V\1[SM&Y;NUPJ,I$B@HP8
M4.I5"U'"F>.?(=%>\;7[@;]:"RW*RM3!J#=I5345&"7:F":XSP\^K=?]%/=7
M_#>O^A+5BO\`3]_LJ_\`HSU?QQOX+_I(_P!&W]W+?WB\=_X=_&N/N=/^;]=O
MQ[B/]\;)_KB?OVK?N#]Z^-\'=X/C:ZZ*\=.=->/RZ'/[MW3^IW[JUC][_0>%
M6N/$\/1\5>%<5_.G7__0V9/Y[,<]1_+SWTD,$T\G]^NOV"01F9P%R=1Z@D2E
MB%/)X]S%[!L![BV1\1:_339J`.`H,^?'J/?<P5Y;0UI2ZC_Y^ZLF^.08?'[H
MB-D967IGJ]9%(9"A79.$!4@V92""+$7'T]QES*0_,>_@X)OI\5J?[5^/R(IT
M+]C:NR;2*_\`$6+_`(X.B4_S9_BA6?)SXKY>KV535'^F7I/)1]M=3U]`#_%O
MXO@(S+F\'02*1+Y,WB(V:-$(+5E-3D\`@CKVDYL7EGFRVCOF_P!TE\/`N%)&
M@JV%9J\0&P3Y(S4ST'^>=F.[;,\D*GZVV/B(1\1"_&@XY9:D8J2!U3A\)?D?
MF?FC_-,^+_:,N`ST>Z^M?BYNG9_=$U305$4&-W;@<9EL7596HED'[-/FJJM@
MTB30QJ9F6P(M[FCGGEJ+DCVIYKVQ)4-G<;DDMN`0:QNZG2`.)C%>&*`>=>H[
MY8W6??N;]FN95)N%MM+G%"44@L*9%?/5C5CB.MAGYM_&?%?+WXS]F]$9&HAQ
MN0W3BJ6LVGF9HS+'A=Y8"NAR^VLA*``PI'KZ0055N3232@6)!]XX<D<SR<F<
MT[5OZ!FBCDI(@--<;KH=?M`.H#U`ZEGF/:6W[9;RQ1@LK`%*YHZFHKZ`TTU]
M&/#JI?XQ?S0:CXB;2Q'QC_F,;-W[U=O[JVEIMI8+M)-M97<.T=\;:Q@2BP=7
M-74$4SFJ%%&BK40"6&>)0QT$$&7^:?:K^N%U/S7[;WUO=[?=OK:$.%D1SEB5
M;@`:U4T(^8X`#8N<SL$"[)S3:317,(THVFI91P6G$TX!A52*<#7H<>P/YV_Q
MTKJ27;GQ;V=V5\GNU\F1C]M;3V?LW.X_#OEJI?'CSFLS647GI\?YF&LP0N3;
M3J0'4".Q]C.9(Y1/S5?6NU;4#JDDDE4L$%:E0*CY"I`%:YZ,[[W+VO$&T6<]
MS>D8725%?Z7%C]BK4\/GU;;UCG]R;MZ^V;N7>NTJO8>[L]MG$9/<VS*V>*JJ
MMLYFLI8ILAAIJF!Y(Y?M*DLOZB;"QYO[AO=+6VM-QO;:RNQ/9QR$1R**"10>
MUA@<1QP/ECH>[?-<7%A;S7=OX,[Q@LA_"3Q'[?\`57JCO^;!0UGQH^5GPN_F
M#8?'Y(;;V)O"GZ\[HKL/2/431[+R%1)'+/6^(%W-;M_)9"DC+'3Z54>I@#/7
MM*\',G*7.7M[*X-U/"TMLI`^.F*$\`K!2?MKY=1ISS"=HW_8.9HJ@"0(YH*4
M0U/V:HV=3ZTXUIU/_E,XS*?(3Y%?,W^8%G\=DH<1VKO&38?4=5EZ66&638F*
MK14K)0+5()4AI,70T%,CI_8U1DG20&_=Z:'ESEODSV[@E4SVD8DN`O`2%:$$
MCCW%VQYT/5N0D?=MWY@YFFC[7E*QGC@FK:3G@BHN,>G2#_F#[A@^#W\RWXX?
M.C(X[+0]5;\VK7=:]P93$T4]6B/2T-;B`)X(1HFK$Q-535%/&VAIIJ<?73PO
M]NK9^>?:_F7D6-HSNMO*LMNK,`6#,K5`)X:@RGT#>?2;FEOZN<Z[9S"Z,;.5
M!KH.)4%&`H1G058#S(^WH5_Y*^R=Q[RH_DY\VM_8RKI-T?*+M[<&2VS59*ED
MI*P["QV6K*V.2ACE%_X16Y"J41A?1>DNMUL?93[X7UM8/RGR/MQ!@VJRC5P"
M"!*10ZM->\`5/R85STN]NK66X;=^9;H?J7,A"GY5U.?3+$#_`&O5A/SD^2?9
M7Q7Z>':W7G1^6[RBQN<H*?=F*PV1>FK-L;<E<"NW"V.I:*KKLK'"ETT1:1&S
M*[G2/<<\B\L[;S9O/[HW3?X[`O&VAG`H[_A6I(`SFI/"M,D="KFG>K[8K!+R
MRL%G.L!B2:(O$L=()SP!P`>)IT7+:W\Z'^7QN+`4F:K>YO[I9"2E0Y#;6Z-N
M9ZASV&K!"#4X^K@6AGBEJ*2<F(F)G21AQ<$>Q+=>R?N#:73P1[.)H*]KI*I1
MEK\7&H!'D<BG13%[C<KR0^))=M'*14KH8D&E2!IJI(^1H>/5?>U-_;3^>_\`
M-IZ2[]^*>U-QT_672VTIXNVNZ)-MU&VL5O:>F;+-%CVJ)X(9,D9Z6LBQJ"4?
M<RQ)<@1(GN0KBQO.0/:/?>7^:[E&W2]D_0MPZN44E1PK2@(+^0''B3T#X;FW
MYJYYVS<-DMW2T@"M)(5*ZBA))('FP8**Y.3Y=;,<?Z!_O'];?X_X^\9P214]
M38!3SZX3_P":EL0#XWL?K_9;\?7W[.I:<:]>;X&^P]4*_P`@N&HAZC^58J()
MH"_RIWP8Q+#)#J3Q)8J)%4L/\1<<_7W/OO\`MKW?D]A2AVF/@:UR<_GU&/ME
M3Z;?*?\`*3_D/[/LZOL=0UKG\&UC8\CZBWU/N`2M3U)]*CAPZH=^?'3/>GQH
M^6^S/YD_QDV;6=C4D.U%V+\C^L,1#45&6W!MB!D1-P4=-3)+43:\9%#'*\:.
M]--04[E2C.#/?M_O7+O-'*5W[8\T72VK^,9;*<T&B0Y*5-/,U"D@$,U,]1;S
M98[ELN]P<V[3;&5-.F9`."\"6IDJRT&/A*AJ$$]"OMW^>7\!,C@1D-S[UWAU
M]N"FB0YC9&Y=A;A_O#C*P@*]`104E525DD;@B\;\CDA?I[)KGV(]P(Y_\4LH
M;BUKB42J`PK@TJ"*BN"/+SZ7V_N9RT\(>4RQRG\&@D@@5(JN,^1QBG#H0OC%
M_,9RGR[[T.UNH?CKV73_`!ZQVW\O-F>_=X8^;;F/.Y(FIY<%0XS%521QU&,R
M4"RC4)9*@M8E$16NAYJ]M(.4.7UO=XYEMCS$\@TVD;:R8_Q,Q'G7B-/"OG3I
M_8^<YN8=R2WV_:9!MF@EI6XAOP\*K3AC46SP`!Z!K^?A#-4?`6=8(I9W'=G5
M#Z8HI975%KLF&8I$&8_7Z\"Y`]FWL`Z_U]9W<`?0S_RICR_U<>DON?0<M1FO
MPW*?MTN/\O5JW6V.I,MTQL##9.!:G'Y+J[;..KZ60LJSTE=M>BI*NF:Y$@62
M"5E8FQM]/<4[O(\6^;G-"]+A;IW6GE1S0_M..AEM\:2;18PR"J/;(I'E0H`?
MY=:_'4^_>Q_Y+7;/9O5/;?7^\][_``@[*W;7;YZQ[0V5B:G./UYD<@^BHQF5
MI(OVXX%H$BAJZ:1HW5J>.>$N&D5LA-YV^Q][-KVS=MGW"*#G2WB$,T$CZ3*J
M\&4^I))4@<"5;`'44V%Y?^W>X7-I?6S2;!<.3&ZXH:"AJ<5TBC(:'`8&E>CL
M9W^>/\!*'#?=[7WKO7L'/U$&K$[+VIU[N.;<63J0+K11Q5M)2TM-,]S_`)QQ
M_A?\@>W]B?<&6;1=6<%M"#W223)I`'$]I8_/`J?ET)YO<SEN.-VB::27';H(
MJ?M)"_LJ.C>_#/Y$]G?);KO-]B]C=";FZ#I*C=%5#L/#[KF:3+[BV88$FQ^X
M*FGFIZ6HI*B1V=9%,4<9XT:N?8/YUY;VSEG<8=MVSF&+<6$0\5D^%9!Q7SJ/
M+C7H]Y:WN]WJTN+R^VQ[:(./#K4ZD.01JH:^M%`-13'59_S<ZI[U^'?S)P_\
MR;XZ;#KNT=EY[;\>S_DOUGA(IY\Q+M](Z6FJ]PT=-3++5RM+#1TTZSHDHIJR
MC3R+X78&3^1MWY?YQY,D]L^8KY;2[27Q;.=B`NH$]C5QP8U%066H&<]`WF2Q
MW'EWF`<W;7:^+;N*3(*U`("DM3(#!0=5.Q@*U!(Z'/`_SR_@%DL(F0S>^]Y[
M/S:1H*[9NX.O=Q_WCHZV0A3C_%0TM5254ZL0MHY#R;FWX([CV)]Q(YY(X+*"
M:"M%E65?#(\FR58`C_4>C6+W+Y:>(/))+'-YKX=2/.E5J/S_`,'58/RM^9%!
M\POF_P#R[<ALKJ'M79VP]F=^[?\`X+O;L+;59@(-\R9#<F$%3+@\=)3LR46.
MCI@S.\I8Z^5`^LI\I<FOR;R7[BPW^\6LU_-M\E8HFU&,B-Q1OMJ<4'#B:]`C
M>.9+?F/F/EZ2"TDBM4F0(7P7K(M<4I0?Z8_9UL1_+[NCLWH#H?>7:W5/4-9W
M;NG:L$-2VR<=7RT-7_"S(PR.<\4%-4UV4I\/`IFEIJ<"HD2^@BQ]XW<G;+M7
M,7,%EM.\[L+"SEJ/$*@AFIVIF@74U*%L>1IU+O,6YWFT;9-?V-AX\BG(KP6I
M[C0$D#S`X`U]>B8]>?SJ?@;O#;6.RFZ>S*OK'<STT(SVR-YX'-4V9V]EQ&KU
MV->HAHGIJY::;4JRQD*ZV)"WT@;;A[(\^6MW)!:;:EU;5.F6-T*E34!LD4J,
MTXYIFG0;M?<OEJ>W62YG>&>G<I1FICR*@@CYX/5=O<?;W7_\Q_\`F'?#;+_#
MK;^XL]!T;O/';F[8[UAVU6X'#IM;"9NAS$F"GRE730U-;3QT]%-3KYK,S512
M)2K,3(VS;-?^VGMQSC'SI=Q1&_A9;>U,@=];)IJ%!.@U-21Y+GH([E?VO-W-
MFQR[%"Q,+H7D*T-%97J?,``$`M2M2!U:Y_,^^'6:^8_QW.&V#6IB^X>L=QTG
M8W4N0DF^TU[DPRF1\.:IK+2G+11A8I6],50D;,"`1[B7VMYSAY*YF\>_4-L]
MRAAN!I#`1L<,%-:Z:YI2HK\J#WG7E^7?MJ'TIK>0MK3A4XRM?(GR^8`Z*7T;
M_.CZPVAM[&=;?.S:^^_CWW[M.GCV[N[^-;,SU3MK<^6Q:M256<Q532T\\](<
MB:;S2QL'ACD<^.5D(L,=]]C]VNKF3<>0KJ"_Y?F;7&1(BNJL254Y6M,@'CZC
MH/[7[D6L$(L^8K>:'<HNUR$-&*CB4^)3ZK3CD8/2KW/_`#G.O-]9K$;%^%O3
M?:7REWYE<O244CXK:^7VYM#$4GWD<>1JJW+5U*DTCPTX=HP5AAN+M)86*.T]
ME[^QM[K<.==[M=JLXP:`N))':E0%4-2A(`)K\J>KEW[DP3NMMRYMTMY>DB@*
MD*0>.!5J_,Z5%:U\NKFOO:S^!_Q#^&R_?_PS[S^#>>#[C[S[/[C^%?<:OMO/
MYOVM=_'J]7Z?<,4A\71X_P"CKIK^5::J?SI^74CZW\#Q=)\33JTU'&E=-?Y5
M]<\.O__1WY<GB,7F*9Z++XS'Y2CD9&>BR-)3UM*[QD,C-3U44T+,MC8E;C\>
M[)))$PDB<JX\P2/MR.FY(HI1IEC5E/J`>'V]2X*>&GCBB@AB@B@C6&&*)%CC
MAA0*J111HH2.-54!5%@`/=:ZNXDU/KQ_/JX55H%%!3AUD=0WU740.+_2][C_
M``^ONI%34\!UO\NDOAMC[-VYD<CE]O;2VO@LKF#KR^3PN`Q6+R.5;5Y`<E6T
M-+!4US>3U7E9^?:F>]N[I(H[B[D>).`9F;3_`*4$D#I/%:6EN\DL%K&DC\2J
MA2?M(`)_/I4:%TG@#_7_`-[]IQ]E.GR`2#3I@W#M':VZZ9*3=.V\!N:DCU%*
M7<.&QV:ID+KI?3#D::HB34O!XY'M^"[N[23Q+2[DBD]49E/_`!DCIF>UM;H:
M+FVCD7^DH;_".H6V]@;%V<+;0V5M/:@,?B/]V]NXC"7B)#&,_P`+HZ6\9/XO
M;V[<7]]=U6[O9I0?XW9O\)/5(+*SM<6MI''_`*5%7_`*]*Y5"BP`'^L+#_;>
MT048QTI``K08Z:\UA,/N+'U&(SV)QF<Q59'XZS%YB@I,GCJJ.X(2IH:Z*:EJ
M$U"]G4CCV[%//;2I/;S.DJ\"K%2#Z@BA^7'JDL,4\9BGB5XCQ#"H_8<'KO$8
M;$8+'P8G"8K'8?%4D8AH\;BJ&EQV/I(0/3#34='%#!#&M_HJ@>]SS374C2W,
MK22MQ9B6)^TDDG]O7HHHH$6*")4C'````?8``.H6XMJ[:W;CWP^ZMNX+<N(D
M>.1\7N#$T.:Q[R1,QBE:BR-/4TK21ZO2Q6X/O=O<3V4JS6D\D4PP&1F4T^T$
M8ZU/;V]TGAW,"21_PLH9?MH0>G3'XW'XNCIL?C*&CQ^/HH8Z:BH:&EAHZ.CI
MH5"14]+2P1QPP01+PJHJJ!P![;=GE9GE<M(QJQ)))/J2<D]6CCCA18XD"H!@
M"@`^P#J0\:N"A12"""&"D$,"&!4_4$'G^H]MT`(IQ^WT],'JY`(((P>@8S/Q
MN^/>XL@<OG^C>ILOE"^M\A7]=[4JJR1]>OR2SS8IY)7U?5F+$^SZ#F;F.UC,
M%OOUXD/HLT@%.%*!O\&.BN78=EGD\6;:;9I/4QH?\G0HX/;>WML8^/$;;P.%
MV]BH6+18S!XNBQ&/B)54+145!#3TT9T+:X7Z`?T]E-Q<7-Y)XUY.\LW\3,6/
MKQ))XD]+X8(+=/#MX51/10%'[!T]@`?3Z?4`6L.!]+?U//MKIW\NNFYXM?C^
MA(_XI[T?*O#_`%4Z]Z@\.FO%X3#X5)DP^(QF)BJ96J)X\704M`D]0_ZYYTI8
MHEEG:PN["_\`4^W'FFFTF>5G8"@J2:#T%>`SPZ;CBBB#"*-5!-30`5/J:<3\
M^G;W3ISK@P!-[&X%@1S_`%XXYO[]UZG0>U_4?5&6R)S&3ZQZ]R67UO(,GD-E
M[;J\AK<@RO\`>U&+EJ=;M^HZKF_U]F$>\;O%$88MTN5A\U$KA3]HJ!_+I"^U
M[;(Q>3;H&<^9C0G_``=+JBH:+'4L%%04=+0T=,@BIJ2C@CIJ6")?I'#3PJD4
M2`_A0![+G)ED>:4EI6.2:DG[:]+%1(U"(@"#R`H.HV4P^)S5.:+,8O'Y:C+1
MRM1Y.BILA3&2)M44OV]7%-"98VY4VN#]+>[1/);R>+!*R24I520:?D?/JKPQ
M2KIEB5DKP(!S^?4V*G@B18XXD2-%5(T10J(B@!415`550<`#@#WKB.->G```
M`!0`=1\AC<=E:2?'Y.@H\C0U*A*BBKZ6&LHZA=0(6>FJ(Y()4#*#9@1<>]QO
M)#(LL$K)*.!4D$?F,]4D1)49)45D/D0"/V'I%8OJ7JO"5YR>&ZTZ^Q&2:83G
M(8O9>W<?7&9>5F^[IL=%4&52.&U7_/M;+O&[3((9=SN'BX:6DD(I]A:G26/;
M-MB;7%M\"O6M1&H-?6H'0A!1]2HO]/Q_Q'^/M!09!X=+>N+(OUTK>WUM<_UM
M?^A_(_/OWR\O\O6@`*BG'H/JGJ7JNMR7\8J^L^OZO+J6*Y2IV9MR?(C6X=R*
MV3&/4@NP!)UW)^OLP7=]V2+P(]TN5B_A$D@7]E:?RZ2';MN9_%-A`9/XM"U_
M;2O2LJL'A*UL>U;AL55MB)5FQ,E5CZ2=L7,JHJS8XS1,U#*%10&BTFP`^GM&
MLUPGBZ)G'B8:C'N'H:$5^PXZ?DAA8QEX4)3*D@'3]GIP\O3ITTCZ@6(`&H@7
ML.;7YXYN?Z^V:?D>G:4H!PZ![<?QWZ%WC6MD]U=*]5;CR3,7>OS.P=L9"LD=
MC=GDJZK%R3RN?R69B3[/+3F/F&Q3PK/>[J*+^%97`_8".BR?9=FN6,DVU6[N
M?,QH3^9ITO\`;FS]I[.HOX;M#;.WMJXXE":';F%QV$HV9!H0O38VGI82R`V'
MIOSQ[+;J\O+Z0S7MY)+*<5=BYSY58DCSQPX]*[>TM;1/#M;:.-/15"C]@Q7I
M1V#<V%_ISQQ<D_3^M_:<@'B.GZ=)+<NP-B;R"KN[96TMU!(A$AW+MW$9Q4B!
MU"-?XG1U6E0W-AQ?GVJMMPO[(GZ.]FAK_`[)G_:D?ZATGGL;*Z-;FUBD/])%
M;_".IVW]H[6VI"U+M;;6W]M4KB-7IL!AL;AJ=UB&F+7%CJ:G1_&O"W%@/=+B
M[NKM@]U<R2MZNQ;_``DGJT%M;6V+:VCC']%0O^"F.G_2--K"U_\`4C^EOTVM
M]./];VGTKIT4&CTIBGITHKY4Q]O7_]+?X]^Z]U[W[KW7O?NO=>]^Z]U[W[KW
M7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^
MZ]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7
MO?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z
$]U__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>suppcover.jpg
<TEXT>
begin 644 suppcover.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@"J`.5`P$1``(1`0,1`?_$`28``0`!`P4!`0``````
M```````*!P@)`0,%!@L$`@$!```&`P$```````````````0%!@<("0$"`PH0
M```&`@$"`@0%"@\'#0<-$0`"`P0%!@$'"!$)$A,A,10*05$B%19AD='A,K47
M=[<Y<:&Q8G(C=K8WYSAH>*@:@4*BM!@9.L%2,R1T-74V5Y=8N-CP@D,EI]>(
M\;*S--169I;6F,B92I+24V-S1%1DE=4F)RCH66EY$0`"`0,!!0,%!@T-"@@(
M#`<``0(1`P0%(3$2!@=!$PA182(4"7&!D;$R%:%"<K(S<[,T=#4V=ACPP=%2
M(Z2TY&5UM3<X8H*2PM)3)!87.>&B@\-45=49\4-CDY0EI5;BTV34E<5&AI8G
M5TE$Y2:FUF=W_]H`#`,!``(1`Q$`/P"?@```````````````````````````
M````````````````````````````````````````````````````````````
M``````````````-I97RB>+!,GSG/AP7'7UYQG./3C!NF/0.4JU\RJ'LA*7[6
M+?NT[#%KW'>Y)/=OQMJ^7_R>'.VZQL=2V,%K$79A:*SKT]76T0^80BR9:!=#
MO7,]'O'BR9C9;8(6//C&%,F^3=+I+TUM]4<V_A2SUI\[,:_8>_KM\G>V:5V]
MKW%M.HG4.7(5C!O^I>MK,;3_`'7NN[HHO_-7.+Y2_:F*O'O,><XZYX3]/3GI
M_P#U(>LO7/A-_`+_`'Q>F?[HNPO#)6O_`*[W2:^\_(VJ_?7;2I:V7B.X9.*T
M:J3_`.E_Q8U_M,?\RG^L?_$*.WZ,?\M_O/\`C1Q^DA_(W[[_`(J/[3'_`#*?
MZQ_\0H?HQ_RW^\_XT/TD/Y&_??\`%1_:8_YE/]8_^(4/T8_Y;_>?\:'Z2'\C
M?OO^*C^TQ_S*?ZQ_\0H?HQ_RW^\_XT/TD/Y&_??\5']IC_F4_P!8_P#B%#]&
M/^6_WG_&A^DA_(W[[_BH_M,?\RG^L?\`Q"A^C'_+?[S_`(T/TD/Y&_??\5']
MIC_F4_UC_P"(4/T8_P"6_P!Y_P`:'Z2'\C?OO^*C^TQ_S*?ZQ_\`$*'Z,?\`
M+?[S_C0_20_D;]]_Q4?VF/\`F4_UC_XA0_1C_EO]Y_QH?I(?R-^^_P"*C^TQ
M_P`RG^L?_$*'Z,?\M_O/^-#])#^1OWW_`!4?VF/^93_6/_B%#]&/^6_WG_&A
M^DA_(W[[_BHS[S)C&,YSPIZ8QZ<Y_P`H_P#B%!>&*KI\^?O/^-!>(^KI\S?O
MO^+&;O@'S78<Z="EW8RHB>NED;S:J1)U(EN-<CQCNN.&V6[A::-5JEE0\K%/
MVSO"6&>,)$7*7QG]8L'U%Y2N<@\Q?,3O>MV^#B[W@[K9N^1QW.VOTW87FZ=\
MZ0Y^TF>IJPL2Y;GPNWWG>_2J5>+@M^6FXO?]H_6?#G^^^+/3_6BBX3XX\7N_
M'0K:,N*-1Y_ZS_"^T.YV'G_K/\+[0`>?^L_POM`!Y_ZS_"^T`'G_`*S_``OM
M`!Y_ZS_"^T`'G_K/\+[0`>?^L_POM`!Y_P"L_P`+[0`>?^L_POM`!Y_ZS_"^
MT`'G_K/\+[0`>?\`K/\`"^T`'G_K/\+[0`>?^L_POM`!Y_ZS_"^T`'G_`*S_
M``OM`!Y_ZS_"^T`/QESG'3]KZ^OK\OU=/^]]/4<1E"G%-\*.]F#N1K+T9^3>
M<!9[;&U*'?V":5;,86)CY&5EY-X[*V91D=%,'$D\>O%S)F(BV0;-3&,<W3&.
MGPYSC&><2-[.S;>%AP=R5R2C5>5NBV=M?=V$-FW[.GX>1FY<HPM6;;DJNG%1
M/8NU;:+<]]:;",]/^\KQ#";F&=?XB%LT"SE'S6%L1.0*\42>C$'"B;*7)&NM
M$JN8\D@W*57"*AC'3P;IG.<^D93X?AGEDVH7+FL]VY=GJ=:?OI&,]SQ']W?=
MGYFK1TKZW_%3B/[3'_,H_K'_`,0H]Y>&*DFOGS<_^A_QH?I'_P`C?OO^*C^T
MQ_S*?ZQ_\0HX_1C_`);_`'G_`!H?I(?R-^^_XJ/[3'_,I_K'_P`0H?HQ_P`M
M_O/^-#])#^1OWW_%1_:8_P"93_6/_B%#]&/^6_WG_&A^DA_(W[[_`(J/[3'_
M`#*?ZQ_\0H?HQ_RW^\_XT/TD/Y&_??\`%1_:8_YE/]8_^(4/T8_Y;_>?\:'Z
M2'\C?OO^*C^TQ_S*?ZQ_\0H?HQ_RW^\_XT/TD/Y&_??\5']IC_F4_P!8_P#B
M%#]&/^6_WG_&A^DA_(W[[_BH_M,?\RG^L?\`Q"A^C'_+?[S_`(T/TD/Y&_??
M\5']IC_F4_UC_P"(4/T8_P"6_P!Y_P`:'Z2'\C?OO^*C^TQ_S*?ZQ_\`$*'Z
M,?\`+?[S_C0_20_D;]]_Q4?VF/\`F4_UC_XA0_1C_EO]Y_QH?I(?R-^^_P"*
MFG]ID+@Z93<*\$PH;),&-R0Z8P;P',3&>NAL8^68N"^O'3J.UKPPJY?A9EKG
M"IUV^I[J1;W>M]M*;PO$>Y245HN__P"5_P`5,W'`7F18>;.@FN^)G2KK2\;-
MV>;BZE#N;N2\$L]9BDV*2%P9RF*E3U&[20E%';8J!VF3%,SR?QF*?'3'WG?E
MBWR?S%#0;62LM2C)NXH=W2E:+@X[F];?E*E2]'*7.$^9](OZK/%>,[,XQX.\
MX^*KH_2X(4I[CJ7UBDBM@```````````````````````````````````````
M````````````````````````````````````````````````````````````
M````^5WGHF3'RL>)4I<^$QBYZ9*;X29*;`ZRDTXTKMDE[QXWI27#&/TTU%^X
MS%)WD="R>^^"FT(RM,#R-LUTYB=N5]F@G@RRWT/<9^DV4/[\S@M.?2.2)EP;
MSC8P3PYR;`N=T?YEEROSS;G&?=V;R=MMM)/B7$EM\LE%+<Z[%O:=MNLNA6=4
MY$OYSMJ63@?ND*)N6ST94IMVQW^YYB`\GG!B$/CQ=%"E5QXLER;.%<84QGY/
MR<8S@W7&,>C&/0-@^/)3LQFMJDJ_#M_7,$$^+:?H>QR`````````````````
MZ^')38]9#D.7KTSCQ$-@Y>N,^C./%C'HSZ,AQ*/I-T25?@.5VUW<+^)DB_W>
M+D/(U3=6SN-DJ_4-5MFU1;9-9275\:<?=*(FV;S;9DF;&3Y5LM2=X.MU-G!<
M0Q/!C&3'R;%_Q%<K0O:);YMQXQE=A-0G);7PO8JM>2327NR\NV_WAYUZ]:U^
M>B.Y2Q?C-QC5).2H]B\NQ[O-Y-DP%(QC)X,;&<&SDV<XSDN>GRS>CJ7IC.,8
M]6?7T]?I&(&.ZV8O]6\R]2HVO[I_&S<'L<@````````````````````````&
MG7'QX`55:=HP;&?5G&?T,X"C6\Y::WG'.7)$&:IU':3;RFZBIUE%44RI$QA3
M)E#*+=44NA"9S@Y\9(7..IL9QC.!"6[4M4Q(V['WPWN^FW^1;?<V'3(N*.4\
MB4E#$C'Y3:4=WE;IYV0_N\IW15=OV.3XL<=+H<NI:YB1B-R6Z$<)89[+LJ<@
MCA:FPK]!!4[VI039IE)PNW=%0?N7*J2A#E;D.?+[H_TNAH5FSK7,.+"63?<>
MZC).4K2@XMR::I&<V]CVM+96+<HF'O6?J=E:GFV=%TB[=CAVY75-PIPSKPJ,
MG*+=8*C:3V.M:.B(\3L^,N<I%-XL8/\`=9\6>N3=#9\6<YST\/7IZ/1TQZ!E
M9FW;;OPM652/FW%A81K9[]K:UN_5Y3\9QT]'Q>@>3WA.JJ:#@Y``````````
M`````-<^C/3/HS\6?1GZP+TGPQVR.$T]VTJGH_3MBY`;BUKI>KLG+N:V)<(2
MMI&;DR;YK8R#Y!M,V!QG'H(A6X99P_ZGZ)F.V*0_4ILXS)>8M2MZ-I.1J5Z2
MAW%FY/:TGZ,&W2O;3<NU[.TGG+>#/4M;Q\2VG+CNQBZ*NR4DMOF;HF^Q-OL/
M2<UW0*AJVBUK7E#AFU>J%,AXZO5^*9I^6V:QD<T02;X3*8QU#&/Z<G.?.5%#
MYR8V<FSG(UIYVJY',&K3U7,DY9+N3;;KVKL\R5$O,C8+CZ%B\OZ-=PL51C:I
M![.Q\>VON[_?*J"6$]``````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`#YW.>A"Y^(^,_I&'I;=&WYCCA<I12_;(X:2:(2#%TQ<I%<-GC-VV<)'+@Y5
MD%T#$5;F3SZ#X<%STSC.<>@<*;C?LY,-CA<37O27[!#:I;6?B9.F/=<M-/WX
M_P#">:AR@U+)Z$Y&;JTS+ME6J^OMB6:$CL*(G1*ZK)919>I2:&#E(8[62JZ[
M9RF?ICQ)YSGIU]`V8\GZG#6.6,'4H*D;N/%T^A\:9KEU_1+W+VK7](O;9V;C
MBWY=G%]&J=/.BA8J4DP````````````````&AL=<9_N9^MG&1Y7K3OVI65OF
MFOAV'$H\<7#MDFOA5/URY'B/R"D>+7(K3F]62"CUI0KM'N;'&HJ$17E*=,(N
MX&XLD#J8\KSC5:4=F3\9BDRJ4G7)<=<XHSG70I:ER7D\OUBIR@VFU5)UJI4[
M7%KB6[:EM6\GG(VKQY5YIQ-5G5K&FY;'3S-5\]:;NUGI!U*QP]PJ]>MM>=$?
M0-GAHZPPKU,Y#IO(J9:I2+!TF=/.2&37:N"G+G&>G3.!KGS,*>G9=W!N4[RU
M=E&5-W$I.M/?J;%-,U&&KZ?9U.U7N[]M35=])*JKYZ'81#$<````````````
M`````````````;9LXZ]/ASC'IZ8Z=.OP^C.?@'/!>X>.W*B78=';4I*4'2_V
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MN\A"Z_E--?!3]DQXE&=%*XVY2KVMTVU_7[*+LH;0ACH`````````````````
M`&\8^%')5<9\.<')G'HP;KG!RX*3'BR4O50W0N,YSC&.O4<XD?5\OOGN2(7'
MMNQ'@:K5->3L_6WDI+W?/B)8B?3+F->8G#",F(9[K72Y'J*Y'KYB5VQ6O%X;
M>8B0F6#J2C\Q;-?!C95R@ZS@OE^6=7$'K[U`6?.WRYB<3GWTG<VKY*2X4_=?
MI>Y%=C,I^AO)$K.9>YBRJ=SW4>#9]-*?%L[-BBO??F)31OVPIRJ8\6/%GU%\
M/R?'DQ,9QX>G4A>A?J].OU!C%&3A)2M;91WKZ'[)DY=MPO6W9NND+E*>\ZG)
M#D]`````````````````````````````````````````````````````````
M```````````````````````````````````````````````V'&,&)C&?]=C]
M0PY4G'<<IM.JWGQ92QG.,^(V.F.GHST^$N?B_6_6R.%LAW?TJ9U2I?>0OLC7
MO;J;B);[Q7H*'K^P=&<BHID=NK?F%BUI>7:29,$<S%:9-)6E.5\$1+D[MY"N
M9)IYF<FSDC5(OH\&!F%X<N:;^9BW^6-1N)XN-'CL1V)KO)N4DGO<>+BE2FQS
M;[3$7KYRUCX6L?ZS8L)^L9TEWU6^#BM6[5N+2I2/H1BVNWA;WMD:#/7'A]>/
M3Z?1]4910MVGC2F_LJ?ZMA8&UP3MRD_E);#40AY@``````````````#X\?'C
M./KXZ#M"3A-3C\I-/X-IS%N,E);TT_@=1CRO&D1?)\(&SY1_`GYF385Z(G)D
MOQ&04/G.?@Q@=+ZCDSE.]OFJ.GD>SXCBY%WI3N/[)+;OINVIKW'0GF=EC>D?
MN7@7J:"),%D;=I=O(:HN;3)L*+,C0,FX6J63'R<QC$7HCR.4+^RZ>CI@:]^M
MFAST+GW(]5C)8%^5J2JFZMV[;N4?U?$_-6G89W='M5M:AT^Q+4IIYMB%V%/)
M&%RXK::WU4.!-O>U7M,LF,FZX]?3IU]7U?T!:VVW*[<A+<DFO@VESK598\;D
M_LC;7T6;@['(```````````````````!IGKTST]&>F>F?BST"JCZ4ODK>*I;
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MMQA)R5:R\K^(_(['H``````````````````%Q_$3C1=.6N^M?:-J)<(KVA^2
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M7X1MSKPQ6RCIY/V#E!R>P```````````````````````````````````````
M````````````````````````````````````````````````````````````
M````;*_W&/V6/U,@#Y0!C<[JW'&*Y-<*]RUE=,N;'KV&=;BHRZ:6#K$MFMHA
M_.>P$P8Y"G-8X!1W%&]/R4GV38ZYP+B],-=>A\XX4I.EF_<C:E3?Z4XI/>OI
MJ5_N:EONJ&BQU[D[)MV%7*QH2N;=BIPRK1[=M%\-#S\3F)DV#8-C.%"XP0O7
M&3>E/"N#YQCT8)DO7T_'Z!L7]*5V<HT=OA_8-?\`;MW8MQ:V1>WXOU>8_`Z'
MH``````````````````$@7W>G=#.E\F-F:@?O_*;[@UVUEHMGGIT7M^N)-RL
MQ22\?R,K+UBT2BWI]/5D0N/2?`QZ\16@6\GE_!UC'5<FW=N*?F@^%5\^U*OD
M57V%^^@W,%O3^9?F?+;5O,@XV_)QJ2V/LCOV/MKYB944_H3SGKG*A2YZ],^G
MKC]+UC"2W/UJ;OV%Z,=DJ[/_``F8>6XPA"GR>]2^&INCW.``````````````
M`#0V?#C.>F<]/@QCKGZPY2KL1S%<3IL!<^+'7PFQ]3..F?5U]0Z2EP[T_@8F
MN!5;5%Y'4V,N4\*&2Z*^,A<'-CRE,%\.?APIDN$C9^IC.<CH[T$]NQ/R[$>/
M?6WLCMG^U6V7^"MIPE@MM:JL))V.SS457J_#L59*7FYZ090\/&1R)3&6>2$E
M)+M631LF0N<F,<^,8QZQ&8^-F9=V-K!M7+M^7R5"+E5K;V)[%O;[%5D)FZC@
MX-B=W4;BL6HQ;?>-0=$MM%)JK\B[61VN8G?YUI3#NJKQ$@6VW+"W=KQ,GLFU
MMIB)UW#JID<-W"E=CEG<5/WEXV<D(H17":49DO7_`&P;)B$/?CD;H1J&O2MZ
MAK,I8UE\+<8TXZ-)O;)>C)/>G%[FMC+`<Z]>+FG*>F\M6;-ZTX-=Y.4DUO2I
M&/8UVM]NYI$6K=>Z]J\@KZ\V5N2\2NPKI(M46BTU*%;(%8QK5=THPA(IBR(B
MRCHB/*Y-E)%(A<>-0YC>(YC'-F9H.A:-RGA1TW1[25FO&VU1J3V.B791)^ZS
M&74-;S=9OSR\V3[Z3IVOL\_ZJ%*5#GSC&.F%/J&SDO3]/(CLS(R;JI%*:\C=
M"3.,V_(:`>H``````````````````:9SC`)UDH]K"VNBWF\@@LZ7;M6Z1UG+
MQ0B+-!/'C5=+**%1*B@0O4RBQE5"%P7UF,?&"]<^KB_*.,N*^U&/E>Q?"SF<
M7!5WKS;:>[0G6=H[M^QG$'3#&[W."=-^1&VH!I+;(4EE$5Y&EP[M\K)0FMVI
MRJ+90)&HG16D.AC>=)84/U\/AZ:_.JW4.?/>KNQC.7^K]IUMU34I.F^476E&
MW3X7M>S.SI7R'_J5IGK.<E\^W%PRC%IPC&O9*/F2]Q479MS`%+TSUZ=,].G3
MKU^KU%J''BO.\_E4X?>3;7QET:6X+AM[JU]\_8['!R``````````````````
M````````````````````````````````````````````````````````````
M```````````````````````````-E?[C'[+'ZF0!\H`XZ0CV<HU?L7R1'+1\
MP<1KQJXQA5JLT=I+)+IJ(*8,D;"R2N2GZX^47&,9]'H'2>;+3KEK-3X7"::?
