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Bell Aliant conversion receives court approval

^{Published on 2010-06-24 14:21:17 - Market Wire}
 

HALIFAX, June 24 /CNW/ - Bell Aliant Regional Communications Income Fund (the Fund or Bell Aliant) (TSX: BA.UN) announced today that it has received approval from the Nova Scotia Supreme Court for the proposed conversion from an income trust to a corporate structure.

Once completed, the transaction will result in the conversion of Bell Aliant's income trust structure into a dividend paying public corporation to be named "Bell Aliant Inc.", with the trading symbol of TSX: BA. Under the conversion, Fund unitholders will receive one common share of the resulting public corporation for each unit held.

The conversion remains subject to certain conditions, including regulatory and other approvals, and is expected to be completed on or about January 1, 2011.

Forward-looking Statements

This news release contains forward-looking statements concerning the anticipated future impact of the Fund's proposed conversion transaction, based on the current terms of the plan of arrangement and management's expectations at June 24, 2010. Actual results and events may differ materially from these forward-looking statements, including due to the conditions to completing the conversion transaction, and there can be no assurance that the results or events predicted will be realized. Except as may be required by Canadian securities laws, Bell Aliant disclaims any intention and assumes no obligation to update or revise any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

About Bell Aliant

Bell Aliant (TSX: BA.UN) is one of North America's largest regional communications providers and the first company in Canada to cover an entire city with fibre-to-the-home (FTTH) technology with its FibreOP(TM) services. Through its operating entities it serves customers in six Canadian provinces with innovative information, communication and technology services including voice, data, Internet, video and value-added business solutions. Through its xwave offices, Bell Aliant also provides IT professional services and advanced technology solutions. Bell Aliant's employees deliver the highest quality of customer service, choice and convenience. For more information about Bell Aliant visit [ www.bellaliant.ca ].

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