Telus - 1999 Annual Report

FINANCIALS

1999 was a challenging year in the telecommunications industry, yet we maintained the financial strength of our company:

	Revenue of $5.9 billion - up 1 %
	Cash flow from operations of $1.7 billion - up 6%
	Paid down long-term debt by $258 million

	During 1999, we successfully offset lower long distance pricing with Internet and Information Services growth.

	*The EBITDA margin remained stable at 40% in 1999.** *EBITDA - Earnings Before Interest, Taxes, Depreciation and Amortization

	Over the past five years, cash flow has increased by a 9% compounded annual growth rate. Cash flow from operations before changes in working capital