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Press release from CNW Group

Manitoba Telecom Services Inc. Establishes $500 million Medium Term Note Program

Tuesday, August 23, 2011

Manitoba Telecom Services Inc. Establishes $500 million Medium Term Note Program17:06 EDT Tuesday, August 23, 2011WINNIPEG, Aug. 23, 2011 /CNW/ - Manitoba Telecom Services Inc., which includes its principal operating subsidiary, MTS Allstream Inc., (the "Company" or "MTS Allstream") is pleased to announce the establishment of a $500 million medium term note program.  Under this program, the Company may issue medium term notes periodically up to an amount of $500 million over the next 25 months.  The program was established pursuant to a new Trust Indenture dated August 10, 2011.Proceeds from the medium term note program are expected to allow the Company to refinance debt as it becomes due, and are expected to provide the Company with the flexibility to pursue its business strategies.  MTS Allstream is focused on creating and delivering long-term value through prudent investment in its core operations and growth businesses, such as wireless, high-speed Internet, IP television and converged IP.  The Company continues to maintain a strong overall financial position, reflecting the Company's leading market position in Manitoba and leading competitive position in business markets across Canada.About Manitoba Telecom Services Inc. Manitoba Telecom Services Inc., through its wholly-owned subsidiary MTS Allstream Inc., is one of Canada's leading national communication solutions companies, providing innovative communications for the way Canadians live and work today. The Company has more than 100 years of experience, with 5,500 employees across Canada dedicated to a mission of delivering true value as seen through the eyes of our customers. MTS Allstream has nearly two million customer connections spanning business customers across Canada and residential consumers throughout the province of Manitoba. The Company's extensive national broadband and fibre optic network spans almost 30,000 kilometres. Manitoba Telecom Services Inc.'s common shares are listed on the Toronto Stock Exchange (trading symbol: MBT). Customers, stakeholders and investors who want to learn more about MTS Allstream are encouraged to visit: www.mtsallstream.com.Forward-looking Statements DisclaimerThis news release includes forward-looking statements and information (collectively, the "statements") about our corporate direction, business opportunities, operations, financial objectives and future financial results and performance that are subject to risks, uncertainties and assumptions.  As a consequence, actual results in the future may differ materially from any conclusion, forecast or projection in such forward-looking statements. Therefore, forward-looking statements should be considered carefully and undue reliance should not be placed on them. Examples of statements that constitute forward-looking information may be identified by words such as "believe", "expect", "project", "should", "anticipate", "could", "target", "forecast", "intend", "plan", "outlook", "see", "set", "pending", and other similar terms.Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters identified in the "Risks and Uncertainties" section and elsewhere in our interim MD&As for the first and second quarters of 2011, as well as our 2010 annual MD&A, and our Annual Information Form, all of which are available on SEDAR at www.sedar.com.Please note that forward-looking statements reflect our expectations as at the date hereof.  We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.  This news release and the financial information contained herein have been reviewed by our Audit Committee and approved by our Board of Directors.For further information: Media:   Jessica Poitras      Corporate Communications   (204) 941-7823 or   (416) 644-6806   media.relations@mtsallstream.com     Investors:  Rob Hall   Investor Relations   (204) 958-2660   investor.relations@mtsallstream.com