TELUS

annual report 2004

disclaimer

forward-looking statements summary

This report contains statements about expected future events and financial and operating results of TELUS that are forward-looking and subject to risks and uncertainties. Accordingly, this report is qualified in its entirety by the inherent risks and uncertainties surrounding future expectations. Factors that could cause actual results to differ materially include, but are not limited to, competition, human resources (including the outcome of outstanding labour relations issues), regulatory developments, process risks, and other risk factors discussed in this document and listed from time to time in continuous disclosure documents filed on SEDAR (sedar.com) under applicable Canadian securities laws and filed on EDGAR (sec.gov) under applicable U.S. securities laws. See forward-looking statements.

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