<SEC-DOCUMENT>0001193125-12-343551.txt : 20120808
<SEC-HEADER>0001193125-12-343551.hdr.sgml : 20120808
<ACCEPTANCE-DATETIME>20120808140900
ACCESSION NUMBER:		0001193125-12-343551
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20120808
FILED AS OF DATE:		20120808
DATE AS OF CHANGE:		20120808

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:		121016323

	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>d393103d6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="4"><B></B><B><I>SECURITIES AND EXCHANGE COMMISSION</I></B><B> </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>WASHINGTON, D.C. 20549 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>FORM 6-K </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="4"><B></B><B><I>REPORT OF FOREIGN PRIVATE ISSUER</I></B><B>
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">Pursuant to Rule 13a-16 or 15d-16 of </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3">the Securities Exchange Act of 1934 </FONT></P> <P STYLE="font-size:24px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">For the month of: <B>August 2012</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="3">Commission File Number: <B>&nbsp;&nbsp;&nbsp;&nbsp;1-8481</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>BCE Inc. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><I>(Translation of registrant&#146;s name into English) </I></FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px;padding-bottom:0px;" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>1, carrefour Alexander-Graham-Bell, Building A , 8<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Floor, Verdun, Qu&eacute;bec, Canada H3E 3B3 </FONT></I></B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>514-870-8777 </I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><I>(Address of principal executive offices) </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">Indicate by check mark whether
the registrant files or will file annual reports under cover of </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">Form 20-F or Form 40-F. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="29%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="29%"></TD></TR>


<TR>
<TD VALIGN="top" NOWRAP> <P ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">Form&nbsp;20-F&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">___________</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP> <P ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">Form&nbsp;40-F&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="3"><B><I><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I></B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">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): <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">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): <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">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> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="14%"></TD></TR>


<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">Yes&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">No&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="3"><B><I>X</I></B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection
with Rule&nbsp;12g3-2(b):&nbsp;82-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">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='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="3"><B><I>SIGNATURE </I></B></FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">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="font-size:50px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
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<TR>
<TD COLSPAN="3" VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>BCE Inc.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="68"></TD>
<TD HEIGHT="68" COLSPAN="2"></TD>
<TD HEIGHT="68" COLSPAN="2"></TD>
<TD HEIGHT="68" COLSPAN="2"></TD>
<TD HEIGHT="68" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="3">Date: August&nbsp;8, 2012</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="3">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3"><I>(s) Alain F. Dussault</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="3">Alain F. Dussault</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="3">Corporate Secretary</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>EXHIBIT INDEX </B></FONT></P>
<P STYLE="font-size:30px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="3">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Times New Roman" SIZE="3">Bell Canada Code of Business Conduct. </FONT></P></TD></TR></TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>d393103dex1.htm
<DESCRIPTION>EXHIBIT 1
<TEXT>
<HTML><HEAD>
<TITLE>Exhibit 1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Exhibit 1 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="right">


<IMG SRC="g393103g90x97.jpg" ALT="LOGO">
 </P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All
Rights Reserved. </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>TABLE OF CONTENTS </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>1.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="7"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>POLICY OVERVIEW</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1.1.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>S<SMALL>UMMARY</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1.2.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>S<SMALL>COPE</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1.3.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>O<SMALL>BJECTIVES</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1.4.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>A<SMALL>NNUAL</SMALL> R<SMALL>EVIEWS</SMALL> <SMALL>AND</SMALL> S<SMALL>IGN</SMALL> O<SMALL>FF</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>2.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="7"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>POLICY DETAILS</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.1.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>O<SMALL>UR</SMALL> P<SMALL>RINCIPLES</SMALL> <SMALL>OF</SMALL> E<SMALL>THICAL</SMALL> C<SMALL>ONDUCT</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.1.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Personal Integrity</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.1.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Getting Help with Ethical Issues &#150; the Business Conduct Help Line</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.1.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Reporting a Misconduct or Violation of the Code</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.2.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>R<SMALL>ESPONSIBILITIES</SMALL> <SMALL>OF</SMALL> M<SMALL>ANAGERS</SMALL> &amp; E<SMALL>XECUTIVES</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.3.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>P<SMALL>ENALTIES</SMALL> <SMALL>FOR</SMALL> V<SMALL>IOLATIONS</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.4.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>C<SMALL>ONFLICTS</SMALL> <SMALL>OF</SMALL> I<SMALL>NTEREST</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Conflict of Interest Guidelines for Executives and External Directorships</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2">2.4.2.1.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Definition</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2">2.4.2.2.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">External Directorships</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Conflicts of Interest Relating to Family and Personal Relationships</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.4</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Conflicts of Interest Relating to Supplier-Funded Incentive Programs</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.5</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Conflicts of Interest Arising from Outside Employment and Similar Activities</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.5.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>L<SMALL>OANS</SMALL>, G<SMALL>IFTS</SMALL> <SMALL>AND</SMALL> E<SMALL>NTERTAINMENT</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.5.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Loans from the Company</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.5.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Business Gifts &amp; Entertainment</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.6.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>P<SMALL>OLITICAL</SMALL> C<SMALL>ONTRIBUTIONS</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.7.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>L<SMALL>OBBYING</SMALL> <SMALL>ON</SMALL> <SMALL>BEHALF</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> C<SMALL>OMPANY</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.8.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>I<SMALL>MPROPER</SMALL> I<SMALL>NFLUENCE</SMALL> <SMALL>ON</SMALL> <SMALL>THE</SMALL> C<SMALL>ONDUCT</SMALL> <SMALL>OF</SMALL> A<SMALL>UDITS</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.9.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>I<SMALL>NSIDER</SMALL> T<SMALL>RADING</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Material Information</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Trading and Tipping</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>10</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.4</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Recommended Time to Purchase or Sell BCE Inc. Securities</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>11</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.5</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Short Sales, Calls and Puts</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>11</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.10.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>P<SMALL>UBLIC</SMALL> D<SMALL>ISCLOSURE</SMALL> <SMALL>OF</SMALL> M<SMALL>ATERIAL</SMALL> I<SMALL>NFORMATION</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.11.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>C<SMALL>ONFIDENTIALITY</SMALL> <SMALL>OF</SMALL> C<SMALL>USTOMER</SMALL> <SMALL>AND</SMALL> E<SMALL>MPLOYEE</SMALL> I<SMALL>NFORMATION</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Customer Privacy</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>12</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Interception of Private Communications</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Business Customer Contracts &amp; Proposals</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.4</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>The Bell Privacy Policy</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.5</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Employee Privacy</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>14</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.12.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>I<SMALL>NFORMATION</SMALL> C<SMALL>LASSIFICATION</SMALL> <SMALL>AND</SMALL> R<SMALL>ECORDS</SMALL> M<SMALL>ANAGEMENT</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.12.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Preservation of records under legal hold</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>15</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.12.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Confidential Information</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>16</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.12.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Post employment obligations</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>16</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.13.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>D<SMALL>EALING</SMALL> <SMALL>WITH</SMALL> C<SMALL>USTOMERS</SMALL> <SMALL>AND</SMALL> S<SMALL>UPPLIERS</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.13.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Customer Relations</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>17</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.13.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Supplier Relations - Reciprocity</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>17</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.14.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"> <P STYLE="margin-left:1.00em; text-indent:-1.00em;"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>D<SMALL>EALING</SMALL> <SMALL>WITH</SMALL> C<SMALL>OMPETITORS</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.14.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Treating Competitors with Respect</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>18</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.14.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Obtaining Information about our Competitors</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>18</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.14.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Agreements with Competitors</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>19</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.14.4</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>When a Competitor is a Customer</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>19</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.15.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>S<SMALL>AFEGUARDING</SMALL> C<SMALL>OMPANY</SMALL> A<SMALL>SSETS</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>19</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Corporate Credit Cards and Company Funds</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>20</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Hiring Consultants or Contractors</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>20</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>i</B></FONT></TD></TR></TABLE>


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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.4</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Electronic Procurement and Electronic Processing of Expense Reports</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>20</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.5</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Business Books and Records</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>20</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.6</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Standard Contracts and Agreements</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>21</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.7</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>IS/IT and Network Security</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>21</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.8</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Personal Use of Company-Provided Internet Access and Other IT Resources</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>22</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.9</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Visible ID</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>22</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.16.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>S<SMALL>OCIAL</SMALL> N<SMALL>ETWORKING</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.17.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>I<SMALL>NTELLECTUAL</SMALL> P<SMALL>ROPERTY</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.17.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>23</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.17.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Ownership of Intellectual Property Developed While Working for the Company</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>23</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.17.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Developing Patents and Other IP</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>24</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.18.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>A W<SMALL>ORK</SMALL> E<SMALL>NVIRONMENT</SMALL> B<SMALL>ASED</SMALL> <SMALL>ON</SMALL> T<SMALL>RUST</SMALL> <SMALL>AND</SMALL> M<SMALL>UTUAL</SMALL>
R<SMALL>ESPECT</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>24</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Diversity and Employment Equity</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>24</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Discrimination and Harassment</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>25</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.4</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Reasonable Accommodation</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>25</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.5</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Health and Safety Policy</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>26</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.6</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Corporate Security - Emergency Management</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>26</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.7</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Alcohol, Drugs and Other Substances</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>27</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.8</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Involvement in a Legal Matter</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>27</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.9</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Workplace Violence Prevention</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>27</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.19.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>P<SMALL>ROTECTING</SMALL> <SMALL>THE</SMALL> E<SMALL>NVIRONMENT</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.19.1</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>27</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.19.2</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Managing Environmental Risks and Opportunities</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>28</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.19.3</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Environmental Training</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>28</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.19.4</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Reporting Environmental Incidents</I></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>28</I></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp;</I></FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>3.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="7"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>ROLES AND RESPONSIBILITIES</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.1.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>A<SMALL>NNUAL</SMALL> R<SMALL>EVIEW</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.2.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>R<SMALL>EPORTING</SMALL> C<SMALL>ONFLICTS</SMALL> <SMALL>OF</SMALL> I<SMALL>NTEREST</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.3.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>B<SMALL>USINESS</SMALL> U<SMALL>NIT</SMALL> R<SMALL>ESPONSIBILITY</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.4.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>B<SMALL>OARD</SMALL> <SMALL>OF</SMALL> D<SMALL>IRECTORS</SMALL>, C<SMALL>ORPORATE</SMALL> G<SMALL>OVERNANCE</SMALL> C<SMALL>OMMITTEE</SMALL> <SMALL>AND</SMALL>
<SMALL>THE</SMALL> A<SMALL>UDIT</SMALL> C<SMALL>OMMITTEE</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.5.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>C<SMALL>ORPORATE</SMALL> S<SMALL>ECRETARY</SMALL>&#146;<SMALL>S</SMALL> O<SMALL>FFICE</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>4.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="7"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>APPENDICES</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>4.1.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>S<SMALL>UPPORTING</SMALL> <SMALL>PROCEDURES</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>4.2.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="5"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>R<SMALL>EFERENCE</SMALL> <SMALL>TO</SMALL> A<SMALL>TTACHMENTS</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>5.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="7"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>POLICY OR PRACTICE DETAILS</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>32</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>ii</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="3"><B><U>A Message from the President and Chief Executive Officer
</U></B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">As we work together to achieve Bell&#146;s goal &#150; to be recognized by customers as Canada&#146;s leading
communications company &#150; everyone on the team has a responsibility to meet the highest standards of ethical conduct. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In
more than 130 years of serving Canadians, Bell has built a reputation for adhering to the most rigorous standards of business conduct. We value that reputation and understand the importance of earning it every day in interactions with our customers,
shareholders, suppliers, the broader public and our fellow team members. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">That is why we are all required to renew a personal
commitment to reading and understanding the Bell Code of Conduct each year. The Code clearly explains the values and standards of behaviour expected from every team member in all aspects of our business. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Please take the time to read the Bell Code of Conduct, and to incorporate the principles into your work at Bell every day. Thank you for
your support. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top"> <P ALIGN="justify">


