The new agreement, which will go into effect on January 1, 2007, states that Bell will continue to provide Desjardins with communications services, payment services and call centre services until December 31, 2014. The contract is valued at approximately $670 million.

Desjardins has been benefiting from Bell's expertise since 2001, and Bell has successfully provided Desjardins with a fast, effective response to its various Information, Communication and Technology (ICT) needs. For example, IP (Internet Protocol) technology, which allows voice, data and image services to converge on a single infrastructure, is already deployed for some aspects of Desjardins' operations. It will now be necessary to broaden its scope to cover the entire Desjardins network, providing the capability to deal with their expansion needs. Bell's expertise in this area makes it the ideal partner.

"We are delighted to be entering into an agreement of this kind with a partner of Bell's prestige and reputation," stated Fédération des caisses Desjardins du Québec President and COO, Mr. Bertrand Laferrière. "With this new agreement, we can be sure that our telecommunications platform will consistently remain both highly powerful and on the leading edge of technology. This is essential, given that telecommunications are critical to our daily operations."

"We are extremely pleased to continue our partnership with Desjardins Group, a partnership that exemplifies the harmonious collaboration between our two organizations. Bell will provide Desjardins with scalable ICT solutions that will allow them to quickly increase bandwidth and easily add new applications to meet the needs of their ever growing business," said Stéphane Boisvert, President, Enterprise Group, Bell Canada. "A comprehensive outsourced, IP - based communications network will deliver a consistent, superior level of service while ensuring the most efficient use of the entire organization's resources."

The agreement also establishes a sharing of expertise in sustainable development, specifically issues related to residual materials management performance, climate change and responsible procurement. It is also aimed at identifying opportunities to work together to promote sustainable development, including awareness activities.