TELUS acquires leading Canadian provider of IT security services, Assurent Secure Technologies

Toronto, Ontario – TELUS Corporation announced that today it has acquired through a wholly-owned subsidiary all the outstanding shares of privately owned FSC Internet Corp. d.b.a. “Assurent Secure Technologies” (“Assurent”) for an undisclosed purchase price. Assurent is a Toronto-based leading provider of information technology security services and products.

Assurent's 55 employees will become a key part of TELUS Business Resiliency Services, a part of the TELUS Business Solutions business unit. This acquisition is consistent with TELUS' approach to make “tuck-under” acquisitions which augment capabilities related to the strategic growth areas of data, wireless and IP.

“Information security is an increasingly critical issue for all businesses. Security threats continue to proliferate at an ever-increasing pace and we will leverage Assurent's industry-leading expertise and reputation to enhance our capabilities. Organizations that are ‘backed by TELUS' will enjoy the strongest IT security value proposition in Canada,” said Joe Natale, President, TELUS Business Solutions.

Assurent is a specialized information security products and services company deeply rooted in the Canadian and international IT security industries. The company's core business includes security software, vulnerability research, and related engineering and consulting services. Growing rapidly since 2002, the company has 90 customers, including many Fortune 500 companies in Canada, the U.S., Europe and Asia, in key industries including financial services, government, retail and technology. Assurent operates one of the world's leading vulnerability research labs and has strong relationships with more than 20 international security technology vendors that look to the company for strategic research and services to strengthen their security solutions.

“We are excited about joining the TELUS team as both Assurent and TELUS share a commitment to providing IT security solutions that help our customers protect their assets, identities and private information,” said Richard Reiner, Chief Technology Officer, Assurent. “Customers will be the beneficiaries of our combined suite of internationally recognized security solutions that have a long and successful track record of enabling business resiliency.”

“Over the past four years, we have built a team of some of the best security professionals in the world – right here in Canada,” said Roger Mahabir, Chairman, Assurent. “We had many potential strategic options and we are delighted that we have reached an agreement with TELUS, a company who shares similar values of integrity, professionalism and the highest level of customer service. Our clients and employees will continue to be extremely well-served through this transaction.”

According to a composite estimate from the Yankee Group, Gartner, IDC, DataMonitor, Merrill Lynch and Goldman Sachs, the Canadian security market in Canada is estimated to be worth more than $900 million and is projected to grow upwards of 19 per cent year-over-year, reaching $1.5 billion by 2007.

About TELUS Business Resiliency Services
TELUS has been providing security solutions since 1996. TELUS Business Resiliency Services provide a competitive edge to businesses through a comprehensive multi-faceted suite of security capabilities that are customized to meet the unique needs of each customer. TELUS fully integrates security solutions into its business solutions suite through services including End-Point Enforcement, End-Point Security Alert, VPN, Firewalls, Anti-Virus, and Authentication.

About TELUS
TELUS (TSX: T, T.NV; NYSE: TU) is a leading national telecommunications company in Canada, with $8.1 billion of annual revenue and 10.2 million customer connections including 4.5 million wireless subscribers, 4.7 million wireline network access lines and 1.0 million Internet subscribers. The company's strategic intent is to unleash the power of the Internet to deliver the best solutions to Canadians at home, in the workplace and on the move. TELUS provides customers with a wide range of wireline and wireless communications products and services including data, Internet protocol (IP), voice, entertainment and video services.
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Allison Vale
TELUS external communications
416.629.6425
Allison.Vale@telus.com