MD::=?A1XYF'#*P;N-)5]8@XM>54:^)GG"\U.,LOQ'Y0[?TF[3<EKL%9'LMKY
MRJD8N9;7UD\N5I[KVA4F,NCQL<51B].3!"&DFRV28(3H3&RWISK\N9.4[>KR
M:?>JFSRI*J]YII^<U\<\:,N7=<NZ=1\:E2K?8F_CK&GF3[2U85>4>```````
M```````````%2--[4M.CML:^W)3'9V=CU;;8.Y,,E)DR;U"-<*9DHMTFF=%1
MRQDHTRR*R>%"Y,0^<8-C/3(D/-/+UGFC1+NGY$7*W"$MB=-DDZ[=^Y/S^0FN
MB:MDZ-JV/J.*TKUJYL?D=8M>;>D>EM2[E'7NG4>ZPADEX>Z5V`M46N0^%"'A
MK%%)RT>L4Y,%+DYT7*77T=/3GIZ.F1K.R</YMU+)TZ2:N0E)->>#X7]&IL@T
MK)CJ6!:R)T]/'C=7NTC^M([L(4B```````````````#;5SG"9LXQG/3I]SC.
M<].N.N<8Q@V<],>GT8SD>=V=ZW;<[$>*ZJ47OT\W8>=V*G;<92X5Y2W+>?+;
MCGQIC22.\-PT37*:R*[AFPGII(UCETFIT"KXKU48$>6:QK$.Y3(9)DT76(8Y
M.I,^+`J'1>5>:N8)1AAXMVXYNBX8>C[\WZ*]^2V["CM4YVY:Y;J]0R(U2W5;
M=/+1)OZ'NF!SDU[P_3XK-BJ_%K5DA:'QR%:P^T=F*J5JNE7Z8RL\8T%2.^E$
MIY/W)"/E(K!L_*SC)<8QF^/*?AZU;4Y6Y\S*YC8CXJKT8R3V47$^.-/>[-Y9
M_FCK_9L7Y0Y2QX3N<*ID2C.4.VJ2K!;'V[?.1W^1O,GDARJGEY7=NU;/9VCE
MUA9I3F+QS`Z^@SG:ILU"P=*CG689GA1$OW9_:5\&-DWG9/G)\Y*\L=-^6>3(
M1Q,''5[O7&-RY)N;5=DIUW1V-UX4DNQ%A.8N=^;>:[TK^JWU<LIM^A&,5&.S
M?PI;DO)M[4]Q;`8S<F<)^`B?3&"8S@I"G\.,_P!\?!?&?TX]9LYR*Y<M-T^Y
MW.%3;_X"DO3DJP;G3SU\I^CE*7./";Q8SCKUZ]?3USCIZL?$.]^,U).>QN-?
MC.%*Y-5N*DEL/P/$Y````````````````````-.I<G\OIU/Y2RF/EX(7&2%Q
MDAE#9(;!429ZY/GUYQZO2(6]EPMW8XFSOIIR7EV?K'E<O1MR5MNDI?#Y-GGW
M4))_94[:2E]EZMS6W+'F)3JI,R#S2=#D8IR@:P6*(Z,2;'FE'N&N7<+%OEET
MXEN9%/J];Y=8,8I4\FQBZX]3LBW"?*VC32U#A7$UL<4^RNS:UY*46VM69"=&
M>G*S[D.8N8K7%I47LJTHR:VK8F]BE2NWTMVY-$N3!>G7U9ZYQG[A(O3./%US
MCP$+GJ;Q>G/U/T>N)IE\?H``!R``````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````-E?[C'[+'ZF0!\H`V\XQX^N>G3PYZ_5'7(M*[BM;-E7\9[RDH
MXS;\C(I7O&.E94MDT;R.BHW+B%6@YO3%P?H(8S[&Y;S*]MI3ITICH9--51U*
MMO$?TY.7!<>@Y/%EEX:^:+-G!R]!O2;E=G%P3VT;CZ5*O9]C[%]-\&*?B%T.
M=N]AZI;@E':I25*NFS;Y:J6SS_"1A!E28S@``````````````````+\D_BS]
MSG'3./@SC..F<9QZLXZ9S]<>EV$NZMSC6B;KY]O;Y=E3B^^.S&$?E)U)Q_8S
MY'+;SX:QM+G%?:+/Q_GU=7N%3Y(8RU7;M6LM0W1L944/C)(!\5EZL8PI'GZ=
M/0,`.N_+DM+YS^<;,5#'RWQT7EXGQ?#L;7E>ZAFKT)UZ.H\KRTR4Y2R<;?6K
M]%I;$WMHI)T[*>8S2BT)>D````````-O&2&)XR&+DOASG!BY*;&>GKZ?*SUS
MC.!"]WDMOCNQX?U?W)Z=YP[6N)>:E?UC9.H7!NACESUSTZ?M7K_[PW7T8'K"
MS8F^%R<I>;B^'90\)J-[T8QE::V\4FJ->3Y3V]N[L9;QMKEMQBT>A*'VKOG5
M=(=PS4[MW#R]\KK.Q>$I,G*FUKII8LQ).E_#T202;J**&]&"Y$_T[E'F'5KT
M<?2,>Y.[<=(U32;V_32]%>^TBF]4YRY8Y?JM2R-L=ZBG)_!&K?O(P];I]X7X
MQU&/D4-)438^W+$0QBQSN<CF=`IBAR+&*=PI(OW;^RY;G)CQ)XQ$?+ZXSUQC
MUW@Y>\.?.V5&UGZY/'LXEQ5E'O*W([Z>C&#CM=/IMWP%M-=Z^\MV;=S&T>W>
MED1=%*5M*+^&;?PQ1A`Y)=YSFGR*9J049?/P$55=1,SB`T\9W!R[LB+ANY22
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M;;W@#@`````````````````:X-X<X-GU%S@WQ^K/4=+GV.5-_"_B.ER+E;E&
M.]IKZ!JF0JRV3YSC&#FS@N/3@OBSZ?E9Q\DA>F/7GICJ/"-I.RKMR5%[IXS4
M[6-&W].M_E_X3+CVM.V?<.:ETC]DV](L#QJHELCG-ID';0IY#9<C#K>W_0:M
M)O6N4%J\]\G",V[*IDN$52I)]5.N2V3ZK=1\3EJS#`T]\>?>L3::7R7Q<->)
MIT6]T7RJ4V;67BZ==,=4YEU''U&Y",<&S./%Q/?6DMW:TMBK1*K;JZ(G4PD5
M&0\6RBXF-8Q49'M6S!A&L&;9DR9,F21&[1JV:-L>SMV[5%,I$R%^20N,8QT&
M"^;>R,_4)9-^4YW9.KE)NK>]MO>ZU,XHX^)I]F&GX\(1M1BJ1BDDO>2I[IS`
M]3L```'(````````````````````````````````````````````````````
M`````````````````````````````````````````````````````V5_N,?L
ML?J9`'R@#\]/3G/7UXZ>H=JU@X=C%S]TM]T]BJ6"]S/2*F\^#O(JELV/SO/(
M4=Y=:LRPEXU<VBBN6EPB\,\%-@^%W:T.='H7TGPN8O3/45OTIU*7+_.>GW$Z
MVY9,8.ODGZ%-GG:?NKR5*!ZJ:-:YBY/R;=RL;MBTYQ:VNL&I4V]CBG'W'7>>
M>1CPG;).4S9,53PER4Q<D.FKXE_-2.0WRL'2P0N,]<8Z&SG`V0VG"]CV\BTZ
MJ:3]Q[=GT$8!R@XY$[$MC@W\&RC]_;\!H/*W-S<O[F5/H+]D\+<^--^1T^(#
MT/0```````````````_:F2^4GC&?E9R;Q>CU8QGT=/CZB(MW)3AZO1<+>_M0
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M_P!@LQW?W$>'''>5=06UM\T:!G6)_+?5U@XD[9:&BID2.4TW%;IL98)=`ZC=
M4I\843)GP&QGU9P*UT?D#G'F&W&]HF([UF6YUV;-_9V=I0NK=1>5-%O2L9MZ
M;NQWJ,4_CDC!_P`@/>*'K:7FZ[QIT6REXYB=;YGVAL>6FD(^30\)RHGQKA"%
M@)]J@J8I3FR>21-X.I<^6;H8M[N4_#AJ65?<^8>&W:X%L@Y2:E3;52A'=V4=
M/*64YDZ^2X5#E^TK<N*2K*E6EN:I*4=O;Y]R,->Z>Z5SLWDF_C;9OJR5RNR!
M'"2]6U;UU=$92<&-@Z2SRG*QECD4O*.8F4W;YPF?&<9.4QRE-B^6F=&.GNB7
M'-:=9O791H^]XYI;G5*<Y)/9V4+2ZOU4Y[UFRL>[J.1:MJ:E^YN,&Z)KA;C!
M-QVU:>]I>0L`<NW3R4<S3MT\>2SP_F.I9^]=R$NZ/DN"Y,ZEWRSB1=9SC'_A
M%#"O]/TS2]*HM.QK5F*W<*W?&47D:EJ6:^+.OW;TZ[7*3=?>W?`;1SY.8QS8
MQDQLYSGU]/3Z<^CKT]8C[ER5VO$WM\^SX-Q`RBY=K/QT)\"9,9_UV,>G']WZ
MHA(XUJ-SO4EQ+]<\XVI1EQ.4FO(:"(/8```````````````````````'0WKZ
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MN"=,=,&Z8Z=,8QCU?5]?K$NG2:V))^5'MPMY/K,FV_)V;C<`[@``!R``````
M````````````````````````````````````````````````````````````
M```````````````````````````````````````-E?[C'[+'ZF0!\H``#9<8
M*9!4ID\+%.7)#)9+@V%"G^28F2FQDN<&QGIZ?0/*_?NXUIW[*;NPVJF^J\AP
M[-K(3L7J.U-4==U'LVGGD]S;CU'<:N;>Y]<UUL=I5)*5:[+J;;R"M46U>V0U
M)8O8&2"9$TDF$)/J2+)(I"E(1-`A<8QC'3&QGHSKRYIY5L9D9*<K47&Y3;PR
M3E'M\M*I=B:VFOGG_0<CE[FG+Q;]MPM-IP;5.*+5:KX4GYTRPC.<9,;./3CQ
M>C]#T"X%M-2N/L=QM>Y1%!V8N*=?VW[!H/4]@``````````````!Y>#?*R?&
M/J9Z_!_<R(G"N0C>GWNR*6QO=4[V<B5N4H</HTWG=-?7:0UU?Z-L6'R<LSK^
MW5NYQ&4\&\S,C5YEC.,RD\.2F\1W#`F.G7'42C5-(Q]:TO.QLBG>W,:[&$:5
M<I2A))+SMM4\YWTJ5W$U"WEVY4NPNQDO=3JCTM-8;*K&V-=4G9M.E$)2KWFI
M0-HA'[=8IVRL=-QZ+UOG!\9\.%$_,\LV,^DIR9+Z\9&KS5+'S3S'<TK+:CD0
M<HM/M<9-;/=H;(M)S+.H:;@YV/)2M.*XI+<G153[=C.6N6Q*%K.O*V?9%UJM
M!KC91)-S8;E/Q=:A$%5\Y\A)65F73-@11?PY\!<J8R;X.HX[F_D3E'&3<W))
M->XB+U/4].TZZ[^=>A;QU"NW=3R_#5&,/?7>GX)Z/3SAILYWNV76<*-VL#H]
MLSMAR^67&<NE+"\?0M2,SR;/3&2/U,Y-CIZ?3G%RM`Z'\\Z[#O9Q]7M-)Q=V
M4XJ5?VO`I[M[JEL+8ZKUHY2TRZ[6&GDTWN'"DO?DE6OFJ8>]W^\5[DG?.C./
M^EJ;KY@4KE`MDV)-2=]GG93=2M'S&(AVM0BX-RCCH;*;H\N0QO7Z/7=[0O#1
M:T^[&6I9UN]:[8QA.N[<IRE6E?[G;Y$6;USK[JNHPX<#&GCMU^GBVO@BE\#9
MAPWGSDY8\D'Q7NX=W7JQ(E:F:%AF#Z,J=9PBIE+*I/HU2&-?AG'C\A/J=RW4
M6-X,=3YSUR+X<O\`3[E+EJTH8F!9NWT_LERW;E-;_DS<7)54FMZV41:'6N<N
M9-:DI9F5?E%-TBISHJT[.*G9V%J6?`8QSF\>3J&,=4V<^(RACYR8QCFSGJ<Q
MC9ZYSGTYR*ULNU85+%KNU_<I+XJ%-3R<NYMN.4GYVW\9^5<*%*4I%2F)C/4I
M"^+H3/3'3T=,8QG'U!%9-S,BH]U>4HO>E78=XR3=9\7$UM=3]^LF,YSU-UQZ
M,^OITSU_3':3B[*DW6[7=YJ'1*DMFX_`\#L`````````````````````````
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MU*C?E\YO`>0````!R```````````````````````````````````````````
M````````````````````````````````````````````````````````````
M``-E?[C'[+'ZF0!\H``#\*8,8ABESDIC8\.#8STR7Q>CQ8S_`*XO7KCZH\<A
MTLR?F.T:<2KN(NWO%O&Q!6.U/RS@VR6)2,?M-+7CR\&\;N&ERS%AITFX/@_A
M12BY5H^:YR8IO,R_2+U)X,8/E'X;N:7IU^?+4J/ON*:]^E5Y-CHZ;]K][%SK
MUH,[UV',$&^ZC&,'LJJJM'[ZK\!%5QG&<G\/7*?B_:SY]!CDR0IL&,3_`,'G
MQ9SCIUSZAEX]DFNRIC$DTJ/Y7;YGY/.?H#D````````````````#]%QC)BXS
MG.,9-C&<XZ=<8SGTYQUQG'7&!ZV(J=^$)/ABYI-^2KW^\<K>90-2]VOF%I#C
M9!\:=<3U2B(*N$F&4-L!_%2LSL*(@Y-\I(MX:'<O[`I7&C>&<+J%9G4CESI-
M_`ECY)/3:34>AG+&H\U?/^;=NW(U]*"X.">RGI>BW\#6Y>>MRL/JSKVFZ"^7
M<:,%9>ZY67$O@V?^%EF&W>4'(;>J!VFY-U;3V1''6264B;+<YIW6\N$,GRBX
M1JR;A*KLUD\*9Q@R#-/]#KUSFL\#E/E+E:L=+Q5PS:DVO+NHZ*FS]<HW4-=U
M;4;L;F7?<YN.RKVI5>S:ZE!T2D-G&$B?(+CI@I^F<DQCT8P7)2D*3'Z!<">V
M<FWE)6\>/#%?J\Q*9WY0E65.+S?J9NCV.@``````````````````````````
M```````,]>GHSTS\8\K]>Z?#OV?&=+CI!NG%YC]80554;MFJ:KV0>KHM6+%L
M7*[QZ[<*%2;M&;1'S7KUVX6.4B:2*2BAS9QC&!#Y67AZ9B/)RJ*BKM=#WP+-
MS+O*U9M-M^1-_K4^%HDN=MGLB6&POJ_NCF=#K05?:.FDM5M#.D&S]>T)Y;)/
M4W6UG""[AO%PS1SA/)85,V57BA,^TJ)D+Y2F,O4[K?&6-+0N6.!WY0?%=4JJ
M-:4225)/R^E1/?5U4<B.G?1ZYJEZ&LZVIV<*W<:5MQX93X>WTJ-)UI\FK5:4
M)6U?@(:KP<-7*U$QD!`PK-K'Q<'#-$&$3&,&Q"$;LHZ/9IMFC-JV(0I4R)I$
M(0N,8*4N/0,4\K*RLJ?K.6W>RIR]*3;;7G;V[O.97X.%BZ=CO"P[?=XT$^'9
MOK^KSG8!XG8````````.0```````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````!LK_<8_98_4R`/E```?DW7.,]/7Z.GZ/7`X:C)4GMCVG:#2DG+Y)93W
M"..BW*7B%NK33!)-2QS=;+.4K*Q\D3+>JA(-K75DU%<J)^2@^F(HC98^<]"(
MKGSG&<=<"NN0-8AH'.&'JDGPV%/AF^Q1GZ+;]RJ;IV*A1'4G1H:OR5DXUBWQ
M9"I**6_T7V>ZJI>Z>=:]8O8QX\BY1D[C9F+>.XR;8/TE6[UG+1[E5F^:NVRQ
M2+-7355#RU4CE*=-0ABFQ@V,X&QK'R;>98AE6G6-R*E7RU-?=ZS=Q[T[-U4<
M9-)4I1>3X:^\?*/8\P`````````````````XDE).,ML6AOV,T\.,?!_W8',/
MW./!#9'R'92DH\*?HFYA0^">#!L^#KU\/P=>G3K]8=E*48.VGZ#=6CR[N&^A
M^2?(SG)/DYSZ^@\[<(VG6VJ,YX(>0T'8[```````````````````````````
M`````:9*;.,Y)Z?"7Q']/W..O3KGTXZ8'H\7)G;5VPN*O9Y-M#E1J]M:/<7$
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M<[3NW)KAFVTC=')Y@```````!R``````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````-E?[C'[+'ZF0!\H``#3.,YQZ/6#VJATN1<H.*V-HV5R**$Z)Y
MP4V3IXZ^O'RCE+T-CPYZIY-G'BZ>GH.D.]A:48R7>)UJ>\96W#NKT>*TXT:/
M/P[KND7>D^?6^($S',=!WR?+MZJ'PW.DR<1&Q6Z<Y*999\I-(R+.[+R;/PDZ
MX(9'IU^`;!>B_-,>:^4K5GAG')PJ6)N33XW"$'QKMV\23KMJF]Q@+U;Y=GRI
MS5<MUC.SDV^_APU7#&=RY'@=>V*@W7=3SF.,Y<D(8^>GR3>')?J]<8]?Z.1=
M9[+#O/<I4IV]G[);2%Q3=$?D<GH`````````````````````````````````
M`````````````````/1CUYZ8^/\`]0>KMQ45)R6X>X;R:1%<]"N$"YQC)C>:
M8R?HQC/H)U+G!SY-TQ@OHZ]0A"-U\-F2E<[5NHJ;]OP>^=:R:=(MM(^J,AYJ
M<F(RO041(3D]-+I,X:#AVZDI-S,BN;!$(V(AV!7,C(OE3FQC":2><XQZ<],"
M!U'.PM)M.]J-V%JVE6K_`."I%8F/<S[JL8B<\B3HHJ,O+Y:4^CMW+:2(N!78
M;MVTFL5LWE^\FM:T^23?)L=/Q;@\3L>6*GC*;1[8I3*+Y*JLSJE.<J"&/;#D
M(7QY3R?IC'3GSQ!V].NWM%Y22N7;;BO6*QE:EQ14I<*^5Z+;@]WI1;K2AD+R
M/T4RM3P<?5-?FK5B?$W9VJZJ3E&-73AI))35:[)+8G4E5:@TAK#0U&A-<:HJ
M$13*A`(Y19Q40V01\\Y^IEWLF[PCAW*2CQ8V5%W:YSN'"N<G4.;.<]<2]:UO
M6N8M1>IZSD.[?<F]FQ;=Z2VI+R)453);0>7]*Y9Q5BZ-:4$E3BEZ4GYV][_8
M*J%3P7U%+C^Z;_5ZB57;4;BV-\7G)U*[E3^5*-/,C<_[O7U'6Q"Y;APW9*3K
ML]PZQC&&R.X#V.P`````````!R``````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````-E?[C'[+'ZF0!\H````'PXSUSC..O3.,YQZ\9+GU?4R`(U_O&
M>G3RVM=";]CHS*KFD6R9UM:9-!)/*J4#>&Z$U7#OU/2?+-E::S[,EXL>!-26
M-TSXC8P,H/#-K/<Z[E:)>N*./=M]ZDVDN*-(MJO:_06_LW&./7_ER&7AX^OQ
MA6Y;CW4G1[(UE)5IN2XI[^UT[2(^7'1-1,V?E%Z=?%GTYSCX?3Z<]<E&7>0N
M'BL;_2^@GV?`8D7=EU=VM_D_5Y#;'4B`````````````````````````````
M`````````````````.W#+R,YHS7IGXLAPR2JTZ'!IU]/3X<>O'PX_N#HY16]
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M`A$DBD2QX$\',I@I?$4OCRH90QO#U_OE#9SGX\^L4;8QEB6ECJ4IJ-=K;;=7
M7:VWY?*5Y&XKL>-.J?FIYMQO#V.P``````````````!R````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````-E?[C'[+'ZF0!\H``````M<YHZ'3Y,\
M8MS:0PC'GDKU1)Z/K*TF14S1E;T69GE6D53(+ME$/FR=;MURJ>9C!3$QGIGU
M9JGD_6[?+^OX^H79.-E7.&5-_"]_8ZTWT6UTH4?SYIE_6N5,S2\5*61<MIQ3
MW-J2E3WZ4/-VDF[ML\7;ODC-'R+A9LY:K^%-=%VV6.FY;Y)GPYR=%4N2YZ8Z
M=<#9;B9$<F./J$=MIV=_NQ?^4:],>U/%O]W<JI6.*,NVCHX_&?..YU``````
M```````````````````````````````````````/UY)C=>F2EQA3*>>N>G4_
MPXQZ.AL8Z=<YQZ,8'>U>NYT>*PWL[:T.D,N=S9%-[*^\;C)N\>NV[)N1P[=.
M5DV[1DV2<.73I=8V2)(-FR"9U5E%3%Z%+C&<FSG'3KU$%D9CP_W34K\;=B-=
M\WM\M$O)0]XX^3??=X]N<IOR*O[/_`99.-'9UYJ<B4ZK/.*<II764^X*H]N>
MQ74?'RK>-25R19TWU=\ZH6]^J?P?M6'S:/P;KXB*>'H86CYSZX<AZ:I8N!<N
MW\V*VJW:\OGE1/\`6+D<O]&.<-?@KL\>S:QI;I79J-*=OHUFENW+:2K>%_;<
MT)PUBH*1K5/JUCW`TAL1ECW.XC91.S6!TY)A*5=,6D]/VO%0:/T<9P9M'N2I
M+%SX3XQC.1B7SUU%U_FJ,DYWHX,FN&VYQ:26ZK48OR46VGO&4')/2K2>6(V\
MC(]6GGP@DY14G1T2:3;W;]M%[AD;+G/0N,^OP]<_H]?C^'KC/Z0MKAVI1MN=
MS[(W[Y<Z5U2ONU!_N:7O=B/T(L[@`````````````````!R`````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````-E?[C'[+'ZF0!\H``````V52&,;&
M2GR0Q2YQXB_==#&(;/3/7'3KX,?W!!Y^,[^.I1G*$H2K5?`+-%DUEM7#N[#S
MZ.ZQQX6XX\V=P5QFP.C6+M-/-N4EPNEA-!6)V%)2,W*H,<X.;";>!G4I&/2)
MC^];)=<=3>G9#TKYAAS%T[Q;TJ++L*%N6VK;CPIM^1M5=/(T^TU^=0-$AHO-
M.=APD^ZNWY7%N7#&4Y2C%);&MJ5=]*^0QT"XA0H`````````````````````
M`````````````````:XZ=<=<],=?3GXL?&.'6CIO.)-J+:WT&<=/5G&2_'CK
MZNO0>MF,9?973W-OQT.+4XR5+FR?D-5<HI-U'2CA)N@ETP99SYI$RJ9SZ"JJ
MX1RV03-UQC!C*]<F]'A]6<]KUEP@[UMKU>*VN6QU]Y-4I3>]YZQLY$YJ$(.3
M;[*;O-MJ_@]\N<TSPSY2;]1:/M6:"VS:X1\3"S6UH5!Q#4=1$N#974/=K.O"
M0&$2X)GP*(J+^/./07UYQ1.I=0^2]$N=UJV4[=RNY*.VF^G%)/R=A4F!R;S'
MJD>+3\:=Q-=B;]QT2>SW6C.WQO\`=V9"1B4);E1NB3K\@[235^AFHFC19Q&$
M,8_G-G%RM$.]CE')B>$ISH1YR^$QL$,4_A.6P.N>(FQIJEB<MVG/:UQW/12\
MCBDY-[7MKP^;?4O9RGX?[^2HY&K7G8C2O#%5;\S^33W-OG\A("XV\&.+O%",
M(STOJFO0$NJS9MY6Y/6V):Z3JK1%1`K^4L+WS'/M:Q5#9/Y&$$\Y-GH3'J%A
M=?Y]YJYGD[FJY=V5B4FU;4I*"W?2UV^^W]!%^=$Y'Y6T-=SBX=B5^W1=Y*/%
M)T;:VNM*/;LIM+M2I%+C.,=?3TZY,8YC>@N"X^48V39]!?AR*,4(*;NQ5+K[
M=[^C4J^XI7(=W6EKR))?$,$SCU'SC^Y_J]?3T'E&&0IN4KLI)M[*1HJ]FQ=A
M#^J6J)*JIYV;GI'LE1UJ>UNU&WNW@<GH``````````````````'(````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````V5_N,?LL?J9`'R@`````#\9
M-C!NF<]/D]?[G7T?!\8Z75*=O@@JNM3M"EMN[/9"E*^<C+>\4\='=AI>G>3L
M(7"C37;^3UO>DT&BAW"D5<7[!Y47[A5)'.21D39F#Q!;S#9)A>40SC&/E&QD
MAX<.9K4-=OZ'DS=NQ)-JK]%SHXJBW5<N!?!Y#&GKSR\X8MC5K,*WI54J)52V
M2K[E.+]3(G'3/7ITSU^(9HW+-VT^&XFF8K2?#\K8:Y+DO3KC..OJ'D=8SC+Y
M+K0_('8````````````````````````````-/%CKTZ^D>L;%Z4>*,6XL]58N
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MC),*$SG.+(\R>)#`E-KE["NJD71RE&*KV;(J5?==.TO/H7A^U'*EWVLY%FPJ
MKT:3N2\^WT4O<JT9Q./?:LX2\<VR:M:TG7;M/MULO4KAMJ-B=BVM!;Y"I31;
MR=AU6D2=,Y?"3V1%IDOIZ8^'-@.9.K?/O-%[BR<BY9LJ'!PVYS@FJM[4I.M:
M[:O;NW)%]]%Z:<IZ+C=R[,<BZI<7%*$'V)4VK=LK[K,A;"*C(Y@UCXR.:1K!
MLGX&K%DS19-6J1NN<I(M4$B)(%]/I*7&,"@[\WG*N;Q3F]]77Z+*SLQ6#!6<
M*U&-I+<DDO@2/KPD7H7HF3'ASG)<>24OASGT9SCIUZ9SC(XQUC./%W7`_.E7
MZ!WM^NV4T[JDG[OZY]/Q?'TQCU=/5]L<<4G.4:4MK=^N+<'%RG)UE+]7ZX'8
M]0```````````````````````Y``````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````&RO\`<8_98_4R`/E``````&TH0QNGAZ=?AS\/3Z_3H/2SLN.;
MW4H0.;'(N14+=>[WO9VEO7*O2D?R#XY[HT](MDW1;UKNTPT610B?1O85XMTM
M7)%,ZG7"3B.G46RQ#=<=#$Z]<?!.>3]8GRWS%8U*#2<<B,FFZ)KB])5]Q['V
M/;1T)3SEHMG7^7;V-/[.L>YPTHWQ<#IL?G^@>:\H@Z02=$>-C,WK)XNP=LU,
M&*Y:N6QE"+).D5"IJ(*IG)@IB&QUP;KCX!L\T[->HZ2]2EY7NV[F:YYV+EG(
M[B_7=7:J=J1\Q<GR0IC8ST-C/AZ_4STR/67#*S;N+?),YDK2=+>];P/(Z@``
M`````````````````````````!J;P$^Z43QDQ/$3S%4$R&/U]*>55%B(I9QC
M_7F+GZ@[7KF)BV>^OWN%4K1M+XV=HV9W6HP4FV^S;^M7X*EX^@N`O+ODJ^8M
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M<8QCU"W63<R,JX[]^XY7&ZM[VWVU==M>TN+BXF/@6>YQ[4(P4:;/V#D!#'<`
M``````````````````````````````#D````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````;*_W&/V6/U,@#Y0`````!IG&,YZ_#_='*DTJ)[#LI22
MHGL/R?&,E-UST^2;TYSG&,>C/ISZ>G3`\[EN-SY2JUN]T\^"W7:E1[_/Y2`C
MWA-,1VD^>NW643&_-4-M3YCV["-B%\M!1O9V3A"U>SI%Z$(DC?6;_&?#C!2]
M2X]'7&!L.Z)\S6M9Y!Q=/R9\>HP7!=4FW)\,M[;WN2HZ^>E6S`[J[H\M)YRR
MX6K:AISFW;HJ+TG'=YJ)I(Q>F-GQ9)U^2GGH0OP%Z^OI^CG`NE=483=N&RW'
M<O)Y?HEM5",8*25&]YH/,````````````````````#H7.<8,8^/B\'7T_H]"
MF#N8W4W*<H4\G;7WGN.>[N35;?9O&<=,=<>/)<]<8-G!NGH]'K\./3UP.>\L
M6=CXI^[_`.`Z.ZK3X9I-_J\Y^BD5<+-V;<AEW;U0C=FW:$,X=.7"QRI(I-VZ
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MFYOSRW)-^:,?<1>81FT3,8Z;9`AS],'.1(A3GZ9ZX\9\8P8W3/IQUSZ,BCIU
MN35RYMFMS96EM*U;[JWZ-M=BW'T=/JYS^B8V<_7SG.1PTGM>\[\4EN9IDA<^
MG./T\CAP@]Z/*=N$WQ32<AX"X]/3U?5S]D%&*W(ZJQ:3JHJJ/T.QZ@``````
M`````````````````````````<@`````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````#97^XQ^RQ^ID`?*````````_)\=2'Q\938^OC(Y3HZAJNQ;V1
MYO>`N,+38.@J;R;B6GE6/1TXPA+(Z0P7)W>O]@R<;"9(\R5+*SA*&M3MFX)\
MKPIX56-_?9%_O#YS+<P.<+6B9%96<R;X'LI!\#>WM>Q);/(8^=?>5N]T'_6&
MRX][BM0FMM9^FDG'L6UO?V.A#G/CPKN"Y_O5,XQT]1L8]9L?4PIXB_HE&<F5
M:X)]Y5/B;W>8Q):7<VY)UJG^KWUM]\T$*>8```````````&N,9SG&,>O/HQ^
MB#V*IPW1-O<C]93/CUXQC_OL?ZF1VMNS)_NEQ07G3?Q(\XW[3WNGO/\`8-HQ
MC%-@N"^+T=>N,XZ8]?H](\,FX[5Y6\:+OVW&KE'8DZM4VT=4J/WSO*2WV_2C
MY?\`PG[(FN?./VG!29_\*HX:I)X_1,JL3ID>EM7)I.4>%/RN/[)T=ZVM[?%Y
M*2;^@F=OJVO[K>G)V5%J=HN[XBR;?V"F5>RVU^9=7/0B'L=:B)9P@L?IGIA<
MJ./1U-G!<9-B4Y^O:1ID'<S;]N$%YV_B3([!P<[4+JM8UFY*;W;$OC:K[U3+
M3QH['',7?4,QM5R:5OCY7G+[+=5IM4LZUV.W9DR;"CYK0X^$=%.57!<>`KJ1
M8Y-C.,XZ^GI:?F;K[RMR_P`%C2D\^]=4N)V]BM<+2CQ.:2;E66R+;7#MI5%U
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MHG-_MJOXJ>8GZE<LQX<?A4>U-/=YJ-.INY3-X_%C)<>KKZ<]>O\`ZW](=[<U
M&'#)*OF5/^$\5BXRGWRXXW?,]GP-,W<8Z8Z9](Z2=74]]O:ZO]7DH:C@````
M``````````````````````````````````!R````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````-E?[C'[+'ZF0!\H```````#3/JS^AD!6FTH1R9T
MW&\@N/NX=+/EDF)=D:^LE48R1TO-Q#2\G%+MX*:(GGY*BD++Y0=$*;&2Y,EC
MKC.,Y%0\L:U/0M>Q=8LN478R([8[^'BX94_O6]FY^X4[S;H\.9="R]*NQ4E<
ML.2KNXDN*/O\27GJ>;';*E8J!:K-1+<R-'VJFS\K5[*S-XLX:V"`='B)EJ10
MWI431D&1_3ZNN<C9/IN?+4+$;]>*S*W;E&6^+XH)MQ>Y[=].TUTY=N>/GW\.
