Special Distribution

Unitholders of record of Bell Nordiq Income Fund on January 26, 2007, received, as part of the merger with Bell Aliant, a cash distribution of $4.00 per unit. According to information found on Bell Aliant's website, this $4.00 distribution is deemed to be return of capital, and, as such, reduces the ACB of the Bell Nordiq units by $4.00 per unit. Please refer to the Bell Aliant website for more details.