TELUS to early redeem US$ 8% Notes due June 1, 2011

Friday, Jul 30, 2010

TELUS Corporation
announced that it has given notice today of a partial redemption on
September 2, 2010 of US$613 million or approximately 45.024% of its
outstanding US$1.3615 billion 8% Notes due June 1, 2011 (CUSIP No.
87971MAC7). The redemption price will be based on the Adjusted United States
Treasury Yield, 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 redemption date.

On completion of the redemption, the Global Debt Security held by The
Depository Trust Company (DTC) will be reduced by approximately 45.024% such
that the amount outstanding will be reduced to US$748.5 million.
Consistent with DTC practice in the United States for partial early
redemption of debt issues, the individual book entry holdings to be redeemed
will be selected on a lottery basis by DTC.

TELUS will fund the partial early redemption using proceeds from its
recently completed issue of C$1 billion 5.05% 10-year Notes and/or funds
available under its existing credit facilities.

This news release is for informational purposes only and does not constitute
an offer to buy or sell, or the solicitation of an offer to buy, or sell,
any securities.

Source: Canada Wire