<IMG SRC="g393103g92w13.jpg" ALT="LOGO">
</P></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">George Cope</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">President and Chief Executive Officer</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial Narrow" SIZE="2">BCE Inc. and Bell Canada</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>iii</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>1.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>POLICY OVERVIEW </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1.1.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Summary </B></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Bell Canada Code of Business Conduct (referred to as the &#147;<B>Code</B>&#148;) explains the fundamental values and standards of
behaviour that our shareholders, customers and suppliers expect from us in all aspects of our business. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In our daily activities,
we have a fundamental responsibility to address a broad spectrum of issues. These include: preventing conflicts of interest, protecting company assets, safeguarding privacy and confidentiality, treating clients, business partners, team members and
competitors with respect and honesty, fostering a diverse and safe workplace and protecting the environment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Acting responsibly
is central to achieving sustainable business success and essential to the pursuit of our corporate goal: to be recognized by customers as Canada&#146;s leading communications company. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Code provides various rules and guidelines for ethical behaviour based on Bell values, as well as applicable laws and regulations.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">These values and standards reinforce the commitment of Bell Canada to the highest levels of customer service, a working
environment in which performance is recognized and people are respected and sensitivity to the needs of the community that the Company serves. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1.2.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Scope </B></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">While the Code, from time to time, refers to &#147;<B>employees of the Company</B>&#148; or &#147;<B>employees of Bell</B>&#148;, the Code
applies to all employees and executives of BCE Inc., Bell Canada and their subsidiaries that are not public companies (collectively referred to as the employees of the <B>&#147;Company</B>&#148; or &#147;<B>Bell</B>&#148;), as well as to all persons
serving as members of the Board of Directors of BCE Inc. and Bell Canada. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1.3.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Objectives </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">The Code is intended for every employee and executive of the Company as well as members of the Board of Directors. Collectively, we undertake to: </FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">perform our work duties and conduct our business relationships with integrity and in a dynamic, straightforward, honest and fair manner
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">comply with applicable laws, regulations and Company policies and procedures </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">avoid conflicts of interest </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">foster a work environment based on mutual trust and respect and that encourages open communication </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">maintain a safe and secure workplace </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">protect the environment </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">support a culture in which ethical conduct is recognized, valued and exemplified </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">promptly report issues relating to the Code and potential violations, non-compliance with applicable laws, regulations or company policies or
procedures and any other emergencies. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1.4.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Annual Reviews and Sign Off </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">To demonstrate our commitment to and support of these shared values and standards, all employees, executives and members of the Board of Directors must certify annually that they have reviewed and follow the
Code. A copy of these certifications can be found at Attachments 1A and 2A. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>1</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>2.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>POLICY DETAILS </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.1.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Our Principles of Ethical Conduct </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.1.1&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Personal Integrity </I></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Ethical behaviour is an essential part of our job and is a personal responsibility we all share. It means performing our job fully and competently and it also means being accountable for our behaviour and
for supporting the values, principles and standards upon which our reputation rests. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Many aspects of our
business are governed by laws and regulations and compliance with such laws is basic to ethical conduct. Bell and its employees are subject to, and are expected to comply with, the laws, rules and regulations of all countries in which we operate, as
well as the expectations and requirements of our various regulators. These laws include, but are not limited to, telecommunications laws, securities laws and regulations, laws prohibiting the corruption of foreign officials, as well as lobbying,
environmental and employment legislation. Ethical behaviour, however, goes beyond mere compliance with the law. It involves thinking through the possible impact of our decisions on all interested parties &#150; customers, employees, unions, business
partners, suppliers, investors, government as well as the communities and environment in which we live and work. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Although the Code lays out the fundamental principles of ethical and legal conduct, it cannot anticipate every ethical
dilemma or situation we may encounter as we perform our jobs. This would be impossible given that the communications industry is evolving so rapidly and so unpredictably. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Consequently, we may often find ourselves caught in a situation or facing an ethical problem not explicitly covered in the
Code. In this case, we must rely on our internal sense of what is right &#150; our moral compass &#150; to guide us in making the right decision. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">When faced with a difficult or unclear situation, it may help to ask the following questions such as: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">how would I feel if, rather than initiating this action, I was on the receiving end? </FONT></P></TD></TR></TABLE>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">how would my customer react if he/she knew I was breaking the rules or distorting the facts to make a sale? </FONT></P></TD></TR></TABLE>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">if I do this, how will I feel afterwards? Would I want my co-workers, friends or family to find out? </FONT></P></TD></TR></TABLE>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">if my actions became public, how would they be reported in the media? </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Assuming personal responsibility for our actions means we can&#146;t blame someone else for our behaviour. Conversely, no
one &#150; not even a manager &#150; can force us to commit an illegal or unethical act that may damage the Company&#146;s reputation, or our own. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><B>It also means we have a duty to report illegal acts or violations of Company rules, policies or the Code to management. Turning a blind eye to wrongdoing &#150; in effect condoning such behaviour &#150;
is itself unethical. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Any breach of the Code or Company policies or evidence of illegal behaviour will be
taken very seriously. Depending on the nature and severity of the case, employees who breach the Code, violate Company policy or commit an illegal act will face immediate discipline, up to and including dismissal, as well as possible civil or
criminal prosecution. </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.1.2&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Getting Help with Ethical Issues &#150; the Business Conduct Help Line </I></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Individual responsibility does not mean you are on your own when facing an ethical issue. Don&#146;t be reluctant to ask any
questions you might have on the Code or raise issues. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>2</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Start by speaking with your manager.</B> If
this won&#146;t meet your needs you can contact our <B>confidential and anonymous Business Conduct Help Line at https://www.clearviewconnects.com/ on a 24/7 basis or by calling 1-866-298-2942&nbsp;(toll free)</B> </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.1.3&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Reporting a Misconduct or Violation of the Code </I></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">As part of the Company&#146;s commitment to the highest standards of ethics, employees are encouraged to promptly report
<U>any</U> actual or potential misconduct, Code or other company policy violations, malpractice, fraud, misappropriation of business property or any other illegal or unethical act or behaviour, including but not limited to, accounting, internal
accounting controls or auditing matters by an employee of Bell or by any Business Unit of Bell. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>An unethical
behaviour may be reported to your immediate manager. However, if such reporting is either inappropriate, does not provide the necessary level of confidentiality or if you otherwise prefer, the unethical behaviour could be reported to the Business
Conduct Help Line which can be reached on an anonymous 24/7 basis at https://www.clearviewconnects.com/ or by calling 1-866-298-2942 (toll free) or to the Chief Legal Officer or to the Chair of the Audit Committee. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Any submission made by an employee of the Company regarding an unethical behaviour shall be treated on a
<B><U>confidential</U></B> basis. The employee&#146;s identity shall be treated anonymously and confidentially, unless specifically permitted to be disclosed by the employee or unless required by law. Anonymous and confidential submissions shall
only be disclosed to those persons who have a need to know in order to properly carry out an investigation of the potential unethical behaviour. Any employee who in good faith reports an unethical behaviour will be protected from threats of
retaliation, discharge or other types of sanctions, including but not limited to, lower compensation or inferior terms and conditions of employment that are directly related to the disclosure of such unethical behaviour. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Please also see the Complaint Procedures for Accounting and Auditing Matters on the Corporate Policies&nbsp;&amp; Ethics
Program intranet site. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">No employee will be penalized for inquiring, in good faith, about apparently unethical
behaviour or for obtaining guidance on how to handle suspected illegal acts or policy violations. Further, the Company will not allow retaliation for reports made in good faith. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.2.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Responsibilities of Managers&nbsp;&amp; Executives </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">We are all expected to perform our jobs with integrity and in a dynamic, straightforward, honest and fair manner. However, managers and executives have an enhanced role. This means: </FONT></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">setting an example by complying with the Code and all company policies at all times </FONT></P></TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensuring that all employees have access to the Code (on-line or in paper format); that they know, understand and comply with its provisions; and that
they complete the annual review and sign off process </FONT></P></TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">complying with the Personnel Security Policy and the associated directives, practices, procedures and standards including Background Security Check
</FONT></P></TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">fostering an environment that encourages open communication and upholds sustainable development, health&nbsp;&amp; safety, labour and ethics principles
in every business decision and actions </FONT></P></TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">immediately reporting violations of the Code or breaches of Company policies and taking prompt and decisive disciplinary action when it has been
established that the Code has been violated. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.3.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Penalties for Violations </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Disciplinary action up to and including dismissal will be taken should an employee, manager or executive: </FONT></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">violate a Company policy; disregard proper procedures or ask others to violate Company policy </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">deliberately fail to promptly report a violation or withhold relevant information concerning a violation </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">fail to cooperate in the investigation of a known or suspected violation </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">take action against an employee who reports a violation or breach of the Code or other policy. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>3</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.4.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Conflicts of Interest </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.1&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview </I></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">As employees, managers and executives, our business loyalty rests in placing the Company&#146;s interests &#150; including those of its customers and shareholders &#150; before our personal interests.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">A conflict of interest arises whenever we allow, or appear to allow, personal interests or relationships to
impair our judgment and ability to make decisions with integrity and honesty. By thinking of ourselves first, we may act in a way that is damaging, or potentially damaging, to the Company. We may also harm our personal reputation. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We must not use our position to influence or bypass Company procedures for personal gain nor for the benefit of our family,
friends, colleagues or anyone else. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>How Can I Tell If I Am In a Conflict of Interest?</B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B><FONT
STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you are not sure about a particular situation obtain the guidance you need (see below). Start by asking yourself the following questions:</B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:5.50em; text-indent:-1.50em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Am I following proper Company procedures?</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:5.50em; text-indent:-1.50em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Do I stand to potentially gain personally from my
actions?</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:5.50em; text-indent:-1.50em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Can my actions potentially result in a financial or other advantage
for myself, a near relative (which would include, but is not limited to, a spouse, sibling, parent, child, or in-law) or friend?</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:5.50em; text-indent:-1.50em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Am I uncomfortable discussing this with my manager or fellow
employees?</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:5.50em; text-indent:-1.50em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Would I act differently if a friend or near relative weren&#146;t
involved?</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>If you have any doubts about a possible conflict, raise the matter with your manager or
contact the Business Conduct Help Line at https://www.clearviewconnects.com/ or by calling 1-866-298-2942 (toll free). </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Where an actual or potential conflict of interest may exist employees <B>MUST</B> complete form BC3684A &#150; &#147;<I>Disclosure of a Conflict of Interest or Potential Conflict of Interest&#148;</I> and
provide a copy signed by his/her manager to the Corporate Secretary&#146;s Office (see Attachment 2B). </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.2&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Conflict of Interest Guidelines for Executives and External Directorships </I></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="7%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">2.4.2.1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><U>Definition</U> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:10%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">In addition to the conflict of interest guidelines and procedures noted above, in respect to all persons who are executives (i.e. Vice-President and above), a conflict of interest may also arise: </FONT></P>

