Nortel

Nortel

March 30, 2005 09:01 ET

Nortel Launches Discussion Series to Examine Impact of Communications Convergence on Public Policy and Society


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NORTEL

NYSE, TSX SYMBOL: NT

MARCH 30, 2005 - 09:01 ET

Nortel Launches Discussion Series to Examine Impact of
Communications Convergence on Public Policy and Society

WASHINGTON--(CCNMatthews - Mar 30, 2005) -

First Event to Feature Telecommunications Industry Executives and
Authorities

Nortel (NYSE:NT) (TSX:NT) today announced that it will host a series of
discussions examining the power of convergence and its economic, public
policy and social ramifications.

The series, entitled "Perspectives on the Power of Telecommunications
Convergence and Solving the Policy Conundrum," begins today on Capitol
Hill. Nortel's president of Global Operations, Sue Spradley, will lead
the discussion as panelists explore the convergence phenomenon and its
technological and policy enablers.

Through convergence, multiple voice and data networks are converged into
a single network based on Internet Protocol (IP), a standardized method
for transmitting all information across the Internet in packets of data.
A converged network delivers voice, data, video and other applications
together to provide business and consumers with a range of
communications options that can be personalized for 'anywhere, anytime'
secure access using 'any' communications device -- computer, PDA or cell
phone.

"Convergence is much more than a new technology innovation," Spradley
said. "It's a catalyst for societal change that affects the way we live,
work and play."

Nortel plans to host these discussions periodically throughout the year
bringing together policymakers, industry executives and other subject
matter experts.

"Understanding the impact of technological convergence is vital as
Congress and the FCC wrestle with the legislative and regulatory
implications of the convergence phenomenon," said Ray Strassburger, vice
president, Global Government Relations, Nortel. "We hope over the next
months that these discussions will add important information and
perspective to the policy debates."

Nortel's 'kickoff' event takes place today, March 30, 2005, in room
B-339 of the Rayburn House Office Building at noon local (Eastern) time.
Other speakers at the kickoff event will include Randy May, Senior
Fellow and Director of Communications Policy Studies at the Progress and
Freedom Foundation and Link Hoewing, Assistant Vice President, Internet
Technology Policy and Business Support Planning, Verizon Communications.

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.

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; the findings of Nortel's independent
review and implementation of recommended remedial measures; the outcome
of the 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 controls over
financial reporting; the impact of Nortel's and NNL's failure to timely
file their financial statements and related periodic reports, including
breach of its support facility and public debt obligations and Nortel's
inability to access its shelf registration statement filed with the
United States Securities and Exchange Commission ("SEC"); ongoing SEC
reviews, which may result in changes to our public filings; the
potential delisting or suspension of Nortel's and NNL's publicly traded
securities; 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,
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; 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 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; stock market volatility generally
and as a result of acceleration of the settlement date or early
settlement, which is currently not available, of Nortel's forward
purchase contracts; 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; and the future success of Nortel's strategic
alliances.

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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