Nortel CRO to Deliver Keynote Speech at ITU-T Next-Generation Network Event

McFadden to Discuss Next-Generation Network Standards and Network Convergence at London Event

NOVEMBER 14, 2005, OTTAWA - Brian McFadden, chief research officer, Nortel* [NYSE/TSX: NT] will deliver a keynote speech titled “NGN Standards: The Key to Success in Convergence” at the upcoming ITU-T event on next-generation networks (NGN).

This keynote, part of the “Market and Business Drivers for NGN,” session, is scheduled for 15:45 on November 18 at the Hilton, Gatwick in London, England. It will address the key role that global standards will play in the successful evolution to next-generation networks. McFadden will emphasize that the key to success will be collaboration, not competition, amongst the various global, national, and regional standards bodies.

McFadden will outline the business drivers for migrating from today’s disparate networks to a next- generation converged network capable of delivering advanced and reliable broadband multimedia services to end users, anywhere, anytime, from any device. The next-generation network will be more efficient to operate, easier to use, and result in lower operating costs for service providers. It will also deliver the multimedia, mobility, personalization, and security services end users value and carriers find profitable.

“The next generation network must offer a full range of services across all network types, spanning wireless, wireline, packet, voice, and optical technologies,” McFadden said. Nortel is well-positioned to take a leadership role in building the ’Next-Generation Network Experience’ for our customers to meet the needs of both their business and residential end users. Our competitive advantage for our customers is the know-how to design, install, operate, and evolve these sophisticated networks. Very few other vendors have this breadth of capability"

Nortel has been a core contributor to the ITU-T FGNGN since its inception, holding several leadership positions. Nortel is also a key contributor to the regional NGN standards work underway in the Alliance for Telecommunications Industry Solutions (ATIS) and European Telecommunications Standards Institute (ETSI). Through participation in all of these standards bodies, Nortel is helping drive the creation of a unified global NGN standard.

Nortel’s next-generation network architecture embraces the NGN standards work underway in the ITU-T, ATIS and ETSI. It is a comprehensive, converged multimedia network architecture focused on providing real business value to carriers and their end customers.

Nortel is a member of more than 85 global standards organizations, forums and consortia worldwide - spanning IT and telecom - and holds leadership positions in approximately 40 percent of them.

Media and analysts interested in scheduling one-on-one executive briefings or attending the event should contact Duncan McKean at Duncan.mckean@pleon.com or Toby Johnson at toby.johnson@itu.int with the ITU.

About ITU NGN Event

The event will present an overview of NGN work so far, details on future directions, and some of the key business drivers for NGN. In addition to announcing completion of work on the Release 1 standards for NGN by ITU-T’s Focus Group on Next-Generation Networks (FGNGN), the event will communicate the next phase of NGN work, dubbed the NGN Global Standards Initiative (NGN-GSI).

About ITU

ITU is a world-wide organization which brings governments and industry together to coordinate the establishment and operation of global telecommunication networks and services; it is responsible for standardization, coordination and development of international telecommunications including radio communications, as well as the harmonization of national policies.

To fulfill its mission, ITU adopts international regulations and treaties governing all terrestrial and space uses of the frequency spectrum as well as the use of all satellite orbits which serve as a framework for national legislations; it develops standards to foster the interconnection of telecommunication systems on a worldwide scale regardless of the type of technology used; it also fosters the development of telecommunications in developing countries.

ITU also organizes worldwide and regional exhibitions and forums bringing together the most influential representatives of government and the telecommunications industry to exchange ideas, knowledge and technology for the benefit of the global community, and in particular the developing world.

About Nortel

Nortel is a recognized leader in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the world’s most critical information. Serving both service provider and enterprise customers, Nortel delivers innovative technology solutions encompassing end-to-end broadband, Voice over IP, multimedia services and applications, and wireless broadband designed to help people solve the world’s greatest challenges. Nortel does business in more than 150 countries. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.

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Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the outcome of regulatory and criminal investigations and civil litigation actions related to Nortel’s restatements and the impact any resulting legal judgments, settlements, penalties and expenses could have on Nortel’s results of operations, financial condition and liquidity, and any related potential dilution of Nortel’s common shares; the findings of Nortel’s independent review and implementation of recommended remedial measures; the outcome of the ongoing independent review with respect to revenues for specific identified transactions, which review will have a particular emphasis on the underlying conduct that led to the initial recognition of these revenues; the restatement or revisions of Nortel’s previously announced or filed financial results and resulting negative publicity; the existence of material weaknesses in Nortel’s internal control over financial reporting and the conclusion of Nortel’s management and independent auditor that Nortel’s internal control over financial reporting is ineffective, which could continue to impact Nortel’s ability to report its results of operations and financial condition accurately and in a timely manner; the impact of Nortel’s and NNL’s failure to timely file their financial statements and related periodic reports, including Nortel’s inability to access its shelf registration statement filed with the United States Securities and Exchange Commission (SEC); the impact of management changes, including the termination for cause of Nortel’s former CEO, CFO and Controller in April 2004; the sufficiency of Nortel’s restructuring activities, including the work plan announced on August 19, 2004 as updated on September 30, 2004 and December 14, 2004, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the estimated costs of such actions; cautious or reduced spending by Nortel’s customers; increased consolidation among Nortel’s customers and the loss of customers in certain markets; fluctuations in Nortel’s operating results and general industry, economic and market conditions and growth rates; fluctuations in Nortel’s cash flow, level of outstanding debt and current debt ratings; Nortel’s monitoring of the capital markets for opportunities to improve its capital structure and financial flexibility; Nortel’s ability to recruit and retain qualified employees; the use of cash collateral to support Nortel’s normal course business activities; the dependence on Nortel’s subsidiaries for funding; the impact of Nortel’s defined benefit plans and deferred tax assets on results of operations and Nortel’s cash flow; the adverse resolution of class actions, litigation in the ordinary course of business, intellectual property disputes and similar matters; Nortel’s dependence on new product development and its ability to predict market demand for particular products; Nortel’s ability to integrate the operations and technologies of acquired businesses in an effective manner; the impact of rapid technological and market change; the impact of price and product competition; barriers to international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of rationalization and consolidation in the telecommunications industry; changes in regulation of the Internet; the impact of the credit risks of Nortel’s customers and the impact of customer financing and commitments; general stock market volatility; negative developments associated with Nortel’s supply contracts and contract manufacturing agreements, including as a result of using a sole supplier for a key component of certain optical networks solutions; the impact of Nortel’s supply and outsourcing contracts that contain delivery and installation provisions, which, if not met, could result in the payment of substantial penalties or liquidated damages; any undetected product defects, errors or failures; the future success of Nortel’s strategic alliances; and certain restrictions on how Nortel and its president and chief executive officer conduct business. For additional information with respect to certain of these and other factors, see the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed by Nortel with the SEC. Unless otherwise required by applicable securities laws, Nortel disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

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Contact Information

Jamie Moody

Nortel

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