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be profi  table. 

The first duty of any corporation is to provide an increasing rate of return to its shareholders. At Bell, we are making the decisions that will result in profi table growth. 

Our recent increase in the per-share dividend refl ects our growing confidence that our strategy is working. This is in large part a result of the lower costs that will come from Galileo. By focusing on simplifying our operations, we intend to lower costs while providing higher levels of customer service. This will unleash our ability to generate profi table growth in all three customer segments. 

## The Broadband Home 

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Millions of Bell consumers are already living in the broad- band future—they just don’t know it. Millions more will be soon. Any house with Bell DSL (Digital Subscriber Line) is connected to the IP network that makes the broadband future a reality. When we complete our Fibre-to-the-Node (FTTN) installation by the end of 2008, a high-speed broad- band connection eight times faster than today’s DSL lines will come through the line into nearly every Bell customer’s house in the Québec City to Windsor corridor. And because of that broadband connection, Bell will be able to offer a wider and more varied selection of services to our customers. 

The Broadband Home will provide consumers with an endless variety of entertainment, education and information options across a variety of digital platforms, including television, home computers and the telephone. And we are making it easy for our customers to choose and use more Bell services. Our 2003 introduction of product bundles allows customers of two or more Bell services (long distance, wireless, video or Internet) to receive special pricing on these product packages, including our revolutionary long distance bundle that allows our customers nearly unlimited long distance calling anywhere in North America for only $5 a month. In 2004, we sold almost 370,000 multi-product bundles. 

