NOTICE IS HEREBY GIVEN that the Board of Directors has declared a quarterly dividend of thirty-five cents ($0.35) Canadian per share on the outstanding Common Shares and outstanding Non-Voting Shares of the Corporation payable on April 1, 2001 to holders of record at the close of business on March 9, 2001.
By order of the Board
Robert J. Dardi
Vice President & Corporate Secretary
Burnaby, British Columbia
February 14, 2001
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Burnaby, B.C. - TELUS Corporation will invest $200 million over the next three years in expanding the QuébecTel fibre network, switching equipment and data/Internet Protocol (IP) infrastructure in the province.
TELUS will build upon the 50,000 fibre-kilometre network already established in Québec by TELUS subsidiary QuébecTel at a rate of about 30,000 fibre-km per year to reach 80 per cent of the Québec business market by the end of 2003. This expansion is expected to result in the creation of about 500 new jobs in the province over the same period.
"We have carefully reviewed our options to build, partner or acquire in achieving our growth goals within the important Québec market," said Darren Entwistle, president and CEO of TELUS Corporation. "TELUS is in the strong position of having an excellent management team as well as fibre assets in Québec through QuébecTel that position us well to quickly springboard into that province's key data and IP markets. Make no mistake, TELUS will continue to be aggressive in pursuing acquisitions that support our strategy, but only if such acquisitions enhance shareholder value."
"Under Louis Morin, our new vice-president, sales and marketing, QuébecTel has an experienced and effective sales, marketing and management team that knows the Québec market extremely well and is committed to increasing its competitive presence outside its traditional territory," said Hugues St-Pierre, president and CEO of QuébecTel. "In addition, QuébecTel has the support of a reorganized TELUS that is better poised to more efficiently and effectively provide customers complete managed data and Internet Protocol services nationally."
TELUS will move quickly to establish its own equipment in a substantial number of multi-tenant buildings in strategic locations. Local and long-distance service switching is provided through QuébecTel's existing facilities for in-franchise customers and out-of-franchise areas. TELUS has also been granted Competitive Local Exchange Carrier (CLEC) status in Québec.
QuébecTel's existing 390 kilometres of fibre cables in Montreal is already within reach of 80 per cent of the targeted business market in that city. QuébecTel also has extensive fibre networks within Québec City, Repentigny, Drummondville, Laval and Sherbrooke. And, it has more than 1,000 kilometres of intercity fibre cables connecting Montreal, Québec City, Hull and Chicoutimi.
QuébecTel has established an Internet Protocol, MPLS carrier class network to offer voice and digital services using state-of-the-art ATM and SONET technologies. This IP, carrier class network reaches more than 90 per cent of business customers in Québec.
TELUS Corporation (TSE: T, T.A; NYSE: TU) is one of Canada's leading telecommunications companies providing a full range of communications products and services that connect Canadians to the world. The company generated $5.9 billion in revenues in 1999 and is the leading service provider in Western Canada. TELUS also provides voice, data, Internet, advertising and wireless services to Central and Eastern Canada. With the purchase of QuébecTel and national digital wireless company Clearnet Communications Inc., TELUS is rapidly strengthening its position as a leading national service provider.
For more information, please contact:
(604) 432-2663 (office)
The QubecTel Group Inc.