Investor fact sheet

Focused strategy on high growth industries of wireless, data and IP
TELUS has set tight priorities to focus on the wireless and data/IP markets.

Largest pure play telecom investment in Canada
With a market capitalization of $16.6 billion, 350 million shares outstanding, and active trading on the Toronto and New York stock exchanges, TELUS is a highly liquid investment. Combined average three-month trading volume for common and non-voting shares was 1.3 million as at December 31, 2005.

Expanding nationally
Growing from a strong position in Western Canada, TELUS is expanding nationally into a market that is approximately four times the size of its home market. To this end, TELUS acquired in 2000 national wireless service provider Clearnet, 100 per cent of QuébecTel; made a number of smaller acquisitions throughout 2001 (see Merger & Acquisitions) ; and lit a national fibre network in 2001.

Leveraging relationship with Verizon and Genuity in the U.S.
Verizon is one of the largest wireline and wireless operators in North America. TELUS has a marketing and technology agreement with Verizon.

Top management talent revitalizing the organization
TELUS restructured to a market facing organization so that it can better meet the needs of customers by offering holistic and integrated solutions. The flat structure will also improve speed, agility and customer response times. The strong executive leadership team populates this structure and is revitalizing the organization. Executives are located across Canada.

Financial strength to fund future growth and return cash to investors
Our consistent strategy since 2000 has produced a superior asset mix. This is generating cash flow that is being used to invest in core businesses and, as a recurring model, to return cash to debt and equity holders.