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<TD WIDTH="10%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">when there is an outside interest which materially encroaches on time or attention which should be devoted to the company&#146;s affairs or so affects
the executive&#146;s energies as to prevent him/her from devoting his/her full abilities to the performance of duties; </FONT></P></TD></TR></TABLE>
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<TD WIDTH="10%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">where an executive or any of his/her near relatives, friends or cohabitants has a direct or indirect interest in or relationship with any outsider,
such as a supplier (whether of goods or services), customer, agent or competitor of the Company or its subsidiary and associated corporations, or with a person in a position to influence the actions of an outsider, which is inherently unethical or
which might be implied or construed to: </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>4</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">give rise to a possible personal gain or favour to the executive involved, or any of his/her near relatives, friends or cohabitants due to the
executive&#146;s actual or potential power to influence dealings between the Company and the outsider, </FONT></P></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">render the executive partial toward the outsider for personal reasons, or otherwise inhibit the impartiality of the executive&#146;s business judgement
or his/her desire to serve only the Company&#146;s best interests in the performance of his/her functions as an executive, </FONT></P></TD></TR></TABLE>
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<TD WIDTH="14%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">place the executive or the Company in an equivocal, embarrassing or ethically questionable position in the eyes of the public or any external
monitoring body, or </FONT></P></TD></TR></TABLE>
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<TD WIDTH="14%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">reflect unfavourably on the integrity of the executive or the Company; </FONT></P></TD></TR></TABLE>
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<TD WIDTH="10%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">where an executive or any of his/her near relatives, friends or cohabitants makes use of any non-public information, such as information for internal
use, or of a confidential nature, proprietary, insider, privileged or government classified nature or customer information, entrusted to or obtained by the executive in the conduct of Company business to benefit himself/herself or any of his/her
near relatives, by selling or making available such information to interests outside the Company, or uses the information in any other manner to further his/her interest(s), or the interest(s) of any of his/her near relatives; and/or
</FONT></P></TD></TR></TABLE>
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<TD WIDTH="10%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">where an executive or any of his/her near relatives, friends or cohabitants has any direct or indirect interest or relationship which is actually or
potentially harmful or detrimental to the Company&#146;s best interests. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:10%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Executives ARE
REQUIRED to disclose any actual or potential conflicts of interest by providing written notice to the Corporate Secretary at corporate.secretariat@bell.ca. The Corporate Secretary is responsible for administering the Code and the Conflict of
Interest Guidelines. If the Corporate Secretary is unable to resolve an existing or potential conflict of interest with the person involved, the matter will be discussed with the Executive Vice-President and Chief Legal&nbsp;&amp; Regulatory
Officer. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="7%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">2.4.2.2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><U>External Directorships</U> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:10%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">As a general rule, executives are allowed to be appointed to an external board of directors (&#147;<B>external directorship</B>&#148;), meaning joining the board of directors of a company other than BCE,
Bell Canada and their respective subsidiaries, other controlled entities and joint ventures (&#147;<B>BCE group companies</B>&#148;) <U>provided </U>that such election: </FONT></P>
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<TD WIDTH="10%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">will not create conflicts of interest either for the executive or for any BCE group companies (see discussion above), </FONT></P></TD></TR></TABLE>
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<TR>
<TD WIDTH="10%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">will contribute to the development of the executive or will benefit the BCE group companies either directly or indirectly,
</FONT></P></TD></TR></TABLE>
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<TD WIDTH="10%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">will not be at the expense of the executive&#146;s corporate responsibilities and will not impose an undue burden on the executive.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:10%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Provided the above criteria are met, before accepting an external directorship appointment,
an executive shall, through his/her superior, seek and obtain clearance from the President and Chief Executive Officer. If appointed, the executive must then disclose such fact to the Corporate Secretary&#146;s Office promptly. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:10%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Executives should however understand that the BCE group companies&#146; D&amp;O Insurance policy will NOT be applicable
unless the executive&#146;s appointment is made at the request of the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.3&nbsp;&nbsp; Conflicts of
Interest Relating to Family and Personal Relationships </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Each of us has a variety of personal relationships
involving family and friends and sometimes our work and personal lives intersect. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>5</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We must disclose this relationship if it
compromises, or threatens to compromise, our ability to act in the Company&#146;s best interest. Speak to your manager or contact the Business Conduct Help Line for further guidance. We should also be aware that bridging our personal and business
lives may cause our competitors or suppliers &#150; as well as colleagues within the Company &#150; to believe we are in a conflict of interest. To avoid a conflict of interest, or prevent a situation from developing into a conflict of interest, you
must inform your manager if, for example: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">you are considering hiring a near relative, friend or co-habitant </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">if you transact business on behalf of the Company with a near relative, friend or co-habitant </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">a near relative or co-habitant works for or has a financial interest in or is a major shareholder of a supplier or competitor
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">If you are concerned that you may be in a conflict of interest, speak to your manager who may
ask you to complete form BC3684A, &#147;Disclosure of a Conflict of Interest or Potential Conflict of Interest.&#148; This form <B>MUST</B> be signed by you and your manager and sent to the Corporate Secretary&#146;s Office. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For additional instructions or assistance please contact the Business Conduct Help Line, which can be reached on a 24/7
basis at https://www.clearviewconnects.com/ or by calling <B>1-866-298-2942</B> (toll free). </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>My partner has just become an executive sales manager for a company that services the computers in my department. Do I
need to tell anyone about this?</B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes. Someone could claim that Bell is giving your partner business because you are a Bell employee. You should
notify your manager and make sure you are not involved in any decisions regarding your partner&#146;s company. This relationship should be noted in form BC3684A, &#147;Disclosure of a Conflict of Interest or Potential Conflict of
Interest.&#148;</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.4&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Conflicts of Interest Relating to Supplier-Funded Incentive Programs </I></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Supplier-funded incentive programs, often offered to sales employees by suppliers seeking to sell their products, may only
be arranged through an authorized program administrator who does not work with the eligible employees. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">It&#146;s
up to the program administrator to ensure there is no conflict between the Company&#146;s marketing strategy and the supplier&#146;s incentive program. For further information, please refer to the Compensation&nbsp;&amp; Recognition Policy on the
Human Resources Policies intranet site. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.4.5&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Conflicts of Interest Arising from Outside Employment and Similar Activities </I></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We all have a right to do what we want during our non-working hours. This could include holding another job in which we use
the skills and experience acquired through our work at the Company. However, we must ensure that our outside employment or other activities do not conflict, or appear to conflict, with the Company&#146;s business or with our ability to fulfill our
duties as employees. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">To avoid a conflict of interest, or even the appearance of such a conflict, you should
discuss any planned outside business activities with your manager. <B>As a general guideline, you may not</B>: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">work for an organization that competes with the Company or operate a business or promote a third party&#146;s line of products or services that compete
with those offered by the Company, </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">use the Company&#146;s time, materials and facilities in paid or unpaid work for other organizations (for example, to support a charitable community
project), unless specifically authorized by senior management (CP4 or higher). Where such authorization has been obtained, as per the Bell Community Investment policy, no company products or services
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>6</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="9%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">
(such as wireline telecommunication services, Internet services, handsets, etc.) may be provided in-kind, </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">accept outside employment or engage in any activity that may prevent you from performing your job at the Company fully and competently,
</FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">contribute to or support any political group or political activity on behalf of the Company, unless specifically authorized by the appropriate Company
department responsible for government relations. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="97%"></TD>
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<TD WIDTH="2%"></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>I am a Bell technician who installs circuitry for small and medium-sized business customers. With the growth of the
Internet and other communications services, demand for my expertise is booming. Can I take advantage of this opportunity and start up an installation business on my own time?</B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No. You cannot engage in any outside activity that might take business away from Bell or any of its subsidiaries. Furthermore, as an employee, you are expected to
contribute your energy and ideas to your job as an installer for Bell</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE>
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<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>

