DISK004:[98CLG6.98CLG3726]BA3726A.;28 - About TELUS

Shares at the Effective Date. See ‘‘Details of the Arrangement and Related Transactions — Relationship
between GTE and BCT.TELUS After the Arrangement’’. To the knowledge of the senior management and
directors of TELUS, there are no shareholders of TELUS who would, had the Arrangement occurred on the
TELUS Record Date, own of record or beneficially, directly or indirectly, or exercise control or direction over,
in excess of 10% of the BCT.TELUS Common Shares other than The Canadian Depository for Securities
Limited, which holds of record in excess of 10% of such shares for the benefit of its participants.
As of the date hereof, the proposed directors and officers of BCT.TELUS as a group beneficially own,
directly or indirectly, or exercise control or direction over less than 1% of the outstanding BC TELECOM
Common Shares and less than 1% of the outstanding TELUS Common Shares and, after the Arrangement, will
hold less than 1% of the outstanding BCT.TELUS Common Shares and less than 1% of the outstanding
BCT.TELUS Non-Voting Shares. The information with respect to share ownership, not being within the
knowledge of either BC TELECOM or TELUS, has been furnished by the respective directors and
officers individually.
Auditors, Transfer Agent and Registrar
As at the Effective Date, the auditors of BCT.TELUS will be Arthur Andersen LLP, Chartered
Accountants, Vancouver, British Columbia. The transfer agent and registrar of the BCT.TELUS Common
Shares and BCT.TELUS Non-Voting Shares will be Montreal Trust Company of Canada, with offices in
Vancouver, Edmonton, Calgary, Regina, Winnipeg, Toronto, Montreal and Halifax.
Dividends
It is anticipated that BCT.TELUS will initially pay annual dividends on both BCT.TELUS Common Shares
and BCT.TELUS Non-Voting Shares in an amount equal to $1.40 per share, commencing with a quarterly
payment of $0.35 per share to be paid in respect of the first quarter of 1999. However, there can be no assurance
that such dividends will be declared or continued. The declaration and payment of dividends is at the discretion
of the Board of Directors of BCT.TELUS which will consider the earnings, capital requirements and financial
condition of BCT.TELUS and other relevant factors.
Pro Forma Combined Consolidated Capitalization of BCT.TELUS
The following table and notes set forth the combined consolidated capitalization of BC TELECOM and
TELUS as at September 30, 1998 and the pro forma combined consolidated capitalization of BCT.TELUS as at
September 30, 1998. This table should be read in conjunction with the BC TELECOM and TELUS unaudited
interim comparative consolidated financial statements attached to this Joint Circular in Appendix G and H,
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