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Offer to purchase CLEARNET.pdf - About TELUS

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COMPILATION REPORT<br />

To the Direc<strong>to</strong>rs of <strong>TELUS</strong> Corporation<br />

We have reviewed, as <strong>to</strong> compilation only, the accompanying unaudited pro forma consolidated balance<br />

sheets of <strong>TELUS</strong> Corporation as at December 31, 1999 and June 30, 2000 and the unaudited pro forma<br />

consolidated statements of income for the year ended December 31, 1999 and the six months ended June 30,<br />

2000 which have been prepared for inclusion in the <strong>Offer</strong>s <strong>to</strong> Purchase of <strong>TELUS</strong> Corporation dated<br />

September 20, 2000 relating <strong>to</strong> the <strong>purchase</strong> of outstanding Class A Non-Voting Shares, Class B Shares, Class C<br />

Subordinate Voting Shares and Class D Subordinate Voting Shares of Clearnet Communications Inc. In our<br />

opinion, the unaudited pro forma balance sheets and statements of income have been properly compiled <strong>to</strong> give<br />

effect <strong>to</strong> the proposed acquisition and the assumptions described in the accompanying notes there<strong>to</strong>.<br />

ARTHUR ANDERSEN LLP<br />

Chartered Accountants<br />

Vancouver, Canada<br />

September 20, 2000<br />

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