Bell Aliant Regional Communications Income Fund (the Fund), is a Canada-based, open-ended, limited purpose trust. The Fund holds investments in subsidiaries that operate one of the regionally focused telecommunications service providers in North America. On January 1, 2008, the Fund transferred a 36.7% indirect interest in Telebec, Limited Partnership (Telebec) and NorthernTel Limited Partnership (NorthernTel) to its subsidiary, Bell Aliant Holdings LP. As a result of these transactions, the Company indirectly own a 82.5% interest in Bell Aliant Holdings LP, which in turn consolidates the financial results of Bell Aliant Regional Communications, Limited Partnership (Bell Aliant LP), Telebec and NorthernTel. In May 2009, CAE, Inc. acquired Bell Aliant's Defence, Security and Aerospace (DSA) business unit, operated by the xwave division of Bell Aliant LP.