<TR>
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><B>As a customer service representative I happen to respond to my brother&#146;s telephone call inquiring about a charge on his account for TV services.&nbsp;Can I respond to this call and make adjustments,
if any, to his account?</B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No. Employees are not allowed to access or make changes to the billing accounts of their families and friends,
including their own.</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.5.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Loans, Gifts and Entertainment </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.5.1&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Loans from the Company </I></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><B>We do not</B> accept, whether directly or indirectly, any loan or guarantee of obligations from the Company that are for our personal benefit. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.5.2&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Business Gifts&nbsp;&amp; Entertainment </I></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Do not</B> solicit, accept or give gifts, gratuities, favours or unusual hospitality from or to suppliers or customers,
which may compromise - or appear to compromise - our ability to make fair, objective, business decisions or may unfairly influence a business interaction. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><B>Do not </B>solicit or encourage gifts, hospitality, entertainment or any other thing for personal use. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><B>Do not</B> accept gifts having a monetary value; for example, gift certificates, cash, services, discounts or loans. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>These guidelines do not change during traditional gift giving season. </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We recognize, however, that building relationships with customers and suppliers is an integral part of doing business.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>You may</B> offer and accept reasonable hospitality in certain cases. You should consult your manager or
contact the Business Conduct Help Line when in doubt about the appropriateness of a particular situation. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>7</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>You may</B> participate in unsolicited
business entertainment depending on the function or services you perform for the Company and if the entertainment is clearly intended to facilitate business goals. If for example, tickets to a sporting or cultural event are offered, then the person
offering the tickets should plan to attend the event as well. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>You may </B>sponsor events/activities for
customers or potential customers where the purpose is to strengthen business relationships; however it is your responsibility to know and be sensitive to the customer&#146;s own code of conduct on these issues. Solicitation of modest gifts or prizes
for Company sponsored events which provide clear benefits to the sponsor and/or charitable organization is permitted upon approval by your manager. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><B>You may</B> accept unsolicited, nominal value hospitality, gifts or mementos that are customary or business related. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>You may</B> accept business entertainment in the form of meals as long as it is modest, infrequent, and as far as
possible on a reciprocal basis. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B><U>Factors to Consider</U></B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT> &nbsp;&nbsp;Factors which you and your manager should consider when
assessing the proper course of action include:</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Is the Company potentially involved in a major procurement activity with the company offering the gift or entertainment?</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Would the gift or entertainment be considered
appropriate or customary, taking into account the nature of the function or services you perform for the Company?</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Would it be perceived as insulting or damaging to
the business relationship to return the gift or decline the hospitality?</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Can the gift or hospitality be applied to benefit
all team members rather than certain individuals?</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.6.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Political Contributions </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Political Contributions refer to any payment or donation, including provision of services at favourable rates, irrespective of format or location, made on behalf of the Company to a recipient involved in
federal, provincial, territorial or municipal political process, such as a political party, an election or leadership candidate, a riding association or an elected official. The Company&#146;s corporate policy prohibits political contributions
without the express prior consent of the Executive Vice-President and Chief Legal&nbsp;&amp; Regulatory Officer.&nbsp;This policy does not apply to political contributions made by individuals within the Company on their own behalf. However, funds or
assets being contributed must originate with or belong to the individual making the contribution, and individuals making political contributions should be prepared to demonstrate ownership. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For further information, consult the Political Contributions Policy available from the Corporate Policies&nbsp;&amp; Ethics
Program intranet site. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Beyond standard penalties for non-compliance with the Code which were previously
outlined, the Company may refer the matter to the appropriate regulatory and legal authorities, which could lead to penalties, fines or imprisonment. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.7.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Lobbying on behalf of the Company </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Broadly speaking, lobbying involves reaching out to a public office holder (like an MPP, a federal Minister or in some cases a mayor) in order to further the Company&#146;s objectives.&nbsp;It does not,
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>8</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">
however, include formal legal or regulatory submissions, communications in a public forum or responses to government Request for Proposals. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Lobbying public office holders is a legitimate activity but the law sets certain boundaries around lobbying, as well as
establishes some disclosure requirements, to ensure that lobbying activities are transparent and ethical. The Regulatory/Law Department must be consulted before making representations to public office holders. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Beyond standard penalties for non-compliance with the Code which were previously outlined, the Company may refer the matter
to the appropriate regulatory and legal authorities, which could lead to penalties, fines or imprisonment. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.8.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Improper Influence on the Conduct of Audits </B></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employees are prohibited from coercing, manipulating, misleading or fraudulently influencing the Company&#146;s internal or
external auditors at any time and especially when the employee knows or should know that his/her action, if successful, could result in rendering the Company&#146;s financial statements misleading in any way. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.9.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Insider Trading </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.1&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview </I></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Securities legislation imposes restrictions with respect to the purchase and sale of shares and other securities, as well as &#147;tipping&#148;, when a person has knowledge of information not yet known to
the public and which generally could affect the market price of the securities of a given company. Securities of a company include, for example, equity securities such as common and preferred shares, debt securities such as debentures and notes, and
options. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>It is illegal for you to buy or sell securities of BCE Inc., its subsidiaries and associated
companies or any other company that is a public company, with knowledge of undisclosed material information obtained in the course of your employment or &#147;tip&#148; others concerning such information. In particular, you should be careful to
avoid inadvertently disclosing confidential information to spouses, family members and others who live in your households, or to business partners, friends and others as this could be considered &#147;tipping&#148;. </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Members of the board of directors and executives of BCE Inc. and Bell Canada should consult the &#147;BCE Inc. and Bell
Canada Insider Trading and Reporting Guidelines&#148; for additional information. A copy of these guidelines can be obtained from the Corporate Secretary&#146;s Office. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.2&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Material Information </I></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Undisclosed material information refers to information that, if disclosed, could affect the market price of a company&#146;s securities or is likely to be considered important by investors in determining
whether to buy, sell or otherwise trade in such securities. For instance, such information could be used by investors to buy, sell or otherwise trade in BCE Inc. shares, as well as the securities of third parties with which the Company has dealings,
to the unfair disadvantage of others. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Examples of material information include (note: this list is not
exhaustive and may include other types of information which may be material at any particular time depending upon the circumstances): </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Corporate Structure and Acquisitions and Dispositions </FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">company restructuring plans </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">proposals, negotiations or agreements for the acquisition of securities or assets of other companies (including the possibility of a takeover bid for
or merger with another company) and dispositions of existing investments </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">changes in share ownership that may affect control of BCE Inc. or Bell Canada </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>9</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Capital Structure </FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">the possibility of a public offering of securities, stock splits or private sales of securities </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">a change, or proposed or planned change, in dividend rates or dividend policy </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">a planned or possible repurchase of securities </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">the possible initiation of a proxy fight </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Financial Results </FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">annual and quarterly financial results (such as earnings and revenues) </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">internal financial guidance (such as with respect to revenues, EBITDA, earnings, free cash flow and capital intensity) </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">a significant contingent liability </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">significant shifts in operating or financial circumstances, such as: cash-flow reductions, major write-offs, work-force adjustments; or the proposed
shutdown of any significant service facility </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Business and Operations </FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">business plans </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">senior management changes </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">significant litigation or regulatory proceedings </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">disputes with customers, suppliers or contractors </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">new products and services </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">sales results </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">research and development of new technology </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">confidential information provided by third parties </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">significant new contracts or changes in existing contractual relationships or loss of business </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">a government investigation </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">negotiations with unions </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Credit Arrangements </FONT></P>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">a default or expected default under a loan agreement, indenture or significant contract </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">changes in rating agency decisions </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">changes in credit ratings, including downgrades </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">borrowing or lending a significant amount of funds </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="88%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="95%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px">
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.20em"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Can I use information I obtain by accident or overheard?</B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.20em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">No. Even when you obtain material information by
accident, such as by overhearing a discussion of a planned acquisition, you are prohibited by law from buying shares of BCE Inc. or the target company because the information is material and non-public. In addition, you cannot suggest to your
spouse, near relative or friend that they buy or sell shares of BCE Inc. or the target company while in possession of such material confidential information as this would be considered tantamount to divulging that confidential information to someone
outside the Company for personal gain or the gain of someone else. Such shares could only be purchased one complete business day after BCE Inc. or the company being acquired issues a press release publicly announcing the planned
acquisition.</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.3&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Trading and Tipping </I></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><B>There are severe penalties provided by law that may be imposed against you personally, as well as the potential for damage to the Company&#146;s good name, as a result of unlawful trading and tipping.
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In the course of business operations, you may become aware of undisclosed material information about BCE
Inc., Bell Canada or any other company. Unless you are certain that this information has been officially disclosed, <B>you are prohibited from:</B> </FONT></P>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">trading in securities of any company to which the information relates; or </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>10</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">disclosing such information (otherwise than in the necessary course of business and on a confidential basis) to another person - a &#147;tippee&#148; -
regardless of whether the tippee is related to you or is a friend. <B>Note that trading or tipping by the tippee is also illegal</B>. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">If undisclosed material information exists at the time you trade and subsequent disclosure of that information affects the security&#146;s price, you may have to face the difficult task of proving you were
not aware of the information. In the case of trading by a family member, or other persons close to you, you may have to prove that you did not disclose such information - a very difficult burden of proof! </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">If you were in possession of undisclosed material information at the time you or other persons close to you traded, the fact
that such trade was based on factors other than undisclosed material information, or that you considered yourself under duty (as a trustee, for example) to trade or disclose information, will not absolve you from liability, even in the absence of
intent to defraud or to take unfair advantage. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.4</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp; Recommended Time to Purchase or Sell BCE Inc. Securities </I></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Assuming you are not otherwise aware of undisclosed material information, the <B>recommended time to purchase or sell BCE
Inc. securities is during the period beginning on the second business day following the day of announcement of BCE Inc.&#146;s and Bell Canada&#146;s financial results for a quarter and ending on the last day of the next quarter (i.e. the last day
of the third month of the quarter (e.g. June&nbsp;30) during which the announcement is made (e.g. first Thursday of May) (sometimes called the &#147;Window Period&#148;). </B>This will help minimize the risk of an unintentional violation of these
prohibitions, and the appearance of a violation (intentional or not). BCE Inc.&#146;s earnings press releases are generally issued on the fifth Thursday following the end of a quarter. All employees are required to keep accurate records of their
securities transactions and may be asked to report to BCE Inc. or Bell Canada their holdings and investment transactions. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.9.5</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>&nbsp;&nbsp; Short Sales, Calls and Puts </I></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">As an employee of the Company, you may not engage in the following activities with respect to BCE Inc.&#146;s securities or
the securities of any of its affiliates (such as Bell Canada): (a)&nbsp;short sale; (b)&nbsp;sale of a call option and (c)&nbsp;purchase of a put option. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">&#147;<B>Short selling</B>&#148; means selling shares you do not currently own and borrowing a third party&#146;s shares in order to make delivery, the whole in expectation that the shares will decrease in
value when you will buy back the shares and return them to the owner. Such process is subject to undue speculation and abuse and is therefore prohibited. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Puts and calls are also subject to the same abuse and therefore similar restrictions also apply to the sales of call options and purchases of put options in respect of securities of BCE Inc. and its
affiliates. For the purposes hereof, a &#147;call&#148; can be defined as an option to demand delivery of a specified number or amount of securities at a fixed price within a specified time but does not include an option or right to acquire
securities of BCE Inc., Bell Canada or their affiliates where such were granted by BCE Inc., Bell Canada or their affiliates (such as pursuant to BCE Inc.&#146;s Long-Term Incentive (stock option) Programs). A &#147;put&#148; can be defined as an
option to deliver a specified number or amount of securities at a fixed price within a specified time. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In
summary, you cannot sell short securities of BCE Inc. or its affiliates, and you may not sell call options or buy put options over the same securities. You must exercise great caution in your trading in order to avoid inadvertent breaches of these
restrictions. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.10.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Public Disclosure of Material Information </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Only authorized executives of BCE Inc./Bell Canada can decide the timing and content of public disclosures regarding BCE Inc. or Bell Canada. Examples include public filings with securities regulatory
authorities or the issuance of BCE Inc. or Bell Canada news releases. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>11</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Information is deemed public when official announcements have
been publicized and the public has had the opportunity to evaluate the information. Even after the Company has officially released material information, it is important to be sure that sufficient time has elapsed to enable the information to be
disseminated to, and considered by, investors. <B>As a rule of thumb, one complete business day is considered sufficient for this purpose. An employee must not attempt to &#147;beat the market&#148; by trading simultaneously with, or shortly after,
the official release of public information</B>. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">If you are not an authorized spokesperson, you must not respond under any
circumstances (including on a &#147;no-name basis&#148; or &#147;off the record&#148; basis) to inquiries from, or voluntarily provide information to, the investment community or the media, unless specifically asked to do so by an authorized
spokesperson. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Any inquiries need to be immediately referred to Bell&#146;s Communications Department or Investor Relations
Department. Contact information for spokespersons can be found in the Company&#146;s Disclosure Policy available on the Corporate Policies&nbsp;&amp; Ethics Program intranet site. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.11.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Confidentiality of Customer and Employee Information </B></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.1&nbsp;&nbsp; Customer Privacy </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Company has long been committed to maintaining the accuracy, confidentiality, security and privacy of customer
information. It is essential that we protect the confidentiality of all non-public information entrusted to us by the Company or its customers, except when disclosure is authorized or legally mandated. Even seemingly mundane information might be of
use to competitors, or harmful to the Company or its customers, if disclosed. Even unintentional disclosure can lead to identity theft or financial gain by third parties. Therefore, the best way to protect customer information is to limit access on
a need-to-know basis. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>With the exception of listed name, address and telephone number, all information kept
by the Company about its residential and business customers is confidential and cannot be divulged or used, directly or indirectly, except for business purposes. We may only use this information for the purposes for which it was collected and that
the customer would reasonably expect. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Recording, releasing or disclosing private customer information for
personal gain or the benefit of another will result in immediate discipline up to and including dismissal, and may include civil or criminal prosecution. This may also expose the Company to substantive reputational harm and financial liability.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Where the customer is an identifiable individual, we are required to comply with the </B><B><I>Personal
Information Protection and Electronic Documents Act</I></B><B>, a federal law that requires us to identify the purposes for which we collect personal information and obtain the consent of our customers before collecting, using or disclosing this
information.</B> Customers can also access all personal information about them (including customer care logs and notes) that we may hold, subject only to certain narrow exceptions, within 30 days of a customer request. Accordingly, we should avoid
non-factual entries or inappropriate language or comments when creating such records. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Bell and Bell Mobility are
also subject to a CRTC restriction on the disclosure of confidential customer information. This restriction applies to all telecommunications services, whether tariffed or forborne, and all customers, whether they are individuals, corporations, or
other business entities. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Unless a customer provides explicit consent</B> or disclosure is pursuant to a legal
power such as a search warrant, the Company may not disclose a customer&#146;s confidential personal and business information to anyone other than: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">the customer <B>or </B>a person whom the Company reasonably believes is acting on behalf of the customer (e.g. the executor of a customer&#146;s
estate), </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">another telephone company, for the purpose of providing the customer with efficient and cost-effective telephone service, where the information is
required only for that purpose and will be </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>12</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="9%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">
kept confidential (e.g. the exchange of call detail information for the settlement of inter-provincial toll calls), </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">a company, for the purpose of supplying the customer with telephone or telephone-directory related services, where the information is required only for
that purpose and will be kept confidential (e.g. a firm retained by the Company to do telephone installation on its behalf), </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">an agent retained by the Company to evaluate the customer&#146;s creditworthiness or to collect the customer&#146;s account, where the information is
required for and will be used only for that purpose, and </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">a public authority, if there is imminent danger to life or property which could be avoided or minimized by disclosure of the information, or
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">an affiliate involved in supplying the customer with telecommunications and/or broadcasting services, provided the information is required for that
purpose and disclosure is made on a confidential basis with the information to be used only for that purpose. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.2&nbsp;&nbsp; Interception of Private Communications </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Communications between the Company and a customer may be monitored for quality assurance purposes, with an appropriate
advisory to the customer. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>The unlawful interception of a private communication is prohibited under the
Criminal Code. </B>The content of a customer&#146;s transmissions (including telephone and email) may not be monitored, nor may the content, nature and existence of telephone calls and data transmissions be released to third parties except as
explicitly authorized by law. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Unintentional interceptions</B> of a call may occur when providing service,
doing repairs or when conducting quality control checks. In these instances, the employee must advise the persons on the call of the unintended interruption and immediately disconnect from that call. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.3&nbsp;&nbsp; Business Customer Contracts&nbsp;&amp; Proposals </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Maintaining customer privacy is also crucial when dealing with contracts, proposals and quotations. We must be vigilant to
not share business customer information - such as business plans, names of telecom representatives or information of a sensitive nature - with other employees servicing a similar market segment (for example, the banking industry). By doing so, we
may inadvertently divulge information about a business customer to that customer&#146;s competitor. Also, unless a business customer provides explicit consent, we do not share information about business customers with other affiliates or partners,
agents or subsidiaries of our group, except with those affiliate or partners or agents or subsidiaries of a group, who are directly involved in the specific contract, proposals or quotations. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.4&nbsp;&nbsp; The Bell Privacy Policy </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">To support our commitment to privacy we have developed policies and a formal privacy code - the <I>Bell Privacy Policy</I> -
which spell out the commitments of Bell, its employees and agents and the rights of customers and employees regarding personal information. They also reflect the rights and obligations set out in the <I>Personal Information Protection and Electronic
Documents Act</I>. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">These documents state that the Company collects personal information <B>only</B> for the
following purposes: </FONT></P>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to establish and maintain responsible commercial relations and provide ongoing service </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to understand customer needs and eligibility for products and services </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to recommend particular products and services to meet customer needs </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to develop, enhance, market or provide products and services </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to manage and develop Bell&#146;s business and operations, including personnel and employment matters and </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to meet legal and regulatory requirements. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>13</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Personal information must not be used for any
other purpose without the consent of the customer. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>The Bell Privacy Ombudsman oversees compliance with these
privacy policies.</B> Contact: privacy@bell.ca. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The <I>Bell Privacy Policy </I>and other privacy-related
documents are available by: i) following the &#147;privacy&#148; link on www.bell.ca or ii) on the Bellnet policies page Corporate Policies&nbsp;&amp; Ethics Program. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="88%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="97%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>I am a customer service representative for the residential market. A caller identifying himself as the spouse of a
wireless customer requested billing details for the spouse&#146;s account, indicating that he looked after bill payments for the family. Should I provide the information?</B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the caller is not explicitly listed on the account as an authorized co-user, the information should not be provided. Account details, particularly for wireless
accounts, can be very sensitive information and is often sought in the context of matrimonial disputes. Advise the caller to have the account holder of record contact the Company to have the spouse added to the account as an authorized co-user. This
approach applies equally to wireline, Internet, and satellite accounts.</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.11.5&nbsp;&nbsp; Employee Privacy </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Company has also long been committed to protecting the personal information of its employees which is collected only for
purposes relevant to managing the employment relationship. The obligations described in the <I>Personal Information Protection and Electronic Documents Act </I>also apply to the collection, use, disclosure and protection of personal employee
information. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Personal information means information, in any format, about an identifiable individual, but does
not include the name, title or business address or telephone number of an employee. Employee personal information refers to those records like the personnel files and other documents collected and used to provide services or support such as pay or
benefits information. Personal health information is held separately by the Disability Management Group. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">All
personal information is protected by security safeguards appropriate to the sensitivity of the information and may only be used for reasonable purposes relating to the management of the employment relationship or for other purposes as may be
required by law. All employees holding personal employee information must handle it in accordance with privacy principles. Aside from applying normal safeguards (i.e. locked cabinets and desks), employees should avoid discussing personal employee
information in public areas. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Notwithstanding the notion of employee personal information, there shall be no
expectation of privacy for communications made through the use of Company equipment or using Company paid services or products (for example, e-mail, internet/intranet activities, voice mail, computer files, network), as well as workspaces (for
example, desks, lockers, and vehicles). </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Company reserves the right to monitor or search any and all
Company property at any time, where it determines on reasonable grounds that this is required; for example: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to evaluate and measure service quality </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">in the interests of the safety and protection of employees or the Company </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to search for specific business information </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to comply with legal warrants or other obligations, or, </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>14</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">to conduct security investigations such as in the event the Company suspects an employee of fraud, theft, undeclared conflict of interest or other
situation which may cause prejudice to an employee or the Company or its reputation. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Additional information is available through the Employee Privacy section of the Human Resources intranet site as well as in
the Acceptable Use of Information Technology Resources Policy. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.12.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Information Classification and Records Management </B></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The purpose of the Information Classification and Records Management Policy is to ensure that the company&#146;s information
is properly classified so records are adequately managed to comply with legal requirements and business needs. It establishes a framework for the management, preservation, security, accessibility, storage and destruction of records created or
received in the course of day-to-day operations. The policy applies to all forms of records irrespective of who has prepared them; whether they are in paper, electronic or other media format no matter whether they reside on Bell&#146;s premises,
servers and infrastructure or not. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employees are responsible for: </FONT></P>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">safekeeping and protecting records under their care in accordance with the policy </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensuring that the business records they keep or generate are accurate and complete </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensuring compliance with business, legal and regulatory requirements with respect to record retention </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">improving operational efficiencies, reducing space requirements and costs by eliminating unnecessary records </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensuring the preservation and accessibility of relevant records to satisfy specific operating needs and in the event of potential or actual litigation
or internal or external (including governmental) investigation </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensuring they preserve relevant data and documents and comply with any further instructions or directions when they are notified of actual or impending
litigation or are subject to a legal hold and/or are involved in a regulatory investigation. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Bell&#146;s business and operational units are responsible for identifying records produced by their departments and
attributing a retention period to such records based on the applicable retention periods (if any) found in the Record Retention Schedule. Records that are not subject to a specific retention period shall be destroyed as per the directives contained
in the Information Classification and Records Management Policy. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.12.1&nbsp;&nbsp; Preservation of records
under legal hold </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Records subject to preservation under a &#147;legal hold&#148; must not be disposed of
until the hold is lifted. Where a &#147;legal hold&#148; is in place, all owners of records that are subject to it must take positive steps to ensure the preservation of such records. Those record owners must also, prior to taking any steps that
might affect the disposal of such records, such as re-imaging their computers or being &#147;evergreened&#148; to a new device, contact the Legal Department (ediscovery.legal@bell.ca) to verify whether they can dispose of the records. Any employee
unsure whether records are subject to a legal hold or unsure of the hold&#146;s scope should contact the legal team at ediscovery.legal@bell.ca to verify. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">When an employee, who owns records that are subject to a legal hold leaves Bell, the employee&#146;s manager and Human Resources Consultant must ensure that these records are preserved. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For the complete policy and important restrictions, see the Information Classification and Records Management Policy and
Records Retention Schedule (which provides minimum periods of record retention and destruction schedules) available on the Corporate Policies&nbsp;&amp; Ethics Program intranet site and for the instructions about storing, retrieving or deleting
paper records, see the Records Management section available on the Corporate Security intranet site. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>15</B></FONT></TD></TR></TABLE>


