Last updated on April 20, 2014 at 8:28 EDT

TELUS intends to redeem 2014 Notes early

March 26, 2013

C$700 million 4.95 per cent Notes due May 15, 2014 being redeemed a year

VANCOUVER, March 26, 2013 /PRNewswire/ – TELUS announced today its intention to
exercise its right to redeem, in whole or in part, its Canadian dollar
denominated $700 million 4.95 per cent Notes due May 15, 2014 a year
early, on May 15, 2013 (the “Notes”, CUSIP # 87971MAJ2). The Notes
were issued in May 2009. The redemption price will be based on the
Government of Canada Yield, as defined in the trust indenture pursuant
to which such Notes were issued. Note-holders will also receive the
regularly scheduled semi-annual interest payment on May 15, 2013.

TELUS plans to finance the redemption through a new debt issue and/or
funds available under its existing credit facilities. Unanticipated
developments or circumstances beyond TELUS’ control could affect its
intended redemption of the Notes and there is no assurance that the
redemption will be completed. TELUS will only become obligated to
complete the redemption once it gives notice of redemption in
accordance with the governing trust indenture. This notice must be
issued not less than 30 nor more than 60 days prior to the anticipated
redemption date of May 15, 2013. TELUS will make an announcement as to
the principal amount of the Notes to be redeemed and the redemption
date when it gives notice of redemption.

This media release is for informational purposes only and shall not
constitute an offer to buy or the solicitation of an offer to buy any
of these securities.

Forward Looking Statements
This media release contains forward looking statements. Forward looking
statements are not based on historical facts, but rather on current
expectations, Company assumptions and projections about future events,
including the completion of the early redemption of the 4.95 per cent
Notes due May 15, 2014, and are therefore subject to risks and
uncertainties which could cause actual amounts, results, performance or
achievements to differ materially from the future results expressed or
implied by the forward looking statements. Such statements are
qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. Company assumptions and risk factors
are listed from time to time in TELUS’ reports, public disclosure
documents, including TELUS’ Management’s discussion and analysis and
Annual Information Form, and in other filings with securities
regulatory authorities in Canada and the United States. Except as
required by law, TELUS disclaims any intention or obligation to update
or revise forward-looking statements.

TELUS (TSX: T, NYSE: TU) is a leading national telecommunications
company in Canada, with $10.9 billion of annual revenue and 13.1
million customer connections including 7.7 million wireless
subscribers, 3.4 million wireline network access lines, 1.4 million
Internet subscribers and 678,000 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.

For more information about TELUS, please visit telus.com.

SOURCE TELUS Corporation

Source: PR Newswire