Bell Aliant Regional Communications Income Fund

Bell Aliant Regional Communications Income Fund indirectly holds 62.1% of Bell Aliant Regional Communications, Limited Partnership, the third largest incumbent telecom operator in Canada with networks in Atlantic Canada, Ontario and Québec. In addition Bell Aliant Regional Communications Income Fund owns, directly and indirectly, 100% of Télébec, Limited Partnership and NorthernTel, Limited Partnership. The operating subsidiaries of Bell Aliant Regional Communications Income Fund are 37.9% owned, directly and indirectly, by BCE Inc., which has governance rights.