Toronto, Canada (ots/PRNewswire)

     What:              Nortel (NYSE: NT) will provide an update on advances
                        to the execution of its business plan.
     Who:               -  Mike Zafirovski, president and CEO, Nortel
                        -  Richard Lowe, president, Mobility and Converged
                           Core Networks, Nortel
     When:              9:00 am (ET), Friday, September 1, 2006
     Where:             To take part in the Webcast, please visit -
                        http://www.nortel.com/mediaevent
                        To participate in audio teleconference, please call
                        -  1-888-211-4395 (North America ONLY)
                        -  1-416-620-2417 (International)
                        Please dial in at least 15 minutes prior to the start
                        of the event.
     What you'll need:  What You Need To "Attend" the Webcast -
                        -  A Pentium PC P133 or faster
                        -  Sound card with speakers or headphones
                        -  28.8 Kbps modem or higher
                        -  RealPlayer G2 required, available at www.real.com
     Archived Files:    A replay of webcast will be available at 12:00 pm ET
                        at http://www.nortel.com/mediaevent
                        A replay of the audioconference will be available at
                        12:00 pm ET at 1-800-383-0935 (North America) or
                        1-402-530-5545 (International), passcode 21302444
                        followed by the number sign until 5:00 pm ET,
                        September 20, 2006.

Contact:

For further information: North America: Jay Barta, +1-(972)-685-2381,
jbarta@nortel.com; Investors: +1-(888)-901-7286, +1-(905)-863-6049,
investor@nortel.com; Europe: Isabelle Tadmoury, +33-1-69-55-12-91,
tadmoury@nortel.com