Mason Capital Comments On B.C. Court Decisions

Mason Capital Management LLC (“Mason”) today announced that it will pursue appeals of the decisions rendered yesterday by the Supreme Court of British Columbia regarding the shareholders meeting of TELUS Corporation (TSX:T; TSX:T.A; NYSE: TU) ("TELUS") scheduled for October 17, 2012. Mason believes that these decisions disenfranchise the TELUS voting shareholders. First, a simple majority vote for the voting shareholders on the TELUS arrangement is less than the law of British Columbia and TELUS’ articles require, and less than TELUS offered when it first sought to collapse its dual class structure. Second, as a result of the orders sought and obtained by TELUS, the TELUS arrangement resolution and Mason’s proposals will be put to a vote without voting shareholders having been provided with complete information or a reasonable opportunity to consider and provide instructions on how their shares should be voted.

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