Nortel Appoints John J. Roese as Chief Technology Officer Industry Visionary to Lead Nortel Innovation Engine

Toronto (ots/PRNewswire) - Nortel(x) (NYSE/TSX: NT) today
announced the appointment of John J. Roese as Chief Technology
Officer.

Roese, a respected industry visionary and recognised authority on
network convergence and emerging technologies, will be responsible
for the Company's overall R&D strategy and execution, directing
future research across all product portfolios. In addition, he will
work closely with the Chief Strategy Officer on emerging
technologies, market opportunities and strategic partnerships.

"I'm pleased to announce the final appointment to my senior
leadership cabinet, signing up John Roese to the key position of
Chief Technology Officer," said Zafirovski. "Nortel has a rich and
powerful heritage in innovation. As CTO, John will represent the
heart and soul of that innovation engine and become the spiritual
leader for our more than 12,000 engineers and developers.

"In John I have found both a technology visionary and a
results-oriented leader with a proven track record in driving
technology strategy, product line rationalisation and engineering
process realignment. He will play a pivotal role on the team as we
work together to drive leadership in next-generation mobility,
enterprise infrastructure, and services and applications," said
Zafirovski.

Roese has almost two decades of experience in networking and
security, voice over Internet Protocol (VoIP), wireless technology
and machine-to-machine communications. In addition, Roese is the
inventor on 16 granted and pending patents in the area of policy
management, location based networking and other areas of
communications.

Roese joins Nortel from Broadcom Corporation, where he was vice
president and CTO for networking technologies with a focus on unified
communications. Previously, as executive vice president and CTO at
Enterasys Networks, he was the principal architect of Enterasys' User
Personalised Networking and Secure Networking, and oversaw both
long-term and tactical technology strategy. As CTO and Deputy CTO of
Cabletron, Roese was one of the key architects of Cabletron's
SecureFast Switching.

At Nortel, Roese will lead technology innovation for a company
with a rich innovation heritage and a considerable wealth of
technology assets. Nortel has more than 12,000 engineers and
developers, more than 3,500 issued US patents and consistently ranks
among the Top 50 companies globally for newly issued US patents, as
reported by IFI Claims, an established source of US patent data.
Nortel has been a major contributor to important recent industry
standards for WiMAX, carrier Ethernet, security standards, Session
Initiation Protocol (SIP), packet-optical convergence and others.

Roese holds a Bachelor of Science in Electrical Engineering (BSEE)
from the University of New Hampshire. He will report directly to the
President and CEO and will be based in Nortel's R&D headquarters in
Ottawa, Canada. His appointment is effective June 28, 2006.