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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.12.2&nbsp;&nbsp; Confidential Information
</I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">It is essential that we safeguard Company records and information (in any format) that contain confidential
information.&nbsp;This can include information entrusted to the Company by a third party, which must be handled according to instructions provided by the information owner. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Unauthorized disclosure, transmission, misappropriation or misuse of confidential information can have serious consequences
for the Company. Such disclosure is strictly prohibited and should be reported immediately.&nbsp;Using this information for purposes other than furthering the Company&#146;s best interests is not only unethical, it may be illegal if it involves the
disclosure of material non-public information.&nbsp;Using any confidential or for &#147;internal use &#148; information about the Company for personal purposes, or failing to safeguard such information, is strictly prohibited. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Confidential information is information about our business that is not publicly available and includes any information
classified as Internal Use or Confidential, as well as any information that has not been classified. Some examples of information which must be safeguarded from disclosure include: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">products and services </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">marketing strategies, pricing, bids and proposals </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">rate applications </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">information about new technology </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">business plans </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">customer records </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">human resources information </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">major reorganization plans </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">internal audit reports and significant corporate security matters </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">training material </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">passwords and encryption keys </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">licenced computer software programs (even routine programs) </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">legal proceedings </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">undisclosed financial results </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">To protect confidential information, whether originated by or entrusted to the Company, we must: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">classify and label records with the appropriate security classification:<B> Confidential, For Internal Use or Public. </B>For further information, see
the Information Classification and Records Management policy </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensure that confidential information is stored and transmitted securely per the policy. </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">avoid unauthorized disclosure of confidential information by checking that computer terminals, telephones and faxes are secure. Do not store
confidential information on laptops, PDAs, etc. outside of secure company premises without appropriate protection/encryption. </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">avoid discussion of such information in public places (including by phone in taxis, trains and airplanes), with family members or friends who might
pass the information on to others deliberately or unintentionally, or with business colleagues when our conversations might be overheard. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><I>2.12.3&nbsp;&nbsp; Post employment obligations </I></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Your obligation to protect Bell&#146;s confidential information continues after one&#146;s employment with Bell has terminated. Upon termination of
employment or contract, or reassignment all confidential information and documents, including electronic records, and all third party information entrusted to Bell must be returned and you must not disclose any such information. This continuing
obligation is particularly important in the case of a departing employee who subsequently works for one of Bell&#146;s competitors. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>16</B></FONT></TD></TR></TABLE>


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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>How do I tell if a document (paper or electronic) is confidential if it is not marked as such?</B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should begin by asking the person who issued the document (if known), as the originator is the person who must determine the security classification. If you
can&#146;t find the source of the information and the nature of the document does not make the classification obvious (such as information that has been made public), the document should be treated as Confidential until the proper classification is
determined.</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The unauthorized disclosure of, or known failures in safeguards which protect, Confidential
information is to be reported to Bell&#146;s National Incident Center (NIC) at 1-866-714-0911 or cni-nic@bell.ca. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.13.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Dealing with Customers and Suppliers </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">We achieve an ongoing competitive advantage by ensuring that our reputation for quality, service and integrity remains intact. Compete fairly but vigorously while complying with our legal and ethical
obligations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.13.1&nbsp;&nbsp; Customer Relations </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Customers and customer service are at the core of our business. To succeed, we have to be honest, courteous, and respectful
when dealing with our customers and their property whether visiting their home or place of business. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Our
customers expect us to provide quality products and services, and be truthful when discussing our advantages and benefits. To maintain that trust we should: </FONT></P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">offer customers only those services which we are legally allowed to provide and that they want or need </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">promote our products and services accurately even when upselling </FONT></P></TD></TR></TABLE>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">give customers the straight facts about their competitive choices </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">guide customers into asking the right questions about their competitive options </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">convince customers it&#146;s to their advantage to stay with-Bell &#150; or come back from another carrier </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">don&#146;t offer to waive charges, cut special deals or grant discounts that are not authorized. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.13.2&nbsp;&nbsp; Supplier Relations - Reciprocity </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Like many corporations, we purchase goods and services from thousands of suppliers, many of whom are also our customers.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">While we quite naturally want to do business with our customers, and will take advantage of every opportunity to
do so, we must keep in mind that this should not be done at the expense of price, quality and service. These criteria, rather than the simple fact a supplier is or is not our customer, should guide our purchasing decisions. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Reciprocity is an arrangement where a purchaser gives business to a supplier because that supplier is its customer for other
products, in preference to another supplier. Reciprocity, whether it originates with the buyer or the seller, should be handled with utmost care for a number of financial, ethical and legal reasons. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For example, we may lose the opportunity to save money on our purchases if we choose suppliers solely because they are Bell
customers and we may be accused of anti-competitive behaviour. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>17</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Under certain circumstances, we may, for
strategic marketing reasons, develop and contract services exclusively with a given supplier. The Law Department must be consulted before such arrangements are established. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="2%"></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Our department is organizing a meeting at a hotel. Due to the large size of our group, and the fact we don&#146;t want
to travel far, we&#146;ve chosen a nearby hotel serviced by a competitor&#146;s long distance network. Is this okay, or should we find a hotel that uses Bell long distance?</B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:3.00em; text-indent:-1.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;It is not Bell policy to prohibit employees on Company business from dealing with organizations that do not use Bell&#146;s services. While we actively encourage everyone at Bell to do business
with our customers, we must ensure that this is not done at the expense of price, quality and service</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:3.00em; text-indent:-1.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;Although the hotel you&#146;ve chosen
is not a Bell customer, you were right to choose it if, in your judgment, it best meets the price-quality-service criteria you are looking for: the hotel is located close to your office, it can easily accommodate all the members of your department
and, as a result, will enable your group to save both time and traveling expenses.</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.14.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Dealing with Competitors </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><I>2.14.1&nbsp;&nbsp; Treating Competitors with Respect </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We welcome
and encourage fair and open competition and we are committed to treating competitors with due respect. By doing so, we honour the competitive spirit that motivates us to perform at our best. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Behaving competitively means that we: </FONT></P>
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<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">do not portray a competitor to the public or to a customer in an inaccurate, misleading, disparaging or unfair manner or in a way contrary to laws that
govern competitive business practices </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">do not state as a fact our understanding of a competitor&#146;s price information as that information may be out of date and incomplete
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">exercise care when commenting publicly on such topics as a competitor&#146;s financial situation, business practices, management or network
reliability, or foreign ownership </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">do not behave disrespectfully toward a customer who has decided to purchase a competitor&#146;s products or services; rather we rigorously promote and
provide high-quality service for any other product we may supply to this customer. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.14.2&nbsp;&nbsp; Obtaining Information about our Competitors </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We have every right to gather information about the marketplace in which we operate through legal and ethical means. This
includes information about our competitors, their products and services, technology, prices, advertising, and so on. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><B>However, we do not engage in industrial espionage; buy proprietary information or induce employees or former employees of our competitors to disclose proprietary or confidential information of his/her
current or former employer.</B> That person has an obligation to protect his current or former company&#146;s confidential or proprietary information, just as you would be obliged to protect Bell&#146;s confidential or proprietary information if you
were to leave the Company. It is essential that former employees of competitors do not disclose to anyone their previous employer&#146;s confidential information. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Similarly, if you become aware that confidential or proprietary information about a competitor is circulating through the
company, you must not <U>use</U> such confidential or proprietary information and must immediately report it to your manager or other person (see section 2.1.3). </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TR>
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<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>18</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Our business unit recently hired someone who was employed with one of our competitors. This person has confidential
information which would be very valuable to us. Can we ask him to disclose this confidential information?</B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:3.00em; text-indent:-1.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;Absolutely not. The new employee has an
obligation to protect his former company&#146;s confidential or proprietary information, just as you would be obliged to protect Bell&#146;s confidential or proprietary information if you were to leave the Company. You must respect the
employee&#146;s personal integrity as well as his obligation to his former employer. Inducing an employee to disclose such confidential information is a violation of the Code</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>And If you become aware that this
person is disclosing a competitor&#146;s confidential information to Bell employees, should you report it?</B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:3.00em; text-indent:-1.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;Yes you must report this fact to your
immediate supervisor or through the Business Conduct Help Line at https://www.clearviewconnects.com/ or by calling 1-866-298-2942 &#150; and you must not use such confidential information.</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:3.00em; text-indent:-1.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;Bell&#146;s reputation could be
significantly harmed by such disclosure and taking immediate steps to contain the confidential information is critical. Failure to report is a violation of the Code</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT
SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.14.3&nbsp;&nbsp; Agreements with Competitors </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In many cases, agreements between competitors that restrict i) the price at which competitors can sell their products or
services to customers, ii) the customers to whom competitors can sell, or iii) quantities that competitors will produce or market, are criminal offences and thus prohibited. To be clear, this prohibition does not address cases where two competitors
are simply entering into an agreement as buyer and seller of each other, as is for instance common in our wholesale division. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">The law provides certain exceptions and we may, for strategic reasons, sometimes take advantage of these exceptions and enter into specific agreements with competitors. For instance, the rules allow, under
certain conditions, the submission of joint bids with competitors in response to requests for proposal, something which otherwise would appear to be a prohibited agreement on price. The Regulatory/Law Department must be consulted before arrangements
with competitors are established. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.14.4&nbsp;&nbsp; When a Competitor is a Customer </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">When providing competitors with network facilities, access or other services we cannot use information obtained as a result
of that process in any manner which would give us an undue competitive advantage. This includes ensuring that this information is not made available to those within the Company or its affiliates who develop competitive service strategies. It also
means that we must not disclose a customer&#146;s choice of competitive carrier to anyone who does not clearly require the information to provide service to the customer. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.15.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Safeguarding Company Assets </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.1&nbsp;&nbsp;</I></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>Overview </I></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">We all have a responsibility to be accountable for and safeguard Company assets from loss, damage, theft, vandalism, sabotage or unauthorized use, copying, disclosure or disposal. The improper use and/or
reporting of assets could seriously undermine the Company&#146;s integrity, adversely affect our business strategies and decisions and weaken investor confidence. It could also constitute a criminal offence. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>19</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Company&#146;s assets include but are not
limited to, offices and office equipment, computers, art, telephone and video equipment, vehicles, tools, materials, buildings, people, property, information, funds, communication networks, information systems, and intellectual property. The vehicle
related policy and practice can be found on the Corporate Services intranet site and covers both the use of Company-owned vehicles and the use of Employee&#146;s vehicle for Company purposes. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Access to and use of these assets must be authorized, adequately controlled and based on business needs. We should not use
Company assets for personal purposes, except where this use has been authorized by your leader. Each of us must also take appropriate measures to prevent losses due to wilful action by others, both outside and within the Company, which may result in
personal injury, property damage, theft, loss, abuse or unauthorized access to physical or logical assets, and intellectual property (including data). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">To best safeguard the tools and equipment used as part of their functions, employees can consult the Bell Security Charter and Corporate Security policies, available on the Corporate Policies&nbsp;&amp;
Ethics Program intranet site. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Loss or theft of company assets, property damage and malfunctioning doors and
locks are to be reported to Bell&#146;s National Incident Center (NIC) at 1-866-714-0911 or at cni-nic@bell.ca. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.2&nbsp;&nbsp; Corporate Credit Cards and Company Funds </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We are personally responsible for funds, cash, cheques, postage, etc., over which we have control. <B>Corporate credit cards
are not to be used for personal cash withdrawals or purchases and other charge cards are to be used only for business purposes. We must also ensure that all expense vouchers, benefit claims and invoices are accurate and properly authorized.</B>
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Corporate policy regarding the use of corporate credit cards and corporate travel is detailed on the Travel and
Expense Management intranet site. We should, whenever possible, use the services of suppliers with whom Bell has negotiated agreements (e.g. travel agents, car-rental agencies, taxi companies, hotels). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.3&nbsp;&nbsp; Hiring Consultants or Contractors </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Hiring of contractors or consultants must follow the rules as outlined on the Contractors and Consultants Procurement
intranet site and hiring of external resources must also comply with Personnel Security Policy available on the Corporate Policies&nbsp;&amp; Ethics Program intranet site. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.4&nbsp;&nbsp; Electronic Procurement and Electronic Processing of Expense Reports </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Company electronically processes much of its procurement needs <B><I>including </I></B>employee expense reports and
accounting for corporate credit card payments. <B><I>All employee expense reports and credit card payments must be approved by a Tier one level above the employee submitting the reports.</I></B> </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employees are expected to safeguard Company assets and comply with Company policies, including the Policy on Authorizations
and the Company&#146;s policies on travel and credit card usage. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Policy on Authorizations is available at
Corporate Policies&nbsp;&amp; Ethics Program intranet site. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.5&nbsp;&nbsp; Business Books and Records
</I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Company&#146;s books and records contain information essential to effective and efficient operations.
They form the basis upon which key decisions about the Company are made by our executives, financial analysts, shareholders, investors, and regulators. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>20</B></FONT></TD></TR></TABLE>


