11.05.2006 – 19:55

Nortel Networks

Advisory - Nortel Business Update Teleconference

Toronto, Canada (ots/PRNewswire)

    8:30 a.m. Eastern Time
    Tuesday, May 16, 2006
 www.nortel.com
    What:     Nortel will host a teleconference/audio webcast with the
              investment community.
    Who:      Mike Zafirovski, President and Chief Executive Officer
              Peter Currie, Executive Vice President and Chief Financial
              Officer
              Terry Glofcheskie, Vice President Investor Relations
    When:     8:30 a.m. ET, Tuesday, May 16, 2006
    Where:    To participate via the teleconference, please call the
              following numbers at least 15 minutes prior to the start of the
              event.
                 -  North America 1-800-681-7958
                 -  International 1-212-231-6020
              To participate via the audio webcast, please visit the
              following webpage at least 15 minutes prior to the start of the
              event. http://www.nortel.com/businessupdate
    Replay:   You can listen to the replay at:
                 -  North America 1-800-383-0935
                    Passcode: 21290984 followed by the number sign.
                 -  International 1-402-530-5545
                    Passcode: 21290984 followed by the number sign.
              Audio webcast replay:
              http://www.nortel.com/businessupdate

Contact:

For further information: Investor Relations - (888)-901-7286,
+1-(905)-863-6049, investor@nortel.com; Media Relations - Patricia
Vernon, +1-(905)-863-1035, patricve@nortel.com