Nortel
NYSE : NT
TSX : NT

Nortel

June 19, 2008 10:16 ET

Nortel Issues Statement

TORONTO, ONTARIO--(Marketwire - June 19, 2008) - Nortel(1) (TSX:NT)(NYSE:NT) is today issuing a statement in response to RCMP charges against former Nortel executives.

"Nortel has not been charged and was not the target of this investigation. The company has fully cooperated with the RCMP and will continue to do so. This is in relation to former executives of the company who were dismissed for cause in 2004.

"Nortel is rebuilding a great Canadian company while upholding the highest standards of integrity and ethics. Incredible progress has been made in the last few years, and today a new Nortel is emerging under the leadership of a new management team with a proven track record. The company has restored a solid financial controls foundation, is gaining traction with customers and is focused on the future.

"Nortel and its employees are highly determined to compete and win in the marketplace and today's announcement by the RCMP does not distract the company from the work ahead."

About Nortel

Nortel is a recognized leader in delivering communications capabilities that make the promise of Business Made Simple a reality for our customers. Our next-generation technologies, for both service provider and enterprise networks, support multimedia and business-critical applications. Nortel's technologies are designed to help eliminate today's barriers to efficiency, speed and performance by simplifying networks and connecting people to the information they need, when they need it. Nortel does business in more than 150 countries around the world. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.

(1)Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks.

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