MTS Allstream Closes $51 Million Sale Leaseback of Winnipeg Offices

MTS Allstream Web Site - December 28, 2006

MTS Allstream Inc., a wholly-owned subsidiary of Manitoba Telecom Services Inc. (“MTS”) (stock symbol: MBT), today announced the closing of a transaction regarding the sale of the Company’s downtown office buildings located at 333 Main Street and 191 Pioneer Avenue in Winnipeg with Crown Realty Investments Ltd. for a price of $51.1 million. As part of this transaction, MTS Allstream has signed a 15 year lease to leaseback the office space it currently occupies, which will continue to be the Company’s head office.

"We are pleased to complete this transaction involving properties which we identified as non-core during our business review process," said MTS Allstream Chief Financial Officer Wayne Demkey. "This transaction represents good value for these assets, and will help us deliver significant value to our shareholders." Sphere: Related Content