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Bell Nordiq Income Fund privatized by Bell Aliant for US$600 million

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Bell Nordiq Income Fund

On January 30, 2007, Bell Aliant Regional Communications Income Fund (TSX: BA.UN) and Bell Nordiq Group Inc., in its capacity as administrator of Bell Nordiq Income Fund announced that the privatization of Bell Nordiq by Bell Aliant had been completed.The privatization steps, including the payment by Bell Nordiq to Bell Nordiq unitholders of a special distribution of $4.00 per unit, or $131 million, in cash on January 29, 2007, and issuance of 0.4113 of a Bell Aliant unit in exchange for each Bell Nordiq unit for a total of 13.5 million units, on January 30, 2007, were completed as planned. Bell Nordiq units ceased trading on the TSX as of the close of business on January 29, 2007 and were delisted at the close of business on January 30, 2007.Robert Paré and Gilles Carli of Fasken Martineau advised the independent committee of Bell Nordiq Income Fund in this related party transaction with a value of approximately $600 million.


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