rolling up our sleeves

On September 30, more than 5,000 TELUS team members, alumni and their families volunteered in 1,400 projects and activities that made a significant difference in dozens of communities across Canada as part of the first annual TELUS National Day of Service.

Building a friendlier future together

Advancing our commitment to being Canada's premier corporate citizen, we introduced several innovative national initiatives and expanded a number of programs, which increase our ability to grow together for the benefit of all the communities where we live, work and serve.

To augment the significant donations and volunteer work that TELUS and our team members provide each year, we completed the launch of seven TELUS Community Boards across Canada. They are responsible for distributing a total of $3.5 million annually to deserving local charitable organizations. The Boards, which include distinguished community representatives, focus on grassroots charitable projects and organizations that are building a sustainable future in their communities.

The first annual TELUS National Day of Service held in September was a tremendous success. Team members demonstrated their passion and dedication to changing the lives of those less fortunate. We also launched the TELUS Community Ambassadors™ program to support and fund our retirees and team members in providing much needed volunteer services and programs in local communities.

TELUS is building on its excellent reputation in the area of corporate social responsibility. For the sixth year in a row, TELUS was named to the global Dow Jones Sustainability Index. TELUS is the only North American telecommunications company included in the worldwide index.

To find out more about our community investment activities, please visit the growing together section of this 2006 annual report - business review.

Growing together

Your company is well positioned to continue achieving financial and operational success and generating value for our investors. TELUS has an enviable track record of attaining our financial and operating targets. In fact, since 2001, we have met or exceeded 88 per cent of our 32 consolidated financial targets. Over the past six years, TELUS' share price has increased 58 per cent, which is the best performance amongst global incumbent telecommunications peers.

We intend to work hard to continue these trends and create ongoing value in the years ahead. The TELUS team's relentless focus on our proven strategy will persist, and I am confident we will stay ahead through innovation and operational excellence. We look forward to growing together with our many stakeholders in 2007 and beyond.

Thank you for your continued support.

Original signed by,

Darren Entwistle
President and Chief Executive Officer
February 23, 2007