[May 05, 2004] TELUS receives C$1.6 billion of commitments for new bank credit facilities VANCOUVER, May 5 /PRNewswire-FirstCall/ -- TELUS Corporation (TSX: T, T.A; NYSE: TU), has received C$1.6 billion in commitments from a syndicate of 18 financial institutions. The new credit facilities consist of a C$800 million (or U.S. dollar equivalent) revolving four-year credit facility (expiring in 2008) and a C$800 million (or U.S. dollar equivalent) 364-day revolving credit facility extendible at TELUS' option for any amount outstanding as at the one- year anniversary date for one year on a non-revolving basis. The new facilities will replace TELUS' existing C$2.1 billion of committed credit facilities prior to their termination dates and have substantially similar terms with the exception of more flexible reporting requirements and covenant calculations. These new facilities are subject to final documentation and are expected to be finalized shortly. About TELUS TELUS (TSX: T, T.A; NYSE: TU) is the largest telecommunications company in Western Canada and the second largest in the country, with more than $7 billion of annual revenue, 4.8 million network access lines and 3.5 million wireless subscribers. The company provides subscribers with a full range of telecommunications products and services including data, voice and wireless services across Canada, utilizing next generation Internet-based technologies. TELUS was a premier founding supporter of the successful bid to bring the 2010 Winter Olympic and Paralympic Games to Canada. TELUS Corporation CONTACT: John Wheeler, Investor Relations, [email protected],(780) 493-7310; Nick Culo, Communications, [email protected],(780) 493-7236 [ Back To TMCnet.com's Homepage ]