Bell Canada

Bell Canada
Canderel

Canderel
Proment Corporation

Proment Corporation

September 25, 2007 14:10 ET

Bell Canada Announces the Phase II of New Headquarters on Nuns' Island

Additional building expands campus work environment promoting close collaboration and innovation

MONTREAL, QUEBEC--(Marketwire - Sept. 25, 2007) - Bell Canada, together with the Montreal property developers Canderel and Proment Corporation, announced today Phase II of the construction of new Bell Canada headquarters on Nuns' Island. The second phase is anticipated to be ready for occupancy by February, 2009. Phase I, started in February this year, is slated to be ready for occupancy by September, 2008. Both phases will welcome approximately 4,000 Bell employees.

Jonathan Wener, Chief Executive Officer of Canderel, says, "This is the second phase of one of the largest private-sector developments in Montreal in over 30 years, which represents an investment of $250 million. This project intelligently and sensitively develops one of the last major properties on the St. Lawrence waterfront, for the benefit of Bell's employees, certainly, but for all Montrealers."

For Bell CEO Michael Sabia, the project is a renewal of Bell's commitment to Montreal, where the company broke ground on its Beaver Hall Hill headquarters exactly 80 years ago. "This is also the flagship of a more innovative Bell - one that is capable of working more collaboratively, more cohesively and more rapidly. This new campus will provide our people with an inviting space, a catalyst for a more creative way of working. And it reflects in a tangible way the environmental values of our employees - and our company."

A project that will change Montreal's landscape

Located at the gateway to Montreal and just minutes from the downtown core, the project is being constructed in the vicinity of the Bonaventure Autoroute and the Champlain Bridge where approximately 130,000 vehicles pass daily. Bell's headquarters will have outstanding visibility, spectacular views of the city and access to the St. Lawrence River.

"The realization of the Bell campus in Montreal clearly demonstrates the capacity of our city to mobilize its forces in order to spearhead major projects. It also confirms and reinforces our advanced status in the information technology and communications sectors. With this new campus, Bell Canada is equipping itself with a very strong instrument for growth while contributing to reinventing Montreal with us" notes Mayor of Montreal, Gerald Tremblay."

"We're pleased to welcome our country's communications leader to our borough. This good news is a reflection that Verdun, and its L'Ile-des-Soeurs neighbourhood, provide an outstanding living and working environment", adds Claude Trudel, Mayor of the Borough of Verdun.

A LEED approach to development

Phase II will consist of two multi-story buildings on the north tip of the island linked by a glass-enclosed passageway to Phase I. It will comprise 240,000 square feet of office and amenities and will complement the existing 600,000 square feet of campus under construction, bringing the total to 840,000 square feet. The building will have underground parking in order to preserve the green space for which the area is renowned. Both phases have been designed by Brian Burrows of Architex and are being constructed by Reliance Construction.

As a proposed LEED-project, the buildings are designed to be environmentally sensitive, functional and ecologically friendly. LEED is the most rigorous international standard for environmental and sustainable development norms. This will be the first major Montreal office building to adopt a LEED approach to development.

"The integrated campus of Bell's headquarters, conceived in such an architecturally attractive manner and in such a beautiful green environment, incorporates many sustainable features and is designed for LEED certification," adds Samuel Gewurz, President of Proment Corporation.

Attending an event on the site of the future Bell Canada Campus today, Minister of Public Works and Government Services Canada and Minister responsible for the Montreal region, Michael M Fortier, comments, "In keeping with the adoption by Canada's new government of LEED standards for all its new office buildings, Bell Canada takes to heart the well-being of future generations and respect for the environment. By selecting creatively designed installations that meet higher environmental standards, Bell Canada is demonstrating leadership and reaffirming its drive for innovation that has brought success and renown to the company. Today's announcement is therefore excellent news, not only for Montreal, but for all of Canada as well."

"The Quebec government is delighted with the start of construction for the second phase of the Bell Canada campus. It is crucial that we retain companies that have greatly contributed to Quebec's economic development and prosperity. With its modern and esthetic look, the eco-friendly Bell Canada campus will further improve Montreal's landscape", states Henri-Francois Gautrin, Quebec's Deputy Government House Leader, Parliamentary assistant to the Premier and MNA for Verdun.

ABOUT BELL

Bell is Canada's largest communications company, providing consumers with solutions to all their communications needs, including telephone services, wireless communications, high-speed Internet, digital television and voice over IP. Bell also offers integrated information and communications technology (ICT) services to businesses and governments, and is the Virtual Chief Information Officer (VCIO) to small and medium businesses (SMBs). Bell is proud to be a Premier National Partner and the exclusive Communications Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. Bell is wholly owned by BCE Inc. For information on Bell's products and services, please visit www.bell.ca. For corporate information on BCE, please visit www.bce.ca.

ABOUT CANDEREL

The Canderel Group of Companies is comprised of several fully integrated, commercial real estate companies with its headquarters in Montreal. Since 1975, Canderel has grown to become one of the most successful real estate development and management organizations in eastern Canada. Founded by Jonathan Wener, Canderel has established an enviable reputation for its integrity as a major real estate development company and for its sound judgment and knowledge of the commercial, multi-residential and industrial real estate business.

Over the years, Canderel has been intimately involved in all aspects of commercial property development, including land assembly, acquisition and disposal, planning, design, construction, project management, leasing, finance, and property management, and asset management. The group's principal development activities are in the office, commercial, industrial and residential markets of Montreal, Ottawa, Toronto and Vancouver, in Canada. Canderel's success to date is largely a reflection of its unique ability to direct all facets of real estate projects, either on its own behalf, for its clients, or in joint venture with partners.

ABOUT PROMENT CORPORATION

Proment Corporation is the principal residential developer of Nuns' Island and has helped establish the residential quality of Nuns' Island through its landmark riverside developments. It was founded by Samuel Gewurz in 1965 and since 1980, in affiliation with Nuns Island Investments inc. and its president, Aaron Remer, it has been primarily involved in the development of Nuns' Island. Proment has been awarded many prizes for its quality development Les Verrieres sur le Fleuve, Les Sommets sur le fleuve, Val de l'Anse, etc., including four awards of Builder of the Year by the A.P.C.H.Q.

Proment invited Canderel to serve as the lead partner in the development of the commercial lands on Nuns' Island. Canderel served as the principal and prime mover in the Bell negotiations and development of the Bell project. Proment has the responsibility to develop 1,800 residential units on the balance of land on the northern tip of Nuns' Island adjacent to Bell to be known as Le Quartier sur le fleuve, which will make the northern tip a world-class mixed-use community.

To obtain pictures and renderings: http://www.digitaleclipse.tv/Canderel/Bell%20Press%20Conference/photos

To obtain the video: http://www.digitaleclipse.tv/Canderel/Bell%20Press%20Conference/canderel_bell.mov

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http://www.ccnmatthews.com/em/2654

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