M::5FXXI-4I24OHK=[B1U\3$\@````!ZO6#:CMEL1PVEO-?@Z_!\?P#M&,I*L
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MX.!CV9/MA"*?T-I41)!L7/R$4_VO/R<93QX2Y-Z\EP;J7Q9Z>O`D\5M;X>%O
MZ/T636S?=VL=RCYJ;_>7D/KSG.<YSG/7.1V/8T``````````````````````
M````````````````````````'(``````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````V5_N,?LL?J9`'R@```````-,^K/Z&0I78</<;2IB>4IDWC,4I
M#]2)XQE0V,%SUP3&<XQD_3U>G`ZV)JS&Y%KY#K[WZD=W/N8V[3WR5/H+]D@<
M]ZGC_-:0YT;#LBS,R=0WHW0V[6'R7GG9&E)`A(Z_1":RR*&#/V5J9*O5"D\1
M<-Y)`WBP8QB$S^Z)\TV^8.1L7`C7CT^"M.K3WN3C[GHI.GQF"_5_EV_HO-5W
M+G1V<R[.<*)KM3=?*ZRIL[*&);!BFZY+G!L8,8O7&,X^40V2'QT-C&?DF+G`
MNZ6I::V/>:@<```!^?E+YR3!O!X.N,YSZO1Z.OH^`>638GG15J#X>%;V=<FQ
MPQC)[>))_";GL[S!TT/VP^%S)D2P4AE2J'44*FD4I"9.8QU538*0N"Y,8V<8
MQC.<X'"M96G8TI2R*05-W%VNGE.]F'#CN[!2XU^U='Y_)V;_`#5+SM&=NWFO
MR%5;KZTX\WI6(6)E1&U7)HCKNH+(9R8IEVLU<U89*4*7*6<=&17)BYQ\K&/$
M3Q4'K_5/ESEF3AJT^^O12K%.+EMW>BVY?0*MY=Y-U[FJ:C@13BZ^E<XFMF]5
M2DNW;[QF'T9[N/L:7/&S?(7?E9JC3H@Z6IVK(B5M,H?"A\F<,'5NL'T:CXY=
M(O3&3MX]^EX\YP4QREP<]I=:\2>GSK;Y?T^;MIM*<IQM]E&THPF]_EIN]XO;
MI'AYU&>/">K96-:O.O%&$)2IM=-KX-K5&]GP[S,UHSM`\'M`3$9:*SK%Y:KA
M$.(YZRLVQ;99+<X;OXQ<CML\1A'3Y*JH&([3*IX4F"?IQTZ].G2R.O\`6/J/
MJ5J[".H7+.GW+<XW;<)S2G;DFI0VM['&J[-Y=;2^C7)>G0A.]85[+MRC.$I)
M45R-'&5$MZDJIF2]A'I,4RH-DVS9JDCY*31HAE%(F/$3.,D(10K<A"X+G&"^
M7G..OH-C'7&;8+4_G.5;M7)[W)U;]_>5_@Z5#36I6$N&NY*G9YCD$RE+C."X
MZ=39SGZN>F/3^D'=0L^C;5$]I,+EUW7Q25'2AN`=````````````````````
M````````````````````````````````.0``````````````````````````
M````````````````````````````````````````````````````````````
M``````````````````!LK_<8_98_4R`/E````````/6`/QX,>KKG]+[`\W;C
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M.\QL5.]J-VW;QTMC<E&LO)5OR5^`][6/>R+G=68R<O,F_H&0[2?:AYW;W]G=
M5_0TO0X%X?.$K5N*7:Z^AD4L)H+87/%/FRM]?(*IKXPF9M"*)F/@V/,ZD/@M
MN.8.L'(G+[DKMV-YIT]"ZI;?/P*5/?I[I6VC=.N9=;DEC6+O"UO<)1V>6LJ+
MZ+]PS9\<O=X=71D,E(<H-EV>VVA7)#K5_5\RC7J8V*8A3N&JLA,U5O;9#P*&
MRF1=$[3Q%QXO"7.<8+87F?Q)WKLG:Y:M1MV6Y*MRDY4W1X>%K;VMMOLV%[-#
MZ"2O0MSUZXU!0A6,-C3[4VVU]`S7:)X)\2N-[=AG46BM?UR78%)X+<O6H>4O
M"RA4%&WGN+C),G%A.N=!4Y3&*X+UP;.,XZ9SULAK///,W,RE+4,JZK3^D@Y0
MCOKN3V[?+7S%Y]#Y%Y;Y6N0>GV$[Z3I*=)O:J.C:V;/(7689(8P;'3)\'SC)
MO-\*N<^'KG!<Y5*<QBXZ^CKG/3X.@I/@V<+E)KSMOXRKY<$MO!;7N0BOB1]1
M2E(7!28P4N/47&,8QCX>F,8QTQ@<Q@H1X8U4?=.-BW)?`C7_`+O5C[`XG;C-
M-2JTU0[<<MW8?G)<9^'./T.F/U,#SACVX?)K\)V5V<=QJ4OAQTZYSZ>OISU'
MLE0ZRDYNKWFHY.H`````````````````````````````````````````````
M``````'(````````````````````````````````````````````````````
M`````````````````````````````````````````````````````V5_N,?L
ML?J9`'R@``````````"G&WM9U_<NLKUJJW1Z4I5=AU::IU@:+$*H3,;862D:
MNMA(QB>-5L5?S">G'0Y<>G'KQ&Z5JN;HNKXVHX<4^ZN<4JNCHNSW)*J?F>PE
M^K:;CZSIE_2LJJL7[4E5;U)*L&O[ZGQD./4'84YE;`GEF]]5H^FJHQ=O&)+5
M-K&M-FDV[)ZJP3<,:I%/V:!TI--M[2GE9VCC*:A/5USTS5UCQ*\N2TG&LZ=&
M[/+MQ2FG;E'=%+8VTGMK[QB!#H/SED7(XV1W5O#[RK:NP>RKHTEMJDS+/I#W
M>SBK1'I9/<MLN.^G:9$#-V#LSK6]::.$SE45R2+I4XC,N4ES8SU*O**EZ>CI
MG'7K9C7_`!$<W:U;>/CXF-B6Z44HSG.:7EVTC7W8LNQIG0;0\&4;M_-OWFJ5
MCP0BG3RMN3^"AF'T_P`:]$<?F2L7I34&O=8L7"64W9J95X6!>OLFRW,K\XOF
M+%*0DS+G;$.<[E=8YC$+G.<],"S.K:WK>MRKJ&;>E#BJH4]%-55:<7#6C:V1
M3VO:71TGEC1M%?%A8=M7>'A<G+TFJITK3=5+X"N9<>$I<=,^C]=ZO1\?42CA
M:C2;=SW=A44;<:>@NZ?FV^7W#;SA3/7IXB=,^C/CP;KCZOHQT':Q<DI-7(14
M%NHZ[#RR,><X+NKDG+MJE0W,=?1UZ_#US]7T_5'%R4Y7$X_8^T]K$7"UPW-M
MP_0Y.X``````````````````````````````````````````````````````
M`````!R`````````````````````````````````````````````````````
M````````````````````````````````````````````````````-E?[C'[+
M'ZF0!\H```````````>K.#8]&<=>F<>OH8N2YQU]?3TXS^CC``_*1?*-DV,F
M-G/P'SU+CT]<9*0OA(7./5UQC&<^O/7/I`'ZQZ/1^J``````````````````
M```````````````````````````````````````````````````#D```````
M````````````````````````````````````````````````````````````
M``````````````````````````````````````?DY,'QTSU]?7T?]V?C`&WY
M!/C-]?'V``\@GQF^OC[``>03XS?7Q]@`/()\9OKX^P`'D$^,WU\?8`#R"?&;
MZ^/L`!Y!/C-]?'V``\@GQF^OC[``>03XS?7Q]@`/()\9OKX^P`'D$^,WU\?8
M`#R"?&;Z^/L`!Y!/C-]?'V``\@GQF^OC[``>03XS?7Q]@`/()\9OKX^P`'D$
M^,WU\?8`#R"?&;Z^/L`!Y!/C-]?'V``\@GQF^OC[``>03XS?7Q]@`/()\9OK
MX^P`'D$^,WU\?8`#R"?&;Z^/L`!Y!/C-]?'V``\@GQF^OC[``>03XS?7Q]@`
M/()\9OKX^P`'D$^,WU\?8`#R"?&;Z^/L`!Y!/C-]?'V``\@GQF^OC[``>03X
MS?7Q]@`/()\9OKX^P`'D$^,WU\?8`#R"?&;Z^/L`!Y!/C-]?'V``\@GQF^OC
M[``>03XS?7Q]@`/()\9OKX^P`'D$^,WU\?8`#R"?&;Z^/L`!Y!/C-]?'V``\
M@GQF^OC[``>03XS?7Q]@`/()\9OKX^P`'D$^,WU\?8`#R"?&;Z^/L`!Y!/C-
M]?'V``\@GQF^OC[``>03XS?7Q]@`;P``````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````````````#XY
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M;'E(=U*0AW93(I/5#E-C&M#K_P"%OK-X:=8MZ;U/TQ6M-R;DXXN?CS[_``,O
M@<E^XWTHRA-J+FL?)MX^4K;4YV(Q:9*<C&O8MSN[ZHW6GD:3I5/X-F]554JH
MOO&/)X``````````````````!B;Y1=X[C)Q*Y?:WX5['HN]YK:>T%-9)P$_2
M:QK^2H#,VUK4O4*[F8E9W9];L3?#*2;F.]\F*<>6AG!DO./\C&9'23P/]5^L
MW135.N_*^H<O6.4=)6<[UG*OYD,R7S?CK)O=W;M8%^R^*$DK7%D0XI[)\"](
MBK.'=O8US*@X]W;K6M:[(J3ILIN?E6TRR##<A0``````````````````````
M``````IR\V]J]ALZ&TLYOM7)MNP5V5M\5K@DNT7N2]3A%6C>3LZT"W45D&-?
M;NGZ*.'C@B3=1=0J1#F4SX14]CDKFW(Y3O\`/=K3LM\F8V5;QKF:[<EC+(NJ
M3MV%>:4)WI1A*7=0<IQA%SE%1VG%?U>2M6J^2M'2N^CIN*C"F#D`````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`C`>])<JK?IKB7J;C]2IUY7G7**YVEO<G,<H_:O9;6.K8ZOO;+6?;FF4TD(^
M<L5UA2O4CJ8R\9IJ-\D4047QC;/[([H_HO//676>I.O8\,FSRE@X\L:,U"4;
M>?GSO1L7^"56YVK.+E.U)+]SN.-Q2C<C;9-='Q^^RU<DJVK:KV?*W133V_MI
M)K<XIU\O<NTEV,^&NN^+NGMR<A=2U/D-O#<E!INT9Q3:D4RM5*HK"Y1<3;H6
MB5FBNUI&GN2P3%=NC(2+M)^YD'?M/@528K%9DD?C-]H%URYFZMZWR/TTUG,Y
M9Y`T/4<G`M+3[DL?*RYXURYC7<N_EQ4,F/>S4Y6;-N5F%FWW7%">1!WY>>9J
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ML[<TG5*4).,DFMZJGM[2FDU))K<SDQ"'(````!^%%$T4U%EE")))$.HJJH<I
M$TTR%R8ZBAS9P4A"%QG.<YSC&,8':$)3DH03<VZ)+:VWN27:V"W:'YA\2+%?
M5M55_E+QSG=H-WCZ/<:WA]W:SD[Z@_C"G/),5J>RLZ]A2>1Y$S972,WP=+!<
MY-C'3(N;G=$NL^F<NQYPU+E'F?'Y2E"$UFW=*SK>(X3HH363*PK+C.JX)*=)
M55&SEQDK:O--69.BEV-[=B>YO8_@9<8+8'``'7[3;:K1H&2M5VLU?I]8AFJS
MV7L=IF8ZOP,4R;)'7<.Y*8EG+2/8M4$$S'.HJH4A2ESG.<8QD3+2-&UCF#4;
M6D:#B9.=JU^:C;L8]J=Z]<E)I*,+=N,ISDVTDHQ;;:2VG#:2JW1%,-4<FN-V
M^5I%MHWD'I#<SB(RB660U1M>A[$6BS.$UED,2*50GY@[+*R3=0Q/-P7Q%(;.
M.N,9Z5;SCTHZI=.[=J[U`Y:U_0K5^O=O4-/R\)7*-)\#R;-M2HVD^&M&TGO1
MWN0G:EP74XS:K1JCIY:/L*WB@#J02>]A^?[X?_[JX8_EOE!]"W@,_P!W%SM]
M1S/_`$5;)Y@?B?+_`.4^Y1)VP^>DD9\KY\RC&;F0DGC6/8,T3N'CY\X2:,VC
M=(N3*KN7*YTT4$4RXZF,8V"XQZ\CVQ\>_EWX8V+"=W)G)1C"$7*4F]RC%)MM
M]B2JSAM)5>XMIA>;W"ZQW+&NJ]R\XOSVP<OY.*Q1(7?VJ)2Y9DX1)XM,QV*P
MQMB\W[?$(Q[@[I'R/,;E04RI@N"&Z74SN@?772]#_P!9]3Y*YMQ^6N[MW/6[
MNCZA;QN[NN*M3[^>.K7!<<X*W+CX9N<5%OB5?5VKL;7?RC)6:)\5'PT>YUW4
M=53RET`M*>8`'S/'K..:.7\@[;,&#)!5T\>O%TFK1HV0)E19PY<KG(B@@BF7
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M&3T/ZU8?+?\`KEE\G\T6N4.[C/UZ>E9\</@G)0A/UF5A6>&<Y1A&7'24I**;
M;2._=S[KO^%]Q^VIZ.^F_=OV>[L+D!:XZ``4`VERPXM:-E&D)NODKH#3\U(%
M<'81&TMQZZU_*/2-,-C.SM&%LL<0[<E;8>HY4R0AL$PJ3KT\1>MQ^4>CG5WJ
M!B3S^0^5>9-;P;;BIW,#3,W,MP<N+AXIX]BY&/%PRX:M5X94W,[V[=R\VK,9
M3<=]$W2NZM-U:,JG2;Y1ME5R.N&N;G4[_4I=NU>1-II-BA[57)1H]9MI%FZC
MIN">/XQZW=Q[U%=(Z2IBJ(JD.7.2F+G-(:]R[S!RKJ=W1.9\',TW6;$I1N8^
M59N8]ZW*$I0E&=J[&%R,HSC*$E**:E&47M31T>QN+^4G1KR-;T_.=L$G``%&
M]K\BN/NAD6#G>6]=-Z8;RBR;:,<;7V=2==(R+A5-TLDW8*V^;ATW:RB+%8Y2
M)Y,;)43YQCH0W2N.3NF/4GJ)<N6NG_+VN:[=LQ<KBT_`RLUPBG%-S6-:NN*3
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M-VM%=I\`T*J=U.6F;C*_#MB(-7#Y<SB3EG+1DB5%DT56/DQ\8*DD<^?DESG$
MSTC1-9Y@S8Z9H.)E9VHS:4;6/:G>N2K*,%2%N,I.LI1BJ+;*44MK2.)2C%5D
MTEYRW2I\\>#E]L$?4J+S,XI72U2^7)8FLU/D1J&QV"3,S9N)!X6/AH>X/)%[
MEK'M%5U,)IF\"*1SFZ%+G.+G:SX>.O\`R[IMW6>8.1N<<#1[/#WE_(T;4K%F
MWQ2C"/'=N8T81XIRC"/%)5E*,5M:1[W,>_:@[EV$XP6]M-)=F]HNLQG!L8,7
M.#%-C&2FQG&<9QG'7&<9QZ,XS@6?::='O/$U'`.G7S8FO]5UB1NVS[S3M<4R
M()YDM;KY9H6H5B+3\)S^9(S]A>QT4R)X"&SU55+CIC.?@$[Y=Y9YDYOU:UH/
M*>GYVJ:[>=+>-B6+N3?N/=2%FS"=R3JU\F+WA;6HKY3:2\[>Y+SOL1\^N]GZ
MTV]66=UU/L.C;0ILCE3$?;==VV`NM9?914.DKAG/5J0DXISE)5,Q3>!4WA,7
M.,^G`]>9N4^:N2M5GH/.6F:AI.N6J<>/FX][%OPJJKBLWX0N1JFFJQ54ZA[)
M.+^4G1KM378_(SO(I\``````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````!@R[^G;XOO/+B#&*::C<SVZ=!VEUL:FU-/+=-Y>8%]$J
M15VIT0LO@OAGGC%-L^8I>,N';F.(V^[6)DNP/V<WB4Y=\._6N['GF[ZOR)S'
MAQPLG(=7'$O0N*YBY-Q+_P`3&;G:NRH^[A>=WY,))Q>!DQP\N-^?V.CC+95I
M.CJEYFE7>Z5HFZ$>OMY>\:;0X5Z^IW$_EKH:;V+4=*H.M:QME@7I*7N;7U?I
M[9Q$0M#L=&LK!K"6=[3G;!.'*1=Y`.V3%+&%\N7#?.%]E7B7]F%REUWYDSNL
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M98WG>V?_`"7Y!_#]5^XX)46O_+L^Y/\`Q";L-!I(""-?O]*^8?CZUM_U8*L/
MH7Y=_P!SK<_-W-_I[()Y/\G?[]?=T2L^[!^;2YR_T9ML?O5?C3WX.?[5/3_\
MZ]/_`(1`E.-]]6OMT/KT0/NW8AS?YG\>I'M6\1O-IM'NN[;MOWDUM)T^D(>K
MMJ#.T75%"KM9N4[&)KOTJU[?1'RJD.W17<V%TX;DP3V=HZ-CZ'/$U<Z!="^I
M=KQ?=:*9W,&!H&+I&A8$80NWY9EG+U#+O7\:U<:@[_!EVHQR9RA##MPNRXN]
MO64ZCU#U?'R5FY"4YQ@E;A7?-.3;:INC6-);4FZT<N`R9;3]TMW)7=<2,[J+
MEY2-G;.9,&[MKKRTZEDM85^8=$\D\C%L-A(['OQT7?E>:5D=U#MF[E;"95U&
M:9SJI8I\H>V5Y'U/FBUI_.G)6?I/*=RXXRS<?489]ZW%U4+D\-X6&G&O"[JM
MY,YPBY.W&_*,83\(Z^JKCM-1[:2J]W8FHI[=FUKR^8J_[OQW)M_T_D'/=L+F
M),V9_+1Z]OA]3+['=O'M\H%_H6'KFU:=E9B2=N'<A`*Q<4\7BDE3J98+LS-V
MYS-UT$D:)]I'X6NG&M]-L?Q9=$;&+;P[D<:YJ*PHQCB9F'E\,<?4K=J$8QA>
M5RY:CD2BH]]&ZKMR*NV[DYPFI8V.K5O.P4O5I[&HJB7D=*>CN<9)TI+A5.)R
M+D/>Q_Y&W&_^DRG^2R_BU_L</Z\.:/S4?](88T3[^?VF7UT#%+QXX?<ZN^W0
M=$14G?"<>.#G$C36G-`:]D[#%2D_%6*Z:QUC6:1>K94*&QEH-"_VU_+1[D[F
M4=/HYI'L5D(Y%<RZ3H@S"ZF=;/#Y[/7F/F',Q-.?,WB`YTUS4]8S(6;ENS<L
MXN?GW\K$Q\G+G;NO#QX6YP4+%NU?N7KL;F5.VK<[,B)N9%C3,B<E%7,V<Y.7
MI44(-MQ5>%T;5&XTJWM<J*%>,YI>[N<L.`]`7Y1<;>0Q]VMM1LGUQMTA2ZS8
M-(;BH$?%$256M]+9Q-VN_P`]L(5@9RXD5FTNQD&;=+S$F[@F5C(1?0GVF?1S
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MKAC^6^4&PGP&?[N+G;ZCF?\`HJV1^!^)\O\`Y3[E$G-V:R0=.K=@M]FDFT-6
MZK"2UDL$N]/A)G%0<&P<2<M).U,^A-LQ8-5%5#?`4N<CY^-*TO/US5,;1=*M
M3OZIF9%NQ9MQ597+MV:MVX17;*<Y**7E9(FU%.3W(@/7BR]P+WD'D[?ZMIN=
M6U5PQU9-,4&T999F4B-;5"LNY3I!3UVBH-!1ULS<EI:PJLDU8'362CC)Y;IN
M&3;!G2OT7:!I7AN]EWTGTW5^>,>.L==-7L3<IV+5NYG9-^-O]ULXMRZU'!TS
M'E=C8N7DXROIJY*W?NTLPJ"WZKI%N,K\>/49+BIL]#8U2NWACOBY*KDZM)Q5
M(W,3/NC%P0K*[JO<[*W*7$L>11M`S/'F4@:RK*Y1P8[)>V,=QV.4;QY7'4F'
M18550Q/E^1C/R,6IP?;0Z)<U6-G4NGN59T-W6I7K6LV[U]6Z[)+'GIEBVY\.
MUVWE1BGL[QKTCEZ_*FRRN+ZO]?@_6.K=K;F?S$[77.>![7W.^4DE-1VB7B*)
M1?I++*6"(UW+V+_:NKK?J6YN,X,^TW?7?DQRD>;)6T:NK@WDQSQI)M%9OXN>
MA71'Q;^'W)\6GAYLVESGB6;F7E]Q;5FYFV[/I9^-J.+'Y&IXD>*\KRK._"+7
M'DV+V+>AY9UC&R,5ZCA*DN*LU[N^L=J4HNDI-433E)N54S-O[Q_^:<WA^[;2
M/Y6*J,"?9>?VQ]`_`-5_H_((+2_QC9]V7UDB,#P/T?SG[NO&C4'!#6%V::.X
M9<2F5G6VY<Y0DRO!WW8^RMN;'VS"D=P<6LR/L6<@&<XT(RAU'+9C$%;&?KK$
M7=,BJ;9O$/S_`.'WP7=5=;\0W-F!/F#KGSG<L+3L6V[2NXF%@Z=A:==<;MQ2
M6%:O2M7'=R8PN7<ES6-;A*W9ON,VR[MG`S994X]YE3IP*J2C%*,6WL;3D^))
MI2JE1.-95Y[N(>[T[A[>>AW_`"MUIR21W=#:OFJU(W!.+UI+:ENU):OIUI%Q
M=UKQX_8.PL2*,%8';(SA4CADNR34RYQU304,67>&?VEG)/B7ZB6^CW-7*TM`
MSM6L7X8SN9UO4<7*E"U*Y<Q;RGAX?`[UF-U0BX7876E:?I7(I]K&L6\J\L:]
M;4;5Q.-7)-5?8TTE26[>VVTJ;:JM.G>5W<N[YNG-4\`-9VEIKR%UM1"FYK\C
M)B7DH_.RZ^O9)"OU!G8B0Z;J:EE).E-4\O8E-5,MNG2.U'AF;%')\4)SOT=\
M*WL_.=]8\1_->)/4\_5-1_\`Z7T6W;A/U&\K$+V3*R[KC:MJ&5)JUD2C)Z=B
M.S&PK^1-1(6[C8NE9'?7%*=6^ZAOI1)N4Y/R2:4?E-*DJ2EMCP?,7W7_`&[Q
MPX^WW>.K>2\-OR2UE5I>[6O7:NGI'7,R[K-=8YE)]:H2#78NQ26*681J#A<C
M-5NQ.X(CX4C&5.5+,PZ(^UHY+ZH=2=.Y`YNY4O\`+F+JV7;Q<?-6I0S;4;]Z
M?=V5DPEA87<VYS<(.[&=U0<JS2A%S(BWKT97(QN6^&VW1RXUZ/GVI*B[7545
M7MW&6[W8KFYLOD;QYW%H#;=FG+I/\9YJC*TJTV)TK)2JNLMBL;&A#U1Q+N7+
MA_(XIDS1WI43.,8,BQ?MFZ9CIH8*EAC[6'H'RKTPZEZ'U'Y,Q,?`T[FNQEK*
MQ[,5"VL["G8=W(5N,5"'K-K*M.2ALE=LW;DE&5QN<NU7"AB7T[*2LS3:7D:^
M4DJ;([4TJNC;6Q)(Z[WZ.YKORE;(H/;6X.JV!'D'N5I`)WVTT=?RKW%M;\Y5
MBJ;K&C/4S)K5NT6M$_M[Z5(LV<1T<HV,@JGYZJR,S]G;X4NG.O<KZCXI^OZQ
MI=-=#G>>)CY:KB7)8<5<R<_+BZJ_8QVNZM8[C.%^\KJN0EW<(3XT_'L7./+R
MW3$M-5\DI;Z/M:58^BEZ;DEMVQ=B.K/=/MZWVMIV[D-S(JFM]D6`RDS.UVL:
MOF-W*-Y*2=O73W$Y=Y;96LOG*;,4Z2CI5%NZ2.[56*5=8B9%U\AN;_;&=/>7
M-4>B]-.1\S5.5\9*U9O7\^WI2<(1C&/=8MO!SN"ULE&W&4[<E;C!NW"4G;MQ
MZUR$/0M6:64DHKB2HJ;N%)I4W*C:IY-Q:IR#X(=QOW?J[USE3H+<R-_T\]GX
M>OV>[U**E8RL2"N'"JD32^0>H7TI)M\5FS^8X;L7R3Y\BV=*>!)]'R*S'*MX
M.FOB&\,'M(M`RND'4;0I:;SM;QKEZQBY%RW<OP5$KF5H^I0MVY=_8I"=VU*U
M:E.W'BGCY.+#(X/2WD8FL?N&3#@OJO!257M6WA=%M5*N+33HGZ5'PSB^$?*R
MG<V>+FH>2U*238L=CUE)U-U\KK#Q6I7.+76A[G4G"_A3.L>OV1BY;IJF(3+A
M`J:V"X*H4:`NO?1[7.@O5O6NE>O-W,C2\MQM7N'A61C7$KF+D16U)7K$X3<4
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M^7<[JY)SFI7^YO3JKEVW&Y.:CXQUBSC_`+AC6?\`1X[(OBHWY6TXM[7MJVV]
M\J-M&++9&M.:GN]_.&ARC&['F8E\>.N43(T^9FX36O(G6<?(NXR<I]U@5\+H
MI/FR+M=NX9O4'RD(\<H/FAU#>S.39=\K<U="/:4]`=1Q,C`5C-MJ>-<ADVK5
MW.T7.G"-RUDXMY4;A)QA.%RU*TLJW"YCWHQ7>VE$PN6-;QYPE'N\F';12<:N
MJ<7154N&DEZ+=&MBI)S'N\'PAVGW6N%.F*!QSM&M:O**;@UUOY*3VY,V>"@G
M%*-J;9L*FT;NJ73[^^4GE7&Q6*A$\MBMLHIK9RO@Q2$4T?\`@EZ^\H>#WKQK
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MJ:3X\_&]8?3:SJ6#HO-.3I^.O6[5J.3CV,/`LPSLB=NQ?R;5+-G&OWXI7I)P
MBN+@;:5+9,GG9LI8Z=;DHI56[9&-72NQ4JVJTCM(J/%7@_SQ]X&V9L_D1N7D
M`2M:_J5H5@'E\MS.6LT#`V.69Q<JXUSIC54=+Q,3$QT#7C1Z[U(KR,1P19J=
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M'6JJZ[7L,O7O(_YJ+</XP=*?E+@1A7[+?^V)HG\VZI_`;Q`Z9^,;/U4OK)D9
M3@EPGY8][#4NK=3N=K1^A.('!RJ*:U@)5U#N;VG.;2MLQ+W:QRL726DM32S=
MH<QDZW*\</)-NA%1I6:+?*JCASDVUOQ"]>>CG@,YSU?G*UH]WF/K7U`S%G7K
M<;L<1VL#'MV\6Q;N94K>3W6/&Y9F[<+=B<LB^[\[O!&U:2F4[EG2,B;X>]RK
MLY3K\GAA*3?#7TJ^DGN2K2LJ4C7)\T]VSFM%\0>?]-=[FC=Y7*^46A6GCXO#
MU-_17,?;]+/[3=5TYRN2,];8I*:NJ#HL"T70>+J,V3]Z7"I<.38&)E[VI6#U
M!ZU]-]<LZ%=Y?T/3M0R\?65=R(9<9XVJ0Q\5.U?A9QKCM8KB\NY"=J$;MVSC
MMP;M)D'?U5W<JUE.WPJRY=O%6,J*6RD=JBGP[6JO:5I]U;Y3XV#Q:VOQ3G'N
M5)WCU>/I=3FYDO+)^#7;:\A*KLVZF#FPX5B=B1TPX<9S@G@++H8QXO3TH7VO
MG2'_`%;ZNZ/U@T^W33^9=/\`5LEUJ_7M.4+:E)4]%7,*>-"&UU>/<>SM[:S9
M=K-[S;PW8I[UOC2+26])+A>WMDZ/L4I>2D6,1'/Y:4=(L8V+9.I&1>N3X3;L
MV+)`[EVZ74SZ$T6[=(QS9SZBXSD:BL7&R,W)MX>)"5S*O7(PA&*K*4Y-1C%+
MM;;22\K)0VDJO<0<NT?$N>YAWP>1_/.PL<R&OM22]DV56%UL.&Q6[N6PIJOC
MK#OF+S*[L[Z.UO!N'ORLI%3>0V#8*G\A(;__`!GYMKPJ^`/E?P[Z9<[KF76K
M-C!OI<,N*-NFH:U<A.-(J$\V["ULXG*WDM5EZ4R>9ZEBZ98PI<2G-\4DZ/<^
M)QJO).4>&G9'?Y9S0^?DD@``````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````!9?R>[=W";F3A=QR/XXZYV+/KL&,7].LQSFJ[,1C(Q]B
M2CXUKLZEO*[L!O&-'N3F*U))8;Y*LLF8ADUUB*7UZ3>)GKUT.X;72_FC5-,T
MV-R=SU3CCD8+N7(<$YRP,J-[#E.4:)W'8XZQA)24K<)1]K.1?QW6S.4=M:)[
M&VJ5:W/9Y4]R\A@PY`>ZG<1KJG,R?'C=VW]&SKSV=2,A+6E"[?UY&';ILTE6
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ML;5/(]G'!-M-.CVUI%N+)\]?W'5>0W#]IO6CY<?1+;O'YQL*`2=ER1ZTC[50
MUIA*/?DR4G@?QV764%\=,8PLF;&/0/G/U+D?6.FG6R?3W7^'YYT7F18=YQVQ
ME/'RU;<X/;6$^'C@_P!K)%,75*,)QFJ32::WT:JFJK9L>S81(_='?X1^;W[B
M='??W98W-^V?_)?D'\/U7[C@E0Z_\NS[D_\`$)NPT&D@((U^_P!*^8?CZUM_
MU8*L/H7Y=_W.MS\W<W^GL@GD_P`G?[]?=T2L^[!^;2YR_P!&;;'[U7XT]^#G
M^U3T_P#SKT_^$0)3C??5K[=#Z]&'KW4>A0<1P>WEL9%*+4LMVY-S5<DWK,Z"
MTBG`T;6NN7,#$2QT\>>V5:25PDW23<^?0B]*KCT+#-OVP_,6?F]?^7^6)N\M
M*P.5+5^$9)J#O9>=FQO7+:>R2E#&L6Y36^5IP?R"/UF2EG/9).,(K:MCWRJO
M*O2I7RIKL)18U(DJ('7=%BV^DO>/.-M[UX12)G;ULSAM>;$2.44_\83$O<(C
M6\^V]F)G!4B66K5LB+M)/P^T9<JG-\M8YL_0]X2,N[S][+[FGE[F9J]I^GZ5
MS-B67-+T+=O&N9MF7$][L9%]RMR=>#@A%>C"*4\P_P!UT;(A=VP@Y.*W4I&-
MQ;J5].LMON;MAD?]['_D;<;_`.DRG^2R_C%[V.']>'-'YJ/^D,,\M$^_G]IE
M]=`S==L&A0>M>W7PFJM?2BR,_P#)DTY8W:T*=!:+D)Z[4B'NEGEV;IMC"+Y*
M8L<^Z=8<8_V?S?,_OA@-XLN8L_FKQ-\^ZOJ3O.__`*UZG8BKJ:N0LXN5=Q;%
MN49;8.W8LV[?!])P\/82R])2O3FE*/%.3HU1JLFZ-=C5:-=A?&]9M)%F[CW[
M9!ZP?MEV;UFZ2(NV=M'21T'+9PBI@R:R"Z)S%.4V,X,7.<9]`L!8OWL6_#)Q
MIRMY%N:E&46U*,HNL91:VIII--;4SS:35'N()GN[:!]1]X'EUI.HKNR:_8Z\
MY`5(D9ERN\;Y9ZUWI2H^HR3I=4YE'#J.8E6;IKJ9,;.'JF,]<J=1]"GM-+D>
M=/!-R7S[K48/F2YJ>CY#N<*B^+.TG*GDPBDJ*,Y\,Y0C1+NH]D2>ZD^]TW&R
M;NV^U&KW?*AQ2V+9M<5V;.PWN]A^?[X?_P"ZN&/Y;Y0=/`9_NXN=OJ.9_P"B
MK9Q@?B?+_P"4^Y1)//>AM$A4.UIS6E8PQBN7>G7E74R54R6?F^[ST%2Y8OB)
MC.<E-%3ZV,E]1\9\.?1G(U-^!72<;6O%UR'AY7V*&N1OK97T\6S=RK>__P`I
M9CM[-ZVHE%AM9-JG^>M_7Q('';WY%=XW2NJ+?%]NFI[]EM23>PWDA<I74_$F
M"WQ!GV,WK=;;O(^0N4GIG8CB/E6=9^;%,QF'J1$$7":^$"Y<Y44^A_Q*=,O!
M!SYSCA9?B<S.7+/.=C3(PQK>H\Q7=)NK"=^_*,X8UO4\)3MRO]_%7W:DYRA*
MWWC5I1C5V58TZY=4LMP5WA2VRX72KILJNULOU_R]/>C_`/WC<T/_`*M^H_\`
M9<&.WZ.WLC_^L.1?_P`;9/\`V^0WJNB>6W_YQ_Y18GR5HO>UY>[3IN[>0G%O
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ML<XV+2D^U0CY$3'6_O\`7VF/UTR3%OLI3Z+W00Y2G(?4VQBF*;&#%,4U/F,&
M*8N>N,ESC/3.,C51TZ;CU!T*4722UG"_A-HDM[[%+ZE_$0Y?='#GQL3G`G@Y
ML)GI>BSG3P;."&.G.;.*F<Q.OA,8A538QG/IQ@V>GKR-WWMGXQ?+/($VEQ+/
MU95[:.U@57OT5?<7D*CU_P"79]R?^(8MN;6UN4['OG\D-C<3HJXSW)FJ;YO4
M-JV.HFNFNY+<HG1J$[H[I>&U])5:YM9\\;KR$=+GP:,<X8-T3N"^7EN54F7'
M07D_I#D>S[Y7Y8ZQWL''Z4YG+N)=SYY>;+3,9/+RXY45=S(9&+*RIYMVW!-7
MX=].4;;XN\<)1.G1L7='C'*IW/%.M71;+LJ;:KM2[2ZW_+T]Z/\`_>-S0_\`
MJWZC_P!EP6?_`$=O9'_]8<B__C;)_P"WSMZKHGEM_P#G'_E%'=_;U]XQY1:D
MMVBM\:2YC;`U5>D8M&TU1WV\HV%)(XA)N-L<2JE,5GC?"V",=1\Y$-G*2S1V
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MGO\`:8/K15H6X^]3(P\^Q;2,>AR?JMC(V=H).4?G6F:2A[A`N<I+E.GYK&=@
MFRZ9NGB(HF4Q>AL8R,_=)U?/T3V04L[3;D[63+E+(L.46XON\G5+N->C54=)
MV;LX-;FI-/8V12<H\NUBVGQ-;/([U&O<:JGY4Z$^(?.@2,A5^]UHI%G.`[C"
M9<+JQ7)A%17&/EG20=Z&.BF;/PE3.X4SC'P9/GXQO?\`8MSF]/ZC6FWW:O:&
MTNQ-QU=-^^HJON(J'0/E7O<A_CDL[B*^5D^*'&*27*F1>0X\Z6?+$1P8J157
M>MZTNH5(ISJ'*F4ZF<%QDQLXQZ\Y&FOK1CPQ.L7-F+;;=NUS+JD%7?2.=?2K
M1)5HMNQ>X4U9^PP^I7Q$,_L<?GZ.87^Y>8?Y=ZX-Y?C_`/\`=V\D_5\M_P!$
MWBH,[\38G_)_<I$XR\V*F5"EVRT[&F*]7Z!7:Y-3-VG+:[8,:M$U2.CG#J?D
M+$\E#$C6T(UBTE3N3KYPCA'!O'\GJ-`'+^F:[K6NX>D<L6,G)YDRLJU:Q;6/
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MJMFU>382.O>1_P`U%N'\8.E/REP(U@>RW_MB:)_-NJ?P&\2S3/QC9^JE]9,Z
M][L]5X:![6M*EXQDW;/[MM_<-EL3A%!))61EF=B1IS=TZ43*4[E9*!JC)`IC
MYR;":)2XSX2XQB9>U6U;.U'Q=9^%EW)3Q\#1--L68MMJ%N5EY,HQ3V13O9%V
M;2HN*3>]LYU24GJ-U-MI.*7F7!%T7D56W[K;[20"-;Y`$%:DLS]H[WC)6HE,
M:`T-RCLRL?&(9P?V#.N>34BJXJC=DWCTVZ+*+U[OE@G&)G615\F.B%?$;/CR
MN/H.UZ_'QG^S#6M.F3U$Y1Q%.X]G'Z[H4$LAR<W)RN9FD3=^2C*/%>R(47HJ
MV3II9>C*:C^ZXSILHEPI*NUU=%!IRVJLX[%L2<@3O[\JD>+O;:W"A'O\M+QR
M!PCQXI)$S.B+Y_"`QD37IX4[,AE&Q6&LXN9RFN8R29'9T"9/XU"$/K=]G)T?
