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Press release from CNW Group

Manitoba Telecom Services Holds Annual General Meeting of Shareholders

Thursday, May 10, 2012

Manitoba Telecom Services Holds Annual General Meeting of Shareholders13:26 EDT Thursday, May 10, 2012CEO says 2012 will be a year of continued focus on proven strategies Major sponsorship agreement announced with the Winnipeg Art Gallery Stock Symbol:  MBTWINNIPEG, May 10, 2012 /CNW/ - Manitoba Telecom Services Inc. (the "Company" or "MTS Allstream"), today told shareholders at its Annual Meeting that the Company plans to continue to focus on its strategies established in 2010 and reported that these strategies are yielding positive results. Held in the Muriel Richardson Auditorium at the Winnipeg Art Gallery, the meeting included the election of the board of directors and presentations about the Company's results and strategy by Chair, David Leith and Chief Executive Officer, Pierre Blouin."2011 was a successful year for MTS Allstream," said Chief Executive Officer Pierre Blouin.  "The Company performed well and realized significant growth in earnings and cash flow.  We saw strong increases in revenues and subscribers across our key products: wireless, IPTV and Internet in Manitoba and converged IP nationally. Our strategy was clear and all our employees were focused on MTS remaining the market leader in Manitoba by providing the most advanced products to Manitobans, and nationally, by growing Allstream converged IP products."Mr. Blouin also discussed the importance of the Company's national 30,000 km fibre network as a key competitive advantage to the Company's future.  For MTS, he said the investment in its fibre-to-the-home technology and high-speed wireless data networks would continue to position MTS as telecom supplier of choice in Manitoba, allowing MTS to provide the most innovative IPTV, wireless, and Internet services combined in unmatched bundles for years to come.  For Allstream, he highlighted the focus on driving IP growth in Canada's business market as the main driver in its continued transformation. Mr. Blouin also commented on the recent changes in the regulatory environment, specifically the loosening of foreign investment restrictions in Canadian telecom, indicating that it is a positive development for MTS Allstream.In addition to reviewing its strong involvement and support nationally and in multiple communities in Manitoba, the Company also announced an important sponsorship agreement with the Winnipeg Art Gallery as it celebrates its 100th anniversary."As we are pleased to host our AGM in the Muriel Richardson Auditorium, it gives us a wonderful opportunity to announce a significant relationship with the Winnipeg Art Gallery," said Mr. Blouin. "This year marks the 100th anniversary of this important Manitoba institution, and we are thrilled to be taking a substantial role in supporting the many activities and events that are planned to celebrate this occasion."The Company's returning directors include Pierre Blouin, Jocelyne M. Côté-O'Hara, N. Ashleigh Everett, The Honourable Gary A. Filmon, Gregory J. Hanson, Kishore Kapoor, David G. Leith, H. Sanford Riley, D. Samuel Schellenberg and Carol M. Stephenson.  It was announced that Donald H. Penny, a Director since 1997 and Chair of the Audit Committee, would be retiring from the Board as he had reached the Board's mandatory retirement age.  Kishore Kapoor is replacing Mr. Penny as Chair of the Audit Committee.Also at today's meeting, the Company held its first advisory vote on executive compensation, or "say on pay". The Company and its Board of Directors were pleased that the resolution was approved by approximately 95% of the Company's shareholders.Deloitte & Touche LLP was reappointed as the auditors of the Company. Additional information on the business of the meeting is contained in the Company's2012 Management Information Circular, which was filed and mailed to shareholders. For more information on the Annual Meeting and a copy of the Chair's and CEO's remarks, visit the Investors section of www.mtsallstream.com.Manitoba Telecom Services Inc. (MTS Allstream)MTS Allstream 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. MTS Allstream's business is dynamic and consists of two operating divisions.  In Manitoba, MTS is the leading full-service telecommunications provider for residential and business customers. MTS's suite of services include the latest in wireless technology, broadband services, IPTV, voice services, home security, and an extensive range of business solutions. Across Canada, Allstream is a leader in IP communications and is the only national provider that focuses exclusively on the business telecommunications market. 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 fibre optic network spans more than 30,000 kilometres. MTS Allstream has spent 11 consecutive years on the Jantzi Social Index for leadership in social responsibility and is the recipient of the 2011 Governance Gavel Award from the Canadian Coalition for Good Governance, recognizing clear and effective public disclosure and leading governance practices. MTS Allstream's common shares are listed on the TSX (trading symbol: MBT).  Customers, stakeholders and investors who want to learn more about MTS Allstream are encouraged to visit: www.mtsallstream.com.  For more information about MTS's products and services, please visit: www.mts.ca. For more information about Allstream's products and services, please visit: www.allstream.com.Forward-looking Statements DisclaimerThis news release includes forward-looking statements and information (collectively, the "statements") about the Company's 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 "Material assumptions" section below, the "Risks and uncertainties" section, elsewhere in the Company's 2011 Annual MD&A and 2011 Annual Information Form, all of which are available on SEDAR at www.sedar.com.Please note that forward-looking statements reflect Management's expectations as at the date hereof. The Company disclaims 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.For further information: Media:        Selena Hinds Corporate Communications (204) 941-8576 (416) 345-3576 media.relations@mtsallstream.com Investors:    Paul Peters Investor Relations (204) 941-6178 investor.relations@mtsallstream.com