2004 Media & Telecom Conference

George CopePresident & CEO, TELUS Mobility

September 14, 2004

2004 Media & Telecom Conference

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This presentation and answers to questions contain forward-looking statements about expected future events and financial and operating results that are subject to risks and uncertainties. TELUS’ actual results, performance, or achievement could differ materially from those expressed or implied by such statements. For additional information on potential risk factors including those associated with the potential completion of the Microcell bid, see TELUS’ Annual Information Form, the Offers to Purchase and Circular, and other filings with securities commissions in Canada and the United States.

TELUS disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

All dollars in C$ unless otherwise specified.

forward-looking statement

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about TELUS Mobility

31.8M: Cdn. PopulationLicensed POPs:

29.7M (93%)Network coverage:

Verizon Wireless & NextelStrategic relationships:

best in North AmericaSpectrum position:

only one in Canada (Nextel in US)iDEN Mike network:

coast to coast 1XCDMA footprint:

$1.05B to 1.1B ( 29 to 35%)EBITDA (2004E)1 :

$2.675 to 2.725B ( 13 to 16%)Revenue (2004E)1 :

3.6MSubscribers:

leading Canadian national wireless provider

1 Guidance provided August 6, 2004

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Canadian subscriber growth re-accelerating

Q2-04Q2-03

4.4%3.5%Penetration gain

1.5M1.2MNet subscriber additions

31.8MPopulation 31.5M

13.9MCdn wireless market 12.4M

43.8%39.4%Penetration

12ME

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Source: Industry analysts

2003

42%

2007E

55-59%

2004

~46%

13.4Msubs

18-19Msubs

~15Msubs

4 million or more net adds expected over next 3 yrs

Canadian wireless penetration growth prospects

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$1,617M$1,213M

YTD Q2-04YTD Q2-03

TELUSMobility 31%

TELUSMobility 33%

Source: Company reports. 1 Sum of reported wireless EBITDA for BCE, Rogers Wireless, Microcell and TELUS Mobility

Industry EBITDA up 33% YTD

Total industry EBITDA1

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TELUS Mobility EBITDA & cash flow growth

56% compounded EBITDA growth rate over four years

1 Guidance provided August 6, 2004

$173

$815

20032000

$356

2001

$535

2002

$1,050 to 1,1001

2004E

$(360)

$455

$(288)

$6751

$75

EBITDA

EBITDA less capex($M)

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Net additions

Net additions up 12% YTD, with 35% postpaid growth

YTD Q2-03

170K

YTD Q2-04

Prepaid

Postpaid

190K

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Network revenue growth

Network revenue up 20%. Total revenue up 19%

YTD Q2-03

$1,019M

YTD Q2-04

$1,218M

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TELUS Mobility BCE WirelessRogers Wireless

$55

$46$45

Source: Company reports

$58

$48$49

Microcell

$38 $39

ARPU - continued industry leadership

YTD Q2-03

YTD Q2-04

significant premium with positive industry-wide trend

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Price changes continue to roll through the base per minute billing - Jul-02 evening & weekend clock change - Jul-03 select calling features - Jul-04

minutes of use up 21% in 2003, 14% YTD Q2-04 expanding data offering (intercarrier SMS, 1X & RIM) roaming/resale agreements Verizon’s preferred Canadian PCS roaming partner iDEN roaming with Nextel in U.S.

ARPU drivers

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Continued focus on retention evident with postpaid churn down to 1.0% in Q2

Churn low & stable

YTD Q2-03 YTD Q2-04

1.4% 1.4%

blended monthly churn

YTD Q2-03 YTD Q2-04

1.2%1.1%

postpaid-only churn

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3 year contracts improved coverage

significant improvement in drop call rate expanded national footprint

better phones grandfathered rate plans dedicated retention team excellent customer care levels

Churn reduction drivers

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9%11%COA/ Lifetime revenue

1.4%1.4%Blended churn

$58ARPU $55

$382COA $427

YTD Q2-04YTD Q2-03

$4,100

-

$3,900Lifetime revenue

Subscriber economics continue to improve

profitable subscriber growth

15EBITDA growth of 41% & EBITDA margin of 44%

EBITDA growth & margin expansion

Wireless EBITDA

YTD Q2-04

$380M

37%

44%

$534M EBITDA margin1

(network revenue)

YTD Q2-03

1 EBITDA margin on total revenue 34% YTD Q2-03, and 41% YTD Q2-04

16TELUS achieving profitable subscriber growth

$737M1.5M

12ME Q2-04 EBITDA growth

12ME Q2-04subscriber growth

Source: Company reports. Sum of reported net adds & wireless EBITDA for BCE, Rogers Wireless, Microcell, TELUS Mobility

TELUSMobility

40%31%

TELUSMobility

Profitable subscriber growth strategy

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Wireless capex

10%

Capex intensity(total revenue)

YTD Q2-04

$132M

12%

$129M

YTD Q2-03

Capex intensity declining

Continued improvement in capex intensity

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Leading spectrum position - minimal cell splitting CDMA/1X roaming/resale agreements in Central &

Eastern Canada Network digitization largely complete 1X network implemented, voice capacity improvement Mike (iDEN) network largely built out

Capex drivers

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Wireless cash flowYTD Q2-04

$248M

$405M

YTD Q2-03

Cash flow (EBITDA less capex)

Cash flow increased by $158 million or 64% in 1H04

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13%Capex intensity2

EBITDA margin (total revenue) 39-40%

Cash flow yield3 26-27%

2004E1

1 Based on current public guidance2 Capex as % of total revenue3 EBITDA less capex, as a % of total revenue

EBITDA margin (network revenue) 42-43%

9.8%

40.5%

30.7%

YTD Q2-04

43.8%

operating cash flow yield

Attractive wireless cash flow yield above plan YTD

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31%

21% 20%17%

13% 11%

5%

(1)%

TELUS

Nexte

l

Rogers

Verizo

n

PCS

Cingula

r

AWE

T-Mob U

SA

YTD cash flow yield - North America

Source: Company reports

EBITDA less Capex / Total Revenue

Implied cash flow yield of 26 to 27% in 2004 is best in class

(38)%

Microcell

what’s new?

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Text messaging

Canadians are sending more than 1.1 million text messages a day, up 100% year over year

By 2006, an estimated one billion messages will be sent worldwide every day

Canadians now send more than 50M text messages per month

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Fastap

TELUS Mobility exclusive

World’s first phone and full keypad

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Picture messaging award-winning marketing

campaign

significant share of sales by end of 2004

early usage stats encouraging

Worldwide

29 billion digital images captured this year

2003: One in six wireless phones sold had digital camera

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Download delights

Disney Hockey

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BlackberryNew devices, US roaming on both iDEN & PCS

Blackberry 7750Blackberry 7510 - iDEN

Pushto

Talk

Colourscreen

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North American iDEN Direct Connect

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Attractive industry fundamentals Canadian wireless penetration accelerating No restrictions on spectrum holdings Wireless data market exploding ARPU up, churn down across industry Margins in excess of 40% Free cash flow yields expanding

TELUS Mobility is the most profitable wireless carrier in North

America

Conclusion

questions?

investor relations1-800-667-4871

telus.com ir@telus.com