MGU;\4FB7,FWQ\O\`+==9RF^&G^ASAZI&DG27'G7,:L4I2=M7))4C*48#!QWE
M9<+6S@3XI;GZ,6FTT]ZDZ1>_Y5:43*6^[A<5<\>.W96-@S+4R-TY16-YN>3,
MKA+*S:FG;HUW6L<F<B")\L5ZW&9F$RG,H8JDRKT-X<X*6KO:A=7UU,\367RU
M@S4M"Y2Q8Z9"E:2R5)WLZ;3;7&K]SU9M**<<:&RM6^^I7_6,V<Z44'P+RTBW
M6NU_3.5-WHTV5J9]QKE($``````````ZO=+Q2];U>:O&Q+=6*'2ZVR6DK#;K
ME/1=9K,%'-RY.N^F)V:=,HN-9HEQU,HLJ0F,>O(F^A:!KO-.KV-`Y9PLO4==
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MK;LV]/JF^%I45$FJNJ<8:>@5FW;NTM^1PJ_A4HK_`(IE`X^^]0<)=AN(Z*WU
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M1P``````````6C<ZN7M*X*<6MJ\F[O'EGVFOXAOBOT_$J>$<WJZS;YM#5&FM
M)5*(GUHPTY-O4B+/"L796#3"SI1(R2!Q>CP^=%==\0G5W1^E&@7'C7M2O2[[
M)[M78XF+:A*[DY,K;N65<[JU&3C;=VV[UQPLQFIW(GK8M2OWX6(_*G*GO;V]
MK5:)-T[:;-I%Y_M>/_\`KW_K8_\`]M(VU_\`<L?_`.RO_P"WO_YX3WY@_P#*
M_P#%_P#A%W_`CWD3_+@Y;Z=XL_Y&?X,/PLR%H8?3K_*(^FOS!]&Z+:+KYOT8
M_`74OG7VWZ-^S>'YQ;>7YWF=3>#P&LGXB_9<_P"P'HQKG5W_`%Y^=OF:U8GZ
MI\S>J]]W^7CXM._^=LCN^'O^.O<SXN'AHN+B4+F:3ZICRO\`><7#39PTWM+?
M5^4E`#4P2<``````````````````````````````````````````````````
M```````````````````````(.7O0VF]B:CY;<7><],\]&'D*Q7*.VF4V156M
M:VUIZW3=^K*KYR9V?!UK#"3A#M6^4$RY+!N38.IU-A/?_P"R4YXY9YTZ,\V^
M'W7.&6;;R[^7*TY4E?T[4L:UAWU"/"J*S=M-7)J4G7*M+ACL<I[I$K=ZS>T^
M=5QQ;JM[32A*FRB<?1I5[:[MC)5W`WGUH/N`:3K>U=/6V(7L!XB/_"/K-5^@
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MA'ZJ9WL-8K35WDF:N/#^/"!',$ZF\,E"X/E-,R&2X/DN,&SK<\1G/O+_`#;X
MM.9N?=%N0N<M7.;9W;5V":C=LX^1&WW\52KC=C:=U.E6I5:3="3WVKD[LK;K
M&<YM=FR4FUOVK8^TB'^[)<H]5\;.6&\--[NL4?K.2WK4:I6:A)W1XUK<9^$>
MBVN0;-M?R*\NHTS'V6Q%M;A-DBKX,JNV>6W^SJHD/NG]J[TCYOZI]'-`YXY!
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M??5K[=#Z]$6?W93N-Z7T(7:7#;>5NA-;M]I;`8[-U%<;/(H1-8E;S)P,+3+'
M1Y67>^2PAI:885J)4B3.%2(O%DUF^#8<&;)K[=?:N>&#GKJ*](ZX]/\`"R-4
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M;ZM/*G9($PE)7?94='O#L%U3GZR3E+)E$4#XQ]`O533,7P0>S?O=,M1RK"Z@
M:S@WM/EW;4N_SM7G-Y_=J;=88N#.]:5Z$4J6+4THSN*L\NIZ=I/<2I'+O2=4
MFGOIQ5J]R@E!N-4I-4W\1E,]['_D;<;_`.DRG^2R_C$7V.']>'-'YJ/^D,,\
M=$^_G]IE]=`NB["/<CTAR.X?:8XWRUUKU7Y%<?J+!ZKD-<3<LUCYBVTVDMVU
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MMX%C9:M155L:6Q*"KME51K5/>I1>WLH1WL/S_?#_`/W5PQ_+?*"X?@,_W<7.
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MDJ;XOBVOL23VJKC.9DKG3X>M+W.7M=:BJ>V9_.#FV24[%L:TW8?_`*<O.NG2
M46DS]/\`LIE<$^J/GZQ=#UO.U6.A86'E7M;G/@CCPM7)WW/]HK48NXY?W*C7
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M?-[MQ^:BT]^,'=?Y2YX>OM2/[8FM_P`VZ7_`;(U/\8WOJH_60+T.[9^;-YQ_
MT<-E?>-86*\&7]JSI_\`G1@_=40V/]\VOMUOZ^)AI]TX_D;<D/Z3*GY+*`,Y
M/;'_`->'*_YJ+^D,PF6M_?R^TQ^NF23]\_P&[G_%1L7]Z$P-6?3S^L#0OYXP
MOX3;))>^Q2^I?Q$.#W1W^$?F]^XG1WW]V6-X/MG_`,E^0?P_5?N."5'K_P`N
MS[D_\0M[[FDA=>UUWZ*_S/6JLC/4&Z6B`WE7L-6Z[-&SUBQU$VL]U52+EG)\
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MRIVI+%MX2OVYQR(PNN%[*E&/=JQ"5KO[5Z]9DHS`PKF=-J&RU&J<O(Z;%YW6
MC:JO1WM-QK>?VT^7.Q^<O$RE<E=D:8;:.=7V6LOT8K#6S2=E)-5"'E5HJ*N!
M5):KU=U'-IQRU<8;I8*[27;(INTU\D<E22L5XJ.B_*_A_P"LF?TKY6UV?,%G
M3K-CO[\K%NP[63<MJY<QJ6[]^,Y6HRAQRK;E"<I696^*TYSA[]KN+\[*DIJ#
MIQ+8GL5=E72CK%[=Z?N$3;_[5U_Z0/\`]&H;D?\`]G?_`.[?_P!>$W_^SO\`
M?_\`/D\$?/&2,A7^]V_[[<!/^#N3O^,Z`&]SV+?WGU'^VZ%];K!4.@;[WN0_
MQR5]PU_D@<4_Z-NC/R85<:=>N/\`77SA^=.J_P`/R"FK/V&'U*^(AC=DZ=AH
M+OX<JVDU*Q\2YL#WF#7X-"1=HLU9:=/NF,DR0\>1P=,SJ2/'Q3E8J).JADT#
MYQCY.1O0\>>GYVH>SIY/O8%FY>M8UOEN]=<(N2MVEI=R#N3:3X8*=R$7)[$Y
MQ5=J*@S]FC8E?_)_<I&;WWFBW[$JW;#FF-&2>_,MUW=JVH;2>LG2C4T=KM5*
MS6$JKG*2R)EV4A?J[`L%4LX.50KSH8N2]<XP$]E+HO+.K^+*QD<P.WZ]@:!G
MY.!&45+CS4[%FD:ITE##O9=Z,MC3M['6B<%I<+<\^VKCW-M*E>)J+:7FI\I-
M]L53:T6C^[=\=>W=L+B="7Q[1-(;3YAP=YM,CLK\($75;KL76OL]HDTM:NJG
M`V1*0>T^#>5.&;NVLFQ;H'</\O2^T&RB<B=Z/:C=3O$SRUUDR.7;&HZ_I'1+
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MUDC)"]2;G83N+9/%$&9Y++`YE$\'\E,RB29E,D+TSC&]GVC')%KDCP%8/).)
M=GD8O+U[0<.-W@X>\AB6XX<;DHIR4./8Z<4DI-1XGO<_UBV[.!CV6ZN%R,:T
MI6EN:K3;2ODJ21_>1_S46X?Q@Z4_*7`C5Q[+?^V)HG\VZI_`;Q+-,_&-GZJ7
MUDQ[MQ^:BT]^,'=?Y2YX/:D?VQ-;_FW2_P"`V1J?XQO?51^L@9X!KQ($BO>]
M+<67-RXVZFYB5--1I:^-UU:5BURK-RX9O$=?;+E(V/AY%-9NGD_M5>V4A%IM
M3>8EE+YV6,7.3=,#;U[(OJ[:T/JEK/1'66IZ/S3@2OX]N45*+S,&W.=R#4G3
MAO8+ONXN&7%ZO!-4JR::1-++=B:XK5Z#BU1-.B;7%7LIQJFVKDJKR8C>?W)6
MU=Y#=O:1XRTF5,Y5O&G]>2VT5:]+I.V4)M_9,ZK6]XR3N)66RWR?5M>UB[D$
M3.5%796SAPF4A<G-Y^:'APZ5Z/X'^0NL_5;7K/##3];S;>`KUMQE=TW!M*_I
M4(W$JTS[V?;LR5N,;;G"W)R:2[N(PH?-]C*R9-.];?=QXHO>J4>QUX;CE!TV
M*B3K3:I^-0JD!1*G5Z/5(UO#U>FUV%JE;B&:9$6D5`5V-;1$/&M44RD32;L8
MYFFD0I<8*4I<8QC&!\Y&M:QJ/,.LY>OZQ=E?U?.R;N1?N2;<KEZ].5R[.3=6
MY3G*4FVZMLD22226Y'8A+#D````````,6O<^[K&C.V=K1M*VY/\`"!NNY,WA
MM6:4AY-NREYXZ&#HYLEI?F(Z/5*&Q=E\M9^9!=9PMU1:HK'*KE++GPF>#[J#
MXJ^:IX>BOYMY#P9Q^<-4N6Y2MV4Z/N,>%8K(RYQ]*-I3A&$?3O3A%PXXC%QK
MN9>[FU[LGV17E?G?TJWM^1*37G8<WNXMRJ[@-W/:N06Q7\E7F$DX?TS5D$=6
M'UC0B*D502)7:LBKELK))LU3(J2;W+J4<$-DJC@Q>A<?39T"\,?1_P`-^@+1
M^FVF6[6IW+2AE:A=I<S\MIIMWLAKB4')*2L6E;QX-)QMIU;JS"T^QA1K'TK[
M5')[WV[%NBO,M]%Q-M5+&1D"1X``````%<N/W);?7%78#':/'G:=MU3>&&,$
M^=ZP_*1O)-<8/UC;#!O4GE?M,.?)\Y,RDFKMH8W0V4\YQC.+?]2>E?3OJ_RW
M<Y2ZEZ1A:QH%S;W=^%90EL].S=@XWL>YLHKMBY;N);%*C9X9&+CY45&_!2IN
M>YK<]C5&JT5:/:MCV$_;L_\`?:UYSZ5B]![T80VI^6+:*RI&-VBY6M`W<G'-
M3+23V@9>N5'<-<6C=!1R\KRYUC&;%,Y8KN$DW23+YQO&O[/3F;PYPO=1>GUR
M_K/1R=ZDW)<69I3G*D(YG#%1NXTI-0MYD%%*;5K(MVIRM3OTIFZ;>PO3KQ8]
M:)]J\G$MR\E5L;_:MJ)(7&M(EP``````'QR$@PB6#Z5E7S.,BXQFYD)*2D'*
M+)A'L&2)W+Q\^>.3IMVC-HW3,HJJH8I$R%R8V<8QG(]L;&R,S(MX>';G=R[L
MXPA"$7*<YR:C&$(Q3E*4I-*,4FVVDE4X;257N/.?[^?=:C.>>X(C2>DIA1]Q
MAT3.R3B)FD<%*SVOLO"+J%?[":XSC*IZU$1B[AC!&SX<K-W3ESG'A<D*G].W
MLY_![E^'?DF_S[S[85OJSS#CP5RT_E:?@UC=AAR[%?N7%"[EK;PSMVK2=;4G
M*J-'P;EA/*OJER2I%;:J.]U7EDTMC58I+<W**CV#943PR_\`81_.W<._W0[0
M_(7M`84>T5_L8\[_`(-@?TM@$MU?\7W/=C]?$]0`?)@4<```````````````
M``````````````````````````````````````````````````````````%#
M>2'''4'++35TT-O2IMKAKF\L"M)2/44.U?Q[ULJ1U$V"`E$>CJ&L4%()$<,W
M26?$FJ3&#8,F8Y#7`Z7=4.=>C?/.#U$Z?9DL'F?3[G%;FDI0G&2<;EF];?HW
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M%NU"+>`WAQ@N3EK3+\4GLI>7[$]:T72>4LG5;*;A;Q.39VLF;EZ,E;N9&D8M
MF+<92XN\OVTX\2JVU%Q%W+T6-MM6X3_N5;57M_NDELW[7[FW895>V![MC6^-
MFP*ER!YFW>J;@V137S.PTK4%&:R:^JZG:8N17=P]DLMFGFL1+;$D8XJ;1P@Q
M^:XV.9/TS^8:32\LV,/_`!9^U+U3JERWF]-NAF!F:)RMG6Y6<K4LN5M:AD8]
MR"C=L6+%F5RWA0G6Y"=WUB_>NV91X5BSXDX#/U6>7#N;*<++W_MI*BV.FY5K
M5)OB5*NC<7*N&GXE!%D[DONU%*Y0;3N>_P#BKM6$TC?KX[GK/<]97:`?R.L+
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MWAA&4L"VYVV[CC"25J7M+7K:A%PMMW-E4VDELVT=&WMW52JMNS<2TN`/;HXZ
M=N35;S6VB8B3=REE=LI?8NR+8Y1DKO?YQFQ39(.)-V@@V9Q<*P(4_L46R219
M-,JJJ8*=PLX76TU>(_Q.]3O$_P`WPYIZA7K4,3%A*WA8./%PQ<.U*;DXVXMR
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MU?C+[IUL/Z61<MS!Y(4%I38V8,O)TCCVTM%CF+;"HH-3(,B[`V!7:,E3'+MX
MHMA<Y(&7R5NB7"9L*+^-K-NJ_MCN6OF:]A=$^5]1GKEVQ2WE:S*Q8MX]UN59
M>IX=[+>3&,5%P3R\:LY-R3C;X;T3DZXY1<,6+3<=DG2J=?VNU/9N;>_?%I;9
MC.D=):OXY:JI&E-,U*/I&MM>0;6`J]>C\KK%;,VQ<Y4=/G[Q5Q(2\Q).3'</
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M9E66;`5%$QS%*Z5P3!C[#<KVQO06&BN_A<L\WW.8NYBU8G;TZWC=ZTN.'K4<
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M;9W`OA+0N-NWYVAV2\U:T;#FY"5UM*6"8J:S2VV^3GXY-F^L]7I\PHX09O2E
M7P=@F4JN,X*8Y>AL^GC-ZX\I^(GKUJ/5+DG'U'%Y?R\3"M0MYUNS;R%+'QH6
M9N4+%_)MJ+E%N%+LFXT;47L&9>CD9=R_"JA)JE=^R,5Y^U%P7.31MLY,</\`
MD=Q_HDC78FY;?U-;J'6I.W.Y)A66,O/QJC-FYG'D-$3TJVC4U3XRJ=NR<JX+
M]RF;/H%MO#_U`T;I3ULY7ZD<PVLJ]H>B:SC9=^&-&$[\[=F:E*-J-VY9MRFU
M\E3NVXM[Y(\;4E"]"X_DQN1D_<C)-_$6`]D/MQ[O[:N@MM:KWI:=56NPWS<!
MM@1#S4TY;IV&;0QJ76*YAM).+A1Z(^1D_;H54_@2;K)>48F?,\6<E+D=X^O$
M_P`@^*?J-HW-_3[#UC#TW3M$]3N1U&UC6KLKOK5^_P`4(XV7EP=O@NQ593C+
MB37#2C<7J.3;S,E7K::CP*.VE:IR?8WY49<=F5I]<]<;`I\6JT0D[72+76HY
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M]/[_`*XY=MV:Z\I2;Q7EFT=?-<6)9$J!IZGS+EH^;H*.$DRINFCE!RP>I%*5
M=$^2)F)AYX?_`!$=2_#9SO'G;IQE0A=G%6\K%O*4\3-LIU[G)M1E!M)MNW<A
M.%ZU)MV[D>*2E`6;US'NJ]9=+D?@:[4UVI]J]QJC2:B,;>]TTY-1M@R70G)S
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MUF_>B[=A=W!U7%6LFNRFQ*+IO^4U7T6FDR7=`0$)58*&K%:B8^!KM=BV$'`P
M<2T181</#Q35)C&QD<R;$3;M&+%F@1))(A<$(0N,8QC&!I:U'4<_6-0OZMJM
MZ[D:GDWIW;UVY)SN7+MR3G.Y.4FW*<Y-RE)MMMMLDR22HMR(WW^9MY._Y[3_
M`#DGTZT/^`W\*/TV^BOTGV#^%?YJ_!%]`?9_F/\`!?\`1#YP^>/VWP?/OE^S
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M;>36F;=2'4E,+-$-X-+OKJU04095JI`1[AU0JEM&(M<DDBLLB\>%1A4E#-R+
M)M28<&0;;,N0/;(]-,G2(KJERIKN%K\+5M2>E2Q<W'NW*25Z<8Y>1@7,>#:C
M*W;<LJ24Y0E=EW2N79W9UV#5,B#326V.VK[=CI3S*LO=\MRW$GW4BKURP0EJ
MYH[[;;#C62"#B3U'I2/FJ]`R4IC)\K,I':4Z:.M#VO%Q@N#%90T.^6ZYR5PA
MX?E6KZS>V&U?5--R-(Z$\NSTS*N2<8:CJD[5Z]"WLI*&!:X[$;V^CNY.3:C3
M;;N5V0N1K>1<K''2MQKO^5)JNS8UPQV;U26_8U2I<KKSL;[IXY=WBK<WN-$S
MQUI_%>$MI'I-0$FKY3KG`4^TZO7UY?X&$KD'K*PTV0RU=2SV0CDUI=LF\4\O
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MPQ8OLXI+;[D?,TWQ-K;MC%[-E9X(^>,IX````````+&^XESCU_V^.+=ZY"W8
MK.5F&*>*YJ^CN'^&#C8NSYAJ\/6*HV6*55PFSS[&L]D5TDU5&D4S<KX(?*>"
MFR`\,O0#F3Q*=7-/Z:Z"YV<*X^_S\M0XXX6!;E%7\B2V1<O2C:LQE**N9%RU
M;<HJ3:]K%BYDWHV;:?$WM=*T7;)[5L7NJNQ+:T>6AR(Y#;;Y4[ANN]-W6Q[<
M-AWJ45D920<G5PSCVOB,6.K\`Q.JJG#5J!:>%LQ9I9\MN@0I<=<]39^NGIET
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M.%71O6;:;78VOFQT?E573RL\/G^7^97^'_\``+3^0?NM'./6L;(3FD-AZBY%
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M5G<M7FJ(S<.6#?[EOB@U6+\J\C[.*/;3RI[.*BS<#`@A````H7R)Y+:,XGZR
MFMO\@]D5W6="A$U,J2DXX/EY*O2H*+HPE:A&:;F:M%B>D2-[.PCV[AVMG&?`
MGGIG.+@],NE?4'K'S78Y*Z;:7DZKS%D-4MVH^C;C5)W;]V3C:L68MKCO7IPM
MQ[9([0C*Y-6K:;N2=$EO?ZM[>Y+:Z)$!;NV]^S:7.E"?T3H)I.Z:XL++G9S"
M:SS#;8FYV:)L]#7A:.5,W@*@Y-T,6`;K."KX(4[Q=;Q8;H_1EX,O9U<H^'RY
MC=0NHT\?7.KT8\5MJ/%A:9)_]%4U6]DQW/,G&#A5QL6X4=RY4FGZ1W4HY&5M
MNK:H=D7Y6_II+93LBZM<349*.Z-F9/0`,O\`V$?SMW#O]T.T/R%[0&%'M%?[
M&/._X-@?TM@$MU?\7W/=C]?$]0`?)@4<````````````````````````````
M``````````````````````````````````````````````````````````!C
MY[L'YM+G+_1FVQ^]5^,D_!S_`&J>G_YUZ?\`PB![8WWU:^W0^O1A5]TU_DB<
MF/Z1[?\`)E3AGA[9'^NGE3\UY?P[))AK?W^OM,?KIDK`:?"4@`16?>Q_Y&W&
M_P#I,I_DLOXV^^QP_KPYH_-1_P!(89-]$^_G]IE]=`S+=I/\V;P<_HX:U^\:
M(P;\9O\`:LZ@?G1G?=62W(^^;OVZY]?(R(#&8\@`````````````````````
M```````````````````````"DV^YR_5C1NX[-JE*+<;.K>KK[8-=M9N,=S,*
M\N\)5I23JS&7B6#V-?R46^FVJ"3A%!P@NHD<Q4U"'R4V*RZ=:?RYJW4#0]*Y
MP=Z/*>5J^)9S96IQM78XMW(MV\B=NY.,X0N0M2E*$IPG",DG*,HU3XE)13DT
MVEMHM[IV)T=&_<?N,\_C?'='[N'=QAI+A-6M*037$U88Z+V+K[CQJ^^U^7D5
MHB7450A=IS]_O5TQ2JS&SL9A9[ETZAF::C'_`&VIY2:I<_2'T\\(_@P\&&=:
MZ]:KKV1-V,:=S"S-9S\2];@KEM)W=/LX>)B^M7YVKG#:[NWDW&KO[C'CE!E3
M+$TK!E#*N7*IJL$VI)[J2BHJLJ53354J\6])J;3VS^$D)V_>'VLN.S)ZUF[3
M&I/K7M"TM44DDK/LRUK%D+,];G(V:*KQ,3T1BHPRQ/:/FN/;85R93!C9T*^*
MKKWG^)'K9JW4W(MSQ](NRACX&/)MNQ@XZX+$6G*25RYZ61?47P>L7KK@E&B5
M/W[TLF_+(FE&4W6B[*))*O;L2J]E7MHMQ?N,=#R````````#SL/>4>;#_D/S
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MOLXOH16Q;VY9Q!@"00```6`]P3MP<<^XKJES1-R5IJTNL/'21=7[@B&;=.^:
MUF7B7B36C)+&$UI.MNGB:9Y"'<',Q?%(4V2D73172R/\-OBAZG>&/G"',/(^
M5.>@W[L/7]-N2;Q,ZU%[5.&U0OQBY*SDP2NVFVDY6Y3MS];-^_C3[RQ)QG]!
MTKLDNU;7YU6J:>T\P;E9Q@VQPXWUL+CQNB$S$7:@3"C(SEOYBD+:()Q_MBNW
M.L/#D3R_K5IB3I.VBABD6(53*2Z:+A-9%/ZR^C_5GD[KAT[TWJ9R+?[_`$'4
MK"EPNBNV+L?1O8M^*;X+^/<4K=Q)N+:X[<IVIPG*ML3)MY=A7H4KVJM>&7;%
M[MWN*JHUL:+=Q<PB#(5VM>9,GP5YN:8WH5\JVI&9U"A[A:$-C"4GJ*ZO&4;<
M?.3\I0ZZM=(5";:)XR3S'\4@4QBER88U>+KH=B>(3H'KO3YVU/7_`%=Y>FR[
M8:CBQE/&HZI)7O3Q;DG6EG(N-)NA+]4Q_6<.22;N0]*-*MMI/8DFJN2K%5K1
MNM&TCU;VSEN\;H/&:Z+IHZ12<M7394B[=RW7(55!=!=(QDUD5DS8,4Q<Y*8N
M<9QGH/CRNVKMB[*S>C*%Z$G&49)J49)T::>U-/8T]J>QE&;]J-X>8([W?5[N
M^[NVR;3]`T50J#,6S<];MTX6^7SYVEVU02JTM!QRB$?48YQ$MY5^^3E\F37<
MO,H(&3^4W6QGIC9E[/CP6\@^*5:WS'U"U'4K&C:%E8UKU3$[NW+)>1;NS3GD
MSC<E;A!VZ.$+7'-/9=@T3#3L%9UR<93<802K1*KXN+<WL5&NV+KNV;R`_P`B
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MZ>1T=/<?D/E'L<F7_L(_G;N'?[H=H?D+V@,*/:*_V,>=_P`&P/Z6P"6ZO^+[
MGNQ^OB>H`/DP*.``````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````````````````````````````````````````````IYMS8T)I[
M5.S=M659%O7=7Z^N6PYY=PKY"",/2Z[(V.2466Z&\I,K.-/G)NF>F/@R*EY+
MY8S^=N<-)Y,TJ,I:GJ^I8V%9455N[E7H6()+M?%-40?%3T$Y3[$MK;[$O.SQ
M[[[=;!LJ\W38UL=%?6J_VRQW6RO2)^41Y8+5,/)V9=$2\1_+*XD7ZA\%ZYZ8
MSTZC[:.7=!TWE7E_`Y8T:#MZ1IN'9Q;$6ZN-G'MQM6HM]M(0BJ]M"O[-J-BS
M"S%MQA%15=]$J;?.=3$Y/0D_>Z[\/8W<G+*_<H;A%J/:WQ;K<>E2B.6SDK!Q
MMS9B,U$Q<DFXR<K&04J%-BY94[8Q53-W<@P=?M9TT<FU,>ULZVY7(_1O3NDF
MB7E;U3F[*F\KAE'CCIV"[5RY!QIQP63DW,>*FG%3MV<BUZ4932D&NY%(1Q8T
M]+TI;56B?HU5*T<MJ=5MA3;M/0!'S@%-@``````1*?>I^'T9;=(ZEYJ5N):I
M6W4EB;:GV5(-TFZ3N6UM>7*SBGNY-QE#VAVE3KX4S9HGA3'@^DBYO";&.I-S
M'L@>MF5HW/VL]"-4O3>C:SC2U#!@W)QMYV)%+)C!5I%Y.)2=Q\.WU*VJK=*<
M:-DRM97J[KW=U/R[)13==]$G%--T;;45N1!6'T'%5@`>J!V9=\+\BNV9Q+OD
MB]?/Y^$UPEJJRNI1S[;*NIK3DI(:Q4DI-V99PLZ>3K*K(2&553F76*[P=7]L
M,8?(9XYNG=OICXK.<N7<6W;MZ;D:H]0L1MQX;<;6I6X9ZA;C1*,;4LB=E1BE
M"+MN,/12*$R[7<95RUZ*2FZ);DGZ45N5*1:V;EV&3\8F$.0>?>WOX7.%WXN-
MO?OFI8W]>QC_`",Y[_G33?N&43_0/LE_ZFW\<R(,-UA4AFX[5'9/WOW$Y^-O
MUL0F].\4H]\<L]M=\Q*VG+O[+G)7$!I^+E&JJ-@>F7QY*\NJF:'C\E4P8[AR
ME[&?`CQ@^//IYX9=.N\N:-+'USK#<MKN=/A/BM8O%NO:E<MR3LQIZ4,:,EDW
MJP:5JU/OXR?4-6AC_N6-PSOUV]L8T=&G1JLMZX:JF^5-BE?![S%H/4O&(W;[
MT?H^F1=#UK0]2[;C("`C"&-G.36FFKOY:6?KF4?35@FGRBCI^_=**NGKI4ZJ
MIS'-G(L#[*CJ-SGU874GG_G_`#KVH\U:CK.G7+UZX_\`Y/E*%NW!4A:LVH)6
M[-FVHV[5N,80BHI(A=#G.Y?R+EQN5R2MMM]OR_U);DMBV$6<;=2HC+_V$?SM
MW#O]T.T/R%[0&%'M%?[&/._X-@?TM@$MU?\`%]SW8_7Q/4`'R8%'````````
M`````````````````````````````````````$<797O/G`?5FQK_`*QL&H^7
MSR?US=K50YMW#4'3#B(=2]0G7]?DG,4X>[^CGJ\:N]CCF0.LW05,EDN3ID-G
M)<;0.5?9->(OF_EC3>;--UKDJ&G:I@8^7:C=S-3C<C;R;4+T(W%#1YQ4U&:4
MU&<XJ54I26US6SI&3?LPO0E#AG%256ZT:KM]$Z5_:N.W?_R-<T/^;O1__:*$
M^_[GCQ,?]><B_P#INJ_]BGI\QY?[:W\,O\D?VKCMW_\`(US0_P";O1__`&B@
M_P"YX\3'_7G(O_INJ_\`8H^8\O\`;6_AE_DF7_M\=PS2W<EU#:]TZ-K&T*I5
MJ?LB2U?)L-L0M4@Y]>?BZQ5+6X>,6M0NMZCE8<\=<&Q"**.DELK)JXRE@I2'
M/A1XE/#3SWX6N=</D3J!EZ3F:OFZ7#/A/3[N1=LJS<OY&.HSEDXN)-7%/&N-
MI6Y1X7!J;;<8R_*Q;F'=5JZXN3C796E&VNU+R%"U>\=QD2[A&.VR:B[WSO/-
MM2IOTK+6-?\`X)_G-:A$V(5?Y]SL_%P]@Q"'PEDWS%YGM7R?!Y?[:+@P\#_5
M>?AK_2E6H<O?[/O4GD^K]_F?.'=K+>%3NO4/5N/O5Q4];X>[V\7%Z!SZG=]2
M]>K'N:TIMK\O@\E-_GW?`99!AN0H```````````````````````8L^XKW<^-
MW;*F]60.^:3N^VO-NQ=JEZVIJ.MT.>;,FU0=P;.2).'N6RJ$JV775GT<H8;D
M<E,4I_&8F<%P;+OPR>"_JCXKL#5]1Z=Y^@85C1;V/;OK4;^79E.63&[*#M+&
MP<M225F7'QN#3<:*572,P\*[FN2M.*<*5K7MK2E$_(S)I79MI9J_!6-@FX28
MV"'C)MFD[(FF[2:2K)!^W3=$1571(X(BOC!\$4.7!L9Z&SCTC%+4\"]I6I9&
MEY#C+(QK]RU)QJXN5N3A)Q;2;BVG2J3IO2W$%%J45);FCF!`G(```49Y$[RJ
M?&?1FU>0%[CK%+4W4%)G+Y98RHM(U_9GT1`-#/'C:#9S,O`Q3F242)G"1'#U
MLEDWW2A<>D5STRZ?ZSU6Z@Z/TWY>NXMG7-;S[6)8GDRG"Q"Y>EPQE=E:MWKD
M8)_*<+5R26Z+.T(N<XVU\J4E%>[)I+XRV?MZ=QS2'<JUI=MJ:+JVU:I7J'>L
MZ_EV>V8.HP4RYF2P$/8\N8UO3[Q>V*T9[#-)$\:KA%7S2GQY?AQ@QKK>);PP
M<_>%CFK`Y0Z@YFCYFI:CI_KEN6G7<F[:C:[ZY8X9RR<3$FKG':DZ1A*/"T^*
MM4O;*QKF'=[FXTY<*ELK2C;7:EY&7_#'`AP`,2/<+[S/%_MJ[(H^K]Z43?5K
MG[_2#7V'>:FJ^O9V';0Y9Z4KV6TFXN&T:(]1DO;8E0W@2;K)>48N?,\6<EQF
M=X:?`SU:\5'*^H<V]/M1Y=P].TW/]4NQU&_F6KDKG<V[W%;6-@9<7#AN1593
MC+B37#2C<7AX=W-E.-IQ3@HMUK]-Q4I1/]JZ^\96H.7;6"$AYYF1=)G-Q<?+
MM4W)4R.4VTDT1>($<$2562(N1);&#X*<Y<&Z]#9QZ1AYJ&%=TW/OZ=?<7?Q[
MT[<G&KBY0DXMQ;2=*K95)TWI$&GQ)-;F<H(0Y`````,,O-#OQ\`.$5_D]3W6
MR;`VQM"NR+6-M]'T75X>UO::NY;/G"I+%8+5::-24'L<=HFD[8(2CB3;*NDL
M';8QYIDLYNA7L\/$?U\Y<M<Y:#BZ;HW*63:E/&RM6R+F/')490BG9LX^/EY3
MA/B<K=Z>/"Q.-N;C=;X%.-Q,#)S%QVDE:V^D]B;6]+>W[J5*IJM50N$[>G<]
MXY=RZM[`L6@(C:T";6#Z`87*%VG3H^N2$<M:/GTT#[+(UZQV^J2QGR%<<JF2
M:22R[5/*>7":65D\&MKXEO";U/\`"MJFFZ9U'O:/D+5K=Z>-=T_)G?A-8_<]
M]Q0O6<;(M\#O0BI7+$87)<:MRGP2:\LG&NXEWNKM*TJJ-.J\M/E)5JMJ56G2
MM#(L,8R'```````````````````````#HVR-FZ[T[2YW8VUKO5]=T.LM#OI^
MW7*;CZ_`1;8OHP9U)22[=L558_0B2>#9464-@A"F.;!<U!RORIS-SOKN/RQR
M?@9>I\Q9<U"SC8UJ=Z]<E_<P@G*B6V4J<,8IRDTDV.U);VZ)=K;W)+M;[$MY
MVN,D64Q&Q\O'+>T1\HQ:2+!QY:J/GLGR";EJMY2Y$ETO-05*;PG*4Y>O3.,9
M]`D^7BW\'*NX65'AR;-R4)QJG24&XR54VG1IJJ;3[&T<)IJJW&*E7O'<9$NX
M1CMLFHN]\[SS;4J;]*RUC7_X)_G-:A$V(5?Y]SL_%P]@Q"'PEDWS%YGM7R?!
MY?[:,P(>!_JO/PU_I2K4.7O]GWJ3R?5^_P`SYP[M9;PJ=UZAZMQ]ZN*GK?#W
M>WBXO0(OU.[ZEZ]6/<UI3;7Y?!Y*;_/N^`RR##<A0``````````````````Q
M7][?87X,NU5S1L?@<J?.6KV.O?"U3*HKC\+=VJFJ?&8IGC'&&R?TT\2QO&;)
M$<&-A-7.,)'R\\!/+7^M?B_Y$TNL5W6KSS/2=%_ZNQ<C4*?)GZ3]5I%45943
ME"O'&*PK4[N9:C"B:N1EM\D7Q/WZ)T\YY:`^NHKD`#T2?=>]8-*5VVWMX+C)
MY#<>^]CVMPN<I<&(PK+.N:Y8,$S823,9L@ZJ#I?'4RG11RI\K'W)?F7]K3S9
M>U[Q26^7WLQM#Y=PL=)=L[\K^;.;VOTG')MQ>Q>C;CL[71NK7)7-0G&25(*,
M5YUPJ6WWY/WJ$C8:P27```````8X>[WKJ,VAVR.;M=E6:+YO$\?;WL5NFL1$
M^$9/4D?^%.)>)^=DI2+,I*G)*DSC/CQDGR>INF,Y0>"KF?+Y2\5_(.IX=R5N
MY>YEQ,*33>VWJ,_4+D73LG#)E%I[*/;1;2(Q.)9=K@;3[V&[R<2JO<:JGY4Z
M'E/#[!BNP`/0+]U1O#Z>X#;;IC]X=T6A<G[46&0,3!<1T%9]=:TER,DS$;ID
M43/8223CJ9117!W!L9\),)X'S=>V!T#'T[Q&:+KF-!0>H\I8_>NOR[MC-SK?
M$ZMT:L]Q#8HQI!-5DY,I'680AG-Q5)2A&3\[VQ^**6SR>4DZ#4\2HBB^\.=O
MWEKSOY`</Z_QFU)+7EK7Z+L=G;[>Z?1=;HM++,6NG8;+V.US[R/C4E2M4%G'
ML3;+F2701/E!LL;&"YW$>S0\2/1GP\]..=M2ZK:U9T^]DZAA2QL:,+E_+RNZ
MQ\GB5C'LQG-KB<8=[-6[$9RBKEV"JU--*S;&'*\[U:RC&B2;KP\=57<GM6]I
M;=YV/M_>[':$T@Z@=D\T;,PY([%9%:OT=60S5W&:&K\F7V!QY<J1\FVLVUC,
M7C94I#/TXJ)=-US)N8I;H4^)7XD/:O\`47GZSD<K="<2YRMRQ<<H//NRC/5[
MT/3C6VX.5C3^.,HMJR\C(MS@I6LR%7$[9>KY&16%G]SM5[&^)T;[52E=E4MM
M53B:="43&1D;"1K"'AHYC$1$4S;1T7%1C1NPC8V/9HD;LV+!BU32:LV;1NF4
MB:292D3(7!2XQC&,#4GEY>5GY5S.SKMR]FWIRG<N7).<YSDW*4YSDW*4I-MR
ME)MMMMNI*$DE1;B$/[V]_"YPN_%QM[]\U+&_+V,?Y&<]_P`Z:;]PRBH-`^R7
M_J;?QS(@PW6%2&7_`+"/YV[AW^Z':'Y"]H#"CVBO]C'G?\&P/Z6P"6ZO^+[G
MNQ^OB>H`/DP*.`````````````````````````````````````````````/.
