TELUS Establishes $3B Borrowing Platform

On June 24, 2003, TELUS Corporation filed a shelf prospectus in Canada and the U.S. qualifying the issuance of up to $3 billion aggregate initial offering price of debt securities, preferred shares, non-voting shares, common shares, warrants to purchase equity securities, warrants to purchase debt securities, share purchase contracts and share purchase or equity units. Except as may otherwise be set forth in a prospectus supplement, the net proceeds to be received by TELUS from the issue and sale from time to time of any of the securities will be added to the general funds of TELUS to be used to repay existing indebtedness of TELUS, to fund capital expenditures and for general corporate purposes.

TELUS was represented in Canada, by Blake, Cassels & Graydon LLP with a team that included Sheila Murray, Anoop Dogra, Paula Sawyers, Robyn Keinick and Kym Zelinski in Toronto. and Michael Bantey and Hélène Barette in Montreal; and in the U.S., by Skadden, Arps, Slate, Meagher & Flom LLP in New York, with a team that included Phyllis Korff, Richard Aftanas and Stephen Evans.