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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (6562)	2/11/2002 12:28:28 PM
From: Al Collard	Respond to of 11802

BI-t...in the news: Bell Canada Int'l determines recapitalization prices Mon 11 Feb 2002 Mr. Brian Quick reports PRELIMINARY PRICES FOR UPCOMING BCI SHARE ISSUANCES DETERMINED Bell Canada International has released the preliminary results of the averaging period being used to determine the prices at which common shares will be issued pursuant to the recapitalization plan as reported in Stockwatch Dec. 3, 2001. Under the recapitalization plan, common shares will be issued upon the automatic exercise of the principal warrants issued to BCI shareholders who exercised their rights in the recently completed rights offering of BCI. In addition, common shares will be issued in payment of the principal amount of $400-million owing under BCI's 6.75-per-cent and 6.5-per-cent convertible debentures, and to BCE with respect to the conversion of the principal and interest of approximately $78-million owing under a convertible loan to BCI. The weighted average price for the 20-day trading period of Jan. 14, 2002, to Feb. 8, 2002, based on preliminary data provided by the Toronto Stock Exchange up to and including Feb. 8, 2002, is 28.9 cents per share. The final calculation of the weighted average trading price will be completed on Wednesday, Feb. 13, 2002, and will reflect any corrections relating to this period processed by the TSE subsequent to Feb. 8. Based on this preliminary average price, BCI will issue approximately 2,995 million shares to holders of principal warrants issued in connection with BCI's rights offering, approximately 1,455 million shares to the holders of BCI's 6.75-per-cent and 6.5-per-cent convertible debentures, and approximately 271 million shares to BCE with respect to the conversion of its convertible loan to BCI. BCE's percentage ownership interest in BCI would be approximately 62.3 per cent after giving effect to the issuance of these shares, all of which will take place on Feb. 15, 2002. The number of BCI common shares to be issued on Feb. 15 in connection with the transactions described above does not reflect any shares that may be issued to American International Group, Inc. or any of its affiliates in satisfaction of its put right and pursuant to the exercise of the antidilutive secondary warrants which were issued to BCI shareholders who exercised their rights. BCI, through Telecom Americas, owns and operates four Brazilian B band cellular companies serving more than 4.3 million subscribers in territories of Brazil with a population of approximately 60 million. BCI is a subsidiary of BCE, Canada's largest communications company.