M.[?_`!<T3S"[VN_M*<C*-^$364ELCEW//:U])KC4?.EJ_<[([B'?SS1;#6+`
MG[(X-DWED=E24]1RFQZ!]/WB0ZN=0NB7@*Y<Y\Z8:A\V<UVM+Y<LQO\`<8V3
M2W>Q;$;D>ZR[-^R^*.RKMN2^E:94.1E7\72L2=B7#*2@GL3V=U)]J?:D2T?[
M/5V?_P#HB?\`E]Y/_P#GJ&FK_O*_&Q_[Z_\`LC0?^RR7_.VH?YS_`(L?V!_9
MZNS_`/\`1$_\OO)__P`]0?\`>5^-C_WU_P#9&@_]ECYVU#_.?\6/[!D`XH<,
MN-?!^@SNK^+NM_P846RW!Y?9J#^F%]NOMML?PL%7G<M\Y[#M-MF&WFP]:9(^
M0DX3;%\GQE3P<ZAC8X=8NN?5/K]S'C\V]6]4^=N8,7"CB6KOJV)B\./"[=O1
MM]WA8^/;E2Y?NRXY0<WQ4<G&,4H2_D7LF?>7GQ32IN2V;7V)>5E,3]L_A(IR
MPQSA/I3KRBQ/)V;&S_PC[;Q_X[2JQ:61[]"L7W&O/DUDF&WE_-/DY_V3P>;\
ML59'Q5]>X]'/]@$=>_\`RD]7=CU#U+3OL3R/6G#UKU3UW[/Z?%ZQQ?2UX/1.
M?6;WJWJG%_H]:THOVW%OI7Y6W?YMQ?<,>3P/F>/6<<T<OY!VV8,&2"KIX]>+
MI-6C1L@3*BSARY7.1%!!%,N3&.8V"EQCKG/0>MBQ?RKT,;&A.YD7)*,8Q3E*
M4FZ*,8JK;;V))5;#:2J]Q;S5.8W$6^75;6M&Y4<<+GL5LZ?,G%`JF\-96*ZM
MWL8Z]ADFBU5B+.\G4G4>]SY*Z9D,'25^0?&#>@7+UCHAUIY=T&/-/,'*'-&#
MRQ.$)QS,C2LZSBN-R/'"2R+EB-IQG'TH-3I*.U56T[RMSA;C=G%JU*E&U1.J
MJJ/<ZK:J=A<>+7G0`"A^T^3G&S1:K9#=O(31^G5GKC+1FCM/;%"UZJ[=%:HO
MC-FR=MGX@Z[C#%RFMDA,9-Y2A3]/";&<U_RATGZI=083N<A<M<P:Y;MQXI/3
M].R\Q1CQ.'%)X]FY1<<91J]G$G'>FCM;A*[/N[2<KB5:+:Z>6BVTVKX3[]4<
MAM`[X:O'VCMY:>W,QCG2[*0>:HV92]B-6+QJBQ<.6CQQ4)N81:NF[>4;**)G
MR4Y".$C9QC"A,YAN<>FG4?IY>AC\_P#+^MZ%D78*4(ZA@Y6%*<9.<8RC')M6
MW*,G;FDTFFX32VQ=%R$[4N"ZG&=*T:HZ>6C["L(HDZ@`4;VOR*X^Z&18.=Y;
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M1\YPL1,OB-CQ'-@N/3G&`P\+,U#(CAX%J[?RYUX86XRG.5$Y.D8IR=(IMT6Q
M)O<@VDJO8BU=GS_X'R-@:U./YL<1WUI?3"%=95IGR0TXZL#RP.GI8UM!-89"
MYGD7$PXD3E;D:D3RN=?."8+DV>@N]?\`#AXA\739ZSD\A<Z6](MV'>G?EHFI
MQLQLQCQRNRNO&4(VHP3F[CDHJ*XFZ;3V[B_W?>\$^ZX:\5'2E*UKNI3;7=0N
MO9O6<BT;/X]VV?L'J"3IF]9KI.FCMLN3"B+ALY0.=%=!9,V#%.4V2FQGKC/0
M6=OV+^+>GC9,)V\BW)QE&2<91DG1QE%T::>QIJJ9Y)IJJW&/CNV?FS><?]'#
M97WC6&2G@R_M6=/_`,Z,'[JCUQ_OFU]NM_7Q,-/NG'\C;DA_294_)90!G)[8
M_P#KPY7_`#47](9A,M;^_E]IC]=,E3#4$2@`"!=[V3_*_P"-/]&U7\I]T'T2
M^QO_`*E.:OSI7\`Q2>\O_9K_`-3;^.X3F]:?P<:__<35/O$P'S\\U_E1J7X?
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M738Z2DD_H,2=(M^8\Z_L*<$M(=R7DYR#F^7C6Q;/A:136][D8`UKLM;<76]7
M^X+8=S]ELU6EH6SJ81PU>*J)H.T#N'#K!SGZ$R4_TV>T4\0O/WA:Z4<M8'16
M>-I.?GYTL2%[U>Q?6+B8>,N&S8L9%N[85>*U&+G;FH0MN,8^E55-JF3>P(V,
M?$?!;X9=B;I#A27I5V>EM[=BV[ZSM.)?!CBOP8K5LJ'%C5:6K:_>9QI9+4SQ
M<=@75:6F&#`L8S<J26Q+7;91LDV9%\!$$%DF^,F,;P>,YC9^>OK+X@>KWB"U
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M3::V^3;VER0M:>8`%--H[HT[H^!3M6ZML:TU!5UG)&2-DVC>ZOK^!5>*'333
M:)S%LE8F/.Y4.J4I4\*9/G)L8QCTX%5<H\B\[\_ZB]'Y$T;5=;U:,')V,#$R
M,R\HJK<G;Q[=R:BDFV^&FQ^0YC&4YJW!-W'N2VMTVNB[=FT[95[75KQ`1=KI
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MGBS14B6,&ZJ&2/@O7)<]*QY2Z><_\_Y3PN1-"UC6\Q*3[O`PLG,GZ"BY^CCV
M[DO14HN6ST5*+=*HYBG.:M0VW'N2VM]NQ;^QG6M5\JN+^])!]$Z1Y(:$W'*Q
M?LOSE&:KW!KW84A'>W)OEF7MS*I6*7<M/;$HMR9+S"E\PK=7)>N$S])IS?T@
MZM=/L:WF\_<K\Q:'AWN+@N:AIN9APGP."GP2R;-N,N%W+:E1OA<X)TXE7M<M
M7++2O1E!RW535:;Z5WT*]BW1T(2?O;LW,DO?"^N$EY0M><5+;DVX@2OW989>
M99S%-8-)=:+PKABK*-6+Y=%-P9/*I$ECD*;!3FQG?9[&/`P9<O<]:I*S9>IQ
MS=.M*]P1[U6I6LF<K:N4XU;E.$)2@GPN48R:K%-3W0(Q=Z])I<2C!)]J3<ZK
MWZ*OEHO(3-M:?P<:_P#W$U3[Q,!HRYK_`"HU+\/R/NTRG[?R(^XBT<_;/X2*
M<L,<X3Z4Z\HL3R=FQL_\(^V\?^.TJL6ED>_0K%]QKSY-9)AMY?S3Y.?]D\'F
M_+%YX^*OKW'HY_L`CKW_`.4GJ[L>H>I:=]B>1ZTX>M>J>N_9_3XO6.+Z6O!Z
M)%>LWO5O5.+_`$>M:47[;BWTK\K;O\VXON&/)X'2;]LS7&J*\\MNTM@4G6U4
MCT57+^S7ZUP5.KS%NWP4RZ[R:L3^.C6R*)3XR<QU"E+C..N?2)_RYRKS1SCJ
M4-&Y1TW/U76+DE&%C#Q[V3>G)[E&U9A.<F^Q*+;[!ODHKY3=$NUM[DO*RGNJ
M>4_&+>[]_%:/Y&Z'W+*17LOSI&ZIV]K[8;^-]N1D7+'V]G4;#,.&?MC>'=J)
M>84OF$:K&+UPF?):DYPZ0]6.GF/;S.?^5^8M#Q+W%W<]0TW,PH3X'",^"639
MMQEPRN6U+A;X7<@G1SC7O<M7++2O1E%RW535:;Z5WT*\"WAT``XF<GH.LQ;N
M<LDS$UZ%8$PJ^F)R19Q,6R3,8I,*.Y!^LW:-B9.;&,9.<N.N<8$9I^G:AJV7
M#3]+L7LG/N.D+=J$KER3WTC""<I.FW8F<-J*K)T11/5W+3BKO"8<UW2O)GC[
MM^P,T4W#N"U=N;7.P)AJW5RIA)=S&5.R2SU!%7*)_"8Q,%-X,],^C(KWFWHU
MU?Y`P8ZGSWRIS+HFFSDXQNY^F9N':DU2JC<R+%N+:JJI.JJO*>ERW<LM*]&4
M'*M*IJM-]*[Z552X(6V.@``````&#_WB[\TCR._=#HO\NFNQGY[,7^V=RO\`
M@VK?T3FD?I?XPM>[+ZR1YH`^JHK0`#TR_=VFZ"/:*XP*(N2KJ.Y3>[ATD7P]
M6:Y>0FTFI6Q^ALY\1FS9-;TXQGHKCT=.F<_*=[32Y<GXT>;8S@XQA9TE1?[9
M?,V!+B7]]*4?=B49JOXPN?WOUD3-H,"B7@``````4%Y4I)..,'(]!=)-9!;0
MNX$ED52%42524U[8B*)*IGP8BB:A#9P8N<9QG&>F1<3I#.=OJSRO<MMQN1YB
MTUIIT::S++336U-/<SRO?89_4OXCQ^A]L1<@`"=-[I4_=J<>N7$6=7JQ9[FH
MS]LAY:>/+=R5(<MWJOFX)A8_G(Q3?'A,;)2^7U+C&3&SGY\O;+X]F/4ODO+B
MO](GH67"3J]L892E%4K14=R;JE5UVMT5*1UO\84_\C#ZZX2V1IF)4`````0>
M?>WOX7.%WXN-O?OFI8W]>QC_`",Y[_G33?N&43_0/LE_ZFW\<R(,-UA4AE_[
M"/YV[AW^Z':'Y"]H#"CVBO\`8QYW_!L#^EL`ENK_`(ON>['Z^)Z@`^3`HX``
M```````````````````````````````````````````\X[M_\H]$\/>]KO[=
M?(R\_@[UE&[(Y=P+VR_1FXV[R9:P7.R-(AI\S46O6>P*>UN"Y+YA&ADD_6<Q
M<>D?3]XD.D?4+K;X"N7.0^F&G_.?-=W2^7+T;'?XV-6W9Q;$KDN]R[UBRN&.
MVCN*3^E394.1BW\K2L2%B/%**@WM2V=U)=K7:T2T?[0KV?\`_I=_^0+D_P#^
M94::O^[4\;'_`+E?^U]!_P"U"7_-.H?YO_C1_9']H5[/_P#TN_\`R!<G_P#S
M*A_W:GC8_P#<K_VOH/\`VH/FG4/\W_QH_LF9=F[;OVC5\T4\UJ];(.VRO@.G
MYK=RD59%3P*E(H3QIGQGH;&#8Z^G&,C!N_9NXUZ>/>7#>MR<9+8Z2BZ-554Z
M-=CH2Y.JJMQ!2>?Z6`3\>['_`*KC<?0C8_W.C_-V?]/2)X_R=_O_`/GS.M[R
M/^:BW#^,'2GY2X$:]_9;_P!L31/YMU3^`WB!TS\8V?JI?63(M_!#17/[NX\>
M-5\&-:6UIICA7Q/:6D^Q+K)K2WT2N.PM@[1O&V(M.9A(TS1[L2X1F+01-A$X
M4Q&PK5EA\X7;N7K0CC;AXANH7AP\&'4S6/$%S5A3UWKOSC/'6%BVU;]8QL/#
MP,73KCM79\4<+&N=PW=R&N_RKEWU>U;NVK%Z5N<9D\?`RI9DEWF9.G#&M%&-
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M-OC_`.ZQ<@=V:]A=J\CN5<7I78.P&2-QE*275TIN6V1CJQ^*562OEC?[,UZ@
M6X&RZ\<@FCF0*1T<Y<N%#8R;.4?4CVN_3?D+F6_R?TOY/O:]RUIMQXUO*]?M
MZ9CW(V?W-/$LPP<Q^K>C2RY=RW;46K<4TE&_/EN#[NQ:_P!'C11V\.Q?W/#Z
M*\BK6E*I/8K2.X5V0.3O:EIL-RSU3R*QL2FTRSP\;(;(H+&P:2VIK"7L2V(:
M`L"+%A;K$JC%2$H\+'9=QTV9VDX=I%,AY2BBB=Y_#5X^^D_C"UR_T:YPY8^;
M-<SL2Y.&%F3LZII^?;LKO;UESGC64[D+<7>[N]BJW*%N;5SCC&,O?&U.SGW?
M5<BTDI?)KZ:;7I4:X52E*K>MF].E9FG9]Y9W3FIV^]$[OV:NF^V<LSL='V'+
M)),6Y;#9]?664JJEJ4:QC5@P9/+9&1[62=((MVZ"#ITH1$F$2IYSHS\;/1K0
MNA'B2YAY`Y4B[?*<9V,O#MMS?<V,RQ;R%CJ4Y3G*./<G<L6YRG.<[=N,IR<W
M*E/YEF./EW+$76,9;/,FE)+:VW1-*M=M*]I"[YY\C-H\4._GR+WEI.`3L^W*
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MI)>BW1K8J2?I25"SQEVJ57N<*90T/;J["6>),KX,*FC)^,;2K`RF$CJIX4RU
M=DZ^$QB]?5G./2/EDUO2<K0=9R]"SJ+.PLJ[8N4K3CLSE;G2J3IQ1=*I/RI%
M*QDI14EN:J0+>XAS1YE=XOG//<"^%SVRI:,KEKL=&C:U`SN:]5KZRIKM>'O6
MZMQ62+7.W<:SPY156C&[LZS?#$S0J3166=D;G^B;PS=">AW@A\/N/XB>NMO%
M?4'*P[&7._>M=]D8DLF*NXFEZ;8N)26=PN,;\[:C/O5><[T,.S*Y&H</&Q,/
M%6HY;4Y22<%2M*^E'A3WS=*UV</8TE*4KBFWNC5X-4RO'G.>J(7K+'S#UQMH
M&7=5,LEU]#0MT5VTSF#,>G_YQF`PI_\`B1;&[[:#E]:R[%CI]F2Y?[RG?2UB
MW'(X/VWJJTZ5OC_N/6VO_*'/S_+A^PKB^KV?#P?K%`NV'R?Y9]H/N&0?;CY2
MRCHVF+U?X>AR%97D)6;I=8L.REDB4';NH)-XQ;JH56T6&4:EDO+0;-UD5W!W
M2*+YJ?"=QO%ETFZ->-7PTY'B@Z168?Z]:?IMW+A?4+=K*OV<%/US3M2MQFT\
MC'LV[CL<4YSC*%N-F<\>]'BZYUJQGXSU/%JKL?EK9M2W\6VBE&/I)UJX45'6
M/#7'WN+^$?A#^XG>/W]UH*`]C!^2_/WX?I7W'..=`^7>]R'^.3`8Z_UG5'&>
M/VC=7Z<53M;Z,9WRUR:IDR)Q]<J-"2GYMZ<ZITTRE;1L>J?Y1L8]'IS@:3\K
MES5><>JUWE'0;;O:WJG,$L3'MJK<[^3F.S:BDDWZ4YQ6Q/>4[;J[<5%-RX51
M+:WLW)=K?8B`93JQSR]X]Y<;)5=;)3HFF==J(60T;/OY=QJG1E3E'TW':_K\
M!1XA8B5FV1/,TGI3OE,(N9`K5XHN\21310Q]&^MZMX=_9>]&-+A9TIZASSJ:
M=CCLPMK4-5R+<+4\R]>R[B;L8-F3M-6EQ0LNY9C;L3G*=PJANQHN/!\"GFS6
MU[J[N+TN'9!;.&-*O8VJ\4ED,G_=%K*WA':]7YY0<Q8R-_$PBI_C@_K<(Y=>
M'KY+NP1V[[4_9-_'Z/-)&.#=/3Y?P#&G3O;1Z5=SX6]6Z=Y%C2W+T[EG6X7[
ML8^6-F>E8\)/^Y=^"_NCR>ORIZ-E5^K_`/@,MY[+&YN5_;T[I^.VMNFPRJU$
MM=AMNL[;K0UG//T6L79O5I?85&V=K9-Z3RXLEN*1'"OLI8XTG'3157R!W;1L
MDA<OQW<C='/$MX0_TI^1,:S'F'#QL?.Q\[N%9R[^++(MX>7@9SCMN/&K+A[Q
MWE8O8KACW(V;UV=SG4HXV5@K4;*49<2JZ4;JU"CV[TZ;?2V1I'8ZDM+NV?FS
M><?]'#97WC6&FKP9?VK.G_YT8/W5$CQ_OFU]NM_7Q,-/NG'\C;DA_294_)90
M!G)[8_\`KPY7_-1?TAF$RUO[^7VF/UTR5,-01*``(%WO9/\`*_XT_P!&U7\I
M]T'T2^QO_J4YJ_.E?P#%)[R_]FO_`%-OX[A.;UI_!QK_`/<35/O$P'S\\U_E
M1J7X?D?=IE/V_D1]Q'FA:NW[RFTEW(^:]6X80<A+\B>3E\Y`<9*&[A,HELE:
M5O/(R"MDA8ZVL\,C%QLNU84$Z&))ZLV9PR#E61562*T\>/JIYNZ<](N??"YR
M'J_73(MV.F7*>G:/KN7&[7N+ZQ-%NX\+%]1K<G;E/,4^XM1G<R9PABPA-WN%
MU8[%F]I./ZS+@QX0MREYUP4X:[U5M;MKW1HVFLPL![ISN2YUU>X[?YSUR+V_
M8O:YZRQ$?J"P[+BW-GE28D9$\ILR<VC3IR8=NYERM[4^/"F45SU6Z*&/DN,)
M-1]L?R/H6IQT/DKI]E7N2<7ALV+D]2LX-R-BV^""MX-K`R;5J,;48]W:64E%
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M\^>MI8B3(JLIT(L9I@JLG)%56:E<;DN<^H?A:]F7T_PN5-`TR65SQGV(RCCV
M%!ZGJ$8UA<S<_,G&EG'[RVXQ6V*N5AB8KA"\[4XE+$T6"A"/>9S2;;V-IO;Z
M5'PQ]'9%5VI56UR+U]R^Z7[CJU&EIO1O+JF[?O3!LHZ846Z:D>Z>93N43I&.
MP8V]MLW9K5K)N6_FX;X=M&[0R^$R*N$$SG62L-R-[93D?5^8+.!U`Y+SM$Y?
MN249Y>+J,=2E:JG2<\:6#@RE;C+AX^[N3N*'%*%NY*,;<^JU]<2XK3X.VDDW
MYJ)I)[?+)>7S%;.PWW4N0U?Y$/\`ME\X9BVSEH3DK+5-33^PC.7VPJ)?Z(VE
M'-DU#=)YTHN]FH9TQA71HEP\46<,WB'LA%U6SEHFUH/VB'A!Z9ZETRM^*WH!
M8PL?27:L9&HV</AAAY>'ERMQL:CBV8I1M78SNVUD0M1C"Y;GWSMPNVKTKT)J
M&'85F.=@T]5E\JCV*KV-)[5M]%Q^E=$HJDBO7O97\D3C/_2/<?DRN(MW[&[^
MNGFO\UX_P[&.-$^_W]IE]=`QF<9^V1RQ[Z]2K?)K<6]X_CSH?6M+JG'OCO"*
M5%SM5R>M:CK\;4YM2`K*%IURPCXIW8(Q960E'#PSQ_+F<IX0*V;(=,K.JOBN
MZ.>SVUG*Z4<D<NW>9NHFJYV1K.M75DQT^*OZC>GD6E>OO'S9SN1LSC&SCPM*
MU9QE:D[CNW;E?:UD6=%7J=N/>WDO3G\BO;%4]*M(OL=$W55DY4RRUKMD37;"
M[-_=`UM9MI,-KS>QZ!MRZ-YR#C9>O0C6L,-6,(&#:'K4G(2:4?8E7;5\L^61
M64*JBHV2RH?#<IAAMJOBOP/%EXX>DO-.E:1<T;`TO4M.Q7:NSMWKLK\\^=Z[
M+O[<+;G9496HVHRC%QDKL^&/>M$'<RGFZC9ORCP/CMQIQ<6Q7*UW1_;;OHD<
M;MI1?.#FUHF=[67%&92UIK.T;:NW(3D]M=V]EHN(-0+'3M3:UBZ;8I*'25?.
MXA9:G.U"P"'R[&X<D(ME-DR=*I[0/%3E]`>@O4+'\7?6*Q+5>:\31L71M!T^
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M%9=9105%UO\`"_X4^@/5+4?&#U.QH+D.S9QW:T*SCV[MG(UV[<NJ5ZUC-VK$
MU.U"W=AB3:L>L^LY5Z<+<(Q/++P,+"O>M74_5&U2W';6;JVMM$H)+BX:T>V.
MR*4)7$[+]TQVY6M835EUOR]J6Q]GQ<.XD66MI/3<C1X.>?-6B[@\+&W_`/"=
M:5DGCQ5,J+4[F%0144/C*ID2XR86SY5]LGR7JO-EC2N:.2LW2^4[U^,)YUO4
MX95VS"4E'O9X?J&.G&*;E<4,J4DEZ"F]AV^?VJ-V=E=M)[:=M*Q57Y$VJ^5%
M5?=;^9^V']^W+P,V?-6:8K52U^ZVEJN,LQG:SC6SFI6N#J%]HC3YQ7^<(F.D
MUK@R=HQOE8;LW#!WDOE*+F*K1_M<>A?)V/RYH?B)Y2L8EC5<W4HX&H7+'"HY
MT<G'NY.)ERX%P7)P6-=MRO\`%QW87K*?'&VG#PU?%LP<<W'X>[NO;1[&VJJ4
M:*GI*KDZ[71I5<F\MO?O[CUQX`<6*]'::EVD)O[D#8)6G4*=629O'E,J]?8-
M7M_O<5'/,*H.I:(3EHY@S.HDHDV=2J:YBFRD4AL,O9T^%[0_$AU>R<KGFS/(
MZ<<MXUO)S+2<HQRK]Z<HX>)<G&CC;N.W>O7%&493MX\K::4W)06GXGKF2K<J
M]RE6355L[(UIL<G[CX5)IIHCG\,_=W^3O<"U5`<M.1'*/.JE-VQS:ZU=U;*M
M8-[[4N-:?MF^*[<+>]EK_2R,T;)$IIN6'CDG[DT>9`ZA4LGPF79WUR]IETG\
M-W.&3T:Z9<H_/$=`NRQ;\<?(LZ3I^-?A)]]C8T;>'E.3L7'*%ZEBU!7E<C%S
MIQ.;W-7LXEUXV-97<P;6Q\"XJOB2CP[J]NRKJTJ4;XKG/[N#O[A%I>S\G=.\
MCH;>$7IEDG?+<U:4B3TSL"L0<"L1\_N53RE>KVPDE*@5'#];I(L':;=!15N5
M55,J1XOP_>U"Z<=?.>L3I/SORO?T#+UVX\3&E+*AJ>'?NWDX0QLBN)B3@LFK
MLQ_<;MN4YQA<<(2<X\V=9MY-U8]^TE:GZ._BJWL2<>%;'6E=OG5*M2+/=W>:
MNU.8G!V1:[MLDI=MD:$V.]U2O>YY]B2LERI^:[`V2G2MHD#D3>25ACVTLXBU
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M5.ATF"$?7%R+F3?JJ%6.3!"'+DQRZ?\`Q]^/#I%XB^E$.E7).G<R8O,.#S)9
MR;ES.Q\*UCNWC6<S'N*$\?4,FZYN=Z#@G9C%Q4G*46E%R'4=2L9V/"%I334U
M+:ENX9+L;V[3'X\_TL`GX]V/_5<;C)*Q_N='^;L_Z>D>C_)W^_\`^?)4G=(Y
MXPG;MXAW;?:S%C.WIV\94/4%5D52D9V+9MD;OE88DBD5TS=.(.!CXYW*R!$#
ME649L5$R9*<Y38U!^$?P\9_B:ZTX'3JW<N8_+\(2R]2R(*LK.#8E!77!\,HJ
M[>G.WCV7-.*NW8RDG&+3E./CW,J]&Q;V2D]KHVHI;VZ?`MR<FE55J0O.*';3
M[A'?1M$_RLY`;R>5363Z6=Q4;N'8[-W;#3+MH_48S5=TMJJ)E:]&-:U5%F64
M7/@<PD45UC"*!W#@COV?>KUB\5/AK]GUI.-T>Z;\OPS.;+=F-R>FX4HX_=1E
M!3M7M4U"Y;O7)7\A2XH5AE9#M^G<C;MRL]Y/IY6'I/\`HV+#CO)I3;V/=5.4
MN%\3]+8EL2;7HT2=QO(_W73E!H&EJ[:XM\DHK?MWH)T[:E46U#E-'[$PI`>=
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M@=6^NWAP]GSS;KD]#TF?,O7KF_5<_6-0[N=NQ=L6=0S+V78Q\G-E;O\`JN.G
M.,;&+:M7;ER-MYE^W#O;#NQEV_CZ7D3E!=[EW)MRVTX(MU45LE1[G3?+Y3:7
M`CJ/<#]W>WYP$TX^Y0:EY`,M\5G5JS"QWA6(HDGJ'85"9MI%KAG=:\S:WF^I
M2\?7WQDEW;A&09O&!,8<%2.FFJHE._#=[3+ISXC>>+?27G/ENYR[JNKQG8Q5
M<R[>I8>9*4)<6+>E+$Q';G>AQ0MPE9N6KS_<W.,I0C/O9UFUD75CW[5+5ST:
MUXE5[$FN%;'NKMVM55*M23/=Y.<>Q^9G">0BMRS4E:]H<>;L75DE>)J35EY^
M\U%:`C)RE6*S2#KJ_>V5%LY<QKMRX.NN^^;B.UEU'#A;PZM/:7^'_E?H9UZM
MYG(UBUA\I<S8'SA#%M6U;LXF2KT[659L0CZ$;#E&%^W""A"UWTK,+<;=N%91
MJ6/#%S)6X/T9)32I3A4G)45.Q-.FQ45%MI5YZAKL($`````PU>\"51_;>TER
MP;Q;=1T^A&NI;65`CAHV+[!6]XZUE)YPL=X=(BB;"NH.W&$R&PJJ=(I4\'/G
M"9\Y/9NZQC:-XS>3KN7)0Q\B>HX]7&4O3OZ5G6[,4HIM.=YVX<37#%2;DXQ3
MDHW3IPMYUJ=QT7%3WY)Q2]]M+X]AYBH^L(K8`#TD_=K[4RL/:HU=$-%D%5Z)
MLS=%5DR(FP91N]>7R1O":+K&#G\"YHVY-U,8S@O[4<F>GIZY^6WVINCY&F>,
M'5\V]&2MZAI6F9%MO=*$<2&*W'8JKCQIKM])25=E%16INNHWO,X_60,]@UUD
M"``````!9=W';PXUQP`YIW1B]^;I2$XN[Q-!O\HMG'LEA?:ZL$977'L[Q!RT
M<>7./6^?+53.F?[DQ<ESG`OKX7]`M<T>(_D30LBWWN'D<VZ5WL*RCQ689MFY
M>7%%QE&MJ,]L9*2WIIGI9A"Y>A:NJMN<XQ:\JDTFMFWM/)1'V8E?@`3U_=.(
M4Z'#GDC8\I)83E>3&84J^$<E64/`:MH;Y1)1QX,%521+92Y(3Q9R3*AL],>/
M&3?.O[9#/C<ZW\K:9Q/BL\J=[2NQ*]GY<$TJ[&^X:;HJT2JZ;*3UQ?Z<G_Y*
M/UTR50-0)*`````"#S[V]_"YPN_%QM[]\U+&_KV,?Y&<]_SIIOW#*)_H'V2_
M]3;^.9$&&ZPJ0R_]A'\[=P[_`'0[0_(7M`84>T5_L8\[_@V!_2V`2W5_Q?<]
MV/U\3U`!\F!1P````````````````````````````````````````````!YI
MW$KA5JSG]WB^0O'3<<_L"M4F8VIRNL[F4UG*UR&M1']6N]D?QZ*#ZTU6Y1!6
M:RQNBQ3,3',7[DY,^D?5%UFZ\<W^'#P0\M=3N1\;3<K7[&D<O6(V\ZW>NX[A
MD8MB$VX8^1C7.)+Y+5U)/>I;BI;F;=PM+Q;EI1;E&$76N[NV^QK;6*)(7]E'
M[=__`"R\T/\`G$T?_P!G4:N_^^'\3'_4?(O_`*%JO_;1!_/F7^UM_!+_`"A_
M91^W?_RR\T/^<31__9U#_OA_$Q_U'R+_`.A:K_VT/GS+_:V_@E_E$F*-8HQ<
M<PC&YE#H1S)JQ0.MDIEC(M$$VZ9E3$(F0RAB)XR;."EQG/JQCU#51E9$\O*N
M9=Q)7+MR4VENK)MNE6W2KV5;]TDJ5%0@K//]+`)^/=C_`-5QN/H/L?[G1_F[
M/^GI$]?Y._W_`/SYG6]Y'_-1;A_&#I3\I<"->_LM_P"V)HG\VZI_`;Q`Z9^,
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M9K'U-SX[9*W[BG,WA'PUU?&VWF02L6=.9^=<:\U8XI\!L&^[`D(<T8_DFM+J
MD]@C'"3%UAAES(/7#"+9KG:X<.DCG0P;3QX9.AG7SKES;=T;H>\O$E8[OUW4
M%DWL/$PX7.\A"65D6:SK./?=W9M0NY%R"O=W9G&-RDFM8D\N:MPAQNN^FQ5[
M6]R6SW72B3>PCI[$][A03EWC34W"15U`HNDO8)[8F[2,)>28Y:$RMAY4JUKF
M29PCHC\QBER2;D"'1)@V<%,?)4]G/+/L8;DL*%[G+GU0U&4'QV<+2W.W"?$Z
M<.1?S82NQ<*-UQ;+4FTJJ-93F&@WG!.=V,;G:E%R7O.L7N\WF\YBOYM=Y#N2
M=PCC!LFJVS2-3J'$Y_-5HU\M>J].;#=5UB2M7N!E:Q%6S;%IG;A#13SZ8/8)
M%8[<T69T[PU1(FGAT=!?+SH)X'O"WX:NK.E:QHVOYF;UCMV+_JF/J&I84;TW
M?Q+UN_<Q].Q[6-=N1]6CERBIK(5NWWTY2D[,;EN+Q<#"QLJ%+W%F06V-8JK<
M75\-');'5*NQ4VOME)^[3?FKM>_C7W+^^U0:C?:H_P!KW4_YGTS^#(DFI?C*
M_P#51^YP,"EHJT+<?>ID8>?8MI&/0Y/U6QD;.T$G*/SK3-)0]P@7.4ERG3\U
MC.P39=,W3Q$43*8O0V,9&Q72=7S]$]D%+.TVY.UDRY2R+#E%N+[O)U2[C7HU
M5'2=F[.#6YJ33V-D>G*/+M8MI\36SR.]1KW&JI^5.A/B'SH$C(5?O=:*19S@
M.XPF7"ZL5R8145QCY9TD'>ACHIFS\)4SN%,XQ\&3Y^,;W_8MSF]/ZC6FWW:O
M:&TNQ-QU=-^^HJON(J'0/E7O<A_CDG:@6J3B^VY2KLTRFA,QW"&N6IKE'S$T
MD9-IH=G+HY2ZG.JFFFZ3QX?E9-C&/7G/I&IWF/2,3+\4>?H-ZLL&[S]?QY5H
MV[<M6E;==B3;B]NRGF*63<<2JWJW^L1:_='*K"/-A<X+LX8MU+%7:=HJL1,B
M=%(SEI#W":VE*3S1!<Q,K))/WE(CCJ%*;!3Y;DR;&<E+TVY^V?UC/L<M<@:#
M:N26F96=JU^Y"KX97,:U@6[,FMS<(Y5Y)M57&Z4JZU1KZ]*R^VD_\0FY#0>4
M^=,SKC7N;DZV-FATS.P7L=#0[V]YJ\'FY.XBNJS*]?BW5G]A^>W$=!+6.1.S
M0.OE)J9^XRF4N5U?%/5S1S*M#ARPM1SO]6K=V[<CB=_=]6C<O*TKUR-CC[I3
MNJQ95V:AQ7%9M*;?=PH>U)/<FVO,W2K]^BK[B\A"\][B_A'X0_N)WC]_=:#>
MK[&#\E^?OP_2ON.<3_0/EWO<A_CDS+52B:.IM;K+*$222UW3U%55#E(FFF2M
M1QCJ*'-G!2$(7&<YSG.,8Q@:,^<(2GSEJD()N;U/)22VMMWYT27:V4[;^QQ^
MI7Q$;CDU[QSV_N)]UNU5XI:,2Y#W)9Q%H6V[:WS4=1:HM3^&<*1B37\)C:O6
M2PW4]>C3N,M7B$"\BU"*)D:/#I*J*);1^E'LP/$CUCT'`UCK#S`^6=#C&X\?
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MZ,'[JB08_P!\VOMUOZ^)AI]TX_D;<D/Z3*GY+*`,Y/;'_P!>'*_YJ+^D,PF6
MM_?R^TQ^NF2IAJ")0`!`N][)_E?\:?Z-JOY3[H/HE]C?_4IS5^=*_@&*3WE_
M[-?^IM_'<)S>M/X.-?\`[B:I]XF`^?GFO\J-2_#\C[M,I^W\B/N(@I]ERK0M
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MCS7L/46A%RXZ86)UR?KDYLY^B?P4ZCD\X>S4YJT/F"4LC3\+`YFPK49[>''>
M#+(4(M]D;F3<<'OBZ4IPJD\PO2T;)4ML8N;2>U*D(R5/)Z7I>[MWF27WLK^2
M)QG_`*1[C\F5Q&+?L;OZZ>:_S7C_``[&/'1/O]_:9?70,O\`V;:O#5'M><)X
MN"9-V#-[I&!M#A%L@DW(K,W1Y(W"P/3D2*4IW$A.SCA=4^?E***9,;.39SD8
M3^.+5L[6O%KS[EZA<E<OV]?O6(N3;:M8L88UF*KN4+5J$(K<DDE1)$OR92EE
M77)MOO9K;MV*327N)42\B5#M?=@_-I<Y?Z,VV/WJOQ)_!S_:IZ?_`)UZ?_"(
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M<X\9$)!W66"BA<9Z&,V)G/W.!O7]LWGYEODCD72X7)+`O:KJ%V<*^C*Y9Q\>
M%J37:X1OW5%]BG+RLJ+7_LECW+GQP)Q8T!$@(&?85SE'OC\J4DLY23-6N5Z)
MDT\^`ADB;MJ9R)&(7H7*93I%S@OJQDN,_!@?1%[1-*?L_P#D^<]LUE<O.KVN
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MHZRG:P]4M^;KL.1EIBJ0B*=0CI0ZLG\S1.&K`SA?'@.@1PEDETR]G5X5>@'.
