Telesat Files Prospectus and Registration Statement for IPO

OTTAWA, Ontario, Sept. 20, 2006/Satnews Daily/ — Telesat Holding Inc. and its shareholder BCE Inc. (TSX/NYSE:BCE) have filed a preliminary prospectus and a registration statement for an initial public offering of non-voting shares of Telesat Holding Inc., in Canada and the United States.

The company said that prior to completion of the offering, Telesat will incur certain indebtedness the net proceeds of which, together with the net proceeds of the offering, will be distributed to BCE.

The offering will be underwritten by a syndicate of underwriters led by Goldman, Sachs & Co., Citigroup Corporate and Investment Banking and RBC Capital Markets, which will act as joint book-running managers for the offering.

Upon closing of the offering, Telesat Holding Inc. will be the parent company of Telesat Canada which is a satellite service provider in Canada.

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