BCE Turns to PwC

MONTREAL -- KPMG advised BCE (TSX, NYSE: BCE - News News) that it did not expect to be in a position to deliver, at the scheduled effective time of BCE's privatization, an opinion that BCE would meet, post-transaction, the solvency tests set out in the definitive agreement, as amended. BCE continues to disagree with KPMG's preliminary view of post-transaction solvency. PricewaterhouseCoopers LLP (PwC) has been engaged to perform valuation work in connection with the Company's submissions to KPMG related to the solvency opinion.

While BCE believes that PwC's work supports the Company's position, PwC has not been engaged to provide the solvency opinion required in connection with the closing of the transaction.

The receipt at the effective time of a positive solvency opinion from KPMG remains a condition to closing. Should KPMG be unable to deliver a favourable opinion on December 11, 2008, the transaction is unlikely to proceed.

BCE Inc. (Bell Canada) (NYSE/Toronto: BCE)

PricewaterhouseCoopers International