M_+?,_-/,V?E=1,?4L6_@6\_4,+!LY.=:OQ6-ZKA0MV\BZWDSQU&QZSD.Y>5N
MWZ4;DK4_>UIF'CWK:O7_`/2E)22K&/%Z7H^B^*7938]KK2FY98_=+_Y,/*K\
M?-<_)]'##?VRG];/)_YNWOX9,@=;_&'_`",/KKA:-[V__"IPI_%]N7]\=#%Z
M/8Q?D?SY_.6F?<,LBM`^R7_J;?QS)I6M/X.-?_N)JGWB8#1/S7^5&I?A^1]V
MF4[;^1'W$0?WG^E@$_'NQ_ZKC<;]['^YT?YNS_IZ1/W^3O\`?_\`/ER'O<UP
MF6U>X+T!!?P5Z:F>0%PE&WK]IF:PQU'"P*_P>#V%C;I(OP^+VCX/#Z;7>Q>T
M3!NZEU!YDN1KJ=BQH^-;E^UM7YZC=O+S\<\:P_-P=M=G.A6HROW+SKQQ@HKR
M4DZOW_05/?)./`C7D'JCA'Q*U]7"I9BZUQVU`U*X1*0A9)^YHT)(S,R<J?1/
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MU396M;CKM[%L6VL=K?XQ_P"1A]=<)>HTK$J`````+5N<NHW6^N&G*;3<>7!I
M?8VA-IUB`ZIY6P2ROZ=+8K*N4<'3RJ5&?(V/DN#%R;!>F,X]8N_X?N=+73KK
MERCSQD_>6E\QZ??O;:5L0R;??JM'2MGC5:.E:T9VA<[J<;U.+@DI4W5X6G2N
MVE:>0\BD?:.7!``FG>Z9\C8O$5RCXF2CQHUEL2U?Y`TIF=T4KN7;.V##7NQC
M(M#$+DQ(7,36LY,0Q\FP\SU*7!.IM$GMDNF&6\SE'K+B0G/#[F]H^5)1]&W*
M,YYF%67EN]YG;&E3NU1MRHJ8UVU)7X7]O!*'#NV)Q;>_RRXMB_N6]O9,Q&C0
MD8`%CO.3N&<:^WE4M>7/D?.6&,BMF7DM&KS:IP6+--$41C',K,V9Y#)/6C\]
M5K39)$K]=J1TY35>MB)H*&5QC%__``_^&CJGXE]9U/0NE^/C7<S2M/\`6[TL
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M`'I>>[M:;<:B[6.E7TC#(PLUN*Q[$W)*I%2;$<R#>Q69S7:E,OE6W7#E:5U_
M4HA9$YS&5(T,BF;PY)Y9/E6]IISQ:YT\7FO8^+?E?P-#Q<+3+;K)QA*S8C>R
M+4%+Y*MYF1DQDDE%W%.2KQ<4J)U*XKN==E&3E!2HM^SA2BTJ[EQ*6[8VVUOJ
M9PQ@$00````!!Y][>_A<X7?BXV]^^:EC?U[&/\C.>_YTTW[AE$_T#[)?^IM_
M',B##=85(9?^PC^=NX=_NAVA^0O:`PH]HK_8QYW_``;`_I;`);J_XON>['Z^
M)Z@`^3`HX`````````````````````````````````````````````@'=F?_
M`$@C>'[L>:?[ZK&/HW\<W^[;Y?\`P+E?^#V2=:A^)\/W;?W&9/Q'SD$E```"
M"2\_TL`GX]V/_5<;CZ%K'^YT?YNS_IZ1/'^3O]__`,^9UO>1_P`U%N'\8.E/
MREP(U[^RW_MB:)_-NJ?P&\0.F?C&S]5+ZR8]VX_-1:>_&#NO\I<\'M2/[8FM
M_P`VZ7_`;(U/\8WOJH_60,Y\O_O3)_\`!SW_`!94:^L+[\M?;8_7(@'N?N$#
M_P!TV_E?\EOZ-J7Y3Z6/H<]LA_4IRK^=+_@&43[F#[-8^IN?';*2]^N>3N_>
MQJU'Y)O)6O\`':L_Y,=53DD9!<F$-$V3%=L&U+1$$(JMB.>(S]@LJ!E")D4,
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MS@82/_M77_I`_P#T:AGO_P#L[_\`W;_^O"8?_9W^_P#^?)X(^>,D9"O][M_W
MVX"?\'<G?\9T`-[GL6_O/J/]MT+ZW6"H=`WWO<A_CDIWC'6V5QX*\>JA)&,6
M.M7$S4U;?F(0BABLIS3T!&.C%34QE,YL(.C=,&QDN?A]`U#]6-4OZ'X@^9=:
MQ:/)P^<M1OPVM>E:U*]<CM6U;8K:MI3%N*ECQB]S@E]`A*=ECE!#]I?N'<AN
M+?+E=/7=9OCX^H+C>YM-U$0--O\`K&>FG5!MTTK)9:Y;ZWN$5-/BH2>43IX2
ME&#SQD8Y77QOL\=W27.\97AGY9ZN=%XO4]5TZVM2QL2TXW+V3AY]FU',QK2A
MQ5S<:Y:M.=CB3XK&18X99"MVW5&HVYY^':S;.UJ.V*K)^EPII46UP:HU1=KV
M4HY^9KW1R5,U\/<JH2C$:9?GN9K%$%J96)5_9C/#6++S$.5H5SCR\J96\&#_
M`">O7T#YQUR]K\M87+L<',?,#GP>J]S<]8XZ<7#W/#WG%P^EP\-:;:4*;XX\
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M4]J]%KR2?HOL2=7L(]_NR^@.WSN>M;I6WW3=,;4Y21=]:FIM`W"QK-L48:E9
M5Z`RUM5(H5L*\CI-T>ZR[U"1?I,W"S(R3`OC1RJ3S=E'M6NH_B3Y%U70K?3K
M.UW1^D=W3I>LYFFSOXZGJ,KU[BQ\K+Q^&=N/JMNU.S9E<A&ZI9#X;BA+@G.M
MW,B-]13FL9VZ;*J+<G*J;6R3:2]%UHMJ2JZR\]T[XXJ\*J!8MD;>N>K]&U)D
MS]O?J*DB(26L)VB+Y5G'0%9AV_TAND\X*@X*S8Q[5V\7-@Y4DS9P8:5^1.GG
M6#KQS'C<K<E8.K\P:S<N<$$G<NV[*DX*4[U^Z^YQ;*K!W+MZY;MQ3BYR6PD5
MJWQ7%9LJMV3V);W_`,"[7N2JWL(%6@N6</R\]XCU=R@@XI6!K&S^3T"PJ;"6
M<%*^^BD12$M64YY(XR1$C69F8"$:.E6A?'A!VOEN517!<*'^B?J-T:SNBWLS
M-7Z2ZA>61JVD\IWIY$[:]#UBYE/4,F,-KXK5J]=N6XW'3CMP5QQA5QC4678G
MC:#W5SY:<&_,Y78NFQM;*TJGMI4FP=VS\V;SC_HX;*^\:PT->#+^U9T__.C!
M^ZHD6/\`?-K[=;^OB8:?=./Y&W)#^DRI^2R@#.3VQ_\`7ARO^:B_I#,)EK?W
M\OM,?KIDJ8:@B4``0+O>R?Y7_&G^C:K^4^Z#Z)?8W_U*<U?G2OX!BD]Y?^S7
M_J;?QW"<WK3^#C7_`.XFJ?>)@/GYYK_*C4OP_(^[3*?M_(C[B(.G9`_/W<M/
M_3&_+5$#?[X^_P#=U<F__=K^B[A/\_\`$^)_R?W*1/!'SQDC(#OO*OYVGC1_
M1^T-^7S<P^B[V6']C3FK\Y-7_HC3">8GXDROJ;GW-$[^X?\`%*T_N<F_O8Z'
MSR:)^.<3\*M?=(DAE\E^X0C/=)OX<N8GXJ-:_OOG1OQ]LU_5_P`D?SQG?P:R
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MN$DHYY--S>SKLOPAV:/0PJD<RZ[60L^$<9R1,OA^BCFKE_3_``/>SAU#DW7;
MMC_73/TG*PKCA*35_6-<C=A.-J7I*7J5B<N&24(7+."YM*4G6H)PEIVCNW-)
M9%UT:VM5EL>[8FK:['P\2V5KMR_>]E?R1.,_](]Q^3*XC"GV-W]=/-?YKQ_A
MV,0FB??[^TR^N@9H.TG^;-X.?T<-:_>-$8*^,W^U9U`_.C.^ZLEV1]\W?MUS
MZ^1]7=@_-I<Y?Z,VV/WJOQX^#G^U3T__`#KT_P#A$#G&^^K7VZ'UZ,*ONFO\
MD3DQ_2/;_DRIPSP]LC_73RI^:\OX=DDPUO[_`%]IC]=,DW[:_@KV9^+ZY_O<
MDAJ@Y,_+#2OYRQ?N\"37/L<OJ7\1#*]T=_A'YO?N)T=]_=EC>=[9_P#)?D'\
M/U7[C@E1:_\`+L^Y/_$)NPT&D@(&789_/E<J/W/<L?RUU8?1%[1#_=^\H?A/
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M4Y4;]%_)KLV))4I14H6.]\CN=\7^/?#_`'9Q<JMYJ5XWYNW5T]J:#UA1Y1I)
M_0:JW2+1K,_8KJZ@DI",IC:*J,PJM%QSO*#N45PF5!/#?"SA"_\`[/\`\)W5
MKJ5ULT'JWK&GYNG].M!U>SJ-W/RK<H>MY&+<=^S9Q8W7"YE2N9-J,;]ZWQV[
M$>)W)=Z[=JY&:9C7,C(A.TOW&$TW+914]*F]5;HELJXU3:IOL_\`=*I$BO'K
MEQ$X,CE1EN:C2)RE4QE?!)2D.6R9E$NOB(B8T.;P&SCH8V#XQ]SD7K]LOBRA
MU+Y+S6I<-S0LN&[96WE1DZ/M?[HJKL5/*>^M_C'_`)&'UUPM9][@*;\*?"@W
MASX<T#<Q<&Z9\.3%L5!R8N,^K.2X-CKCX.N!=[V,37^J'/B[?G+3/N.816@?
M9+_U-OXYDS+2T]"6G3^K;%6Y:.GH&9U[3W\3,1+Q!_&R+)>`8&1<LWC8ZB#A
M%3'J,4V<?!ZQHSY[T[/TCG;5],U2S=Q]1L:EDPN6KD7"<)*].L91DDTUY&BG
M;;K;C3R(A+//]+`)^/=C_P!5QN-]=C_<Z/\`-V?]/2)^_P`G?[__`)\RA^])
M<9)_;?#366^:K!*S4EQFV-(N[0=JB[</8C6.T(UA"V>631:HK%,S9VRNUX[L
MY\%(@VP=8QRE3-UQ)]D;U7T[DSKEJW3O6,A6,7FO2X1L*3C&-S/P)SNV+;<F
MO2ECWLQ6TJN4Z046Y*D-I%]6<U1FVH7(N._9Q53BW5^9QCO=9)+>5M[$G=`T
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M=)%:'47B(265.T5*D8ZR%;4,KGQ&R8V]WQXYG+/AI\!^E>'O3+L)ZKJ5C`TN
MQ\I3NPP;EC-U+-X7Q45R[;BKD7)*,LZ*@J))3[4$L+3;6"J<<GZ7RFMGI2:;
M_NVJ)]C=%LV9._>ROY(G&?\`I'N/R97$8G^QN_KIYK_->/\`#L8A=$^_W]IE
M]=`S0=I/\V;P<_HX:U^\:(P5\9O]JSJ!^=&=]U9+LC[YN_;KGU\CN'<T_-S\
M\/Z('(S\DEL$D\*7]I[IY^>VB_TCCG;%^^K7VV'UR([WNC_\%W-C]WVE_P![
MVP!LR]L[^5W(7\W:G]VPR.UO\8_\C#ZZX3`1I/)4``````!Y57=VXJ/N'G<$
MY#:MPP.RI\[<'VU-7J8*B5LZUSLQVZLT&W981SC]HK3UR[A#Y,5/.5XM3."^
M')<Y^O\`\%O6#'ZV^&WEGFYW%<UO'PH:?GK;Q1S<&,;%URKVWXQMY2HW2%^*
MK6J58:1>5W!A'9Q6_0=*_2_)W[WP\+;6RK?N+&J,IR9EW/!7ES=^#7*;4W)2
MCX7>K42>P2U5HCM9JUNU`FDCQ-VJ#WP*D0/\[P+I7+0ZQ54FDBFV=^`QVY!9
M?Q!]%]`\0/2+6>EFO\-N&H8]<>^XJ4L7,M-7,7)C5-KN[T8]XHN,KEB5VSQ*
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M%CNN?.9.#4M0XE2Y;5R"]3Q)=J]6QVG.#^1D7<CRE5Z+C=UC=_+Y=VC_`+U?
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M5+A1`PS^\#GABAX8>C5K0=7C:EU$U><<S5KD&IJ-YPI:Q(3BW&=O#@W;4HMP
MG>E?NP;C<1--*P98=IRNT[^;5?,ENCY&U5MM=KI5I)F)09F$T*M:%TU<.1&Z
MM5:*H+19Y<-M7VL4*#*DU</$V;JR2S:-4EWR3;&5$XB#;+G>O5LY*FW9H*JJ
M&(0AC8HSJ)SSHG3/D/6.H7,<XPT31M.OY=VLE%RC8MRFK<'+8[EV25JU':YW
M)PA%.4DGXY-Y8V/.^Z/ABVDW2K[%7LJZ)>=GKPZAUE6=*ZIUKIZF-BLZEJRA
MU+7M:;$)A/RX2GP3&`C?&7!CYRL=HP*8YLF,8Q\YSG.<YSG/Q9<Z<UZKSWSA
MJO.VNS<]9U?4<C,OR;K6[DW9WITW;%*;25$DJ))+84%Z6^3;EVM[V^UOSO>R
MH@ID`````$'GWM[^%SA=^+C;W[YJ6-_7L8_R,Y[_`)TTW[AE$_T#[)?^IM_'
M,B##=85(9?\`L(_G;N'?[H=H?D+V@,*/:*_V,>=_P;`_I;`);J_XON>['Z^)
MZ@`^3`HX`````````````````````````````````````````````C$<`.RQ
MREXJ=T78W-K8=]T#,ZJM\_R$E(VOTRT[$D=@H-]L34M(UPCZ*G-5UVN)+,D'
MY,/<)RRI4SXSA+*V.F<[8O$AX[>D76#PDZ7T%Y9T[F.QSAA8^C6YWLK'PH8;
M>G6K<+SA<M:A>OM2<'W5<>+DJ<:@]BF&5EV[^!CXL%+O+7#6M*;+<HNFVN]]
MJ6PD[C4Z2\```(UKCLX\FU>]P7N3%O6B,:,QLIM<OHH:S[`_"Q\V(Z92UV9#
MYBQK#-/]OS-DRK@OS[Y?LORO'YG[4-IUOQP=*(>`A^%IZ?S#_M!^:I8WK'<8
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M=?>+TNZ]V;].]SJ$KUF4LY]/<AZ)%X@ZCMQE`$LC.5JA7[B4S1;[7,2<(O-P
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M\BKLRT:R]V/XTZRXS;KITE;<;EY2;'U7:JI2MP7^%/#Z_P!8VZ18IKU^7J-`
MC74ZO$Y9S;-`KB5<.9.4(U,K[+A#"AT#X:<U^U?ZJ<U]5M!UO%P_F/I'I>L8
M^1E:;AW>]S,_&A-J];R<R<;2N<5J4W#'A"QCNXH=\[CC&Y&57=5S+MV-RO#;
MC)-0B^%.CK24MK=5L?TKW\%2]3LC=OWDMVX-";6T=R"M>G[>QLFU\;,HK[4U
MLO-C08YFJI!UNT1DPTNNN*!F**12I,5VV6IG97!G"^3E1,3&5K$>/CQ(]*_%
M#U%T?G_IMAZWA9&+H_J.7#4<?$L.?=9%V_8N6Y8N;F=Y59%V$^\5MP4+?"YJ
M35OSU#(M963WUE-1<4G5)-M-[71NNSA5=^RG8BT[_,V\G?\`/:?YR3Z=:'_`
M;^%'Z;?17Z3[!_"O\U?@B^@/L_S'^"_Z(?.'SQ^V^#Y]\OV;Y7F>/]K%Y/TX
MND_Z!7Z+?S?S%_M`^:/5?6.XP_F_O/G'URO>^O\`K/!W7HU]4XN/9P\/I'IZ
MY;^:?4:2[[BK793[)Q^6N[S;_A)+`U7$N(]O?4[3G(KN<ON,3G0MTTK44]+-
M=Q(6G&WK%>8$[\^PEM8*0N8#%,US?L.BM<4IU[5[3EKDF5$O+\SQ'\O95[/C
MQC],?"?C\V6NHN#KV;+7IZ:\?YMLXEY06&L]7>^]9S</AXO6K?=\'>5I/BX:
M1XIIIF=:PG<=U2?%PTI3LXO*UY3-OH"A3&JM$:4U?87,:\G];ZDUO0IQY#+.
MG$.ZF*?3H:O2;F*</F<<]7C5WL<<R!UFZ"IDLER=,ALY+C`CJ/S%A<W]0]>Y
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MW?4>*-72U*FV<_/T.ZKW;[_R5]'?^VI7=M^1OV><D;]K;LH:`[;/M.P#3CC=
M?(V9C%(J0VS/0;6$852+>)>"1@M:5@KN54K;20)G*;QZL\=/WJ>,D\:*!S-A
MK`\7/CRZC^*7@Y;6/'0>F%BZKD-.LW979Y%R+K"[G7^&VK\H/TK5J-NW9M/;
MPW+D5=)-F9M_-FI7:*$?DQ6Y>=^65-E=FRM%&LJV]]\WM&<D>YK;..D]H:[:
M0J3/45=V/$61/;EDOD"Y>N;?)5!Y&G@R4W6M]2<H()0"V%\N#MC%,8G@*?&3
M9+<OV?GC0Z7>%'1N9].ZB8&OYM_6LK"N6'IUC$O1A'&ADQFKKR<[$<6W>CP<
M"FFE*KC15B-+S;6%*X[JDU-1I2G9Q5K5KRHSMIZR@)_3:.G-D0L);ZQ+ZU0U
MQ>J\^1-(5ZRPKRLDK=CB7*#I%`[N(EF9UDC%.0ACI'])2Y]&->D^:]1T[GB7
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MCP*.VE:IR?8WY49J!@B0(`$9SO?=F;E!W*M[ZAVAHN]Z%JD!0-2'H4PSVS:-
MA04PYF#7&PV'#F,;T_5U[9+1OL4LF7QJN$5?-*;'E^'&#9VK^`7QS=)?"OT\
MUKE+J#IW,69J.I:TLNU+3K&'=MQM^K6;/#<>3GXDE/BMR=(PE'A:?%6J4RTO
M,M85RY*ZI-34$J4^EXZUJU^V5/?)(-0B'-?J=7@7AT%7D)782(=*-C*';*.8
MV-;,USMSJI(JG0.JCG),F(0V2].I<9]`U=ZWFVM2UG+U&PI*QD95VY%2HI*,
MYRDE))M5H]M&U7<V2N*X8I/>D1R>W1V;>3O$3N:;PYG[)O6AYO5VR_P^?,4#
M1[/L&2OS3\*>PF-LK_SM%SVKZU7D/8XYJ8CSR95?RU\XPGYI>I\;/O$[XXND
M_6GPI:!T+Y6T_F+'YMTKYH[V]E6,.&'+U##GCWN[N6<^_>?%.2=KBQX<4:N?
M`_1)GDYEN]@6,6*EWEKAK6E/1@XNFVN]^1;"2P-5Q+B,EW=>R_RBY]<XM0\E
M].WS0=;HE`U=K2DS,3LNT;#A[:YE:9L[8%TE'$8PJ^K+E#K1Z\7:VZ;<ZK]%
M0S@BA3ID)@IS[7?!=XZNDGASZ`:WTJYWT[F/*YAU+5\[*M7,''PKN/&WDX&'
MBVU<GD9^-=4U<QYN:C9E%0<7&4I-QC,K&9:M:=>Q)*7>7%.CV4]*"BJ[:[]^
MQ["2O/,5I2#F8QN9,B\C$R+%`ZV3%1*L[9K-TS*F(10Y4RG4QDV<%-G&/5C/
MJ&J[3LB&)J%C+N)NW:O0FTM](R3=*M*M%LJU[I+)*J:\Q'7[&_9_Y+=L[8^^
MKAO>\:,MD9M*D5&M5]#4EEOT\^9OH">DI1XK,)7'6=";MVBK=X7"1D%7!S'Q
MG!BEQTSG9M[0#QL=*_%7ROR[HG3S3^8,/*TC/R;]YZC8P[,)0O6H6XJT\;.R
MVY)Q;DI1@DJ4;>PF>J9EK-G;E:4DH*:=:?3<-*4;_:NI(\.0BA#)J%*=,Y3$
M.0Y<&(<AL9*8IBFQG!BFQGIG&?1G`U?1E*,E*+:DG5-;TR6D6;GU[L;I[D%?
M[%MWBCL]IQULEI=24U8]8S]:<V754C8GV7+Q1]67,9(LIW7K60D5,9<-DT)5
MDE@^<M6Z!"80-MV\.?M8.=^FW+F-R7UBTF?,^EX<(6K&?9OQL:A"S#ABH7XW
M(2M9DH05(7)3Q[LJ)7KER4G<4RP]5R,.WW-%<M)>BFZ->1*5'Z*[$U55V.B2
M,9VMO=->7$I-G;[?Y-<<J-6\)(Y3EM;--F;5FS+&=H$<)GK]GJ.FF":23`RJ
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MSYGBQ@N;P>`3Q1<@>%?J%K?-G4'#UC,T[4M&6):CIUK&NW(W%DV;W%<63EXD
M5#AMM5C.4N)I<-*M>^G9-O$R7>N)N/=N.RE:MQ?:UY&9!.#>C;9QGX?\<>/]
M[D:[+7+4&IJC0[+)U%W)/ZR^EX"-39O',&\F8B!E7,:HJ3.4CN&397)?NDRY
M]`QM\0'4#1NJW6SFCJ1R]:RK.AZWK.3EV(9,80OPMWIN48W8VKEZW&:7RE"[
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M*5:T[>&E*-^1DBD:R"6$9_MG]FCD_P`-.X_NGF!L^]Z%GM:;&BMWL82#H5HV
M%*7EJKLK8<+;8(TK&6'5U7@$$VD=''([RC)KY37R7">%2YR?&U7Q5>.7I-UR
M\+VA=$^4].YBQ^:M+O:5.[=R[&';Q)+!P[N/=[N=G/R+S<IS3M\5B%8U<N!T
MBYCD9=N[I]C$BI=Y:X:MTIZ,'%TVUWOM2V&3_N7=LO27<RTXPU]LEX\I6P*4
MM*RFH=PPD:WEIW7TS,(-491!S#N'<<E9Z=/_`#<U^=(DSIIEW[*B=)RV7227
M3Q,\*OBMY]\*?.]SF7E:$,_EO/C;MZEIMV;MVLRU;<G;<;BC-V,FSQW/5\A6
M[G=]Y.,[5VW.=N4/B95W$NJ[;?H_3+LDO(_.NQ[T_*FTXGL][IWS6;VU5G5^
M1'%R8HF'<<1&R3S_`&S6[:HP50:&EG*M*CM96J&1=LG)UR-T,3YR.B)IG.JW
MRH8B6XW3O;'=![NC*_JW+/-UCF'@FW8LPTZ_CJ:<N[BLJ>=CW7&45!SEZFG;
M<I*,+BBI3GJUVUW596Y*]1[*IQKV>EL='LJ^'9Y'VY<N&GNQG%O1C>7L?)"Z
MN>3FPWT3.1<`T>5DE6U33CR\5(1*4P6E*S$V\N5@C2/?/;K23TK)%<A#D9E6
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M]*C::;\C33:I6C6./LS=C;EGV[.6<IO_`'+M+C_/U5[JFUZZ/`:KL.R)^;D%
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MVZJF^3I1[?I56JW?3)O;NWDO7ASPLX^<$M/1^D^.U/\`HY6479Y:?FY-P25N
M=ZLBZ2:+NT7:Q9;ME9F9722(F3!4T6C1`A$&J"#<A$BZ5NM_7;J3XA>=[O/G
M4W-]:U64%;LVK<7;QL2PFW''Q;-9*U:3;DZN5RY-RN7KERY*4W(;MV[?GWMZ
M3E<:I5TW+LHJ)+S)+:V][9C^[WW;?WAW*]%:@UCHJU:IJD_K_;*M\F7>V9RW
MP40YB%*?/5_#:,<4^C7MZM)8>RB9LD5;HI>5@V?,\6,%SDCX!/%%R!X5^H6M
M\V=0</6,S3M2T98EJ.G6L:[<C<639O<5Q9.7B14.&VU6,Y2XFEPTJU%:=DV\
M3)=ZXFX]VX[*5JW%]K7D9D$X-Z-MG&?A_P`<>/\`>Y&NRURU!J:HT.RR=1=R
M3^LOI>`C4V;QS!O)F(@95S&J*DSE([ADV5R7[I,N?0,;?$!U`T;JMULYHZD<
MO6LJSH>MZSDY=B&3&$+\+=Z;E&-V-JY>MQFE\I0NW(I[I,A+LE.].XODRN2D
MO<E)M?&<]S`U#9>0/%#DMHJFOH.,MVY-#[8U?6)&S.7[*N,)^]T:<K,0\GG<
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MO$@@``````(YWO%/;;DN7_&^/Y#:E@%9??7&2-F)16'BV:CJ:V%IM?Q25NJS
M%N@<JS^;J;A+,U%HE*LJJ4KYJ@F=P\3P-G?LR/%)B]$^J-SIISGDJSTZYKNV
M[:N7)*-K#U->AC9$VU2%K(B_5;\FXQBWCW;DXV[$B8:9EK#R:S^PSI&6Y4V[
M)-OLC5UVI4;>UI(\[$?365F`!DF[<_=(Y*=MF]OIK4LFWM.L[2\;.=BZ4M;E
MR:DV\[=,C<DLS,CA5S5+>@T3*DE*LB^:9,A$W";E`A4L8M>)WPC=+/%+R];P
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MIF?F8/`I\3A:[R/>8L9/BJ\2]83XG)UWG:P]3QFG8C?45]+P2<:5JUPM457O
M:I+:Z-5(.O-#1FBN/^YYBC\>>4E*Y7:\3RNXC[O4*[;8!Q#E.ODS:#L*DU#-
MJK.2:3)1,V7M>DI6/6S@WB,V5P9N3?YT*Z@]0NI'(MC7^I?*.?R=S,Z*>+DW
ML>\KFSTKME6KLLBU;<DUW698Q[T=E%=@U=E4^#D9&1:XLFT[<_@XNQOA?I1V
MI[&MS34I5=+21><C0```FQ>[)]LUY76CGN);FKGLTC.QDI5N,D--1I2O&4'(
M87B[CM]N1XEY[12P,_-AH9=/RS*QJK]7Y:#MN?.ACVKGBLL:G>AX9>1LKBQ<
M>[;R-=NVI^C.["ES&TU\+I)69<.3DPE51OQQH>C<LW(E*ZQG.]=]5M-]U!^E
M1[)2\FSLANVOY5:I.*9,=&D`DP``````$'GWM[^%SA=^+C;W[YJ6-_7L8_R,
MY[_G33?N&43_`$#[)?\`J;?QS(@PW6%2&7_L(_G;N'?[H=H?D+V@,*/:*_V,
M>=_P;`_I;`);J_XON>['Z^)Z@`^3`HX`````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````A-]\'L)61I8;MS(X/U!2=@9E9S9MP<>:K%Y/,P,DH51Q.7K5<
M-'(^*6A'ZA<N9&#0(9VU<**+,RJH'R@UWS^`/VBNEWM-P.AW7[-6/J-B,;&F
MZSD7*6KT%2-K$U"[-_N=V"]"SE3:MW(*,+[A<BKEZ<Z7J?J],7(?^C[HR_:>
M9_W'D?TFY^AMC#D&[\JH```````````"=!VR?>5-)V:O4K17-FNPVA[)"Q\-
M4ZSMZD06&NE)1JS)'0L.TL=5@VIE]4*$(;&,K-D%:ZW02.HH>.0(4@^?7Q7>
MRPY]TK4L_J%T%R;_`#%I=^Y=R+^FY5WBU2W*3G=N2LY%V5-03>Z,YQS9SDHQ
MCE7).12.1HN1CJMC]TLKR;));>S=*B27H[6W101*]J=OJ=]KT5;J-9Z_<JI.
M-4WT+9JK,QU@@)=DKCQ).XV8B7#N/?-U,9]!TE#%S\8T[:SHFL\NZG>T7F#$
MR<'6,>;A=L9%J=F];DM\9V[D8SA)>223)2FI*J=4=B$L.0````"#S[V]_"YP
MN_%QM[]\U+&_KV,?Y&<]_P`Z:;]PRB?Z!]DO_4V_CF1!ANL*D,O_`&$?SMW#
MO]T.T/R%[0&%'M%?[&/._P"#8']+8!+=7_%]SW8_7Q/4`'R8%'``````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````81NX5V'.''.]W-;`CF;KCQOV4]H=
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MCOV)47$W3;\E+>J[JXBM@\.N6NJ%7R6S>,/("A8C5'";QQ;-/[`@F*?LI'"J
MRQ)&0KZ#!PTP@U45*LFH=$Z1,J%-DF/$,TN6^M_1GG&%N?*G-G+>HNZDXQQ]
M2P[LWQ-))PA><U*LHQ<914E)J+2EL(]:C@-*3O6E5+?))[?*FTT_,U4MO%T2
M,*G4#2FY=K]?P6ZDV;LKH[-'Y^@%"M5QZ/R%:'.RS]'8J1Z.R$D$,Y3^[QA=
M//3Y9>M)\Q\^\C<G?E=K6DZ5Z''_`*9EX^-Z#XDI_NUR'HMPGZ6[T9;?1=/"
M[E8MF:MWKEN$VJTE))T\M&]QD\T!V%NZ#R`<QYVW'.4T_77Z2:REKW[*--7M
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M\M7LI6KC15CP#9B3P`"0/[NA6N6&P^<]8J^F-O[0UKHFCE6VIR-8UF8?%HUB
MKD:9DTBJG-U]^RE::]L&Q)ULRC"J+(HRJ<.D_<,ER'9YR76W[3K5>CG+/A]R
M]6YZT32-5ZA:@UI^BSOVH>MV;\^.5S(M7H2MY,;.%:E=OM1E+'>3+'MW[<HW
MZ.2:VL96%*<8O)DTHO<TE6K=&FXI-[-L5)Q;BST>!\OI2X````!%;]XF[;W-
M#G7L7C%/<5M-?A3BM>4K8T1<'7X1-4TCYGD)Z=K#R);^1L:]5!S(>UMHY8WC
M:D7(GX.AS%SDN,[?/9E>*+H5X>^6.;-/ZOZY\T9FIY^%<QH^I:AE=Y"S:OQN
M.N%B9,8<,IQ5+C@W6L4TG2;Z/E6,6=UWY<*DH4V-[N.NY/RHCB?V>KO`?]$3
M_P`OO&#_`,]0V@?]Y7X)_P#WU_\`9&O?]ED\^=M/_P`Y_P`67[!D?[1G9E[E
M'&'N)\;-Z[RXW_0?55`F;XZMMI_#!H6R_-+>9U1?*U&J?,=0VE8+&_\`:9N:
M;(=&S-8Q/-\9\%3*<Q<7O&AXYO"SU9\,O-/3WI_S1\X<WZE8Q(X^/\VZO8[Q
MVM0Q+\UWN3@6;$.&U:G+]TN13X>%5DTG`ZEJ&)D8<[5J=;C<:*DENDF]ZIN1
M/`'SR%-`````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
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M^+ZN@^?7VB?B%_V\>(',Q-&O][R'RSQZ;@<+K;NSA/\`TW+C1N+]8R(N,)KY
M>/9QV4OFY/KF3*^OL>Z/U*W=BWMN6W:JT[#-H,"B%```````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````A>;$[<&C^Y5W[NX[J_>EJVM5("@:TTM?8=YJ:<J,%,.9@VI
M]`U[+:3<7"C7MDM&^Q2RAO`DW15\TI<^9X<9+G>KRSXH>?\`PK^SJZ7\V]/L
M/1\S4=2U75,2['4;63=MQM_.&KWN*VL;+Q)*?%;BJRG*/"VN&M&IU#4+V%A8
M\;2BU-76ZI_2S5*4:_;.OO%ZG]E'[=__`"R\T/\`G$T?_P!G46(_[X?Q,?\`
M4?(O_H6J_P#;1Q\^9?[6W\$O\HNVV_VN>`NI^VS"<&]V\B[WJ'BY6-FHW-MM
MG9&W=,4"V9MTO9IVSLH1]>[;KZ-UWY#V2F'":#8L0FZ413*4IS&*8YK,<E>+
M?Q&<Y>*6_P"(#D+EC3M:ZN9>DO&EIV%IVIYF/ZM;L6K$KL,3'S)YM8PM0<YO
M(=N,I-N*324#')O7,]9D(IY+E512;3?`X[JU^35[^RNXRXV78>K=/5"!E]@[
M'I-!J"CFN5*$L]]M]=JL-*2\L5)A6XAK-3;V,BWTU/*$P1JW2-YKI3/1(F<^
M@88:5RUS=SMK>3A<MZ7GZCK:C>R+MC$QKV1=MV[=9W[DK5J-RY"U957<G)<-
MM;9R6\@U1*BW4^@E5OWDFWYDV<0?D)H-/9^-(J;PU`3=&6Q'F-1'V72R[/RT
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MU"W=]*W:A<<E=G*?[FXQE["NVK%J_P`%RK5USJG2*BXJ-=E$J)NKVNKVT22D
M5C6.0AB[[M?<&7[>/&`U^IM<:WC>NS;1'ZMT)1WC62?LI>]S2*RZDO*Q\1CY
MRDHFL1B"CG+-`Z2LB\,V9%51RY\Y/+;P9^&RWXF.K2Y<US*GI_3W2<2>?J^5
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M=UV\5F;O5$3DR$5C3W*I1LHYGZP2035*9#+YNAA4IL9+UQG`F^I\D<Z:)R_@
M\VZSI&J8G*NJ.:P\V]BW[6)ENVVIK&R)VXV;[@TU/NISX6FG0.,DE)I\,JT?
MEHZ.GEH]C\C/ULS<&I-*U]2V[DVEKK4M52RF56S;,N]9H=?2,J\91Z15)FTR
M<5'$RI(2;9`N,J8ZK.$R8^4<N,\<J<D\Y\]ZDM&Y'TC5-9UB5:6,'%OY=YTC
M.;I:Q[=R;I"W.;]'9&$Y;HMI&,IS5N";F]R6UNFUT1P6I^1/'[?2$@ZT9O33
MFZ&T2J=O*N-3[-I6Q4(Q=(C111&06I\W,)LE4TWZ!C%4R7.,+IYSZ#EZS#G+
MIEU(Z=7+5GJ#R]KFA7;T4[<=1P<K"=Q-R2<%DVK3DFX32<:JL9?M73F<)VI]
MW=3C.E:-4=/+1]GG.SRFT=90=WA]9S>Q:)#['L,#*VJ`U_*6ZOQ]WG*O!9-B
M<LD/5'<@C/2<##9+G#MXBW.W;],^8<HE.)RCS7J&@7^:L#3-0O\`*^-DV\>]
MF6\:]/%M7[WV*Q<R(P=FW>N_^+MRFIS^EBSKV5[%3Z-6OAHZ>X_(RB,OS6XD
M)T+8EZB>5G&MW`ZX\^*MMD0WAK!U7J?9EE"QT5!VN52M!HZ"EGLTX1:I-7:B
M*RKA4B12Y.;&,U]A=!^L\N8M,Y>S.3^:8:CJE+F/8>E9\;V382X[EW'MO'X[
MUN-I2N2N6XRC&$7-M139SP7&U"$6[DH\453:U1M-+M3H]JV;#&)V*NX.KRZX
MWJGY`\C]=7;EA;ML;5GE]8+7.D1>PF-(C?F?YIQ7=31S]K-1%(AXY,WD&088
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M6B0^Q[#`RMJ@-?RENK\?=YRKP638G+)#U1W((STG`PV2YP[>(MSMV_3/F'*/
M7$Y1YKU#0+_-6!IFH7^5\;)MX][,MXUZ>+:OWOL5BYD1@[-N]=_\7;E-3G]+
M%CLKV*GT:M?#1T]Q^1G7]9[^T1NES8&>G-UZDVR\J;U6-M+76>QZ=?'-:D4%
M"I+L+`A5IF55AGJ*IL%.DYPFH4V<8SCJ)ES7TXZA\B6L:_SQH.M:-8S+:GCR
MSL+)Q(WX-54[+R+5M78M;5*'$FMJ9RTXT4MCE%27GB]S7E3['N9M<@MBV;4>
MC=M[/I6O['M>Y4/7MKM%2UI48F4G;+?+-$0SMW`U2(B85L\EWSJ;E4TD/`V2
M46\)\Y*7.<=!WZ;<L:5SIU`T7E/7M2Q='T/4=3Q\?(SLFY;M6,2Q<NQC>R+E
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M7D7#AN[69))-X3P^V.0O"CX2X>+;FCE_3.8NJ?,VN/`T"SGQA<LXMK&G>4\N
M%M\5RW)7L3(E<O05N]2&+:MW;,+\IW>EN*Q\7UFY"W.Y<GPP4Z-<,=LI\-=O
MI4AV.+VUI*CM>Y7]OJY]A^H4CG)P-Y);\FM54#9E29<C]#;:LT#-P%\J5TG(
M2NG>HH5"I4NJ*'>N46D6K[;%J/4#N6[IL]1.U*DI=KH[XD]"]H=K6H>'_P`1
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M6GTW;O8\[D/##CG5N2>S-T<&.<LRXU+`ZRW!(JV>=UE<&,K`5*O*US$6W80$
M`X;6W8<!@[^*CXUG(1SET@]9>)FS=H^VMZYR7X_?"[SUU/U?E;2M"\073^Q'
M4;V=IL%8M9V-.W>R+RO]XYWKT98^%F4M9%Z_<LWX6KEB_2_?LS/_`$_&O7>Z
MA'(MR4JP]'B4F^+B3K5I)RK6K>Q=JE+6&F<E8```````````````````````
M````````````````````````````````````````````````````````````
M``````````````````````````````````````````````````0O-B;#[AVN
M>_=W'9/MS:(U3OS9;_6FEF-[KVV9B,AH>%HN-3Z!<%F8Q>4W+I9)62S/I-4/
M`5\[-Y2IL^1TQYA-ZO+/+/AGYG]G5TOQ?$]S#K'+G*MO5=4GB7M.MW+MR[E_
M.&KKNKBMZ9JC4.Y=R=7:MKBBEWGTKG4+>!/"QWFSE"25WAIVKC7%7T9;O1IN
MWO?V7J?Y4?O1_P#_`(W^%_\`\>:C_P!O06(_V1^R/_\`U1YZ_P#1,G__`!$X
M[C1/\]<^!_Y!4KWE)657[42R\\V093BVW=(JS+-L8IVS254^=CR+9N8KAV4R
M"#S)R$SA57&2XQ\LWKS2OLLH8=OQB1MZ=.5S3XZ+JJM2E\J5M=VH2EZ,=KC1
MOT8[?I5N('3*_../7?Q2^YS-_P!X@G)6L=JRMV6"=F83=>W+QUG(=^1-!8S*
M5B5'C^/=E1<I+-E3-G;<A\%4(<ALEZ&+G'7`\_9G:?AZMXO\K2M0@KF!DZ'K
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M$]&249AJHUP1Y\\1ZI$U7"1F;C$=C!&NVGKI@>-C&Q]&SO`?E\O+P]VM"QU@
M8VG0TB5YJ*7%.;UBS<A<XE)NWZM>BY1A-7[;R:RNSF4L^,5+2TGIJA6/"HO=
M7BXE+TW/BK5)-[J^GQ$F#M5\*^.NB[#R2M?#7F;";_X3;N;QC")X[0<Q].X_
M35O:LDVTL\1V>PV?,K%D)YF[D$G39:!BY1=H:/PX=+FCDUE]5/B_Z[]3NH.F
M\K:/UQY%R.6^O6@2N3N:U=M>J3U/&E)RMQ>!/`M+@LRC9E;G'+OV(7%DNW9M
MK)E"W)\J]._PQOQIDQ3XVTHREQ4X>)*,6N&*HJ[UM,2O#+M>\%[!WH.?>@I?