About Nortel

Nortel is a recognised 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. Our next-generation technologies, for both service
providers and enterprises, span access and core networks, support
multimedia and business-critical applications, and help eliminate
today's barriers to efficiency, speed and performance by simplifying
networks and connecting people with information. 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 statements in this press release may contain words such as
"could", "expects", "may", "anticipates", "believes", "intends",
"estimates", "plans", "envisions", "seeks" and other similar language
and are considered forward-looking statements or information under
applicable securities legislation. These statements are based on
Nortel's current expectations, estimates, forecasts and projections
about the operating environment, economies and markets in which
Nortel operates. These statements are subject to important
assumptions, risks and uncertainties, which are difficult to predict
and the actual outcome may be materially different. Further, actual
results or events could differ materially from those contemplated in
forward-looking statements as a result of the following (i) risks and
uncertainties relating to Nortel's restatements and related matters
including: Nortel's most recent restatement and two previous
restatements of its financial statements and related events; the
negative impact on Nortel and NNL of their most recent restatement
and delay in filing their financial statements and related periodic
reports; legal judgments, fines, penalties or settlements, or any
substantial regulatory fines or other penalties or sanctions, related
to the ongoing regulatory and criminal investigations of Nortel in
the US and Canada; any significant pending civil litigation actions
not encompassed by Nortel's proposed class action settlement; any
substantial cash payment and/or significant dilution of Nortel's
existing equity positions resulting from the finalisation and
approval of its proposed class action settlement, or if such proposed
class action settlement is not finalised, any larger settlements or
awards of damages in respect of such class actions; any unsuccessful
remediation of Nortel's material weaknesses in internal control over
financial reporting resulting in an inability to report Nortel's
results of operations and financial condition accurately and in a
timely manner; the time required to implement Nortel's remedial
measures; Nortel's inability to access, in its current form, its
shelf registration filed with the United States Securities and
Exchange Commission (SEC), and Nortel's below investment grade credit
rating and any further adverse effect on its credit rating due to
Nortel's restatements of its financial statements; any adverse affect
on Nortel's business and market price of its publicly traded
securities arising from continuing negative publicity related to
Nortel's restatements; Nortel's potential inability to attract or
retain the personnel necessary to achieve its business objectives;
any breach by Nortel of the continued listing requirements of the
NYSE or TSX causing the NYSE and/or the TSX to commence suspension or
delisting procedures; (ii) risks and uncertainties relating to
Nortel's business including: yearly and quarterly fluctuations of
Nortel's operating results; reduced demand and pricing pressures for
its products due to global economic conditions, significant
competition, competitive pricing practice, cautious capital spending
by customers, increased industry consolidation, rapidly changing
technologies, evolving industry standards, frequent new product
introductions and short product life cycles, and other trends and
industry characteristics affecting the telecommunications industry;
any material and adverse affects on Nortel's performance if its
expectations regarding market demand for particular products prove to
be wrong or because of certain barriers in its efforts to expand
internationally; any reduction in Nortel's operating results and any
related volatility in the market price of its publicly traded
securities arising from any decline in its gross margin, or
fluctuations in foreign currency exchange rates; any negative
developments associated with Nortel's supply contract and contract
manufacturing agreements including as a result of using a sole
supplier for key optical networking solutions components, and any
defects or errors in Nortel's current or planned products; any
negative impact to Nortel of its failure to achieve its business
transformation objectives; additional valuation allowances for all or
a portion of its deferred tax assets; Nortel's failure to protect its
intellectual property rights, or any adverse judgments or settlements
arising out of disputes regarding intellectual property; changes in
regulation of the Internet and/or other aspects of the industry;
Nortel's failure to successfully operate or integrate its strategic
acquisitions, or failure to consummate or succeed with its strategic
alliances; any negative effect of Nortel's failure to evolve
adequately its financial and managerial control and reporting systems
and processes, manage and grow its business, or create an effective
risk management strategy; and (iii) risks and uncertainties relating
to Nortel's liquidity, financing arrangements and capital including:
the impact of Nortel's most recent restatement and two previous
restatements of its financial statements; any inability of Nortel to
manage cash flow fluctuations to fund working capital requirements or
achieve its business objectives in a timely manner or obtain
additional sources of funding; high levels of debt, limitations on
Nortel capitalising on business opportunities because of credit
facility covenants, or on obtaining additional secured debt pursuant
to the provisions of indentures governing certain of Nortel's public
debt issues and the provisions of its credit facilities; any increase
of restricted cash requirements for Nortel if it is unable to secure
alternative support for obligations arising from certain normal
course business activities, or any inability of Nortel's subsidiaries
to provide it with sufficient funding; any negative effect to Nortel
of the need to make larger defined benefit plans contributions in the
future or exposure to customer credit risks or inability of customers
to fulfil payment obligations under customer financing arrangements;
any negative impact on Nortel's ability to make future acquisitions,
raise capital, issue debt and retain employees arising from stock
price volatility and further declines in the market price of Nortel's
publicly traded securities, or any future share consolidation
resulting in a lower total market capitalisation or adverse effect on
the liquidity of Nortel's common shares. For additional information
with respect to certain of these and other factors, see Nortel's
Annual Report on Form 10-K/A, Quarterly Report on Form 10-Q and other
securities filings 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.

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

ots Originaltext: Nortel Networks
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Contact:
For further information: Jamie Moody, +1-972-684-7167,
moodyjam@nortel.com; Patricia Vernon, +1-905-863-1035,
patriceve@nortel.com