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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Because they are so crucial to the Company
meeting its legal, regulatory and financial obligations, we must ensure that all documents, reports, plans and records falling under our responsibility are accurate and complete. We must also ensure that all transactions are properly authorized.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In preparing and maintaining our books and records, we must: </FONT></P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">adhere to all accepted accounting standards and practices, rules, regulations and controls applicable to us </FONT></P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensure that all entries are recorded accurately, on time, in the proper accounts, and are properly documented </FONT></P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">record all funds, assets and transactions; we may not establish any undisclosed or unrecorded fund or assets for any purpose
</FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">keep books and records which reflect fairly, accurately and in reasonable detail the Company&#146;s transactions, acquisitions and disposal of assets
and other relevant activities </FONT></P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">sign only those documents we believe to be accurate and truthful </FONT></P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">restrict access to sensitive or confidential information (such as financial records and customer information) to ensure the information is not
accidentally or intentionally disclosed, modified, misused or destroyed </FONT></P></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">maintain internal control processes to ensure that the Company meets its book and record keeping obligations. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.6&nbsp;&nbsp; Standard Contracts and Agreements </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Contracts and agreements represent some of the greatest exposures faced by the Company. If you are in a position to develop
or sign contracts you must take necessary steps to protect the interests of the Company by ensuring that only Bell standard form template contracts are used and that the contract is reviewed by appropriate departments such as, Legal, Regulatory,
Corporate Security, Corporate Responsibility&nbsp;&amp; Environment, Risk Advisory Services and Insurance. <B>Standard contracts must not be modified without prior Law Department approval.</B> </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.7&nbsp;&nbsp; IS/IT and Network Security </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Computers and computer networks form the backbone of our telecommunications network and operations infrastructure. For this
reason, every effort must be made to protect the Company&#146;s computer systems and associated software from the various threats to their security, such as accidental or deliberate destruction of data and equipment, interruption of service,
disclosure of confidential information, theft and corruption. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">To maintain security: </FONT></P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">access to computer systems should only be granted to authorized users </FONT></P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">users are accountable for use of computer systems and access codes and passwords must be kept confidential </FONT></P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">the use of the Company&#146;s computer system or network for personal use or other non-Company purposes is prohibited unless specifically authorized by
the Company or a manager in direct line of authority </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">follow Company rules regarding the purchase and use of computer software </FONT></P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">guard against computer viruses that may damage the Company&#146;s computer systems </FONT></P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">report any breach of computer security, policies and standards. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For further information on information security, malicious software, and other policies and directives relevant to securing
your computers, contact Corporate Security or visit the Corporate Security intranet site. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Computer security
incidents, Virus, worms, spam or phishing using Bell&#146;s name, any other computer or data network attacks, weaknesses in security systems, and unexplained systems changes are to be reported to Bell Canada intranet site helpdesk or the Bell
Customer Service Desk at 1-888-920-8888. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>21</B></FONT></TD></TR></TABLE>


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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.8&nbsp;&nbsp; Personal Use of
Company-Provided Internet Access and Other IT Resources </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Access to the Internet is primarily provided for
business purposes. However, accommodating employees&#146; development and awareness through personal use of Company-provided Internet access is also encouraged. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Personal use of the Internet and e-mail must be reasonable, i.e. it must not impede or reduce an employee&#146;s ability to
perform his/her duties, diminish productivity or effectiveness at work or negatively impact the Company in any way. Abuse of Company-provided Internet or e-mail may result in disciplinary action. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The law strictly prohibits the use of software on unlicensed computers. You must verify and respect the manufacturer&#146;s
conditions of license or agreement under which the software was acquired. Copying software onto your computer may be a violation of the software company&#146;s licensing agreement as well as copyright laws, and placing the Company at risk of
prosecution for copyright infringement. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>I&#146;m attending an important sales meeting next week and I have to prepare a presentation using slides and fairly
complicated charts. My friend has the software I need to put the presentation together, and he&#146;s offered to lend me his diskettes so I can install the program on my computer. Can I go ahead?</B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px" align="left">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:3.00em; text-indent:-1.00em" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS">&#070;</FONT>&nbsp;&nbsp;No.&nbsp;&nbsp;The law strictly prohibits the use of software on unlicensed computers. By copying your colleague&#146;s software into your computer, you may be breaking the software
company&#146;s licensing agreement as well as copyright laws, and placing the Company at risk of prosecution for copyright infringement. You should speak to your group&#146;s computer administrator to discuss your computer needs.</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For further details, the Acceptable Use of IT Resources Policy is available on the Corporate
Policies&nbsp;&amp; Ethics Program intranet site. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.15.9&nbsp;&nbsp; Visible ID </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">All employees, consultants and contractors must wear a valid, designated ID card at all times while on Company premises.
Visitors must wear a valid, designated visitor&#146;s card while on Company premises and employees should challenge anyone on Company premises not wearing one. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.16.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Social Networking </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Social networking sites like Facebook, LinkedIn, Twitter and YouTube have all become increasingly effective channels for Bell to strengthen our brand and our connection with customers and the public. All
team members are required to follow Bell&#146;s Social Media Guidelines (available from the Corporate Policies and Ethics Program intranet site) to ensure we can maximize the value of social media while upholding the reputation of Bell and our team.
All team members are required to respect the principles and values outlined in the Bell Code of Business Conduct while navigating through the social media world. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">As a general rule, always remember that you are responsible for what you say or post online. Facebook, LinkedIn, Twitter and other websites are public
so never assume that anything you say or post is private. </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">If you participate in social media sites, it is important to recognize that, unless you have prior approval through the Social Media team, you are not
authorized to speak on behalf of Bell and its related subsidiaries. Rather, you are expressing your personal views and should not give the appearance that you are a company spokesperson. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>22</B></FONT></TD></TR></TABLE>


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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">If you are not already authorized to speak on Bell&#146;s behalf and believe it is a necessary part of your role, please email social.info@bell.ca. The
Social Media team will coordinate all requests for approval with Bell&#146;s executive leadership team. </FONT></P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Protecting confidential information</B>: Whether you are posting as an approved Bell spokesperson or for personal reasons, you can only disclose
information that is in the public domain. You may not post any comment that would include confidential information concerning our customers, suppliers or team members. </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Respect the reputation of our company and team members</B>: Misleading, disparaging or untruthful comments about our company, products, services or
team members can seriously undermine our brand and ability to support customers. Do not post comments or participate in online campaigns that could potentially jeopardize our reputation. Speak respectfully about all members of your team, including
your superiors. </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">As with any company policy, violations may be serious and require a disciplinary response, up to and including termination of employment.
</FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Correcting negative or inaccurate comments about Bell</B>: If you see an inaccurate post about a Bell product or service on Facebook, Twitter or
another social forum, please send an email to social.info@bell.ca. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Questions</B>: If you
have any questions regarding these Guidelines or Bell&#146;s Internet Use Policy, please email corporate.secretariat@bell.ca or call the Business Conduct Help Line at 1-866-298-2942. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">A complete copy of the Bell&#146;s Social Media Guidelines is available from the Corporate Policies and Ethics Program
intranet site. Additional related corporate policies, such as Bell&#146;s Internet and Email Policy and Bell Media&#146;s Social Media Policy for CTV News and on-air talent are available from the Corporate Policies and Ethics Program intranet site.
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.17.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Intellectual Property </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><I>2.17.1&nbsp;&nbsp; Overview </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Intellectual property such as
patents, copyrights, trade-marks, domain names, inventions, integrated circuit topographies, industrial designs, trade secrets and confidential information are strategic assets of the Company and must not be disclosed to or used by third parties
without first ensuring that appropriate legal safeguards are in place. Failure to do so could result in the Company losing its right in a trade secret or patent. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Intellectual property rights also reside in and protect know-how, business methods and processes, computer software,
computer operating systems, written materials (including paper or electronic form), inventions, graphics, photographs and audiovisual works, whether developed internally within the Company or obtained from third parties. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In addition to protecting the Company&#146;s intellectual property, we also have a responsibility to avoid infringing third
party intellectual property rights, as detailed in the intellectual Property Policy referred to below. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Trade-marks, including the Company&#146;s logo and its various trade names, are among the Company&#146;s most valuable
assets. Every employee has a responsibility to preserve, protect and enhance the value of these assets. You should immediately report any infringement or misuse of such trade-marks or trade names to the <B>Branding and Identity Hot Line</B> via
http://www.brand.bell.ca/en or by calling <B>(514)&nbsp;870-2347 </B>or by sending an email to info.branding@bell.ca. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><I>2.17.2&nbsp;&nbsp; Ownership of Intellectual Property Developed While Working for the Company </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">All intellectual property conceived or made during or after working hours in the course of our employment with the Company or which are within the scope of the Company&#146;s business interests, are rightly
the exclusive property of the Company. </FONT></P>
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<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>23</B></FONT></TD></TR></TABLE>