M1WM>I>,E;TE>-'U/\)>X$/H3:'\)KBPNY/Y];;`1LMD\V8DUUO(EWC]N7Q^#
M">"%*7&9?7/Q:^(+3?`MTXZC87,'!SES9E:IBZKD>HZ:_6K$+N;9C;[J6&[%
MBENW"/%C6K,W2KDY-MQN7G94\.S&4JQO0O*>Q;4I**[-FQM;*?"3+QHV)41@
MN\TA!RW=?['\+>U,YI>-U2SIF@[PH2.5M2NSM-&B&^3E,EA8S^P1T.BLF8QB
M&)DA3ER0V<&VS>!FYJ&%X.NOV?R\O_7OS#;C)QHYK'6#J?>2IMIP69Y,HR23
M3XG%II-1^+*\L+*[JM>&TMU?1<I*?_%K5]BV["3Z-3)`%O?+>)JL]Q5Y+PUZ
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M:R,BJT-E9T9"M>A76?Q;:]T>T#IEX).0K^A:=I_>PU'6N#`RXZKGJ$;MZ[=S
M=3P<73L>:I-=S=N9-Z%NYC8L+RX+*N1&+=S:1MZ?%K>I248OBEMEZ4W&B44Z
M03::3VN548=]I;.[3^LN:W`BX]GN6VS2=D,N35%KNR'B*VW2ZVF->6&TUROO
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M#AFIW`Y;6YU>0U+F]]03K8Z5PO15,4&#BV:KR&3I_P!*,:_R<T:10F'!HK+G
MJ;KYG7&,C,;VH'5OJQK77->&[#U1+IIGV-(NQPGC8E/7+MR2C=>3W'KE.-Q?
M`LC@V4X:;#WUC*NRR;MFXZV+4TXJBV?N:;VTJ_E2WM[_`#(QH\;MY=H;F#8]
MF<N.\QR+N%YY$[+N<ZUJ^B#07*-O0M)ZIB7SM.DU:#GM$TM`D@DDB[5502;R
MJ39-+)5'#8S]9XLME5U1Z?\`C4Z)Z7I71CP-<L8.G],M*P;4K^K=[H$LO5-0
MN0B\K(NV=6RFX-N,8RE/'E.4JQMW5CV[%N$Q>/JF-2Q@Q2LQ2K)<%;DFEQ2:
MDVUMV)=B6]KA2K1J[D_VX>&7<,XE6GM,;_NT_IOD-L:)T7RHXS2,9R!0J+**
MNDY#P%*V5`OMWU.+<RDG7)2;.M@JC]](M\-/*04(W?.RYH7FWI-XH>N?AHYS
MTCQE<MX&-SQRUI=S5M`UV%S1WDSN8MJY>RL&]#2LBY&W"_;M*-8VK5F?><=R
M,KF/9:ALC&U"[9N3S8QXH1XU/T$Z1WP?"JN+BY2CNI);6TU2_+O!:MF-^=W?
MMU<=V=PL-+K._-*[0UCM-]5G"+*:F=//I:>L&SJ@VD%$5E(]*WU.NN(]95/H
M?R7!BY\1#'(;';P3<W873KP6=3NIE_"QL_5>7->P,_3X9"<K5K4H6[5G`R90
M32F\;(O0O1C*JXH)[)*,E+\=)6,B\E^ZVW8E%[?1EQ7(\6Q[6E)M)UBWO36P
MSB\0.W'PWX&O+U(<5]0XUH_V5'U>-NKQ>\;$O#F8;U!6<7A_+6V%;+4I#X\Z
MQ.3+D89:HN3>7E0ALHI>'`+K7XG^N'B(L:?C=7M:^=<?2KE^>+%8N%B1M/)5
MI7:K#Q\=7=EF"@[O>2@N/ADN.=>,C*OY3B[\N)QK38EOI7<EOHB]\6!(<H?R
M,Y&Z=XH:@MV\][7*.I&NZ8R,YD))X;"CV2?*%/B-KM=C"&]KGK-..">2R8MR
MF675SZ,8+@QBU_TPZ8<[]8N=<+I]T]P;NH<S9USAA".R,(*G'>O7'Z-FQ:7I
M7;LVHPCYVD^T8SN35NVG*Y)T26]O]6UM[$JMM)-F%;ME:MW'S+Y@;'[QG(>F
M2VKH*WT)SI?A=I^P-,-+%`:02EW!_P`(5G071*[0D+$C[3EB<IBH/23#]TB4
M[)6/5-G=XK>;N1^AO1/2_!#TSSK.KZAA:C'5.9]2LRXK-[57;BO4[#3X7"R^
M#O4TYVGC8]J;C?ADP7O>DK=I8<'&<5/C<DZIS<:4A3Z6,71M[92JZ12H_E[=
MA<+=[CO/N5>JCA)#CPV35.8QCD;FJQ"Y1+DV<]$\%:IXQCU8P3&,>C`]O$T^
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MPTZAX:,',QM1\0//2Q[_`#)/'N*[9TK"M2<K.GJ<'1Y$H\=N49)MV[^1>X5:
MNXDY1=RN-9EBMQE<N<+G1IJ'!)N,-C^7Q;9M[$J12?RB2P-5Q"``````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M```!&]X;_P"D;=U7^C]I3]XO&X;1>N'^["Z/_G)JG\+ULB\G[UQ/J;WU\22$
M-71"$>[WF[\UY/?CQU#_`(W-C93[*+^UKC?F_J7UMHC--_&5CZJ7W.9USWC[
M\T>T_&?H;_%Y(3/V7O\`;/G_`#3J_P`<#KI?XPQ_=E]SF9]FOTB_!<W^AYH@
MEM^@*7T6/84';J`)8OHZ7YD-.-F#R/?N(@LGY67*:#A!8Z/BP10ALX-C7->^
M;/\`6Z7SVK[T;YQ?K"LN,;SL]]^Z]U*<9PC<X.+@<H3BI4<HR54X)5[OT?E4
MV?`18X#NB=M[D-6[)J[OD\=M4Z<YCZJL]NI=VB9;C7LJPLD&:B^$(I2@VJIM
M-M;+K/GUQ5H5<RDNFW=+-4WS)8R!VF4]N^H^$GQ1=--4Q>;O9_\`,VL:YT/U
MC$QLK%N6]<P;,W)*MQ9F/D2T[!OTOJXX)8TIVXW)8]^"N1O<4X]0R>-W--<G
MBS2:E&?"W3926V#K%UV4V;OE52ZIV<Z'H69[L6Z]J]L>L;:KW;UK>@EJ/?K!
M;G=R3H]HW!)2T5+0\+6$]A2#NZR:#-GDCIHE+8S*Q^$72BN$6[QMAQ./&]S%
MU$P?!SH/)_BOR]&R?$KE<QK+P[.-'&>78TV%NY;NW;[PX1Q;;E*MNY+':Q[S
ME9C#O+EB[W3/>1ZM"&<T\SO7)+T>)6^%JC<51)R2:VNM%VQ:CW6M<Q./G`CO
MY=QV<Y975YJ*L;KUWHEAKNUR=/N<U`3+K%%U4H0QW59@)IPSC#*-W2)I%1(L
M:@NQ<)K.$S)9QF0ZKT1ZE>(OV='2_`Z-X$-:U;0=3U:>;CPR<6U>M1];U!;(
MW[UI2N4=N2LQD[\X7;4H6I*:/.6->R<*Q.PN-6E>XJ--IN49)4WMM*M$F]JV
M;42T!IK)<89^]9P(V)S/X^4F[\=\H-.67%:^--Q:%=^=%1TA+NFBT<YLE,C9
MJ6;J-8V2ESPD?(Q^%CI,UY>'9I.3IHG,LEG+X#_$5RST+ZE9^@=3.*?1OG#3
MI:;J\:7)PMQDIQL9,[5MJ4X6U=O6;W"I788V3?G:C*<5"<7AWXV;K5ZKQ;D7
M&:5?DM;]C6U>7:U%R455EJVA?>+.+S_7KZA<W%K[PEY6U&&5KM[@+OI+:-J@
MVUV3BVI4I^*KM2K<S:HYJZ7>%>YB)IK&K(E(9#SU"92<*W?ZB^S'ZM8_,MOF
M+H''3N?>CV;?5[$O8NJ8&/=EBNY*MFY>R+]K'G**B[7K.+<OQDVKG=QEQVX>
MCTO,E][\%VVTZ3C*-'1M;FUM5-J54MW$W4P/<C>^OR.V[I7:?`&3W/I3<</M
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M-(T<Y*U*FED/U>Y*\4G4?HITVO\`@:U.Y:Z26N5,:U?QM'U/&TC*AG14)7[F
M1?E?P7-N25N[;AD.['*CE2O6D[SE..C;S<C'L2P)/NHVE&2C+AI<^GXE6-6V
MTU6O;)4XJRZAW%.Y!Q=Y([6X+Z_X9Z;6IW$/CGR[TS*V?>;#4Y-2ZNEK1'NX
M@U8I5.CL14"G`1-9I'SLOAO,-XMZH5(YD&9&C?VA>=>&3PN]6^EO)_4'F3KE
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M2,YC'CYM(DRQ6_:,E+XL[C?:8](>JN/UBM>*KEO`MYG27!P-&G\XV<K&E"%Z
M%]1L\5I7?6';NW;EA0OV[5RR^]M_NB;H3+5,6[.]=RDJXEUQI)---.W%5V-T
M54Z-T3V;=J+5^#.RNW=V[E=B<$.[YQ"TI7MP:HO%GDZ+R(V!Q*KNY6NVM9V"
M3?OH"6<3K"A7N^2+)5VBMB'=I(.V/L"A&BAVR[%9/-W_`!`\K>)GQ-0TSQ#>
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MV12^7*6ZJ24FTBH/.;_2`NT7^+#?'[R]K"FO#]_NW^M/\[:1_"M//#'^]<OW
M+'W21(T&L,A2C?(7>=&XSZ0VCOW93I=K1]3TZ8N,_EHGA9\Z;QB&3-HN-1,8
MI5Y69?G2:-4\YQ@[A<A<YQUZBN.FG3_F#JKS]I'3GE6$9Z_K.=;QK/$Z0B[C
M]*Y-]ENU!2N7'MI",G38$I2:C%5FVDEY6W1+;LVMTV["%?HSN'<).<6]W?+#
MO`\I(^*@:';7RW&;@+#:MWW<M2ZT9MS($9W+84G3=5S%<V'/.4DL9QA=PX.\
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M*MN=.*E:5DIJKJTDI4JVTBEG=,[HFD.YQI^O=N#MT+6?D3L[D]>Z`PL]G1HF
MQ*-3M>56FWBOW0[^=^FU/@[(ND2;@63AXZ1CSQ\?%(.5U7'FE205J_PB>$GG
M[PH<[9/BA\3L<3ECE/E/3LR=BP\O"R\G-R,G$O8O!9]5R;MA-VKUV%JW*\KU
M[(G:MPM\#G<A%8^-=TZZLS,]"U"M%5-S;32C%)[^UM^3R<3C*HU/KR'U'JS6
MFJ*\1!*`UCK^FZ\@TVS5-BV3AZ778VMQA&[)'.46:!&4:3!$B?)3+T+CT8&H
M'G+F7-YTYOU7G'4W)ZEJVI9.9=<I.<G<RKT[]QN3VR?%-UD]K>U[R4+BIZ;<
MI]K>]OM;\[,"7O$'_%3MP_\`_1+3GWMGAL5]F=^..J'_`/S+4OK[1%8OR<C\
M#N_XI(4L=AAJE7IZUV)^A%5^LPTI89V4=&\+:-AH5BO)2;]P;&,Y*@S9-CJ'
MS\!2Y&M32]-SM9U/'T?3+<KVI9=^W9M6X_*G=NS4+<(^>4Y**\[(1M13D]R1
M!FL/<^XH=S#E#:)SN)<GW^A>`>HK6@KI3AW6J'NR?D-]NXET[/$[!W59=8:]
ML*)&RY,)KKQJCTAVV3$9M$D?+=2+_P"@73/"9UB\*G27$T_PR\I6^8O$=K6&
MUJG,M_+TNS#2(W(Q[S#TNQGYEEN2=81OJTU-*5^].?%:Q<:>/3<JS:AZO;?K
M4HUE/BBG#BWP@N+9*FQW-]&^%^EZ$B+3W>X[0TU+ZQT3IKD9%-7DY+4[5>KZ
M)!Z!Y#5F&3?S#^/JM.K$7[7IR*K\$P,[=-VR1EE6[1N3.,G.1,N38UF\[^`C
MQJ8&%JW4+GGEB].QCV<G4,_+NZQHU^ZX6X3R,F_<X=3N7KL^&,YR48SN3>R,
M92:3@IZ9FV;;G*%+<4V]L=B6U]IF0&#Q`@``````````````````````````
M````````````````````````````````````````````````````````````
M``````````````````````````````````````````````!3>&TWJ&N;'M>X
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M5,[1E*$E.#:FMS6QK938_<;7N&WLC3NH]R5'&O\`;VK-<[4H973!\6D[(I%9
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MQ:H()E(1-),I"E+C&,8QC`I#5]9UCF#4;NKZ]EY.=JU^;E<OY%V=Z]<E)MN4
M[ER4ISDVVVY2;;;;VGDDDJ)412_;G&3C;R`=PC_?''O1^['U:;O6E<>;<U/0
MMD.X!I(J-UI!K".+E`3*T4W?K-4CK$0RF54R9,FQG)<=*MY+ZK]4NF]F_C]/
M.9=?T''RI1E?CIVH9>#&]*":A*['&O6E<E!2DHN:;BI-*E6>MN[=M-NU*46]
M]&U6FZM/)5_"5OQC!<8*7&"E+C&"EQC&,8QC'3&,8QZ,8Q@4"VVZO>>9J.`4
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M_P`0'TLPKAO^U^+VOKX/D^KT"7/JOU2?*7^H#YEU_P#U$I3YM^<,OU"E>*GJ
M??>KTKMIW=*[=YUJ^#N__%\7%3LXMU:;J^?>=IKVGM25*]W+:-4U;KFL[-V*
MFP1V#L6O4BLPM[O244DFA%I7*W1L8VL%G3C4$2$;E>N%\(D)C!.F,8$HU+G;
MG/6>7L'E'6-7U3+Y4TQS>'A7LJ_=Q,1W&W<>-C3N2LV'-MN;M0AQ-MRJV'*3
M2BVW&-:+R5=73R5>U^5G6=M<:>.6_%8I;>N@-)[I6@2K$@U=M:JHNQE88CGP
M^T%BE+C`S)HXKCP8\>$<DP?ICKU$VY-ZJ=3^G,+UOI[S)KV@PR&G=6G:AEX2
MN\/R>\6->M<=.SBK3L.;<YVI<=IN,Z4JG1T\E5V'T6SCKQ]OFOH[4MYT5INY
MZKB';"0B=9VS6-)L6OHM_%H+-8Q['4R8A'E<9.XYJX43042;%.BF<Q29Q@V<
M9\M'ZG=2>7>9+O.7+_,.N8/-]Z$X7,['S\JSF7(7&I7(SR;=V-^49R2E.,IM
M2:3:;2.+;=IJ5KT9+<ULIV;*;MC:.9E]+Z=L%[I>T9[4^M)O9FMV+R+UYL67
MHE7DKW0HR0;.F;^.I=N>12U@JS%\S>K)+(L7"":J:QRFQDIS8S`X7/7.^F\O
M9W*.G:SJN/RIJER-S-PK>7D0Q,N<)1E">5C1N*SD3A*,91E=A-QE&+332"DX
MQ<8MJ,J578Z;57RT>U>0J6*5."AS?C%QK:;;-OYIQZT<UWN=RZ>GW6WU-0D=
MMF>/8-:L/79MD)P!;B9R[K;A2/54R]\2C$YD#9REG),W`N]6.J=[DQ=.+W,O
M,$^GBA&/S7+4<MZ=PPNJ_&/J3O>K<,;Z5Z*[JBNI7%2:3/3O;JM]RI2[K]K5
MTWUW;M^WW=IV':>D-+;SAD*[NS4.K]PU]LX3=MH+:=`JFP89N[2-XDG2$7;8
MF79).$S>DIRDP;&?5D2SE'G_`)[Z?YTM3Y"UO5]$U*<7&5W`S,C#NN+WQ=S'
MN6YM/M3=&=(MPFKD&U<6YK8U79L>_<?;K/46J-+5M&FZ<UAKS4U0;J+JMZKK
M.E5NB5M!5RZ=/W*J,'5HV*C$E'#Y\LL<Q4L9.JL<^>ICFSGPYJYTYQY[U26N
M<[ZMJ>LZU))/(SLJ_EWVHQC"*=W(G<N-*$(Q2<MD8QBMB224I3FYS;<WO;VM
M]FU^X?B=T[J.T;`J.V;-JS7-BVIK]J_8T+9<[2*S+[`I#*50=MI1G4;E(1CB
MQUIK)-GZZ;A-DY1(L190I\9P<V,]M/YWYTTGEO-Y-TK5]4Q>4-2G">7@VLJ_
M;P\J5MQE;EDXT+BLWY0E"#@[L).+C%Q:<50I22<4VHRI5>6FU5\M'M7D*C"E
MS@Z7L/6^N]N4^7UYM>A4O9U`L'S?\_T?8=6@[I3YOYIE&4Y%_.]9LC&2A9+Y
MMFHUL\;^<@?R73=-4G10A38GO+7-',W)>MV.9>3M1S])YCQN/N<O#R+N+DVN
M\MRM7.[OV)PNPX[4YVY\,EQ6YRA*L9-/M"<[<N.VW&:[4Z/X2V/_`#;_`&[_
M`/H%\+__`)KFC_\`Y#"['Z47B8__`%%YZ_\`I_5?_G9[>N9?^=N?X4OV3N%!
MX0\+M56Z&O\`J_B'Q?UO?*ZHZ6K]VH.@=44^W02SUBZBWJL-9*]4XZ9C%'<8
M^6;JF06)E1!8Z9NI#FQF2<Q]?>NW.&BW^6^;>=>;=4Y>RE%7L7,UC4,G&NJ,
MXW(J[8O9$[5Q1G",XJ472<8R6U)KK/(R+D>"Y<G*#[')M>7<V5[N%+IVPZU,
M4R_U.M7FGV%@ZBY^J7""B[-6IR,?-U6CV.F(*::O8N38/&JQTE45DCIJ)G,4
MV,XSG`MUHFNZWRUJMC7>7,S*T_6\:Y&Y9R,:[<L7[5R#4HSMW;4HW+<XR2E&
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MQ<MN[9FTN*U<XH2HJQ=#E2E&O"VJII^=/>GY4^U;F=LLE;KMRKL_4+?`0MJJ
M=JA92MVBKV2+8SE=LE=G&*\7-P$_"2B#J-F(68C72K=TU<)*(.$%#)J%,0V<
M9D^EZIJ>AZGC:UHN3?P]9P[]N_8OV+D[5ZQ>M35RU>LW;;C.W=MSC&=NY"49
MPG%2BTTF$W%J46U)/8RTG_-O]N__`*!?"_\`^:YH_P#^0PO-^E%XF/\`]1>>
MO_I_5?\`YV>_KF7_`)VY_A2_9.6@>W[P,JLY#6>L<).(M<LM<EHZ>KUA@>-N
MFH><@9R'>(R$3,PTM'TQN_BY:+?MTUVSE!1-9!9,IR&*8N,X@]1\2/B)U?3[
M^DZMS[SIE:5E69V;UF]K>IW+5ZU<BX7+5VW/*E"Y;N0DX3A-.,XMQDFFT<2R
MLF47&5RXXM4:<G1KX2[H66/`````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````#K)T54#3J.G
M&SF@ZAQL4'4.-B@ZAQL4'4.-B@ZAQL4'4.-B@ZAQL4'4.-B@ZAQL4'4.-B@Z
MAQL4'4.-B@ZAQL4'4.-B@ZAQL4'4.-B@ZCGC=*@U'H<`````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````!ID=)[O?"-!Y'(`````````````````````````
M``<]GO@_0]S@````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M``````````````````````````````````````````````````-,CI/=[X1H
M/(Y,1_-[O`:1X+[@::;V%0[S99UW4XJW$D*Z9IA@5E+.'S=%`V%TCG\],S$V
M3>GIZ<"Y_*/2_5>;]+>JX=ZU;M*XX4E6M4D_URV_-?4K2^4]36EY=FY<NNVI
MUBTE1U\WF+._[2;Q6_Y(MK__`'<=_P"YQ5'^P7F#_I6/]']DIG_;CH7_`$:]
M_A+]@^EK[R3Q-54*5UJO;35+.<>)0B4>XR7'PYPGA-+.>GZ(XET&YB2]')QV
M_?1VCUPT!NDL>^E[J?ZQ<?J[OR=OS8SYI&2-VL^NGSM0B93WBNG81J9CYQC'
MFR#=RXP7Y6?]8)#J/1KG/!@[ENU;OQ7^;E5_!1?&3O3^K_)^;-6[ER[8D^V<
M:1^%-_$9;*-L"D;-KK"VZ^M4'<:U)I%593,!(-Y%DL0V.N,>8@<V4E.GK(?!
M3X^'`MEFX&9IU]XV=;G:OQWQDJ,N/AYV'J%A9.%<A=L2W2BZH[@(0B@`````
M`-M94J"*JY^O@1245-T]?A3)DYNGU>F!VC%RDHK>V<2?"G)[DC!+;?>#^%]-
MMEII\I6]MGDZE99ZKR1VU:;';GD*]*NXAZ=N?+TN3H&<LS9)GIZ2]!>3&Z(\
MTY6-;RK=S&[NY;C-5GMI))KL\C+1Y/6;EC%R+F-<AD=Y;FXND52L71]I??P<
M[@^E^?43L28TY&VZ.;:TD*[&SQ;7&IQRBJ]F0F7#`S(J:RWFD*2$6\><].F<
ME^,4;SAR/JO)<[$-3E;D\A2<>!U^0XIU_P`)%7<I\Z:7SA"_/3(W(JPX<7$J
M?+XJ4_P64TYH]UOCMP9V'!:UVW$7R0G9^`S8F:M7AT9!D5CA9)'PJJJ.4<E6
M\:N/1T$?RITVUOF_`GJ&FRLQLPGPOBE1U^`@.:.HFB\IYL<'48W7>E#B]%55
M&4MXW=[7BER@W-3='T""V6TMEW=*M(EQ.0+=I&)JHDP<V7+@CM0R9<XS\61,
M=>Z2<Q<OZ5=U;,G8>/957PRJ_>5"`T/JIR_K^I6]+PX7E?NRHG)41F,%JRYH
M'/9[X-PI?%U]/3H/<X/UY?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?
MTOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y
M?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM
M@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!Y?U?TOM@!DG3&<]?5]3[8`
MVP``````````````````````````````````````````````````````````
M```````````````````````````````````````````````````````````&
MF1TGN]\(T'D<D&3WBS^7E"?B0I7WTL0S!Z'?D;+\*G\43$KK7^6$?P6'QR,/
M7'C1ENY+;GH>C*&]A(ZW;#D7D7"/;(X=M(1NX8Q$A,K&D'#!E(NTD\M8U3!?
M`BIG)\XQTZ9SG%T-:U?%T'2[VKYBG+&L13DHI.33:CL3:6]KM1;71M*R=<U.
MSI.&X+)O2:BY-J-4F]K2;W+R,R]6'W=GGS#,%G<7,:'M*Z1#'Q'1MWL[)XXR
M7&<X30-*T9HSRH?..F/&JF7KZ\X]8ME9ZX<EW9J,XY=M/ME;@TO\&XW]`N1>
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M9,7"A2*X*;&,YZ&QG`P9S,6]@Y5S#OJEZW-Q:\Z=#-?$RK6;BV\NPZV;D%)>
MXU4[*(8B`````#XI+_>Y_P#[B=?^P*#TL_98_5(Z7/L<O<?Q'EO[^_AZWE^.
M7:?[^IX;#]&_$^)^"VON<3`#5_QME?A%SZ]DI?W8G_B'R]_=;I_[U[%&//B"
M^^=,^UW_`([1D!T&^]]3^JL?%>++/>0OY76L/Q4G^^#,55T)_)>_^$?K,I7K
M=^4UG[0BQWLW?G&N.W_#C[_%TQ5W5'\A\[[64OTS_++"^VH]$L8-&:@'/9[X
M-Y/X?[G^J/<X/,]IVK^WW89'NA77?/:"[GW,/DC"\_>?"FO^67$FA;VD]):Y
MQ$W62?T9A-W77V^:74(*RZYLQUIB14<5F24:-'3=5;#I/)42@9GZO:-B\R]<
M>[X=NC8/*2Q7WC_RPXH;=W%RSV1K:^;$@[MR7::`UK`K5W3;K9F5*IL=G%-)
M]^NA;".RMI205C#%<Y372,50#)C'=H[2G;HU;SQNW$S9FY]=\<+WP>V[5<<+
M9.^V;8NE:[L)A4+S,R.WX"7VC.7:^15AE&+K#7+5H_;-\G6=*N#.L*-DF0$:
M/M1\>NTO:M8\$)6^]AGNZ["Y!39M*+S7,:IZEY*J<7938[JQP^$-X-KA#<K(
M:DDU%%2YDY-T^2KJ;!*.;JJ99&(7*9@)&WO4OYCCEY_P]QN_ZSFH`!Q._P#G
MYW2S<QN2'#+@9IGA9:FO'SA]H7D6VV%R:F]S01(U:VI3YK'3WL/K:0>&V#-W
M!K!90KR2:M5:Q2S=99^^=$.1(@&QQ@[UNS]V2?:=VU?:!JC7W%#N/:EWY5[+
M8FV;!)6;5/,31DK9/_X/Q=LW(U<+KJ\PU(F"1S1Y!8DTW;7.%7Q3%,AD"Q+<
MOO+FXM8\5]1;T>UKC!KN1YP<D^3L5PSMNZ:;RA8ZIU[PVT')(5>!W5R(AM51
MFSMPW^[["N*Z+9I'U:&AD?9WA%S)IHHJJ9`^U#WF3;-J[<)>2.N]8<=IG<-1
MY@UKA]N;?+Y#DG_D*ZY:VVG.++6>4TE7FVOT^4<5IJP2:C6+)"2<8RFF[TYT
MO:5ULM4G0%%>X[W(>>?)WL&<P]HQUOX7P%HU'R(TYK+;>^^#W)6P7BD;-T98
M;M2VR<OH-"JW%[MS2^PI+9L_7XJ;KVRDHXTA1'$HX12.9ZS3(!E%GN>'=NGM
MJZV[>?&73W`JP<X=;<4ZIR-Y=;FVE/[]C^&E296ZS/JYK[76I:]7\I[MG+79
MXAFF[,YDUD6C8Y5<9P8F#'3`I'<N^QRIN^C>&\CQEX[Z07Y4[9[BM[[;7([2
M>V;7;'-&U[NS7D#)*6%U5MDU1]%/V%5;N58R<R^<Q$NO\R+*MB,U7>"*Y`R:
M<\L[X-V2><V>3Y=3%Y`_YNCECC;&-$XMQ=/9MQ=#;$*^-KO%^56N?T8.3!,M
M\R><.\XSG*A2Y^3@""1J;5?#:]:!X/Z1[?O;UYT<6>]UM;7W'C8&C.9&V+W:
M=#:4V#/0#BG/M\;RU.^V/RAE8;8^LK-4B3KMJG6:0H9:,7,L@S(W16;Y`D`=
MS/WF&^\,N7FVN-6K#<1T&W$J'J[3;T/R3BN52FT^4]\FJ7#W21J?&&4X_:UN
M6I]4FA47Y(Y20V&\;,W4H[P8B:+-L=98#N^LN5M:W/WZ*ES0UA7G,[6K][ML
MTY`5"GS=CK=(=O6\CR*S=&52FK=;GT33ZDZ(M_M%W)23EO&L3E.NNH5`AC8`
MZ/Q,[_W-_D'R\AN%,HY[65RV[R:X_;[N?&LO&_8V^=H5/CGNZBZRV%L'7NL.
M7VT(%S9M;;,:KJ4P[2;=:RDU4BH-%7K1?*3V.(J!C^XA;LY&2?9![=&QN6=3
MT1R@HE][PV@8C0<WL6Y<GY?=+%_+;^WVSONSMRV6O;9UW\^[,JFP&;C%1+A_
M+5Y2$,F68C7BY<%(!G`V;W8>X]M>Y<Y-F]O/CEQ/V'Q$[:VRMI:BW^3D#==M
MUCD!OR_:0KR%CVU#<=R4^,5H=23JJ'FI-UK&F^Q*]4E$"XRH5'('6GW>+Y\\
MIN8&E.//;3TOQ.FZKR%[55'[@56EN7DIMJHR^M9^W;)D*>\CKO+:GE;.RML/
M"F390^(*.C(]5S+O<N_G])DAE-0"W^]>\,\P6G;_`.">^8S1O&?26X^2VYMW
M:$WQNWD,KNR7X1<;+_HFY%I1L75/2_TLVU!,]R2F<DAC.'CAC!*IK9>/WC1N
MJ]P!GP[6W+O9W-?B37=R[BAM#Q^PV]LME%GYSC'N:F[NT1L!2J.FR+;8FMIV
MK6ZXS50@+6U=D6Q6+2NWMD"J4[>2;D/@AU`,B@`TSZL_H9_4`&P`````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````TR.D]WOA&@\
MCD@R>\6?R\H3\2%*^^EB&8/0[\C9?A4_BB8E=:_RPC^"P^.19=VCOSCG%K]V
M-A_>#;!5?4K\A]1^U1^Z0*7Z=?EMI_VV7UDCT;!@F]YFZ1[_`'C&ETB3X>5F
MZRS5B2ZUK8T(RJL@9-(L@=O+*%1EF*:O3"JB!D"XSDG7.,=>HOAT+R\N',US
M$@WZI<L2<UV57R7[M2R_6W%Q9\N6\N:7K<+R47VT?RO>H0A%?]B4_P#R9_\`
MUN1EJC%5;STJ.VHVFVG!#C"WL15RRY-8QV7!7/CPOA)1](*,_'X_E>ED=/)?
MUO08&=0969\Y:A*Q3N_6'N]Q5^C4SDY"C>CR?@1OU[WN-M?JI4^A0OC%&E7`
M````'Q27^]S_`/W$Z_\`8%!Z6?LL?JD=+GV.7N/XCRW]_?P];R_'+M/]_4\-
MA^C?B?$_!;7W.)@!J_XVROPBY]>R4O[L3_Q#Y>_NMT_]Z]BC'GQ!??.F?:[_
M`,=HR`Z#?>^I_56/BO%EGO(7\KK6'XJ3_?!F*JZ$_DO?_"/UF4KUN_*:S]H1
M8[V;OSC7';_AQ]_BZ8J[JC^0^=]K*7Z9_EEA?;4>B6,&C-0#GL]\&\G\/]S_
M`%1[G!&OJ/9=[ENCISD@RXF][MQQUU%R*Y&[QY'R6K6G;DT7LIW7;/O*Q*R\
MXV:['ONV)"Y.'#"-3:,R.6RD>GXFN'"+=LH<V`!<Q)=C+05=XD</./?'_:NR
MN/\`N/@,YM%AXK<N:U'4^>VM2[OL5:1>;9EK1`2D.A4;K6-LOY==2>@U46S9
MR0J)"*)X1+G('T:([3.[Z[-<DMM<N.X[NOF/R-Y!\:;3Q7;W1_KNLZ)TCKS7
M,\VGO8'41QCU=924B:L4/)SJCG#IT^*8QU7.4<-E7:RV0+;N//:*[O?&+66J
M='ZH[^GS#I;3T'`5&GT#_-8\8I3V*EP!DR-Z[]*K)LJ?MCGQLRF2]K=.W3O'
MB\63F-@`9-^ZGP*_SF?!S;W#'\*WX$_PJO\`6S[\)'T&_"1\P_@]V=4-C^5]
M#_IC0OG3YW^BGL?B^=6_L_M'G=%/!Y1P%)X%?0[F7R>Y<?A6^<?\I#C+I7CG
M^#_Z#>R?0W\#Z5S3^F/TK^F+KZ1?2+Z7=?F_YM8^R>S_`/ME;S/D`8YE_=_H
M%[V;-0=J=SRBE6EYT+L"<VGJ7E]7M3&@+'3+Y,[DV)LD\W#ZX;[57D&!OHCL
MZ4K*_LUL05707.YPHGXO9\`7$\@>SE5+SIW@96^,V_;;Q!Y!=M>KDJ?%'D?5
MJ%4=H/*]#2&LV&K[G#WC7%]6-"7Z`O41%H+R+5R]245<%/XEC$77*J!N9[6W
M(M#BG$ZOCNZWS13Y;,=OSF^Y'F!,3CBT5^>O]CC5XR4HDEQ1L%I?:<-Q;025
M*=AK+"GS+'+)X405*<QS&`M-B?=UZU-\1.X9I+>'+:Q[:Y&=QX^I7VXN3$+H
MR@::J4#+<>;(WM.C%:EQIUI.1=)C8RMRC)+,TW1E4%9W!ENB[+*N,D`JK?\`
MLZ\I)2Q:DY(:B[I^Q=*=PBL<?T>-&\>5D5Q?TY::!R-UA'VZ2ML"2S<6IB9;
MT&H6BLJO$FS"3CI,RR2+<IS8.L;*@`[W7>R;KR@U/@'5Z!N^TMW/#7F58.;>
MR;G>:BRN5WY0[;O$=94]@25JE8VR4^/I,G99>Q^<FZ09R:;-HT1:X;*>'S@!
