Mason Capital Comments on B.C. Court Decisions

  Mason Capital Comments on B.C. Court Decisions

Business Wire

NEW YORK -- October 16, 2012

Mason Capital Management LLC (“Mason”) today announced that it will pursue
appeals of the decisions rendered yesterday by the Supreme Court of British
Columbia regarding the shareholders meeting of TELUS Corporation (TSX:T;
TSX:T.A; NYSE: TU) ("TELUS") scheduled for October 17, 2012. Mason believes
that these decisions disenfranchise the TELUS voting shareholders. First, a
simple majority vote for the voting shareholders on the TELUS arrangement is
less than the law of British Columbia and TELUS’ articles require, and less
than TELUS offered when it first sought to collapse its dual class structure.
Second, as a result of the orders sought and obtained by TELUS, the TELUS
arrangement resolution and Mason’s proposals will be put to a vote without
voting shareholders having been provided with complete information or a
reasonable opportunity to consider and provide instructions on how their
shares should be voted.

Contact:

Sard Verbinnen & Co
Jonathan Gasthalter/Dan Gagnier/Brooke Gordon
+1 212-687-8080
or
NATIONAL Public Relations
Peter Block / Sarah Coombs / Jennifer Lee
+1 416-586-0180
 
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