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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employees are prohibited from applying for
patents or other intellectual property registrations in regards to intellectual property that belongs to the Company, nor can the Company&#146;s intellectual property be used for personal purposes or gain. We must fully disclose to the Company all
intellectual property that we conceived or created during or after working hours in the course of our employment with the Company or which is within the scope of the Company&#146;s business interests. Each employee thereby assigns all rights in and
to all such intellectual property or inventions, including rights under the <I>Copyright Act</I> (to the extent such intellectual property rights are not automatically owned by the Company pursuant to applicable law), in their entirety, without
limitation to the Company or BCE Inc. upon their connection or creation by each employee. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In the event the
Company decides to use, sell, license or otherwise commercially exploit any of its intellectual property assets or to apply for protection, registration or enforcement of such rights, we would be expected to co-operate in the preparation and
execution of any related documentation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Upon termination of employment or contract, or reassignment, we must
return all tangible and intangible property of the Company or entrusted to the Company still in our possession or custody (including any intellectual property assets). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.17.3&nbsp;&nbsp; Developing Patents and Other IP </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">You may apply to be released from your obligation to assign specific intellectual property rights to the Company. Each case
will be examined on its own merit by the Legal Department. To avoid misunderstandings, some employees working in certain positions may be required to sign a formal Assignment of Rights Agreement as a reminder of their obligations pursuant to this
Code and other policies of the Company. Failure to do so, however, does not relieve you of the obligations towards the Company pursuant to this Code and other applicable policies. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For additional information, please consult the Intellectual Property Policy intranet site. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.18.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>A Work Environment Based on Trust and Mutual Respect </B></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.1&nbsp;&nbsp; Overview </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Nothing is more basic to ethical behaviour than trust and respect. Upholding these values enables us to build and cultivate more meaningful, richer relationships with fellow employees, customers, suppliers
and shareholders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We are committed to fostering a workplace which encourages open and honest communication,
recognizes the intrinsic dignity and worth of all employees and values the diversity of employees, customers, suppliers and shareholders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.2&nbsp;&nbsp; Diversity and Employment Equity </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Diversity is
defined as an unwavering respect for each other&#146;s uniqueness, including, but not limited to: culture, ethnicity, gender, age, religion, disability, sexual orientation, education and experiences. By valuing our differences, we can create an
inclusive work environment based on merit and fairness where all employees can contribute to their fullest potential. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Employment Equity is an important aspect of our diversity strategy. While diversity encompasses many different factors that make each of us unique, legislated employment equity programs focus on four
designated groups: women, visible minorities, Aboriginal Peoples and persons with disabilities. The Company is required to comply with employment equity legislation through workforce practices free of barriers to recruiting, retaining and promoting
members of these designated groups. Employment Equity is not about hiring unqualified individuals but rather to ensure that the qualified members of the designated groups are given equal employment opportunities. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>24</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employment equity and diversity also makes
business sense. A diverse workforce brings Bell closer to its customers. By becoming the supplier of choice to a diverse customer base and the employer of choice to our current and future employees, we further improve Bell&#146;s chances of success.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Promotion of self identification through our online employment equity and diversity questionnaire allows the
Company to have an accurate assessment of representation within the four groups and allows for appropriate strategies and action plans to be developed in order to address any gaps. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The information collected in the employment equity and diversity questionnaire is confidential. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In addition Diversity training (CDC course L744) and &#147;Respect in the Workplace&#148; (CDC courses D223 and D224)
training are available to help support an inclusive work environment. Information is available at the following link: Diversity and Human Rights. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.3&nbsp;&nbsp; Discrimination and Harassment </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We provide a
workplace free of any type of personal harassment, including sexual harassment, intimidation and violence and are committed to an environment in which all workers can work safely. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We prohibit all types of unlawful discrimination, including harassment, whether directed against an individual or group,
including employees, customers, suppliers and shareholders. <B>This specifically includes discrimination based on race, national or ethnic origin, color, religion, age, sex (including pregnancy or childbirth), sexual orientation, marital status,
family status, physical or mental disability, conviction for which a pardon has been granted. </B>Though the spirit of the law is the same, some of the grounds for discrimination may slightly differ for companies that are subject to provincial
legislation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Harassment is defined as vexatious behaviour that is repetitive and hostile or unwanted that
degrades, humiliates, embarrasses, affects or insults an employee&#146;s dignity or integrity and that results in a harmful work environment for the employee. It may include: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">threats, intimidation and/or verbal abuse, unwelcome remarks or jokes </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">unnecessary physical contact, such as touching, patting, pinching or punching </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">displaying sexist, racist or other offensive pictures, posters, e-mails or screen displays </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">any other action that may reasonably be perceived as offensive or degrading. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Sexual harassment includes offensive or humiliating behaviour that is related to a person&#146;s sex, as well as behaviour
of a sexual nature that creates an intimidating, unwelcome, hostile or offensive work environment, or that could reasonably be thought to put sexual conditions on a person&#146;s job or employment opportunities. A few examples are: </FONT></P>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">questions and discussions about a person&#146;s sexual life </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">commenting on someone&#146;s sexual attractiveness or unattractiveness </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">displaying posters, calendars and/or screen displays of a sexual nature </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">writing notes, letters or e-mails of a sexually suggestive nature. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">An employee who believes that he or she is being unlawfully discriminated against should tell the person to stop
immediately. If there is imminent danger the matter should be reported to the police and/or emergency services as appropriate (dial <B>9-1-1</B>) and then to Corporate Security (dial 1-<B>866 -714 -0911)</B>: If the behaviour or action persists, the
employee should report the matter to his or her manager or to a more senior manager in the organization. Unionized employees may elect to contact their union representative; management employees may consult with their Human Resources representative.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.4&nbsp;&nbsp; Reasonable Accommodation </I></FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="48%"></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>25</B></FONT></TD></TR></TABLE>


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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Accommodation is a part of a broader principle -
that our society should be structured and designed for inclusiveness. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">An accommodation is considered reasonable
if it does not result in undue hardship, such as: significant impact on business operations, or risk to the health and safety of the employee concerned or any other person. Examples of accommodation can include physical or technical alterations to
an employee&#146;s workspace (work station height, non-standard computer monitor, telephone with amplifier or headset) and modification of work duties or conditions. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.5&nbsp;&nbsp; Health and Safety Policy </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Bell regards health and safety as a corporate priority. Bell will ensure that effective policies and practices are in place
to protect the health and safety of its employees, contractors, customers and the public. Reflecting the value Bell attaches to health and safety, this policy statement outlines the company&#146;s commitment and how it will be met. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Where employees are concerned, Bell expects each person to take personal responsibility for their health and safety by
working safely at all times. To this end, Bell will: </FONT></P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">provide a healthy and safe work environment to reduce the risk of illness or injury; </FONT></P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">meet or exceed all health and safety legal requirements; </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">provide proper supervision, training and equipment; and </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">work with the joint union/management Health and Safety Committees to resolve issues at that level. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Mindful of the safety of its contractors, customers and the public, Bell will also: </FONT></P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensure business decisions made at all levels of the organization take into account the Company&#146;s health and safety commitments;
</FONT></P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">cooperate with the government and various other organizations on health and safety matters; and </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensure that all contractors, sub-contractors and third parties that have been granted the right to access Bell sites have received training on health
and safety matters pertaining to their job, use the proper equipment and follow the proper procedures. Bell will also ensure that they follow all legal and contractual guidelines as outlined in their contracts and will monitor them accordingly.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For additional information on occupational health and safety policies, programs, procedures,
and legislation (Canada&nbsp;Labour Code Part II and the Health and Safety regulations) consult the Human Resources intranet site at the following link: Health, Safety and Wellness. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.6&nbsp;&nbsp; Corporate Security - Emergency Management </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employees may encounter various emergency situations that can directly affect them or the Company.&nbsp;To this end, the
Company is committed to a level of preparedness and planning that is designed to &#147;protect life and property&#148; and to ensure a rapid return to providing service to our customers. Through the development and implementation of the Emergency
Response directive and associated procedures, employees and business units will be ready to respond during emergencies. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">In the event of a life-threatening emergency begin by calling 9-1-1 (or local emergency service). All emergencies and emergency conditions including unplanned evacuations, or potentially service impacting
situations in proximity to company critical facilities are to be reported to Bell&#146;s National Incident Centre (NIC) at 1-866-714-0911 or cni-nic@bell.ca. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Evidence of serious criminal activity such as evidence of child pornography or terrorism, found on Bell or customer premises or systems, are to be reported to Bell&#146;s National Incident Center (NIC) at
1-866-714-0911, unless involving an imminent threat where 911 must be called. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>26</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Significant facility or utility interruptions,
surveillance, control systems or any service failures that impact the telecommunication network are to be reported to 1-888-570-1091. For information on Bell&#146;s Emergency Management Directive, and procedures, consult the Corporate Security
intranet site. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.7&nbsp;&nbsp; Alcohol, Drugs and Other Substances </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We are required to be fit at all times to perform all assigned duties. While at work, we must not be impaired by the use of
alcohol, medication, or illicit drugs. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The use, sale, unlawful possession, manufacture or distribution of
alcohol and illicit drugs or non-prescribed medications for which a prescription is legally required, whether on Company work premises or other work locations, is strictly prohibited. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employees have the responsibility to determine any potential adverse effects when using prescribed or over-the-counter
medications with the assistance of their doctor or pharmacist. Intentional misuse of prescribed or over-the-counter medications is strictly prohibited. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">For further information consult the Alcohol and Drug Policy on the Human Resources intranet site at: link: Health, Safety and Wellness. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.8&nbsp;&nbsp; Involvement in a Legal Matter </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">If you are involved in a legal matter or police case you must immediately inform your manager if this involvement has the
potential to affect your ability to perform your job fully and competently. Loss of a driver&#146;s license, for example, must be reported immediately if the affected employee is required to drive a Company vehicle. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.18.9&nbsp;&nbsp; Workplace Violence Prevention </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">We all have a right to work in an environment free from violence and threats. The Company prohibits all acts of physical,
verbal or written aggression or violence. This applies whether the aggression is committed by one employee against another, or against anyone else an employee comes in contact with when carrying out his or her responsibilities. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">It&#146;s up to each employee to report any act, or threatened act, of violence to a manager or to Corporate Security. In
situations of imminent danger call the police or local emergency services and then Corporate Security. If the danger seems less imminent, take note of the facts: Who was involved? Where and when did the incident take place? Were there any witnesses?
Then report the incident to Corporate Security. Corrective action will ensue as required. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Bell promotes a
&#147;zero tolerance&#148; approach under which violence of any kind is not tolerated and may result in disciplinary measures up to and including termination for just cause. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Bell&#146;s policy Preventing Violence in the Workplace is available on the Human Resources intranet site. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>2.19.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Protecting the Environment </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2"><I>2.19.1&nbsp;&nbsp; Overview </I></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Company believes that
environmental protection is an integral part of doing business and is committed to minimizing, through a continuous improvement process, the impact that some of its activities, products or services may have on the environment. It is also every
employee&#146;s responsibility to comply with our policies. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In support of this commitment, we will: </FONT></P>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">exercise due diligence to meet or exceed the requirements of all applicable legislation and other requirements to which it subscribes
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
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<p Style='page-break-before:always'>
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 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">prevent, control and reduce releases into the environment and correct in a timely manner problem situations which could not be prevented
</FONT></P></TD></TR></TABLE>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">promote and support cost-effective resource and waste minimization initiatives </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">deal with suppliers who seek to minimize their environmental impacts </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">develop and market telecommunications services providing people and organizations with innovative solutions that take into account their environmental
challenges </FONT></P></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">participate with governments, businesses, the public and relevant interest groups to advance environmental protection </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">communicate its environmental initiatives and performance to stakeholders on a regular basis </FONT></P></TD></TR></TABLE>
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<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">ensure that employees adhere to this policy and understand their responsibilities in putting it into practice. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.19.2&nbsp;&nbsp; Managing Environmental Risks and Opportunities </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">As per the Company&#146;s Environmental Policy, it is every employee&#146;s responsibility to make environment an integral
part of his daily decisions and actions. Whether it is through the company&#146;s operations, through the provisioning of services to our clients, through commercial agreements linking the Company to third parties, or through execution of daily
administrative functions, environmental aspects must be diligently addressed. This approach allows us to limit our liabilities, to reduce operational costs and to contribute to improving the company&#146;s reputation by exercising a leading position
on issues that are increasingly important to the general public. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Corporate Responsibility&nbsp;&amp;
Environment (CR&amp;E) group has developed a series of policies, programs, procedures and guidelines to support employees in their environmental duties. These documents are available through your Enviro-web intranet site. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.19.3&nbsp;&nbsp; Environmental Training </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Environmental training is mandatory for all employees directly involved in managing one of the following environmental
issues: Incidents, manhole effluents, network impacts, residual materials (hazardous and non hazardous), treated wood poles, petroleum products or ozone depleting substances. Training must be completed before the employee is assigned to its
operational duties. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The training is available either face-to-face or on-line, depending on the employee&#146;s
organizational group and access to on-line training. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">You can contact the Enviro-Line to know the name of your
environmental coordinator, who will inform you on required training based on your job responsibilities: enviroline@bell.ca or telephone: 1-877-235-5368. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">The on-line training site is available at the following address: </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">https://formation.enviro.int.bell.ca/. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><I>2.19.4&nbsp;&nbsp; Reporting Environmental Incidents </I></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">An environmental incident is an unforeseen situation that can have a negative impact on the environment and may need to be
reported to the government authorities. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Whether it is a small spill or leak, a fire in a hazardous material
recovery warehouse or a customer complaint such as relating to noise, contaminated property resulting from Bell operations etc., employees must report all environmental incidents no matter what type, cause or seriousness. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Corporate Responsibility and Environment group must be immediately notified of all environmental incidents involving the
company, whether or not they are an emergency and regardless of where they occur. A member of the team will provide employees with the </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TR>
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>28</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">
necessary guidance and will ensure reporting to governmental authorities as required. T<B>he Enviro-Line at 1-877-235-5368 can be reached 24 hrs per day</B>. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">For inquiries, support, or to raise concerns with environmental issues, please contact your CR&amp;E group via Enviro-Line
(1-877-235-5368) or enviroline@bell.ca. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>29</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>3.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>ROLES AND RESPONSIBILITIES </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.1.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Annual Review </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">All employees are expected to review the Code at least once a year and certify that they have done so by signing form BC3684, &#147;Code of Business Conduct/Annual Record of Review&#148; (attachment 2A).
This form is kept in every employee&#146;s personnel file. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Members of the Board of Directors of Bell Canada and BCE Inc., as
well as all executives, are expected to certify each year that they have reviewed, understand and comply with the Code (attachment 1A). </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.2.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Reporting Conflicts of Interest </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">If there is an actual or potential conflict of interest, employees must also complete form BC3684(A), &#147;<I>Disclosure of a Conflict of Interest or Potential Conflict of Interest&#148;</I> and forward it
to the Corporate Secretary&#146;s Office at corporate.secretariat@bell.ca. Form 3684(A) is found at attachment 2B and is also available on the Human Resources intranet site Your&nbsp;Workplace; Your Workplace Values at address:
http://rhr.int.bell.ca/ </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.3.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Business Unit Responsibility </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Managers are required to ensure that all employees have access to the Code either on-line or in a paper format if required, and that they know, understand and comply with its provisions. To this end, they
should ensure that all employees review the <B>Code annually and comply with the annual review process outlined </B>above. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.4.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Board of Directors, Corporate Governance Committee and the Audit Committee </B></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Board of Directors, with the recommendation of the Corporate Governance Committee, has the authority to approve this policy. In
addition, the Corporate Secretary&#146;s Office in conjunction with Internal Audit, report quarterly to the Audit Committee on the number and scope of issues brought via the Business Conduct Help Line. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>3.5.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Corporate Secretary&#146;s Office </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">The Corporate Secretary&#146;s Office has the responsibility of administering the Code and managing the Business Conduct Help Line, securing annual certification of all executives and members of the Board of
Directors under the Code, addressing conflict of interest issues and ensuring compliance by all Business Units. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>30</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>4.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>APPENDICES </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>4.1.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Supporting procedures </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">The Code of Business Conduct annual review is included in the annual performance process. These procedures are located in the Career&nbsp;&amp; Development Centre intranet site under Objective Performance.
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>4.2.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Reference to Attachments </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="88%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="78%"></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Attachment
1A</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Certification
of the Members of the Boards of Directors of BCE Inc. and Bell&nbsp;Canada and executives under the Code of Business Conduct;</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Attachment
2A</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Form BC 3684
&#150; Employee Annual Record of Review</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Attachment
2B</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Form BC 3684A
&#150; Disclosure of Conflict of Interest or Potential Conflict of Interest</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Attachment
3</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Additional
Resources</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">General
Circulars<BR>(GC)</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">General
Circulars provide detail for adherence to Bell policies, standards and procedures. They can be ordered through Xerox by faxing your request to 1-418-692-0011</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT
SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Bell Privacy
Policy</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Corporate
Policies &amp; Ethics Program intranet site</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Corporate Security<BR>Policies and Practices</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0"> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Corporate Policies &amp; Ethics Program intranet site and the Corporate Security intranet site</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>31</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Attachment</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>1A: </B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#0070c0"><B>CERTIFICATION OF DIRECTORS AND EXECUTIVES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#0070c0"><B>UNDER THE CODE OF BUSINESS CONDUCT </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Boards of Directors of BCE Inc.
and Bell Canada (in each case, the &#147;<B>Company</B>&#148;) and our shareholders, expect all Directors and executives of the Company to follow the highest possible standards of honest and ethical conduct and to encourage and promote a culture in
which ethical business conduct is recognized, valued and exemplified. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Certification</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B></B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">I
certify that I have reviewed, understand and follow the Bell Canada Code of Business Conduct (the &#147;<B>Code</B>&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In
addition, I support the setting of standards needed to discourage wrongdoing and to promote: </FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships,
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">full, fair, accurate and timely disclosure in reports and documents that the Company files with, or submits to, securities regulators and in other
public communications made by the Company, </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">compliance with laws, rules and regulations of federal, provincial, state or local governments, and other relevant private and public regulatory
agencies in all jurisdictions in which the Company operates, </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">prompt reporting of all material violations of the Code to the Chair of the Audit Committee of the Board of Directors of the Company.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">To the best of my knowledge and ability, I will act in good faith, responsibly, with due care, competence and
diligence, without misrepresenting material facts or allowing my independent judgement to be compromised. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">I acknowledge that I
am accountable for following the Code and the responsibilities I have under it. I also acknowledge that complying with the Code is a condition of my employment. If I do not comply with it or applicable laws, rules or regulations, I may be subject to
disciplinary measures, which could include dismissal from the Company. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>1</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Attachment 2A:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Form BC 3684</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#0070c0"><B>EMPLOYEE ANNUAL RECORD OF REVIEW </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Employee </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Family name</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Given names</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-TOP:1px solid #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employee number&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Policy on conflict of interest </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Employees owe their first business allegiance to the Company, and therefore they must remain free of interests or relationships which are harmful or detrimental to the Company&#146;s best interests.
Employees should avoid not only a real conflict of interest, but also the appearance of one which could tarnish their own or the Company&#146;s image. Even though it is not always possible to avoid relationships that could place you in a position of
potential conflict, it is important to inform your manager and avoid actions or decisions that would conflict with the Company&#146;s interests. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Conflict of interest can lead to disciplinary action, even to dismissal and/or prosecution. If you are in doubt, you should discuss your specific situation with your manager, who will then advise you as to
the position of the Company with respect to the matter. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Annual certification </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">I have reviewed, fully understand and follow the Bell Canada&#146;s &#147;Code of Business Conduct&#148; including the section on Conflict
of Interest. I have reported to my manager any relationship or other circumstances that do or could place me in conflict with the interests of the Company. Any new situations will be reported as they occur. I hereby certify that I have no real or
potential conflict of interest, except what is noted on Form BC 3684A. BC 3684A, Declaration of conflict of interest or potential conflict of interest form is available as Attachment 2B of this Code. </FONT></P>
<P STYLE="font-size:24px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employee Signature</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Date</FONT></TD></TR>
</TABLE> <P STYLE="font-size:120px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Immediate Manager Name</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Signature</FONT></TD></TR>
</TABLE> <P STYLE="font-size:96px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="37%"></TD></TR>