MDXY;Z'_RIN*W)7C-]*OH+_E#Z$V[I#Z;?,?TG^B'X5*#/T;Z3_1OYXKWT@^8
M?GSVKV+V]E[5Y7E^>CXO,*!C1WCV9:WN7MZ<,>'S+?LYKK?G`:!T0MQHYEU.
MAIELM&V;I*MP%5/>":R6NQ6S^OW:)ASX?5YQ/JM\*&;J&<*J-$C9`Z%NCLT;
MZM6_-H;XXV=SO=O#&0Y:U'7<+SSKVF=45&03WA;=>5&/I3/96B[):;6^LW$F
MYR$,DYP9[#.)MZB=9(R;C!DCY7`[?O[LH4WD+R;V;O"U\B-@(4?9W:KE^UY*
MTE>'<6?9Q(64NV;=^'"0WM;;C-.K/<<I8*BZ:2=?<J2#KQNG#XYE#I9`HKQ+
M[%>W>.^^N`F^]B]Q2P;XD."%'VQIZL:Y-Q/TSIO6$II386M'>NH6FU*&UC,Q
MT_3K/`E6;O9.R34I<)"=48-T\E:%PIE4#J&M_=\KIKSBQK7AIGGO*V?0V@>?
MFJ>9W'*MS/&BK-I+5E-UW>MC[`G=(R%CA=GQL[L&2OTYL#S7%JDW'1@JTS[+
M$$16\A,"IN\NQKL"T[/Y3/.+W<7W-P]XU\]+=:+US4XTTK3&H+VEL>TWN!:5
MW8,SJC:]F;L[=HY_L)HDX6FUD$)E1ZY>J_*(W\MN0"Z[2/:IH7'GG[0N9&K;
MZG7]<:P[;=5[<U'X[)4?Q8B*Q3ML1&RH?82FS\W#Q/'.&402.5C#5_!U53F=
MF?9-G*.0+5:SV3]WZEXN4C2_'#N7[=T'MJA;CY&;*:[*KNI8:XZ/OU6Y)7M_
M;K+KW=?#W86Q++JG;7T8CWYVD/+R#LKIDY,HY33*10S4`7P]LCMRP/;DU3L^
MK&VK*[QVMOS<EEY`;XVP\HM2U/#W':=MCXF/FG]1U'0"%IFMJT<L251*-9&7
MR1593)UU,>#!`,DX`TSZL_H9_4`&P```````````````````````````````
M````````````````````````````````````````````````````````````
M```````````````````````````TR.D]WOA&@\CD@R>\6?R\H3\2%*^^EB&8
M/0[\C9?A4_BB8E=:_P`L(_@L/CD8P>#F]:SQGY7::WK<8^3E:SKN=E925CX;
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MW_91GA$9'":AB$?1E<CG#-1!$^,>(OGJJ^+'IZ?`,A.7^@ZE:C?YCR91N-5=
MNU39YG)IU]Y(L)K_`%P<+LK/+^/&5M.G>7:[?.HIJGOU,<SKW@;N)KOS.D+3
MKADTR?Q8C4=<5I5N4O7KY>%W,>L]R7IZ.N5,F^J*ZCT6Y&4.&5J\Y>7O9U^!
M.GT"B9=8N=)3XHWK:C7=W5NGPN-?HEVVAO>3=P0\JP8<B-05&XUXZR2<A.T+
MVNNV-LB;/A4<D9+N'<2ZREC/BRF5`F3].F,X%,ZST'TJ]:E/1,FY:OTV1N4E
M'W*[)>_4J/2.N.J6KJAK&/:NV*JLH5C+W>V/GI0D]<<>6>D.7VK%=D:2MK:P
MQ)V3A.4C%?"VGJ^]RV/D\?-QF3F69N$S>CT]2Y^#(Q]USEC5^5]36#JUIPGQ
M*CWQDJ[XOM1?O1.8]*YETYYVEW%.WP[4]DHNFZ2[#S<M_?P];R_'+M/]_4\,
M[]&_$^)^"VON<3!W5_QME?A%SZ]DI?W8G_B'R]_=;I_[U[%&//B"^^=,^UW_
M`([1D!T&^]]3^JL?%>++/>0OY76L/Q4G^^#,55T)_)>_^$?K,I7K=^4UG[0B
MQWLW?G&N.W_#C[_%TQ5W5'\A\[[64OTS_++"^VH]$L8-&:@'/9[X-A\G(JQT
M@E$.F3&649.4XM[),%Y6.9R)T%"LG3^+:R4,YDF3=SDIU4$WC4ZQ,9(59+.<
M'+[G!B`U'N#N3V/FKR!XV77?7!V0IO&'7/$_<5MF:MP;WU6K/L^L<A)_?[:>
MI%<<2W<9M\5K.=@8K02J;.<<M+.W.XF2*J19B,LHO`.P]NCNM:BY>\<M!6[9
M]E947>U[XUQN]=BQI=1;OUEI-8\)6H28VZKIS9^T8!77NRH+5[V;31FTH&UV
M-S7SY\F1426(?&`*U->Z5P?5K6S[?*;5ME+K^H=7FW?<7FSM`<C=3K.=+%EF
M4'^%^A1VS-2U.3VUJXTI)M4BV"J(S42;VI$V%\D53,8#MD?W%.'[ZO[AL;O:
M,O5F^AY.AQ.R8;8>I-TZQN[-QM>97K>H7=4UUL37=7O^S(3<ME:JQE,D:Q&3
M$?;Y)%1I#K/7"9TR@5ET+R2T_P`EH"QV#4D_//LTNT+TJ]56\:\V1IW9NO[:
MA%QD\2O;"U%N.HT+:=!E9"N3C"49)3$.R,_B7[5\V\UHY064`Q#<4^XCM?DM
MMR3I,CW"NU?K6[,>67)+33?A0]T[9)WEL_H6@>1>S]:1[)%\OW(*U+8ONP=6
MZZ)/HR!=;G9,RR!718UVT2P54#($EW)^';VU6>EPVQ[38)^O.-I1,4>`TAON
M:K&T[;I2`M%DVKKKCY?8O5[NB<E-I42/I,P22JVOI&S6)L\BW30S+VINJB4"
MA>A>[]QEV?Q>XX\BMA(;+UG*\A-89VRGJZ(T3R-VE::#36SC#:<NMN;4/3<I
M+P^EZ^[4*AG8TBPC:/(XQ[0TD3MSD,`*VWON:\(-;V>0JEHW9DSZ#HE#VK:9
MFL:UV]?*+1M2[-BW\S1]O;%V71*#9-=ZYU%.1L8NIBU3LI'U]ODGA7>)',4N
M0.T7+N!<2*#MLNE+1M1RSN*-RIVN9V88ZXVM/:EHNQMB,H>0U]KK:._:_1I3
M1.IM@7QK8XO,+!V:QQ,I*FEF!&J"IWS0JP'<X+F#QTLM?BK3";$]M@9OD;:^
M)46^^B5Z;>U<@J/?+7K*T:_]E=UE!XC\UWBD2C'YU43)"+^R^<B\4;J(JJ`6
MQ:][ENH(;1&D[]R,G74%L;:E1M%WD:EIO36\MN%K5-J]OF*U);$M4!JNJ;:G
M]9ZKBLL4R/;/9%6,`V<Y.51Z3IDA0*RVON$\0:7<Z?2)O;9U'=V+K`T9;J_K
M[:-PU!"9W<LP;:73V'O:HTF<TIJ=?;KJ5:)5=.T6"'4GU7:!&.%S+)X,!>>`
M```````````````-,^K/Z&?U`!L`````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````-,CI/=[X1H/(Y(,GO%G\O*$_$A2OOI8AF#T
M._(V7X5/XHF)76O\L(_@L/CD8>^.^B[;R7W10M%T1]"1MMV')/(N%?6-=VVA
M&[AC$2$RJ>078M'[M-/+6-4P7P(GSD^<8Z=/3BY^MZOC:#I5[5\Q3EC6(IR4
M4G)U:CL3:6]KM+:Z-I63KFIV=)PW!9-Z347)M1JDWM:3>Y>1F9H_NX/.,I39
M+L'CT?.,9S@N+)=\>+/P8ZYHWHZBUBZZ\G[NYSO\"W_\:7,_V(\X?YW!_P#.
M7/\`XHMUW%V..X9J&(>SR>M*]M.+CT5'#O\`!-9%;#+IMTBY.=5.ORT3`2SS
M)2ESGP-DUU.GP">:7U<Y(U2ZK/K$\>Y)T7?1X57ZI.45[[2)1J?2CG/3+3O>
MKQR(157W,N)I?4M1D_>BS%$Q?V6EV'#R,?3M2M==D%D,.6+A_!3\)*,%S).$
M#*(F:OV#UHY2R11,WA,0Y<E-CKC.!<><+&59X;BA<QYQW-*49)_"FFBWD)W\
M6]QP<K>1![U6,HM?`TT2Q.S5WB[9?;C7>)?*J<+-3-@(:/U%MI\HF@_D9=J@
M=9*DW+T$1=.Y-LB?YO?$\*BC@N$%"',J0Y,;^J?2[&Q<6YS)R[#@MPVWK*W*
M+_\`&0\B7TT=R6U4HT\B>F74S(RLFWR[S!/BG/99NO?Q=D)^7BW1EOXJ)UXJ
MQQ<=Y#N$V/ESON?UI4)MTVT%JB:=0=?BFCDY6=PGHU8S=];)4B>2D=)F<$S[
M(D;&2I%].>IL8,+A=+>2;'+&C0SLF">LY,%*3:VPB]J@O)LWOM]PM_U,YTO\
MR:O/"QIM:/CR<8)/9-K8YORU[%V>[M*#=M_MR[![@^RY."BIK%&UA2O9%]@[
M`5CS22C+VK]L;P<$PRLU1?3KQ#'BZ'5*F@0Q3GZX-C&9SSUSS@\DX$;UV/?9
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MTLOU`Z=7^3Y0S,6;O:3<EPJ35)0EO494V.J3I)43W43I6U'M[\S+EPKY!UF^
M1,B]/0IQXW@=HU9-P8K&>JKT_L[Q?R#9R@25C4E,J-ULESDIRXQGKCT"H^=.
M5L7FO1;F'=BO7()RM3IMC-;5YZ/<T4[R=S1E<K:O#,MR?JDGPW8=DH/?[Z['
MV,MEW=(,)?=6XI>*<D>Q<MM;8TK%O4^F4WD;)7&9>L'2?3.<>!PT7(?'U#"H
M-*MSM:5BVKBI<CCVTUY&H137O,D.IW(7=3R;MIUMROW&GY4Y.C]\E1^[$_\`
M$/E[^ZW3_P!Z]BC';Q!??.F?:[_QVC(+H-][ZG]58^*\66>\A?RNM8?BI/\`
M?!F*JZ$_DO?_``C]9E*];ORFL_:$6.]F[\XUQV_X<??XNF*NZH_D/G?:RE^F
M?Y987VU'HEC!HS4`Y[/?!O)_#_<_U1[G!93K_C;>:IS:YF<DI&5J:U&Y$Z#X
M@:LI44R?3"ELB[!Q_D^5+RY/+2Q7@FT.RAI-+>,3B,4:/WRZQF[OST6^$T<N
M`+*-3=N_E#J?B[VY=5T[:>H*5NGA;Q+W'IF2V,V:62\5:+V_=^/['6=&O=-K
M4O6*R>]UBM7MD22>-I;YD4<LT\%\LQSF3P!:E:^T]SGW!;[GLC:E[U,:S7GM
M_P"W.(DO#6KEAR0Y$M4[Y<=]<:]IPUYCYBYZ%UG2Z[3YVOZ=DF\I'0%(@W;5
MX9I[2O/X/A>/`NPYE=LS:W)7?_(/<4!=*;"1ESUSV^4=8Q1MA[KUM9'>P>&G
M(+D'N"TQ-FOFE5J?L'54'<H#;#%C"VFKS;R;AI0BCXT>J1HFV?`78<"^+]QX
M]1.VK%LBM0-5OVVK="24E%Q7+CF!S@DF\!4*^E7ZTE8>0W,B497BT/\`!5'*
MB;6-K%8C8UNJ1OY3U0AGB@'>N#''RY\9-'S^M+Y)UB7G97DES&W$W=U%[*OX
MDE9Y"\L]T;XI;%9>9A8!X6=C*AL9BVE$BH&;HR22Z:"SE$J;A4"R/5'`_E)7
MVW$WCS>IW0R?%SA)O"5VKKO:-;MNT+-R'W16XVE[?J.KJ;>Z%;J4TJ^L;-66
M^U$OI)9TKM=5K>K%JKE8Q&9)5%L!1[BIV].<O"^H:N<ZP)Q/V+L>(X6:EX#7
M]ML#;NWJ[26U(XW7+;LUIOD+2WD/QYLTZ^LUDC-QR*EHUNY0CHW#E)LFTMAO
M*5=N0*`Z7X3<C-:3_,_MZ<=K#I&PT3';\X(</[UM[=CNY1=NI<;^!7D)KY_M
MBK4"GU.P1&W7*L;)KF0J4C.4]J@MX%/G@Q/,;J@7FV_M_P#*5M5MY<5-<V#0
MCOBCR6W#4=D7';]YM.S$>1NK*JSK>IXC8%&KNL8NC2U*VY9+.ZU6;YCL[Z\5
M4E:1EB8/$2A(M)%X!MP'`CEG5;95M=P,IQV2XZ4[N<7_`+@1;G(7'93W<EKK
MNVMN;6W#8=1FUXEK!G3*7*4:R;/,1C-XM$ZG.LF145F<6HH9U@#;UAP2Y?\`
M&"9A-CZ)5XV[&V)=>+55XL;>@-O;&V=2Z73&FN-O[ZVCK[:>M)JKZ6V!.7E1
M''("4;352?LZPWE#-&JB,RR.58ZX%*&7::WWJ"(X\T3CE9M;5&7TKHK1NC(;
MF96]\\BM#[X@('5=>KT)8,;1XW4JM;`XX<W8J<7B'"L%'W-W66=8;.\-TR.S
MIF<+`2$0```````````````!IGU9_0S^H`-@````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````!ID=)[O?"-!Y')!D]XL_EY0GXD*
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M>@I!K*P\JP5,@\CI%DJ59J[;+$S@R:R*A<9QG`O1>M6K]J5B]%2LSBU)/<T]
MZ99RU=N6+D;UF3C=@TTUL::VIKW&<>X<+NW"[IRJ==RY64<.%U#9,HLLL?*B
MJJAL^DQSG-G.<_&.\8J*48[(I'5MMMO>R]WBYW$^4/#BISM+T/9Z_6X6R3I[
M',>W5IM*OWDF=HV8X,=ZHX24\A-LS(4B?3H7IGXQ27,/)'+_`#1DPRM8MSN7
M;<.&-)4256]U-]7O*KY?YTU[EG'GC:1<C"W<GQ2K&K;HEO\`)1;BY_\`SZO<
M9_Y4:Q_\2VG_`+M%/_[(.1_^CS_P_P#@)_\`[6N=/\_#_`7[)0_D/W2^8?*7
M6$OI_<URKEBH\T\BG[MDWJC5B\(\A9)K*Q[AH]*Y5.V43=M"=<XQ\HG4OJSD
M3?0^GO+'+NH1U/2[4X9<4TGQMJDDTTU3;L9*=:Z@<R<P8$M-U.[">+)IM<*3
MK%IJC[-WP&.T5N44:YSDV<F-G)C&SG)C&SG.<YSZ<YSG/ISG.0!+P]V)_P"(
M?+W]UNG_`+U[%&,_B"^^=,^UW_CM&2'0;[WU/ZJQ\5XLL]Y"_E=:P_%2?[X,
MQ570G\E[_P"$?K,I7K=^4UG[0BQWLW?G&N.W_#C[_%TQ5W5'\A\[[64OTS_+
M+"^VH]$L8-&:@'/9[X-Y/X?[G^J/<X+&^+?(KDMO_P!HV+;N/^C-;<;95QLG
M%"O<%RBO.Q]Q6&+I]ZF:I5)V>TZKQ/HM%KD;>(:#4E\^Q[`F5&"*Z"6"NC'4
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M#5:;,5;F[MEUM6,TM3\+S-TWO<-52/`.,J,&QIM1,QS(1B=U=-\6&9CXA"2<
M9=IN\@<?KSN%7BR;.T<UO.@:S2./'*W=NTM$<9]QQ.\'5RO5HM>M:EMZ\1\G
ML_4)M/5F!UO7=FUK2$XYKRT;<K4LH7#8KU)D=<I,`7><J^1==XIZ%V%O"PU^
M>NBE/A7"M9U[4TTEK?LFY.4SI5>A59)?.&Y9:R2G@1]H6R5JP;^:[<F3;-UE
M"`6X3?-3;%I<Z7I_&[CU4=L[:V%QPJ?*N_T^_P"^'FGZSKG5EP*VCZ_$Q=XC
MM,[37N.RK=:,/V,#'NXFOP[Q*&?N'LM&E2236`[WM_F;C4,WQEJ$KI38CB[<
M@MAZ:HUI@UW5=;1.AB;?3LJ;9W?KO&2$_3++-1$Q4)",)%5A[-+.WB'G>8C&
M&^<<`4WL'/6TQ%YW9*--&1JW&/CANVI\>=O;EF-LGA-DXV':4-0+.9[7.DD=
M;2\';M5TL^YV!)F5DKK7YC!H^0^;H>1\MM[6!DC`````````````````````
M&F?5G]#/Z@`V````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M``````````&F1TGN]\(T'D<D&3WBS^7E"?B0I7WTL0S!Z'?D;+\*G\43$KK7
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M>T_6K,9ZI&?%"LI1XH46Q4:3:=?>:)!/^9B[;/\`T9:K_P#M*?\`_P!Z"R7^
MUCGS_IT_\&/^27E_V7<D?]#7^'/_`"CYW79M[9[%LL\?<;J:S:-DS+.'3J8F
MV[9ND3'B.JLNM+$223)C'7)C9QC&!VAU5Y^N24(9MQR>Y*,6_K3B73#D:$7.
M>)%16]NY-)?\8V5^S9VU5(U=ZSXV5%9,S)9PV<(2LXJDH7R3*)*I*$E3)J$-
MZ,XSC.<9'>/53GU75;GG7$^*C3C'_).LNF'([MN<,1-4JFIS_P`H@(;AA8RM
M;>VQ7(1H1A"U[9VP(*'8IY.9-E$P]MEXZ-9IF4,8YB-F;8A,9-G.<X+Z<C,S
M3+MS(TS&OW76[/'MRD_*Y03;]]LP^U*U"QJ.18M*EJ%Z<4O(E)I+X"59[L3_
M`,0^7O[K=/\`WKV*,=?$%]\Z9]KO_':,@^@WWOJ?U5CXKQ99[R%_*ZUA^*D_
MWP9BJNA/Y+W_`,(_692O6[\IK/VA%CO9N_.-<=O^''W^+IBKNJ/Y#YWVLI?I
MG^66%]M1Z)8P:,U`.>SWP:G\S*"^$2$46RD?RB'64;$.IX#>`AW"2:RJ!#&Z
M8R<I#&+CTXQG..@]S@PA<0>';S6^Z>.<KJG@'GMV1^CH2R1O(RXQ]_T5MUER
MW@5]43FO*!JEKNRLWVT\FMY5/7]RDV5E9V#:4%4)=N6!9I(M<&=.6Z`%177#
MGDI<;GW=HVNVZ"T"SY?[\XYS^IMJV2LI[=A[3JNG\0>+.J=O1SVA43<FJ+S#
M-[3):YLM3444G:[,-4EC2+`_3V1P<#K'$GAASCJ%Y[AR&W.1<-I*-W5R/TY?
M=1[3X?Z(U1KZ9L,#1^)G'S4\U*5^F<C;SSPJ%*U^JIK\E:^C\Q!_/R4A7GDL
MVDL1\JQ9L@*.[JX&;GF=N[I?RNEY'DSR'V+/Z03XC]SJWQ?$QE=N%%2UAK#4
MU>?9MB_SSJS:-4ER;?KUSO)XW55)=5RRR%O<,W+2*:.'!$P,D=2TGL21[BNY
MN25[A6B>NZSQ;TUH7CE(J&K+YT5]8+_LO8_):39&;/75J@?I"]C=?L72+I%H
MV>EK[91+SLI&,0#'SKKC!RLL<AP@XV6O25RTMK[@=RGWAN3_`"HF.P-!6VG[
M.I&-2<L-0:#7U'6R7.W;/;[!?Q_(.)E)YM<J)%0\8[BWB"1Y-$R!E@*U<@^"
M/,^R0[62H/.ACN^5IE$W>C5XCFAQ6U=LBQ_33:%$;49%]0IWBA>>WQKNF2T;
M4TY2(BY"<KMC=LB6N6,JZ.V62;-P+:9#M_7F"DM';8Y"<0H'GK=I3@CQ]XHW
M*BTYMI&JUW1NU-"VC9]RU_MIK2>1F^C5ENE!M=PO8Q]:*Y:+#:8N1B2/(*+P
MC).2H`7L3G&[D:;C-VU=:7";_#5N+CQMWB#8N0VQ/G6+C_GY355+>PVT=C>=
M87\6YFO:IY3+CRTBJR3SSO,P@8^3X*!;/S"X03_)+=.TJ7"<.+13?PF[5XXW
MB4Y4L^4;I_Q6N53UQ;=.3E[O.U.(3'<=#67YCQ%/U\\K%6FC:WM!46S"!>*6
M]!-O\UQX&=D`````````````````````:9]6?T,_J`#8````````````````
M````````````````````````````````````````````````````````````
M``````````````````````````````````````````:9'2>[WPC0>1R09/>+
M<XQSRA.N>G_\D*5]]+$,P>AWY&R_"I_%$Q*ZU_EA'\%A\<C!O3KI:]>V6*N5
M%L<K4K9!+*N(:Q03LS&6BUUFRS-95D[)U.B=5JX43-G'K(?./A%W<G%QLVQ+
M%RX1N8TU249*J>VNU>ZJEJ,;)R,._')Q9RMWX.JE%M-=FQK;N+D\\^^;&?1_
ME4;I]/\`\,W?_P!Z)%_J=RK_`-7XG_FT3O\`UMYF_P"G97_G9_LE)M@<B=[[
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M*Q=M-O:H7&H_!)2I[S+AXG5OG3%M*U*_"[1;YPBW\,>'Z-2V[D)W0N;_`"7B
M7E>V=O*8:U)^0Z+VJ4IHSI,(\;JXZ*-'QXG!9=^U4+Z#)+.SIGQZ#%R)[HG3
M_E+0+BOZ?AP]96Z<VYR3\JXMB?G23))K//G-6NP=G.RY^KOZ2-(1]Q\*3:\T
MFT22NPUR7Y5;*U-8=4;=H%MG=34F!6SKG>$_YK+)FI$#D2IZ^93RWEF2;$QT
M;O4/'@A,8(IDV<9,+$=8M`Y<P-3MZEIMZW#4[LUWMB.W;^WV;(5[8OW5Y"^'
M2+7>8<[3IZ=J%F<]-M0?=WWLHJ?(V_+7D:W;GY2(IO[./P];R]./X9=I_#_\
M.IX9+Z-^)\3\%M?<XF-^K_C;*_"+GU[)2_NQ/_$+E[^ZW3_WKV*,>?$%]\Z9
M]KO_`!VC(#H-][ZG]58^*\66^\AYQCEUK#KG'\%)OO@S%5="?R7O_A'ZS*5Z
MW?E+9^T(L=[-N<?YQKCMZ<?[^/OA_P#U<@J[JC^0^=]K*7Z9_EEA_;4>B6,&
MC-0#GL]\&\G\/]S_`%1[G!UPEVIBMJ2HJ5NK"EW<04C:4*<2?BCVI:LP\RWK
MDO8DJ\5WF74@HNPNTF#EWA'+=!ZJ1`YRJFP7('9P````4ZV3M_4VFHR&F]O[
M1UUJF&L=FAJ57I?9-VK5&C)ZY6-Q[)7JE#/[/)Q;64LT\ZQY3)@@=1TZ4^2D
MF;/H`%10!M(+H.D$7+99)PV<))KMW""A%4%T%28426153R9-5)5,V#%,7.<&
MQGK@`;H``#YGKUG&LW<C(NVS"/8-EWKY\]72:LV3-JD==T[=NESIH-FS9!,Q
MU%#F*0A"YSG.,8`'QP,]!VF#AK/6)F)L=:L<3'3U>L,#(LY>#GH.79HR$3,P
MTM'K.&$I$RC!PFNW<(*'171.4Y#&*;&<@<J`.(FK!`5QL1[89N(@6:BI4$W<
MU),HML=<Q3&*B1=\L@D94Q2YS@N,]<XQD`?'8KC4:@C#.;9:JW6&]CL,)4:\
MO8IR,A49VUV9V5A6ZQ#*R3IL24L-@?'PBQ9(9.Y=JYP1(AS9Z`#L8`IEL'=6
MF]2F\.U=M:RUD;Z&7K8_AV#?*M3#?@]U>G`J[+OG2QRL;GZ&:[2M46:=E/\`
MVC$%DFN72J6'"7C`J60Y%2$43.51-0I3IJ$-@Y#D/C!BG(8N<E,4Q<]<9QZ,
MX`'Z`````````!IGU9_0S^H`-@``````````````````````````````````
M````````````````````````````````````````````````````````````
M```````````````````````!ID=)[O?"-!Y')9OOG@#Q*Y,W1'86[=/5^]V]
MO#M(%*9D_:/:21+!1=5JSQY2I"^6BHY/G'HZ_*%5Z-SMS+R_B>HZ3E3LXO$Y
M<*W5>]_0*8U?DWES7<OUW5,:%W)X5'B?D6Y%%O\`,]]NGIT_R:J;^C_MSK_C
M`F_^U+GG_I]WZ'[!*O\`9GR5_P!!M_1!.SYVZB&\6.-5-SGKU^5[8;'7]#+@
M</JESR__`./N_0_8'^S/DK_H-OZ)W*O=K3@#6')'<;QBUL9PEG!DSO(U9WX#
M%SUP;!57&2]<9^/`A;W4?G6_%PGJ%_A?D=/UB(L].^3+$N.&!8<O.F_UR\JE
MZWH&N8Y*)H=-K51CD283(UK\.QC">#'J*<S9$BBF,=/[[.12N7J.=GS[S,O7
M+L_+*3?QE4XF!A8,.[P[5NU#^YBD=U$$19H8I38R4V,&*;&<&*;&,ESC/HSC
M.,^C.,X!-IU6\-5V/<6)[\[:?"SDD[<2NS-(5A:P.LF,O9:^@2OSBAC8])C.
MF),)&/G/IZY3SG.?3D5GHO4#FS08*U@9=SN%NC+TH_`_V2D-7Y#Y6UN;NYN+
M!7WOG#T9?"MGT"QYS[O9V_UGF7"+#9[5ODWB]B3NIC)8+UZ^#!\L,&Z"KX];
M^<U#A;QW+R]W_P`)24NBW)[GQ+UE1\G>?\!<1J3LV]OS3TDUF8?23*TRK)0J
MS5[>WZME.@N3IDBR::B;='Q%-CKCJ4V.HD>I]5>==3@[4\IV[;WJVN"OQD\T
M[IAR=ILU<AC=[-.J=Q\5']`R7Q4!"046C"0D3'0\.W0]F0C8QF@Q9(H>'P>6
MDW;$32(7P^CT8%O[N1?OW>^O3E*ZW6K=7\+*[M6+-FWW-F,86DJ4227P(Q[S
M?:2[?=CFYFQ3/'2HO9B?EI*<EGJF7?F/)27>KR$@[4Z+XQXW+MP<^?JF%<6N
MIO.MBU&Q:SKBM0BHI;-B2HEN[$BC+O3CDV_=E>NX5MW)R;;V[6W5ER''?B3Q
M]XI,K3':#US$:]9W1U%/+*C$^=X91S"IOT8Q5?S3GSU:IR:^"]/_`,)D2#7>
M9];YDE;GK-^5Z5I-1KV*5*_#1?`3S1.6]&Y>C<CI%F-F-WAXJ=O#6GP<3^$Z
MCOW@?Q4Y/VB.N>\M1P%]LD3&_-#"4E//\]O'9.13V8GE*$+X/&3&?5\`BM%Y
MSYCY>QGB:1DSLX\I<32IO\I#:QRAR]KV0LK5<>%V_&-$WY#IVJ.VAPGTA?8'
M9VL-%UBJW>LK'<0DZQ]I]J8K*%P4YTO&L8O7)<?#@16I=0.;-7PIZ?J&7<N8
MEQ4E%THR&T[D3E;2LN&=@8L+>5!UC)5V,ON%&%7`<]GO@^239.9*)E8YG+R-
M?>/XYXR:3T0E$K2T(Y=-E4$)>+1GHN;@U9&-54PL@5ZR=M#*$+A9!5/Q)F]S
M@B?<'=2;^EGO$.)J7,C=6M;(T[7')&VRNRVM`XTV;:#1ZVY7:]-#T5@UNVAY
MO6;>I1LPU7/(FD:T_L3G!S(EDT#]%4P.4W3W.^3EGX$0W+JA<B-O4W<>M>V!
MH/ES?M.:`XW<=%-'-]Q;6H=FNR4IR+W1RN^D"3S6%R>5/*#"FZ[DJ[>(R.*Y
M*W<3\O+0#$@%Q,KRTYF2:_<)WDSY)R]?J?$#D'PRBM?Z*B=7:1<4"TT[;'&?
MB'L';%'O=CG=<3.UG,/-3^ZI9[$O(RPQDO$OC%\QV\8D3CR`;%=YU<\K?R`M
M]VB:-NJ.UU5.XU(\+S:YM-K[:5`XA9U17M^)::?6B0L6Q=N5CN#+<D+51<'N
ME=8,XX\3.+.6$;&0D@R=H3"P%X'<=JML7Y/]N'9-7V)LB$?ZJV)R7O,1K^EP
M.DY9E=YRI<3=N67,2X>;,U->[)%NKM`QKVINEHB3B7!(6?>Y:K-9'V21:`6"
M;/WIR8L7&"B9?<YWV]O\X3VU>4.Y)JIT;7?'F"SHZ9I?'-OM!&\\:'%8UXM;
MBZ8=SL]]!99K>U+Y+^UR\8HTFHV034*Z`J<SVWR'A=:[*J4+S]?:#B^"W;SX
MQ<@X.6N6N^,$ZYW:]NM(V7:9.X\C%+#KB,89X_-E=>-:F@VH9-=395FD@JI.
M9<*M52`4M2YU\R+0V[AG)$O)":I6>'$KQ1L^M^!S#7?'U>-O>=W<-N+VXIK2
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M3Y37\HG.U^94.]D\JLT4`*]J\QN4E/Y45W8>X]BW:M<6KMR"T7HBL0.H('BS
MO#0=1G]V5/7M;@](\C(5!.G\Z],\HGF[KSAJ29:/+#1V4<JQR\BD?:3J)@8J
MN3\KKKD="\A^2/)N;T_%3NG.&A.=4&XY3:0U]O\`IMK<;+O>_H+1G%O6NK=O
M'L<-6*%JRN:5;0ET6I3.*N=CL]C\XTJU4\LJ@%R#.KWG3NNM8Z88[9K4%JRC
M<K>T)-+7:TOD)JC:CY=WRU3KWD]I^C5U27C(6H51B5K3Y2%K:+E&+A9NW':I
M-4VQ<-,@5_V[S8YA4K9\UQ&H.SMF[R5:<],\=4-^Z=K_``<AN3KNJK<'X_D^
M[T_7D.0TUI_A8YWY6+](^0[=.X7&?H>D9).`<2Y%'8`Q\\_]E[SV=HMV]Y"E
M?K;`J':\]X@UXC,V*5XZ2&P;#5*>\X,QU6D]ML>*.R]K:&KNWVT5DK"S,:_)
M-&7SNR7<)Q<0FN2-:@21>=FW-CZMTUHF&UEL-MIF7WIR0X\<>9?=R\'5[&[U
M)6]I3OS?(V2N15ZCIJA*WJQ.&2%:KBD['RD2A8)YDJX8/RD]C7`LHW9NO;M/
MCZEHJ#[D&X=K[1HE>Y/W>[V7B!QBX:O=TV&&U=;:O`5F,WQLC?*]AX3Z9<ZI
M3MZ,9;DUX.C*V28,G)(JU2+CY)HJ!?YVTM^;`Y3=O_A[R+VJK$+[)W-Q_P!;
MW^\.("-Q#0[JS3]?:.Y9U'Q15G"<<@Z=F,IY)#>6GDV<$P4O0N`+X``````!
MIGU9_0S^H`-@````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````!ID=)[O?"-!Y'(```````````````````````````<]GO@X2TP\
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MC&I]KHK*S/*I6:7#QT:J](N=BPB6;=#)$FJ!"`<:X[4:3O<K?D6[YQ\DW7(-
MI&)PC7>SCC'V>%MRMH9)`[5*(;[/4[6IKLC&)-E#)E;E?82*F;)<%Z9S@`=@
M@.VA9:HI$+5;N%<LZTM7[?=]@P"L!Q][14.I"7W9BTVXV1=X@\=VOFQHVW[!
M7LLB><DD<D>RQY!SETHKE=7)@.L47M-,=76/8UQUGS;Y&:ZMVXB^#;EIHO%[
MLZ5&Q[3+YCY7P[&G*_VLX^3NY?-DW)NDFJZQXG"N?6H;J!U5]V8-=R<5J>!D
MN5>XI"#T,Y0>:-AGW#WLO.XK3#MK*%G&SK4\<OVJ%&>NG+>:(5XF>'(S,1UC
M"N,X4QX@!T2J]D8D9R0VSREMW/7?EUW)=]IP&T*-M"2XM=KF4VYKF3A],ZRT
M\Y78["V#P*V-F*GGT;K5L7#FF1]&C\QQ&R+F/=OTG4L_`KDCVK#MMQK\B6_.
MKDRAR!<PQJXYWHCQH[/:6XW%>.0B9X%?9Q.UN6ZJPQR)E+EJ9]E#."XQX?1@
M`<!&]H"LPUXE=G1',;?45LF=L$A;)S84;Q/[-3&\3-JEZE8:!+6:5MC7M7)3
MTC8).B6Z6A'#U9P=RM$2;MF<YF[E9,X&_9>T7!W27U98+CS/Y`VR>T9&(0ND
MYNR\5>S?.R^GH9JBS;-HG5DE*=K!T]U]&-V\<W330B3M$B$03+@N,$+C`'V/
MNTVRE-RLN1DGS<Y&R/(2-9(1L=O9]Q>[.KO<K".:MU&C:/9;/<=K-2[M63=J
ML=,B2;XJ9$SY+C&,9S@`6U[`[&US?*F<:N[CFWH]=[/;.L#\O(KAOVW.3["+
M<;G7EG>UH[7$9+\2]>LM5UO8#Z:<KRD/#%1AW:KMV<S7QNE39`J?1.R\TJE!
M1UY*\]N3TY5<M*@W/KM/C[VMS:)@#T-S+.JG^##1%S[>=^H>I6D0ZFG"Y481
M-OYKM3*ZIU%<$,0#O)NT5!'TPGQP/S.Y`GX\(XR5+0QN*O9N-IA(N7IY+)4]
M79[6&:.3&9%4SCIACC]O-D_W6<Y`'[4[1\,K3Z]KU7FER$4H%1UW==05.CJ<
M5^S@>GUC4VR2PA-BZOKU9-VL<PL+KN_$K,;B:A&R"4;*XCVV'2*OD)>`#GIW
MM</K3&;5A;-SUY16.'WMB*QN^)G>-_:`EXS<F(*NQ%/A,;582':Y<-=AXAZE
M7V$6U^=R//9XYBW;)^%%%,A0.BR'9HH4O6-7TB6Y8[HDZ7I"31F]+U&0X@]F
M%[6-0S+=RF\0EM7P#GM4JQ5`DT7B152.(E)HJ50N#8-@V,9`%VN@N'MZT'-5
M#+/G'R>OVM:>G,(M]#V;5_;THVI))&6CY9`B3IMQ]X*:3O<2G%S,K\[(%AYZ
M,PK(MR>T^T-CN&RX%\/C+\?Z6?L`!XR_'^EG[``>,OQ_I9^P`'C+\?Z6?L`#
M3)B],^GX,_!D`;0`````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````#3(Z3W>^$:#R.0```````````````````````````Y[/?!__
!V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
