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TELUS to Invest $2.8 Billion Across B.C. Through 2016(Marketwire (Canada) Via Acquire Media NewsEdge) VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 5, 2014) - TELUS (TSX:T)(NYSE:TU) will invest $2.8 billion in new infrastructure and facilities across B.C. through 2016, the company announced today ahead of its annual general meeting in Vancouver later this week. TELUS will spend $1.2 billion across the province in 2014, the final year of a three-year plan unveiled in 2012, and today committed to spend another $1.6 billion in 2015 and 2016 to build infrastructure, expand urban & rural Internet connectivity and capacity, and bring the world's fastest wireless technology to more B.C. communities. "TELUS is proud to invest $2.8 billion in leading-edge broadband technologies through 2016 to ensure British Columbia continues to be one of the most connected places anywhere in the world," said Darren Entwistle, TELUS President and CEO. "By the end of 2016, TELUS' investment in operations, infrastructure and technology across B.C. since 2000 will exceed $40 billion," Mr. Entwistle added. "Notably, the subject of tax morality has become a hot topic in the governance of corporations around the world. Importantly in this regard, since 2000 TELUS has remitted income, payroll, property, sales and other taxes totalling more than $3.2 billion to provincial and municipal governments in B.C. alone, thereby helping to support critical social services for citizens in communities across the province. "TELUS' investment in communities extends well beyond infrastructure, tax remittances and providing customers with world-class technology," continued Mr. Entwistle. "We recognize that investing in local organizations through donations and volunteering is equally as important as investing in technology and infrastructure. Since 2000, TELUS and our 20,000 employees and retirees here in B.C. have donated over $110 million and volunteered 2.9 million hours to community and charitable organizations in our neighbourhoods across the province." This year, TELUS' infrastructure and technology investments will advance services for the benefit of British Columbians by: -- Meeting the increasing demand for wireless data by rapidly deploying 700MHz spectrum for use in rural and urban areas, enhancing the already world-leading speed, coverage and reliability TELUS customers experience. This also includes installing dozens of new wireless sites along remote highways, enhancing the safety of travel across the province; -- Connecting thousands of homes and businesses in various communities with higher-capacity Internet and Optik TV solutions; -- Expanding the reach of TELUS' healthcare solutions, which currently provide electronic medical records to more than 12,500 Canadian physicians across the country and support more than 45 million patient interactions each year; and -- Completing construction on the environmentally and technologically- advanced TELUS Garden office tower in downtown Vancouver. Mr. Entwistle concluded, "TELUS' continued investment has fuelled the unparalleled success of our Optik TV, high-speed Internet and business services, as well as the ongoing advancement of our world-leading LTE wireless network that now extends to more than 90 per cent of British Columbians. As a result, we are bridging the digital divide by offering citizens greater access to telehealth, virtual classrooms and small business solutions in even the most remote corners of the province." The capital investment disclosed in this release is consistent with TELUS' overall capital expenditure guidance for 2014, issued on February 13, 2014. About TELUS TELUS (TSX:T)(NYSE:TU) is Canada's fastest-growing national telecommunications company, with $11.4 billion of annual revenue and 13.3 million customer connections, including 7.8 million wireless subscribers, 3.3 million wireline network access lines, 1.4 million Internet subscribers and 815,000 TELUS TV customers. Led since 2000 by President and CEO, Darren Entwistle, TELUS provides a wide range of communications products and services, including wireless, data, Internet protocol (IP), voice, television, entertainment and video. In support of our philosophy to give where we live, TELUS, our team members and retirees have contributed more than $350 million to charitable and not-for-profit organizations and volunteered 5.4 million hours of service to local communities since 2000. TELUS was honoured to be named the most outstanding philanthropic corporation globally for 2010 by the Association of Fundraising Professionals, becoming the first Canadian company to receive this prestigious international recognition. For more information about TELUS, please visit telus.com. Forward-looking statement: This news release contains statements about expected future events including TELUS' projected multi-year capital and operating expenditures, which include spectrum licence purchases that are forward-looking. The investments described for 2015 and 2016 are subject to the ongoing review and approval of TELUS' Board of Directors. By their nature, forward-looking statements require the Company to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors (such as regulatory and government decisions, the competitive environment, economic conditions, our ability to purchase spectrum licences through auctions or third-parties, and our earnings, free cash flow and financial position) could cause actual capital and operating expenditures to differ materially from those expressed in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and qualified by the assumptions (including the assumptions for our 2014 annual guidance, semi-annual dividend increases through 2016, ability to sustain and complete our multi-year share purchase programs through 2016), qualifications and risk factors referred to in the 2013 annual report, which are specifically incorporated by reference herein, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements. FOR FURTHER INFORMATION PLEASE CONTACT: Liz Sauve TELUS Media Relations (604) 719-6715 [email protected] Darrell Rae TELUS Investor Relations (604) 697-8192 [email protected] www.telus.com Source: TELUS Corporation |