Affiliate of BCI and Telecom Americas Closes Agreements With Brazilian Pension and Investment Funds

Business Wire, Sept 25, 2001

Business Editors

MONTREAL--(BUSINESS WIRE)--Sept. 25, 2001

Affiliate purchases stake in Brazilian cellular companies

Bell Canada International Inc. ("BCI") (NASDAQ:BCICF) (TSE:BI.) today announced that an affiliate of BCI and Telecom Americas Ltd. ("Telecom Americas") has closed transactions with a group of Brazilian pension and investment funds to purchase their interests in the Brazilian cellular companies Telet S.A. and Americel S.A., which together serve over 1 million subscribers in the Brazilian state of Rio Grande do Sul and the states of the Central-West region.

As a result of the closing of the agreements, which were announced on March 13, 2001, the purchasing company will now hold an approximate 76% economic interest in both Telet and Americel. In addition, upon the completion of remaining commitments subject to regulatory and other approvals, the purchasing company will ultimately hold an approximate 81% economic interest in Americel and Telet.

About Telecom Americas

Telecom Americas Ltd. is a facilities-based company which provides mobile wireless and broadband communications services in South America's leading markets. Owned 41.7% by BCI (TSE: BI) (NASDAQ: BCICF), 45.5% by Mexico's America Movil S.A. de C.V. (NYSE: AMX) (BMV: AMX) (NASDAQ: AMOV) and 12.8% by SBC International, a wholly-owned subsidiary of Texas-based SBC Communications (NYSE: SBC), Telecom Americas is the three partners' primary vehicle for expansion in Latin America.

About BCI

A publicly-traded subsidiary of BCE Inc., Canada's largest communications company, Bell Canada International owns, develops and operates advanced communications companies in markets outside Canada, with a focus on Latin America. BCI's shares are listed on the Toronto Stock Exchange under the symbol "BI" and the NASDAQ National Market under the symbol BCICF. Visit BCI's Web site at www.bci.ca

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