TELUS announces price for early partial redemption of 2011 Notes Notes to be redeemed on September 2, 2010

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Aug 30, 2010, 05:58 ET

VANCOUVER, Aug. 30 /PRNewswire-FirstCall/ - TELUS Corporation announced today that it has determined the redemption price of its partial 45.024% redemption on September 2, 2010 of US$613 million principal amount of its outstanding US$1.3615 billion 8% notes due June 1, 2011 (CUSIP # 87971MAC7). The early redemption notice for these Notes was previously announced on July 27, 2010.

The redemption price, which is payable on September 2, 2010, is based on the Adjusted United States Treasury Yield plus 30 basis points, as provided in the trust indenture pursuant to which such notes were issued in May 2001. Note holders will also receive accrued interest to the September 2, 2010 redemption date.

The following is the redemption price and amount per US$1,000 of principal amount for these Notes:

Redemption Price: US$1,055.64

Accrued and unpaid interest: US$20.22

Total Redemption Amount: US$1,075.86

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

About TELUS

TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications company in Canada, with $9.6 billion of annual revenue and 12 million customer connections including 6.7 million wireless subscribers, 3.8 million wireline network access lines and 1.2 million Internet subscribers and 228,000 TELUS TV customers. Led since 2000 by President and CEO, Darren Entwistle, TELUS provides a wide range of communications products and services including data, Internet protocol (IP), voice, entertainment and video.

SOURCE TELUS Corporation