ED TEL Sale Closed Back
March 10, 1995

Edmonton, Alberta. TELUS Corporation closed the acquisition of Edmonton Telephones (ED TEL) from the City of Edmonton. The deal was formally concluded when George Petty, TELUS President and CEO, presented a cheque for $465 million to the city, officially making ED TEL part of the TELUS group of companies.

Highlights of the deal include:

Commenting on the sale closing, Mr. Petty said, "I am very excited about ED TEL becoming a member of the TELUS family. At TELUS, we take our commitment to Edmonton, and Alberta, very seriously, and we will continue to provide our customers with world-class telecommunications services."

With the addition of ED TEL, TELUS Corporation is Canada's third largest telecommunications company, with total assets in excess of $4 billion and operating revenues well in excess of $1.6 billion.