Prime Minister Appoints Jean Monty as New Chair of Canada Millennium Scholarship Foundation

Prime Minister Jean Chrétien is pleased to announce that Mr. Jean Monty, President and Chief Executive Officer of BCE Inc., has accepted his invitation to Chair the Canada Millennium Scholarship Foundation. Beginning in the year 2000, the Foundation will be responsible for awarding the Canada Millennium Scholarships; a centrepiece of the government's new Canadian Opportunities Strategy, which was outlined in the 1998 Budget.

"I am very pleased that Mr. Monty has accepted this important position," said the Prime Minister. "He has enjoyed a distinguished career in telecommunications, an area in which Canada is a world leader. He has a deep understanding of the challenges that face our country in the new economy. Especially our need for a well-educated and highly-skilled work force. This perspective and his outstanding executive skills make him an ideal Foundation Chair."

"I am honoured that the Prime Minister has asked me to serve as the Chair of the Millennium Scholarship Foundation," said Mr. Monty. "I can think of no more important or rewarding mission than that of helping young Canadians achieve their dreams of a higher education and of prospering in the new economy."

The Foundation will manage the initial $2.5 billion Government of Canada endowment and award 100,000 needs-based scholarships each year over 10 years. The Millennium Scholarships endowment is the single largest investment ever made by a Canadian government to support access to knowledge and skills for all Canadians.

Mr. Monty will Chair the Foundation's Board of Directors, which will be made up of private citizens. The Foundation will consult with provinces and the post-secondary community with the goal of having the Scholarships work as a complement to provincial student assistance programs.

Resume attached.

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Jean C. Monty was appointed President and Chief Executive Officer of BCE Inc. effective May 6, 1998. He joined BCE on October 1st, 1997, when he was appointed President and Chief Operating Officer and a director of the company. He is also Chairman and Chief Executive Officer of Bell Canada.

Prior to joining BCE Inc., Mr. Monty was Vice-Chairman and Chief Executive Officer of Nortel (Northern Telecom Limited). He joined Nortel in October, 1992, as President and Chief Operating Officer, becoming President and Chief Executive Officer in March, 1993, then Vice-Chairman and Chief Executive Officer in February, 1997. Mr. Monty began his career at Bell Canada in 1974 and has held various positions in the BCE group including Chairman and Chief Executive Officer of Bell Canada and Executive Vice-President at BCE Inc. where he was responsible for BCE's investments in Teleglobe, BCE Mobile and Bell Canada International.

Mr. Monty is a member of the board of directors of Northern Telecom Limited, BCE Capital Inc., Cable and Wireless pic (England), BCE Mobile Communications Inc., Telesat Canada, ExpressVu Inc., Bell Canada International Inc., Tele-Direct (Publications) Inc., the Bank of Montreal, Teleglobe Canada Inc., the supervisory board of the Lagardère Groupe in Paris, the board of directors of SNC-Lavalin, and the board of directors of ICL PLC in London, England.

Mr. Monty has been named a member of the Order of Canada for his contributions to business, policy and community affairs. He is a member of the Executive Committee of the Business Council on National Issues.

In recognition of his achievements, Mr. Monty has been named Canada's Outstanding CEO of the Year for 1997.

Mr. Monty holds a bachelor of arts degree, a master of arts in economics from the University of Western Ontario, and a master of business administration from the University of Chicago.


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