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Nortel Files Resegmented Financial Information


JUNE 16, 2006, TORONTO - Nortel Networks* Corporation [NYSE/TSX: NT] announced that it and its principal direct operating subsidiary, Nortel Networks Limited (ďNNLĒ), have filed and furnished certain additional information under cover of Form 8-K. This additional information includes new audited consolidated financial statements as of December 31, 2005 and 2004 and for each of the years in the three-year period ended December 31, 2005, restated only to reflect the change in the Companyís and NNLís reportable segments effective January 1, 2006 (which had no impact to the Companyís and NNLís consolidated statements of operations, consolidated balance sheets or consolidated statements of cash flows), as well as the managementís discussion and analysis of financial condition and results of operations section and portions of the business description contained in the Companyís 2005 Annual Report on Form 10-K/A and NNLís 2005 Annual Report on Form 10-K, also revised only to reflect the new reportable segments. Also contained in the Form 8-K is certain supplementary financial and other information. This announcement is being made in accordance with the Companyís disclosure policies adopted pursuant to applicable Canadian regulatory pronouncements.

*Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks.


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