T5008 tax slips, for sale of units, will be issued on or before February 29, 2008.If you hold your units with a broker you will receive your related tax slips from your broker.Dividends on Bell Aliant shares paid or credited to non-residents of Canada are subject to a 25% withholding tax unless reduced by treaty. Under the Jobs and Growth Tax Reconciliation Act of 2003, dividends paid to US individuals by most US public companies and qualifying foreign corporations, including public Canadian companies such as Bell Aliant, will constitute "qualified dividend income" eligible for the preferential tax rate for individuals that meet certain requirements (including a minimum holding period requirement). Treasury Department has determined that the Convention between the United States of America and Canada with respect to Taxes on Income and Capital meets the requirements described above, and Bell Aliant Inc. corporation will generally be classified as a PFIC for U. federal income tax purposes for any taxable year during which either (i) at least 75 per cent of the corporation's gross income is ''passive income'' or (ii) on average, at least 50 per cent of the gross value of the corporation's assets is attributable to assets that produce passive income or are held for the production of passive income. believes that it is not currently, and is not likely to become in the near future, a PFIC; however, no assurance can be given in this regard.

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Bell Aliant common shareowners are also required to pay tax on any capital gains they realize when they sell their shares or are deemed to have sold them.

Our section dealing with Archived Information contains information about how you should calculate the cost of your shares.

Distribution Mix Cautionary Statement: Bell Aliant provides this information for estimate purposes only and actual results may vary.

The following summary is intended to assist Canadian resident Unitholders of the Fund with respect to the treatment of cash distributions received from the Fund for Canadian income tax purposes.

Eligible Dividend Designation Until indicated otherwise in writing at or before the time a distribution is paid, to the extent that any portion of the distributions paid are designated as dividends paid by Bell Aliant, that portion is designated to be an "eligible dividend" pursuant to the Income Tax Act (Canada) and corresponding provincial legislation. in 2006 and any portion of Bell Aliant's 2006 distributions paid that have been designated as dividend income are also designated to be an "eligible dividend" pursuant to the Income Tax Act (Canada) and corresponding provincial legislation.

(previously Bell Aliant Regional Communications Income Fund) began trading on the Toronto Stock Exchange on January 4, 2011. corporations, partnerships, trusts, etc.), please consult a tax and/or financial advisor with respect to the Canadian tax treatment of dividends received from Bell Aliant. Accordingly, this summary is of a general nature only and is not intended to be legal or tax advice to any holder of Bell Aliant shares.

Federal Distribution Mix (T3) Eligible Dividend Designation Until indicated otherwise in writing at or before the time a distribution is paid, to the extent that any portion of the distributions paid are designated as dividends paid by Bell Aliant, that portion is designated to be an "eligible dividend" pursuant to the Income Tax Act (Canada) and corresponding provincial legislation.

Individuals resident in Canada may be entitled to enhanced dividend tax credits that significantly reduce the income tax otherwise payable on such dividends.

and other non-resident shareholders, please refer to the special section below - Tax Information for U. Moreover, the income and other tax consequences of acquiring, holding or disposing of Bell Aliant shares will vary depending on the shareholder's particular circumstances, including the province or territory in which you reside.