<TR>
<TD VALIGN="top" STYLE="BORDER-TOP:2px solid #0070c0"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Note to immediate Manager:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-TOP:2px solid #0070c0"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">This form is to be completed and signed each year and retained in employee&#146;s personnel
file.</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>1</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Attachment 2B:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Form BC 3684A</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#0070c0"><B>DISCLOSURE OF CONFLICT OF INTEREST </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#0070c0"><B>OR POTENTIAL CONFLICT OF INTEREST </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Note to immediate
manager:&nbsp;&nbsp;</B> Please file original in employee&#146;s personnel file. A copy should also be sent to the Corporate Secretary&#146;s Office at corporate.secretariat@bell.ca. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">Employee </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="22%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Family name</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Given names</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Employee number</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">____________________________</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">______________________________</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">______________________</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">I am directly or indirectly involved in other business or employment, which may give rise to or is at
present in conflict with, or potential conflict with, the best interests of the Company: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">I have direct or indirect investment, business involvements or relationships, which may give rise to or is
at present in conflict with, or potential conflict with, the best interests of the Company: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">I have, in the past (2)&nbsp;years, been employed or otherwise commercially involved in endeavours or
companies which are in competition with Bell Canada and its affiliated companies (e.g.: Rogers, Telus, Videotron, Cogeco, etc.): </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">I am currently or was recently bound by restrictive covenants such as non-competition or non-solicitation restrictions:
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Other: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">I understand that in my previous employment or commercial involvement with a competitor of Bell Canada and
its affiliated companies I may have become aware of or given access to undisclosed confidential or proprietary information of my previous employer. As such, unless this information has been publicly disclosed or otherwise available in the
marketplace, I am not to share such information. I also acknowledge that I have returned to my previous employer all property belonging to my previous employer including any confidential or proprietary information and documents provided to me
including any third party information that was entrusted to me. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="30%"></TD></TR>


<TR>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Signature:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Manager&#146;s</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="justify"><FONT
STYLE="font-family:Arial Narrow" SIZE="2">signature:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Organization code:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Organization code:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Phone number:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Phone number:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Date:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Date:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>1</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Attachment 3: </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#0070c0"><B>ADDITIONAL RESOURCES </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">If you have any questions regarding
the issues raised in this document or any questions on the Code, speak to your manager or call the Business Conduct Help Line at https://www.clearviewconnects.com/ or by calling <B>1-866-298-2942</B>&nbsp;(toll free). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">If you wish to report <U>any</U> unethical or illegal behaviour such as corporate fraud, or to raise any concerns regarding the
Company&#146;s accounting, internal accounting controls or auditing matters, you may report the matter to your manager or call the Business Conduct Help Line at https://www.clearviewconnects.com/ or by calling <B>1-866-298-2942</B> (toll free).
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">You may also contact the following resources: </FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">The Code of Business Conduct or for additional information (forms, training) access the Human Resources intranet site (HR Policies - Workplace)
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Industrial Relations Consultants intranet site </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Corporate Security intranet site: </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Life-threatening emergencies call <B>9-1-1</B> </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Loss or theft of company assets, internal fraud, criminal activity, property damage, unauthorized disclosure of Confidential information, known
failures in security safeguards, malfunctioning doors and locks, emergency conditions and service impacting situations are to be reported to Bell&#146;s National Incident Center (NIC) Corporate Security at <B>1-866-714-0911</B> or at cni-nic@bell.ca
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Computer security incidents, Virus, worms, spam or phishing using Bell&#146;s name, any other computer or data network attacks, weaknesses in security
systems, and unexplained systems changes are to be reported to the CSD intranet site at 1-888-920-8888 </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Significant facility or utility interruptions, surveillance, control systems or any service failures that impact the telecommunication network are to
be reported on <B>1-888-570-1091</B> </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Emergency Response System (non life-threatening emergencies) at <B>1-866-714-0911</B> or at cni-nic@bell.ca </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Corporate Responsibility at <B>1-877-235-5368 or </B>at responsibility@bell.ca. </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Enviro-Line Bell (environmental issues) intranet site or at <B>1-877-235-5368</B> </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Branding and Identity Line at <B>(514)&nbsp;870-2347 </B>or at info.branding@bell.ca </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Intellectual Property Policy Group at Legal and Regulatory &#150; Regulatory Affairs intranet site </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Corporate Secretary&#146;s Office intranet site or at 514-786-8424 </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Occupational Health and Safety at (<B>514)&nbsp;870-5848</B> </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Office of the Bell Privacy Ombudsman for Customer related privacy issues at privacy@bell.ca or for additional privacy related information visit:
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">External Privacy link on www.bell.ca </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Internal Privacy related information on the Regulatory Affairs intranet site at Legal and Regulatory &#150; Regulatory Affairs &#150; Privacy
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Privacy in the Workplace for Employees is available at link: Privacy, Human Rights&nbsp;&amp; Diversity </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&#149;</B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Bell employees </B></FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In Ontario, E-mail: privacy.coordinator@bell.ca </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">In Qu&eacute;bec, E-mail: coord.rens.pers@bell.ca </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&#149;</B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Bell Mobility employees </B></FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">E-mail: Coordonateur-protectiondesrenseignementspersonnels@mobility.com </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>&#149;</B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2"><B>Bell ExpressVu employees </B></FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">E-mail: privacycoordinator@expressvu.com </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Arial Narrow" SIZE="1">P&nbsp;a&nbsp;g&nbsp;e&nbsp;|&nbsp;<B>1</B></FONT></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:2pt solid #0070c0">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>Code of Business Conduct </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>5.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#1f497c"><B>POLICY OR PRACTICE DETAILS </B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="88%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="63%"></TD></TR>


<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Issuing BU</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Law &amp; Regulatory Department</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:1px dashed #000000; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:1px dashed #000000; BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Policy sponsor</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Executive Vice-President and
Chief Legal &amp; Regulatory Officer</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Policy owner</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Corporate Secretary&#146;s Office</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:1px dashed #000000; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:1px dashed #000000; BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Primary contact</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Corporate Secretary&#146;s
Office</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Required approvals</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Board of Directors, Corporate Governance Committee, Corporate
Secretary</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:1px dashed #000000; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:1px dashed #000000; BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">FIRST RELEASE</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">1995</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Review cycle</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Annually</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Required Policy or Practice management elements checklist </FONT></P>
<P STYLE="font-size:1px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="88%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="76%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="22%"></TD></TR>


<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Monitoring compliance processes
defined</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Yes</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Communication plan complete</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Yes</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT
SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:1px dashed #000000; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:1px dashed #000000; BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Communication materials
complete</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Yes</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Training plan complete</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Yes</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Revision history </FONT></P>
<P STYLE="font-size:1px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="88%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="19%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="19%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="41%"></TD></TR>


<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:2px solid #0070c0; BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Date</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:2px solid #0070c0"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Change owner</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:2px solid #0070c0"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Changed by</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Description</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">2008</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Changes to reflect 100 Day Plan</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">2009</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Annual update</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px">
<P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">2010</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Annual update</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Feb.
2011</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Update</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">August
2011</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:1px dashed #000000"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:1px dashed #000000; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Annual update</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; padding-left:8px">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:1px dashed #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-RIGHT:2px solid #0070c0">&nbsp;</TD></TR>
<TR>
<TD VALIGN="top" STYLE="BORDER-LEFT:2px solid #0070c0; BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:2px solid #0070c0; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial Narrow" SIZE="2">August
2012</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:2px solid #0070c0"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px dashed #000000; BORDER-BOTTOM:2px solid #0070c0"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Alain Dussault</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2px solid #0070c0"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:2px solid #0070c0; BORDER-BOTTOM:2px solid #0070c0; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial Narrow" SIZE="2">Annual update</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:1px"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="1">&copy; Bell Canada 2012. All Rights Reserved.</FONT></P></TD>
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