Mr. Jean Robillard reports

BCE REPORTS RESULTS OF CONVERSION OF ITS SERIES AO PREFERRED SHARES INTO SERIES AP PREFERRED SHARES

None of BCE Inc.'s fixed-rate cumulative redeemable first preferred shares, Series AO, will be converted into floating-rate cumulative redeemable first preferred shares, Series AP, on March 31, 2017.

On March 1, 2017, BCE notified holders of Series AO preferred shares that they could elect to convert their shares into Series AP preferred shares subject to the terms and conditions attached to those shares. Only 104,631 of BCE's 4.6 million Series AO preferred shares were tendered for conversion on March 31, 2017, into Series AP preferred shares. As this would result in there being less than one million Series AP preferred shares outstanding, no Series AO preferred shares will, as per the terms and conditions attached to those shares, be converted on March 31, 2017, into Series AP preferred shares.

The Series AO preferred shares will continue to be listed on the Toronto Stock Exchange under the symbol BCE.PR.O. The Series AO preferred shares will pay on a quarterly basis, for the five-year period beginning on March 31, 2017, as and when declared by the board of directors of BCE, a fixed quarterly cash dividend based on an annual dividend rate of 4.26 per cent.

About BCE Inc.

Canada's largest communications company, BCE provides broadband wireless, TV, Internet and business communication services from Bell Canada and Bell Aliant. Bell Media is Canada's premier multimedia company with leading assets in television, radio, out-of-home and digital media.